Drake goes into business with Canadian cannabis firm
On Thursday, Aubrey Drake Graham, best known as hip-hop artist Drake, partnered with Canadian cannabis giant Canopy Growth to launch the More Life Growth Company cannabis producer in Graham's hometown of Toronto. Drake joins a surging wave of celebrities who have aligned themselves with the cannabis industry by selling products, joining corporate boards, or, in this case, creating a joint venture business. It made perfect sense that Snoop Dogg, actor Seth Rogen and even Snoop's pal Martha Stewart were venturing into the cannabis industry. Drake's arrangement with Canopy Growth does stand apart from most of the celebrity cannabis deals, which are mostly endorsements, minority investments or advisory roles. "Canadian cannabis brand development is difficult with restrictions specifically prohibiting utilizing celebrity names, and we believe Canopy is ceding a cash flow positive asset."