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Former Canopy Growth Co-CEO Bruce Linton Invests In Slang Worldwide

Slang Worldwide Inc. said that Bruce Linton, co-founder of Canadian marijuana company Canopy Growth Corp., has made an investment in the cannabis consumer packaged goods company.

Slang noted that Linton's support will be instrumental as the company expands its portfolio of branded products and enters new markets.

"We are pleased to announce Bruce Linton's investment in SLANG, which represents a vote of confidence in the fundamental strengths of the SLANG business model. His experience in building the world's largest cannabis company, while creating billions of dollars in shareholder value, will be very valuable to our team and shareholders," said Slang Worldwide CEO Peter Miller.

Under the terms of the deal, Linton purchased through an affiliate 347,222 units of Slang at a price of $0.72 per unit. Each unit is comprised of one common share of Slang and one common share purchase warrant. Each warrant is exercisable at a price of $0.89 and expires on September 17, 2024.

In addition, Linton has agreed to a customary lock-up and will not sell, transfer or otherwise dispose or deal with any of the securities of Slang for a period of one year.

Slang has a portfolio of branded products and a presence in 12 states in the U.S., with products available in over 2,600 retail stores. To date, consumers have purchased over $350 million of Slang products.

Linton announced in a separate press release that he is now an "activist investor" in Slang.

Linton's investment in Slang comes just months after he was ousted in July as co-CEO from Canopy Growth, the world's largest publicly traded cannabis company by market value.

Linton was the brain behind Canopy's growth into a cannabis powerhouse. He signed partnerships with celebrities such as Snoop Dogg and Martha Stewart as well as inked deals with spirits giant Constellation Brands and acquired U.S.-based Acreage Holdings.

Brewer Constellation Brands acquired a 9.9 percent stake in Canopy Growth in October 2017, as it sought to gain a foothold in the recreational marijuana market. The beer and wine giant later raised its stake in Canopy Growth to 38 percent in August 2018 after it announced an investment of C$5 billion, or $4 billion.

Linton is also assuming several other new roles within the cannabis industry. Among these other roles, he is joining Michigan-based Gage Cannabis as executive chairman, and animal health and wellness CBD company Better Choice Company as a special advisor.

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