Imagine two international icons coming together to create a cannabis wellness company! Drake is one of the most important and acclaimed artists in the world today, considered the most influential hip-hop artist of this decade. Canopy Growth is the most important cannabis company in the world, a planetary cannabis icon. Both the rapper and the corporation are Canadian and have announced that they will launch the More Life Growth Company (™), which will be based in Toronto, the artist's hometown.
Canopy Growth Corporation is a diverse company of cannabis, hemp and paraphernalia for cannabis, a world leader which features selected brands and curated cannabis varieties, in dried, oil, and Softgel capsule forms. This brand is available in more than a dozen countries on five continents and is driven by a "passion for leadership and commitment to building a world-class company in the cannabis sector with each product, each plant and each country."
Rapper Snoop Dog, businesswoman and guru Martha Stewart ... and now Drake! Canopy Growth is very clear who the most influential people in the world to do business with are and intends to count on them for business purposes – you know, this type of commercial connection in which everyone’s a winner. If the Californian rapper manages Tweed and the so-called lady of American capitalism is the consultant for a line of marijuana-based products for people and animals, Drake will be part of the new Canopy Growth project, a joint venture with a full licence to produce and distribute cannabis.
More Life Growth Company
"A company focused on the welfare, discovery and personal growth in general of its users": this is the official public definition we have of More Life Growth Company (™), the company of Drake and Canopy Growth. Drake dares across all cultural sectors and has launched numerous successful brands during the last decade in areas such as television, film, fashion and, logically, music. Canopy Growth is a publicly traded cannabis producer and is one of the giants of the global cannabis business.
An Epic Association
According to Mark Zekulin, CEO of Canopy Growth Corporation, “Drake's perspective as a cultural leader and entrepreneur, combined with Canopy Growth’s breadth of cannabis knowledge, will allow our new company bring an unmatched experience of cannabis to global markets.” For his part, the rapper has declared that it is an opportunity for him to partner with a world-renowned company such as Canopy Growth, so appealing on a global scale, and has confessed that the idea of being able to develop something special in a growing sector is very motivating.
“We couldn't be more excited to partner with Drake to inject his vision into More Life Growth Company (™) and the international cannabis markets. We anticipate a working relationship that will be lasting, successful and mutually beneficial,” said Zekulin. A great market strategy: make use of a musical icon to reach the younger generations.
How Obligations are Distributed
How are responsibilities divided up here? According to an official press release from the Canadian company, Drake holds a 60% stake in More Life Growth Company (™) while Canopy Growth handles the remaining 40%. This joint venture will have a licence from Health Canada for the cultivation, processing and sale of cannabis at the Canopy plant, located in Scarborough, Ontario (More Life Facility). Daily operations and maintenance will be carried out by Canopy Growth, which will retain all distribution rights for the cultivated product.
Drake grants More Life Growth Company the right to exclusively exploit certain intellectual property and certain brands associated with the growth, processing, production, marketing and sale of cannabis and accessory products, promotional merchandise and cannabis-related paraphernalia in Canada and the rest of the world.
According to the press release, “Canopy Growth and Drake have signed a shareholders’ agreement, various investor rights agreements and other complementary agreements in order to regulate the operations of More Life Growth Company. In addition to what is stipulated in these documents, Canopy Growth has the right to nominate two people to the board of directors of More Life Growth Company, and the pre-emptive right to maintain its ownership interest in More Life Growth Company.”