Canadian rap artist and actor Drake, has signed with Lil Wayne’s label Young Money Entertainment under the Cash Money umbrella after rumors, weeks prior, pinned him to the label even though he was stated to have been making his decision between three or more major labels on last month. Drake’s deal also comes with distribution through Universal Republic.

The announcement of his signing comes one day after performing with Lil Wayne at the 2009 BET Awards.

The rapper who hasn’t released a debut album yet, has been making noise via his mixtapes such as “So Far Gone” which feature the track “Best I Ever Had,” which has been getting a considerable amount of radio spins and heavy distribution through the Internet.

Meanwhile, Drake’s debut album which will be entitled “Thank Me Later” is expected to be released late 2009 or early 2010.

In other news, rapper Drake will be on tour for Lil Wayne’s “Young Money Presents: America’s Most Wanted Music Festival” alongside Soulja Boy Tell’Em and Young Jeezy, which kicks off this Summer.

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