Canadian rapper Drake has collaborated with spirits producer and entrepreneur Brent Hocking to file an initial public offering (IPO) to raise $30m for new project Virginia Black.

Expected to begin from Q1 2018, the funds will be used for domestic and international expansion, as well as for working capital.

Virginia Black founder and CEO Brent Hocking said: “Virginia Black is the perfect combination of exceptionally good juice in exquisite packaging at an accessible price.

“From inception, we wanted everyone to enjoy Virginia Black and are pleased to extend the opportunity to millions of Americans and other investors around the world to become part of the Virginia Black family.”

“The funds will be used for domestic and international expansion, as well as for working capital.”

Launched in May 2016, Virginia Black is an aged Bourbon whiskey with high-rye content.

Virginia Black is currently distributed by Proximo Spirits and is available in 45 states in the US, as well as in countries such as the UK, Burundi, Ghana, Ireland, Kenya, Rwanda, Tanzania, Uganda, the United Arab Emirates (UAE), Zanzibar and Canada.

TriPoint CEO Mark Elenowitz said: “I am thrilled that Virginia Black is embarking on this offering. TriPoint has been a pioneer and leader in IPOs for years and has developed a methodology that allows issuers and brands to reach a large audience of both investors and customers.

“Virginia Black leads us into exciting new territory where Main Street meets Wall Street, giving millions of fans worldwide the opportunity to be a part of Drake’s success.”

TriPoint Global Equities and its online division BANQ will serve as the lead managing selling agent and bookrunner for the offering.