On January 15, 2021, TPCO Holding Corp. (“The Parent Company”), formerly known as Subversive Capital Acquisition Corp., completed its qualifying transaction to acquire Canadian cannabis company Left Coast Ventures, Inc. and California cannabis company CMG Partners Inc. (“Caliva”), with global icon and entrepreneur Shawn “JAY-Z” Carter and entertainment powerhouse Roc Nation. Subversive Capital was the largest cannabis SPAC in history and is now the largest vertically integrated cannabis operation in California, seeking to redefine the industry with a mission to both consolidate the California cannabis market and create an impactful global company.
Shawn “JAY-Z” Carter, the Chief Visionary Officer of The Parent Company, will lead brand strategy and The Parent Company social equity ventures, a corporate venture fund investing in black and minority-owned cannabis businesses. The Parent Company is the largest cannabis company in California by revenue, footprint and brand portfolio.
Cassels acted for Left Coast Ventures, represented by Partner, Andrea FitzGerald (Securities, M&A and Cannabis).