Drake launches cannabis brand with Canopy Growth
November 7, 2019 By Grow Opportunity staff
Toronto icon and award-winning rapper Drake is officially in the cannabis business.
On Nov. 7, the More Life Growth Company was announced as a wholly-owned subsidiary of Canopy Growth Corporation. Based in Drake’s hometown of Toronto, the More Life brand is centred around wellness, personal growth and “the hope of facilitating connections and shared experiences around the globe.”
“The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting,” said More Life Growth founder Drake in a statement. “The idea of being able to build something special in an industry that is ever growing has been inspiring. More Life and More Blessing.”
The company has a licensed cultivation facility in Scarborough, Ont. which is an eastern borough of the Greater Toronto Area. Canopy Growth will provide the day-to-day operations and maintenance of the facility and maintain all rights to distribute its products.
Drake holds 60 per cent ownership interest and Canopy Growth retains 40 per cent.
“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 Canopy Growth CEO Mark Zekulin. “We anticipate a long, successful, and mutually beneficial working relationship.”
Canopy Growth operates 11 licensed cannabis production sites across Canada and owns a variety of cannabis brands, such as Tweed, Tokyo Smoke and Spectrum Therapeutics. The company has established partnerships with cannabis icons like Martha Stewart, Snoop Dogg and Seth Rogen, breeding companied DNA Genetics and Green House Seeds, and Fortune 500 alcohol company Constellation Brands.
Print this page