NetworkNewsBreaks – Canopy Rivers Inc. (TSX.V: R
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Posted On: 02/04/2019 4:58:10 PM
NetworkNewsBreaks – Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) Completes Additional Investment in Canapar Corp., Expands Ownership Stake to 49 Percent
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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