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

Just Posted

Ridge Meadows RCMP arrest four people after report of forcible confinement

Two men, two women in custody after Lougheed Highway was shut down on Wednesday evening

Maple Ridge arts centre focused on ‘service and survival’

Executive director positioning the ACT for the quickest possible recovery

Maple Ridge COY award named in youth advocate’s memory

Community foundation announces Citizen of the Year finalists

Maple Ridge – Pitt Meadows and Katzie Community Response Network looks to shine light on elder abuse

One of main risks for potential abuse is isolation, which has increased with COVID-19

LETTER: Pitt Meadows man calls on B.C. government to better fund parks

Investment in parks will pay off for the future, letter writer says

B.C. counts 125 new COVID-19 cases, up to 1,284 active

No new deaths or health care facility outbreaks

Missing mushroom picker in northern B.C. found dead

Witset elder found deceased in Price Creek area more than two weeks after he vanished

BC Greens focus on long-term care reform in first platform promise

Greens have promised to move away from the for-profit care home model

‘It’s a nightmare’: Northern B.C. family desperate after living in hotel for a year

Renae Podgorney says because of a lack of rentals, she’s now applying to rent a one-bedroom unit

Is it time to start thinking about greener ways to package cannabis?

Packaging suppliers are still figuring eco-friendly and affordable packaging options that fit the mandates of Cannabis Regulations

Join Black Press Media and Do Some Good

Pay it Forward program supports local businesses in their community giving

Costs climb to more than $100K for BC SPCA to care for animals in B.C. farm seizure

Eight puppies, of the 97 animals seized have now died from parvovirus enteritis

Chilliwack man, 31, in critical condition after altercation at Langley university

RCMP received a report of an ‘agitated man’ on TWU campus

B.C. VOTES 2020: Wilkinson to stop 24-hour camping in city parks

Ban on ‘unsafe roadside panhandling’ to be enforced

Most Read