Cannabis News Portal High Times Gave Up Supporting Bitcoin (BTC)
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High Times, “world’s leading source for daily cannabis news, weed information and marijuana culture since 1974”, as it describes on the website, announced that it will no support Bitcoin (BTC) as promised earlier.
Famous cannabis news portal High Times, revealed a few days ago that will support Bitcoin and Ethereum Network’s cryptocurrency Ether as part of its IPO through which the platform targets $ 50 million in sponsorship.
High Times CEO Adam Levin explained that the company was “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 ether as part of our public capital raise,” as stated in a press release.
It gave up supporting Bitcoin (BTC)
Recently, the High Times revealed the opposite of its latest announcement. Via a report published by the U.S. SEC, the company mentioned it was “a mistake” referring to providing support for Bitcoin.
“On August 3, 2018, the Company published a press release relating to its Regulation A+ offering stating that it would accept bitcoin as a form of payment for subscription to the Company’s shares,” the document elaborated, adding that:
“This press release was distributed in error as the Company will not be accepting bitcoin as payment for shares. As provided in the Company’s subscription agreement related to the offering, the Company will only be accepting check, credit card, ACH or wire transfer as payment for subscription to shares.”
Notably, the document makes no reference to the second coin, Ether, which indicates that the promised support for it is still valid.
The High Times’ Initial Public Offering (IPO) will be public via a Regulation A + exemption until the company reaches its target of $ 50 million or September 12, the original closing date. Investors are still able to purchase the company’s stock.
Author: Adriana Midrigan
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