Le PDG évincé de Canopy Growth vient de lancer Collective Growth pour une guerre du cannabis aux États-Unis


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After being ousted from the world’s largest cannabis company he built as a co-founder, former Canopy Growth co-CEO Bruce Linton is rounding up fellow Canopy expats to lead a new cannabis venture dubbed Collective Growth.

The new similarly named venture, which filed Monday with the SEC to eventually list on the Nasdaq and raise up to $150 million as a special purpose acquisition company, will attempt to target U.S. investment opportunities tied to hemp and CBD.

hundreds of millions of dollars into Canopy’s hemp growing operations, including its New York cultivation facility that marked the company’s first foray into cannabis cultivation in the U.S. The strategic advisor that oversaw that buildout with Linton while he was at Canopy and current Chairman of the National Hemp Association, Geoff Whaling, is now working alongside Linton as Collective Growth co-founder in the common belief that hemp as a plant is being underutilized if its harvested solely for CBD.” data-reactid=”18″ type=”text”>As co-CEO of Canopy last year, Linton directed hundreds of millions of dollars into Canopy’s hemp growing operations, including its New York cultivation facility that marked the company’s first foray into cannabis cultivation in the U.S. The strategic advisor that oversaw that buildout with Linton while he was at Canopy and current Chairman of the National Hemp Association, Geoff Whaling, is now working alongside Linton as Collective Growth co-founder in the common belief that hemp as a plant is being underutilized if its harvested solely for CBD.

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Hemp plants grow at a facility in Oregon. Certain states allowed for permitted hemp production under the 2014 farm bill. The 2018 farm bill made hemp production legal on a federal level. (AP Photo/Don Ryan)

“Where we have a space right now is hemp shouldn’t just be viewed as CBD. Hemp has so many virtues that are under-realized,” Linton told Yahoo Finance’s YFi PM. “What we want to take is the whole plant and create a profit from every element of it.”

the largest-ever merger with U.S. cannabis company Acreage Holdings to be executed whenever the sale of marijuana becomes federally permissible.” data-reactid=”40″ type=”text”>Interestingly, that could put Linton on a path to compete with the company that he co-founded and was fired from, depending on how both companies look to capitalize on the expansion of hemp since the 2018 farm bill enabled farmers to grow it legally. As co-CEO of the Canadian cannabis giant, Linton also coordinated the largest-ever merger with U.S. cannabis company Acreage Holdings to be executed whenever the sale of marijuana becomes federally permissible.

At first, that led to cultivating the plant for the extraction of the non-psychoactive compound CBD, which itself has grown in popularity since for its presumed health benefits. Analysts now estimate the total industry could be worth $23 billion by 2023.

more sustainable plastic alternatives. By looking to cultivate hemp in a more streamlined operation for more than just CBD, Collective Growth is hoping the financials could work out better. The company’s filing revealed Linton also recruited Canopy’s former chief financial officer to work on the project, but did not list potential acquisition targets.” data-reactid=”42″ type=”text”>But those within the hemp community have long held that the plant has much more to offer, including more sustainable plastic alternatives. By looking to cultivate hemp in a more streamlined operation for more than just CBD, Collective Growth is hoping the financials could work out better. The company’s filing revealed Linton also recruited Canopy’s former chief financial officer to work on the project, but did not list potential acquisition targets.

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Ford Motor Company founder Henry Ford, right, once unveiled a plastic automobile, developed from agricultural products in 1941. The experimental, handmade automobile had a plastic body made from soybean and fibers such as field straw, hemp and flax. After hemp production was prohibited, the idea of using it in plastics fell out of popularity. (AP Photo)

“It says we can’t tell you what we’re going to do with the money cause we don’t know,” Linton said, “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.

YFi PM as well as a senior writer and on-air reporter covering entrepreneurship, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz.” data-reactid=”65″ type=”text”>Zack Guzman is the host of YFi PM as well as a senior writer and on-air reporter covering entrepreneurship, cannabis, startups, and breaking news at Yahoo Finance. Follow him on Twitter @zGuz.

Read the latest financial and business news from Yahoo Finance” data-reactid=”66″ type=”text”>Read the latest financial and business news from Yahoo Finance

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