Dynamic plant-based food and beverage company Canopy Rivers
(TSXV: RIV) this morning announced its completion of an equity investment in
10663522 Canada Inc. (“Herbert”), a unique brand platform focused on the
adult-use cannabis beverage and edibles market. Canopy Rivers subscribed in
Herbert for CAD $1,500,000 of preferred shares and received incremental
warrants that entitle RIV to certain governance-related rights and the ability
to increase its economic interest in Herbert under certain circumstances.
“Herbert represents an opportunity for Canopy Rivers to be invested at a very
early stage in a company focused on the adult-use cannabis beverage and edible
product segment,” Canopy Rivers President Narbe Alexandrian stated in the news
release. “In the US, cannabis-infused beverages have emerged as a high-growth
segment within the ingestibles category, and include a variety of products in
both THC- and CBD-dominant formats. In Canada, we expect similar growth beyond
dried flower and oils, into food and beverage. Canopy Rivers believes that
Herbert, equipped with existing R&D, marketing and manufacturing expertise,
has the ability to enter this market quickly and achieve success in creating
widely appealing THC-infused beverages and edibles under this new standalone
brand.”
To view the full press release, visit http://ibn.fm/PAMde
About Canopy Rivers Inc.
Canopy Rivers is a unique investment and operating platform
structured to pursue investment opportunities in the emerging global cannabis
sector. Canopy Rivers works collaboratively with Canopy Growth Corporation
(TSX: WEED) (NYSE: CGC) to identify strategic counterparties seeking financial
and/or operating support. Canopy Rivers has developed an investment ecosystem
of complementary cannabis operating companies that represent various segments
of the value chain across the emerging cannabis sector. As the portfolio
continues to develop, constituents will be provided with opportunities to work
with Canopy Growth and collaborate among themselves, which Canopy Rivers
believes will maximize value for its shareholders and foster an environment of
innovation, synergy and value creation for the entire ecosystem. For more
information, visit the company’s website at www.CanopyRivers.com
About MissionIRNewsBreaks
MissionIRNewsBreaks provide
a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by
our Team of professional journalists that keep a constant eye on the markets,
these posts are designed to inform you on the latest happenings of our clients
and other publicly traded companies on our radar. From earnings, acquisitions
and agreements to conference attendance and clinical study results, our news
breaks keep you up-to-date with the day’s top movers. MissionIR is primarily
focused on strategic communications. We have executed countless communications
programs to address the needs of companies ranging from start-ups to
established industry leaders, gaining valuable experience and the expertise
necessary to determine the most effective strategy for any given situation.
Please see full terms of use and disclaimers on the Mission
Investor Relations website applicable to all content provided by MIR, wherever
published or re-published: http://www.missionir.com/disclaimer.html
