Legacy Cannabis Brand Opens Doors to Fans and Crypto Investors via Regulation A + Stock Offering
LOS ANGELES, Aug. 02, 2018 (GLOBE NEWSWIRE) -- High Times – In a first for U.S. initial public offerings, High Times Holding Corp., the preeminent cannabis brand, today announced that it will become the first traditional stock offering ever to accept investments made in the company through Bitcoin and Ethereum. The iconic cannabis brand has begun accepting the leading cryptocurrencies during its current equity-crowdfunding process under Regulation A+ of the JOBS Act, another first.
“High Times has been at the forefront of popular culture for more than four decades,” said High Times CEO Adam Levin. “Now we’re taking another step into the future, as not only 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.”
High Times is now allowing investors to use Bitcoin and Ethereum in addition to traditional fiat in order to enable a much broader group of investors worldwide to take part in the historic launch of High Times as a public company, Levin said.
“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,” Levin said. “Cryptocurrencies have created a new investor base across the world - we’re just giving them more stable opportunities for investment.”
Investors will be able to purchase shares in High Times for as little as $11, a 10-percent discount to the anticipated strike price of the Nasdaq listing scheduled for later this year.
Bitcoin was the world’s first and remains its most prominent and heavily traded cryptocurrency. Ethereum is widely considered the most important next-generation cryptocurrency, and is the basis for many blockchain-based businesses now reaching the market.
In late June, High Times filed its latest 1-A regulatory report with the U.S. Securities & Exchange Commission. The report details a $28.9 million reduction in negative equity, a significant decrease in operating losses, and a debt reduction and extension. The company has recently made a series of acquisitions, and anticipates opening on the market in Q3 of this year.
About High Times Media
For more than 40 years, High Times has been the authoritative voice of authentic cannabis culture, leading the fight for legalization and empowering the burgeoning industry’s legal entrepreneurs. High Times content spans digital, social, video and print platforms as well as location-based events highlighted by the Cannabis Cup global franchise and the High Times Business Summit conference series. Visit us at HighTimes.com, and follow @HIGH_TIMES_Mag on Twitter, @hightimesmagazine on Instagram or like us on Facebook at: https://www.facebook.com/HIGHTIMESMag/
Forward-Looking Statements
This presentation may include ''forward-looking statements.'' To the extent that the information presented in this presentation discusses financial projections, information, or expectations about Hightimes Holding Corp.’s business plans, results of operations, products or markets, or otherwise makes statements about future events, such statements are forward-looking. Such forward-looking statements can be identified by the use of words such as ''should,'' ''may,'' ''intends,'' ''anticipates,'' ''believes,'' ''estimates,'' ''projects,'' ''forecasts,'' ''expects,'' ''plans,'' and ''proposes.'' Although Hightimes Holding Corp. believes that the expectations reflected in these forward-looking statements are based on reasonable assumptions, there are a number of risks and uncertainties that could cause actual results to differ materially from such forward-looking statements. You are urged to carefully review and consider any cautionary statements and other disclosures, including the statements made under the heading "Risk Factors" and elsewhere in the offering statement filed with the SEC. Forward-looking statements speak only as of the date of the document in which they are contained, and Hightimes Holding Corp. does not undertake any duty to update any forward-looking statements except as may be required by law.
Legal Disclaimer
The offering will be made only by means of an offering circular. An offering statement on Form 1-A relating to these securities has been filed with the U.S. Securities and Exchange Commission and has become qualified. The securities offered by Hightimes Holding Corp. are highly speculative. Investing in shares of common stock of Hightimes Holding Corp. involves significant risks. The investment is suitable only for persons who can afford to lose their entire investment. Furthermore, investors must understand that such investment could be illiquid for an indefinite period of time. No public market currently exists for the securities, and if a public market develops following the offering, it may not continue. For additional information on Hightimes Holding Corp., the offering, and any other related topics, please review the Form 1-A offering circular that can be found HERE.