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TPCO Holding Corp. has announced a significant expansion into Maryland through a licensing agreement with Curio Wellness. This partnership will introduce top brands like Monogram and Caliva to the state, with products available at Curio's Far & Dotter dispensaries by late 2022. The agreement allows Curio to exclusively manufacture and sell TPCO's products under strict quality standards for an initial term of four years. This marks TPCO's first major out-of-state expansion, aiming to enhance their presence and cater to Maryland's cannabis market.
TPCO Holding Corp. has announced the resignation of Dennis O'Malley, its Chief Operating Officer, effective March 15, 2022. O'Malley, who has held the position since January 2021, will assist with the transition until his departure. Troy Datcher, the CEO, has expressed confidence in the company’s direction and has extended a voluntary lock-up agreement for Board Directors and leadership. The Parent Company, a major player in California's cannabis market, operates extensive facilities and distribution networks, aiming for significant market influence.
TPCO Holding Corp. (OTCQX: GRAMF) announced a voluntary twelve-month extension of lock-up agreements for insiders covering over 34 million shares, approximately 35% of its common stock. The extended lock-up involves the entire Board of Directors and the leadership team, demonstrating confidence in the company's long-term growth following recent expansions. CEO Troy Datcher highlighted advancements in reaching over 80% of California's population, tripling storefronts, and innovating products as key achievements that support shareholder value. Lock-up terms restrict share selling, with exceptions under certain conditions.
TPCO Holding Corp. announced CEO Troy Datcher's participation in key cannabis industry conferences. Datcher will be on the US Cannabis Council panel at the NBCSL 45th Annual Legislative Conference on December 3, 2021, and will be a keynote speaker at the NCIA Business Summit & Expo on December 16, 2021. The Parent Company is a vertically integrated cannabis producer in California, serving approximately 80% of the state's legal cannabis market through its vast distribution network and diverse product portfolio.
The Parent Company, a leading California cannabis firm, appointed Tiffany McBride as Managing Director of Social Equity Ventures and Kerry Arnold as Chief People Officer. McBride, with 15 years of experience, will lead initiatives to support minority cannabis entrepreneurs, while Arnold will enhance HR practices. Both appointments align with the company's commitment to equity and diversity. CEO Troy Datcher emphasized these hires as crucial for advancing the company's mission in the cannabis industry.
TPCO Holding Corp. (OTCQX: GRAMF) announced an expansion of its Fun Uncle Cruisers vape line, introducing four new flavors: Blue Dream, Pineapple Express, Sunset Sherbet, and Grandaddy Purple, available at $25 each. In celebration of Green Wednesday on November 24, 2021, the company is holding a sweepstakes for a $4,000 van life weekend getaway and $100 REI gift cards. Cruisers have seen rapid success, rising to the #1 vape brand in TPCO's direct-to-consumer channels within six months of launch. A $20 promotional price will apply to all Cruisers purchases during the holiday weekend.
TPCO Holding Corp. (OTCQX: GRAMF) reported Q3 2021 net sales of $39.7 million, down 26.7% from Q2 2021. Despite challenges, direct-to-consumer revenue grew 7.6% to $12.8 million. Gross profit was $6.1 million, representing a 15% gross margin. However, the company faced a non-cash impairment of $570.3 million. Cash and equivalents stood at $206.7 million. TPCO is expanding its retail presence in California and has signed acquisition agreements to enhance reach. CEO Troy Datcher emphasized a shift toward higher-margin cannabis offerings.
TPCO Holding Corp (OTCQX: GRAMF) will report its third-quarter financial results for the period ending September 30, 2021, on November 15, 2021, after market close. A conference call is scheduled for 5:00 p.m. Eastern Time to discuss the results. The Parent Company, established in January 2021, is a leading cannabis company in California, boasting a comprehensive distribution network and a portfolio of eight prominent cannabis brands, including Monogram by Shawn “JAY-Z” Carter. Investors should stay tuned for key metrics that may impact stock performance.
On October 25, 2021, TPCO Holding Corp. (GRAMF) announced the launch of DELI Dimes, a new gummy cannabis product available in three flavors: Black Cherry, Fresh Watermelon, and Red Berry. Each pouch contains ten gummies offering 10mg of THC, priced at $14, making it an affordable option for consumers. This expansion builds on the success of the previous DELI Nickels product, which became a top seller. The cannabis gummy market is rapidly growing, with a 26% annual growth rate in California, totaling $332M in revenue for 2021.
The Parent Company (NEO: GRAM.U, OTCQX: GRAMF) announced the effectiveness of its amended registration statement on Form 10 with the SEC on October 8, 2021. This registration allows the company to list its common shares and warrants, enhancing trading accessibility on major exchanges. CEO Troy Datcher emphasized the intention to capitalize on potential cannabis reforms. The move aims to improve shareholder liquidity and facilitate trading under Rule 144. The Parent Company operates a significant network in California's cannabis market, with plans to expand nationally.
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