SAN JOSE, California, Sept. 27, 2022 - PRESS RELEASE - TPCO Holding Corp. (The Parent Company), a consumer-focused California cannabis company, announced that it has acquired the remaining 15% equity of its Calma Weho LLC (Calma) dispensary following receipt of all necessary regulatory approvals.
Located in the Los Angeles metropolitan region, the 3,250-square-foot dispensary is one of eleven stores in the West Hollywood area that is licensed for storefront retail and is surrounded by cultural destinations and tourist attractions in every direction. Since the first closing, the company has rolled out its full brand offering and recently debuted its Monogram "store within a store" concept, providing consumers a curated experience of the Monogram brand and line of products.
"The energy and excitement at Calma are fantastic, and it boasts the best flower assortment in West Hollywood," said Troy Datcher, The Parent Company CEO and chairman. "It's both a beautiful dispensary and an incredible gathering space that we have used to host events and collaborations, including our recent FaZe Rain RCVRY product launch, which saw phenomenal community response and surpassed our expectations. With an intentional menu selection that showcases a variety of consumption methods, Calma caters to both those about to embark on their cannabis journey as well as experienced connoisseurs, and we are thrilled to have now completed the acquisition."
In connection with the final closing of the acquisition, The Parent Company issued an aggregate $1.5 million common shares of the company to equity holders of Calma.
