Jay-Z’s Cannabis Brand Secures Partnership To Produce Over 900,000 Pounds Of Product

Jay-Z’s Cannabis Brand Secures Partnership To Produce Over 900,000 Pounds Of Product

Jay-Z is making more money moves!

Late last year, rapper-turned-entrepreneur Jay-Z (real name Shawn Carter) announced his plans to launch a cannabis brand, Monogram. Now, it looks like he’s planning big things for this company–including the production of 900,000 pounds of Cali-grown marijuana!

Monogram is owned by The Parent Company (TPCO Holding Corp.)–of which Jay-Z is the Chief Visionary Officer. It recently acquired another cannabis company, Mercer Park Brand Acquisition Corp. Additionally, The Parent Company is on track to merge with another cannabis company, Glass House Group. This partnership is reportedly worth about $567 million, and it would allow The Parent Company products (e.g. Monogram) to be sold in Glass House dispensaries. Additionally, the merger would allow for a massive amount of cannabis to be produced.

Steve Allan–Chief Executive Officer of The Parent Company–commented on the partnership, stating:

“These partnerships are a fantastic opportunity to secure long-term access to over 900,000 pounds of high-quality, low-cost, California-grown cannabis for use across our expanding portfolio of branded products. Our focus over the last 100 days has been to continue to scale up our supply chain. Our strategic investment accomplishes two important components, gaining access to Glass House’s greenhouse-grown cannabis at attractive pricing and expanding the distribution of our products to their network of retail stores.”

It looks like Jay-Z is on track to make big bucks from his cannabis brand’s merger–and produce a whole lot of weed!

What do you think about Jay-Z’s latest move? Comment down below to let us know!