The Parent Company Expands Value Cannabis Offering with the Launch of New Cruisers Brand
TPCO launches Cruisers on March 22nd; Kicks-off with All Fun Fridays in-store activations in San Jose, Pasadena, West Hollywood and Santa Barbara starting March 24th
SAN JOSE, Calif., March 22, 2023 /PRNewswire/ - TPCO Holding Corp. ("The Parent Company" or "the Company") (NEO: GRAM.U) (OTCQX: GRAMF), a leading consumer-focused California cannabis company, today announced the exclusive launch of Cruisers, a new all-FUN, no-frills brand that puts consumers first and offers everyday value on premium cannabis products. Cruisers combines the Company's existing brands, Fun Uncle and DELI, streamlining these top-performing products into a single consumer-centric destination. By skipping the doldrums of the daily grind, Cruisers transports consumers to that carefree place where the bowl is always full. The weed wizards at Cruisers combine high-quality with tasty custom flavors for good times only. Cruisers launches statewide in California on Wednesday, March 22nd, with prime availability in all The Parent Company-owned retail locations.
Providing high-quality distraction from the ordinary, Cruisers offers budget pricing for various cannabis products in all key categories, including best-selling distillate and live resin vapes, whole flower, gummies, and preroll products, including the debut of Cruisers' new infused prerolls. Infused prerolls, one of the fastest growing categories according to Headset, will be available in the 1g single and the extremely popular 5-pk mini formats. Cruisers' new vape products utilize the same unique formulas and flavors that made Fun Uncle the #1 selling value ($20-$30) vape in California, according to BDSA data. Additional products offered at the brand's launch include the new Cruisers' 1g Infused single pre-rolls featuring high-THC distillate and a kief coating in flavors like Blueberry Cookies, Strawberry Gelato, and Maui Wowie.
"I am thrilled to announce the launch of Cruisers. Combining Fun Uncle and DELI, which are two of our most beloved and disruptive brands, Cruisers will continue to feature high-quality products at a competitive, value price point. In our retail locations, Cruisers will be the best priced offering in every category it plays in," said Troy Datcher, CEO & Chairman of the Board at The Parent Company. "The new brand name was inspired by Fun Uncle "Cruisers" Vapes, which quickly became the #1 selling vape in the value segment. As we continue to prioritize building our portfolio of top-tier brands, we are committed to serving our customers' most essential needs through innovative and consistent brands."
To celebrate the launch of Cruisers, the Company will host "All Fun Fridays" in-store activations at Caliva San Jose, Varda Pasadena, Calma WeHo, and Coastal Santa Barbara starting on Friday, March 24th. All Fun Fridays run every Friday from March 24th through April 14th and will feature branded swag giveaways and in-store promotions.
Additional information on products and All Fun Fridays activations can be found at www.cruisersofficial.com or on Instagram @cruisers.official. References to information included on websites or social media do not constitute incorporation by reference of the information contained at or available through such websites, and you should not consider such information to be part of this press release.
Product imagery available here.
The Parent Company is a leading consumer-focused, vertically integrated cannabis company with twelve retail locations, one delivery hub and a curated product portfolio including Monogram by Shawn "JAY-Z" Carter, Caliva, Mirayo by Santana and Cruisers.
The Parent Company is committed to leveraging its status to help build a more equitable cannabis industry. Its social equity venture program aims to eliminate systematic barriers to entry and provide minority entrepreneurs with meaningful participation, growth, and leadership opportunities in the multibillion-dollar legal cannabis industry.
Shares of The Parent Company common stock are traded on NEO Exchange under the ticker symbol "GRAM.U" and on the OTCQX under the ticker symbol "GRAMF."
For the latest news, activities, and media coverage, please visit www.theparent.co or connect with us on Instagram, LinkedIn, and Twitter.
We skip by the doldrums of the daily grind and invite you to hit the high road with us, yer buds at Cruisers. The destination? That carefree place where the bowl is always full and responsibility is nowhere to be found.
This press release contains 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", "believes" 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 the revamped value cannabis brand, "Cruisers". 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 conditions including the impact of increasing inflation, the continued significant price compression in flower and distillate oil in the California market, competition in both our wholesale and omni-channel retail channels, 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 Report on Form 10-K for the year ended December 31, 2021 filed with the SEC on March 31, 2022 and in the Company's periodic reports subsequently filed with the SEC and in the Company's filings 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.
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.
SOURCE TPCO Holding Corp.
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