SAN JOSE, Calif.–(BUSINESS WIRE<\/a>)– \nThe Company\u2019s audited consolidated financial statements for the three months and year ended December 31, 2020, as well as its accompanying management discussion and analysis (\u201cMD&A\u201d) and the BAR have been filed on SEDAR www.sedar.com<\/a>.\n<\/p>\n \nThe Company cautions investors that the consolidated pro forma financial statements (i.e. which consolidates TPCO Holding, Caliva, LCV and SISU) as of December 31, 2020 included in the BAR and provided as exhibits to this press release are unaudited. The entity level financial statements for Caliva, LCV and SISU as of December 31, 2020 which are included in the BAR are audited. Please refer to TPCO\u2019s MD&A for additional detail and discussion on the Company\u2019s results from operations.\n<\/p>\n \nThe Company will separately file its Annual Information Form (\u201cAIF\u201d) before the end of March 2021.\n<\/p>\n Fourth Quarter 2020 Financial Highlights<\/b><\/p>\n Full Year 2020 Financial Highlights<\/b><\/p>\n \nSteve Allan, The Parent Company’s CEO, said, \u201cWe are excited to have closed 2020 with momentum forming the largest vertically integrated cannabis company in California by revenue, vertically integrated footprint, brand portfolio and balance sheet post our transaction close in January. This year is pivotal for The Parent Company as we work through the complex integration process to lay the foundation for future growth and acquisitions. Our team has been diligently working to integrate the newly combined businesses over the last two months and we expect synergies will be realized in our financial results in the back half of 2021. We are optimizing our brand portfolio, planning to launch the first of our value-tier products near the end of this quarter, and expanding our omnichannel footprint in the coming weeks to reach more consumers.\u201d\n<\/p>\n \n\u201cCalifornia is the largest and most influential cannabis market globally, and we believe The Parent Company is best positioned to consolidate and become one of the leaders in this cannabis market,\u201d continued Allan. \u201cOur vertically integrated supply chain, brand portfolio, unrivaled consumer access, and one of the healthiest balance sheets in cannabis will allow us to reshape the industry starting with California. We have a long runway for growth, especially as we execute on our consolidation strategy, and believe we can create meaningful long term shareholder value.\u201d\n<\/p>\n The Parent Company Investment Highlights<\/b><\/p>\n About The Parent Company <\/b><\/p>\n \nThe Parent Company (TPCO Holding Corp.) (NEO: GRAM.U, GRAM.WT.U) (OTCQX: GRAMF; OTC PINK: GRMWF) is California\u2019s leading vertically integrated cannabis company combining best-in-class operations with leading voices in popular culture and social impact. The Parent Company brings together global icon and entrepreneur Shawn \u201cJAY-Z\u201d Carter, entertainment powerhouse ROC NATION, California\u2019s leading direct-to-consumer platform CALIVA, and leading cannabis and hemp manufacturer, LEFT COAST VENTURES, to form a cannabis industry leader for the post-prohibition era. Chief Visionary Officer Shawn \u201cJAY-Z\u201d Carter, one of the most recognized and celebrated entrepreneurs of our time, will guide The Parent Company\u2019s brand strategy in partnership with Roc Nation, the world\u2019s preeminent entertainment company with a roster of culture-making artists, athletes and influencers. The brands we build together will pave a new path forward for a legacy rooted in equity, access, and justice.\n<\/p>\n \nFor more information, please visit www.theparent.co<\/a>.\n<\/p>\n Forward Looking Statements <\/b><\/p>\n \nThis press release may contain forward-looking information within the meaning of applicable securities legislation which reflects The Parent Company\u2019s current expectations regarding future events. The words \u201cwill\u201d, \u201cexpects\u201d, \u201cintends\u201d and similar expressions are often intended to identify forward looking information, although not all forward-looking information contains these identifying words.\n<\/p>\n \nSpecific forward-looking information contained in this press release includes, but is not limited to, statements concerning The Parent Company\u2019s future financial performance, ability of The Parent Company to execute on its growth and consolidation strategy, anticipated synergy benefits in 2021, and anticipated regulatory filings. 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\u2019s 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 \u201cRisk Factors\u201d in The Parent Company\u2019s final prospectus dated December 16, 2020, which is available on SEDAR at www.sedar.com<\/a>. 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.\n<\/p>\n Non-IFRS Financial Performance Measures (Unaudited) <\/b><\/p>\n \nAdjusted net income (loss), EBITDA and adjusted EBITDA are not recognized measures under IFRS and this data may not be comparable to data presented by other companies.\n<\/p>\n \nAdjusted net income (loss) is calculated by adjusting net income (loss) as recorded in the unaudited condensed consolidated interim statements of income (loss) and comprehensive income (loss) for the exclusion of certain other income and expense items determined in accordance with IFRS. The Company believes that this generally accepted measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. Adjusted net income (loss) is intended to provide investors with information about the Company\u2019s continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.\n<\/p>\n \nEBITDA is calculated by adjusting net income (loss) as recorded in the unaudited condensed consolidated statements of income (loss) and comprehensive income (loss) for finance costs, current and deferred income tax, depreciation and amortization expenses. The Company believes that this measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. EBITDA is intended to provide investors with information about the Company\u2019s continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.\n<\/p>\n \nAdjusted EBITDA is calculated by adjusting net income (loss) as recorded in the unaudited consolidated financial statements of income (loss) and comprehensive income (loss) for the exclusion of certain other income and expense items determined in accordance with IFRS, being the calculation for adjusted net income (loss) and then further adjusting for finance costs, current and deferred income tax, change in fair values, other non-recurring amounts, depreciation and amortization expenses. The Company believes that this generally accepted measure allows the evaluation of the results of continuing operations and is useful in making comparisons between periods. Adjusted EBITDA is intended to provide investors with information about the Company\u2019s continuing income generating capabilities. Management uses this measure to monitor and plan for the operating performance of the Company in conjunction with other data prepared in accordance with IFRS.\n<\/p>\n TPCO HOLDING CORP.<\/b><\/p>\n<\/td>\n<\/tr>\n UNAUDITED PRO FORMA CONSOLIDATED STATEMENT OF LOSS FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2020 AND 2019<\/b><\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n 188,662,575<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 40,221,288<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 107,201,085<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n 28,683,409<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n 156,452,631<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 37,224,355<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 95,118,184<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 28,349,432<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n 542,661<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 195,805<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (753,531<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (57,222<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n 32,752,605<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 3,192,738<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 11,329,370<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 276,755<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n89,241,466\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 32,719,475<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n79,207,809\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 