Hip hop star Drake and cannabis company Canopy Growth have reached an agreement to launch a new licensed cannabis producer.
More Life Growth Company will be based in Drake’s hometown of Toronto, with Drake holding a 60% ownership of the company and Canopy Growth holding the remaining 40%. A production facility in Scarborough licensed for the cultivation, processing and sale of cannabis will now be owned by More Life, though Canopy will continue to provide day-to-day operations and maintenance of the facility and retain all of the rights to distribute the product that is cultivated there.
More details about the company’s leadership team and products will be made available in the coming weeks, but today’s announcement said the company would focus on “wellness, discovery and overall personal growth with the hope of facilitating connections and shared experiences across the globe.”
Mark Zekulin, CEO of Canopy Growth, said in a release that Drake’s perspective as “a culture leader and entrepreneur” combined with his company’s cannabis expertise will help More Life “bring an unmatched cannabis experience to global markets.”
The use of celebrity likenesses and endorsements is heavily restricted under the Cannabis Act. But, as part of the deal, Drake has granted More Life Growth Company the right to use “certain intellectual property and brands.” Drake’s other business ventures include OVO and premium bourbon brand Virginia Black. However the company has not said if those brands would be integrated with More Life in any way.
Seemingly taking a page from his own strategy of hyping his albums, Drake began teasing the launch of More Life this week on his Instagram feed, driving fans to a private More Life Instagram account. Bouquets of flowers were also sent to members of the Canadian media and given out in Toronto’s downtown.
As the world’s biggest cannabis company, Canopy Growth has previously attracted high-profile figures to help them with their cannabis ambitions. This year, the company began working with Seth Rogen to launch cannabis brand Houseplant, and with Martha Stewart to develop a line of CBD products aimed at pets.
