Extends its vape roster of reliable and affordable product formats in time for Oil Day on July 10th
SAN JOSE, Calif., July 12, 2021 /PRNewswire/ - TPCO Holding Corp. ("The Parent Company") (NEO: GRAM.U) (OTCQX: GRAMF), California's leading vertically-integrated cannabis company, today announced that it has extended its value product offerings with the introduction of Fun Uncle Cruisers with Live Resin full gram vape cartridges available in four strains at a uniquely affordable price point of $36.
The product line expansion features live resin -- a premium ingredient valued for its retention of cannabinoid, terpene, and flavor profiles that delivers a full spectrum of effects -- and launched as consumers celebrated "Oil Day" on 7/10. Since the introduction of the initial line of Cruisers vapes in late March 2021, the Fun Uncle line is ranked #9 in unit volume, with the brand's flavors of Berry Gelato ranking #2 and Strawberry Cough ranking #10.1 The launch of Cruisers with Live Resin extends this approachable and affordable product line to consumers seeking the robust flavor and enhanced experience that live resin products deliver. Cruisers with Live Resin are currently available to California consumers through Caliva.com, The Parent Company's omnichannel direct-to-consumer platform, and will be available through The Parent Company's in-house distribution company later this summer, which actively reaches over 450 dispensary accounts. Distillate for Fun Uncle Cruisers is produced by leveraging The Parent Company's in-house extraction operations, which sources high quality cannabis flower from a network of over 500 California growers and currently produces 20% of the distillate sold in the state. This quality at scale ensures a competitively priced, superior quality product on a convenient, reliable and trusted platform.
"As part of The Parent Company's effort to provide approachable and affordable entry points to cannabis for consumers, we are thrilled to announce our Cruisers with Live Resin vapes, which are competitively priced and offer consumers high quality distillate and live resin in an accessible format," said The Parent Company CEO Steve Allan. "As we grow our presence in the value vape category, The Parent Company is making strides towards its goal of becoming the clear industry leader. Consumers crave trusted, innovative and cost-efficient cannabis products, and we look forward to continue delivering on our promise to meet this need."
Fun Uncle is a retro-stylized line of premium value cannabis, paying homage to marijuana's early heyday, with low prices reminiscent of the past to match. The introduction of Fun Uncle Cruisers with Live Resin follows on the heels of the recent launch of Cruisers vapes, the brand's first vape offering. Cruisers with Live Resin feature one full gram sold at retail for $36, packaged in reliable CCELL Universal Cartridges, and available in four strains: Sour Tangie, Tropic Thunder, Golden Pineapple and Paris OG. Cruisers with Live Resin leverage The Parent Company's extraction process to deliver high-quality, potent distillate that is blended with high-terpene extract from flash-frozen flower. Incorporating this fresh and delicious live resin into the formula ensures that consumers enjoy a full-spectrum of cannabinoids, terpenes and flavor, while the distillate keeps both the price tag friendly and the potencies high, with each strain testing over 75% THC.
Fun Uncle Cruisers with Live Resin are available at Caliva retail stores as well as through delivery at Caliva.com. Additionally, Cruisers with Live Resin will be made available late this summer at hundreds of cannabis retailers throughout California. For more information, visit Caliva.com.
1 SOURCE: BDSA, Geography: CA, Time Period: April - May 2021, Top Products, Total Units, Category: Inhalables-Concentrates-Vapes
ABOUT CALIVA Caliva is a leading single-state cannabis operator in California. Founded in 2015, Caliva's industry advantage comes from its vertical integration and direct-to-consumer platform. This direct-to-consumer experience enables customers to purchase cannabis at Caliva's retail stores and place orders online for in-store pickup or same-day delivery straight to their door at Caliva.com. Caliva's plant-based solutions are designed to fit any lifestyle. Caliva's commitment to compliance and quality reinforce its position as THE MOST TRUSTED NAME IN CANNABIS™. For more information visit Caliva.com or follow along on Instagram, @GoCaliva.
ABOUT THE PARENT COMPANY The Parent Company (TPCO Holding Corp.) (NEO: GRAM.U, GRAM.WT.U) (OTCQX: GRAMF; OTC PINK: GRMWF) is California's leading vertically integrated cannabis company combining best-in-class operations with leading voices in popular culture and social impact. The Parent Company brings together global icon and entrepreneur Shawn "JAY-Z" Carter, entertainment powerhouse ROC NATION, California's leading direct-to-consumer platform CALIVA, and leading cannabis and hemp manufacturer, LEFT COAST VENTURES, to form a cannabis industry leader for the post-prohibition era. Chief Visionary Officer Shawn "JAY-Z" Carter, one of the most recognized and celebrated entrepreneurs of our time, will guide The Parent Company's brand strategy in partnership with Roc Nation, the world's preeminent entertainment company with a roster of culture-making artists, athletes and influencers. The brands we build together will pave a new path forward for a legacy rooted in equity, access, and justice.
FORWARD LOOKING STATEMENTS This press release may contain 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" 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 Fun Uncle Cruisers with Live Resin and any associated financial impact of those products. 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, 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 Information Form dated March 25, 2021, which is available 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.