In 2019, Drake announced the launch of his cannabis company, More Life Growth Company. Today, a little over 18 months since, Bloomberg reports that More Life’s partnership with Canadian cannabis producer Canopy Growth Corp. to distribute in global markets has ended. Canopy filed to terminate the partnership in March this year. The company reportedly “derecognized” almost C$33.7 million in remaining minimum royalty obligations to More Life. Although both parties expressed excitement at the partnership in 2019, somewhere in the past year, it would appear those feelings cooled.
BlogTO, a free afternoon newspaper in Toronto, reported that Canopy’s CEO David Klein expressed discontent with the lack of attention to the brand from Drake, who was splitting his time between recording his new album Certified Lover Boy and running a pro-am basketball tournament out of his house (which may have resulted in him reinjuring his knee, causing the CLB release to be pushed back). “[More Life] has not been progressing as originally intended and we’re still working on details to determine where it goes… [and] it may be something that can’t get to where we all want it to go,” Klein was quoted in BNN Bloomberg.
Klein also wasn’t impressed with More Life’s business plan, noting 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.” He would know: Canopy is also the business partner for both Seth Rogen and Snoop Dogg‘s weed brands. Meanwhile, the market gets more and more crowded by the day, with Jay-Z, G-Eazy, Ice Cube, and Russ all jumping in the marijuana game in the past few months. Drake’s property was apparently a low enough priority without planning to compete in destination spots, which would have looked cool, but likely struggled to sell. This leaves Drake on the outside looking in for now, as many of his peers and contemporaries look to cash in on the lucrative cash crop.
