Robert Kamau/GC Images

Jay Z has been named "chief visionary officer" of a major new weed company.

The semi-retired rapper recently announced he was launching his own marijuana line, Monogram, with the brand Caliva.

On Tuesday, Nov. 24, bosses at Subversive Capital Acquisition Corp. announced they had agreed to a deal with Caliva execs and Jay Z to create a new vertically integrated weed company to be named TPCO Holding Corp - with the former drug dealer set to serve as its Chief Visionary Officer.

Robert Kamau/GC Images

In a press release, the "99 Problems" rapper said he would also use his role to reform America's criminal justice system and help those convicted of weed-related offenses by providing training and job placements.

Patricia Schlein/WENN

"Although we know we can't fully redeem the injustices created by the 'war on drugs', we can help shape a brighter and inclusive future,” explained Jay Z (pictured in 2008). "The brands we build will pave a new path forward for a legacy rooted in equity, access, and justice. We're creating something people can trust and we're investing in our future, our people, and our communities."

TPCO also boasts Jay's Roc Nation labelmates Rihanna and Meek Mill as shareholders, with the stars "leveraging unparalleled cultural influence" to get other famous names on board.