16,388,848<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n48,332,098\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 45,964,974<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n23,640,633\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,088,179<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n 137,573,564<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 78,684,449<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 102,848,442<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 17,477,028<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n (104,820,959<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (75,491,711<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (91,519,072<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (17,200,273<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n2,350,312\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 105,896<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,271,713\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 2,634,959<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(11,000,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 887,620<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(988,102\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (520,008<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n(4,157,512\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (754,816<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(3,913,928\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (2,058,311<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n(13,656,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (3,864,000<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(13,056,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (3,264,000<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n(7,282,633\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n 3,195,627<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(11,236,093\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (5,032,900<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(20,125,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (20,125,000<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (6,857,000<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(1,909,663\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (1,909,663<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 4,125,926<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(1,734,498\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (1,504,498<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 8,374,074<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(37,185,833\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (2,807,906<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n (1,505,967<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n1,115,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 1,115,000<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n160,876\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n 152,504<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(615,512\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(144,252\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (144,252<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n91,545\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n –<\/b><\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(1,449,497\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (690,941<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n \n(724,332\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n (139,074<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n (46,417,919<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (18,460,575<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (73,771,490<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (12,126,154<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n (151,238,878<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (93,952,286<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (165,290,562<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (29,326,427<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n(1,607,468\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n1,350,468\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(202\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(9,344\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n (149,631,410<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (95,302,754<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (165,290,360<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (29,317,083<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n TPCO HOLDING CORP.<\/b><\/p>\n<\/td>\n<\/tr>\n NON-IFRS FINANCIAL PERFORMANCE MEASURES RECONCILIATION <\/b><\/p>\n<\/td>\n<\/tr>\n UNAUDITED, CONSOLIDATED PRO FORMA FOR THE THREE MONTHS AND YEAR ENDED DECEMBER 31, 2020 AND 2019<\/b><\/p>\n<\/td>\n<\/tr>\n \n$\n<\/p>\n<\/td>\n \n(149,631,410\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(95,302,754\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(165,290,360\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n$\n<\/p>\n<\/td>\n \n(29,317,083\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n(1,607,468\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n1,350,468\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(202\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(9,344\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n17,813,512\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n3,731,196\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17,958,030\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,842,319\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n7,282,633\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(3,195,627\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n11,236,093\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n5,032,900\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n (126,142,733<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (93,416,717<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (136,096,439<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n (18,451,208<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n \n2,486,665\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n456,316\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n4,024,834\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n798,075\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(542,661\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(195,805\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n753,531\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n57,222\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(4,724,725\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(9,324,153\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n4,724,725\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,878,581\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n18,500,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n18,500,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n45,240,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n45,240,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n6,857,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(4,125,926\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(8,374,074\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n1,734,498\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,504,498\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(2,299,898\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(2,299,898\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n658,913\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n658,913\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,505,967\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(1,115,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(1,115,000\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,149,274\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n47,090\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n26,860\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n262,735\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n262,735\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n17,060,833\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n(17,317,094\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n<\/tr>\n \n20,125,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n20,125,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n20,125,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n20,125,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n615,512\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n91,545\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n144,252\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n144,252\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(91,545\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(91,545\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n10,277,857\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n8,098,981\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n11,000,000\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n–\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n \n(438,769\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n(2,893,895\n<\/p>\n<\/td>\n \n)\n<\/p>\n<\/td>\n \n6,658,720\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n \n1,664,680\n<\/p>\n<\/td>\n \n\u00a0\n<\/p>\n<\/td>\n<\/tr>\n $<\/b><\/p>\n<\/td>\n (34,554,796<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (17,656,933<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (61,307,535<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n $<\/b><\/p>\n<\/td>\n (11,952,757<\/b><\/p>\n<\/td>\n )<\/b><\/p>\n<\/td>\n<\/tr>\n<\/table>\n \n\u00a0\n<\/p>\n View source version on businesswire.com: <\/span>https:\/\/www.businesswire.com\/news\/home\/20210315005199\/en\/<\/a><\/span><\/p>\n The Parent Company
\nTPCO Holding Corp. (\u201cThe Parent Company<\/b>\u201d or the \u201cCompany\u201d) (NEO: GRAM.U, GRAM.WT.U) (OTCQX: GRAMF; OTC PINK: GRMWF), formerly Subversive Capital Acquisition Corp., today announced financial results for the fourth quarter and year ended December 31, 2020 along with the filing of its Business Acquisition Report (\u201cBAR\u201d) in connection with its Qualifying Transactions in respect of each of CMG Partners, Inc. (\u201cCaliva\u201d), and Left Coast Ventures., (\u201cLCV\u201d) and SISU Extraction LLC (\u201cSISU\u201d) completed on January 15, 2021. All amounts are expressed in U.S. dollars.\n<\/p>\n\n
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\n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Proforma Consolidated<\/b><\/td>\n \n Proforma Consolidated<\/b><\/td>\n \n Proforma Consolidated<\/b><\/td>\n \n Proforma Consolidated<\/b><\/td>\n<\/tr>\n \n \n \n Year Ended<\/b><\/td>\n \n Three Months Ended<\/b><\/td>\n \n Year Ended<\/b><\/td>\n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n December 31, 2020<\/b><\/td>\n \n December 31, 2020<\/b><\/td>\n \n December 31, 2019<\/b><\/td>\n \n December 31, 2019<\/b><\/td>\n<\/tr>\n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Revenues<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Cost of Sales<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Fair value changes to biological assets and changes in inventory sold<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Gross Profit<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Operating Expenses<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n General and administration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Sales and marketing<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other income (expense)<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Loss before other income (expense)<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Other income (expense)<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Interest income<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Transaction costs<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation of right-of-use assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation of property and equipment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Amortization of intangible asset<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Interest expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Amortization of issue costs on Class A warrants<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Underwriting commissions<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain (loss) on change in fair value of derivative liability<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change in fair value of warrant liability<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change in contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on note payable<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change on extinguishment of Class A<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain on debt modification<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain from non-controlling subsidiary<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Share of loss in joint venture<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain on investment in Tarukino<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n Net loss before income tax <\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income tax expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net loss and comprehensive loss for the year<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n
\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \u00a0<\/td>\n<\/tr>\n \n \n \n Proforma Consolidated<\/b><\/td>\n \n Proforma Consolidated<\/b><\/td>\n \n Proforma Consolidated<\/b><\/td>\n \n Proforma Consolidated<\/b><\/td>\n<\/tr>\n \n \n \n Year Ended<\/b><\/td>\n \n Three Months Ended<\/b><\/td>\n \n Year Ended<\/b><\/td>\n \n Three Months Ended<\/b><\/td>\n<\/tr>\n \n \n \n December 31, 2020<\/b><\/td>\n \n December 31, 2020<\/b><\/td>\n \n December 31, 2019<\/b><\/td>\n \n December 31, 2019<\/b><\/td>\n<\/tr>\n \n Net loss and comprehensive loss <\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Income tax<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Depreciation and amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Interest expense and debt amortization<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n EBITDA<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjustments:<\/b><\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Stock compensation expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Net effect of fair changes in fair value of biological assets and inventory<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Other non-recurring items:<\/td>\n \n \n \n \n \n \n \n <\/tr>\n \n Non-cash compensation associated with put liability<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Brand strategy expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Sales and marketing expense<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain on change in fair value of derivative liability<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change in fair value of warrant liability<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change in fair value of note payable at FVTPL<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change in fair value of contingent consideration<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on change in fair value of line of credit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain on settlement of line of credit<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Provision for bad debts<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain on debt modification<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Impairment loss<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on disposal of property, plant and equipment and intangible assets<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss on extinguishment of Class A Restricted Voting Shares<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Underwriting commission fees<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Loss in JV from Equity Method and gain on investment<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Gain on investment in Tarukino<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Transaction cost<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Additional adjustments<\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n Adjusted EBITDA<\/b><\/td>\n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n \n <\/p>\n
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Media \/\/ Annie Maines
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press@theparent.co<\/a><\/p>\n
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