Omura, a California-based marijuana and hemp flower vaporizer company, said that Bruce Linton, the former CEO and founder of Canadian cannabis company Canopy Growth Corp., has participated in the company's latest fundraising round. Linton has also joined Omura as strategic advisor.
Omura noted it has now secured a total of $5 million in capital to apply toward expansion and technology growth. The company's capital raising comes at a time when investments are difficult to secure amid the global coronavirus pandemic.
According to Omura, its proprietary pre-filled flower sticks and heat-not-burn device ensure precision dosing and sustainability. The company said its immediate goal is to provide North America with an "efficacious full spectrum cleaner alternative" to regular vaporizers.
In January, Omura launched into retail, with six premium flower brands in California. The company plans to expand across recreational and medical States in the U.S. as well as Canada this year.
The brand is also partnered with Greenlane Distribution for national distribution in the U.S.
"Having worked with Bruce for several months we have benefited from his counsel and expertise as he brings an advantageous set of industry skills and energy to Omura. This will undoubtedly strengthen our position as a new global platform for the consumption of cannabis and CBD hemp," said Mike Simpson, CEO of Omura.
In July 2019, Canopy Growth ousted its co-CEO Bruce Linton and said that Mark Zekulin agreed to become the sole CEO of the company. Linton later said he was fired from his post.
Linton was the brain behind Canopy's growth into a cannabis powerhouse. He had signed partnerships with celebrities such as Snoop Dogg as well as Martha Stewart, and also inked deals with brewer Constellation Brands and acquired U.S.-based Acreage Holdings.
In September, Slang Worldwide said that Linton made an investment in the cannabis consumer packaged goods company.
At that time, Linton said he is also assuming several other new roles within the cannabis industry. Among these other roles, Linton said he will join 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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