Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) this morning
reported financial results for the first quarter ended June 30, 2019. Among
other highlights, the company reported an operating income of $2.7 million for
the quarter which it primarily attributes to royalty, interest and lease
income. Canopy Rivers took advantage of new invest opportunities during the
quarter, providing $18.8 million to new investments in Biolumic, Zeakal and
High Beauty in addition to contributing a total of $6 million to existing
investees Greenhouse Juice Company and Agripharm. “In Q1 2020, we made several
exciting investments in plant sciences and cannabis brands, two areas that we
think are primed for real growth in the cannabis sector,” Canopy Rivers
President and CEO Narbe Alexandrian said in the news release. “In addition to
our new investments, as lifecycle investors, it was also rewarding to see so
much positive news coming from our portfolio companies this quarter. From
PharmHouse entering into a significant supply agreement with Canopy Growth to
TerrAscend becoming, to our knowledge, the first and, so far, only cannabis
company with sales in Canada, the U.S., and the European Union, our portfolio
companies were busy creating significant value.”
To view the full press release, visit http://ibn.fm/a8BJO
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.
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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