TPCO Holding Corp. (“The Parent Company” or the “Company”) (NEO: GRAM.U) (OTCQX: GRAMF), today announced that it has filed a registration statement on Form 10 (the “Registration Statement”) with the United States Securities and Exchange Commission (“SEC”) to register the Company’s common shares (the “Common Shares”) and share purchase warrants (the “Warrants” and, together with the Common Shares, the “Securities”) under Section 12(g) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”) in advance of potentially being permitted to list the Common Shares and the Warrants on the New York Stock Exchange or the Nasdaq Stock Market.
“This is an important first step on our path to up-listing to a major U.S. exchange with Federal legalization on the horizon,” said Michael Auerbach, Chairman of The Parent Company. “The legal cannabis industry is a significant source of meaningful employment and tax opportunities, which together with the investments we are spearheading through our social equity ventures platform, has the potential to empower a new generation of cannabis entrepreneurs and address the harm that cannabis prohibition has caused.”
Mr. Auerbach added, “With support of legalization of cannabis at the federal level rising across the country, we are exceptionally well positioned with strong, highly-visible consumer brands and an innovative product offering to leverage the success we have achieved in California and lead the national cannabis opportunity.”
The Company is filing the Registration Statement to, among other things, provide liquidity to its shareholders by (a) making the Company eligible to register Common Shares issuable pursuant to the TPCO Holding Corp. Equity Incentive Plan the Securities Act of 1933, as amended (the “Securities Act”), on Form S-8 and (b) facilitating trading of the Common Shares and Warrants under Rule 144 promulgated under the Securities Act one year after the filing of the Registration Statement. The Registration Statement relating to the Securities has been filed with the SEC but has not yet become effective. The Registration Statement has also been filed on Canada’s System for Electronic Document Analysis and Retrieval (“SEDAR”). The Form 10 is available on the SEC’s website at www.sec.gov, on the Company’s SEDAR profile at www.sedar.com and on the Company’s website.
