TPCO Holding Corp (The Parent Company) (NEO:GRAM.U) (OTCQX:GRAMF) announced Monday that its MONOGRAM brand – led by hip-hop superstar Shawn ‘JAY-Z’ Carter – has launched a national campaign to challenge existing cannabis laws in the US.
In a statement, the company said MONOGRAM's campaign highlights the lack of progress made since the War on Drugs began 45 years ago, along with the outsized consequences still facing those who have been victimized by its lasting effects across the US.
"Cannabis laws are out of date and disproportionately cruel and punishing when compared to the rest of the legal code,” JAY-Z said in a statement Monday. “We still don't have proper regulation for texting and driving in Missouri, but staying home and smoking weed will get you locked up.”
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The mogul said he has created the campaign to “amplify the voices of those who have been penalized for the very same thing that venture capitalists are now prospering from with the emerging legal cannabis market.”
“Far too often we forget that these are real people whose everyday lives and futures have been affected by this outdated legislature - people like Bryan Rone, who can no longer pursue a career in sales because of a cannabis-related conviction in 2003,” JAY-Z added.
The out-of-home and digital series draws attention to the hypocrisy of current regulations governing cannabis throughout the US, with “shockingly factual” headlines set against the backdrop of eight portraits of individuals who have been charged for cannabis-related offenses, according to The Parent Company.
The campaign will also introduce video testimonials from the eight featured individuals, giving them the chance to share their own experience with inequitable punishment for cannabis offenses in the US. The stories will appear on MONOGRAM’s website and social channels.
Social equity program
Steve Allan, The Parent Company’s CEO, told investors that one of the founding principles of the company was to foster social equity in cannabis.
“The disproportionate effects of the War on Drugs have been devastating, and we believe it is our responsibility to lay the stage to begin the process of righting the many wrongs against the Black and other minority communities,” Allan said.
“With this goal in mind, The Parent Company has funded a social equity ventures program to give Black and other minority entrepreneurs equal opportunity for participation in the legal cannabis industry. Led by Shawn 'JAY-Z' Carter and Desiree Perez (CEO of Roc Nation), this program will identify and fund the next generation of cannabis business leaders who are building value for their communities and diversity in our industry.”
The social equity ventures program will officially launch in the coming months, according to Allan. In addition, The Parent Company will empower its own house of brands to amplify the message as a part of its own advocacy campaigns.
“We are proud of MONOGRAM's ground-breaking efforts to address such an important issue,” Allan added.
Los Angeles-based The Parent Company is a leading vertically-integrated house of brands serving the California market.
Contact Angela at angela@proactiveinvestors.com
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