Appointments Further Efforts to Build an Equitable and Inclusive Cannabis Industry and Company Culture
SAN JOSE, Calif. – TPCO Holding Corp. (“The Parent Company” or the “Company”), a leading vertically-integrated California cannabis company, announced today its appointments of Tiffany McBride as Managing Director of Social Equity Ventures and Kerry Arnold as Chief People Officer. The two positions further The Parent Company’s mission to elevate diversity, equity and inclusion efforts within the cannabis sector.
McBride joins from Docstur, LLC, where she previously served as Chief Operations Officer. She brings over 15 years of experience in results-driven strategy development to The Parent Company, where she will oversee the Social Equity Ventures program and operations that focus on discovering the industry’s future cannabis entrepreneurs of color. McBride will ensure the program offers the capital and mentorship necessary to build generational wealth and become part of a more equitable and diverse cannabis industry.
“This is an exciting time to join The Parent Company as the Managing Director of Social Equity Ventures to continue to ensure that minority communities have a seat at the table in the cannabis industry,” said Tiffany McBride, Managing Director of Social Equity Ventures. “The Social Equity Ventures Fund and the recent opening of LA’s first Black Woman-Owned Dispensary, Josephine & Billie’s, are just some of the ways we are already making progress toward a more equitable future in cannabis. While we have made strides, there is significant work to be done, and I’m looking forward to breaking down barriers and creating opportunities for diverse individuals and communities to thrive in this industry.”
Arnold will head the Human Resources department expanding employee resources, ensuring equitable company culture, and upholding The Parent Company’s values. He will oversee all aspects of human resources, including fair inclusion in the workplace, employee and workplace operations, learning and development, and talent acquisition. Previously, Arnold held the position of Chief People Officer at CANNDESCENT, a luxury cannabis brand.
“I’m thrilled to join The Parent Company as its new Chief People Officer at this exciting time for the organization and industry as a whole,” said Kerry Arnold, Chief People Officer. “Having seen the Company operate and further its commitment to its values and promise of innovation, I am excited to join a truly forward-thinking executive team led by Troy. I hope to grow not only our business but a culture that matches our organization’s values as we move to become the world’s most impactful cannabis company.”
Both Arnold and McBride join The Parent Company’s recent and historic appointment, Troy Datcher – the first Black CEO to lead a major public U.S. cannabis organization.
“As our influence as an organization grows, the appointment of Tiffany and Kerry is imperative to our mission,” said Troy Datcher, CEO. “Tiffany’s work as Managing Director will only complement and accelerate our efforts in the equity space, while Kerry’s expertise and ability to grow an inclusive culture will be paramount. I am truly looking forward to working with them both.”
About The Parent Company
Formed in January 2021, The Parent Company is a leading vertically integrated California cannabis company. The company’s three manufacturing facilities provide unparalleled access to high-quality cannabis, while its vast wholesale distribution network of more than 450 California dispensaries, a direct-to-consumer omnichannel platform, six consumer delivery hubs and eleven omni-channel retail locations, currently service approximately 80% of the largest legal cannabis market in the country. The Company’s curated product portfolio includes eight valuable and scalable brands, including Monogram by Shawn “JAY-Z” Carter, Caliva, Deli, Fun Uncle, and Mirayo, which set the tone for The Parent Company’s industry leadership in California and beyond.
Forward Looking Statements
This press release may contain 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 the priorities and intentions of The Parent Company’s recent leadership hires of Tiffany McBride and Kerry Arnold. 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, 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 amended registration statement on Form 10 originally filed with the SEC on August 9, 2021 and as subsequently amended as well as any updates to those risk factors included in Part II, Item 1A of the Company’s subsequent quarterly reports on Form 10-Q, including its Form 10-Q for the quarterly period ended September 30, 2021, which registration statement and reports are as well as any updates to those risk factors included in Part II, Item 1A of the Company’s subsequent quarterly reports on Form 10-Q, including its Form 10-Q for the quarterly period ended September 30, 2021 available on the SEC’s website at www.sec.gov and 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.
Caution Regarding Cannabis Operations in the United States
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.
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