Scoop: High Times To Launch Cannabis Dispensaries In Los Angeles And Las Vegas, Names New President

The 45-year-old cannabis media and events company High Times is officially announcing Thursday its intent to open dispensaries bearing its iconic logo in two of the world’s largest adult-use cannabis markets: Los Angeles, California, and Las Vegas, Nevada.

In conjunction, the brand named its new president and interim CFO, Paul Henderson, formerly with Goldman Sachs GS, Apple Inc. AAPL and Group Flor.

Combined with the brand’s long-standing marijuana competition the Cannabis Cup, High Times aims to not only crown, but directly provide the best products available to its loyal consumer base, a company representative told Benzinga.

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According to information procured by Benzinga, Hightimes Holdings, the parent company behind High Times Magazine, Dope Magazine and other brands, has signed binding letters of intent with dispensary license holders in both Las Vegas and Los Angeles. Upon regulatory approval and the finalization of the deal’s conditions, High Times will proceed to the opening of its two first retail locations. Others are expected soon.

“There is no brand in Cannabis that compares to High Times. High Times has 10 times the number of social followers of any other cannabis retail brand, not including the millions of cannabis enthusiasts who visit the company’s media properties on a monthly basis,” Henderson said. “The cannabis movement has grown in no small part due to the High Times brand, and we will continue to be the source for the highest quality product in this industry - just on a much more personal and direct level.”

High Times recently named Stormy Simon, former president of Overstock.com Inc OSTK, as its new CEO.

Photo courtesy of High Times.