TPCO Holding Corp. (OTCPK:GRAM.F) acquired Calma West Hollywood.

TPCO Holding Corp. (OTCPK:GRAM.F) signed a definitive agreement to acquire Calma West Hollywood for $11.5 million on June 28, 2021. The purchase value comprised of $8.5 million in cash and $3 million in equity of TPCO Holding. To ensure Calma remains a staple in West Hollywood, the Calma Founder Cobby Pourtavosi will remain involved with operations of the business. The agreement remains subject to regulatory review and approval, including approval by the City of West Hollywood and standard closing conditions. Upon the initial closing anticipated to take place in Q3 2021, 85% of the equity of Calma will be obtained by the TPCO Holding upon approval by the City of West Hollywood. The transfer of the remaining 15% equity of Calma is expected to occur in 2022. On October 1, 2021 TPCO Holding Corp closed the first tranche of its acquisition of Calma West Hollywood with the acquisition of 85% of Calma's outstanding equity which is the maximum allowed by the City of West Hollywood. TPCO Holding Corp expects to complete the second legal closing for the remaining 15% of Calma's equity during 2022, as local regulations permit.

TPCO Holding Corp. (OTCPK:GRAM.F) acquired Calma West Hollywood on September 27, 2022. In connection with the final closing of the remaining 15% acquisition, TPCO Holding issued in aggregate $1.5 million common shares of the Company to equity holders of Calma. The acquisition received all necessary regulatory approvals.