SMITHS FALLS, ON, Feb. 12, 2016 /PRNewswire/ - Tweed Inc., a subsidiary of Canopy Growth Corporation (TSXV: CGC), is pleased to announce that it has entered into a business partnership with entertainment icon Snoop Dogg.
Snoop Dogg is one of the world's most respected cannabis icons and pioneers in the industry. He is recognized as a connoisseur of quality, medical cannabis products and has expanded his entrepreneurial endeavors to provide expertise and strategy to business ventures that, like Tweed, represent the birth of a new industry.
"There are real social and medical benefits from the cannabis industry- and the world is seeing this positivity in a whole new way," said Snoop. "Canada has been at the forefront of the business model, and I look forward to being a part of the road ahead."
Under the partnership, Snoop, through a controlled company, and Tweed have partnered on curated content and brand strategy exclusively in Canada. The license agreement is for an initial three-year term with a two-year extension. As partial consideration for the arrangement, the controlled company will receive a combination of Canopy shares, royalties, and monetary compensation, released over the course of the agreement.
Snoop Dogg has truly paved the way across the global cannabis industry. In September, Snoop and business partner Ted Chung launched online media platform MERRY JANE as the definitive cultural destination for cannabis news and original content. He was the first to release a widely-lauded cannabis brand, Leafs By Snoop. And via Casa Verde Capital, Snoop is also recognized as a leading venture capitalist in the space- investing in early stage start-ups.
"Our team is proud to bring Snoop into the fold," said Mark Zekulin, Tweed's President. "Today we're announcing our partnership and welcoming him to one of Canada's most exciting industries. Over the coming months we'll unveil the specifics, and until then all I can say is 'stay tuned.'"
Broadcast B-roll is available upon request.
About Tweed Inc.
Tweed Inc. is a Canadian company licensed under the Marihuana for Medical Purposes Regulations to produce and sell marijuana to authorized medical customers. Tweed strives to supply a wide selection of marijuana, as diverse as the patients who trust the company with their patronage. For more information visit www.tweed.com
About Canopy Growth Corporation
Canopy is Canada's first publicly traded medical marijuana company and the first geographically diversified producer with multiple licenses under the Marihuana for Medical Purposes Regulations.
Through its wholly owned subsidiaries, Tweed Inc., Tweed Farms Inc. and Bedrocan Canada Inc., Canopy operates several state-of-the-art production facilities in Ontario and distributes marijuana across the country to Canadian patients managing a host of medical conditions.
Canopy is dedicated to educating healthcare practitioners, providing consistent access to high quality medication, and furthering the public's understanding of how marijuana is used for medical purposes.
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Although Canopy Growth Corporation has attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking statements, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. Readers should not place undue reliance on forward-looking statements. The factors identified above are not intended to represent a complete list of the factors that could affect the Company or any of its subsidiaries. The forward-looking statements included in this news release are made as of the date of this news release and Canopy Growth Corporation does not undertake an obligation to publicly update such forward-looking statements to reflect new information, subsequent events or otherwise unless required by applicable securities legislation.
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SOURCE Canopy Growth Corporation