Ontario marijuana producer Tweed strikes business deal with Snoop Dogg
TORONTO – Marijuana producer Tweed is pairing up with weed-smoking, gin-and-juice sipping Snoop Dogg in a deal that will grant the Ontario-based company exclusive rights to use certain content and brands owned by the rapper’s company, LBC Holdings.
In exchange for the rights, Tweed will pay Snoop Dogg an undisclosed amount in cash and stock.
The partnership is the rapper’s first foray into the Canadian cannabis industry.
Calvin Broadus Jr., the 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.
The deal with Tweed is valid for three years and may be renewed for another two at the end of that term.
© 2016 The Canadian Press