The latest athletes to invest in the cannabis industry will be familiar to fans of the National Basketball Association (NBA). NBA All-Stars John Wall and Carmelo Anthony were involved in the latest funding round for California-based LEUNE, reports CNBC . The company raised about US$5 million. Other investors included venture capital firm Casa Verde Capital, music manager Anthony Saleh, who courts Nas and Future among his clients , as well as NBA super-agent Rich Paul. Guess what venture former NBA star and fired ESPN analyst Paul Pierce is high on? Al Harrington’s cannabis brand is coming to Canada Toronto company partners with former NBA player Al Harrington on CBD topical line LEUNE is described as a “cannabis lifestyle brand,” and will reportedly use the funds for marketing purposes and to expand its product line, which includes pre-rolls, flower, all-in-one vaporizers and PAX vape cartridges. “These funds will be used to help us traverse new horizons — from developing new products to unlocking more geographies,” said company CEO Nidhi Lucky Handa. The company told CNBC that some of the money will also go towards its social justice initiatives. LEUNE is partnered with The Last Prisoner Project, Eaze Momentum and the Floret Coalition. In an email to CNBC , Wall said cultivating a sense of community is a top priority. “I appreciate that LEUNE is not only a successful cannabis brand, but one that helps uplift marginalized voices through their ongoing social justice work,” he said. In a press release , La La Anthony, Carmelo Anthony’s wife, said she had been looking to invest in a cannabis company that resonated with her personally. “Founded by an extraordinary woman of colour, LEUNE has both a mission and aesthetic that really strikes a chord,” said Anthony.
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Source : NBA stars John Wall and Carmelo Anthony invest in California-based cannabis company
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