After 12 years on Shady/Aftermath/Interscope Records, 50 Cent has parted ways with his label home for a distribution deal with Caroline/Capitol, the rap mogul announced Thursday (Feb. 20). 

As it stands, 50 is technically a free agent. A new label agreement means he and G-Unit are no longer tied to Eminem's and Dr. Dre's Shady/Aftermath imprints, but there are no hard feelings between the parties. "I have had great success to date with Shady/Aftermath/Interscope and I'd like to thank Eminem and Dr. Dre for giving me an incredible opportunity," 50 said in a statement to the Associated Press. "I've learned so much from them through the years. I am excited to enter this new era where I can carry out my creative vision." 

Em added some words of his own, stating that he is "grateful to have had a chance to play a part in 50's career," and credited the Queens MC with helping grow Shady Records. "Shady simply would not be what it is without 50 Cent," noted Em. "I've developed a great friendship with 50 over the years, and that's not going to change. We know 50 will have success in his new situation, and we remain supporters of both him and G-Unit." 

50 has sold more than 30 million records on Interscope. His departure comes after years of very public disagreements with the label, which is home to a host of other rappers including Kendrick Lamar, Game, Chief Keef, and French Montana.

In Dec. 2011, 50 threatened to leave the label for delaying his fifth album. "Ok I tried to be cool with my record company," he tweeted. "I went to the meeting talk to everyone and s--- feels like there [sic] moving in slow motion…I'm sorry to announce I will not be releasing a new album this year if we don't get on the same page."

Though the album never came out, 50's latest business venture will include a digital promotional push for his Caroline/Capitol debut, Animal Ambition. The project goes up for pre-order March 18, and will be marketed with weekly videos leading up to the drop date. 

Animal Ambition is due out June 3.    

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(Photo: Mike Coppola/Getty Images for Sundance Channel)