Saucey Farms & Extracts, a boutique weed brand, is coming together with a hip hop icon to form what the new company is trumpeting as “a cannabis industry leader for the post-prohibition era.”
Under the deal announced on Tuesday, Saucey Farms & Extracts will enter into an agreement with TPCO Holding Corp., also known as “The Parent Company,” which will “manage the manufacturing and distribution of all Saucey products in the state of California.”
The glitzy side of this deal: Jay-Z is involved. According to the press release, “The Parent Company brings together global icon and entrepreneur Shawn ‘JAY-Z’ Carter, entertainment powerhouse Roc Nation, California’s leading direct-to-consumer platform Caliva, and top cannabis and hemp manufacturer Left Coast Ventures, to form a cannabis industry leader for the post-prohibition era.”
Jay-Z is identified as the “chief visionary officer” for The Parent Company.
Alex Todd, the founder of Saucey Farms & Extracts, cited the surge in marijuana reform as an impetus behind the deal.
“With all of the recent legalizations across the country, it was important for us to partner with a company that can help us grow to meet increasing demand,” said Todd in the press release on Tuesday. “I’m looking forward to working with The Parent