Canadian cannabis growers have reached a ‘high’ after a recent partnership with rapper Snoop Dogg. Canopy Growth Corp. has jumped to a record high after its subsidiary, Tweed Inc. announced that it will begin selling different varieties of cannabis under the “Leafs by Snoop” brand in October. The Smith Falls, a cannabis company jumped as much as 17% in Toronto trading. Other smaller marijuana companies have also rallied with Aurora Cannabis Inc, up 22% to a record.
Why Snoop Dogg?
“Snoop is much more than an artist, entertainer and entrepreneur,” President of Tweed, Mark Zekulin, said in the release. “He’s also one of the most trusted voices in cannabis the world over. We’re welcoming a cannabis culture icon into the Canadian industry.”
Canada is closer to full legalization of marijuana that is now allowed for medical use. Canadian Prime Minister Justin Trudeau and his government who have been campaigning to legalize it, will receive a report in November on how Canada can move forward with the legalization. The drug is making a big move in parts of the US, where Colorado and Washington have made the drug use legal.
Snoop Dogg also markets cannabis products under the same label in Colorado. “What started for me in the 90s in Cali now has a home in places like Colorado, where real progress is being made,” Snoop Dogg said in the statement.
Time to invest in weed?
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