The hitmaker announced plans to open up a chain of dispensaries throughout America last month (Apr15) and now Nelson is launching the company Willie's Reserve, through which he will release Willie Weed.

The 81 year old plans to sell the product in Colorado and Washington, where recreational marijuana is legal.

He tells, "I will make sure it's good or it won't be on sale. There should be a menu just like in a restaurant because there's so many different kinds of pot that do many different things. It's a good idea to have everything labelled for what it does, what it don't do (and) how powerful it is."

Nelson, who is a proud pot smoker, hopes his ventures into the marijuana industry will help to end prohibition of cannabis in the U.S.

He continues, "It fell together like evolution wants it to. It's just a matter of time in this country before it's legal. I feel like I bought so much, it's time to start selling it back!"

A statement from Nelson adds, "I am looking forward to working with the best growers in Colorado and Washington to make sure our product is the best on the market."