Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, this morning announced that its portfolio company, Radicle Medical Marijuana Inc., has received approval for oil sales from Health Canada. The additional license allows for the development and sale of new cannabis products, including oil and concentrates, which will open the door for Radicle’s medical patients to access other product forms in the company’s craft cannabis selection. “Consumer behaviors are evolving, and we believe many of today’s cannabis consumers are open to trying alternatives to dried flower products,” Canopy Rivers President and CEO Narbé Alexandrian said in the news release. “With its Health Canada approval for the sale of formulated oil products, Radicle is well positioned to capitalize on this demand while maintaining its commitment to the production of premium, small-batch craft cannabis.”
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About Canopy Rivers Inc.
Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) and collaborate among themselves, which Canopy Rivers believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem. For more information, visit the company’s website at www.CanopyRivers.com.
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