Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) on Thursday
announced that its portfolio company TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF)
has entered definitive agreements to acquire ABI SF, LLC. ABI SF operates a Bay
Area cannabis cultivation facility and owns the State Flower brand, which is
recognized for its ultra-premium cannabis flower. California-based cannabis
producer State Flower focuses on its craft approach to cultivation, using
first-class genetics at an Envirocann certified facility in San Francisco.
“This announcement is yet another example of TerrAscend delivering on its U.S.
expansion plans, providing ever-growing U.S. exposure to Canopy Rivers’ and
TerrAscend’s shareholder base,” Canopy Rivers president and CEO Narbe
Alexandrian stated in the news release. “We think the acquisition of State
Flower will allow TerrAscend to capture important mindshare in the U.S. through
a strong, consumer facing brand. With a U.S. retail foothold already secured
through The Apothecarium, we believe that State Flower is a natural strategic
fit for TerrAscend.”
To view the full press release, visit http://ibn.fm/Sxhmk
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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