Jay-Z continues to make power plays and has finalized the business consortium of his company Roc Nation with CMG Partners Inc., Left Coast Ventures Inc. and Subversive Capital Acquisition Corp.
The umbrella of companies will be known as TPCO Holding Corp, or The Parent Company. The union is being called the largest cannabis special purchase acquisition company (SPAC) deal ever and Jay-Z will serve as chief visionary officer of The Parent Company. Hov will lead brand strategy as well as the company’s social equity ventures and start a corporate venture fund that will invest in Black- and minority-owned cannabis businesses.
The deal also makes The Parent Company the largest vertically integrated cannabis operation in California as well as the most funded. Investors on the Roc Nation end include Rihanna, Meek Mill, Yo Gotti and DJ Khaled.
“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,” Jay-Z said in a press release.
The company has common shares and warrants now trading on Canada’s NEO Exchange. Just last month, Jay-Z also released his Monogram cannabis strain to the world. Monogram was Roc Nation’s initial partnership with Caliva (CMG Partners), another leading California cannabis company. The success of that deal has apparently led to both companies becoming members of the cannabis conglomerate.
More information on Jay-Z’s line can be found at www.monogramcompany.com. The company is promoting Monogram through a series of videos with various rappers called “High Tales” where artists like N.O.R.E. and Jadakisss relive some of their most euphoric moments. Check out Jada and N.O.R.E.’s testimonials on the next page.
