While we were not awarded a license, we are thrilled for the businesses that will be able to move forward to help citizens in need.
Chicago, Illinois (PRWEB) February 03, 2015
Salveo Health & Wellness CEO Alex Thiersch stated today that he is heartened to see that the Illinois Compassionate Use of Cannabis Pilot Program is progressing with the announcement of cultivation and dispensary licenses. Although Salveo will not be one of the initial license holders, Thiersch said that Salveo will be able to assist other licensees in getting the program up and running through its newly formed private equity fund, Salveo Capital.
“While we were not awarded a license,” Thiersch said, “we are thrilled for the businesses that will be able to move forward.” According to Thiersch, “Salveo is now in a position to invest in this young industry, and build it into a sustainable, reliable source of relief for those in need.”
Thiersch stated that Salveo Capital is already looking into marijuana-related investments around the country, and that the fund is open to helping license holders in Illinois. The company believes in the effectiveness of medical cannabis, and is eager to help it develop in its home state and throughout the U.S. “Salveo is not short on capital, nor short on ideas, and we will continue to look into ways to provide aid to ailing patients in Illinois and elsewhere.”
Thiersch added that more information on the private equity fund is forthcoming, but that the fund will target aggregate investments in the marijuana industry, “hopefully between $15 million and $25 million,” which would make it one of the largest cannabis-focused private equity funds in the nation.
According to Thiersch, “The licensure process has allowed Salveo to connect with many like-minded individuals looking to invest in the cannabis space. As such, Salveo Capital is in a unique position to help new license holders turn their plans into reality.”
Salveo Capital has already received proposals from entrepreneurs looking for capital. Inquiries should be directed to Alex Thiersch or John Dohm.
Salveo Health & Wellness is a company formed, founded, and run in Chicago, Illinois. The team includes Illinois farmers, Illinois small business owners, and world-class security experts.
For questions contact:
Salveo Health & Wellness
312 981 0991
180 N LaSalle Ste 3700
Chicago, IL 60601