Drake watches Game 6 of the NBA Finals as the Toronto Raptors play Golden State Warriors from Jurassic Park at the Scotiabank Arena in Toronto on Thursday June 13, 2019. Canopy Growth Corp. is teaming up with Drake to launch More Life Growth Co., a licensed cannabis producer in Toronto THE CANADIAN PRESS/Chris Young

VIDEO: Canopy Growth and Drake team up on new cannabis venture

Drake will hold a 60-per-cent stake in More Life Growth Co.

Canopy Growth Corp. is teaming up with Drake to launch More Life Growth Co., a licensed cannabis producer based in Toronto.

Under the agreement, Drake will hold a 60-per-cent stake in More Life and Canopy Growth will own the remaining 40 per cent.

Canopy Growth will provide all of the day-to-day operations and maintenance of the More Life facility cannabis production facility in Toronto and will retain all of the rights to distribute the product that is grown at the location.

Drake has granted More Life the right to exclusively use certain intellectual property and brands in association with the growth and sale of cannabis and cannabis-related products, accessories, merchandise and paraphernalia in Canada and internationally.

The maintenance of the non-Canada rights after 18 months is contingent upon certain performance targets being met.

Canopy Growth has the right to nominate two directors to the More Life board as well as a pre-emptive right to maintain its ownership interest in the company.

ALSO READ: Seizure of cannabis edibles, including mac-and-cheese, prompt warning from B.C. RCMP

The Canadian Press


Like us on Facebook and follow us on Twitter.

Just Posted

West Shore students get message on interface fires

Royal Roads University teams up with high school students and Langford Fire

Rickter Scale: Children in the eye of the porn storm

The Rickter Scale is a weekly column

PHOTOS: Trangender flag raised for first time ever outside of B.C. Legislature

Nov. 20 marks Transgender Day of Remembrance, honouring those who have been murdered

Oak Bay ready for 19th annual Light Up

Games, crafts, live music, roasted chestnuts mark Sunday’s Light Up

B.C. politicians view supermodel’s transition journey on Transgender Day

Liberal MLA Jane Thornthwaite and New Democrat MLA Spencer Chandra Herbert appear in the documentary

POLL: Do you plan on making any purchases on Black Friday?

We’ve all seen the images. Shoppers rioting outside of a store in… Continue reading

Greater Victoria Crime Stoppers wanted list for the week of Nov. 19

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

B.C. won’t appeal decision protecting ICBC court experts

Change to evidence rules next to save money, David Eby says

1898 Yukon gold rush photo featuring Greta Thunberg look-alike sends internet into tailspin

Jokes erupted this week after a 120-year-old photo taken by Eric A. Hegg surfaced from archives

Distracted driving tickets not for ICBC revenue, B.C. minister says

Minister Mike Farnworth calls SenseBC analysis ‘nonsense’

CN Rail strike and lack of trucking alternatives stoke forest industry fears

Companies calling on the federal government to ‘do everything in its power’ to end the strike

Prime Minister Justin Trudeau unveils new Liberal cabinet

Pivotal role in his new cabinet for a minority-government era goes to Chrystia Freeland

Most Read