The San Jose company, Caliva, says it will use the money to grow an organization that already includes a farm, retail store, distribution center and delivery service. Caliva also distributes its branded products in dozens of other retail outlets throughout the state.
“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, 62, said in a statement.
Montana’s venture capital firm, Liquid 2 Ventures, made the investment. The football legend’s individual portion of the investment was not disclosed.
The former San Francisco 49ers and Kansas City Chiefs quarterback hasn’t said whether he uses marijuana. But this is his first investment in the marijuana industry, joining a slew of other ex-athletes who’ve endorsed the drug, including Ricky Williams, Bill Walton, Jim McMahon and Rob Van Dam.
In 2017, Montana took part in a $4.1 million investment in Herb – which produces and distributes marijuana-related news and entertainment.
The Associated Press contributed to this report.