Inaugural California brands selected to participate in program providing minority-owned brands with guaranteed shelf space and individualized mentorship
SAN JOSE, Calif., Jan. 25, 2023 /CNW/ - TPCO Holding Corp. ("The Parent Company" or "the Company") (NEO: GRAM.U) (OTCQX: GRAMF), a leading consumer-focused California cannabis company, today announced four participants in the Company's Social Equity Ventures ("SEV") Brand Success Program. Through the SEV Brand Success Program, The Parent Company aims to empower social equity brands with the knowledge and opportunity to scale their business, increase brand awareness, build customer loyalty, expand their retail presence and boost sales.
The Brand Success Program is a 12-week program implemented to provide minority-owned brands with guaranteed shelf space and individualized mentorship from the Company's sales, marketing, retail, and operational teams. Brands will learn best practices, operational procedures, and tips that can be applied to any retail outlet nationwide.
"We're extremely proud to launch the SEV Brand Success Program and partner with these four initial brands," said Troy Datcher, Chief Executive Officer and Chairman of the Board of The Parent Company. "The SEV team will support BSP participants from the moment they are accepted, and we are committed to providing mentorship that aids each brand in creating a solid, sustainable and scalable business."
The first round of entrants to the SEV Brand Success Program include:
- CRONJA: CRONJA is a Los Angeles-based, black- and veteran-owned cannabis lifestyle company and social equity brand known for its connoisseur-focused strain selection and hand-crafted cannabis accessories. With roots in the Midwest, the lifestyle brand specializes in crafting premium leather rolling trays and cases designed and handmade in Chicago, Illinois. CRONJA offers exceptional-quality packaged indoor flower, premium packaging, fair pricing, and outstanding retail support. CRONJA launched in select The Parent Company's stores on January 19th.
"The Parent Company's mission is to amplify and support minority brands, and we're proud to be selected as part of the Brand Success Program," said CRONJA's CEO, Bryant Bowens. "We've seen positive results from the partnership in the retail market and look forward to collaborating further."
- Substance & Skewville: Plaid America is the Venice, CA-based team behind the art-centric Substance and Skewville brands, which are best known for their tiny 12 packs of premium pre-rolls that each have a unique donation model designed to propel racial equity.
For each pack of Substance sold, $8.46 is donated to help end mass incarceration. An important number in American history, $8.46 pays homage to the last 8 minutes and 46 seconds of George Floyd's life.
Skewville's $2 per pack donation supports prison art programs, which are known to reduce recidivism.
Substance and Skewville will launch products at select stores on January 30th.
"Plaid is extremely grateful to partner with The Parent Company as part of the Brand Success Program," said Plaid's CEO & Co-Creator, Sharoz Makarechi . "We're excited for this opportunity to increase brand awareness of Substance and Skewville and point to initiatives combating the damage done to communities by the false War on Drugs."
- Peakz: Founded in 2018 after winning a distribution license via Oakland's Social Equity Program, The Peakz Company aims to bring culture to the legal cannabis industry. The company's products feature top-shelf luxury flower while providing an authentic connection to cannabis culture. Peakz is known for its curated strains; unique in-house designs; and high-level partnerships and creative collaborations with premium retailers, cultivators and other brands in the space. Peakz is scheduled to re-launch on February 3rd at select stores.
"We are honored to work with The Parent Company and utilize their wide network to continue to grow our business," said Peakz's CEO, Jessie Grundy. "Knowledgeable support and education programs from leading operators are extremely helpful and a big need for emerging brands to break through in the legal marketplace."
- Disco Jays by MAKR House: MAKR House was founded in Oakland, CA, by Amber Senter, a medical cannabis patient who utilized the plant to cope with symptoms of a health condition. Amber is also the co-founder and Executive Director of Supernova Women, a 501(c)3 nonprofit organization that provides spaces and resources to people of color in the cannabis industry. A house of brands creating accessible, high-quality cannabis products, MAKR House, works to build inclusive supply chains. MAKR House will launch products in early February at select stores.
"I'd like to thank the Parent Company for selecting a diverse and unique group of Black operators and making shelf space available to them," said Amber Senter, Founder & CEO of MAKR House. "It's a fantastic opportunity to collaborate with an operator committed to mission-driven initiatives that go beyond performative measures."
The Parent Company is committed to supporting BSP participants by utilizing the Company's consumer database, team of marketing experts, and robust social media presence to promote each participating brand. BSP participants will receive support through blog posts, SMS ads, website banners, photography, video, content development, and more.
The SEV BSP is currently open for applications from California operators and brands. For more information on how to apply, please email BSPSubmission@theparent.co.
The Parent Company is a leading consumer-focused, vertically integrated cannabis company with twelve retail locations, one delivery hub and a curated product portfolio including Monogram by Shawn "JAY-Z" Carter, Caliva, Mirayo by Santana, Fun Uncle and Deli.
The Parent Company is committed to leveraging its status to help build a more equitable cannabis industry. Its social equity venture fund aims to eliminate systematic barriers to entry and provide minority entrepreneurs with meaningful participation, growth, and leadership opportunities 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."
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References to information included on websites do not constitute incorporation by reference of the information contained at or available through such websites, and you should not consider such information to be part of this press release.
This press release contains forward-looking information within the meaning of applicable securities legislation which reflects The Parent Company's current expectations regarding future events. The words "will", "expects", "intends", "believes" and similar expressions are often intended to identify forward looking information, although not all forward-looking information contains these identifying words.
Specific forward-looking information contained in this press release includes, but is not limited to, statements concerning the Company's Brand Success Program and its inaugural participants. Forward-looking information is based on a number of assumptions and is subject to a number of risks and uncertainties, many of which are beyond The Parent Company's control, which could cause actual results and events to differ materially from those that are disclosed in or implied by such forward looking information. Such risks and uncertainties include, but are not limited to: changes in general economic conditions including the impact of increasing inflation, the continued significant price compression in flower and distillate oil in the California market, competition in both our wholesale and omni-channel retail channels, business and political conditions, changes in applicable laws, the U.S. and Canadian regulatory landscapes and enforcement related to cannabis, changes in public opinion and perception of the cannabis industry, reliance on the expertise and judgment of senior management, as well as the factors discussed under the heading "Risk Factors" in The Parent Company's Annual Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 31, 2022 and in the Company's periodic reports subsequently filed with the SEC and in the Company's filings on SEDAR at www.sedar.com. The Parent Company undertakes no obligation to update such forward-looking information, whether as a result of new information, future events or otherwise, except as expressly required by applicable law.
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute, or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve The Parent Company of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of The Parent Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance.
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