TPCO Holding Corp. (“The Parent Company”), formerly known as Subversive Capital Acquisition Corp., completed its qualifying transaction to acquire leading California cannabis brand Caliva and predominant cannabis and hemp manufacturer Left Coast Ventures, with global icon and entrepreneur Shawn "Jay-Z" Carter and entertainment powerhouse Roc Nation.
Subversive Capital was the largest special purpose acquisition company ("SPAC") in both cannabis and Canadian history. With the completion of the transaction, The Parent Company common shares and warrants are now trading on the NEO Exchange under the symbols "GRAM.U" and "GRAM.WT.U", respectively, and as of January 19, 2021, the OTCQX symbol "SBVCF" changed to "GRAMF."
The Parent Company is presently the largest vertically integrated cannabis company in California. Operations span cultivation, extraction, manufacturing, distribution, brands, retail and delivery. Shawn “Jay-Z” Carter is The Parent Company’s Chief Visionary Officer responsible for brand strategy and The Parent Company Social Equity Ventures, a corporate venture fund investing in black and minority-owned cannabis businesses.
Aird & Berlis, in conjunction with U.S. law firms Reed Smith LLP and Cummings & Lockwood LLC, acted as legal counsel to Shawn “Jay-Z” Carter and his affiliate entities in the transaction. The Aird & Berlis team was led by Jack Bernstein and included Francesco Gucciardo (Tax), Richard Kimel and Russell Sanders (Capital Markets).