Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital
firm specializing in cannabis, today announced completion of a US$10 million
investment in TerrAscend Canada Inc., a subsidiary of its portfolio company
TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF). According to the update, the
investment includes the purchase of 13,243 units, with each consisting of one
unsecured convertible debenture of TerrAscend Canada with a principal amount of
C$1,000 and 25.2 common share purchase warrants of TerrAscend exercisable until
October 2, 2024. TerrAscend is the first and only cannabis company with sales
in Canada, the U.S. and Europe with an international portfolio that includes a
robust research and development platform, domestic and international
cultivation, processing, distribution facilities, and medical and adult-use
branded cannabis products. “We think TerrAscend is uniquely positioned to meet
the evolving consumer demands in the three largest cannabis markets worldwide,”
Canopy Rivers President and CEO Narbe Alexandrian said in the news release. “We
strongly believe in TerrAscend’s ability to execute on its global strategy,
market a diversified brand portfolio, and build on its recent acquisitions, and
this additional investment is an affirmation of that belief.”
To view the full press release, visit http://ibn.fm/7Z2ES
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 identifies 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 Corporation (TSX: WEED, NYSE: CGC) 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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