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.

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Milestone RCMP Cops For Kids fundraiser ride going virtual

You can join and help RCMP raise funds for families and possibly win 20th anniversary cycling shirt

QUIZ: A celebration of dogs

These are the dog days of summer. How much do you know about dogs?

Haze over Okanagan and Shuswap skies may have drifted from Siberia

Few active wildifres so far this summer in B.C.

Guerrilla Gigs replacing Streetfest this summer in Revelstoke

Buy one of 30 tickets the Sunday before the Wednesday show

UPDATE: Trans-Canada Highway open to single-lane traffic west of Revelstoke due to flooding

The highway between Revelstoke and Golden is also open again

B.C. accommodators need phone lines to light up as in-province travel given green light

Travel restrictions during the COVID-19 pandemic have decimated the tourism and hospitality industries

Coalmont woman airlifted after ATV crash

Off-road vehicle swerved to miss oncoming traffic

Northern communities welcome tourists as province opens to in-B.C. travellers

Officials have asked British Columbians to be careful as they travel this summer

Summerland campground to provide COVID-safe accommodations for temporary farm-workers

The managed seasonal worker campsite will be located within a separated area of Peach Orchard Municipal Campground

300 Cache Creek residents on evacuation alert due to flood risk as river rises

Heavy rainfall on Canada Day has river rising steadily, threatening 175 properties

No abandoned Seadoo found on Coldstream lake

Vernon Search and Rescue crews and RCMP unable to find reported abandoned Seadoo on Kal Lake

Kelowna high school football star, water skier, signs with University of Calgary

Isaac Athans, and his family, have a long history of success across various sports in the Okanagan, nationally

First glimpse of Canada’s true COVID-19 infection rate expected mid-July

At least 105,000 Canadians have tested positive for COVID-19 since the coronavirus was identified

Police ramp up efforts to get impaired drivers off B.C. roads this summer

July is dedicated to the Summer CounterAttack Impaired Driving Campaign

Most Read