Former New York Knicks Star and Cannabis Proponent Al Harrington Joins Tidal Royal Advisory Board

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Wednesday, September 19, 2018

Cannabis legalization throughout Canada and the majority of states in the U.S. is re-shaping the way people look at the medicinal benefits of the plant and creating a massive industry at the same time. For some advocates, the therapeutic effect of cannabis and its constituents have long been realized, including former NBA journeyman Al Harrington, who has devoted his career outside of basketball towards building a business around cannabis and healthier living through his company The Harrington Group. On Wednesday, Toronto-based Tidal Royalty Corp. (CSE:RLTY.U) said that Harrington has joined the company's advisory board to provide strategic advice based upon his experience as a cannabis industry leader.
Tidal Royalty provides financing to an array of companies engaged in the legal cannabis industry in the U.S. The company in the last month alone has agreed to finance expansion for a licensed operator in Illinois; finance expansion of Diem Cannabis into Massachusetts; finance a new cannabis manufacturing and distribution facility in Palm Desert, California; and spend $8.0 million to acquire a royalty entitlement and equity interest in Alternative Medical Enterprises, LLC, a leading multi-state, vertically-integrated operator. In return for the financing, the company collects a royalty on products, giving investors diversified exposure to the burgeoning industry.
The 25th pick overall in the 1998 draft by the Indiana Pacers, Harrington joined the NBA right out of high school. Throughout his career, he played for the Atlanta Hawks, Golden State Warriors, New York Knicks, Denver Nuggets, Orlando Magic and Washington Wizards before retiring in 2015. His best years statistically were with the New York Knicks from 2008-2010, including averaging 20.7 points and 6.3 rebounds per game in the 2008-2009 season.
Harrington learned of the therapeutic relief that can come from cannabis following complications of knee surgery. He later introduced cannabis to his 80-year old grandmother, who immediately realized the benefits in dealing with her pain caused by glaucoma and diabetes. The Harrington Group now holds controlling interests in Viola Extracts (a top-selling national cannabis brand named for Harrington's grandmother) and Harrington Wellness (a consumer health and wellness brand), and a non-controlling interest in Butter Baby (a leading producer of THC-infused butter).
"With [Harrington's] success in building three noteworthy brands, and his previous career as an elite professional athlete, I am confident Mr. Harrington will contribute tremendously to the growth and success of Tidal Royalty," commented Tidal Royalty chief executive and chairman Paul Rosen in this morning's news release.
In addition to looking to Harrington for advice, the two parties are evaluating potential synergies between Tidal Royalty and The Harrington Group, according the release.
Shares of RLTY.U are trading up 4.2% at 25 cents in morning trading on the Canadian Securities Exchange.

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