U.S. cannabis company Vireo Health International Inc. said Friday that cannabis entrepreneur Bruce Linton has resigned from its board. The company did not offer any explanation for the move. "We wish Bruce well in his future endeavors," said Kyle Kingsley, M.D., Chief Executive Officer & Founder of Vireo. Linton, former co-CEO of Canadian cannabis market leader Canopy Growth Corp. , joined the board of the Minneapolis-based Vireo in November amid some fanfare. It was Linton's first major role since he was ousted from Canopy last July, amid pressure from the company's biggest shareholder, Corona beer brewer Constellation Brands Inc. , which had invested $4 billion in the Smith Falls, Ontario-based Canopy in late 2018. Vireo was set up five years ago with a team led by doctors, scientists and engineers as a medical cannabis company that has developed into a multistate operator. Linton had been tasked with helping Vireo find acquisition targets. Vireo shares were not active premarket, but have fallen 48% in the year to date. The Cannabis ETF has fallen 17% in the same period, while the S&P 500 has fallen 7%. Read More...
U.S. cannabis company Vireo Health International Inc. said Friday that cannabis entrepreneur Bruce Linton has resigned from its board. The company did not offer any explanation for the move. “We wish Bruce well in his future endeavors,” said Kyle Kingsley, M.D., Chief Executive Officer & Founder of Vireo. Linton, former co-CEO of Canadian cannabis market leader Canopy Growth Corp. , joined the board of the Minneapolis-based Vireo in November amid some fanfare. It was Linton’s first major role since he was ousted from Canopy last July, amid pressure from the company’s biggest shareholder, Corona beer brewer Constellation Brands Inc. , which had invested $4 billion in the Smith Falls, Ontario-based Canopy in late 2018. Vireo was set up five years ago with a team led by doctors, scientists and engineers as a medical cannabis company that has developed into a multistate operator. Linton had been tasked with helping Vireo find acquisition targets. Vireo shares were not active premarket, but have fallen 48% in the year to date. The Cannabis ETF has fallen 17% in the same period, while the S&P 500 has fallen 7%.
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