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

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

The Sam Lindsay Aquatic Centre will be closed from June 28 until September 13 for annual facility maintenance as well as teach pool and decking repairs. (Black Press photo)
Sam Lindsay Aquatic Centre closed: June 28 – September 13

The aquatic centre will be closed for annual facility maintenance

Shoes are being left at the viewpoint on Haisla Blvd in response to the 215 bodies discovered at the Kamloops Residential School. (Jacob Lubberts photo)
Haisla Nation responds to 215 Indigenous children found buried at the site of Kamloops Indian Residential School

“Many Haisla children were sent far away, to places such as Port Alberni, and to Coqualeetza”

Susan Jay hosted a plant and garage sale on May 25 and donated all of her proceeds to the Kitimat General Hospital Foundation to help with the purchase of a new bus for residents at Mountain View Lodge, Delta King and the new Kitimat Valley Housing Society dementia home. (Barbara Campbell photo)
KGHF thanks Susan Jay for her help to purchase a new bus for seniors in multi-level care

Susan donated all proceeds to KGHF, her efforts netted the hospital foundation a total of $1,760

An example of what a mural would look like on the back wall on Ron’s Bait and Tackle Store which faces the courtyard and sidewall. The mural photos shown here are mock-ups of existing artwork on walls of interest in the downtown core to build anticipation within the community about the concept of murals. The KPAA will not necessarily be using these locations or this artwork for the actual murals. (KPAA photo)
Kitimat Public Art Alliance mural funding request denied

D’Andrea suggested she will come back to the council at a later date with a more concrete plan

L-R: Vanessa Couto, Montana Murray, Connor Best, Dawn Best, Natalia Lopez, Thomas Walton, and Charlotte Collier partaking in the clean-up Kitimat campaign on May 28. (Katie Peacock photo)
Kitimat’s MStar Hotel brings out staff’s competitive clean-up side

The hotel staff circulated the Big Spruce Trailhead and picked up as much garbage as they could

People watch a car burn during a riot following game 7 of the NHL Stanley Cup final in downtown Vancouver, B.C., in this June 15, 2011 photo. THE CANADIAN PRESS/Geoff Howe
10 years ago: Where were you during the 2011 Vancouver Stanley Cup Riots?

Smashed-in storefronts, looting, garbage can fires and overturned cars some of the damage remembered today

(Black Press Media file)
Dirty money: Canadian currency the most germ-filled in the world, survey suggests

Canadian plastic currency was found to contain 209 bacterial cultures

(pixabay file shot)
B.C. ombudsperson labels youth confinement in jail ‘unsafe,’ calls for changes

Review states a maximum of 22 hours for youth, aged 12 from to 17, to be placed in solitary

Eleonore Alamillo-Laberge, 6, reads a book in Ottawa on Monday, June 12, 2017. THE CANADIAN PRESS/Sean Kilpatrick
Parents will need to fight ‘COVID learning slump’ over summer: B.C. literacy experts

Parents who play an active role in educating their children this summer can reverse the slump by nearly 80%, says Janet Mort

The border crossing on Highway 11 in Abbotsford heading south (file)
Western premiers call for clarity, timelines on international travel, reopening rules

Trudeau has called Thursday meeting, premiers say they expect to leave that meeting with a plan

The B.C. government’s vaccine booking website is busy processing second-dose appointments, with more than 76 per cent of adults having received a first dose. THE CANADIAN PRESS/Jonathan Hayward
B.C.’s COVID-19 infections, hospitalizations stable for Tuesday

108 new confirmed cases, 139 in hospital, 39 in intensive care

A worker, at left, tends to a customer at a cosmetics shop amid the COVID-19 pandemic Thursday, May 20, 2021, in Los Angeles. (AP Photo/Marcio Jose Sanchez)
Half of cosmetics sold in Canada, U.S. contain toxic chemicals: study

Researchers found that 56% of foundations and eye products contain high levels of fluorine

White Rock’s Marine Drive has been converted to one-way traffic to allow more patio space for waterfront restaurants. (Peace Arch News)
Province promotes permanent pub patios in B.C. post-pandemic plan

More than 2,000 temporary expansions from COVID-19 rules

Most Read