Hightimes Holding Corp., guardian of High Times magazine, says that it has suspended publication of the month-to-month journal  version because of Covid-19. The net model is up and working and publshing often

Excuse our French however  is probably the most piss poor excuse for something we’ve heard but in 2020 and we’ve heard lots of rubbish to date this yr.

As now we have  talked about in earlier articles, Hightimes has not printed {a magazine} for quite a lot of months.

Things as they’re,  it appears just like the swansong problem can have been this April 420 version, very apt certainly!

Editorial employees and writers, together with Mike Gianakis and Danny Danko, had been laid off in March.

Want a collectors merchandise – rush to Amazon now to get your copy !

 

 

Unsurprisingly High Times administration are spinning it as a brief hiatus earlier than they’re again.

“Unfortunately, due to the pandemic we’ve had to halt printing, but of course we intend to resume once the climate allows,”

Jon Cappetta, Hightimes VP of content material, has advised  CelebStoner.

“I anticipate we should have news about the return later this month. I was hoping by the end of June but with the numbers spiking again we couldn’t. I don’t want to make a call we’d have to walk back.”

The publication halt marks the longest stretch with out new print points for the reason that journal was launched in 1974 by Tom Forcade.

Tom Forcade.

 

If you don’t know any of the present background.. Celeb Stoner wrap it up succinctly

Once the go-to supply for hashish info, High Times has confronted an onslaught of competitors in recent times each on the newsstand and on the internet. This led the corporate to diversify by staging its branded Cannabis Cup in states the place it’s authorized. But now these occasions have floor to a halt as nicely.

“High Times had an iconic brand for so long,” says Ronit Pinto, writer of New York based mostly Honeysuckle and Honey Pot magazines. “They were pioneers and were able to maintain a super rebellious spirit. It was an outlet for people and it had a subculture that advertisers wanted to speak to. But over time, its parent company has gotten more corporate.”

Trans High Corporation, which owned High Times, was acquired by Adam Levin and different buyers for $70 million in 2017 and rebrandng Hightimes Holding. The firm had lengthy been privately held by Forcade’s household and a board of trustees and later administrators (Forcade died in 1978). Executive chairman Levin comes from the world of excessive finance and hedge funds.

“Unfortunately, due to the pandemic we’ve had to halt printing, but of course we intend to resume once the climate allows,” says Jon Cappetta, Hightimes VP of content material. “I anticipate we should have news about the return later this month. I was hoping by the end of June but with the numbers spiking again we couldn’t. I don’t want to make a call we’d have to walk back.”

The firm has been attempting to go public for about two years. On July 9, the Securities and Exchange Commission has advised the corporate to droop inventory gross sales of its Reg A IPO as a result of it hasn’t filed up to date monetary info, as reported by Benzinga. The firm mentioned in a submitting its monetary statements can be delayed due to the affect of Covid-19. The inventory sale has been prolonged once more, this time to September.

High Times continues to maintain up promoting its sale of shares at $11 every in e mail blasts, however the inventory has yet to be listed on the OTC or some other alternate. Assuming a deliberate ahead 11-to-1 inventory cut up, the corporate’s shares now promote for $1 every, with a minimal funding of $550. The firm has raised about $15 million out of a $50 million goal within the IPO, which seems to be stalled for now.

Hightimes is on its third CEO in a yr. The new CEO Peter Horvath got here aboard in May, changing Stormy Simon who changed Kraig Fox. Horvath has background in retail, not media.

Source: https://www.celebstoner.com/news/marijuana-news/2020/07/20/high-times-suspends-print-magazine/



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