Canadian cannabis giant, Canopy Growth Corp., hit the headlines earlier this month after founder Bruce Linton was axed as chief executive officer with immediate effect on July 03. While the board at the world’s biggest cannabis firm has remained tight-lipped over the exact reasons for Linton’s firing, market analysts have pointed towards Canopy’s stinted profitability and failure to adequately boost share price.
As Bloomberg reports, Linton is subject to a non-compete agreement, which means he can’t participate in the Canadian cannabis sector for some time. In speaking to Bloomberg TV, the cannabis entrepreneur seemed to have some regrets about this, saying: “Anybody who’s dumb enough to launch a new cannabis company in Canada, I don’t know what they’re doing, they should have been at it six years ago. Canada is done. You’re going to end up with a few winners and a whole bunch of people who wonder why they started.”
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