Brokers handling the asset sale of cash-strapped marijuana brand and publication High Times are nearing a deal to unload its West Hollywood store, MJBizDaily has confirmed.
A separate buyer has placed a six-figure offer on 420.com, one of several other assets up for sale from the Los Angeles-based parent of High Times, Hightimes Holding Corp., which entered receivership in April.
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The stalking-horse bid will set the pace for the online asset, with other interested bidders required to up the ante in any successive offers.
“My goal is to maximize the sale for the receivership,” said Drew Matthews, CEO of San Diego-based Green Life Business Group, which is handling the liquidation proceedings of one of the most well-known brands in the cannabis industry.
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