Actor and comedian Seth Rogen and his writing partner Evan Goldberg announced the launch of their Canadian adult-use cannabis cultivation brand, Houseplant, in collaboration with Canopy Growth (TSX: WEED) (NYSE: CGC).
Under the agreement, Canopy owns a minority stake in Houseplant and will help the company scale while providing production and distribution support.
Rogen and Goldberg, both born and raised in Canada, have co-written several screenplays together, including the wildly popular "Superbad" and cannabis-focused "Pineapple Express."
Why It Matters
The collaboration adds another brand to Canopy's portfolio, following Martha Stewart's additon earlier this year. For Houseplant, the partnership allows the Canadian co-founders to enter their country's legal market.
The Cannabis Capital Conference returns to Toronto April 17-18!
"We are so proud to be launching in Canada, our home," Goldberg said in a press release. "After spending five years diligently preparing for the launch of this company, we're excited to be able to share our passion for cannabis with Canadians in this way."
Mark Zekulin, president and co-CEO of Canopy Growth laid out expectations for the collaboration: "We could not be more excited to partner with them and work towards our shared goal of making Houseplant one of the largest cannabis brands in the world."
The company's first strain, Houseplant Sativa, is slated for an early April release in provincially regulated retailers and online in British Columbia. Houseplant has two additional strains, Houseplant Hybrid and Houseplant Indica, scheduled for release later in the year.
In addition to cannabis flower, the company plans to offer softgels and pre-rolled joints across Canada.
Canopy Growth's stock traded at $43.73 per share at time of publication.
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Photo credit: Gage Skidmore, Flickr
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