SAN JOSE, Calif., Oct. 11, 2021 /PRNewswire/ – TPCO Holding Corp. (“The Parent Company” or the “Company”) (NEO: GRAM.U) (OTCQX: GRAMF), today announced that its amended registration statement on Form 10 (the “Registration Statement”) originally filed with the Securities and Exchange Commission (“SEC”) on August 9, 2021 became effective on October 8, 2021.
The Registration Statement registered the Company’s common shares (the “Common Shares”) and share purchase warrants (the “Warrants” and, together with the Common Shares, the “Securities”) under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) in advance of potentially being permitted to list the Common Shares and the Warrants on the New York Stock Exchange or the Nasdaq Stock Market. As a result of the registration of the Securities, the Company will, among other things, now file periodic (Forms 10-K and 10-Q) and current (Form 8-K) reports with the SEC.
With the SAFE Banking Act heading to the Senate and national support for cannabis reform at an all-time high, we are working quickly to capitalize on the opportunity to up list to a mature US exchange following further advancement at a Federal level. Our successes in California have provided us with a strong foundation that we expect to leverage nationally as the industry grows.
Troy Datcher, Chief Executive Officer of The Parent Company
Up listing our shares will provide seamless access across all trading platforms and applications, enabling a broader pool of investors to share in our success as we become the most impactful cannabis company in the world.
The Registration Statement was filed to, among other things, provide liquidity to its shareholders by (a) making the Company eligible to register Common Shares issuable pursuant to the TPCO Holding Corp. Equity Incentive Plan the Securities Act of 1933, as amended (the “Securities Act”), on Form S-8 and (b) facilitate trading of the Common Shares and Warrants under Rule 144 promulgated under the Securities Act of 1933, as amended, one year after the filing of the Registration Statement.
About The Parent Company:
Formed in January 2021, The Parent Company is a leading vertically integrated California cannabis company. The company’s three manufacturing facilities provide access to high-quality, low-cost cannabis, while its vast wholesale distribution network of more than 450 California dispensaries, a premier direct-to-consumer omnichannel platform, now expanded to five consumer delivery hubs and eleven omni-channel retail locations, currently service just over 80% of the largest legal cannabis market in the country. The Company’s curated product portfolio includes eight of the most valuable and scalable brands in cannabis, including Monogram by Shawn “JAY-Z” Carter, Caliva, Deli, Fun Uncle, and Mirayo, which sets the tone for The Parent Company’s industry leadership in California and beyond.
In addition to its vast manufacturing infrastructure, consumer reach and cultural influence, The Parent Company is committed to using its resources and status to play a significant role in molding a more equitable cannabis industry. Its social equity ventures initiative, established by Chief Visionary Officer Shawn “JAY-Z” Carter, was created to break down the systematic barriers Black and other minority entrepreneurs face as they endeavor to secure meaningful participation, growth and leadership in the multibillion-dollar legal cannabis industry.
Shares of The Parent Company common stock are traded on NEO Exchange under the ticker symbol “GRAM.U” and on the OTCQX under the ticker symbol “GRAMF”.