Bruce Linton to
Continue as Chairman of the Board
TORONTO, May 22, 2019 /CNW/ - Canopy Rivers Inc. (the
"Company" or "Canopy Rivers") (TSXV: RIV) today
announced the promotion of former OMERS venture capitalist and
Canopy Rivers President, Mr. Narbé Alexandrian, to Chief Executive
Officer of the Company, effective immediately. Bruce Linton has transitioned from his role as
acting CEO and will continue to provide oversight, deal flow,
strategic insight, and opportunities for collaboration and further
strategic alignment with Canopy Growth in conjunction with his
ongoing role as Chairman of the Canopy Rivers Board of
Directors.
"I am extremely proud of what Canopy Rivers has accomplished
since the Company's inception and Canopy Growth's initial seed
investment. We first invested in Canopy Rivers on the thesis that
our equity and strategic support relationship would provide Canopy
Growth with exposure to a diversified portfolio of cannabis
investments in specialized and innovative businesses throughout the
global cannabis industry. Today, Canopy Rivers has a
diversified and integrated portfolio of 17 domestic and
international investments that includes exposure to the majority of
the industry value chain. These businesses collaborate and
draw insight from each other and Canopy Growth such that the entire
Canopy ecosystem of companies can navigate the industry more
efficiently and cost effectively," said Bruce Linton, Co-CEO of Canopy Growth and
Chairman of Canopy Rivers. "We have aspired to build the Canopy
Rivers team using the same approach we use to build our portfolio -
by identifying specialists with diversified but complementary
skillsets and having them leverage their individual areas of
expertise to create value for our portfolio partners and
shareholders," continued Linton. "After working directly with
Narbe and seeing him excel in several internal roles since we
recruited him from OMERS, the Board of Directors and I believe that
he is the ideal candidate to lead the Company going forward to
continue to build value for all Canopy Rivers shareholders."
"I would like to thank Bruce, the Board of Directors, and the
entire team at Canopy Rivers for the privilege and opportunity to
build upon the impressive portfolio and platform that has been
developed to date," said Narbé Alexandrian, President and CEO of
Canopy Rivers. "With the global cannabis economy continuing to
evolve and expand at a lightspeed pace, I am both humbled and
thrilled to have been chosen to lead the Company at this incredibly
important juncture," continued Alexandrian. "Canopy Rivers is
committed to being the world's preeminent cannabis-focused
investment and strategic support platform by providing diverse,
thesis-driven exposure to the cutting edge of the cannabis value
chain, working collaboratively and transparently with our investors
and portfolio companies, and generating superior long-term
investment returns for our shareholders. I have every confidence we
can realize each of these goals, and we welcome the challenge."
Prior to joining Canopy Rivers, Narbe was a venture capitalist
at OMERS Ventures, where he sourced and lead private debt and
equity investments, raised more than $500
million of new investment capital, and acted as a board
observer for several of the firm's portfolio companies. Prior to
OMERS Ventures, Narbe was at TELUS' Internet of Things Group, where
he helped develop and launch operational and go-to-market
strategies in collaboration with the TELUS executive leadership
team. Narbe has also held roles at Firmex Inc. in corporate
development and Deloitte LLP in both Financial Advisory and
Consulting.
With a tier one management and advisory team of specialists and
thought leaders, a cornerstone investment and strategic support
relationship with global industry leader Canopy Growth, and a
thriving ecosystem of portfolio companies, Canopy Rivers is
well-situated to capitalize on the expansive universe of
opportunities in the global cannabis industry. Canopy Rivers
currently has 17 domestic and international portfolio companies
that span almost the entirety of the cannabis value chain,
including significant, legally compliant exposure to the rapidly
expanding and attractive U.S. market.
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 (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 ability of the Canopy ecosystem of
companies to navigate the industry efficiently and cost
effectively; the creation of value for the Company's portfolio
partners and shareholders; the evolution of the global cannabis
economy; the ability to become the world's preeminent
cannabis-focused investment and strategic support platform; the
ability to generate shareholder returns; the Company's ability to
capitalize on opportunities in the cannabis industry; the rapid
expansion and attractiveness of the U.S. cannabis market 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; conflicts of interest;
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.
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SOURCE Canopy Rivers Inc.