Diddy’s $185 Million Cannabis Deal Reportedly Falls Through

etcanada.com:

Diddy’s plans to make a major $185 million USD investment in the legal marijuana game have allegedly fallen through. The rapper “waited in the wings as Cresco Labs and Columbia Care planned their proposed merger that was agreed upon last year,” sources told TMZ.

However, the site added that “the shareholders never reached an agreement, and Diddy’s deal was terminated earlier this week as a consequence.” READ MORE: Diddy Cheers On His Daughter Chance Combs In Adorable Instagram Post: ‘Words Can’t Describe How Proud I Am’ Diddy’s team told TMZ that the star still plans to invest in and hopes to “diversify” the industry, they “just have to find the perfect fit.” If the deal were to go ahead, Diddy would’ve been the owner of nine stores throughout three U.S.

states; New York, Massachusetts and Illinois. Billboard claimed back in November that the deal would “create the nation’s largest Black-owned and licensed cannabis company.” READ MORE: Diddy Denies Paying Sting $5K Daily For ‘I’ll Be Missing You’ Sample, Says He Was ‘Just Joking’ Diddy previously said in a statement: “My mission has always been to create opportunities for Black entrepreneurs in industries where we’ve traditionally been denied access, and this acquisition provides the immediate scale and impact needed to create a more equitable future in cannabis. “Owning the entire process — from growing and manufacturing to marketing, retail, and wholesale distribution — is a historic win for the culture that will allow us to empower diverse leaders throughout the ecosystem and be bold advocates for inclusion.”