Drake is partnering with Canopy Growth to launch a new cannabis company.
More Life Growth will be a fully licensed producer, with a production facility in Scarborough, Ont. Drake will hold 60% of the business, while Canopy the other 40%.
After teasing a new business on his Instagram Tuesday, there was speculation Drake was getting into cannabis. The deal was confirmed in a press release Thursday morning.
The release talks about “best-in-class products,” and says the brand will be positioned around “wellness, discovery and overall personal growth.” But this is undoubtedly about using one of the biggest names in the world to launch a new cannabis brand that will come with instant name recognition.
“Drake’s perspective as a culture leader and entrepreneur combined with Canopy Growth’s breadth of cannabis knowledge will allow our new company to bring an unmatched cannabis experience to global markets,” said Mark Zekulin, CEO, Canopy Growth Corporation.
Canopy has done similar deals with Snoop Dogg and more recently, Canadian actor and filmmaker Seth Rogen.
“The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting,” said Drake in the release. “The idea of being able to build something special in an industry that is ever growing has been inspiring.”