Actor, stand-up comedian, writer, producer and director Seth Rogen has partnered with Canopy Growth Corporation (TSE:WEED) to launch a new cannabis brand in Toronto – Houseplant.
Canopy Growth Corporation said in a statement that “it is pleased to welcome Houseplant, a new brand of Canadian cannabis, to the Canopy Growth family today.”
“Founded by Seth Rogen and Evan Goldberg, Houseplant represents years of product expertise and an unmatched attention to detail within each strain that has been carefully selected and grown,” it continued.
According to Houseplant, Canopy Growth Corporation owns 25% of the business.
“We could not be more excited to partner with Seth, Evan and the entire Houseplant team. Together we will make Houseplant a cannabis brand synonymous with quality everywhere it is available,” Mark Zekulin, President and Co-CEO of Canopy Growth Corporation commented.
The 36-year-old Pineapple Express star is not the only celebrity active in the cannabis industry. Snoop Dogg, who recently invested in a Swedish fintech start-up, has a venture capital firm named Casa Verde. It is best known for adding cannabis companies to its portfolio.
As countries around the word begin to change their perception of, and policies regarding, the drug, cannabis is emerging as one of the hottest sectors to invest in.
In Canada, where Seth Rogan’s Houseplant will be based, the use of medical cannabis has been permitted since 1999. As for the United States, cannabis for medical reasons is legalised in 29 states.
Over in Europe, countries have begun decriminalising usage of the drug for recreational purposes, but it is still illegal in the UK for recreation use. Medically speaking, however, the British government has begun making certain exemptions that allow specialist GPs to prescribe cannabis.
At 16:00 GMT -4 yesterday, shares in Canopy Growth Corporation (TSE:WEED) were trading at -3.75%.