NBA legend Isiah Thomas sets up to dominate the Pan-American cannabis space
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NNPA Staff and Wire Report
NBA icon Isiah Thomas continues to make history in a post-playing career that’s fast becoming as legendary as years on the hardwood.
The superstar, whose Cheurlin Champagne is one of the best-selling in the world, announced that his company, ISIAH International, LLC, will invest $3 million into One World Pharma, Inc., a U.S.-based, fully licensed, pure-play hemp and cannabis ingredient producer in Columbia.
“Let it be known,” Thomas, using his favorite hashtag, tweeted about the deal. “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.”
According to a news release, the $3 million investment will fund the expansion of farm operations, additional certifications for THC seeds already approved by the government of Colombia, Global GAP (Good Agricultural Practices) certification and the build-out of a GMP certified state-of-the-art THC/CBD extraction facility.
The investment will be made in installments over six months, with the first tranche of $250,000 having already been funded.
The farm expansion through this funding is expected to allow One World Pharma to significantly increase revenue in the second quarter of 2021 through the increased sale of seeds, newly approved cuttings, and extracted oil.
Thomas made the substantial financial commitment through ISIAH International reportedly because of his belief in the bright future of the global cannabis market, which leading research firms assert will reach $47 billion in annual sales by 2025.
ISIAH International is a holding company with interests in a diversified portfolio of companies.
Wholly owned Thomas, ISIAH International invests in companies with strong market positions and growth potential.
With this investment, Thomas becomes one of the largest minority business owners in the Pan-American cannabis space.
“We could not be more thrilled. When Isiah Thomas assumed the role of CEO, he lent us his good name and his world-renowned leadership and business acumen,” Dr. Kenneth Perego, OWP’s Executive Chairman, said in the news release. “He provides the funding for the Company to truly execute on its plan to become a leading international supplier of the finest cannabis ingredients.”
Thomas added: “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.
“There are few, if any, reliable, industrial scale, global supply chain companies in this space and intend to be one. I am pleased to initiate this next chapter of growth.”
NNPA Senior Correspondent Stacy M. Brown contributed to this report
