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Jay-Z Joins Newly-Formed Cannabis Giant TPCO as Chief Visionary Officer

Just a month after Jay-Z launched MONOGRAM with cannabis brand Caliva — where he’s served as chief brand strategist since July 2019 — he’s already made yet another move heading for mogul status within the industry. According to Billboard, Subervisve Capital Acquisition Corp — which has a growing footprint in the cannabis industry — has now acquired two California-based cannabis brands. The end result has landed Jay-Z as the company’s chief visionary officer. In an announcement on Tuesday (Nov. 24), the company revealed the transaction is set to close in January. Acquiring the direct-to-consumer cannabis platform Caliva along with hemp and cannabis producer — Left Coast Ventures — Subversive Capital is ready to take the industry by storm by having the brands combine under a new vertically-integrated cannabis company that will be named TPCO Holding Corp. The deal includes $36.5 million in equity commitments from both existing and new shareholders which include Tuatara Capital,...

Shanique Yates

Nov 27, 2020