TORONTO, Sept. 10, 2019 /CNW/ - Canopy Rivers Inc. (the
"Company" or "Canopy Rivers") (TSX: RIV) (OTC:
CNPOF), a venture capital firm specializing in cannabis, is pleased
to share that its portfolio company Herbert Works Ltd.
("Herbert Works") has
received its research and development (R&D) licence from Health
Canada to develop branded cannabis-infused beverages.
"This announcement represents a significant milestone for
Herbert Works as the company
continues to move quickly toward the development of exceptional and
widely appealing THC-infused beverages," said Narbe Alexandrian,
President and CEO of Canopy Rivers. "It's a timely achievement, as
the next wave of cannabis legalization in Canada will unlock these new product offerings
in a matter of months. We believe that Herbert Works is in a prime position to
capitalize on the growth opportunities that 'Cannabis 2.0' presents
for consumers that are eager to try cannabis in different
formats."
Herbert Works' mission is to
combine advanced technology with its knowledge and
appreciation of the experience-enhancing properties of cannabis to
create products specifically designed around consumers' many
lifestyle needs. Canopy Rivers currently holds 23% of the equity of
Herbert Works on a fully diluted
basis (excluding a control warrant). For more information regarding
Canopy Rivers' investment in Herbert
Works, please refer to the Company's annual information form
dated July 15, 2019 ("AIF")
filed with the Canadian securities regulators and available on the
Company's profile on SEDAR at www.sedar.com.
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 identifies 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 Corporation (TSX: WEED,
NYSE: CGC) 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: Herbert
Works' ability to develop exceptional, widely appealing
THC-infused beverages; the expectation that the next wave of
cannabis legalization will unlock new product offerings in a matter
of months; management's belief that Herbert is in a prime position
to capitalize on the growth opportunities presented by 'Cannabis
2.0'; 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 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; changes in Herbert Works' ability to develop THC-infused
beverages; Herbert Works' actual
ability to capitalize on growth opportunities; changes in consumer
preferences and demands and the product offerings available to
consumers; 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'
AIF, filed with the 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
that 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.
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SOURCE Canopy Rivers Inc.