Dynamic plant-based food and beverage company Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) today
announced receipt of a Health Canada cultivation license for Canopy Growth
Corporation (TSX: WEED) (NYSE: CGC) and its portfolio company, Spot
Therapeutics Inc., for its Fredericton-based production and distribution
facility. Per the update, the newly licensed facility will operate under the
flagship Tweed banner, and the cultivation license initiates a long-term
(25-year) cash flow stream anticipated to be approximately $2.85 million per
year with commencement expected to begin in September 2019. “The long-term
income stream from Spot, combined with our existing royalty portfolio, will
further stabilize Canopy Rivers’ operating cash flow profile and provide us
with additional financial resources to deploy as we continue to make
investments in industry verticals we believe offer long-term strategic value
for our portfolio partners and shareholders,” Canopy Rivers CFO Eddie Lucarelli
said in the news release.
To view the full press release, visit http://ibn.fm/iH8BA
About Canopy Rivers
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 (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.
NOTE TO INVESTORS: The latest news and updates
relating to CNPOF are available in the company’s newsroom at http://ibn.fm/CNPOF
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