The U.S. Securities and Exchange Commission has reportedly told Hightimes Holding Corp. to halt its initial public offering after the company missed a June 12 deadline for filing its audited annual report.
Attorneys Stephen Weiss and Megan Penick of Michelman Robinson LLP — who both work as securities lawyers for High Times — confirmed to Cannabis Law Report‘s Teri Buhl that the company cannot accept additional sales until the annual report is filed and publicly available for investors. The most recent High Times annual report was filed in June 2019 and showed that the company had raised just $15 million of its $50 million goal.
This has been illuminated by the coronavirus pandemic. Veterans need cannabis options now more than ever, and restricting it by government officials and closing dispensaries poses a serious danger to veterans at this time.
In 2017, Weinberg met former Detroit Lions wide receiver Calvin Johnson Jr. and guard Rob Sims, and a business venture was born. After their football careers ended, Johnson and Sims had been using cannabis products to treat long-term inflammation and joint pain resulting from the beatings they endured on the field.
After going public with his struggles with alcoholism and crediting medical marijuana to helping him overcome them, former Detroit Red Wing Darren McCarty is now getting off the bench and entering the cannabis industry himself.
The four-time Stanley Cup champion has teamed up with Michigan-based cannabis company Pincanna to launch a new line of pre-rolls for medical marijuana customers. The Darren McCarty "Pucker Up" pre-rolls will be available when Pincanna opens its Kalkaska store on Thursday, July 2.