High Times Cannabis Brand Asset Sale Oversight Ends Abruptly

Receiver Terminated in High Times Asset Sale

The receiver overseeing the asset sale of High Times, a renowned cannabis brand and magazine, has abruptly ended their involvement with the company. Stephen Kunkle, representing High Times’ lender ExWorks, terminated the receiver agreement with Kevin Singer, as reported by Green Market Report.

Green Life Business Group’s Involvement

Kevin Singer had engaged Green Life Business Group to manage the liquidation proceedings, aiming to sell off High Times’ assets. Earlier in May, Green Life facilitated a significant offer exceeding six figures for 420.com, a key asset within High Times Holding Corp.’s portfolio.

Assets Up for Sale

High Times Holding Corp., based in Los Angeles, has put several assets on the market, including:

• Intellectual Property: High Times magazine, 420.com, Dope Magazine, Cannabis Cup events, and associated social media accounts.
• California Stores: Five operational or developed locations in Blythe, Coalinga, Redding, San Bernardino, and Shasta Lake.
• Operations: A distribution, manufacturing, and delivery facility in Lynwood, and a 10,000-square-foot cultivation site in Sacramento.

Potential Sale Value

Drew Mathews, CEO of Green Life Business Group, estimated that this diverse set of assets could collectively fetch over $11 million, underscoring their value in the cannabis market.

Receiver’s Background

Before his role in the High Times sale, Kevin Singer oversaw the receivership of Herbl, a now-defunct cannabis distributor in California that faced significant financial liabilities, including debts upwards of $10 million, as disclosed in court documents and industry sources.

This development marks a significant turn in High Times’ efforts to restructure and manage its financial obligations, navigating through the complexities of the cannabis industry’s economic landscape.