When Jay-Z does anything, he tends to do it big. The Parent Company, a conglomerate of several companies headed by Shawn “Jay-Z” Carter, made its debut on the NEO Exchange (The NEO Exchange is home to over 100 corporate and ETF listings, and consistently facilitates more than 13 percent of all Canadian trading volume) today to become the largest SPAC (Special Purpose Acquisition Company) in cannabis history.
A vertically integrated cannabis company, The Parent Company is a consolidation of the California cannabis market formed by Jay-Z, Roc Nation, and top California cannabis operators, CMG Partners Inc. (Caliva) and Left Coast Ventures Inc.
Jay-Z will be playing an active role in the company’s operations as The Parent Company’s Chief Visionary Officer. “Although we can’t fully redeem the injustices created by the ‘war on drugs,’ we can help shape a brighter and inclusive future. The brands we build will pave a new path forward for a legacy rooted in equity, access, and justice. We’re creating something people can trust and we’re investing in our future, our people, and our communities” the businessman says in a written statement.
Based on revenue, footprint, and brand portfolio, The Parent Company is the largest cannabis company in California.
“In addition to building the most influential portfolio of cannabis and hemp brands in the world, The Parent Company’s vertical operational platform has been designed for growth and future mergers and acquisitions, forging a path to redefine the cannabis industry in California and beyond,” added Steve Allan, CEO of The Parent Company. “No peer in the cannabis marketplace can compete with the unique value proposition we offer.”
Interested parties can trade shares of The Parent Company (NEO:GRAM.U) through their investment channels, including discount brokerage platforms and full-service dealers.
“The launch of The Parent Company on NEO demonstrates, once again, the incredible potential of the SPAC as a highly successful investment vehicle and an enabler of lighthouse go-public transactions, when leveraged by the right company on the right exchange,” commented Jos Schmitt, President, and CEO of NEO. “By selecting the NEO Exchange as their preferred listing partner, Subversive Capital and The Parent Company have acknowledged NEO as the Canadian exchange of choice for SPACs and industry-defining companies. We are eager to further demonstrate the value and benefits that NEO can offer to innovative, high-growth companies.”
For more information, visit www.theparent.co