Mike Tyson's company, West Virginia cannabis farm partner

A company owned by former world heavyweight boxing champion Mike Tyson is teaming up with a West Virginia cannabis farm.

News outlets report officials announced Monday that Tyson Holistic and West Virginia's Almost Heaven Agriculture are partnering to put a hemp extraction facility at the latter's existing greenhouse.

Tyson Holistic Chief Operating Officer Kevin Bell says they chose an existing license holder for a joint venture, as the state only gives licenses twice a year. He touted the uses of medicinal hemp, which retails for a higher price than industrial hemp, but says the state currently has no extraction facility.

Bell says the company plans to invest "whatever it takes" in the West Virginia hemp industry. The company is also looking at reclamation land to grow crops.