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UGO.com has an interview with Sean C & LV. They talk about how they got in with Diddy and they clarified The Hitmen relationship a bit.

UGO.com: So are you guys officially in the Hitmen?

LV: When we work with Puff, we work under the Hitmen. And then we do stuff on our own, outside of that situation as well. Like, we did the Jay-Z record with Puff, and [that was] Grind Music/Hitmen. When we did Ghostface, that was just Grind Music.