07/16/2015 09:15 EDT | Updated 07/16/2016 05:59 EDT

2015 Polaris Prize: Buffy Sainte-Marie, Drake make short list

A diverse short list – including Canadian music icon Buffy Sainte-Marie and hip hop star Drake – was unveiled for the 2015 Polaris Prize, with the contenders announced this morning by children's entertainer Fred Penner in Toronto. 

Each year, the prize is awarded to the artist or band that creates the best Canadian full-length album, regardless of genre, label or sales.

Wednesday's 10 finalists were whittled down from the 40 longlisted nominees announced in June. 

As usual, the list of finalists reflects much diversity, with the first-time nominees including 74-year-old Sainte-Marie as well as Calgary post-punk band Viet Cong.

The 2015 finalists are:

- Toronto's BADBADNOTGOOD & Ghostface Killah for Sour Soul.

- Montreal's Braids for Deep In The Iris.

- Dundas, Ontario's Caribou for Our Love.

- Toronto-based Alvvays for Alvvays.

- Ontario's Caribou for Our Love.

- Toronto-based Jennifer Castle for Pink City.

- Toronto's Drake for If You're Reading This It's Too Late.

- Vancouver's Tobias Jesso Jr. for Goon.

- Vancouver's The New Pornographers for Brill Bruisers.

- Buffy Sainte-Marie for Power In The Blood.

- Calgary's Viet Cong for Viet Cong.

Chosen by an 11-member jury of Canadian music journalists, broadcasters and bloggers, the winner will take home a new, larger cash prize of $50,000, from the previous year's $30,000.

The nine runners-up will each receive $3,000.

The finalists will be celebrated and the winner announced at a gala in Toronto on Sept. 21.