Asha Daniere
appointed Chair, Constellation Brands' CFO Garth Hankinson elected to Board of
Directors
TORONTO, Sept. 24, 2020 /CNW/ - Canopy Rivers Inc.
(the "Company") (TSX: RIV) (OTC: CNPOF) announced the voting
results of its annual general and special meeting of shareholders
(the "Meeting") held today.
In total, 59,090,152 of the Company's issued and outstanding
subordinated voting shares (each carrying one vote per share) and
36,468,318 of the Company's issued and outstanding multiple voting
shares (each carrying 20 votes per share), representing 89.104% of
the votes attached to all outstanding shares of the Company, were
represented in person or by proxy at the Meeting.
Shareholders voted in favour of each of the items of business
before the Meeting, including the election of the director nominees
listed in the Company's management information circular. This
included the election of Garth
Hankinson to the Company's Board of Directors (the
"Board"). Mr. Hankinson currently serves as Executive
Vice-President and Chief Financial Officer of Constellation Brands,
Inc. John Bell, the former Chair of
the Board, did not seek re-election at the Meeting.
"We thank John for his commitment and dedication to Canopy
Rivers. His experience and guidance have been invaluable as we
navigated the early days of the cannabis sector," said Narbe
Alexandrian, President and CEO, Canopy Rivers. "We are also excited
to welcome Garth to our Board. We believe that his expertise in
finance and M&A will benefit both Canopy Rivers and our
portfolio."
Following the Meeting, the directors elected Asha Daniere as Chair of the Board. Ms. Daniere
has served on the Board since September
2018 and has chaired both the Compensation, Nominating, and
Governance Committee and Conflicts Review Committee of the Board.
She also serves as Chair of the Special Committee of the Board
reviewing the Company's investment in PharmHouse. Joseph Mimran will assume the role of Chair of
the Compensation, Nominating, and Governance Committee of the
Board.
"I am excited to take on the role of Chair of the Board at this
pivotal time for Canopy Rivers," said Ms. Daniere. "I look forward
to working closely with the Board and management as we aim to
execute on our fiscal 2021 strategy and deliver value to
shareholders."
The results for the election of directors at the Meeting were as
follows:
Director
Nominee
|
Votes cast
FOR
|
% votes cast
FOR
|
Votes
WITHHELD
|
% votes
WITHHELD
|
Narbe
Alexandrian
|
771,035,464
|
99.12%
|
6,842,733
|
0.88%
|
Asha
Daniere
|
777,628,169
|
99.968%
|
250,028
|
0.032%
|
Garth
Hankinson
|
771,861,017
|
99.226%
|
6,017,180
|
0.774%
|
Mike Lee
|
771,865,664
|
99.227%
|
6,012,533
|
0.773%
|
Richard
Mavrinac
|
777,659,936
|
99.972%
|
218,261
|
0.028%
|
Joseph
Mimran
|
777,660,341
|
99.972%
|
217,856
|
0.028%
|
For detailed voting results on each item of business at the
Meeting, please refer to the Company's Report of Voting Results
available under the Company's profile on SEDAR at
www.sedar.com.
About Canopy Rivers
Canopy Rivers is a venture capital
firm specializing in cannabis with a portfolio of 18 companies
across various segments of the cannabis value chain. We believe
that bringing together people, capital, and ideas raises the
potential of the entire cannabis industry. By leveraging our
industry insights, in-house expertise, and thesis-driven approach
to investing, we aim to provide shareholders with exposure to
specialized and disruptive cannabis companies. Our 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 our portfolio, we are
helping build the cannabis industry of tomorrow, today.
Forward Looking Statements
This news release
contains statements which constitute "forward-looking information"
within the meaning of applicable securities laws, including
statements regarding the plans, intentions, beliefs and current
expectations of the Company with respect to future business
activities and operating performance. Forward-looking information
is often identified by the words "may", "would", "could", "should",
"will", "intend", "plan", "anticipate", "believe", "estimate",
"expect" or similar expressions and includes information regarding
the Company's belief that Mr. Hankinson's election to the Board
will benefit both the Company and its portfolio; the intention of
the Board Chair to work closely with the Board and management of
Canopy Rivers to execute on their fiscal 2021 strategy and deliver
value to shareholders; and expectations for other economic,
business, and/or competitive factors.
Investors are cautioned that forward-looking information is
not based on historical fact but instead reflects management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although the Company believes that the expectations reflected
in such forward-looking information are reasonable, such
information involves risks and uncertainties, and undue reliance
should not be placed on such information, as unknown or
unpredictable factors could have material adverse effects on future
results, performance or achievements of the Company. Among the key
factors that could cause actual results to differ materially from
those projected in the forward-looking information are the
following: regulatory and licensing risks; competition risks;
changes in cannabis industry growth and trends; changes in the
business activities, focus and plans of the Company; stock market
volatility; changes in general economic, business and political
conditions, including challenging global financial conditions and
the impact of the novel coronavirus pandemic; potential conflicts
of interest; the regulatory landscape and enforcement related to
cannabis, including political risks and risks relating to
regulatory change; changes in the Company's relationship with
Canopy Growth Corporation and its investees; counterparty risks,
including risks associated with joint venture arrangements; risks
associated with the termination, renegotiation and enforcement of
material contracts; credit, liquidity and additional financing
risks; changes in applicable laws; compliance with extensive
government regulation, including the Company's interpretation of
such regulation; changes in the global sentiment towards, and
public opinion of, the cannabis industry; divestiture risks; and
the risk factors set out in the Company's most recent annual
information form and management's discussion and analysis, filed
with the Canadian securities regulators and available on the
Company's profile on SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors that could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
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SOURCE Canopy Rivers Inc.