ETF News

Wrigley Jr joins cannabis company Surterra as chairman

Aug 6 (Reuters) - Surterra Wellness said on Monday that William Wrigley Jr, former chief executive officer of chewing gum maker Wm Wrigley Jr Co, had joined the medical marijuana company as the chairman of its board.

Surterra said Wrigley’s direct investment arm recently led the company’s $65 million series C equity fundraising round, bringing the total capital raised to over $100 million since 2015.

“We believe in the ability of cannabis to improve quality of life for patients across the country, and we are excited to build a global industry leader for the long term,” Wrigley said.

Surterra, which has licenses in Florida and Texas, said it would conduct clinical trials with cannabinoid - molecules derived from marijuana - to treat anxiety, pain and post-traumatic stress disorder (PTSD). (Reporting by Aakash Jagadeesh Babu in Bengaluru; Editing by Maju Samuel)