It turns out the rumours were true, Toronto: Drake really is trying his hand at the cannabis industry. 

The rapper announced this morning that he'll be launching a new cannabis wellness company alongside successful cannabis producer Canopy Growth.

Canadian Icons Come Together: Canopy Growth and Drake Launch New Cannabis Wellness Company

Details here: https://t.co/RvNXSPFffw

Here's to #FutureGrowth (and More Life!) pic.twitter.com/KEPlApUHm6

— Canopy Growth (@CanopyGrowth) November 7, 2019

Speculation about the new brand began with mysterious flower deliveries across Toronto and the surfacing of a new Instagram account called @morelife. 

Then, an application to register a trademark for "MORE LIFE GROWTH COMPANY" was filed with the Canadian Intellectual Property Office on October 21.

A similar application was filed by Dream Crew IP with the United States Patent and Trademark Office on October 18.

And now we know for sure.

"When we first began talks with Drake we were extremely inspired by and aligned with his vision to bring best-in-class cannabis products to the world," said Mark Zekulin, CEO of Canopy Growth Corporation, in a statement today.

"Drake’s perspective as a culture leader and entrepreneur combined with Canopy Growth’s breadth of cannabis knowledge will allow our new company to bring an unmatched cannabis experience to global markets."

The deal will see Drake take a 60 per cent stake in the new company, while Canopy Growth will own the remaining 40 per cent.

"All in all, we couldn’t be more excited to partner with Drake to bring his vision for the More Life Growth Company to global cannabis markets," Zekulin said. "We anticipate a long, successful, and mutually beneficial working relationship."

More Life Growth Co, named after Drake's 2017 mixtape, will apparently be "centred around wellness, discovery and overall personal growth with the hope of facilitating connections and shared experiences across the globe."

And while this is far from Drake's first business venture outside the music industry, he's also not the first celebrity to partner with Canopy Growth and enter the world of weed. 

Seth Rogen, Snoop Dogg and Martha Stewart are just some of the Hollywood names who've already partnered with the Canadian cannabis giant.

According to this morning's announcement, more details will be released about the new company in upcoming weeks.

"The opportunity to partner with a world-class company like Canopy Growth on a global scale is really exciting," Drake said in the statement.

"The idea of being able to build something special in an industry that is ever-growing has been inspiring. More Life and More Blessing."