- Company: Canopy Growth
- Founders: Bruce Linton and Chuck Rifici
- Current CEO: Bruce Linton
- Stock Price: 25.14
- Market: Pharmaceutical
- Rating Of Stock: 8.5 out of 10.
Canopy Growth Corporation was a startup company started by entrepreneurs Bruce Linton and Chuck Rifici.
Chuck Rifici first CEO of Tweed which would become Canopy Growth Corp had experience from being CFO of several prior companies. He was also CFO of the Liberal Party of Canada for some time of which the current Priminister of Canada belongs to. One of the platforms that Canadian Priminster Justin Trudeau ran on was to legalize cannabis for both medical and recreational use across the country of Canada. This is what sparked the growth of the marijuana industry in Canada. This October 17, 2018, Canada will become one of the only counties in the western hemisphere to legalize cannabis for medical and recreational use nationwide. Chuck Rifici took Tweed Marijuana Incorporated public in 2014 and was the company’s first CEO. Rifici stepped down from the CEO position amongst some reported turmoil with the companies board and was replaced by Bruce Linton. Chuck Rifici is now CEO of Nesta Holding Company, a private equity firm that invests in the cannabis industry.
September 2015, Bruce Linton took over as CEO of Tweed Marijuana Incorporated and renamed the company Canopy Growth Corp. Bruce came with experience as being CEO of previous companies and being one of the co-founders of the company. Bruce Linton is currently the CEO of Canopy Growth Corp.
Canopy currently has seven grow facilities spread across 665,000 square feet, and it is in the process of developing greenhouses on 3.7 million square feet of land in British Columbia. Though tight-lipped about its annual production capacity, it could easily top 300,000 kilograms of dried cannabis.
What really makes Canopy Growth special is its distribution channels. It has physical outlets to sell cannabis, an online presence complete with the most well-known brand in Canada (Tweed), and a partnership with spirits giant Constellation Brands, which took a 9.9% equity stake in Canopy last year worth $190 million. Canopy Growth also has a burgeoning presence in foreign markets where medical cannabis is legal. It’s the most complete package, which is why it currently boasts the largest market cap.