By Robert Lundahl
The new campaign for High Times Magazine celebrating their Pre IPO Equity Crowd Fund offer is innovative on several levels. 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.
CEO Adam Levin states, “We value our community, we value our fans who have been consumers of ours for so long. No minimum, (and the stock price is) 11 dollars a share.”
First, the recognition that attitudes toward Cannabis have changed and are changing further, have encouraged 30 states to embark on a path toward legalization.
It no doubt would 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 in creating the campaign messaging, 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, on 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 one time 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 presents the campaign to investors and the videos are not to be missed.