NetworkNewsBreaks – RIV Capital Inc. (formerly C
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Posted On: 02/23/2021 3:49:40 PM
NetworkNewsBreaks – RIV Capital Inc. (formerly Canopy Rivers Inc.) (TSX: RIV) (OTC: CNPOF) Closes Plan of Arrangement to Pave Way for U.S. Market Entry
RIV Capital (formerly Canopy Rivers) (TSX: RIV) (OTC: CNPOF) has completed the previously announced plan of arrangement involving Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC). Under the arrangement, RIV Capital, through its wholly-owned subsidiary, RIV Capital Corporation (formerly Canopy Rivers Corporation), transferred its interests in TerrAscend Corp., TerrAscend Canada Inc., Les Serres Vert Cannabis Inc. (“Vert Mirabel”) (other than the shares transferred to Serres Bertrand), and The Tweed Tree Lot Inc. (collectively, the “transferred assets”) to Canopy Growth. The assets were transferred in exchange for approximately $115 million in cash, 3,647,902 common shares of Canopy Growth (having a value of approximately $170.3 million as at the close of trading on the Toronto Stock Exchange (the “TSX”) on Feb. 22, 2021), and the cancellation of all 36,468,318 multiple voting shares (“MVS”) and 15,223,938 subordinate voting shares (“SVS”) of RIV Capital held by Canopy Growth.
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RIV Capital (formerly Canopy Rivers) (TSX: RIV) (OTC: CNPOF) has completed the previously announced plan of arrangement involving Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC). Under the arrangement, RIV Capital, through its wholly-owned subsidiary, RIV Capital Corporation (formerly Canopy Rivers Corporation), transferred its interests in TerrAscend Corp., TerrAscend Canada Inc., Les Serres Vert Cannabis Inc. (“Vert Mirabel”) (other than the shares transferred to Serres Bertrand), and The Tweed Tree Lot Inc. (collectively, the “transferred assets”) to Canopy Growth. The assets were transferred in exchange for approximately $115 million in cash, 3,647,902 common shares of Canopy Growth (having a value of approximately $170.3 million as at the close of trading on the Toronto Stock Exchange (the “TSX”) on Feb. 22, 2021), and the cancellation of all 36,468,318 multiple voting shares (“MVS”) and 15,223,938 subordinate voting shares (“SVS”) of RIV Capital held by Canopy Growth.
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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