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Wednesday, September 06, 2023 12:45:32 PM
Most ppl think think Canopy bought it from Hershey. Not so. Let's take a closer look.
Canopy only acquired the property in 2017 for $6.6M from a company called Tweed Hershey Drive Inc
The majority owner of Tweed Hershey Drive Inc was Mr Linton—also Canopy's CEO—who received 70,800 of the 94,397 shares issued for the transaction.
This filing shows that canopy had been leasing 'a portion' of the facility from Tweed Hershey Drive Inc— Linton's company—and the lease expense incurred for the PARTIAL year ended March 2017 was $2.1 million.
The previous FY's lease was $2.4 million.
sec.gov/Archives/edgar…
"Lease agreement dated December 27, 2013"
So the lease went from 2013 until Canopy purchased the property in 2017.
TWEED HERSHEY DRIVE INC., previously known as 2387974 ONTARIO INC., was created Sept 13, 2013
Mr Linton was being compensated via a 'consulting agreement' between Canopy/Tweed and his holding company, HBAM Holdings Inc.
Says here the initial term was July 1, 2013 to July 1, 2015 & thereafter was month-to-month.
Monthly fee was $16,667.
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