Canopy Growth teaming up with Drake on new cannabis venture More Life Growth Co.

TORONTO — 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.

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

Just Posted

Olds College released non-native wasp that kills lily beetles

Lily growers in central and southern Alberta know of the destruction lily… Continue reading

Red Deer family relieved that Lebanese relatives are safe after explosion

Lebanese relatives live 45 minutes from blast and said it felt like an earthquake

Heat warning issued for Red Deer and region

A heat warning is in effect for Red Deer and much of… Continue reading

Red Deer tailor sets up a factory to begin producing PPE for health care and industry workers

Esmat Bayat is glad to give back to the country that sheltered him as a refugee

August most popular month for vehicle thefts, RCMP warn

10,000 vehicles stolen in Alberta last year

Protestors for Indigenous Lives Matter gather in Wetaskiwin

Protestors gathered along 56 St Wetaskiwin, Alta. August 4, 2020 for Indigenous Lives Matter.

Trump relying on October Surprise

An October Surprise in the United States is now almost inevitable, because… Continue reading

Lebanese confront devastation after massive Beirut explosion

BEIRUT — Residents of Beirut confronted a scene of utter devastation Wednesday,… Continue reading

David Marsden: Back-to-school plan makes sense

Albertans are wise to propose ways to improve students’ return to classrooms… Continue reading

Michael Dawe: 1971’s destructive hailstorm shattered a great summer

Alberta has been experiencing some interesting summer weather this year. Generally, there… Continue reading

Pete Hamill, legendary New York columnist, has died

NEW YORK — Pete Hamill, the self-taught, street-wise newspaper columnist whose love… Continue reading

Disney to release ‘Mulan’ on streaming service, for a price

“Mulan” is no longer headed for a major theatrical release. The Walt… Continue reading

Wall Street opens higher, following gains in overseas stocks

NEW YORK — Stocks are opening solidly higher on Wall Street, following… Continue reading

The Latest: Norway offers $2.74 and medical aid to Lebanon

BEIRUT — The Latest on the explosion in Beirut (all times local):… Continue reading

Most Read