High Times to Acquire Leading Southern California Dispensary to Expand Growing Portfolio – GlobeNewswire

Closing on the binding agreement will bring Desert’s Finest into the High Times Retail Ecosystem
LOS ANGELES, March 08, 2021 (GLOBE NEWSWIRE) — Hightimes Holding Corp., the owner of High Times®, the most well-known brand in cannabis, announced today that it has entered into a definitive agreement to acquire Desert’s Finest, a dispensary located in Desert Hot Springs, Calif. The transaction is valued at $6.2 million, of which approximately $5,350,000 is in the form of convertible debt, and is expected to close within 90 days.Another addition to High Times’s rapidly expanding retail presence, which already includes three operational stores across California and nearly a dozen others in development, Desert’s Finest will retain its employees and will be rebranded as a High TimesTMMarket following the closing. The acquisition will also bring a distribution license into the brand’s operations, complimenting other owned assets in the region.“We’re thrilled to add this thriving business located in Desert Hot Springs, California to our growing retail footprint. In less than a year, we’ll have gone from zero to five operational stores in California alone, with many still in their final stages of development,” stated Hightimes Chief Executive Officer Peter Horvath. “While High Times has always been a

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