Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital
firm specializing in cannabis, on Wednesday announced that TerrAscend Canada
Inc., a wholly owned subsidiary of CNPOF’s portfolio company TerrAscend Corp.
(CSE: TER) (OTCQX: TRSSF), has entered into an C$80.5 million loan financing
arrangement with Canopy Growth Corp. (TSX: WEED) (NYSE: CGC) pursuant to a
secured debenture. TerrAscend has issued 17,808,975 common share purchase
warrants to Canopy Growth in connection with the loan. TerrAscend Canada
intends to use the net proceeds toward general corporate purposes, the funding
of its Canadian operations, its Arise Bioscience U.S. hemp division, international
expansion, and the repayment of indebtedness. “This additional capital is a
vote of confidence in TerrAscend Canada’s ability to execute on its strategic
mandate for both domestic and international markets,” Canopy Rivers president
and CEO Narbe Alexandrian stated in the news release. “We believe the
TerrAscend team is well-positioned through their resources and network to
continue to take advantage of opportunities in regulated jurisdictions. We are
also pleased with Canopy Growth’s continued support of our portfolio
companies.”
To view the full press release, visit http://ibn.fm/2FZlZ
About Canopy Rivers
Canopy Rivers is a venture capital firm specializing in
cannabis. Its unique investment and operating platform is 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 portfolio.
For more information, visit 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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