High Times Loses Another High Profile CEO As Peter Horvath Resigns

Hightimes Holding Corp. recently said goodbye to another CEO.

Peter Horvath resigned after less than two years on the job, for "personal reasons."

The company posted a filing with the SEC announcing that Horvath had resigned on January 25, both as CEO and director, effective immediately.

”To our knowledge, Mr. Horvath left his position for personal reasons, and there was no dispute or disagreement between Mr. Horvath and the Company,” the filing stated.

Paul Henderson, Hightimes’ president and interim CFO was appointed to the position of CEO and director on the company’s board of directors.

“Mr. Henderson will also continue in his roles as President and interim Chief Financial Officer," the filing continued. "Christopher Chabot, who has acted as an operations consultant for the Company since March of 2020, has been appointed to fill the position of Chief Operating Officer.”

High Times’ CEO History

While Horvath, whose hire was meant to align with High Times’ recent acquisition of pending and operational licenses from Harvest Health & Recreation, which was acquired by Trulieve Cannabis Corp. TCNNF, led the company for over a year after former CEO Stormy Simon stepped down from the role to run for public office in Utah, after just four months into job.

Prior to Ms. Simon, Kraig Fox held the post for nine months, replacing chairman Adam Levin. 

Reg A Extended Yet Again Due To Unfulfilled SEC Requirements

In the meantime, High Times extended its existing Regulation A+ offering until as late as March 31, 2022.

The offering has been on hold for several years, pending the company’s completion of an audit of its 2019 and 2020 annual consolidated financial statements and preparation of unaudited consolidated financial statement for the six months ended June 30, 2020, and June 30, 2021.

Other unfulfilled obligations include an SEC filing of the company’s annual report on Form 1-K for the year ended December 31, 2019, the semi-annual report on Form 1-SA for the six months ended June 30, 2020, the filing of the company’s annual report on Form 1-K for the year ended December 31, 2020, and the filing of the company’s semi-annual report on Form 1-SA for the six months ended June 30, 2021.

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