Jan. 25 (UPI) — Cannabis company Caliva closed its first round of funding at $75 million, with Pro Football Hall of Fame quarterback Joe Montana among its investors.
The company issued a news release listing Montana as a participant in its initial round of funding. Former Yahoo and Autodesk CEO and Cisco board member Carol Bartz also participated.
“As an investor and supporter, it is my opinion that Caliva’s strong management team will successfully develop and bring to market quality health and wellness products that can provide relief to many people and can make a serious impact on opioid use or addiction,” Montana said.
Caliva employs more than 440 workers and has two operating locations in the Bay Arena. Montana, 62, played 13 of his 15 NFL seasons for the San Francisco 49ers. The eight-time Pro Bowl selection and three-time All-Pro won the Super Bowl four times and was a two-time MVP during his decorated tenure.
Montana has a net worth of $80 million, according to CelebrityNetWorth.com.
Caliva will use the investments to grow its product portfolio and expand its reach to costumers in California with branded retail stores, expanded wholesale distributions and direct-to-consumer channels.
“I know great opportunities when I see them,” Bartz said. “I believe that Caliva will be the first true large scale consumer product company in the U.S. cannabis industry.”
The company’s products include vape pens, flowers, edibles and more. They can be dropped off via same-day delivery from San Francisco to Gilroy, Calif., or picked up in-store.