California has been a core focus for us since we’ve announced our plant-touching plans
Hightimes Holding Corp., the owner of High Times®, the most well-known brand in cannabis, announced today that it has entered into definitive agreements to acquire two Northern California cannabis dispensaries, including the 11-year-old community cornerstone 530 Collective in Shasta Lake. The mostly stock transaction is expected to close within 60 days.
The acquisitions, which also includes the Redding store operated by J@G Enterprises, known as Synergy, will retain the 43 employees staffed and continue the operations of the two active dispensaries. The stores, which also operate a multi-region delivery business, will be rebranded as High Times properties upon closing.
“Effective market penetration in the world’s largest cannabis market, California, has been a core focus for us since we’ve announced our plant-touching plans,” Adam E. Levin, Executive Chairman of High Times stated. “The acquisition of these stores will provide us with not only greater coverage area within the state, but with a well-oiled machine to grow as we expand our operations. The J@G and 530 teams have already developed lasting relationships with their communities, and we believe they will be an example as we continue to flesh out our model, and develop the 2.0 cannabis consumer experience.”
With one of the most progressive cannabis policies in the state, 530 Collective was opened in Shasta Lake in 2009. The Synergy store opened in Redding in 2018. A consistent staple of the Shasta Lake community for over a decade, the stores have collectively developed such an impressive consumer base that they had to expand operations amidst the COVID-19 pandemic in order to meet the growing demand of their communities.
The announcement comes on the heels of an extension to the High Times Regulation A + IPO campaign. Investors interested in becoming a shareholder are encouraged to visit hightimesinvestor.com to view the High Times offering circular.
You can also email email@example.com or call with the brand’s investment hotline at 1 (833) BUY-HTHC (833-289-4842).
View our latest Regulation A+ offering circular and our SEC filings at https://www.sec.gov/Archives/edgar/data/1714420/000149315219008495/partii.htm and https://www.sec.gov/cgi-bin/browse-edgar?company=hightimes&owner=exclude&action=getcompany.