Bruce Linton Archives - Green Market Report

Debra BorchardtJune 8, 2020
Vireo.jpg?fit=860%2C484&ssl=1

3min9420

Physician-led, science-focused, multi-state cannabis company Vireo Health International, Inc. (OTCQX: VREOF) said that it has elected to terminate its employment agreement with Bruce Linton as Executive Chairman, on an entirely without-cause basis, effective immediately.

“We wish Bruce well in his future endeavors,” said Kyle Kingsley, M.D., Chief Executive Officer & Founder of Vireo. “Our organization will remain focused on executing a strategy which benefits all stakeholders and developing our core medical markets of ArizonaMarylandMinnesotaNew MexicoNew York, and Pennsylvania.” At this time, the company does not expect to fill the role of Executive Chairman.

“I like the company and pushed it hard, obviously a little too hard for everyone’s enjoyment,” Linton said on Monday. “I’m not everyone’s favorite flavor. If I invest and bring people’s money along I’m a pretty demanding guy.”

Linton is best known as the former CEO of Canopy Growth, which garnered one of the largest mainstream company investments from Constellation Brands (NYSE:STZ). Although much of that value has since been written off by Constellation after it accepted Linton’s resignation. Linton is also CEO of Collective Growth, a special purpose acquisition company that raised $150 million and has plans to list on the NASDAQ. He tapped Canopy’s former CFO to be a part of the SPAC.

“It says we can’t tell you what we’re going to do with the money cause we don’t know,” Linton said to Yahoo Finance, “but if you give it to us, we have a great management team and we think we can find some really great targets.” In regards to why he chose a name so similar to the company he co-founded and was fired from, Linton laughed. “You got to have a little fun with things,” he said.

Mr. Linton joined Vireo in November of 2019. His current term on the Board of Directors expires at the Company’s July 15, 2020, Annual General Meeting of shareholders. The incentive warrants previously issued to Mr. Linton with a November 7, 2024 expiration date will now vest with a modified expiration date of June 8, 2021.


William SumnerJune 20, 2019
Acreage2.png?fit=1000%2C562&ssl=1

3min17750

After weeks of speculation, it is official. Canopy Growth Corp. (NYSE: CGC) has announced that the company’s shareholders have voted overwhelmingly in favor of acquiring Acreage Holdings, Inc. (OTCMKTS: ACRGF).

Although the deal was announced last April, certain shareholders in recent weeks had suggested that the company may not have enough votes to approve the acquisition. With approval from approximately 99% of Canopy shareholders, those suggestions proved to be incorrect.

“On behalf of Canopy Growth, I thank the shareholders of both companies for their vote of confidence in this historic transaction,” said Bruce Linton, Chairman and Co-CEO of Canopy Growth. “Completion of the Transaction is intended to position us to efficiently and effectively enter the US cannabis market once federally permissible. Alongside our international market strategies and US Hemp strategy, we believe the acquisition of Acreage will be a key step in bolstering our position as a truly global company.”

Valued at $3.4 billion, the acquisition represents one of the largest in cannabis history. However, the deal is not yet done. The acquisition still needs to be approved by the Supreme Court of British Columbia and the deal will not take effect until the United States federally legalizes adult-use cannabis.

Once the deal is consummated, Acreage shareholders will receive a payment of $300 million or approximately $2.55 per Acreage Subordinate Voting Share. Holders of subordinate voting shares of Acreage will also receive 0.5818 of a common share of Canopy Growth stock for each Acreage subordinate voting share held at the time of closing of the transaction.

Altogether, Acreage shareholders will hold approximately 12.1% ownership in Canopy Growth (on a pro forma basis) and up to 16.6% if permitted acquisitions are completed prior to the Trigger Event. At this time, it is unclear whether Acreage’s more famous directors such former Speaker John Boehner, former Canadian Prime Minister Brian Mulroney and former Massachusetts Governor and current Presidential candidate Bill Weld will sit on the new board.


Don't Miss This Week's Groundbreaking News

Join the thousands of subscribers who stay informed with GMR's exclusive news briefs delivered directly to your inbox every Friday afternoon.

We respect your privacy. See our privacy policy.


About Us

The Green Market Report focuses on the financial news of the rapidly growing cannabis industry. Our target approach filters out the daily noise and does a deep dive into the financial, business and economic side of the cannabis industry. Our team is cultivating the industry’s critical news into one source and providing open source insights and data analysis


READ MORE



Recent Tweets

@GreenMarketRpt – 8 hours

Are you ready for your ?? August 2, 2021

@GreenMarketRpt – 15 hours

$MNFSF released its earnings after the market closed on Friday. revenue falls, litigation continues,…

Back to Top