Vireo Health International, a marijuana firm with its presence in numerous states, recently announced the appointment of Canopy Growth’s Ex-Leader Bruce Linton. The firm states that its key motive behind this move is to boost its expansion efforts on a national level. The firm’s latest step to hire one of the significant names in the cannabis industry grabs the attention of its numerous shareholders and executives across the nation. They will keep an eye on this decision if it turns out to be successful.
The firm announced that Linton will be serving as its Executive Chair. A news release from Vireo highlights that Linton will lead the firm’s capital markets activity, strategic decision-making, and upcoming collaborations. Vireo’s CEO Kyle Kingsley stated that he immediately contacted Linton as the news of the latter’s unexpected dismissal from Canopy was revealed. The meeting was held in Ontario promptly thereafter. Kingsley added that he is interested to utilize Linton’s proficiency in M&A and capital markets. While Linton stated, “It was a substantial day,” his appointment by Vireo achieved a green signal from the shareholders as well.
On a similar note, a Canadian TV and music star Drake is entering into the marijuana industry. Recently, Canopy Growth and Drake have teamed up for the introduction of the latest cannabis producer named More Life Growth Company. Reportedly, Toronto is the headquarter of the latest business. In this partnership, Drake is supposed to hold More Life’s ownership of approximately 60% and Canopy Growth will have the remaining 40% part. In a press release, Canopy Growth announced the latest agreement. The firm stated that Health Canada has awarded More Life a license to produce, process, and sell cannabis. All these activities will be carried out from the firm’s plant in the Toronto suburb of Scarborough. Moreover, the firm stated that the maintenance and management of this plant will be done by Canopy. Similarly, all rights for the distribution of cannabis cultivated in this facility will be held by Canopy.