{"id":409494,"date":"2021-01-06T08:34:49","date_gmt":"2021-01-06T13:34:49","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=409494"},"modified":"2021-01-06T08:34:49","modified_gmt":"2021-01-06T13:34:49","slug":"subversive-capital-acquisition-corp-the-largest-cannabis-spac-in-history-issues-open-letter-to-shareholders-highlighting-operational-strength-and-investment-proposition","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/subversive-capital-acquisition-corp-the-largest-cannabis-spac-in-history-issues-open-letter-to-shareholders-highlighting-operational-strength-and-investment-proposition\/","title":{"rendered":"Subversive Capital Acquisition Corp., The Largest Cannabis SPAC In History, Issues Open Letter To Shareholders Highlighting Operational Strength And Investment Proposition"},"content":{"rendered":"
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— Poised to Close ‘Qualifying Transaction’ and Reshape Cannabis Market in CA and Beyond —<\/h2>\n

— Investors to Benefit from Fully-integrated Platform and Organic and Acquisitive Growth Strategies with Strong and Experienced Management Team —<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n NEW YORK<\/span> and TORONTO<\/span>, Jan. 6, 2021<\/span> \/PRNewswire\/ —\u00a0Subversive Capital Acquisition Corp. (NEO: SVC.A.U, SVC.WT.U; OTCQX: SBVCF) (“SCAC”), a special purpose acquisition company, today issued an open letter from its Chairman, Michael Auerbach<\/span>, highlighting the key strategic attributes that will enable it to assume a clear leadership position in California’s<\/span> cannabis market while driving outperformance for shareholders. <\/p>\n

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\n \"Subversive
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The letter follows SCAC’s November 2020<\/span> entry into definitive transaction agreements with global icon, entrepreneur and MONOGRAM founder, Shawn “JAY-Z” Carter, entertainment powerhouse Roc Nation; CMG Partners Inc. (“Caliva”), California’s<\/span> most trusted cannabis brand and leading direct-to-consumer platform; and Left Coast Ventures, Inc. (“Left Coast Ventures”), a predominant cannabis and hemp company with low-cost manufacturing and a diversified portfolio of brands, to form TPCO Holding Corp. (“The Parent Company” or “TPCO”) (the “Transaction”). SCAC anticipates that the transactions constituting The Parent Company will close on or around January 15, 2021<\/span>, subject to customary closing conditions. A copy of the final prospectus (the “Prospectus”) associated with the Transaction is available on SEDAR at www.sedar.com<\/a> and on SCAC’s website at www.subversivecapital.com\/s\/Prospectus<\/a>.\u00a0 <\/p>\n

The full text of Mr. Auerbach’s letter is included below.<\/p>\n

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\n Open Letter to Existing and Prospective Shareholders<\/u>
\n <\/b>\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/p>\n

Dear Shareholders,<\/p>\n

As we enter 2021, all of us at Subversive Capital Acquisition Corp. are working diligently to close the industry-defining transaction we announced in November. As the largest cannabis SPAC in history, we have moved aggressively and decisively to consolidate the California<\/span> cannabis market through the creation of The Parent Company (“TPCO”) – a global cannabis leader bringing together JAY-Z, Roc Nation, Caliva and Left Coast Ventures to offer investors a unique and durable value proposition.\u00a0 <\/p>\n

In anticipation of closing, we have already begun \u2013 in earnest \u2013 leveraging TPCO’s advanced vertically integrated infrastructure, industry leading omnichannel platform, robust portfolio of brands, and unparalleled cultural influence. We believe that the following attributes will be the key drivers of shareholder value. \u00a0<\/p>\n