Josh Kesselman, the founder of RAW Rolling Papers, has co-purchased the iconic High Times brand in a $3.5 million all-cash transaction, marking a bold new chapter for one of the most recognizable names in counterculture media.
The deal, completed alongside former High Times co-owner Matt Stang, includes the acquisition of the High Times magazine, the Cannabis Cup event series, and all associated intellectual property. The transaction comes after years of financial instability and operational uncertainty under previous ownership, culminating in the brand’s assets being sold off from the now-defunct Hightimes Holding Corp.
In a press release, Kesselman described the acquisition as a “pinch yourself” moment, saying, “Eighteen-year-old stoner Josh would be in complete disbelief… This feels like a dream.” He added that bringing the brand back with Stang, a longtime former operator of the magazine, made the moment even more meaningful.
Stang echoed the excitement, saying, “We’re not just reviving High Times as a news source, we’re positioning it as a guiding light for culture and a definitive authority on all things cannabis and psychedelics.” He emphasized a focus on community, authenticity, and multigenerational appeal.
Plans for the relaunch include limited-run collectible print editions of the magazine, the return of the Cannabis Cup event series—featuring third-party judging and no pay-to-play involvement—and a revitalized digital platform built around podcasts, expert commentary, and community engagement. The new owners anticipate the return of the Cannabis Cup in 2025.
“Our goal is to rebuild the voice of authenticity that defined High Times’ legacy,” Kesselman said. “We want to cut through the noise and create a space where culture, community, and credible information come together.”
Originally founded in 1974, High Times rose to prominence as a symbol of countercultural values and advocacy. In 2017, it was sold to Hightimes Holding Corp., led by Adam Levin of Oreva Capital. The group launched a Regulation A public offering to raise up to $50 million but managed just $15 million. The company’s IPO was halted in 2020 by the SEC after it failed to file its annual report.
In the years that followed, the brand faced layoffs, stalled expansion plans, and mounting financial issues. A 2023 deal to sell the intellectual property to Lucy Scientific Discovery Inc. was later unwound, and the assets were placed into receivership.
In January 2024, former CEO Adam Levin pleaded guilty to conspiracy charges for a scheme involving undisclosed payments to a newsletter analyst who promoted High Times stock. Because the new transaction involves the brand and intellectual property only, Kesselman and Stang will not assume any of the liabilities or debts associated with the former ownership.
For Kesselman, this move represents more than just a business deal—it’s personal. “It’s surreal to be a small part of giving back to the community that helped make me,” he said.
With fresh leadership, bold plans, and deep cultural roots, High Times is aiming for a comeback that honors its legacy while evolving for the future
