A California cannabis firm is aiming to become a publicly traded company by late May and is anticipating on bringing thousands of jobs with it.
Glass House Group is merging with Mercer Park Brand Acquisition Corp. and will become traded on Canada’s NEO exchange, the companies announced earlier in April. The acquisition cost Mercer Park $567 million, according to a joint press release.
While the date for officially going public has not yet been set by the exchange, the companies “expect it to be very late May or early June,” Glass House Group told the Washington Examiner on Thursday.
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“I was asked by a neighbor in Carpinteria if now he’ll be talking to some guy in Canada who doesn’t care about him when ordering cannabis products and the answer was, no, you’re still talking to me,” Graham Farrar, co-founder and president of Glass House, told the Santa Barbara Independent on Wednesday. “I run the show no different than yesterday. We just now happen to be a publicly traded stock on the Canadian exchange.”
With the expansion, the company estimated that it will add 2,000 workers to its team in the next 12 to 18 months, California’s ABC 3-12 reported.
The company also expects that it will have 21 retail stores in the state by the first quarter of 2022.
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“I’m really excited for the next chapter,” Farrar added. “I think it’s validation that what we built is important and exciting. And I think it’s validation that cannabis is becoming more mainstream. I look forward to having more resources to fund the mission of Glass House, which is to bring the good of cannabis to the good of the people, and now we’re going to be able to do that for even more people.”
