Cash From Cannabis Companies Support Charities And Help Groups Free Pot Prisoners

Cannabis companies Verano Holdings Corp. VRNO VRNOF and Glass House Brands Inc. GLAS GLAS GLASF GHBWF have joined a long list of cannabis companies that are sharing their profits with relevant charities and non-profits.

On Monday, Glass House announced that the company's co-founder, chairman and CEO, Kyle Kazan, has joined the board of directors of The Weldon Project, a non-profit co-founded by former cannabis prisoner turned criminal justice advocate Weldon Angelos.

The company, based in California and Toronto, also announced a $25,000 donation to further support The Weldon Project's ongoing mission to assist individuals incarcerated for nonviolent, cannabis-related offenses.

Glass House has plans to spearhead upcoming fundraising initiatives for The Weldon Project as well as a campaign to petition the Biden administration to free all federal nonviolent cannabis prisoners.

Glass House was among more than 150 high-profile signatories that supported The Weldon Project's September letter to President Biden urging a complete and unconditional pardon to all nonviolent marijuana offenders still serving time in prison.

Meanwhile, the Chicago-based Verano revealed that it is donating $150,000 to the Lynn Sage Breast Cancer Foundation, the most significant charitable gift in Verano's history and largest cannabis company contribution received by the Lynn Sage Breast Cancer Foundation to date.

"Through Verano's generous commitment to our mission, we will continue working to eradicate breast cancer," said Laura Sage, the foundation's co-chair and founder. "We are honored to have Verano on Team Lynn Sage as we forge ahead working to prevent breast cancer and improve outcomes for individuals with breast cancer."

VRNOF Price Action: Verano’s shares traded 4.18% higher at $11.22 per share at the time of writing on Tuesday morning.

GHBWF Price Action: Glass House Brands’ shares traded 3.12% higher at $1.65 per share at the time of writing Tuesday late morning.

Photo: Courtesy of Michael Longmire on Unsplash