Thursday, March 12, 2020

MissionIRNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Portfolio Company Obtains C$80.5M Debt Financing Arrangement with Canopy Growth Corp. (TSX: WEED) (NYSE: CGC)


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

About MissionIRNewsBreaks

MissionIRNewsBreaks provide a rapid summary of corporate news that catch the attention of MissionIR. MissionIRNewsBreaks are created by our Team of professional journalists that keep a constant eye on the markets, these posts are designed to inform you on the latest happenings of our clients and other publicly traded companies on our radar. From earnings, acquisitions and agreements to conference attendance and clinical study results, our news breaks keep you up-to-date with the day’s top movers. MissionIR is primarily focused on strategic communications. We have executed countless communications programs to address the needs of companies ranging from start-ups to established industry leaders, gaining valuable experience and the expertise necessary to determine the most effective strategy for any given situation.

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