Better Choice (BTTR) soared 23% on Tuesday after the animal-focused cannabis company said Canopy Growth founder and former CEO Bruce Linton has joined as a special adviser.
Better Choice stock was up 97 cents to $5.12 at last check.
The company said Linton will help it expand its global cannabinoid animal research, build out an internal intellectual property, data and analytics platform and explore "strategic initiatives and partnerships" for the business.
In a release, Linton said Better Choice has "uniquely differentiated itself from many of its peers by successfully merging brands, infrastructure, marketing, logistics and IP development to create a competitive advantage in the CBD space."
Linton also announced he's taking the executive chairman position at Michigan-based Gage Cannabis and will be a director at Mind Medicine and "expects to select and announce a multi-state operator (MSO) for a similar role in the near-term."
"Summer was a very costly vacation period for virtually everyone who owns/owned stocks associated with the cannabinoid sector," Linton said in a statement. "I share your pain and may have indirectly contributed to it. For that I apologize. Let's get back to a focus on creating value, thinking beyond the quarter and driving hard to bring science driven outcomes to the world."
Linton also announced on Tuesday investments in two cannabis companies, Slang Worldwide and DNA Genetics.
"I want to thank the many entrepreneurs that reached out and at my core I wish I could be helpful to you directly, but the reality is we will all be working away at the same goals and perhaps I can be helpful by once again pushing the pace in the sector," Linton said in the release.