High Times chalks up crypto investor first

The cannabis brand has become the first ever stock offering to accept cryptocurrencies

High Times, a New York-based monthly magazine, was founded in 1974 and has featured original works from such counterculture and literature big hitters as Truman Capote, Hunter S.Thompson, Charles Bukowski and William Burroughs. Nowadays it is also in the websites, apps and live events business. Its equity-crowdfunding process, under Regulation A+, has begun the process of bringing in Bitcoin and Ethereum.

High Times CEO, Adam Levin, says: “We have been at the forefront of popular culture for more than four decades. Now we’re taking another step into the future, not only as one of the first cannabis-related brands to go public on the Nasdaq but also as the first to allow Bitcoin and Ethereum as part of our public capital raise.”

The company has filed its latest Reg. A report, detailing almost $29 million in reduction of negative equity, significant decreases in operating losses, and a debt reduction, with the US Securities & Exchange Commission.

No to ICO

“Cryptocurrencies have created a new investor base across the world—we’re just giving them more stable opportunities for investment,” says Levin. “Beginning with our Reg. A+ crowdfunding, we’ve been focused on giving everyone from retail investors to long-time fans more ways to own a piece of High Times. While we didn’t believe that the ICO process was the right move for our brand, it would’ve been foolish to leave this emerging investor base out as we continue to transform into a diversified media, events and merchandise giant.”

Investors can purchase shares at HighTimes.com/Invest.

Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.

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