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Did You Invest In The Old High Times?

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The Short Version

The company you invested in, High Times Holdings, no longer exists. It went under and into receivership.

We (the new owners of the High Times brand) paid about $3.5 million into that receivership. That money is now with the receiver.

If you have a claim, you should reach out to the receiver handling the process as soon as possible. 

The Receiver

Stephen Kunkel

Receiver for ExWorks Capital

The Long Version (For Those Who Want The Whole Story)

A Letter To Everyone Who’s Been Wondering.

Yeah, we know. This sucks. Big time.

A lot of us were in the same boat. We were excited. We believed in the dream. Some of us even invested in the old High Times back then because we thought we’d be part of something bigger, part of the future of cannabis.

And like a lot of you, we felt let down. Burned. Disappointed.

So trust us when we say… we get it.

That’s why we’re writing this now. To clear the air. To explain what really happened. To tell you what’s next. And to help you understand what steps you can take if you’re still trying to figure this out.

What Happened To The Old High Times?

The old High Times you invested in a few years ago isn’t the same one that exists today.

Back then, High Times Holdings raised money with big ambitions. An IPO. Dispensaries. Media ventures. They sold people on a vision. And honestly? It wasn’t a wild dream. It could have worked. But it didn’t. A lot of things got in the way and personally we don’t like the way they did many things.

Behind the scenes, the challenges piled up. Debts grew. Deals fell through. Mistakes were made. Eventually, things unraveled.

Then the government got involved. The SEC. The Department of Justice. Lawsuits. Investigations. Important questions about how things had been handled.

In the end, High Times Holdings didn’t survive. It went into receivership: a legal process where the court steps in to sell off assets and settle debts.

That’s when things started to change.

What We Did, And Why.

Josh Kesselman, the founder of RAW, purchased the High Times assets out of receivership for $3.5 million. He brought longtime High Times veteran Matt Stang along and together they assembled the new core team now rebuilding the brand.

Some faces here are familiar. Some are new. What unites us is simple: we believe this brand and what it once stood for is very much needed again in today’s society! .

To be clear: this wasn’t a purchase of the old company. It was a purchase of the brand. The magazine. The Cannabis Cup. The archives. Important bones like that. Basically, the spirit of it all.

The money went into the receivership process to help close out the past, to settle debts, resolve claims, and give High Times a path forward.

The debts and lawsuits are with the receiver to resolve. That’s generally how receivership works.

What we took on is the responsibility of rebuilding something worth saving. Something we still believe in.

What About Your Old Investment?

We understand how this feels. People believed in that company. People put their hard-earned money into it. Growers, grandmas, grinders, glassblowers, ganjapreneurs, good people, green thumbs, gig workers, guys and gals from everywhere… People hoped it would turn into something big.

The process for those past investments is still running through the receiver. The funds we paid went into that process, not into this new chapter of High Times, and if you believe you may be owed something, you need to be in contact with the receiver and file a claim

Why We’re Sharing This.

Because transparency matters. Because honesty matters. Because people deserve clear answers. Because we’re only here to rebuild High Times from the ashes and make it into something our community truly needs.

We also want to be clear about where things stand today. We didn’t create the problems of the past and we had nothing to do with them. We’re just here to rebuild from almost zero. High Times was a Giving Tree. First private equity took the leaves then the branches then the trunk until there was nothing left but a stump. We’ve planted new seeds and are regrowing this tree!!

What we did was step up to protect what was left and give this brand a future — so it didn’t just disappear into history as another cautionary tale. Or worse, get scooped up by some corporate stiffs looking to “monetize” the community even further.

We’re here to rebuild High Times for the people who still care. For the culture that kept this alive long after others gave up.

What Happens Next.

If you want to follow up on your investment, reach out to the receiver handling the old company’s process.

If you want to see where High Times is headed next, stick around. We’re bringing it back. The right way and it is going to be amazing!

Print. Events. Real journalism. Real culture. No gimmicks. No hype. Just something worth believing in again.

Thanks for reading. Thanks for caring. Thanks for still giving a damn. We look forward to having some incredible High Times with you!!!

With respect,

The New High Times Team



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Marijuana and the WWE – The Fresh Toast

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Hulk Hogan was one of the star at it’s peak, so we wonder about marijuana and WWE

Cannabis has long been a popular—if unofficial—part of professional wrestling culture, and WWE is no exception. For decades, many of the industry’s biggest stars have used marijuana to relax, recover, and cope with the physical and mental toll of the job. By some backstage estimates, up to 90% of WWE talent have used cannabis, whether for stress relief or pain management. WWE reached its peak popularity during two main eras: the Godlen Era of the 1980s, where the late Hulk Hogan was the star and the Attitude Era of the 90s, led by stars like Stone Cold Steve Austin and The Rock. These periods saw unprecedented viewership. But what about marijuana and the WWE?

