Rapper Jay-Z Steps Into The Cannabis Game with Spac $GRAM

In an industry with a long line of celebrity ownership and endorsements, Jay-Z is the next a-lister who recently revealed that he is launching Monogram, his first marijuana line, and now he is entering another business venture related to weed. The brands will help Jay-Z, a top-selling rapper who has started his own music label, clothing line and sports bar chain, build the requisite cachet. His position was described by Subversive as a newly developed position focused on the strategic agenda of the organisation and leading growth initiatives. With Caliva, he had previously introduced his own cannabis line and served there as its chief brand strategist.

As its chief brand strategist, Jay-Z joined Caliva in 2019, where he created Monogram. Auerbach’s SPAC signed a deal in November 2020 to buy Caliva and Monogram, a joint partnership between Jay-Z and Caliva, and Left Coast Ventures, which owns cannabis music labels such as Marley Natural and Mirayo by Carlos Santana. The new name for Auerbach’s business is The Parent Co.” When it went public on Canada’s microcap stock exchange NEO last summer, it raised $575 million.

 

The rapper and entrepreneur has collaborated with the new cannabis company TPCO, which plans to reach 90% of customers in the state of California by 2022, according to news. Subversive Capital Acquisition Corp. which has been purchasing a number of smaller companies in the rising marijuana industry, has acquired it. It also purchased Caliva, a direct-to-consumer marijuana brand, and Left Coast Projects, which produces the drug. As TPCO Holding Corp, the labels will be merged, with Jay-Z acting as the Chief Visionary Officer.

 

 

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Subversive said its goal of merging the brands is to redefine the industry with a mission to both consolidate the California cannabis market and create an impactful global company.” The company expects to generate sales of up to $185 million this year and $334 million in 2021 from both brands.

source: Benzinga

As more U.S. states open up, the cannabis industry has seen a flurry of sales, even though marijuana remains illegal at the federal level. Investors are seeking to create enterprises that can emerge as the cannabis equivalent of a Budweiser or a Coca-Cola with attempts to decriminalise it nationwide.

 

There’s no fair doubt anymore that Jay-Z is a player in the cannabis business now. The high-end cannabis brand of Shawn “Jay-Z” Carter, Monogram, launches its first products in California on Thursday with a four-strain craft line, cannabis flower and joints grown indoor.

 

The flagship product of the company is the “OG Handroll,” a 1.5-gram joint rolled by “highly trained craftsmen,” says the company, which uses a Monogram process developed over a year. The joint is made of small-batch flowers and is intended to burn like a luxury cigar. And at $50, it retails for about twice as much.

 

Named No. 88, No. 96, No. 70 and No. 01 and grown by veteran grower DeAndre “De” Watson, Monogram’s cannabis strains come in three strengths: “light,” “medium” and “heavy.”

 

In a statement made by Jay-Z, he has said “Although we know 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.”  Jay-z monogram stock are available to purchase soon.

 

The first states to legalise cannabis were Colorado and Washington in 2012. Research reveals that half of users purchase their cannabis products from recreational dispensaries (54%), one-third buy cannabis from friends (32%) and one-fifth buy medical dispensary products (21%), while 50 percent of baby boomers use cannabis for medical purposes.

WSB’s Next Pump, SBVCF: Jay-Z Inks Largest Cannabis SPAC Deal Ever With Subversive Capital, Roc Nation, Caliva, Left Coast Ventures from r/wallstreetbets

The marijuana industry has been on the rise for both recreational and medicinal uses since its legalisation. Compared to other sectors, it has an above-average surge rate as more states and countries embrace the commodity in their markets. These growth figures for the cannabis industry will not only demonstrate how it has boomed over the years, but will also show how strong the industry’s potential is.

 

The growth of the marijuana business, including master extractors and budtenders, has opened the door for jobs that have not ever existed before. Currently, of course, there are also careers that might find new sources of revenue in this industry. Some of them include occupations like professional SEO professionals and Online marketing, all having to find their way in such a new and booming industry. Ergo, this sector has provided competitive employment for a good number of people, combined with competitive salaries.

 

The cannabis industry has seen rapid growth in recent years as more states legalise recreational and medicinal cannabis.  And these emerging markets reflect a new opportunity for cannabis dispensaries trying to capitalise on the growth of the industry.  The growing popularity of cannabis products has made the market size data for the cannabis industry more clear.  This is attributed to the growing number of businesses researching the potential of their industry.

 

So what is cannabis and CBD oil for? Most famously for its potential function in relieving symptoms of many common health problems, including anxiety, depression, acne and heart disease.  CBD oil has been extensively studied studied and has found that for those with cancer, pain and symptom relief can also offer a natural alternative. CBD oil is legal in Australia as of 2015, as long as it contains at least 98% cannabidiol and 2% or less of the other cannabinoids present in cannabis.  Can you buy CBD oil in Ausralia? Medical cannabis has been authorised for prescription use under the Narcotics Medicines Act 1967 for prescription use in Australia. In the treatment of a variety of illnesses, medicinal cannabis can be used, but each case is different and patients must get the treatment prescribed by a medical practitioner as a result. There is no predetermined list of conditions for which it is necessary to recommend cannabis medicinal items. In palliative care settings, some conditions where patients have been able to receive this medication include chronic pain, anxiety, neuropathic pain, fibromyalgia and irritable bowel syndrome.

 

 

  • Experienced Management Team – The Parent Company will be led by an experienced executive team with deep knowledge of the combined companies, the cannabis industry, and the consumer packaged goods, technology and financial industries. Following the closing of the Transaction, The Parent Company will be led by:

– Steve Allan as CEO
– Brett Cummings as CFO, President of Left Coast Ventures
– Dennis O’Malley as COO, President of Caliva
– Shawn “JAY-Z” Carter as Chief Visionary Officer

The Parent Company’s Board of Directors is expected to include:

– Carol Bartz, former CEO of Yahoo and Autodesk
– Desiree Perez, CEO of ROC NATION
– Al Foreman, Partner of Tuatara Capital
– Daniel Neukomm, CEO of La Jolla Group
– Jeffry Allen, Director of NetApp and Barracuda
– Leland Hensch, CEO of SCAC
– Michael Auerbach, Founder and Chairman of SCAC

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