Cannabis-focused investment and operating firm Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) this morning announced its completion of a subsequent $9.4 million equity investment in portfolio company Canapar Corp. (“Canapar Canada”), the Canadian parent corporation of Italian organic hemp production and processing platform Canapar SrL (“Canapar Italy”). Per the update, this investment aligns with Canopy’s globally-focused growth strategy and is expected to provide the company with an opportunity to capitalize on the rapidly expanding European cannabidiol market. With its most recent investment, Canopy’s ownership position in Canapar Canada has expanded to 49 percent on a non-diluted basis. “Canopy Rivers’ investment in Canapar represents a clear validation of our ability to execute on our strategy and the market opportunity in Europe,” Sergio Martines, CEO of Canapar Italy, stated in the news release. “We expect to leverage this financing to enhance value for all stakeholders in Canapar and we look forward to a long-term partnership with Canopy Rivers.”
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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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