RELATED: The Connection Between Country Music And Cannabis

The list of cannabis-friendly wrestlers includes major names such as Rob Van Dam, Randy Orton, Jeff Hardy, Matt Riddle, and Sean Waltman. Rob Van Dam in particular has championed marijuana publicly, crediting it with helping him manage pain and stay grounded during his career. Others, like Bret Hart and Val Venis, have expressed similar sentiments.

By 2022, WWE had largely stopped enforcing marijuana fines in practice. And in early 2025, WWE superstar Michin (Mia Yim) confirmed what many suspected: marijuana was officially removed from the company’s banned substance list “a couple of years ago.” This quiet but significant policy shift aligns with widespread legalization and normalization of cannabis use in much of the U.S.

The move has been welcomed by fans and insiders alike. WWE Hall of Famer Booker T called the change overdue, praising marijuana as a safer alternative to opioid-based painkillers, which have had devastating effects in the wrestling world.

RELATED: Dolly Parton Expands Her Food Empire

WWE’s new approach represents a more modern and compassionate vision of athlete wellness. Rather than punishing performers for using a now widely legal substance, the company has turned its focus toward more dangerous or performance-enhancing drugs. The shift gives wrestlers more autonomy over their health while also acknowledging cannabis’s role in long-term recovery.

As WWE continues to evolve in the era of legalized marijuana, its updated Wellness Policy reflects a forward-thinking attitude—one prioritizing performer well-being over outdated stigma.



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Turkish Parliament Legalizes Low-THC Product Sales in Pharmacies

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The Turkish Parliament passed legislation on July 20 that will allow licensed pharmacies to sell low-THC products derived from hemp to medical patients with certain conditions.

Although Turkish media outlets referred to the reform as medical cannabis legalization, the new law focuses on expanding the country’s industrial hemp program from cultivation to a full supply chain that includes cannabinoid processing, distribution and sales of nonintoxicating products.

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Regardless of whether it’s called cannabis or hemp, access to cannabinoid medicines will be expanding in Turkey, where lawmakers in 2016 approved legislation allowing only for sublingual sprays, like Sativex (nabiximols), a pharmaceutical that can alleviate neurological conditions.

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Editor’s note: The 0.3% delta-9 THC threshold to differentiate hemp from cannabis in the U.S. dates back to the Agricultural Marketing Act of 1946; however, the threshold became more widely accepted globally after 1976, when Canadian taxonomist Ernest Small and American botanist Arthur Cronquist published an article in the journal Taxon entitled “A Practical and Natural Taxonomy for Cannabis,” even though they wrote that they “arbitrarily” adopted that concentration level.

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RELATED: European Parliament Votes to Bring Hemp THC Level Back to 0.3%

Currently, Turkey permits licensed industrial hemp cultivation in 19 of its 81 provinces, but more regions are expected to adopt cultivation programs under the new law, the Hürriyet Daily News reported. Specifically, Turkey’s industrial hemp production grew from 280 tons in 2020 to more than 1,700 tons in 2024 following a call by President Recep Tayyip Erdoğan for farmers to ramp up the agricultural commodity.

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“I am calling out to my nation; let’s start the process to cultivate industrial hemp,” Erdoğan said in early 2019. “We will see that industrial hemp has many different benefits in many different areas.”

Industrial hemp is primarily grown for fiber and grain, as hemp grown for cannabinoids, like THC and CBD, represents a separate market segment.

While Turkey’s Ministry of Agriculture and Forestry will continue to oversee hemp cultivation and harvesting under the country’s recently passed legislation, the Ministry of Health will have the authority to license and regulate hemp processing and pharmacy product sales to medical patients. Also, the Ministry of Health will govern a new electronic track-and-trace system to help ensure compliance and safety.

The Ministry of Health will also determine potential regulations around importing and exporting hemp, Turkish news site Haberler.com reported.

The new law amends Turkey’s “Health-Related Laws and Decree Law No. 663,” allowing for medical patients diagnosed with conditions ranging from chronic pain and epilepsy to cancer, multiple sclerosis, and certain psychological disorders, like post-traumatic stress disorder, to access the low-THC products.

While Turkey is primarily in West Asia, it joins many of its European neighbors, prominently Germany, in adopting more permissive cannabis laws.

RELATED: German Cannabis Market Establishes Foundation for Global Industry Expansion

Turkish Parliament Member Leyla Şahin said the new law aims to enhance Turkey’s competitiveness in a growing global sector, sparking potential economic growth through attracting international pharmaceutical companies, investors and research initiatives, the Hürriyet reported.

