While the focus of the story is more on his partner, Daniel Conway, who recently quit his position as Chief of Staff to Sacramento Mayor Kevin Johnson after he didn’t pursue a third term, Peter Hecht discusses Conway’s partner in new venture Truth, Ross Haley, extensively. Haley, who is the company’s Chairman of the Board, sold General Hydroponics and Vermicrop Organics to Scotts Miracle-Gro last year for a reported $130mm and continues to serve as CEO of the units.
Haley said he settled on the Truth name to underscore that the partners will invest and participate in strictly regulated marijuana businesses, with state and local permits and no ties to the black market. Haley is the leading investor in the cannabis business partnership and Conway is a minority investor.
Truth hasn’t invested yet but will be investing in the cannabis industry in the coming years as the new regulations in California become more formalized.
Read Peter Hecht’s “Mayor’s aide looks to become pot business player”: http://www.sacbee.com/news/state/california/marijuana/article53918545.html