Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, this morning announced that Canopy Rivers Corporation, a wholly owned subsidiary of the company, subscribed for 2,380,952 units of James E. Wagner Cultivation Corp. (“JWC”) (TSX.V: JWCA) (OTCQX: JWCAF) at a price of $0.21 each for total consideration of approximately $500,000 in connection with JWC’s non-brokered private placement financing. Each unit consists of one common share in the capital of JWC and one-half of one common share purchase warrant. Each warrant enables Canopy Rivers to purchase one common share at any time on or before February 6, 2023 at a price of $0.275 each. Upon completion of the offering, Canopy Rivers holds 16,241,819 common shares and warrants to purchase a total of 2,190,476 common shares, representing roughly 15% of the issued and outstanding common shares on a non-diluted basis. A copy of the early warning report will be available under JWC’s profile on SEDAR at www.Sedar.com.
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About Canopy Rivers Inc.
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 ecosystem. For more information, visit the company’s website at www.CanopyRivers.com.
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