SAN JOSE, Calif.--(BUSINESS WIRE)--TPCO Holding Corp. (“The Parent Company”) (NEO: GRAM.U, GRAM.WT.U) (OTCQX: GRAMF; OTC PINK: GRMWF) house of brands, extends its product offerings today with the launch of Fun Uncle Cruisers, full gram vape cartridges available in five popular strains for just $25.
The launch of Cruisers delivers on The Parent Company’s promise of product economics resulting from the merger of California’s top cannabis companies under The Parent Company earlier this year. By bringing together the best of cultivation, extraction, manufacturing, branding and omnichannel distribution, The Parent Company has created the largest vertically integrated cannabis company in California, with efficiencies and resources to create quality cannabis at an approachable price point, resulting in best-in-class product margins. Distillate for Cruisers is produced by leveraging The Parent Company’s in-house extraction team, which sources flower from a network of over 500 California growers and currently provides 20% of the distillate sold in the state. These in-house capabilities ensure a superior product that is produced at a greater value than ever before in the legal market. The $25 MSRP is an industry disruptor as 90% of the $500M in 1g vape sales today have an MSRP over $401. Cruisers will also be conveniently available for California consumers through the power of The Parent Company’s omnichannel direct-to-consumer platform – an integrated retail and e-commerce platform offering in-store pickup, curbside pick-up, express delivery and scheduled delivery at caliva.com – as well as The Parent Company’s in-house distribution company which actively reaches over 450 dispensary accounts.
“Our strategy in forming The Parent Company was to maximize product margins by owning our own supply chain, and our initial product launch of Fun Uncle Cruisers executes against what we set out to do” said The Parent Company CEO Steve Allan. “We are entering this category with the goal to be the clear category leader. With our extensive direct-to-consumer reach, a state-wide network of dispensary wholesale customers, large scale manufacturing capacity and access to raw materials, we have all the capabilities to achieve this goal. These new cartridges conveniently deliver a full gram of high-quality distillate at a very competitive price.”
Fun Uncle is a retro-stylized line of premium value cannabis, paying homage to marijuana’s early heyday, with low prices reminiscent of the past to match. Cruisers are the brand’s first vape offering, a full gram sold for just $25, packaged in reliable Universal 510 cartridges, and available in a variety of popular strains: Lemon Jack, Strawberry Cough, Berry Gelato, SFV OG, and GG4. The distillate is extracted and run through The Parent Company’s proprietary triple filtration process to produce full-spectrum distillate that tests over 80% THC, making them an exceptional value for the quality and flavor.
Fun Uncle Cruisers are available at Caliva retail stores, delivery through caliva.com, as well as fine cannabis retailers throughout California via wholesale distribution. For more information, visit caliva.com.
ABOUT CALIVA
Caliva is a leading single-state cannabis operator in California. Founded in 2015, Caliva’s industry advantage comes from its vertical integration and direct-to-consumer platform. This direct-to-consumer experience enables customers to purchase cannabis at Caliva’s retail stores and place orders online for in-store pickup or same-day delivery straight to their door. Caliva’s plant-based solutions are designed to fit any lifestyle. Caliva’s commitment to compliance and quality reinforce its position as THE MOST TRUSTED NAME IN CANNABIS™. For more information visit caliva.com or follow along on Instagram, @GoCaliva.
ABOUT THE PARENT COMPANY
The Parent Company (TPCO Holding Corp.) (NEO: GRAM.U, GRAM.WT.U) (OTCQX: GRAMF; OTC PINK: GRMWF) is California’s leading vertically integrated cannabis company combining best-in-class operations with leading voices in popular culture and social impact. The Parent Company brings together global icon and entrepreneur Shawn “JAY-Z” Carter, entertainment powerhouse ROC NATION, California’s leading direct-to-consumer platform CALIVA, and leading cannabis and hemp manufacturer, LEFT COAST VENTURES, to form a cannabis industry leader for the post-prohibition era. Chief Visionary Officer Shawn “JAY-Z” Carter, one of the most recognized and celebrated entrepreneurs of our time, will guide The Parent Company’s brand strategy in partnership with Roc Nation, the world’s preeminent entertainment company with a roster of culture-making artists, athletes and influencers. The brands we build together will pave a new path forward for a legacy rooted in equity, access, and justice.
For more information, please visit www.theparent.co.
FORWARD LOOKING STATEMENTS
This press release may contain 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” 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 launch of Fun Uncle Cruisers and the associated financial impact of those products. 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, 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 final prospectus dated December 16, 2020, which is available 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.
1 SOURCE: BDSA, Geography: CA, Time Period: 2020, Revenue by price point, Category: Vape, Size: 1 gram
