Investor Ideas Potcasts #518, Cannabis News and Stocks on the Move; (OTCQX: SBVCF) (NYSE: ACB) (TSX: ACB)
Delta, Kelowna, BC - January 15, 2021 (Investorideas.com Newswire) www.Investorideas.com, a global news source covering leading sectors including marijuana and hemp stocks and its potcast site, www.potcasts.ca release today's podcast edition of cannabis news and stocks to watch plus insight from thought leaders and experts.
Listen to the podcast:
Investor Ideas Potcasts #518, Cannabis News and Stocks on the Move; (OTCQX: SBVCF) (NYSE: ACB) (TSX: ACB)
Today's podcast overview/transcript:
Good afternoon and welcome to another episode of Investorideas.com "Potcast" featuring cannabis news, stocks to watch as well as insights from thought leaders and experts.
In today's podcast we will be looking at a few public company announcements.
TPCO Holding Corp. (OTCQX: SBVCF), formerly known as Subversive Capital Acquisition Corp., today announced the completion of its qualifying transaction to acquire CMG Partners Inc., and Left Coast Ventures, Inc. with global icon, entrepreneur and MONOGRAM founder, Shawn "JAY-Z" Carter and entertainment powerhouse Roc Nation.
Common Shares and Warrants are now trading on the NEO Exchange under the symbols "GRAM.U" and "GRAM.WT.U", respectively, and remain trading on the OTCQX under the symbols "SBVCF" and "SBVQF," respectively. Beginning January 19, 2021, the OTCQX symbol "SBVCF" will change to "GRAMF."
Shawn "JAY-Z" Carter, The Parent Company's Chief Visionary Officer, said, "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."
Michael Auerbach, Chairman of SCAC and The Parent Company, added, "This is an industry defining moment. With its experienced management team, advanced infrastructure, industry leading operational efficiencies, proven strategy of brands, and cultural influence, The Parent Company will help shape the future of cannabis in the U.S. and beyond as well as begin to repair and rectify the wrongs of prohibition."
Steve Allan, The Parent Company's CEO, said, "With both the most comprehensive vertically integrated platform and brand portfolio in California, and the healthiest balance sheet in cannabis, we will reshape the industry in the world's largest cannabis economy."
For transaction details, investors and security holders may obtain a copy of the final prospectus (the "Prospectus") associated with the Transaction on SEDAR at www.sedar.com and SCAC's website at www.subversivecapital.com/s/Prospectus.
Effective on closing, the senior management team and board of directors were reconstituted as follows:
- 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
Board of Directors:
- Carol Bartz, former CEO of Yahoo! and Autodesk
- Al Foreman, Partner of Tuatara Capital
- Daniel Neukomm, CEO of La Jolla Group
- Jeffry Allen, Director of Barracuda and former Director of NetApp
- Leland Hensch, CEO of SCAC
- Michael Auerbach, Founder and Chairman of SCAC
The Parent Company Investment Highlights
- Proven Business Model - The Parent Company (TPCO) is a fully vertically integrated platform with cultivation, manufacturing, distribution, brands, retail and delivery to support further brand development and an aggressive M&A strategy. TPCO expects pro forma revenues of $334 million in 2021.
- Progressive Operational Platform - TPCO owns its supply chain, enabling the company to leverage scale and profitably produce and distribute a broad portfolio of cannabis products for every consumer segment. The vertically integrated, omnichannel strategy maximizes gross profit and EBITDA margins, scales consumer reach, generates proprietary consumer data, and beats the illicit market on price, quality, and convenience.
- Omnichannel Platform - TPCO's scalable omnichannel business offers customers convenient express or scheduled delivery, and in-store or curbside pick-up, all through a single user-centric e-commerce platform, Caliva.com. This omnichannel e-commerce platform, offering both a robust portfolio of high-margin owned brands as well as third-party brands, allows The Parent Company to rapidly scale its direct-to-consumer reach to all Californians. Coupled with its powerful sourcing and low-cost manufacturing capabilities, this omnichannel platform offers consumers across California compelling pricing and convenience while remaining profitable.
