Martha Stewart's new role as cannabis adviser

Marijuana producer Canopy Growth has roped in lifestyle guru Martha Stewart as an adviser to help develop and launch a line of pot-based products for both humans and animals, it said on Thursday.

Stewart, a 90s icon who became a household name through her cooking and lifestyle shows, co-hosts a show with rapper Snoop Dogg, who made headlines last year for smoking pot in front of the White House.

The deal between Canopy and Sequential Brands Group Inc , which owns the Martha Stewart brand, will seek to leverage Stewart's knowledge of consumer products in the launch of products based on CBD, the non-psychoactive chemical found in marijuana.

Sequential's shares surged 51 percent to $1.81 in early trading.

"I'm especially looking forward to our first collaboration together, which will offer sensible products for people's beloved pets," Stewart said.

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Martha Stewart and Snoop Dogg
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Martha Stewart and Snoop Dogg
LOS ANGELES, CA - MAY 07: Snoop Dogg and Martha Stewart pose in the press room at the 2017 MTV Movie and TV Awards at The Shrine Auditorium on May 7, 2017 in Los Angeles, California. (Photo by JB Lacroix/WireImage)
LOS ANGELES, CA - MAY 07: Snoop Dogg and Martha Stewart pose in the press room at the 2017 MTV Movie and TV Awards at The Shrine Auditorium on May 7, 2017 in Los Angeles, California. (Photo by JB Lacroix/WireImage)
LOS ANGELES, CA - MAY 07: Recording artist Snoop Dogg (L) and TV personality Martha Stewart speak onstage during the 2017 MTV Movie And TV Awards at The Shrine Auditorium on May 7, 2017 in Los Angeles, California. (Photo by Kevin Mazur/WireImage)
THE $100,000 PYRAMID - Airdate: July 10, 2016 - Michael Strahan hosts a new version of the classic game show, THE $100,000 PYRAMID, airing SUNDAYS (9-10PM, ET) on the ABC Television Network on SUNDAYS (9-10pm, ET. Martha Stewart and Snoop Dogg compete for prizes with contestants Meng He and John Williams. (ABC/ Lou Rocco) MARTHA STEWART, SNOOP DOGG
THE $100,000 PYRAMID - Airdate: July 10, 2016 - Michael Strahan hosts a new version of the classic game show, THE $100,000 PYRAMID, airing SUNDAYS (9-10PM, ET) on the ABC Television Network on SUNDAYS (9-10pm, ET. Martha Stewart and Snoop Dogg compete for prizes with contestants Meng He and John Williams. (ABC/ Lou Rocco) MARTHA STEWART, SNOOP DOGG
LOS ANGELES, CA - MARCH 14: TV personality Martha Stewart (L) and rapper Snoop Dogg onstage at The Comedy Central Roast of Justin Bieber at Sony Pictures Studios on March 14, 2015 in Los Angeles, California. The Comedy Central Roast of Justin Bieber will air on March 30, 2015 at 10:00 p.m. ET/PT. (Photo by Kevin Winter/Getty Images)
LOS ANGELES, CA - MARCH 14: Martha Stewart and Snoop Dogg onstage at The Comedy Central Roast of Justin Bieber at Sony Pictures Studios on March 14, 2015 in Los Angeles, California. The Comedy Central Roast of Justin Bieber will air on March 30, 2015 at 10:00 p.m. ET/PT. (Photo by Kevin Winter/Getty Images)
LOS ANGELES, CA - MARCH 14: TV personality Martha Stewart (L) and recording artist Snoop Dogg attend The Comedy Central Roast of Justin Bieber at Sony Pictures Studios on March 14, 2015 in Los Angeles, California. The Comedy Central Roast of Justin Bieber will air on March 30, 2015 at 10:00 p.m. ET/PT. (Photo by Lester Cohen/WireImage)
LOS ANGELES, CA - MARCH 14: (L-R) Recording artist Ludacris, TV personality Martha Stewart and recording artist Snoop Dogg attend The Comedy Central Roast of Justin Bieber at Sony Pictures Studios on March 14, 2015 in Los Angeles, California. (Photo by Kevin Mazur/WireImage)
LOS ANGELES, CA - MARCH 14: TV personality Martha Stewart (L) and recording artist Snoop Dogg attend The Comedy Central Roast of Justin Bieber at Sony Pictures Studios on March 14, 2015 in Los Angeles, California. The Comedy Central Roast of Justin Bieber will air on March 30, 2015 at 10:00 p.m. ET/PT. (Photo by Jeff Kravitz/FilmMagic)
LOS ANGELES, CA - MARCH 14: Rapper Snoop Dogg and TV personality Martha Stewart attend The Comedy Central Roast of Justin Bieber at Sony Pictures Studios on March 14, 2015 in Los Angeles, California. (Photo by Christopher Polk/Getty Images)
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The U.S. Food and Drug Administration has prohibited companies from adding CBD to food, but many drinks companies have announced plans to use it.

Corona beer maker Constellation Brands has signed a deal with Canopy to make various pot-infused drinks.

Cannabis companies in Canada have been pouring cash into their businesses to both fend off competition and develop new products, especially after the country approved the use of recreational marijuana.

Canopy has also announced plans to invest between $100 million and $150 million in a hemp industrial park in New York State. (Reporting by Nivedita Bhattacharjee in Bengaluru; Editing by Sai Sachin Ravikumar and Anil D'Silva)

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