Weezy's labelmate made the announcement while onstage at a concert as part of kickoff festivities for the NBA All-Star game that's to be held in New Orleans Sunday night (Feb. 16).
The announcement comes just days after the release of the project was revealed to be fairly imminent. In an interview with Canisius College newspaper The Griffin, Young Money VP of promotion Mel Smith said that the label was "very close to dropping the album," though the date was not revealed at that time because the rapper was hoping to "surprise people."
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Should the release date hold, "Tha Carter V" will come nearly three years after the release of its predecessor, "Tha Carter IV." That album went to No. 1 on the Billboard 200, hitting a total of 964,000 copies sold in its first week. The rapper followed the album with last year's "I Am Not a Human Being II," which hit No. 2 with 217,000 first-week copies sold.