TORONTO • Tweed Marijuana Inc. is officially renaming itself Canopy Growth Corp. as it prepares for its next leg of growth after a landmark acquisition.
Shareholders approved the name change at the company’s annual meeting in Toronto on Thursday. In explaining the move, chairman and chief executive Bruce Linton noted the company has two established brands (Tweed and Bedrocan) in the medical marijuana space. The new name reflects the fact that the parent company will continue to expand into new markets and release new products such as oils.
“We want to dominate (the industry),” Linton told investors.
It has been a whirlwind year for Tweed. The company went public only in April of last year, when Health Canada implemented a rule requiring medical marijuana patients to buy product from licensed producers. That move essentially birthed the industry.
– Read the entire article at Financial Post.