Cannapreneur Partners Joins Forces with Veteran-Owned Dispensaries in Massachusetts
Cannabis investment firm Cannapreneur Partners announced this week that they are partnering up with two veteran-owned and operated cannabis dispensaries in Massachusetts.
The new joint venture includes JWTC Wick and Noble Manna LLC. Both businesses recently secured Host Community Agreements (HCA) in Rowley and Mendon, respectively, allowing them to open adult-use shops, pending regulatory approvals.
Cannapreneur also announced that the firm made investments in both dispensaries, and that the partnership plans to support the veterans community by supplementing costs of cannabis products, giving back up to 10% of net profits to help enhance access to cannabis for veterans, and operating a veterans-focused mentorship program.
“Our investment in both JWTC Wick and Noble Manna LLC is a critical step towards creating a more representative cannabis industry,” said Michael Scott, co-CEO of Cannapreneur Partners. “By hiring more veterans, providing them with executive mentorship and giving back a portion of dispensary profits, we want to demonstrate our commitment to ensuring more veterans can play a vital part in the cannabis ecosystem.”
Current statistics show that of the 2.7 million American veterans of the Iraq and Afghanistan wars, more than 20 percent struggle with PTSD and/or depression. Medical cannabis is known to help people suffering from depression, anxiety and PTSD, as well as those battling addictions with alcohol and painkillers. Despite this, the U.S Department of Veterans Affairs (VA) and Congress still do not permit veterans access to the plant.
After serving on the frontlines of Afghanistan, Army Sgt. and JWTC Wick co-founder Bill Duggan has seen fellow veterans suffer from various psychological and physical wounds after their service. He says that “cannabis can have a positive impact on society and that it saves lives, particularly within the veteran’s community,” and is committed to helping veterans through this recent partnership in Massachusetts.
Bruce Spinney, Marine Sgt. and Noble Manna founder, notes that “veterans not only have an impeccable work ethic, they are also exceptional at executing standard operating procedures — something that is critical in the cannabis sector.” Through his joint venture with Cannapreneur, Spinney hopes to create programs that empower veterans and their families.
Cannapreneur Partners is based in Westborough, Mass. and has stakes in many cannabis consumer and technology companies, including: Nature’s Remedy, a retail storefront in Massachusetts; GroIQ, a seed-to-sale software company aimed at driving operational efficiencies; and anna, an AI-powered self-checkout solution.
The firm focuses on retail dispensaries and enhancing the consumer buying experience. Earlier this year, Cannapreneur brought on Kevin Harrington — an original “Shark” on ABC’s Shark Tank and creator of the infomercial As Seen on TV brand — to be a strategic advisor and brand ambassador for the firm and its portfolio companies.
Originally published at https://medium.com on November 22, 2020.