Drake's More Life Growth Co. Cannabis Venture Burns Out
Canopy Growth has terminated the partnership
Published Jun 03, 2021After it was reported last year that Drake's joint venture with Canopy Growth was "not been progressing as originally intended," it has now been confirmed that the Canadian's More Life Growth Co. has gone up in smoke.
BNN Bloomberg reports that Canopy officially terminated the partnership in March, per the company's regulatory filings.
"We have indeed divested from More Life and the facility in Scarborough, which had been intended to be part of that agreement is now Canopy Growth's R&D facility, where we will work on plant science and science development projects," Canopy director of communications Jennifer White told BNN Bloomberg.
Canopy and Drake announced the partnership in November 2019. The artist owned a 60 percent stake in the subsidiary More Life Growth Co., while Canopy owned the remaining 40 percent. At the time, the venture was said to focus on "wellness, discovery and overall personal growth."
Last August, Canopy chief executive officer David Klein shared with BNN Bloomberg that the company was "still working on details to determine where [More Life Growth] goes," adding, "It may be something that can't get to where we all want it to go."
Drake was recently "Seeing Green" on a new single from Nicki Minaj. His forthcoming album Certified Lover Boy has yet to receive a release date.