Published Aug 11, 2020Last November, Drake announced plans to enter the legal cannabis industry with More Life Growth Co., a joint venture with Canopy Growth centred on "wellness, discovery and overall personal growth." But between scented candles and songs with DJ Khaled, the artist's foray into the cannabiz appears to be stuck in the weeds.
In conversation with BNN Bloomberg, Canopy chief executive officer David Klein indicated that the team-up has "not been progressing as originally intended," with the site reporting that he remains focused on "restructuring the pot giant's costs and on pursuing more promising ventures."
As previously reported, the partnership finds Drake owning a 60 percent stake in More Life Growth, while Canopy owns the remaining 40 percent. BNN Bloomberg adds that the deal included use of Canopy's production facility in Scarborough, which More Life would operate and maintain.
"I would say that [More Life] has not been progressing as originally intended and we're still working on details to determine where it goes," Klein told BNN Bloomberg, adding, "It may be something that can't get to where we all want it to go."
Klein teased that "In many regards, at its essence, it's almost a real estate play where More Life is going to do a lot of activity on cannabis destinations. I don't know if that still fits anybody's way of thinking, at least in the COVID world."
It had previously been reported that Drake and his team applied to trademark the More Life Growth name, and use it on cannabis-related products and brand merchandise.
"I wouldn't say it would be dropped entirely, but it might change," Klein clarified. "When I looked at the IP that Canopy has on its plate, I will admit that More Life was pretty far down the list of things to get to. Make no mistake about it, we love Drake, [but] we're still trying to figure out a business venture that makes sense for everybody."
More Life Growth's Instagram page remains locked, and teases that it's "coming soon." Drake recently appeared on a new mixtape from Popcaan.