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The West Virginia songsmith also confirmed that he'd finished tracking for his eagerly awaited third album.
The country stars join a stellar line-up that also includes Luke Bryan, Keith Urban, Ernest and Carly Pearce.
As part of the new hemp collaboration, Price also unveiled a series of Margo Grass merchandise.
The song will appear on the country star's brand new album, Gettin’ Old, which will be released on March 24.
The Oklahoma native's eagerly anticipated collaboration with Maggie Rogers was released on January 27.
The illustrious list of winners was revealed during a ceremony at London's Hackney Empire on Thursday, January 26.