As more and more famous folks get into the cannabis industry, rapper Drake has severed ties with Canopy Growth, whom he previously partnered with through his own marijuana business, More Life Growth Company.
According to reports, Canopy Growth said via email that it ended its relationship with Drizzy. From Bloomberg:
“We have indeed divested from More Life and the facility in Scarborough which had been intended to be part of that agreement is now Canopy Growth’s R&D facility, where we will work on plant science and science development projects,” Jennifer White, director of communications at Canopy Growth, said in an emailed statement to BNN Bloomberg. In the filing, the company said it took a C$10.3 million ($8.6 million) impairment charge on the venture in the fiscal fourth quarter ended March 31. Canopy said it also “derecognized the remaining minimum royalty obligations owing to More Life” of about C$33.7 million.
Bloomberg states a rep for Drake wasn’t immediately available for comment, but hopefully we’ll hear from him soon. In the meantime, he’s busy being a music superstar and a dad to his adorable son Adonis. Stay tuned!