Houseplant says Canopy has acquired 25% of the Toronto-based business and invested working capital, but wouldn’t disclose any further financial information. Canopy in its role as venture partner is providing the facilities, expertise, and infrastructure to produce the cannabis.
The company’s first strain, Houseplant Sativa, will make its debut in British Columbia in early April 2019 followed throughout the year by a national rollout of strains like Houseplant Hybrid and Houseplant Indica along with softgels and pre-rolled joints.
Rogen said they have been working on the company “quietly for years” and seeing it come together is a “dream come true.” According to a press release announcing the new cannabis brand, the project has been in development for almost two years.
“We could not be more passionate about this company and are dedicated to doing everything the right way,” he said in an emailed statement. “It is extremely important to us to treat cannabis with the reverence it deserves.”