The Parent Company, said it would terminate an announced $50M investment for 6.2% of California-based grower Glass House Group.
MJBiz
- In a statement to WeedWeek, Glass House CEO Kyle Kazan wrote, “While the investment portion of an agreement with TPCO was negotiated in May, we then faced the task of working out a 10-year offtake and retail agreement in less than a month, in order to meet our closing date. That proved a bit too ambitious, and since we did not need it, we went without it. This does not change Glass House’s plans.”
- A statement from The Parent Co. didn’t give a reason for ending the deal.
Quick Hit
- Analyst Alan Brochstein says the bullish thesis for pot stocks is playing out.
New Cannabis Ventures
