With the Prime Minister of Canada, Justin Trudeau promising to legalize, tax and regulate Cannabis, the eyes of the world are upon this country as a business model for Medical Cannabis .
A three year deal was just inked between rapper Snoop Dogg (aka Calvin Broadus Jr.), and Tweed which will grant exclusive rights to use specified content and brands owned by Snoop Dogg’s company. An additional two year extension is available at the end of the first three years.
Medical Cannabis producer Tweed is set to pay Snoop Dogg an undisclosed amount in cash and stock.
Although Snoop has made various investments into Cannabis such as creating a venture capital fund, with a sole focus on pot called Casa Verde Capital, as well as his own line of Cannabis, “Leafs by Snoop” in Colorado last November. However, this affiliation and resulting deal is the first trek into the Canadian Cannabis industry.
In a statement released by Snoop Dogg:
“There are real social and medical benefits from the cannabis industry, and the world is seeing this positivity in a whole new way…
Canada has been at the forefront of the business model, and I look forward to being a part of the road ahead.”
The Tweed president Mark Zekulin said that the company, which currently produces medical Cannabis, is preparing itself for the beginning of a recreational Cannabis market, and they plan to unveil more details regarding the deal soon.
“The deal locks us in a relationship with a connoisseur and icon in the cannabis space,” Zekulin said Thursday.
As reported before, Tweed is a subsidiary of the Canopy Growth Corp.
This reporter wonders if the perspective of Canadian Cannabis users were ever considered by the Westcoast Icon’s business team or not. One hopes the backlash is not too hard on this choice, as LP’s are not exactly favourited by the common Cannabis user or medical user alike.