Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) this
morning announced that it intends to increase its total investment in
cannabis-focused investment and operating firm Canopy Rivers (TSX.V: RIV) (OTC:
CNPOF) by CAD $30 million. The investment will be made through a private
placement of subordinated voting shares in the capital of Canopy Rivers
concurrent with Canopy Rivers’ bought deal offering of subordinate voting
shares for gross proceeds of approximately $55 million. Upon closing of the
investment, which is expected to occur on or about February 27, 2019, Canopy
Growth’s ownership of issued and outstanding shares of Canopy Rivers will
increase on a non-diluted basis from approximately 26.5% to approximately
27.3%. “The strength of the Canopy Rivers team, coupled with their selective
approach to business development and execution of strategic investments,
creates value for shareholders and for Canopy Growth,” Canopy Growth Founder
and Co-CEO Bruce Linton stated in the news release. “By increasing Canopy
Growth’s investment in Canopy Rivers, we are demonstrating our interest in
growing great companies, developing selective opportunities and delivering
Canopy’s shareholders more growth.”
To view the full press release, visit http://ibn.fm/9Bxqy
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 Canopy Growth Corporation
Canopy Growth is a world-leading diversified cannabis and
hemp company, offering distinct brands and curated cannabis varieties in dried,
oil and Softgel capsule forms. Canopy Growth offers medically approved
vaporizers through the company’s subsidiary, Storz & Bickel GMbH & Co.
KG. From product and process innovation to market execution, Canopy Growth is
driven by a passion for leadership and a commitment to building a world-class
cannabis company one product, site and country at a time. The company has
operations in over a dozen countries across five continents. The company is
proudly dedicated to educating healthcare practitioners, conducting robust
clinical research, and furthering the public’s understanding of cannabis, and
through its wholly owned subsidiary, Canopy Health Innovations, has devoted
millions of dollars toward cutting edge, commercializable research and IP
development. Canopy Growth works with the Beckley Foundation and has launched
Beckley Canopy Therapeutics to research and develop clinically validated
cannabis-based medicines, with a strong focus on intellectual property
protection. Canopy Growth acquired assets of leading hemp research company,
ebbu, Inc. Intellectual Property (“IP”) and R&D advancements achieved by ebbu’s
team apply directly to Canopy Growth’s hemp and THC-rich cannabis genetic
breeding program and its cannabis-infused beverage capabilities. Through partly
owned subsidiary Canopy Rivers Corporation, the company is providing resources
and investment to new market entrants and building a portfolio of stable
investments in the sector. From its historic public listing on the Toronto
Stock Exchange and New York Stock Exchange to its continued international
expansion, pride in advancing shareholder value through leadership is engrained
in everything part of Canopy Growth. Canopy Growth has established partnerships
with leading sector names including cannabis icon Snoop Dogg, breeding legends
DNA Genetics and Green House seeds, Battelle, the world’s largest nonprofit
research and development organization, and Fortune 500 alcohol leader
Constellation Brands, to name but a few. Canopy Growth operates ten licensed
cannabis production sites with over 4.3 million square feet of production
capacity, including over 500,000 square feet of GMP certified production space.
The company operates Tweed retail stores in Newfoundland and Manitoba and has
entered into supply agreements with every Canadian province and territory. For
more information visit www.CanopyGrowth.com
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