Canada markets open in 3 hours 42 minutes
  • S&P/TSX

    19,990.17
    -252.09 (-1.25%)
     
  • S&P 500

    3,941.26
    -57.58 (-1.44%)
     
  • DOW

    33,596.34
    -350.76 (-1.03%)
     
  • CAD/USD

    0.7308
    -0.0019 (-0.26%)
     
  • CRUDE OIL

    73.63
    -0.62 (-0.84%)
     
  • BTC-CAD

    23,026.49
    -342.55 (-1.47%)
     
  • CMC Crypto 200

    394.55
    -7.25 (-1.81%)
     
  • GOLD FUTURES

    1,784.70
    +2.30 (+0.13%)
     
  • RUSSELL 2000

    1,812.58
    -27.65 (-1.50%)
     
  • 10-Yr Bond

    3.5130
    0.0000 (0.00%)
     
  • NASDAQ futures

    11,525.00
    -41.00 (-0.35%)
     
  • VOLATILITY

    22.55
    +1.80 (+8.67%)
     
  • FTSE

    7,504.44
    -16.95 (-0.23%)
     
  • NIKKEI 225

    27,686.40
    -199.47 (-0.72%)
     
  • CAD/EUR

    0.6953
    -0.0043 (-0.61%)
     

The Parent Company Launches FaZe Rain's RCVRY Cannabis Brand

Merry Jane to host early access for RCVRY on September 12th, as well as a meet-and-greet at Calma West Hollywood on September 17th

100% of profits will be donated to "peer-to-peer" recipients with the objective to promote natural and healthy living

SAN JOSE, Calif., Sept. 12, 2022 /CNW/ - TPCO Holding Corp. ("The Parent Company" or "the Company") (NEO: GRAM.U) (OTCQX: GRAMF), a leading consumer-focused California cannabis company, today announced the exclusive launch of RCVRY, a premium cannabis brand co-founded  by Nordan Shat (aka FaZe Rain), Youtube star and co-founder of the popular esports and entertainment organization, FaZe Clan, along with Quinn "The Wizard", Yonatan Hagos and Erick Kahn. RCVRY, created in partnership with The Parent Company's Caliva premium cannabis brand, will open up early access hosted by Merry Jane on Monday, September 12th at 1:00 PM. The first 33 entrants will receive guaranteed access to RCVRY's launch products, limited-edition swag and VIP privileges at RCVRY's upcoming activation. All profits made from the launch will be donated to "peer-to-peer" recipients in need of financial assistance, with the objective to promote natural and healthy living.

The Parent Company Logo (CNW Group/The Parent Company)
The Parent Company Logo (CNW Group/The Parent Company)

"When I started my journey with cannabis back in 2015, I had very little knowledge on the different strains and experiences available to consumers. As I learned more about the space, I saw a need to further the potential of the industry by helping to advance the mainstream acceptance of cannabis," said Nordan. "RCVRY was created to further that goal and change opinions on cannabis while providing a consistent source of top-tier flower to all RCVRY community members. We are focused on delivering the cleanest cannabis possible to our consumers."

"We are thrilled to partner with Nordan Shat, aka FaZe Rain, and the RCVRY team, who share our passion for the plant," said Troy Datcher, Chief Executive Officer of The Parent Company. "FaZe Rain brings an immense audience, and our collaboration represents a prime opportunity to unlock the synergy between gaming and cannabis communities. My priority continues to be optimizing our portfolio of high-quality, authentic brands, and our partnership with RCVRY is another strong addition to our roster."

FaZe Rain was inspired to begin the RCVRY project following his difficult recovery process from severe nerve damage, when cannabis became an important piece of his well being. RCVRY is a cannabis brand created to support a lifestyle focused on wellness and creativity. The launch will include limited drop eighths of the "Rainz Runtz" strain, which was hand-selected by the RCVRY team in collaboration with TPCO and is the product of a meticulous process seeking exclusive flower. This strain gives off a faint berry-like smell and is part of the same lineage as the Zkittles and Gelato phenotypes. Rainz Runtz will be available in limited quantities exclusively at Calma dispensary in West Hollywood. The product will not be available for delivery.

Calma West Hollywood (1155 N La Brea Ave) and Merry Jane will host a meet-and-greet appearance on Saturday, September 17th from 1:00-4:00 PM with Nordan Shat and friends to celebrate the launch. At the event, Nordan will interact with customers while offering limited-edition merch giveaways and the opportunity to enjoy an onsite photo booth. The product features a QR code that provides customers access to a survey contest featuring questions about Nordan. The winner will receive the chance to hang out with Nordan and friends at a private LA location after the event. The event is open to consumers 21+ (or 18+ with a medical recommendation).

For more information, please visit, www.rcvry.io. 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.

Forward Looking Statements

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 launch of the RCVRY cannabis brand. 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.

Caution Regarding Cannabis Operations in the United States

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.

About FaZe Clan

FaZe Clan is a global lifestyle and media platform rooted in gaming and culture that has amassed over 500 million followers across social platforms. Its roster of content creators, esports professionals, and world-class gamers includes Kyler Murray, LeBron James Jr., Offset, Snoop Dogg and more.

About The Parent Company

The Parent Company is a leading consumer-focused, vertically integrated cannabis company with eleven retail locations, four delivery hubs 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."

For the latest news, activities, and media coverage, please visit www.theparent.co or connect with us on Instagram, LinkedIn, and Twitter.

SOURCE The Parent Company

Cision
Cision

View original content to download multimedia: http://www.newswire.ca/en/releases/archive/September2022/12/c1311.html