Superstar rapper, Drake, has just signed a deal with Canopy Growth that entitles him to a 60% ownership share in More Life Growth Company, a Toronto based recreational cannabis producer. Drake joins the ranks of Canopy’s celebrity team, including Martha Stewart, Seth Rogan, and Snoop Dogg, which will likely have a positive impact on the company’s struggling stock prices.
In a news release, Drake stated, “The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting. The idea of being able to build something special in an industry that is ever growing has been inspiring. More Life and More Blessing.”
Photo sourced from Brew Bound
A Unique Opportunity
Drake has been given a unique opportunity to circumvent Canada’s strict cannabis marketing laws and use his platform as a famous rapper to promote his brand.
The current Health Canada regulations forbid depiction of “a person, character or animal, whether real or fictional,” as well as branding that evokes “positive or negative emotion about or image of, a way of life such as one that includes glamour, recreation, excitement, vitality, risk or daring.” Basically, celebrities cannot use their position as a brand spokesperson to promote cannabis brands or glamorize the use of cannabis.
As Drake is a 60% owner of the company, and technically not a spokesperson for the brand, he can use his celebrity status on platforms such as Instagram and Twitter to promote More Life Growth Company without violating Health Canada’s regulations.
Drake Branded Cannabis: Will It Sell?
Only time will tell whether Drake has enough celebrity status to influence the future of Canopy Growth and the More Life brand. Depending on his success in this venture, more celebrities may consider purchasing ownership in existing cannabis brands to boost sales and use their influence over consumers.