The Snoop Dogg deal with Canopy Growth’s (TSXV: CGC) subsidiary Tweed generated significant interest when it was announced earlier this month. The details were a bit limited at the time of the announcement, but one issue that hasn’t been addressed, until now, is how much did Snoop Dogg get for the deal? Canadian securities filings reveal that Canopy Growth paid Snoop Dogg in stock:
At the time of the deal, the 386K shares had a value of $999,999 (Canadian dollars), though the value has increased subsequently as the shares of Canopy Growth have increased from $2.59 to $2.87, netting Snoop Dogg a paper gain of roughly $108K.
Based in Houston, Alan leverages his experience as founder of online community 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email