Drake and Canopy Growth announced the end of their partnership. Beginning as recently as November of 2019, the two’s separation comes without much direct explanation as to why.
Drake’s not the only celebrity involved with Canopy Growth. They’re still keeping ties with Seth Rogan, Martha Stewart and Snoop Dogg, among others. We’ll talk more about that later, though.
More Life Growth, the partnership’s brand was set to process and sell marijuana to Canadian markets. The initial agreement between Drake and Canopy granted a 60:40 ownership respectively, labelling Drake as the founder. Regardless, both parties agreed to the contract’s termination.
What we do know about More Life’s circumstance are some details on its finances. According to Ganjapreneur, Canopy Growth lost more than C$10 million during the deal. They will be reclaiming the Scarborough facility where More Life was based.
Furthermore, by terminating the contract Canopy has nullified over C$30 million in royalties paid to More Life Growth. This is pretty heavy stuff, even for a multi-million dollar cannabis corporation. It makes you wonder where this went “wrong.”
More Life No More
There’s not a lot of professional content you can find about the actual quality of More Life’s business. The project was announced almost two years ago now and was met with mixed feedback. Fast forward since then and we are just hearing about the company again on a viral level; except now, it’s about More Life’s dissemination. We’re not going to say we told you so but…
A big obstacle to this is the fact that it is not easy to access More Life’s website and Instagram. The first thing you see on morelifegrowthco.com is a quote by Lao Tzu and then a prompt demanding your first and last name with an email. The whole air of the design seems quite arrogant, though this could just be how they mask a (now forever) unfinished website. Either way, not a great presentation. As for their Instagram account, it’s private.
As mentioned earlier, Canopy Growth is no stranger to this kind of partnership. On top of this, they have a stack of brands, including Tweed, TokyoSmoke, and Biosteel. Their CBD gummies are created by Martha Stewart, even tested by her.
More About Canopy Growth Corporation
Canopy is working on normalizing cannabis in culture, and they show no signs of slowing down. This is representative of the corporation’s goal of becoming a global name for consumer packaged goods (CPG), except with cannabis and hemp. The partnership with Drake, for instance, represents one of multiple aimed at normalizing the idea of their products within different regions and demographics.
In 2019, David Klein became the new CEO for Canopy Growth, and immediately started taking the business in a broader direction. What was originally a Canadian medical cannabis company has ever since cast its gaze upon a much greater objective. Klein is certain this is not just ideal, but essential to Canopy’s success.
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