Subversive Capital Acquisition Corp. Announces Limited Redemptions With $381 Million In Cash Remaining In Escrow



Subversive Capital Acquisition Corp. (NEO: SCV.A.U, SCV.WT.U,OTCQX: SBVCF) (“SCAC“), a special purpose acquisition company, is pleased to announce that, after processing the notices of redemption received prior to the redemption deadline, SCAC will have an aggregate of US$381 million to execute on its growth strategy and fund transaction expenses and considerations. As previously announced, SCAC will acquire, directly or indirectly, all of the equity of CMG Partners, Inc. (“Caliva“) and Left Coast Ventures, Inc. (“Left Coast Ventures“) (collectively, the “Transaction“) to form TPCO Holding Corp. (“The Parent Company“). SCAC also entered into agreements with global icon, entrepreneur and MONOGRAM founder, Shawn “JAY-Z” Carter, and entertainment powerhouse Roc Nation.

Michael Auerbach, Chairman of SCAC and The Parent Company, said, “The limited redemptions reaffirm investor confidence for The Parent Company and our vertically integrated strategy to consolidate and dominate the California cannabis market. We are grateful for our shareholders’ support and look forward to the anticipated close of the transaction later this week.”

The Parent Company will own its supply chain, enabling the company to leverage scale and profitably produce and distribute a broad portfolio of cannabis products for every consumer segment. The vertically integrated, omnichannel strategy will maximize gross profit and EBITDA margins, scale consumer reach, generate proprietary consumer data, and beat the illicit market on price, quality, and convenience.

After completion of the Transaction, The Parent Company will be one of the most well-capitalized cannabis companies in the United States and will pursue an aggressive M&A strategy to accelerate growth, market share gains, and profitability.

SCAC anticipates that the Transaction will close on or around January 15, 2021, subject to customary closing conditions. A copy of the final prospectus (the “Prospectus“) associated with the Transaction is available on SEDAR at and on SCAC’s website at


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