“A Wrigley heir invests in cannabis,” that’s the news today and comes hot on the heels of Molson Coors’ massive investment last week. Yes, William “Beau” Wrigley Jr. II has led a fundraising round totaling $65 million for the Georgia-based medical cannabis startup, Surterra, Bloomberg reports. In addition to the Wrigley heir’s investment, Beau Wrigley will also join Surterra’s board of directors and take over as the chairman of the board.

“I am thrilled to join the Surterra team and help drive their mission to build a best-in-class cannabis healthcare business. After extensive diligence, we determined that Surterra has the highest quality standards, best products, and most professional management team in the industry. 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 explained in his first public comments following the move.

Since the sale of his family’s company to Mars Inc. back in 2008, Wrigley has backed numerous companies through his personal investment firm based out of Florida. Surterra represents the first plant-touching business that he has invested in. In a story that echoes John Boehner’s reversal of his own stance on pot, Wrigley cited the plethora of benefits that medical marijuana offers to patients suffering from a variety of maladies as a primary reason for his investment.

For Surterra, which already has 10 medical dispensaries in Florida as well as a license in Texas, the move provides an injection of financing that brings their fundraising to over $100 million, a healthy advantage for medical and recreational businesses alike in the financing-strapped cannabis scene. While the startup is only in the medical aisle for now, Wrigley confirmed to Bloomberg that the company will be eventually moving into the recreational-consumer market. It’s also a strong reminder that Florida, much like Massachusetts, New Jersey, and New York are open for business. That the East Coast, heck, the entire country, is rapidly becoming the next frontier in cannabis business.

However in his words on Surterra, Wrigley also added a word of caution: “Everyone seems to be in there because they think they’re going to make tons of money. Some will and some will be sorely surprised when they understand how complex it is.”

One way to improve your chances of succeeding (if not making “tons” of money)? Working with an experienced and capable team of experts. Have questions about investing in the plant-touching industry, or just general questions about the cannabis sector? Let us know: Facebook, Instagram, Email, Phone: 310.449.4528.