Master P Sues Firm for Pulling Out of his Cannabis Company
The multitalented Master P is suing Privateer Holdings for breach of contract after the firm dropped his deal to produce and distribute his line of cannabis products in California.
Last year, Master P announced the release of Master P’s TREES, his own line of cannabis and vape products. Last March, the rapper and entrepreneur landed a one-year deal with Privateer Holdings to produce and distribute his products in California. But things quickly turned sour over agreement disputes.
According to Master P’s lawsuit, Privateer pulled out of the agreement last July, leaving the rapper to cover the costs himself. Master P is seeking $25 million in damages. According to court documents, the company only wanted “an inside look into the urban and hip-hop demographic of cannabis users.”
“For as long as I can remember cannabis has been around, helping medical patients and now it’s a legal lifestyle,” Master P told Hip Hop Wired last year. “I’m happy to be an innovator in this movement, and to offer a healthier option with our edible grade oils and pioneering the vape movement is what Master P’s TREES is all about. We don’t just want to promote the cannabis industry, we want to shape it in the direction of health, and to promote its health and healing aspects.”
Master P, as CEO and founder of No Limit records, has sold millions of albums, and was once a professional basketball player for a brief period. Last April, he bought the New Orleans Gators. In August, he launched a mixed-gender basketball league. His pronounced entrepreneurial skills, like Diddy or Jay-Z, has helped him amass his $250 million dollar fortune.
Master P’s foray into the cannabis industry was originally scheduled to launch in July, but the setback may delay the product launch.
