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Jonathan Sherman & Len Glickman Discuss Drake’s New Cannabis Venture with Canopy Growth

11/08/2019

Jonathan Sherman and Len Glickman have been quoted in a Canadian Press article titled “Drake Launches More Life Growth, A Cannabis Production Company,” published by The Globe & Mail, City News, CP24, and Huffington Post.

Writes David Friend: “[Drake] has signed an investment partnership to launch More Life Growth Co., a licensed cannabis producer that’ll be based in his hometown. The deal, struck with Canopy Growth Corp., gives Drake a 60 percent stake in the More Life Growth company, while Canopy Growth will hold the remaining 40 percent. It’s the latest in a string of investment partnerships launched by Canopy Growth with some of the biggest names in entertainment.”

Jonathan says Drake’s controlling stake makes it an exceptional transaction: “This is the only time you’ve seen a deal be done with a celebrity like this, where Drake, through a bunch of his corporations, owns the majority stake in a company that holds a licence issued by Health Canada.″

But that doesn’t mean Drake’s or his popular OVO clothing brand will be splashed across cannabis packaging, pipes or hookahs. Celebrity endorsements are prohibited under Canada’s cannabis regulations, which means any references to their business connection can’t be explicit.

Says Len: ““It’s not an OVO brand play, it’s not a Drake brand play, the purpose of this company is to develop, promote and sell ‘More Life Growth’-branded products. What you’re not going to see is Drake’s face or name promoting any of those goods or services.″

Read the full article here.

Cassels represented Canopy Growth on this transaction.

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