Ex-Wrigley CEO, Jimmy Buffett team up on medical marijuana venture

Wrigley’s investment team, Wychwood Asset Management, raised $65 million in a series C equity fundraising round for Surterra, totaling more than $100 million in capital since 2015. “Medical marijuana is a wonderful, natural product that helps people all over the world improve their health and well-being,” Wrigley said in a statement. He didn’t immediately respond to queries for a direct comment.

While Wrigley has strong ties to Illinois, don’t expect his medical marijuana to be sold here—yet. Surterra owns medical marijuana licenses in Florida and Texas, and while medical marijuana is legal in Illinois, Surterra hasn’t arrived in the Windy City.

Instead, it’s focused in Florida, where Wrigley has a home. But that doesn’t mean the Coral Reefer brand won’t make its way to the Midwest. Illinois’ first dispensaries opened in 2015, and there are currently more than 42,000 patients.

Coral Reefer announced plans to branch into other states, and details will be

... read more at: http://www.chicagobusiness.com/health-care/ex-wrigley-ceo-jimmy-buffett-team-medical-marijuana-venture

by

Leave a Reply