Bruce Linton is currently winning the breakup after getting dumped by Canopy Growth Corp. (TSX: WEED)(NYSE: CGC) in July from the company he co-founded and helped build.
Linton announced Thursday he had taken on the role of executive chairman with American multi-state cannabis company Vireo Health International Inc. (CSE: VREO) (OTCQX: VREOF), adding yet again to his swelling portfolio of new titles.
The renowned cannabis entrepreneur was fired from Canopy in early July, but said he holds no grudges against the company. He even bought more Canopy shares in August to show his support.
Still, getting the boot from your baby and — thanks to a non-compete clause in his termination — being unable to work at another Canadian cannabis company, has got to sting.
But you just can’t keep Bruce Linton down.
Nobody puts Bruce-y in the corner
While Canopy’s stocks have halved in value since Linton’s departure, dropping from USD$41.06 per share July 3 to USD$21.47 today, Linton is doing numbers on his own.
In addition to his new position at Vireo, Linton is a director at medical psychedelic provider Mind Medicine Inc.; special advisor to both CBD-focused animal health company Better Choice Co. and Michigan-based dispensary chain Gage Cannabis USA; and a heavy investor in Slang Worldwide Inc. (CSE: SLNG).
Bruce Linton in New York. Photo courtesy of Canopy Growth.
“I am delighted to be joining Vireo, one of the most exciting cannabis companies in the United States with an impressive medical and scientific team developing the next generation of cannabis products,” Linton said in a statement. “Beyond the attractive collection of strategic assets and intellectual property that [Vireo CEO and founder Kyle Kingsley] has assembled, I have taken this role because I share the company’s ambitious vision for the future of cannabis.”
Vireo is a vertically-integrated company that innovates in the areas of cannabis medicine, engineering and science, and has a physician-led team of more than 400 employees.
“There is no greater endorsement than Bruce Linton joining as Executive Chairman. Bruce’s extraordinary track record in the cannabis industry speaks for itself and I am incredibly excited about the opportunity to work closely with this industry trailblazer,” Kingsley said.
On Thursday after the announcement, Vireo’s stock jumped as much as 48 per cent, from $1.35 to $1.87, but today relaxed to $1.60 a share.
