Country superstar and notorious stoner, Willie Nelson and his marijuana company recently announced that they raised $12 million in new investor funding. Willie’s Reserve is looking to put that money to good use by seeking to expand their operation and tapping into the ever growing marijuana market in sunny California.
The parent company of Willie’s Reserve, country star Willie Nelson’s cannabis brand, announced today that it has raised $12 million in a convertible note deal led by Tuatara Capital. The funding will help the brand expand into other states and brings the company’s total funding to $29.5 million.
Always a proponent and outspoken advocate of legalizing marijuana use, Nelson vehemently believes that the tide has turned in the United States. Citing the successful legalization efforts around the country, Willie seems convinced that the nation’s attitude towards cannabis has definitely changed for the better.
“We’re on the right side of history,” said Nelson in a statement announcing the news. “People have spoken with their votes and their dollars. Now that we’ve proven regulating and taxing is good for individuals and business and states, it’s pretty clear that pot is good for America.”
Forever a champion of “the little guy,” Nelson hopes that his company will be able to help smaller growing operations blossom as his enterprise continues to expand around the country. One thing’s for sure, he’s not letting his brand’s success go to his head!
The company is careful about where it sources its cannabis from, hoping to support the smaller farmers that Nelson has relied on prior to legalization. Meanwhile, he seems intent on leaving the details to the pros: “Why should I grow if this guy over here, or that guy, already has it?” he told New York magazine ahead of launching Willie’s Reserve in 2015. “I haven’t become all that expert on that… The way I look at it is: I’m either high or I’m not.”