Canopy Rivers (TSX: RIV) (OTC: CNPOF) on Monday announced that the most recent addition to its portfolio of disruptive cannabis companies, Dynaleo Inc., has received its Standard Processing License from Health Canada. According to the update, this follows the completion and commissioning of Dynaleo’s 27,000 square foot purpose-built facility and is a key milestone as it aims to ramp up production of white label gummies for the Canadian recreational market. “We are thrilled with the momentum at Dynaleo,” Narbé Alexandrian, president and CEO of Canopy Rivers, stated in the news release. “Data shows that the total addressable market for edibles, and specifically gummies, remains large. Licensed producers haven’t yet been able to scale their production to meet consumer demand for this product category, and brand loyalty has not yet been achieved the same way we have seen in mature U.S. markets for similar products. We believe that Dynaleo will be a key partner in manufacturing gummies brands that will be leaders in the 2.0 market.”
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About Canopy Rivers
Canopy Rivers is a venture capital firm specializing in cannabis with a portfolio of 18 companies across various segments of the cannabis value chain. Canopy Rivers believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging its industry insights, in-house expertise, and thesis-driven approach to investing, Canopy Rivers aims to provide shareholders with exposure to specialized and disruptive cannabis companies. The company’s mission is to invest in innovators across the cannabis value chain, help them grow, and ultimately create value by guiding these companies towards a monetization event. Together with its portfolio, Canopy Rivers is helping build the cannabis industry of tomorrow, today. For more information, visit www.CanopyRivers.com.
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