Marijuana sweets to make a mint
MR MOXEY’S MINTS, the US confectionary producer that uses marijuana in its sweets, is looking to raise £15million from investors in the UK to finance its expansion.
Founded by British former investment banker Tim Moxey, the firm has held talks with investors about raising the funds it needs to capitalise on the legalisation and tight regulation of the drug in the US. The proposed deal values the firm at £100million. The firm takes a trace amount of the drug and combines it with herbs and flavourings such as ginseng, chamomile and echinacea to produce its mints.
Moxey said: “There is a wave of legalisation going on in the US, it is proof that the model works. Prohibition did not work at all and now what people see is that it generates a lot of taxes. This [fund raising] will give us the firepower to go out there and tell our story. We will be able to fire up production and expand from state to state.”