Canopy Growth (NASDAQ:CGC) founder and ex-CEO Bruce Linton has found a new job, this one in an intriguing niche of the cannabis industry. He has been appointed as special advisor to Better Choice Company, a company that specializes in cannabidiol (CBD) products for pets.
Better Choice said in a press release heralding its new hire that Linton "will be working with Better Choice to, among other things, (a) expand the Company's global cannabinoid animal research, (b) build out an internal intellectual property, data, and analytics platform, and (c) explore strategic initiatives and partnerships for the business."
The hiring of Linton, until recently one of the highest-profile executives among the growing number of marijuana stocks, will certainly raise the profile of the previously obscure Better Choice. The company owns a small portfolio of pet wellness product lines, many of which are made with CBD.
In addition, Linton has been appointed to several non-operational positions in cannabis or cannabis-adjacent companies.
He has been named executive chairman of privately held Wolverine Partners, which describes itself as a business "curating high-quality cannabis experiences for patients in the state of Michigan and bringing internationally renowned brands to market." The company is in the midst of rebranding itself as Gage Growth Corporation.
Linton has also become a director in another enterprise that is not publicly traded, MindMed. This is an early-stage biopharmaceutical company concentrating on the development of "psychedelic inspired" treatments and therapies for ADHD and other brain-related disorders.
Finally, Linton has taken roles as an activist investor in two companies, SLANG Worldwide and OG DNA Genetics. The former is described as "a leading global cannabis consumer packaged goods company," and the latter is a cannabis seed business.
Canopy Growth and Linton parted ways in July, as the company effectively fired him. Linton's co-CEO at the time, Mark Zekulin, stepped into the role exclusively following the departure, although this is only on an interim basis. Canopy Growth is still searching for a permanent CEO. At this stage, it seems Linton was fortunate in the timing of his exit -- subsequently, Canopy Growth released Q1 results that disappointed many investors.