Rap icon and cannabis connoisseur Snoop Dogg is making weed world headlines once again today. The founder and CEO of Leafs by Snoop has just made his first foray into the Canadian cannabis industry.
Toronto marijuana producer Tweed is partnering with Snoop in a deal that will give the Ontario-based company exclusive rights to use certain content and branding owned by the rapper’s company, LBC Holdings.
In exchange for the rights, Tweed has offered to pay Snoop an undisclosed amount in cash and company stocks.
In a statement, the D-O-G-G shared a little bit of background info on why he chose to partner with the marijuana entity.
“There are real social and medical benefits from the cannabis industry, and the world is seeing this positivity in a whole new way.” He later continued, “Canada has been at the forefront of the business model, and I look forward to being a part of the road ahead.”
Calvin Broadus Jr., the famous west-coast rapper known as Snoop Dogg, has made a number of investments recently in the marijuana business, including launching his own cannabis line, Leafs by Snoop, in Colorado last November.
Earlier last year, he created a venture capital fund focused on the pot industry called Casa Verde Capital.
Snoop Dogg’s Casa Verde Capital has been active in the past few months investing in companies like Reddit and Robinhood, the zero-fee online trading platform.
He is also looking to be a leading investor into the growing cannabis industry that has been struggling to attract capital because of the uncertain regulatory climate.
Recently, the “Drop It Like It’s Hot” rapper debuted his Leafs by Snoop line which is full of edibles from chocolate to other candies. He also plans to continue extending his reach with the initiation of his Casa Verde Capital fund.