By Robert Lundahl
The company that owns High Times Magazine is launching an equity crowdfunding campaign ahead of its application for an initial public offering on Nasdaq later this year, which is an innovative approach on several levels.
CEO Adam Levin states, “We value our community, we value our fans who have been consumers of ours for so long. And the stock price is attainable at 11 dollars a share."
First, the recognition that attitudes toward Cannabis have changed and are changing further, have encouraged 31 states to embark on a path toward legalization.
It would no doubt surprise certain Cannabis users and others that the "weed" of Cheech and Chong's "Dave's not here" routine would be the stuff of Wall Street and Nasdaq, stimulating growth in technologies, products and entrepreneurism.
Really, it is the modern version of stoner humor to assume or giggle at the fact that Cannabis is a multi-billion dollar industry, and the capture of Wall Street's interest is logically, long overdue.
Currently, the global market for cannabis products is estimated to be worth $7.7 billion. Projections are the international market for cannabis will hit $31.4 billion by 2021, according to a new report from the Brightfield Group, a cannabis market research firm.
With the lure of the "Green Gold Rush," it might be tempting to think in terms of money, but it is the world of Cheech and Chong and the gradual gaining of societal acceptance through popular culture that brought people together in humor and community for over 40 years. And so what naturally emerged was the necessity of communicating vision, mission, and values.
While many companies wrestle with their past in light of their future, High Times' community focus over the years offers tremendous appeal. Playing to this reality, barriers to investment are almost nonexistent, with minimal purchase amounts and a low share price.
One example, High Times today is positioned much like Vanity Fair, with overwhelming celebrity support. Snoop Dogg, Montel Williams, Jaime Kennedy, Arrested Development, and others weigh in on the opportunity with the future of the Cannabis industry, and particularly on medicinal uses, and that future is very bright.
Former President of Mexico, Vicente Fox, joined the board of High Times in recent days, and this retired Coca Cola executive brings with him a policy and leadership skill set needed to guide the business into new markets as a global publishing juggernaut.
Fox explains a roadmap to legalization, focusing on key stepping stones in law, rights, and human rights that are the real indicators of how far Cannabis has come. The High Times Investor landing page sheds light on the campaign and shares the manifesto behind the equity crowdfund offering, along with key points on the company’s history, overview and opportunity.
High Times has always served a purpose in the cannabis community. First, it was to act as a voice and mouthpiece for cannabis and the counterculture that surrounded it. Then, as legalization efforts heated up, their purpose was to be a supporter and backer.
When the Internet became a fad, High Times was there to make sure consumers had access to education and information about cannabis (they even had their domain two years before Google). And now as cannabis is going mainstream, High Times has the responsibility to share the stories and shed light on the new cultures of cannabis.
It’s a noble task, and High Times has always risen to the challenge and stood by the cannabis community. Now it’s time to see them being given the opportunity to stand behind their fearless leader.
To show your support and make an investment in High Times, visit the High Times Investor Page.
Author Bio:Beyond a prolific list of award-winning stories and documentary films seen on PBS and worldwide, Robert Lundahl has delivered unprecedented creative successes for private enterprises including companies like HP, SAP, Credit Suisse, Blue Cross Blue Shield, Sun Microsystems, Avatier, and Eriksson. Robert’s experience in orchestrating momentous corporate PR, advertising, sociopolitical and environmental activism brings a rare holistic advantage to the scope of all Agence RLA client work.
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