Dynamic plant-based food and beverage company Canopy Rivers (TSXV: RIV) this morning announced its completion of an equity investment in 10663522 Canada Inc. (“Herbert”), a unique brand platform focused on the adult-use cannabis beverage and edibles market. Canopy Rivers subscribed in Herbert for CAD $1,500,000 of preferred shares and received incremental warrants that entitle RIV to certain governance-related rights and the ability to increase its economic interest in Herbert under certain circumstances. “Herbert represents an opportunity for Canopy Rivers to be invested at a very early stage in a company focused on the adult-use cannabis beverage and edible product segment,” Canopy Rivers President Narbe Alexandrian stated in the news release. “In the US, cannabis-infused beverages have emerged as a high-growth segment within the ingestibles category, and include a variety of products in both THC- and CBD-dominant formats. In Canada, we expect similar growth beyond dried flower and oils, into food and beverage. Canopy Rivers believes that Herbert, equipped with existing R&D, marketing and manufacturing expertise, has the ability to enter this market quickly and achieve success in creating widely appealing THC-infused beverages and edibles under this new standalone brand.”
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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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