Business
Stony Hill Makes Strategic Investment into High Times
Stony Hill Makes Strategic Investment into High Times.
About this update from Applied Biosciences Corp.
[{"type":"text","content":"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 b...