MJ Biz report
Brokers handling the asset sale of cash-strapped marijuana publication and brand High Times are nearing a deal to unload its West Hollywood store.
A separate buyer has placed a six-figure offer on 42ο.cοm, one of several High Times assets for sale.
High Times, one of the most well-known brands in the cannabis industry, entered receivership in April.
The stalking-horse bid will set the pace for the online asset, with other interested bidders required to up the ante in succeeding offers.
“My goal is to maximize the sale for the receivership,” Drew Matthews, whose Green Life Business Group is handling the liquidation proceedings, told MJBizDaily reporter Chris Casacchia.
Other assets for sale, according to Green Life marketing materials, include:
- Five operational or built-out California stores in Blythe, Coalinga, Redding, San Bernardino and Shasta Lake.
- A distribution, manufacturing and delivery operation in Lynwood.
- A 10,000-square-foot cultivation business in Sacramento.
- Intellectual property, including High Times magazine and its related assets, 420.cοm, Dope Magazine, Cannabis Cup events, social media accounts and more.
Matthews said the assets could fetch more than $11 million, though the window to work deals is closing with a May 17 deadline approaching.
Reach Chris’ story to learn more about what Matthews calls “one of the biggest deals ever through a receivership.”
https://mjbizdaily.com/marijuana-brand-high-times-assets-in-receivership/
