NBA legend and cannabis entrepreneur Isiah Thomas is growing his weed enterprise after announcing a $3 million investment into hemp and cannabis ingredient producer One World Pharma Inc. — according to a press release.
The press release states these funds will be used to support the expansion efforts of farm operations, additional certifications for THC seeds pre-approved by the government of Colombia, Global GAP (Good Agricultural Practices) certification, and the construction of a GMP certified state-of-the-art THC/CBD extraction facility.
“After extensive analysis of Colombia, the world market, and these most recent developments at the company, I passionately believe there is a tremendous opportunity to build a world-class, valuable, environmentally and socially conscious company that is a significant player in the global cannabis and industrial hemp industries,” Thomas shared in a statement. “There are few, if any, reliable, industrial scale, global supply chain companies in this space and we intend to be one. I am pleased to initiate this next chapter of growth.”
Thomas — a former Detroit Pistons player-turned-businessman — was recently named the new CEO of One World Pharma last June, replacing the company’s founder, Craig Ellins, according to Forbes.
— Isiah Thomas (@IsiahThomas) February 9, 2021
One World Pharma is a U.S. -based, fully licensed, pure-play hemp and cannabis ingredient producer in Colombia. The company received this hefty $3 million investment as a result of a move made by Thomas’ holding company, Isiah International.
So far, One World has received $250,000 of the investment, while the remaining funds are said to be distributed in monthly installments over the next six months.
As a result of this latest business move, Thomas is said to become one of the largest minority business owners in the Pan-American cannabis space, Benzinga reports. He will be joining the ranks of a select few Black men in the sports and entertainment industries which include fellow NBA legends Al Harrington and John Salley, as well as hip-hop artists Berner and B-Real.
Dr. Kenneth Perego — executive chairman of One World Pharma — credited Thomas for lending One World his “world-renowned leadership and business acumen.”
“Today, he provides the catalytic funding for the Company to truly execute on its plan to become a leading international supplier of the finest cannabis ingredients,” he added.
Thomas continues to build up his business empire following news that he recently teamed with tech firm Thirstie to launch an online presence for his Cheurlin Champagne brand — now the largest minority-owned champagne in the world.