Bruce Linton is ready for his return to full-time cannabis operations.

Vireo Health International (CSE:VREO,OTCQX:VREOF), a multi-state operator (MSO) of US cannabis assets, announced on Thursday (November 7) the appointment of Linton as its new executive chairman.

Linton served as the co-founder and CEO of Canopy Growth (NYSE:CGC,TSX:WEED), the biggest public marijuana firm, until he was dismissed in July.

Kyle Kingsley, CEO and founder of Vireo, said there isn’t a more significant endorsement of his company than that of Linton joining.

“We are confident Vireo can become a top US producer and distributor of high-margin, proprietary products within the next several years and create unprecedented long-term shareholder value,” Linton said in a statement.

The former Canopy leader was dismissed from his role after the company posted growing losses, which alarmed Canopy’s largest investor — alcohol-maker Constellation Brands (NYSE:STZ).

In addition to acting as executive chairman, Linton will “spearhead the company’s strategic decision-making, capital markets activity and future partnerships” alongside Kingsley.

Shares of the MSO jumped at the start of Thursday’s trading session based on the premium appointment. As of 10:31 a.m. EST, the company was up almost 32 percent for a share price of C$1.78.

stock chart vireo health

Linton will obtain his payments by way of three tranches of incentive warrants, which will give him 15 million subordinate voting shares in Vireo.

The first tranche will carry an exercise price of US$1.02 and carry 10 million incentive warrants. The next portion will produce 2.5 million similar warrants for a cost of US$3.81. Finally, the third tranche will give 2.5 million warrants at a price of US$5.86.

This isn’t the first time Linton has made an appearance in the public spotlight to support a company since his departure at Canopy Growth. In September, Linton was named special advisor for Better Choice Company (OTCQB:BTTR), a cannabidiol (CBD) company in the US.

Additionally, Linton has secured advisory roles with Gage Cannabis and Mind Medicine as an executive chairman and director, respectively.

“I’m fairly confident that the individual state-based markets are going to be very meaningful for quite some time, at least the next three to five years, independent of the STATES Act being passed,” Kingsley previously told the Investing News Network at an investor event in Toronto earlier this year.

Vireo reached the public markets in March, emphasizing a science-focused approach to its operations.

Don’t forget to follow us @INN_Cannabis for real-time news updates!

Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.

Fundraising, Subscription by Directors and Love Hemp Q1 Trading Update

World High Life Plc (“World High Life” or the “Company”) (AQSE:LIFE) (OTCQB:WRHLF) announces that it has raised £566,206 via the issue of 56,620,600 ordinary shares of 1 pence each in the Company (“Ordinary Shares”; the “Subscription Shares”) at a subscription price of 1.0p per share. The proceeds of the Subscription Shares will be used by the Company for general working capital purposes

Keep reading... Show less

Global Wellness Strategies Inc. (formerly Redfund Capital Corp.) (CSE: LOAN) (FSE: O3X4) (OTCQB: PNNRD) (“Global” or the “Company”) announces it has signed a binding letter of intent (“BLOI”) on January 22, 2021 with EntheoTech Bioscience Inc. (“ET”) a wellness psilocybin leader based in Kelowna, British Columbia and will have the option to earn up to a 19.9% interest in ET.

EntheoTech is a Canadian bioscience company focused on the research and development of products, and protocols to promote brain health, performance optimization, and global wellness, using psychoactive substances such as psilocybin, medicinal mushrooms, and other natural products.

Keep reading... Show less

The new dispensary brings expanded access for patients along Florida’s Atlantic Coast

Trulieve Cannabis Corp. (CSE: TRUL)  (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 78th nationwide. The new 4,600 sq. ft. location marks the Company’s first in the city of Sebastian and second in Indian River county expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NASDAQ: CGC) will release its financial results for the third quarter fiscal 2021 ended December 31, 2020 before financial markets open on February 9, 2021.

Keep reading... Show less


Aurora Cannabis Inc. (the “Company” or “Aurora”) (NYSE: ACB) (TSX: ACB), the Canadian company defining the future of cannabinoids worldwide, announced today the closing of its previously announced bought deal public offering (the “Offering”) of units of the Company (the “Units”) for total gross proceeds of US$137,940,000 . The Company sold 13,200,000 Units at a price of US$10.45 per Unit, including 1,200,000 Units sold pursuant to the exercise in full of the underwriters’ over-allotment option.

Keep reading... Show less