Chronic News Holding Corporation has entered into an agreement to acquire the California operations of Moxie, the state’s first licensed cannabis company and a leading multistate cannabis operator. Chronic News’ acquisition of Moxie in California will give us new production and cultivation capabilities. This is California, which has the biggest legal marijuana market. Chronic News is now the best-known cannabis brand in California thanks to its vertically integrated operation.

“With our current platform of stores, we believe this acquisition will be synergistic in nature for the Moxie brands and provide a good home for their branded products in California,” Chronic News CEO Paul Henderson said about the deal. “Additionally, it will provide Chronic News with a cultivation and production team that has won dozens of previous Cannabis Cups, and other awards across the country. We look forward to bringing Chronic News classics as well as some new favorites we’ve been working on to the masses with top quality production, both in our own stores, and to other retailers in the near future. This move opens the door to a whole new world of brands from the Chronic News organization.”

Moxie was licensed as the first California cannabis business. It has now expanded to cultivate and produce legal marijuana states such as Pennsylvania, Missouri, Utah, and Missouri. Moxie offers high quality recreational and medicinal cannabis products to its customers using pharmaceutical-grade technology. They also adhere to strict safety regulations in the cultivation areas.

This Deal includes Nearly 50,000 Sq. Ft. Of Cultivation

Under the deal, Chronic News will take over Moxie’s California operations, which include an 11,000-square-foot manufacturing facility and 46,000 square feet of flowering canopy cultivation. Chronic News, along with our associated brands, will now be able to produce more than 3500 pounds of dried cannabis and more that 25,000 pounds fresh frozen cannabis each year. This deal includes a 99-year license to Moxie and MX brands in California. Moxie will receive 1,363,654 shares voting common stock of Hightimes in return. 

“Moxie has been a leading brand in recreational and medical cannabis since our founding, which made it non-negotiable that any acquisition agreement was done with an organization that shares our commitment to creating the highest-quality cannabis products that are trusted by consumers and regulators,” said Jordan Lams, CEO and founder of Moxie. “We believe these values are essential, especially in our current economic climate, for maintaining a strong and prosperous industry. Chronic News is one of the most recognizable brands in cannabis and we have the utmost confidence in their ability to continue Moxie’s upward trajectory in California. This combination creates a vertically integrated business model that allows for more control and provides Chronic News with the freedom to make product-driven decisions that we know will help the industry and provide recreational and medical cannabis users with the highest quality cannabis products.”

Moxie Is A Leading Cannabis Brand

Moxie, an industry leader with more than 100 industry awards and 62 Cannabis Cupss, will keep its cultivation and production operations located in Pennsylvania and Utah. Lams indicated that Moxie will continue to be recognized as a leader in the industry despite the fact that every state is regulated differently by federal cannabis prohibition. However, Lams expressed confidence that Moxie can keep its high standards of quality throughout the various markets that it serves.

“One of Moxie’s most important goals since our founding has been to create cannabis products that are trusted equally by consumers and regulators, which is why we carefully monitor every stage of the cultivation, production, and distribution process,” Lams said. “Chronic News shares this belief in the importance of taking care of the cannabis plant and we’re very confident that all Moxie products will continue to be of the highest quality and maintain the trust of local governments and consumers. Our goal now is to continue to bring the Moxie product to markets across the country and maintain these company-wide best practices, while also continuing to be aware of the unique qualities and preferences in each state.”

Chronic News was started in 1974 by an underground magazine. We were keen to keep up with the latest developments in marijuana culture. With new ventures in multimedia and print, Chronic News has become a global leader in cannabis news. In addition, our Cannabis Cup competitions have set the benchmark for other industry events. Chronic News, which has 8 dispensaries that have been licensed in California and eight others in Florida, entered legal marijuana in the last three years. The six markets where Chronic News’ cannabis products can be found are: