Drake joins growing list of celebrities getting into the weed business

Drake is taking his talents, and money, to the cannabis industry.

The rapper recently announced he is collaborating with Toronto-based cannabis company Canopy Growth Corporation to develop and launch his own brand, More Life Growth Company. Through this new venture, Drake will produce his own line of weed and wellness products.

“The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting,” Drake said in a statement. “The idea of being able to build something special in an industry that is ever-growing has been inspiring.”

READ MORE: Bulleit Bourbon unveils limited-edition 3D printed sneakers with artist Kyle Steed

According to Bloomberg, More Life Growth Co. will be 60 percent owned by Drake and 40 percent owned by Canopy. Additionally, the company can nominate two directors to the brand's board and has the right to maintain its ownership in the company. Drake joins the likes of Martha Stewart, Snoop Dogg and Seth Rogan in working with the biggest cannabis company in the world.

The official release date of the new line has not been announced yet.