NBA stars John Wall and Carmelo Anthony put money into a California-based hashish firm

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LEUNE raised approximately $ 5 million from investors that include NBA stars, agents, and record industry executives.

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Sam Riches FILE: Portland Trail Blazers forward Carmelo Anthony (00) ricochets the Chicago Bulls in the first half at the United Center.  /. FILE: Portland Trail Blazers forward Carmelo Anthony (00) ricochets the Chicago Bulls in the first half at the United Center. /. Photo by David Banks-USA TODAY Sports

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“These funds will be used to explore new horizons – from developing new products to opening up new regions,” said Nidhi Lucky Handa, CEO of the company.

The company told CNBC that some of the money will also be used for social justice initiatives. LEUNE is a partner of The Last Prisoner Project, Eaze Momentum and the Floret Coalition.

In an email to CNBC, Wall said maintaining a sense of community is a top priority. “I appreciate that LEUNE is not only a successful cannabis brand but also helps raise marginalized voices through their ongoing work for social justice,” he said.

In a press release, Carmelo Anthony’s wife, La La Anthony, said she was trying to invest in a cannabis company that resonated with her personally.

“Founded by an extraordinary woman of color, LEUNE has both a mission and an aesthetic that really hits the mark,” said Anthony.

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