Dynamic plant-based food and beverage company Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) today announced receipt of a Health Canada cultivation license for Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) and its portfolio company, Spot Therapeutics Inc., for its Fredericton-based production and distribution facility. Per the update, the newly licensed facility will operate under the flagship Tweed banner, and the cultivation license initiates a long-term (25-year) cash flow stream anticipated to be approximately $2.85 million per year with commencement expected to begin in September 2019. “The long-term income stream from Spot, combined with our existing royalty portfolio, will further stabilize Canopy Rivers’ operating cash flow profile and provide us with additional financial resources to deploy as we continue to make investments in industry verticals we believe offer long-term strategic value for our portfolio partners and shareholders,” Canopy Rivers CFO Eddie Lucarelli said in the news release.
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About Canopy Rivers
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 (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.
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