NetworkNewsBreaks – Canopy Rivers Inc.’s (TSX.
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Posted On: 05/09/2019 4:47:38 PM
NetworkNewsBreaks – Canopy Rivers Inc.’s (TSX.V: RIV) (OTC: CNPOF) PharmHouse Enters Significant Supply, Offtake Agreement with Canopy Growth Corp. (TSX: WEED) (NYSE: CGC)
Dynamic plant-based food and beverage company Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) today announced that its 49 percent-owned portfolio company, PharmHouse Inc., has entered into a second offtake agreement with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) for the purchase of cannabis from its 1.3 million square foot greenhouse facility upon licensing. According to the update, the agreement commits an additional 20 percent of PharmHouse’s flowering space, in addition to the 10 percent originally committed in May 2018, to Canopy Growth for the next three years. The agreement provides for the delivery to Canopy Growth a minimum of 25,000 kg and maximum of 45,000 kg of cannabis per year. “PharmHouse continues to show tremendous progress at the facility, and the joint venture is quickly developing as a key pillar for value creation and synergy within the Canopy Rivers portfolio ecosystem,” Canopy Rivers COO Olivier Dufourmantelle said in the news release. “Thanks to the collaborative contributions of our joint venture partners, the ongoing support and guidance of Canopy Rivers, and the strategic insight of Canopy Growth throughout the licensing process, we are excited to announce an incremental supply partnership that mutually benefits all three parties.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Dynamic plant-based food and beverage company Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) today announced that its 49 percent-owned portfolio company, PharmHouse Inc., has entered into a second offtake agreement with Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) for the purchase of cannabis from its 1.3 million square foot greenhouse facility upon licensing. According to the update, the agreement commits an additional 20 percent of PharmHouse’s flowering space, in addition to the 10 percent originally committed in May 2018, to Canopy Growth for the next three years. The agreement provides for the delivery to Canopy Growth a minimum of 25,000 kg and maximum of 45,000 kg of cannabis per year. “PharmHouse continues to show tremendous progress at the facility, and the joint venture is quickly developing as a key pillar for value creation and synergy within the Canopy Rivers portfolio ecosystem,” Canopy Rivers COO Olivier Dufourmantelle said in the news release. “Thanks to the collaborative contributions of our joint venture partners, the ongoing support and guidance of Canopy Rivers, and the strategic insight of Canopy Growth throughout the licensing process, we are excited to announce an incremental supply partnership that mutually benefits all three parties.”
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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