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The parent company of High Times magazine signed a deal to license its iconic brand and High Times-branded products at 18 operational and planned cannabis dispensaries in Michigan, with additional rights in Illinois and Florida.

High Times Holdings on Tuesday touted the value of the licensing deal with Canada-based Red, White & Bloom Brands (RWB) at $25 million, but most of the transaction will be in RWB stock. The deal is subject to closing and state regulatory approvals.

High Times will receive a minimum cash royalty payment of $10.75 million in the first 18 months of the licensing deal, according to a filing with the U.S. Securities and Exchange Commission.

In a corporate update Monday, Red White & Bloom, formerly Tidal Royalty Corp., said its Michigan “investee” has 10 operating dispensaries, eight in development and two cultivation facilities.

To read more, click on https://mjbizdaily.com/high-times-strikes-25-million-marijuana-licensing-deal-for-michigan-illinois-florida/

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