TORONTO, July 9, 2019 /CNW/ - Canopy Rivers Inc.
("Canopy Rivers" or the "Company") (TSXV: RIV) (OTC:
CNPOF) congratulates its portfolio company, YSS Corp.
("YSS") (TSXV: YSS) (WKN: A2PMAX), on receiving five
cannabis retail licences from the Alberta Gaming, Liquor and
Cannabis Commission ("AGLC"). The five new licences are
located throughout Alberta and
will operate under the YSS™ brand name.
"YSS has made tremendous progress building up their retail
presence in Alberta – doubling
their current AGLC licensed stores to ten," said Narbe Alexandrian,
President and CEO of Canopy Rivers. "With plans to have all
ten stores open by the end of August, this announcement represents
positive momentum for YSS in the second half of
2019."
Canopy Rivers currently holds approximately 8% of the issued and
outstanding common shares in the capital of YSS on a fully-diluted
basis. For more information regarding Canopy Rivers' investment in
YSS, please refer to the joint management information circular of
Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities
regulators and available on the Company's profile on SEDAR at
www.sedar.com. For additional information about YSS, please refer
to YSS's profile on SEDAR or their website at
www.ysscorp.ca/investors.
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 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.
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 Canopy Rivers 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 operation of the 5 new licences under
the YSS™ brand name; YSS's plans to have ten
stores open by the end of August; YSS's positive momentum in the
second half of 2019; and other expectations for other economic,
business, and/or competitive factors.
Investors are cautioned that forward-looking information is
not based on historical facts 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 Canopy Rivers 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 Canopy Rivers. 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; YSS's ability have ten
stores open by the end of August; the ability to secure
distribution and sales channels; changes in general economic,
business and political conditions, including changes in the
financial markets; the global regulatory landscape and enforcement
related to cannabis, including political risks and risks relating
to regulatory change; risks relating to anti-money laundering laws;
compliance with extensive government regulation; public opinion and
perception of the cannabis industry; and the risk factors set out
in Canopy Rivers' final short form prospectus dated February 21, 2019, filed with Canadian securities
regulators and available on Canopy Rivers' 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 Canopy Rivers has
attempted to identify important risks, uncertainties and factors
which could cause actual results to differ materially, there may be
others that cause results not to be as anticipated, estimated or
intended. Canopy Rivers does not intend, and does not assume any
obligation, to update this forward-looking information except as
otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
View original content to download
multimedia:http://www.prnewswire.com/news-releases/canopy-rivers-portfolio-company-yss-receives-five-new-cannabis-retail-licences-in-alberta-300882009.html
SOURCE Canopy Rivers Inc.