Carmelo Anthony # 00 of the Portland Trail Blazers bounces off the ball during their game against the Boston Celtics on April 13, 2021 at Moda Center Arena in Portland, Oregon.
Sam Forencich | National Basketball Association | Getty Images
National Basketball Association stars John Wall and Carmelo Anthony are new investors in a cannabis company.
The couple helped LEUNE of California raise approximately $ 5 million in a round that includes the following NBA agent Rich Paul, Entertainer La La Anthony, music manager Anthony Saleh (Customers include Future and Nas) and the venture capital company Casa Verde Capital.
LEUNE said it will use the funds to market and expand its products to benefit more states legalizing marijuana.
“Your support during this critical growth phase makes a huge difference to a brand our size and we look forward to working together to build one of the leading names in cannabis,” said Nidhi Lucky Handa, CEO of the company. “These funds will be used to open up new horizons – from developing new products to opening up new regions.”
LEUNE’s investment comes a few days after actor Jaleel White was founded Headlines for starting his own cannabis line. White played Steve Urkel on the sitcom “Family Matters”. Former NBA star Al Harrington is also prominent in cannabis Room with his company, Viola. Harrington’s company raised $ 16 million in October 2019.
New York became the youngest state to legalize cannabis, joining Arizona, Montana, New Jersey and Arizona 12 other states, including the District of Columbia, made the pot completely legal. Although states can legalize, it remains illegal at the federal level.
But companies monitor democratic legislators Who could push for laws to end federal marijuana restrictions?
John Wall # 1 of the Houston Rockets shoots the ball against the Washington Wizards at Capital One Arena in Washington, DC on February 15, 2021.
Ned Dishman | National Basketball Association | Getty Images
Aphria CEO Irwin Simon said CNBC in February He expects marijuana to be legalized in the US in the next few years. On Tuesday, Over CEO Dara Khosrowshahi told CNBC “TeckCheck“The company would explore Deliver pot when it becomes legal.
“When the way for cannabis is clear, when federal laws go into effect, we will definitely have a look at this,” said Khosrowshahi.
LEUNE not only wants to expand its products, but also improve its social justice initiatives. The company will use the new investors to raise awareness of inequality and injustices across the industry. LEUNE has Partnerships with organizations like The Last Prisoner Project, Eaze Momentum, and the Floret Coalition.
“Maintaining a sense of community has always been my top priority,” Wall, who now plays for the Houston Rockets, told CNBC via email. “I appreciate that LEUNE is not only a successful cannabis brand but also helps raise marginalized voices through their ongoing work for social justice.”