From “Wheat Kings” to “Weed Kings”
Last year, the Tragically Hip became tragically hemp by announcing their partnership with Canadian medical marijuana producer Newstrike. Now, the band are set to take their stake in the company to new heights through backing an acquisition deal.
Newstrike says the band are backing the company’s upcoming acquisition by licensed producer CanniMed Therapeutics Inc. The Globe and Mail reports that the Hip, who are creative partners and shareholders in Newstrike, own a 5.4-percent stake in the company. The band’s share is worth an estimated $39 million.
– Read the entire article at Exclaim News.