Stocks in the Canadian cannabis industry have soared after the unveiling of Snoop Dogg’s Leafs by Snoop range.
The range was released by Tweed, a subsidiary of Canopy Growth Corp., which saw its stocks jump 17% to a record high this week. Canopy became the first cannabis grower to trade on a major North American stock exchange when it arrived on the Toronto Stock Exchange in July.
The gains also had a positive effect on other growers, with Vancouver-based Aurora Cannabis up 22%, as Bloomberg reports.
“Snoop is much more than an artist, entertainer and entrepreneur,” said Mark Zekulin, president of Tweed, 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.”
Snoop Dogg added: “What started for me in the 90s in Cali now has a home in places like Colorado, where real progress is being made.”
The Leafs By Snoop range comprises three strains – Sunset, Ocean View and Palm Tree CBD – and is expected to hit the Canadian market this month. Canada’s Prime Minister, Justin Trudeau, campaigned for office on a legalization pledge and is due to receive a report next month recommending how to implement legalization.