LOS ANGELES, CA / ACCESSWIRE / June 6, 2017 / Stony Hill Corp. (OTCQB: STNY), a diversified company focused on the cannabis industry, today announced that it has made a strategic investment in High Times Holding Corp. (High Times).
Pursuant to the terms of the agreement, Stony Hill will make a direct equity investment into High Times Holding Corp. Stony Hill will be a passive investor but looks forward to an expanding relationship with High Times with additional strategic partnership opportunities in the future.
With over forty years at the forefront of the cannabis movement, High Times has built an iconic brand and business with innovative and forward thinking. They have a portfolio of high-quality brands and a reputation for being at the leading edge of industry trends, information and news. High Times' covers have captured the images of historic and cultural landmarks that persist in the collective cannabis industry community.
Even before Damian Marley's first appearance on the magazine's cover in June of 2006, there had been a mutual respect and ongoing dialogue between the two groups. Stony Hill believes that the High Times team has the kind of innovative and forward thinking necessary to thrive in the new, fast-changing digital environment.
Damian "Jr Gong" Marley, Founder and Director of Stony Hill, stated, "When I was in high school I used to grow some herb. I learned to differentiate male from the female plant by reading High Times Magazine. High Times also had me day dreaming of so many beautiful strains that at the time I had not yet had the chance to experience. So it is now an honor to be a part of the High Times legacy that I've been a fan of for so many years."
As Stony Hill continues to expand into multiple segments of the cannabis industry, this investment fits nicely into our strategy to expand Stony Hill's media presence and platform of products. This investment represents another step toward building our company into a leading platform in the cannabis industry.
Adam Levin, CEO of High Times Holdings Corp., stated, "We are pleased to welcome Stony Hill and Damian Marley as a long-term investor and strategic partner. Stony Hill has a broad portfolio of products and assets which we believe will make it a strong partner and ally. We believe the mutually beneficial relationship will develop new opportunities for both our companies."
About Stony Hill Corp.
Stony Hill Corp. (www.stonyhillcorp.com), founded by Damian Marley, is a diversified company focused on multiples areas of the cannabis, hemp and CBD industry. The Company is focused on select investment, branding, real estate, and partnership opportunities in the recreational, health and wellness, nutraceutical, and media industries.
Stony Hill has several strategic partnerships currently in place and is actively pursuing additional partnerships and other strategic growth opportunities.
About HIGH TIMES
For more than 40 years, HIGH TIMES has been the authoritative voice of authentic cannabis culture, including leading the fight for legalization and empowering entrepreneurs in this burgeoning industry. HIGH TIMES' content spans digital, social, video and print platforms, as well as location-based events highlighted by the global Cannabis Cup franchise and the HIGH TIMES Business Summit conference series. Follow @HIGH_TIMES_Mag on Twitter, @hightimesmagazine on Instagram, or Facebook at https://www.facebook.com/HIGHTIMESMag/.
Except for historical information contained herein, the statements in this release are forward-looking and made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are inherently unreliable and actual results may differ materially. Factors which could cause actual results to differ materially from these forward-looking statements include such factors as the development and protection of our brands and other intellectual property, the need to raise capital to meet business requirements, significant fluctuations in marketing expenses and ability to achieve and expand significant levels of revenues, or recognize net income, from the sale of its products and services, as well as the introduction of competing products, or management's ability to attract and maintain qualified personnel necessary for the development and commercialization of its planned products, and other information that may be detailed from time to time in the Company's filings with the United States Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.