The Tragically Hip buy into the medical cannabis market
Many Canadian musicians have flocked to the craft beer market to get their names splashed across IPAs from sea to shining sea, but the Tragically Hip have gone one step further announcing on the band's website a bold new partnership with a Canadian medical marijuana company.
"The company is called Newstrike and, after much discussion and assessment on our part, we've decided that this company — and the many creative people in it — are a perfect fit for The Hip," the band's statement read. "Medicinal cannabis is legal in Canada, and it already greatly benefits the health and well being of many of our fellow Canadians."
Newstrike, a publicly traded company based in Brantford, Ont, is one of 45 licensed producers of medical cannabis in the country.
"The members of the Tragically Hip are known to a generation of Canadians as artists that have never wavered in their commitment to quality and integrity," said Newstrike CEO Jay Wilgar in a news release. "As investors, they will apply those same principles to Newstrike. I am proud, humbled and honoured that they chose to partner with and invest in us."
The news release goes on to state that the band will be "active stakeholders in the evolution of the company," according to Newstrike spokesperson Allan Rewak that definitely does not mean an "Ahead by a Century," marijuana strain.
"They are significant investors, one of the largest, not the largest, and they believe in us and our plan and that drew them to us," said Rewak, who explained that the band will have a hand in planning, development and the strategic direction of the company. "They have no interest in being our Joe Camel, and that's just fine as we are not interested in them being that.