Drake ventures into Marijuana business

Drake ventures into Marijuana business


Drake

Popular Canadian rapper, Drake has signed up with his country’s biggest cannabis producers to launch a fully-licensed joint venture to produce and distribute marijuana.

The move is also to promote ‘More Life Growth Company’, his new firm, which appears to be named after his 2017 project ‘More Life’.

On Tuesday, the singer took to his Instagram page to exhibit his newest endeavor with a video featuring the phrase “Welcome to More Life Growth Co.” rotating in front of what appears to be a futuristic greenhouse.

On Thursday, Drake signed up with the biggest of Canada’s new brand of marijuana producers to launch a fully-licensed joint venture in the city.

“Under the deal, the multi-Grammy award winner will take a 60% stake in a subsidiary of stock-market listed Canopy Growth (WEED.TO), which produces cannabis in nearby Scarborough, Ontario,” the news outlet wrote.

“U.S.-listed shares of Canopy (CGC.N), which last year drew a major investment from Corona-brewer Constellation Brands, rose around 3% in early trading.”

According to reports, the  company will focus on providing “cannabis products and herbs, medicinal herb extracts, herbal tea, rolling papers, dried plants as well as other merch and apparel.”

Drake’s is not the first celebrity who would be making an incursion into the weed industry. TheNewsGuru recalls that Post Malone, an American rapper, had previously launched a marijuana company named Shaboink while Snoop Dogg, his colleague, also collaborated with Canopy through a unit called Tweed.

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