*R&B/funk legend Sly Stone has signed with Los Angeles-based Cleopatra Records, reports Billboard.com.

The former Sly & the Family Stone frontman is said to be working on an album for release in early summer 2010, featuring new original material and re-recorded versions of his greatest hits.

Cleopatra (www.cleopatrarecords.com), distributed in the U.S. and Canada by E1 Entertainment, is headed by founder/CEO Brian Perera.