Canopy Growth CEO Sells $1.1mm in Stock

Canopy Growth (TSXV: CGC) (OTC: TWMJF) CEO Bruce Linton disposed of 400K shares of the stock at the end of June, raising approximately $1.1mm:

Click here to view the transaction via PDF

Source: Sedi.ca
Source: Sedi.ca

The sales represented approximately 10% of Linton’s holdings. We reached out to the company for an explanation.

I recently sold some shares to cover financial obligations related to ownership in the Tweed building and related financing more than three years ago to establish the company as well as to assist with personal financial planning. I continue to be a significant shareholder in the company.

Bruce Linton CEO of Canopy GrowthBruce Linton, CEO of Canopy Growth

Canopy Growth, which operates Tweed and Bedrocan Cannabis, reported very strong sales and registered patient growth in late June. The company will be uplisting this quarter from the TSX Venture to the TSX. Its stock is currently down about 6% YTD.

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Breaking News by Alan Brochstein, CFA
Alan Brochstein, CFA
Based in Houston, Alan leverages his experience as founder of online communities 420 Investor, the first and still largest due diligence platform focused on the publicly-traded stocks in the cannabis industry. With his extensive network in the cannabis community, Alan continues to find new ways to connect the industry and facilitate its sustainable growth. At New Cannabis Ventures, he is responsible for content development and strategic alliances. Before shifting his focus to the cannabis industry in early 2013, Alan, who began his career on Wall Street in 1986, worked as an independent research analyst following over two decades in research and portfolio management. A prolific writer, with over 650 articles published since 2007 at Seeking Alpha, where he has 70,000 followers, Alan is a frequent speaker at industry conferences and a frequent source to the media, including the NY Times, the Wall Street Journal, Fox Business, and Bloomberg TV. Contact Alan: Twitter | Facebook | LinkedIn | Email

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