A marijuana producer from Ontario, Canada, is teaming up with Snoop Dogg in a first-of-its-kind endorsement deal. Tweed will have exclusive rights to use specific content and brands owned by Snoop’s company LBC holdings. In exchange, Snoop Dogg will be compensated with both cash and stock according to Cannabis Culture. Snoop’s deal with Tweed is the first move he’s made in the Canadian marijuana market but certainly not the first in all.
Snoop’s deal with Tweed will last three years. At the end of the deal, there is an option to extend for two more years.
“There are real social and medical benefits from the cannabis industry, and the world is seeing this positivity in a whole new way,” Snoop Dogg said in a statement about the deal with the Canadian cannabis company. “Canada has been at the forefront of the business model, and I look forward to being a part of the road ahead.”
— Terry Demostenes (@Terrydemostenes) February 12, 2016
“Our team is proud to bring Snoop into the fold,” said Mark Zekulin, Tweed’s president, Thursday. “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,'”
“The deal locks us in a relationship with a connoisseur and icon in the cannabis space,” Zekulin added.
The deal between Tweed and Snoop is very mutually beneficial. The West Coast rapper will serve as one of the first major faces to commercialize the marijuana industry and Tweed can take full advantage of that in their branding and marketing. In turn, Snoop looks to make a lot of money and if the company really does well, he’ll get even richer than he already is because he will own part of the company.
Much like the revolution currently taking place in the United States where Colorado, Washington, and Oregon have already legalized marijuana for recreation use, Canada seems to be helping to lead the way. Prime Minister Justin Trudeau supports legalization of marijuana and has promised to legalize, tax, and regulate cannabis.
Tweed and Snoop Dogg strike a deal for new partnership. https://t.co/hvWjnP8U2V
— Tune Collective (@tunecollective) February 12, 2016
Even though Bedrocan, the parent company for Tweed, continues only to support the medical marijuana community, it looks like they are gearing up for the end of prohibition. That is when celebrity endorsements and a marketing plan using someone as recognizable in the marijuana industry as Snoop Dogg will immediately shoot the brand to the top because of the buzz surrounding such a huge icon to stoners everywhere.
Snoop Dogg is one of the most respected icons of the soon-to-explode marijuana industry and his stamp of approval is like a winning lottery ticket when legalization happens. Tweed must think it will happen in Canada within the next three years because that’s how long they have to capitalize on Snoop’s likeness.
— CBC Ottawa (@CBCOttawa) February 12, 2016
Snoop has been a very vocal supporter of legalization everywhere. In September 2015, Snoop and his partner Ted Chung launched the marijuana lifestyle site Merry Jane. The website’s popularity is soaring and Snoop has become a truly respected supporter of legalization in recent years. Having Snoop sign on with a company like Tweed is proof that the industry is changing drastically and it’s happening rapidly. Snoop is setting himself up for a very lucrative cash out because he was wise enough to get invested in the industry that he’s been supporting for decades anyway.
[Photo by Kristian Dowling/Getty Images]