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.

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

Just Posted

Interior Health declared the COVID-19 outbreak at McKinney Place long term care home over Monday, Jan. 18, 2020. (File photo)
COVID-19 outbreak at McKinney Place care home declared over

‘This has been one of our most challenging outbreaks so far,’ says chief medical health officer

A health-care worker prepares a dose of the Pfizer-BioNTech COVID-19 vaccine at a UHN COVID-19 vaccine clinic in Toronto on Thursday, January 7, 2021. THE CANADIAN PRESS/Nathan Denette
253 new COVID-19 cases, 4 more deaths in Interior Health over the weekend

More than 1,000 cases in the region remain active

Sunnybank
COVID-19 related deaths at Oliver, West Kelowna and Vernon senior care homes

Sunnybank, Heritage Retirement Residence and Noric House recorded deaths over the weekend

The bus shelter across from the police detachment is one of ten smashed Jan. 17. (Monique Tamminga)
Glass smashed out of 10 bus shelters in Penticton

One of the bus shelters is right across from the RCMP detachment

This is the location, 3240 Skaha Lake Road, of where BC Housing plans to build a four storey supportive housing project for the homeless and at risk of being homeless. (Jesse Day Western News)
Penticton mayor and MLA concerned about new homeless housing

BC Housing is holding a virtual info meeting Tuesday evening, Jan. 19

Provincial health officer Dr. Bonnie Henry prepares a daily update on the coronavirus pandemic, April 21, 2020. (B.C. Government)
B.C. adjusts COVID-19 vaccine rollout for delivery slowdown

Daily cases decline over weekend, 31 more deaths

Interior Health confirms vaccination of priority populations has begun in Salmon Arm. THE CANADIAN PRESS/Nathan Denette
COVID-19 vaccinations underway in Salmon Arm

Interior Health confirms vaccination of priority populations has begun

Hillview Elementary students Emma Li and Mina Nadeau were awarded by the Premier’s office for winning the annual holiday card contest. (Karen Rogers photo)
North Okanagan students’ art featured on Premier’s cards

Hillview youth chosen for annual holiday card contest

A female prisoner sent Langford police officers a thank-you card after she spent days in their custody. (Twitter/West Shore RCMP)
Woman gives Victoria-area jail 4.5-star review in handwritten card to police after arrest

‘We don’t often get thank you cards from people who stay with us, but this was sure nice to see’: RCMP

An elk got his antlers caught up in a zip line in Youbou over the weekend. (Conservation Officer Service Photo)
Elk rescued from zip line in Youbou on Vancouver Island

Officials urge people to manage items on their property that can hurt animals

An Abbotsford man was killed in a motor vehicle accident on Highway 3 on Monday, Jan. 18. (Black Press file photo)
Abbotsford man killed in Highway 3 crash near Hedley

Fatality was discovered by passing tow truck driver

A Trail man has a lucky tin for a keepsake after it saved him from a stabbing last week. File photo
Small tin in Kootenay man’s jacket pocket saved him from stabbing: RCMP

The man was uninjured thanks to a tin in his jacket

This dog is going to the SPCA if its owner isn't found. (RDNO Dog Control photo)
Owners sought after dog ‘dumped’ near North Okanagan school

Pup is now either getting adopted or going to the SPCA

Tla-o-qui-aht First Nation Chantel Moore, 26, was fatally shot by a police officer during a wellness check in the early morning of June 4, 2020, in Edmundston, N.B. (Facebook)
Frustrated family denied access to B.C. Indigenous woman’s police shooting report

Independent investigation into B.C. woman’s fatal shooting in New Brunswick filed to Crown

Most Read