Trade Canopy Growth
Parachute Growth Company, formerly Tweed Marijuana Inc., is a cannabis company based in Smith Falls, Ontario. Tweed was founded by Bruce Linton and Chuck Rivichi in 2013 and renamed Umbrella Growth Company in 2015 after its merger with Pedrocan Canada. Mark Zekolin was also one of the founders; He became the sole CEO as of early July 2019 after Linton was fired from the company, but stepped down on December 20 th. By April 2019, Canopi was the world's largest cannabis company, based on the value of all shares, or market value. At the time, Constellation Brands controlled more than 35% of the company that had approximately 3,200 employees. However, 2019 created new challenges for the company, with its share price falling by about 32%. Bruce Linton was the chief founder, chairman and co-CEO and Mark Zekolin was co-CEO and president until July 3, 2019, when Linton was ousted from the company. Parachute growth was the first cannabis product to be traded in North America, federally licensed, publicly traded in North America, and traded on the Toronto Stock Exchange as WEED. Trading as a CGC on the NEW York Stock Exchange began on May 24, 2018, as the first cannabis producer on the NYSE. On October 17, 2018, marijuana became legal in Canada for recreational use. The first legal cannabis sale in Canada was made in the middle of the night by CEO Bruce Linton at a tweed shop in St. John's, Newfoundland and Labrador. Farmers are licensed by Health Canada under the Medical Cannabis Access Regulations (ACMPR). In November 2016, the Financial Post described the company as "canada's first $1 billion cannabis rhinoceros."