NEW YORK – Global law firm Reed Smith today announced that it advised affiliates of Shawn “Jay-Z” Carter concerning the sale of certain ownership interest in two cannabis-related companies, CMG Partners Inc. (Caliva) and OG Enterprises, Inc., to Subversive Capital Acquisition Corp. (Subversive) and certain other related agreements.

Avocats associés à cet article: Jennifer W. Cheng Ari Edelman James R. Tandler Simon M. Kliegman

Cannabis plant

Subversive is the largest special purpose acquisition company (SPAC) in both cannabis and Canadian history. The transaction will include the acquisition of Caliva, Left Coast Ventures, Inc., and OG Enterprises, a joint venture between Caliva and an affiliate of Jay-Z, and other agreements between an affiliate of Jay-Z and Subversive.

Caliva is a California cannabis brand and leading direct-to-consumer platform. Left Coast Ventures is a predominant cannabis and hemp company with low-cost manufacturing and a diversified portfolio of brands.

Jay-Z will serve as Subversive’s Chief Visionary Officer.

The New York-based Reed Smith team advising Jay-Z included corporate partners Jennifer Cheng, Ari Edelman, and James Tandler and associate Simon Kliegman.

A copy of the Subversive release announcing this transaction can be found at businesswire.com.