Thursday, April 16, 2020

MissionIRNewsBreaks – Canopy Rivers Inc.’s (TSX: RIV) (OTC: CNPOF) PharmHouse Increases Bank Debt Facility by $10M, Signifying Confidence in the Joint Venture


Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today announced that its 49%-owned joint venture in Leamington, Ontario, PharmHouse Inc., amended its syndicated credit facility (“Credit Facility”) with the Bank of Montreal (“BMO”), as the agent and lead lender, and the Canadian Imperial Bank of Commerce and Concentra Bank (together with BMO, the “Lenders”). According to the update, the amended terms provide PharmHouse with an additional $10 million of secured debt financing, representing an increase to the Credit Facility that was initially announced in January 2019. “This incremental debt financing, which comes at a time of significant constraint in capital markets generally, is a testament to the momentum that our joint venture has been building for the past two years,” Canopy Rivers Chief Financial Officer Eddie Lucarelli stated in the news release. “We believe that it signifies the growing confidence that leading financial institutions have in the quality of the cultivation platform that has been built, the expertise of our partners, and PharmHouse’s long-term role in the global cannabis sector.”

To view the full press release, visit http://ibn.fm/fpEYP

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.

MissionIR (MIR)
Atlanta, Georgia
www.MissionIR.com
404.941.8975 Office
Editor@MissionIR.com

Please see full terms of use and disclaimers on the Mission Investor Relations website applicable to all content provided by MIR, wherever published or re-published: http://www.missionir.com/disclaimer.html