Ex-Canopy CEO Bruce Linton Gives Gage Growth a Familiar Name, Too – LPC
Hamilton-based Gage is expanding in the US as Gage Growth under the leadership of a familiar face. Bruce Linton, ex-co-CEO of Canopy Growth, is now the executive chair of the US operations. The first of 13 Gage stores opened in Detroit, Mich. near its infamous 8-Mile Road.
“I cannot express how excited I am to be joining the Gage team and family,” said Linton in a Gage Growth press release. “I look forward to leveraging my relationship networks and experiences to play a significant role with Gage as they continue to accelerate their expansion throughout the state.”
Linton was fired from Canopy Growth in July 2019, though the company originally stated that Linton stepped down. It is widely believed that US partner Constellation Brands was not happy with Canopy Growth’s lack of profits.
This clash of philosophies is not unusual. Around the same time, Tilray CEO Brendan Kennedy also said he wanted to put growth ahead of cannabis profits.
Where Does Gage Growth Get Its Cannabis? – LPC
Gage Growth has a long and winding history. It started in Hamilton, Ont. as the Gage Cannabis Co. brand of medical cannabis by Radical Cannabis. The name presumably comes from its location at Gage Avenue North and Beach Road in Hamilton. It’s a company that Linton would be familiar with as well. In 2017, Canopy Growth’s investment arm Canopy Rivers bought a 23.81 per cent stake in the company.
Gage Growth’s US-based operations are completely separate from its Canadian counterpart. Formerly known as Wolverine Partners Corp. (doing business as Gage Cannabis Co.), the company changed its name to Gage Growth in September 2019. It announced the name change and the addition of Bruce Linton at the same time. It also announced the purchase of the US arm of Canopy Rivers called Rivers Innovation, Inc.
Currently, Gage Growth in the US only sells medical cannabis at its 13 stores. Due to federal regulations on both sides of the border, it cannot import cannabis from Canada. The company stated it has three processing licences. It plans to expand into the recreational cannabis market in 2020.
There is another Gage Cannabis Co. in Massachusetts that seems unrelated to the other two companies.
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