NetworkNewsBreaks – Canopy Rivers Inc. (TSX: RIV
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Posted On: 05/28/2020 3:42:52 PM
NetworkNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Implements Changes as Part of Strategic and Operational Review of Business
Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today announced a series of operational changes designed to optimize its organizational structure, streamline operations, and preserve and maximize cash-on-hand. According to the update, the company, as part of its strategic and operational review of the business, is implementing changes including a material reduction in the company’s operating cash outflows; a focus on generating positive cash flow; and a focus on maximizing returns on existing assets. In addition, the company today reaffirmed its intention, under its previously announced normal course issuer bid (the “NCIB”), to repurchase subordinated voting shares in accordance with its NCIB. “We believe that sharpening our focus on financial discipline, operational excellence, and opportunistic capital deployment on our investment pipeline will yield long-term results for shareholders,” Canopy Rivers’ CEO and President Narbe Alexandrian stated in the news release. “In addition, the strategic utilization of our NCIB could be an important tool to provide attractive returns to shareholders.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today announced a series of operational changes designed to optimize its organizational structure, streamline operations, and preserve and maximize cash-on-hand. According to the update, the company, as part of its strategic and operational review of the business, is implementing changes including a material reduction in the company’s operating cash outflows; a focus on generating positive cash flow; and a focus on maximizing returns on existing assets. In addition, the company today reaffirmed its intention, under its previously announced normal course issuer bid (the “NCIB”), to repurchase subordinated voting shares in accordance with its NCIB. “We believe that sharpening our focus on financial discipline, operational excellence, and opportunistic capital deployment on our investment pipeline will yield long-term results for shareholders,” Canopy Rivers’ CEO and President Narbe Alexandrian stated in the news release. “In addition, the strategic utilization of our NCIB could be an important tool to provide attractive returns to shareholders.”
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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