Those who violate provisions under Turkey’s new law will be fined twice the sales prices of all products subject to the violation, with increased penalties for subsequent offenses.

Historically, Turkey has had strict drug penalties, including up to five years in prison for possessing cannabis, while those who traffic illicit drugs can face 10-to-20-year sentences, according to the country’s penal code.  



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The DEA’s New Boss Holds the Keys to Weed Reform: Will He Take Action?

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After months of silence and bureaucratic stalling, the DEA finally has a new boss: Terrance Cole, confirmed by the Senate earlier this week.

That might not sound like major weed news since it’s the DEA and all, but it is. The federal effort to reschedule cannabis — perhaps the biggest shift in US drug policy in over half a century — now flows directly through him.

Let’s break it down: Cannabis is still a Schedule I substance under federal law, the same category as heroin and LSD, meaning the government officially considers it to have no medical value and a high potential for abuse. Yes, even in 2025, after nearly half of the U.S. states have legalized cannabis for adults to buy and consume.

Rescheduling to Schedule III, alongside Tylenol with codeine and anabolic steroids, wouldn’t legalize cannabis outright. But it would mark the biggest federal policy shift since the Nixon Administration launched the War on Drugs in 1970.

Cole told lawmakers prior to his confirmation that advancing the rescheduling process, initiated by the Biden Administration but since stalled under President Trump, is one of his top priorities.

That’s the good news.

The not-so-good? He has a long track record of anti-cannabis statements and refused to give direct answers about what outcome he wants for the process. He’s playing it close to the chest.

Then came a twist: Just one day after Cole’s confirmation, the DEA’s administrative law judge overseeing the rescheduling process, John Mulrooney, announced his retirement. In a letter, he said all matters now go straight to the DEA Administrator. That’s Cole.

The cannabis industry is cautiously spinning Cole’s appointment as a win. That’s mostly because it’s been starving for any federal progress. Hearings were supposed to begin in January but quickly got bogged down by procedural fights, witness disputes, and a general lack of urgency.

So now, he has two choices:

  • Finalize the rescheduling recommendation and jam it through himself — unlikely, but possible.
  • Appoint a new judge and restart hearings from scratch. That would mean more delays and more dysfunction. More on that below.

If rescheduling happens, the implications are massive, especially for cannabis businesses.

The biggest shift? Eliminating IRS Code 280E, a tax rule that bars cannabis operators from deducting normal expenses like payroll, rent, and office supplies. That rule has gutted balance sheets and pushed even profitable companies into the red.

Rescheduling could also unlock access to banking, ease mergers and acquisitions, and possibly even allow U.S. cannabis firms to list on major stock exchanges — though it’s unclear if Nasdaq or NYSE would permit that under Schedule III.

For social equity operators, it could be a lifeline. States like New York and Illinois established these licensing programs to give entrepreneurs harmed by the War on Drugs a first crack at the newly legal market. But the lack of federal reform and banking access has left many undercapitalized, buried in debt, and unable to open. New investment and lower capital costs could give them some breathing room.

But here’s the rub: Many grassroots advocates worry Schedule III could cement the dominance of deep-pocketed multistate operators like Curaleaf and Green Thumb Industries that cultivate and sell cannabis in multiple states. These companies already have the compliance teams, legal firepower, and capital to navigate federal ambiguity — and now, potentially, tax relief too.

Rescheduling doesn’t legalize cannabis. It doesn’t expunge records. And it technically wouldn’t stop federal agencies from hassling state-legal operators if they wanted to. It just makes the math easier — for the businesses that are already surviving.

Trump has political reasons to move on cannabis reform. He backed rescheduling during the campaign — meaning it would be a fulfilled campaign promise — and it could distract from Epstein file fallout and DOJ scandals. More importantly, he’s hemorrhaging Gen Z support, and they overwhelmingly back cannabis reform.

It also gives Trump a way to split the difference in his big-tent party. It’s not full legalization (which could trigger backlash from the religious Ron DeSantis/Mike Johnson wing), but it is a policy win that helps small American businesses, plays well with young voters, and looks like reform and a broadly popular issue without going all the way.

It’s a politically useful half-measure. But in this administration, it might be the best we get. Now that Judge Mulrooney’s out, the ball is squarely in Cole’s court.

Will he push it through? Or slow-walk it into oblivion? The industry’s watching. Closely.

Editor’s note: Check out more of Jeremy’s work over at Cultivated — one of our favorite sources for smart, nuanced cannabis coverage.

Photo by Thom Milkovic on Unsplash



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