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Capone-N-Noreaga will be reuniting and releasing a new LP under the label that first helped launch their careers. The formative rap duo, alongside Noreaga’s Good Belt Gang, have inked a deal with Penalty Entertainment, LLC.

Via AllHipHop:

CNN is returning to Penalty Entertainment (formerly Penalty Recordings) 17 years after their debut album The War Report was released on the imprint. For this stint with the indie label, Noreaga is bringing Good Belt Gang’s City Boy Dee, Yung Reallie, D Tweez 4 Da Cheese, Sanogram, Black Boy Cocca and Money Ming along as well.

“I’m excited to once more be apart of Penalty, a company I helped build in the late 90′s. Get ready for us to shake the game up this time around!” states Nore. “Good Belt Gang is where my heart is at. I’m happy to be able to help birth the careers of some very dope and creative artists and I’m super hyped to be doing it along with Penalty.”

Both CNN and GBG are expected to release albums this fall. Capone-N-Noreaga’s upcoming LP will be the follow-up to 2010′s The War Report 2: Report the War.

Capone-N-Noreaga and Good Belt Gang join Joell Ortiz, eMC (Masta Ace, Stricklin, Punchline & Wordsworth), Hi-Rez, and Lil’ Mo at the revamped Penalty. The label is being distributed by Sony RED.

Congrats to the team. We look forward to hearing new music. Peep the official announcement in the video clip below.

Photo: Instagram