The world’s oldest magazine about cannabis sells shares for bitcoin and ether
High Times is an American monthly magazine of 100 pages entirely dedicated to the “grassy” theme and published since 1974. The publication of the journal covers a wide range of topics related to psychotropic cannabis: cultivation, breeding, medical and recreational use, legal aspects, antiprohibitionists traffic and more.
In the application to the Commission on securities and exchange Commission (SEC), which was filed in August, High Times (now it is not only a magazine, but a media group) noted that by mistake issued a release to the press which indicated that for the first time in the history of the mass market accepting the cryptocurrency: “3 August 2018, the company issued a press release relating to the disposition of its stock. The document says that the company intends to accept bitcoin as payment for subscription of securities of the company. We inform you that this is a mistake, the company has no such plans.”
The statement caused considerable bewilderment and confusion among the public, however, now made clear: High Times magazine ACCEPTS cryptocurrency during its IPO. But with a caveat: the company will not directly own cryptocurrency, the money will be converted into Fiat currency through the payment system.
The representative of the High Times said CoinDesk that the publication intends to clarify its intentions in response to the concerns expressed by the Commission on securities and stock exchanges:
We accept cryptocurrency, but it is technically America Fund takes bitcoin and Ethereum… the same as if we were international IPO and took the pounds or euros, these guys have converted them into dollars.
The company carries out a placement of shares under Regulation A (securities issue worth up to $50 million, is partially exempt from the registration requirements of the SEC). High Times hopes to inclusion of securities in listing on NASDAQ.
The fact that the world’s oldest magazine about hemp sympathetic to the cryptocurrency, not too surprising: the industry of digital currencies and marijuana have a lot in common, since both areas are a mixed reputation and are rapidly gaining legitimacy in the eyes of the masses.