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

Parents plan second rally as CUPE 441 strike in SD63 stretches into third week

Parents have written to the provincial government asking them to step in

Monster Truck Chaos comes to Victoria, tickets on sale Friday

Monster Truck Chaos rumbles into Save-On-Foods Memorial Centre Jan. 25 and 26

Peninsula Panthers face nemesis Victoria Cougars Friday night

Cougars are the only Vancouver Island Junior Hockey League team to have beaten the local Cats twice

Christian minister accused of transphobia draws small audience, protesters in Sidney

Art Lucier is ‘100 per cent’ sure would-be audience stayed away because of perceived controversy

Greater Victoria Harbour Authority’s second steel shipment arrives safely

The GVHA’s original shipment was lost at sea in December 2018

‘We love you, Alex!’: Trebek gets choked up by ‘Jeopardy!’ contestant’s answer

The emotional moment came in Monday’s episode when Trebek read Dhruv Gaur’s final answer

Petition to ‘bring back Don Cherry’ goes viral after immigrant poppy rant

Cherry was fired from his co-hosting role for the Coach’s Corner segment on Nov. 11.

Woman airlifted with serious injuries after being struck by car in Nanaimo

Woman, hit in crosswalk, suffers life-threatening injuries; driver co-operating with police

B.C.’s high gasoline prices still a mystery, Premier John Horgan says

NDP plans legislation this month, seeks action from Justin Trudeau

Group walking on thin ice at B.C. lake sparks warning from RCMP

At least seven people were spotted on Joffre Lakes, although the ice is not thick enough to be walked on

One dead after fiery crash in Duncan

A man has died after a fiery motor vehicle collision Monday night,… Continue reading

VIDEO: Don Cherry says he was fired, not sorry for ‘Coach’s Corner’ poppy rant

Cherry denies he was singling out visible minorities with his comments

B.C. teacher suspended for incessantly messaging student, writing friendship letter

Female teacher pursued Grade 12 student for friendship even after being rebuked

Vancouver Island substitute teacher said he wanted a student to ‘whack’ two others on Grade 8 field trip

Campbell River teacher-on-call suspended three weeks after November 2018 incident

Most Read