US liquor company Constellation Brands, which is Canopy Growth’s largest investor, named two more key figures to Canopy’s board. Judy Schmerling, who sits on Constellation’s board of directors, will take the chair, while Constellation executive VP and Chief Marketing Officer Jim Sabia joined the board as a member in principle.
NewsWire
- Canopy’s social-purpose initiative, called Tweed Collective, is accepting submissions from non-profits, charities, and business-improvement-areas to receive support.
Former Canopy co-CEO and co-founder Bruce Linton feuded with former Bacardi president Rob McPherson, whom Linton said he refused to hire as CEO because “you wanted snow tires as part of the package.” (Depending on your vehicle, a set of high-end snow tires retails for between $600 and $1,000.)
Twitter—Betting Bruiser
Aphria received a $100M private placement investment from an institutional investor who requested anonymity.
MJ Biz Daily, BNN Bloomberg
- The deal, which diluted the company’s outstanding shares, wasn’t popular with shareholders.
- Aphria also finally received its EU-GMP certification, allowing it to export MED flower and oil to the EU. The company originally intended to obtain such certification early last year. The delay means its rivals are already shipping to Germany.
MJ Biz Daily
Alberta LP Sundial Growers announced it laid off “less than 10%” of its employees, blaming regulatory barriers, too few REC stores, and the illicit market.
Global News
- The Global story above originally contained quotes from Maurizio Terrigno, founder of Calgary’s Canadian Cannabis Chamber, who said the company was hurt by cost overruns, inefficiencies, and crop failure, while its products are “average at best.”
Twitter—Mark Spear - Some insiders took issue with Terrigno’s comments, with one lawyer implying they were slanderous, while others criticised Global for running them without confirmation. Global ultimately removed them from the story and apologized.
Twitter—Trina Fraser, Cameron Bishop, Matt Maurer, David George-Cosh - Terrigno has previously been in the news after his brother Mike allegedly followed and threatened a Calgary city planner and two other people during debate over rezoning plans for their family’s luxury restaurant, which Maurizio managed.
Calgary Herald, Vancouver Sun
MarketWatch identified what it said was an error in the way Hexo has calculated its employee stock options dating back to 2017.
MarketWatch
