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The Canopy Growth Joint Executive Officer Uncovers Key Priorities of the World's Most Marijuana Law Firm



Canopy Growth Corporation wants to remain the world's largest producer of legal pan and hear a friend of Bruce Linton who has a detailed plan to stay there.

Thursday evening, Canopy reported that profits increased by almost 300% in the first quarter of legal recreational sales in Canada. Canopy Parts

CGC, + 3.12%

WEED, + 2.50%

grew by 4.4% at the same time.

After the morning of the morning of the conference, Lynton jumped up with a phone call from MarketWatch and explained the three priorities that Canopy thinks will help achieve the goal. For Linton, the combination of the right people, reasonable capital costs and the proper distribution of currently defective cannabis supply companies work together to make the business fly.

Canopy added a large number of its employees, reporting that it has increased its workforce even more than income. Although last year there were 700 employees, the total number of employees increased by 285% to 2,700 employees.

"You do what you can do with a group of people," said Lynton. "We are constantly testing new staff ̵

1; we are working against developing priorities. There is never a passing week that we do not do. "

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activity has increased significantly. General and administrative expenses increased to $ 46.1 million ($ 36.4 million) from $ 11.1 million. Sales and marketing increased to 44.9 million dollars. US from 9.4 million dollars. USA a year ago.

The second level of Canopy's strategy is investment in infrastructure, which is commonly referred to as capital expenditures. Canopy – which reports in International Financial Reporting Standards, or IFRS, instead of generally accepted US accounting standards, or GAAP, rules – uses a comparable measure that is called property, equipment and equipment. Canopy registered purchases and property, plant and equipment deposits of C $ 495.2 million up from C $ 86.1 million a year before the quarter.

"In Canada we made significant investments in the theory of how things will open [in the cannabis market]," Linton said. "Now we do the same thing on a global basis. [196459002] Read: Aphria believes that some members of the council had conflicts in a deal in Latham

Linton points to asset investing in South America. For example, the company is positioning itself on the market in the future with more unknowns what is known at the moment.

For cannabis companies, marijuana itself is a scarce resource, which means that Canopy has to properly distribute it. Different provincial buyers should have a cannabis for recreation, and provide a satisfactory offer for medical patients in Canada. Canopy also exports the bank and should maintain adequate volumes for its research and development units that require a pan to perform tasks such as clinical trials and product development. "The second – the patient, the third – the export, and the fourth – recreational [cannabis]."

In the fiscal third quarter, Canopy claimed that 8288 kilograms of pots were sold to the recreational market and the equivalent and 1814 kilograms for medical purposes. In the quarter of last year, Canopy sold not a recreational pot and 2330 kilos of a medical bank. The company said it sold 204 pounds of Medical Bank in Germany in the third quarter.

The company does not say how much cannabis it uses for research, development and other scientific activities.

Linton is trying to manage the company priorities, along with co-managing director Mark Sequelin. Linton said that Zekulin runs a show, boasting two degrees of law and one in mathematics.

"Very superficial, I call work and Mark is doing work," said Lynton, explaining how the duo shares the work of the head boss.

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Where he says that Zekulin is responsible for everything that concerns operations and execution. Linton says Zekulin likes to build structures, build organizational charts and business figures, "key performance indicators" in business jargon.

One ritual that served them well: Zekulin calls on Linton on his commute at work – Linton says that wakes up extremely early – and returns home again. At these daily meetings, co-directors decide what to do with the company.

Their work, of course, paid off on Wall Street, especially after the agreement with Constellation Brands Inc.

STZ, + 0.55%

Canopy stocks increased 112% last year, as the S & P 500 index

SPX, + 1.09%

increased by 0.5%.


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