SAN JOSE, Calif. – TPCO Holding Corp. (NEO: GRAM.U) (OTCQX: GRAMF), a California cannabis company, is expanding its suite of edible offerings with the launch of DELI Dimes, a new gummy cannabis product in three delicious flavors: Black Cherry, Fresh Watermelon and Red Berry.
The launch of DELI Dimes extends The Parent Company’s roster of approachable gummy products to consumers seeking flavorful options and an enhanced experience at an unbeatable price. DELI Dimes are delicious gummy rounds bursting with juicy flavors and 10mg of THC from 100% full-spectrum oil for a rich experience. A uniquely affordable option, each DELI Dimes pouch has a retail price of $14 and contains ten (10) sugar dusted gummies, for a total of 100mg THC per pouch.
Expanding on the brand’s first edible product line – DELI Nickels gummies, which launched in May of 2020 and immediately became one of the Company’s top-selling gummy brands – this latest offering provides double the THC in every piece, ensuring the brand can meet consumers at every stage of their cannabis journey. This product line expansion, which increases DELI’s flavor varieties and provides options for consumers looking for varied levels of THC, has The Parent Company poised to continue its growth in this category. Gummy candies ranked #1 in sales revenue among all cannabis edible form factors in 2020, with 59.2% of the market share.1 In 2021, to-date, the gummy category has been the largest and one of the fastest growing categories in edibles in California with an annual growth rate of 26% and 61% market share totaling up to $332M in revenue.2
“We are thrilled to grow our gummy portfolio with the release of DELI Dimes, a product born from customer feedback and demand, built on top of the success of DELI Nickels. The Parent Company is committed to providing high-quality and affordable cannabis products – across a variety strains and form factors – for consumers to enjoy,” shared Dennis O’Malley, COO of The Parent Company. “As we expand our presence in the gummy category, it is our mission to continue producing innovative, safe and reliable products that are formulated with the highest quality ingredients.”
1BDSA, January 2020 – July 2021, Ingestibles/Edibles, Sales Revenue
2BDSA, January 2020 – December 2020, January 2021 – August 2021, Geography – CA, Category – Ingestibles/Edibles, Sales Revenue
At launch, consumers will have the opportunity to select from three delicious DELI Dimes flavors, all featuring effects driven by 100% full-spectrum oil extracted from indica, hybrid or sativa flower to meet their needs, no matter where they are in their cannabis journey. The flavors include: Black Cherry, an Indica treat featuring a tart taste of the orchard, Fresh Watermelon, a Sativa option bursting with flavors evocative of a fresh slice of summer sweetness and Red Berry, a berry sweet Hybrid gummy. To celebrate the launch of DELI Dimes, as well as the upcoming Halloween holiday, consumers who purchase the new gummy product at a Caliva store, through Caliva.com or via the Caliva app, will have the opportunity to try the newly launched, gummy rounds for only $10 per bag. The promotion begins on October 29 and will run through October 31, 2021.
DELI Dimes are available at Caliva retail stores, via delivery at Caliva.com and on the Caliva app, which is available for download through the Apple App Store.
FORWARD LOOKING STATEMENTS
This press release may contain forward-looking information within the meaning of applicable securities legislation which reflects The Parent Company’s current expectations regarding future events. The words “will”, “expects”, “intends” and similar expressions are often intended to identify forward looking information, although not all forward-looking information contains these identifying words.
Specific forward-looking information contained in this press release includes, but is not limited to, statements concerning the launch of a new cannabis gummy product, Deli Dimes. 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’s 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 “Risk Factors” in The Parent Company’s amended registration statement on Form 10 originally filed with the Securities and Exchange Commission on August 9, 2021, which is available on the SEC’s website at www.sec.gov and on SEDAR at www.sedar.com. 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.
Caution Regarding Cannabis Operations in the United States
Investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with medical or adult-use cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve The Parent Company of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of The Parent Company and any proceedings brought against the Company thereunder may adversely affect the Company’s operations and financial performance.
(This information is primarily sourced from TPCO Holding Corp. Highly Capitalized has neither approved nor disapproved the contents of this news release. Read our Disclaimer here).