You may recall that back in 2017, members of the Tragically Hip announced a business partnership with Canadian medical marijuana producer Newstrike.
And thanks to a possible acquisition deal that should see Newstrike merge with licensed producer CanniMed Therapeutics, the Tragically Hip are about to make some money. A lot of money.
The Hip are labelled as creative partners and shareholders in Newstrike, and apparently own a 5.4% stake…which is estimated to be worth $39 million. Speaking on the deal, guitarist Rob Baker said the merger “will create shareholder value and a formidable force in the Canadian cannabis market for many decades to come.”