- Exclusive Brand Partnerships and Leading Cultural Influence - Brand strategy and marketing playbook led by Shawn "JAY-Z" Carter and Roc Nation, leveraging unparalleled cultural influence of leading artists and entertainers to build the most valuable and scalable brand portfolio in cannabis. JAY-Z officially launched the first his flagship cannabis line, MONOGRAM, on December 10, 2020.
- Unrivaled Consumer Reach - TPCO currently reaches over 50% of consumers in California through Caliva.com, its existing direct-to-consumer platform. The Parent Company will have the greatest consumer reach of any cannabis company in California, reaching 75% of consumers in the state by the end of 2021 and almost 90% by the end of 2022 through scaling of its omnichannel platform.
- Strong Balance Sheet - The Parent Company is the most well-capitalized cannabis company in the United States and will pursue an aggressive M&A strategy to accelerate growth, market share gains, and profitability.
- Industry-Defining Social Impact - Led by Shawn "JAY-Z" Carter, The Parent Company will fund The Parent Company Social Equity Ventures with an initial target of $10 million and an annual contribution of at least 2% of its net income to invest in minority-owned and Black-owned cannabis businesses and contribute to the effort to rectify the wrongs of prohibition through diversifying both the business leadership and workforce of the cannabis industry. Beyond investing, the fund will also support organizations and programs focused on diversifying the cannabis workforce through job fairs and placement, industry training and education, as well as Social Equity application support.
Aurora Cannabis Inc. (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced that it has entered into an agreement with Great North Distributors Inc. ("Great North"), Canada's first national sales broker for legalized adult-use cannabis. Under the agreement, Great North will be the exclusive representative for Aurora's leading portfolio of brands across the Canadian cannabis retail environment.
"The agreement is designed to significantly bolster Aurora's market position in Canada. Great North brings deep experience across the spectrum of sales capabilities that will further differentiate Aurora as a leader in the growing cannabis space," said Miguel Martin, CEO, Aurora Cannabis. "We have selected Great North for their outstanding execution across regulated businesses. Combining their executional strength with Aurora's leading portfolio of brands is a recipe for success."
Great North has reach across every province in Canada, including established relationships and expertise in working with provincially-owned and operated retailers and private retailers in Canada's cannabis industry. Great North applies industry-leading data analytics capabilities to the sector, providing suppliers with a powerful data-driven approach to cannabis sales.
"Adding Aurora to our portfolio of companies we proudly represent is a signal of our market leadership," said Doug Wieland, President, Canada - Southern Glazer's Wine & Spirits and Great North Distributors. "Great North has executed in the Canadian cannabis market since day one and will immediately bring value in sales execution to Aurora. Aurora has entrusted their family of brands in our team and we look forward to delivering exceptional results."
Great North will assume responsibility for Aurora's sales execution on January 25, 2021.
Lastly we look at Kansas, which may be on its way to medical legalization, according to recent news.
Governor Laura Kelly (D) recently expressed support for providing medical marijuana access, and has further stated that she would also consider signing an adult use legalization bill into law should it reach her desk. As lawmakers ramp up efforts to legalize medical marijuana in the state in 2021, last week a spokesperson for Gov. Kelly said: "As our state recovers from COVID-19, legalizing medical marijuana is an innovative solution to increase state revenue and improve Kansas' overall health and economy. We must come up with a Kansas-specific approach that's well-regulated, controlled, and a collaborative effort with the law enforcement community."
It looks like Governor Kelly may have such a bill in front of her desk sooner rather than later as in recent news this Wednesday, a medical marijuana bill was introduced with the support of the Kansas Cannabis Industry Association.
Kansas is currently one of 14 states without legal access to medical marijuana though many supporters said they are confident enough lawmakers would support the bill if it was voted on. They said the bill would implement a regulated system, making sure the product is safe and tax is collected.
Spencer Duncan, Executive Director of the Kansas Cannabis Industry Association, said he thinks the bill may help boost the economy.
"We don't want to miss the economic benefits of that, but we also don't want to miss the true benefits that have been discovered as other states have gotten into it, and that we've heard from people firsthand even here in Kansas that have used it in other states and that's the number one priority," Duncan said. "Helping people get medical access to something that clearly has a beneficial effect."
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