High Times, the legendary cannabis magazine that stood as a shining example of what counter-culture can achieve, has been sold to an industry investment group. Among the new owners is none other than Damien Marley. Bob Marley's youngest son is surely making his father proud. The new investors are looking to transform the long-standing marijuana mouthpiece into a media powerhouse, able to compete in the big leagues.
The purchase was organized by LA based venture capital firm Oreva Capital. Oreva, along with a group of investors, including Marley, bought the controlling shares of the company, which is estimated to have a current value of around $70 million. While Bob Marley sung the praises of marijuana, Damien will now go on to make a real fundamental impact in the world of cannabis. “High Times also had me daydreaming of so many beautiful strains that at the time I had not yet had the chance to experience. It is now an honor to be a part of the High Times legacy that I’ve been a fan of for so many years,” Marley told the media.
This isn't Marley's only excursion into the cannabis landscape. He recently announced a partnership with Ocean Grown Extracts. His partnership then sent him to prison. No he wasn't arrested, instead, Marley and OGE decided to set up their cannabis grow in an abandoned Coalinga, California jail. Marley has also opened a dispensary right up the road from the Bronco's stadium in Denver Colorado.
Damien's passion for marijuana is a good sign that High Times has been left in good hands.
https://techcrunch.com/2017/06/01/high-times-acquired/
Author - Cory Hughes / Twisted Purple Media.
Twisted Purple Media is a cannabis content provider and original author of this article.
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courtesy www.roottie.com
Interesting to hear, on one hand - and yet depressing at the same time. I got my first copy of the High Times in the mid 70s, and dope is still illegal in most places. So how much longer will it take? Another 50 years? So this purchase is more of a long term investment, I guess.
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Great post! Glad HighTimes was sold, they were becoming stale recently and Damien will sure take them to better heights!
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i think its amazing that they are planning on competing on a global scale with other major media and news outlets. Weed is mainstream!
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