In an about face, a High Times spokesperson has shared with CI that crypto, like Bitcoin, will be accepted as payment for securities issued during their Reg A+ crowdfunding round.
CI reported this past August that High Times would be accepting cryptocurrencies in exchange for shares in the company. Following that initial report, High Times backed away from their intent to accept crypto as payment for securities.
Prime Trust, a service that provides escrow options for crowdfunded investments including digital assets, explained the challenge with accepting crypto as payment. In brief, Prime Trust said it was doable but really not worth the hassle.
Today, High Times states that, after some extensive legal discussion, they are happy to announce that via their partnership with Prime Trust investors may now choose Bitcoin as a payment option to invest in High Times Holding Corporation.
As for the funding round, High Times believes it is well positioned to take advantage of the current Cannabis climate. Soon in Canada, recreational use will be legal in all of the country’s provinces. In the US, there is growing acceptance by policymakers that Cannabis is easier to regulate (and tax) as opposed to criminalizing casual use.
If you are interested in learning more about the High Times offer, the company has put together an investor page here, but don’t forget to read the Offering Circular.
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