Celebrities Increasingly Coming Out, Getting into Cannabis
The Mighty Croz co-founder talks about business partner David Crosby and cannabis licensing
LOS ANGELES–Two longtime musicians have announced their recent entry into the cannabis space. A veritable symbol of summer and good times, musician Jimmy Buffett on Friday announced a partnership between his Coral Reefer brand and cannabis company Surterra Holding Inc., for a full line of cannabis products including vape pens, edibles, topicals, and capsules. Atlanta-based Surterra has ten dispensaries located in Florida, as well as considerable capital funding from investors.
In July, legendary Crosby, Stills, and Nash founding member David Crosby announced his intentions to offer licensing opportunities to cannabis manufacturers with his Mighty Croz brand. Unlike Buffett, who has been involved in various branding and licensing deals with restaurants, hotels, casinos, retirement communities, and Anheuser-Busch, this is Crosby’s first branding opportunity, and it’s because cannabis is a product he’s happy to endorse.
After all, this is Dave Crosby, who in 1966 (with the other co-founders of also legendary band The Byrds), wrote the hit song “Eight Miles High.” The same Crosby that famously performed at the Monterrey Jazz Fest and Woodstock–so, cannabis culturally speaking, he’s about as OG as they get.
Sponder said they plan a full line of cannabis and CBD products and that Crosby is especially interested in the medicinal benefits of cannabis as a pain reliever, which may offer an effective alternative for patients who are trying to avoid opioid medications.He added that they are interested in hearing from cannabis companies that have long-term goals and expectations.
“This is an emerging environment now, where there’s a gold rush frenzy going on, so there’s a lot of new cannabis companies coming around, and a lot of companies that may not survive the shakeout, the inevitable consolidation that will be going on,” Sponder described. “So we’re being very careful to get in with a company that’s going to be around for the long haul.“What we found is; it’s the companies that are Canadian-based–but they do business around the world–are several of the ones that we’re taking seriously. Because first of all, they can do business there, they can actually bank it, and operate legally out of Canada, because it’s legal federally there,” he said.
“There’s been a dozen companies that have approached us, everything from startups to the largest publicly-traded cannabis companies,” Sponder added. “And in some ways the funded startups are more attractive to us because they can be entrepreneurial and nimble, and they don’t already have their hands in fifty different things going on, and they’re not just focused on raising their next round of money and make their next acquisition.”“Those are the ones that are showing us some of the most creative business plans about what they would do with David’s brand, both recreationally and medically,” he said.
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Published: September 16, 2018
Founder & Interim Editor of L.A. Cannabis News