JAY-Z’s Marijuana Company Wins Deal To Produce Over 400,000Kg Of Cannabis
JAY-Z’s Marijuana Company Wins Deal To Produce Over 400,000Kg Of Cannabis
One other thing Jay Z is well known for aside from his music career is showcasing himself as a businessman. He once famously described himself as a “business, man!” on Kanye West’s 2004 single “Diamonds”.
The rap mogul has tried his hands in just about any market you can think of. From hard liquor to streaming services. In the first half of the year 2021, he finalized a deal with Jack Dorsey’s Square Inc. to acquire a majority stake in Tidal and reportedly filed to trademark a TV and film production company.
The Roc Nation boss has officially secured a new deal that will see 410,000 Kg of his product being legally produced. According to a press statement, he’s also gearing up to become an owner of California’s largest cannabis producer after multiple multi-million dollar transactions.
You would recall that Jay- Z launched his Monogram cannabis brand at the tail end of last year.
The Parent Company’s Chief Executive Officer Steve Allan had this to say about the new business, “These partnerships are a fantastic opportunity to secure long-term access to over 900,000 pounds of high-quality, low-cost, California-grown cannabis for use across our expanding portfolio of branded products. Our focus over the last 100 days has been to continue to scale up our supply chain.
Our strategic investment accomplishes two important components, gaining access to Glass House’s greenhouse-grown cannabis at attractive pricing and expanding the distribution of our products to their network of retail stores.”
