Subversive Capital Closes Qualifying Transaction, Becomes The Parent Company
Subversive Capital Acquisition Corp has transitioned to that of TPCO Holdings Corp (NEO: GRAM.u) (OTC: SBVCF) as of this morning. Also known as The Parent Company, the company has now completed its qualifying transaction by acquiring that of Left Coast Ventures and CMG Partners, also known as Caliva, while also having arrangements in place with Jay-Z and Roc Nation.
The closing of the transaction sees The Parent Company become a fully integrated vertical platform in the state of California, while being one of the best capitalized operators in the US cannabis space. With cultivation, manufacturing, distribution, brands, retail and delivery being included under its belt, the company has indicated that it expects pro-forma revenues of $334 million in 2021, while placing a heavy emphasis on an aggressive M&A strategy for the year.
The company also has notable brand partnerships, which is lead by Chief Visionary Office Shawn “Jay-Z” Carter and the arrangement currently in place with Roc Nation. The partnership gives the company cultural influence from leading artists and entertainers that is unparalleled within the US cannabis space.
“This is an incredible time for this industry. The end of cannabis prohibition is here, and The Parent Company will lead the charge to a more expansive and inclusive cannabis industry. We are paving a path forward for a legacy rooted in dignity, justice, care, and consistency. The brands we build will redefine growth, social impact, and social equity. This is our time. I’m proud and excited to lead the vision of The Parent Company.”
Shawn “JAY-Z” Carter, The Parent Company’s Chief Visionary Officer
Following the close of the transaction, the company has seen its management team redefined to the following:
- Steve Allan as Chief Executive Officer
- Brett Cummings as Chief Financial Officer and President of Left Coast Ventures
- Dennis O’Malley as Chief Operating Officer and President of Caliva
- Shawn “JAY-Z” Carter as Chief Visionary Officer
- Desiree Perez as Chief Social Equity Officer
- Drew Kornreich as Chief M&A Officer
- Colin Brown as Chief Legal Officer
- John Figueiredo as President of SISU
As a result of the closing of the transaction, the company now trades under the symbol “GRAM.u” while its warrants trade under the symbol “GRAM.WT.u” on the Neo Exchange. The company will maintain its current ticker on the OTC Markets.
The Parent Company last traded at $12.47 on the Neo Exchange.
FULL DISCLOSURE: Subversive Capital Acquisition Corp is a client of Canacom Group, the parent company of The Deep Dive. The author has been compensated to cover Subversive Capital Acquisition Corp on The Deep Dive, with The Deep Dive having full editorial control. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security.
As the founder of The Deep Dive, Jay is focused on all aspects of the firm. This includes operations, as well as acting as the primary writer for The Deep Dive’s stock analysis. In addition to The Deep Dive, Jay performs freelance writing for a number of firms and has been published on Stockhouse.com and CannaInvestor Magazine among others.
