Drake just officially announced he is a drug dealer!!!
Rapper Drake is trying his hand in the weed business. The Canadian born artist announced that he is investing in a cannabis company. Through his More Life Company Drake is partnering with Cannabis producer Canopy Growth.
In a statement released Thursday Champagne Papi stated. “The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting,” Furthermore he went on to say. “The idea of being able to build something special in an industry that is ever-growing has been inspiring. More Life and More Blessing.”
The “6 God” is the latest celebrity to invest in the Cannabis industry. Canopy Growth has some partnerships with some other big names like Seth Rogen, Snoop Dogg, and Martha Stewart. In his deal, Drake will retain 60% of the company while Canopy will own the other 40%.
Canopy Growth Ceo Mark Zeuklin has this to say about the venture.
“Drake’s perspective as a culture leader and entrepreneur combined with Canopy Growth’s breadth of cannabis knowledge will allow our new company to bring an unmatched cannabis experience to global markets,”
According to Bloomberg celebrity partnerships can help to boost recognition. However such recognition doesn’t always lead to higher sales. Something Canopy is looking to do after a pretty rough year in 2019
The company fired its founder and suffered a 60% drop in shares says an article on Forbes.com. Although the cannabis industry is expected to be the next “internet boom” 2019 hasn’t been a good year overall. In the same article on Forbes, it’s reported that sales and shares are down across the board.
All of this could be attributed to the fact that Cannabis is technically still illegal federally.
As people invest it becomes unclear if they will be later charged with a crime or if the money they make will be seized by government agencies.
As the 2020 election looms near you can be sure the legal weed topic will be a major point!
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