• by Ray Schultz , November 7, 2022

Hightimes Holding Corp., the owner of High Times magazine,^, has acquired the California operations of Moxie, reportedly the first licensed cannabis company in the state, the firm announced. Terms were not disclosed. 

The purchase bolsters the High Times cannabis portfolio in California.

High Times has for three years expanded its footprint past media and events, and into the legal cannabis industry.

The deal includes an exclusive 99-year license to use the Moxie, MX and HighNow brands in California.

“With our current platform of stores, we believe this acquisition will be synergistic in nature for the Moxie brands and provide a good home for their branded products in California,” states Paul Henderson, the chief executive officer of High Times.

The arrangement grants over 1.3 million shares of Hightimes voting common stock to Moxie. High Times is gaining Moxie’s 11,000 sq. ft. manufacturing facility and 46,000 sq. ft. of flowering canopy cultivation. 

This is capable of producing up to 3,500 pounds of dry flower and more than 25,000 pounds of fresh frozen cannabis for High Times and its branded products per year. 

High Times owns eight retail stores in California. licensing agreements for stores in Michigan and Florida. Also, High Times branded cannabis products are currently available in six markets.