Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) this morning announced that its portfolio company, TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF), has entered a definitive agreement to acquire Ilera Healthcare, a vertically-integrated cannabis cultivator, processor, and dispensary operator in Pennsylvania. Per the update, TerrAscend’s acquisition of Ilera’s state-of-the-art, fully integrated seed-to-sale operations adds to its growing global footprint, which currently spans multiple U.S. states, Canada and the European Union. “TerrAscend’s rapid expansion in the U.S. has been driven by strategic, accretive acquisitions of quality operators with strong track records of success,” Canopy Rivers President and CEO Narbe Alexandrian said in the news release. “We view the Ilera acquisition as another important step by TerrAscend as it grows its revenue-generating operations, expands its U.S. footprint in new states, and continues to scale its global business operations.”
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About Canopy Rivers Inc.
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 Corporation (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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