Country singer Willie Nelson has received Wall Street backing for his 'premium cannabis lifestyle brand' which is cashing in on the legal marijuana craze crossing America.
The 82-year-old singer founded Willie's Reserve in 2014 and has received funding from Tuatara Capital who support a range of legal cannabis companies.
Speaking about the deal, the Roll Me Up And Smoke Me When I Die singer said: 'I hear stories from people across the country about how the end of marijuana prohibition is improving their lives. Legal marijuana makes sense. Good business will prove it can work in America.'
Willie's Reserve will only be available in Colorado and Washington initially, but will roll out to other states if they alter their local cannabis laws.
The brand will be grown in Colorado and Washington.
Earlier, the country singer said: he was 'looking forward to working with the best growers in Colorado and Washington to make sure our product is the best on the market'.
Nelson joins other famous pot personalities, including rapper Snoop Dogg; singer Melissa Etheridge, developing marijuana-infused wine; and reality TV star and self-help guru Bethenny Frankel, who is working on a strain of Skinnygirl weed that wouldn't leave users with the munchies.
Washington and Colorado made pot legal for adult use in 2012. Oregon, Alaska and the District of Columbia also have removed legal restrictions, and more states are expected to vote on legalisation next year.
The moves have created marketing opportunities, but links to celebrity smokers aren't always considered a positive.
This year, the National Cannabis Industry Association decided to drop actor Tommy Chong — co-star of the 'Cheech and Chong' comedy team — as it prepared to lobby Congress for pot-friendly regulations. The group wanted to move past the stoner stereotypes they say Chong represents in favor of positioning pot as similar to fine wine.
Rapper Snoop Dogg has launched a new lifestyle website devoted to cannabis, claiming his respository will be an encyclopedia on the drug.
The website, merryjane.com, went live on Monday with a website which asked users to register for early access to the site.
The rapper described it as an online venue for information, insights, news and business guidance about the marijuana world and it boasts celebrity allies including actor Seth Rogen and singer Miley Cyrus.
He told the TechCruch Disrupt conference in San Francisco: 'We will be like the encyclopedia to the cannabis world.'
Merry Jane, which will be ad-supported, will try to connect legal shops and customers, according to a promotional video shown at the conference.
'I enjoy it for medical reasons,' Snoop Dogg responded when asked why pot was such a passion for him and so deeply tied to his persona as an entertainer.
'It is a peace situation for me. Every time I have been around it, I have seen beautiful things happen. I've seen people manifest love, peace and harmony.'
The rapper-turned-startup-investor predicted that marijuana would be legal in California and 20 other U.S. states in two years.
- DAILYMAIL.CO.UK -
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