The Parent Company Extends Partnership with Mirayo by Santana
Mirayo Gummies to launch in May 2023
SAN JOSE, Calif., March 9, 2023 /PRNewswire/ - TPCO Holding Corp. ("The Parent Company" or "the Company") (NEO: GRAM) (OTCQX: GRAMF), a leading consumer-focused California cannabis company, today announced the extension of the company's licensee agreement with Mirayo by Santana, a line of premium cannabis products curated by ten-time GRAMMY Award-winning guitarist and longtime cannabis advocate Carlos Santana. Inspired by his Latin heritage and dedication to spiritual well-being, Mirayo provides consumers with high-quality cannabis products that leverage the power of ancient remedies and act as a guide for consumers on their path to discovering their divine light.
Santana is one of our time's most recognized and celebrated musicians, known for his timeless signature sound. His life as a musical icon and spiritual flame-keeper is built on determination, discovery, and self-actualization. The name, "Mirayo," is a combination of "my" and "ray" in Spanish, which honors Santana's heritage and hopes to empower everyone to "follow your light."
A top-selling celebrity brand in California, Mirayo currently offers cannabis products in key categories, including whole flower and pre-rolls. Mirayo's 0.5-gram pre-rolls and 7-gram jars of flower are available in strains or categories of consciousness like Radiance, Symmetry, Centered and Essence.
This May, Mirayo introduces its new line of solventless 10mg hash rosin gummies made with all-natural ingredients. The gummies are in the shape of the Sacred Heart, an iconic figure found on Santana's hats and merchandise, and will be available in flavors like Guava, Prickly Pear and Raspberry at the Company's retail locations across California.
"Cannabis, to me, is a door to enhanced meditative reflection and creative expression," said Carlos Santana. "With Mirayo, we hope to help more people tap into their creative zone and find kindness and compassion as well as spirituality, individuality and higher consciousness. I'm excited to introduce our upcoming line of Mirayo gummies this spring and I look forward to our continued partnership with The Parent Company. Together, we can think deep, high thoughts and sculpt a new life and world."
"We're thrilled to extend our relationship with Carlos Santana and the team at Mirayo," said Troy Datcher, CEO & Chairman of the Board at The Parent Company. "Mirayo's authenticity within the cannabis space and genuine commitment to wellness align perfectly with The Parent Company's mission. Mr. Santana brings a massive global audience while being a real believer in the power of the plant. The commitment Carlos puts into channeling good and positive vibrations through his music is seen in the quality of Mirayo's products. We're working closely with Mirayo's team to launch more premium products this year and expand the brand's reach to new markets. "
The Parent Company and Mirayo also intend to invest in advancements in product R&D, brand awareness and marketing campaigns that will include a new website featuring e-commerce capabilities. Through its partnerships with top-tier creators and brands, The Parent Company aims to elevate authenticity while fostering social equity and inclusion and serving the most essential needs of customers.
Mirayo is available at all of The Parent Company's retail locations, including Caliva and Deli by Caliva stores, and receives priority placement in several Latinx-owned dispensaries. For additional information, please visit mirayobysantana.com. Product imagery is 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 fund 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" and on the OTCQX under the ticker symbol "GRAMF."
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References to information included on websites 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.
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 Company's partnership with Mirayo by Santana and anticipated future product launches. 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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