The parent company must start trading in Canadian dollars on NEO

Currency exchange on the NEO exchange will enable Canadian investors to access securities in local currency; OTCQX will continue to trade in USD for US investors

San Jose, California.And the September 30, 2022 / CNW / – TPCO Holding Corp. (“Parent Company” or “Company”) (NEO: GRAM.U) (OTCQX: GRAMF), a leading consumer-focused company California The cannabis company, announced today that the company intends to begin trading on the NEO exchange in Canadian dollars starting from October 7, 2022, under the modified symbol “GRAM”. The company’s NEO-listed warrants traded under the symbol “GRAM.WT.U” will continue to trade as is.

The company’s OTCQX securities will continue to trade in US dollars under the symbol “GRAMF” for the convenience of United State resident investors. This development will allow investors on both sides United State And the Canadian border to efficiently trade the company’s securities in their local currency.

About the parent company

The parent company is a leading consumer-focused, vertically integrated cannabis manufacturer with eleven retail locations, four delivery centers and a curated product portfolio including Monogram by Shawn “JAY-Z” Carter, Caliva, Mirayo by Santana, Fun Uncle and Deli.

The parent company is committed to leveraging its position to help build a more equitable cannabis industry. Its Social Equity Investment Fund aims to eliminate systemic barriers to entry and provide minority entrepreneurs with meaningful participation, growth, and leadership opportunities in the multibillion dollar legal cannabis industry.

The Parent Company’s common stock is traded on the NEO Stock Exchange under the ticker symbol “GRAM.U” and on 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.

References to information on the Websites do not constitute a consolidation with reference to information on or available through such Websites, and such information should not be considered part of this press release.

forward-looking statements

This press release contains forward-looking information within the meaning of applicable securities legislation that reflects the parent company’s current expectations regarding future events. The words “will,” “expect,” “intend,” “believe,” and similar expressions are often intended to identify forward-looking information, although not all forward-looking information contains such identifying words.

Specific forward-looking information contained in this press release includes, but is not limited to, statements regarding the Company’s intention to convert to Canadian dollars on the NEO Stock Exchange. 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 disclosed or implied. Through this forward-looking information. These risks and uncertainties include, but are not limited to: changes in general economic conditions including the effect of increased inflation, and continued significant price pressure in flower oil and distillates in California market, competition in both our wholesale and omnichannel channels, business and political conditions, changes in applicable laws, regulatory landscapes in the United States and Canada, cannabis-related enforcement, changes in public opinion and perception of the cannabis industry, reliance on the experience and judgment of senior management , in addition to the factors discussed under “Risk Factors” in the Parent Company’s annual report on Form 10-K for the year ended December 31, 2021 Filed with SEC on March 31, 2022 and in the Company’s periodic reports subsequently submitted to the Securities and Exchange Commission and in the Company’s filings on SEDAR at www.sedar.com. The Parent Company assumes no obligation to update this 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 United State

Investors should note that there are significant legal restrictions and regulations governing the cannabis industry in United State. Cannabis remains a Schedule I drug under the US Controlled Substances Act, making it illegal under federal law in the US United State To, among other things, the cultivation, distribution or possession of cannabis in United State. Financial transactions involving proceeds arising from, or intended to promote, cannabis-related business activities in United State They may form the basis for prosecution under applicable US federal money laundering legislation.

While the approach to enforcement of such laws by the federal government has been in United State Leaning toward non-enforcement against individuals and companies that comply with medical cannabis programs or adult use in states where such programs are legal, strict compliance with state laws regarding cannabis will not relieve the parent company of liability under United States federal law, and it will not file a defense of any actions A federation can be brought against the company. Enforcement of federal laws in United State It represents a significant risk to the business of the parent company and any lawsuits filed against the company under it may adversely affect the company’s operations and financial performance.

SOURCE TPCO Holding Corp.

For more information: Investor contact: Rob Kelly, MATTIO Communications, [email protected]

Source link

from San Jose News Bulletin https://sjnewsbulletin.com/the-parent-company-must-start-trading-in-canadian-dollars-on-neo/