California cannabis juggernaut The Parent Co. said Friday it will not go through with a planned $50 million private placement in GH Group, a cannabis company recently acquired by blank-check company Mercer Park Brand Acquisition Corp.
The Parent Co. , which itself was formed via a $1. 2 billion blank-check transaction last year and has rapper Jay-Z as its “chief visionary officer,” gave no reason for its reversal but said it would consider future partnerships with GH Group — better known as Glass House — as it continues with plans to expand its greenhouse cultivation in California.
Had the investment happened, The Parent Company…
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Published: July 05, 2021
Founder & Interim Editor of L.A. Cannabis News
