Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, on Thursday announced that PharmHouse Inc., its 49%-owned joint venture, has received approval from the Ontario Superior Court of Justice to commence its Sale and Investor Solicitation Process (“SISP”). According to the update, the SISP is intended to solicit interest in, and opportunities for, a sale of or investment in all or part of PharmHouse’s assets or business. This may include a restructuring, recapitalization or other form of reorganization. PharmHouse has engaged BMO Capital Markets (“BMO”) to lead the SISP with oversight from Ernst and Young Inc. (“E&Y”), the monitor in PharmHouse’s Companies’ Creditors Arrangement Act (“CCAA”) proceedings.
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About Canopy Rivers Inc.
Canopy Rivers is a venture capital firm specializing in cannabis with a portfolio of 18 companies across various segments of the cannabis value chain. The company believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging industry insights, in-house expertise and thesis-driven approach to investing, Canopy Rivers aims to provide shareholders exposure to specialized and disruptive cannabis companies. Canopy Rivers’ mission is to invest in innovators across the cannabis value chain, help them grow, and ultimately create value by guiding these companies towards a monetization event. Together with its portfolio, the company is helping build the cannabis industry of tomorrow, today. For more information, visit www.CanopyRivers.com.
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