Published on January 12th, 2018 | by Alan Cross0
The Tragically Hip are Now Marijuana Millionaires
Every music career has a best-before date. Smart artists ensure that they have long-term financial plans in place so that they and their families will be okay when the lights fade for good.
The Tragically Hip is one of those artists. Recognizing that legal cannabis was going to be a big industry in this country, the Hip made some investments in two consumer pot companies: Newstrife Resources Ltd. (they and their management have a 5.4% ownership stake and now has a valuation of $1.1 billion; the company’s stock symbol is HIP. Really.) and medical marijuana producer CanniMed Therapeutics Inc.
Part of the Hip’s strategy is to somehow use their image and music to promote their pot company interests. How they’ll actually do that is still in the planning stages, but might include using song titles for names of strains or other products. (I could have gone for a punny headline using song titles like “Blow at High Dough,” “Weed Kings,” “Fiddler’s Green” or something similar but I’ll leave that to the marketing departments.)
The Hip has no issues about getting into the cannabis business. They believe in responsible use. Besides, they already sell wine. It’s just a matter of time before Canadians will be able to buy legal Hip-branded bud.
Read more at the Globe and Mail.