Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) on Monday
announced that its portfolio company TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF)
received an amendment to its Health Canada license permitting the sale of
cannabis oils from its Mississauga, Ontario facility. Sales of TerrAscend’s
cannabis oils are set to commence immediately through its medical marketplace,
Solace Health. “With another key milestone achieved by TerrAscend in a matter
of a few short months, the company continues to demonstrate its ambition to
become a global provider of pharmaceutical-grade cannabis products,” Canopy
Rivers president and CEO Narbe Alexandrian stated in the news release.
“Cannabis oil is gaining popularity in Canada, the US and in other emerging
global medical markets, and this sales license enables TerrAscend to meet
growing demand for non-combustible cannabis products.”
In addition, Canopy Rivers announced that its portfolio
company James E. Wagner Cultivation Corporation (“JWC”) (TSXV: JWCA) (OTCQX:
JWCAF) has also secured approval of a license amendment from Health Canada
allowing the sale of formulated cannabis oil from JWC’s pilot facility in
Kitchener, Ontario. JWC is ready to begin selling formulated cannabis oil to
its medical cannabis patients as of July 9, 2019. “We believe that JWC’s
multigenerational cannabis experience, its proprietary production methodologies,
and a diversified product offering, make JWC a unique asset within the Canopy
Rivers portfolio,” Canopy Rivers president and CEO Narbe Alexandrian stated in
the news release. “With its Health Canada approval for the sale of formulated
oil products, JWC is well positioned to capitalize on the production and sale
of higher margin cannabis oils. With a full processing sales license, JWC will
have the ability to create precursor products that could lead to the production
of edible cannabis, cannabis extracts, and cannabis topicals when the
regulations take effect later this year.”
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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