The Parent Company to Buy West Hollywood Dispensary for $11.5 Million – New Cannabis Ventures
The Parent Company Expands California Retail Footprint
Acquires Calma, one of ten licensed storefront dispensaries with delivery in West Hollywood Area
SAN JOSE, Calif., June 28, 2021 /PRNewswire/ – TPCO Holding Corp. (“The Parent Company” or the “Company”) (NEO: GRAM.U) (OTCQX: GRAMF), today announced that it has signed a definitive agreement to acquire 100% of the equity of Calma West Hollywood (“Calma”), an operating dispensary located in West Hollywood, California, for a total consideration of $11.5 million (the “Agreement”). The Agreement remains subject to regulatory approvals, including approval by the City of West Hollywood.
Calma is located in the Los Angeles metropolitan area, with a population of approximately 18.7 million people and a cannabis retailer density of approximately one store for every 194k people in the region. The 3,250 square foot dispensary is one of only ten stores in the West Hollywood area that is licensed for both delivery and storefront retail. With more than 3.6 million visitors per year, West Hollywood is situated in the core of the Los Angeles region, surrounded by cultural destinations and tourist attractions in every direction. The acquisition