Cannabis Co. CEO Pays for College for 108 Hometown Kids [VIDEO]

The former CEO of a national cannabis company is picking up the tab on tuition, books, fees, and room and board for 108 seniors about to graduate from his alma mater.

Pete Kadens announced the gift at an assembly at the high school in Ottawa Hills, just outside of Toledo. Kadens was the CEO of Green Thumb, a national cannabis company, until he retired at the age of 40.

"I had to come back to my hometown, the community that gave me my tools ... and give back," Kadens said. "Scott High School has been under-served for so many years."

Kadens also pledged to send one parent or legal guardian of each of the students to college.

According to ABC-13, more than 99% of the Ottawa Hills community lives in poverty. Kadens also hopes to further education in the community by establishing a program aimed at giving future generations the opportunity for higher education.