Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, today provided details surrounding its investment in connection with a financing announced October 2, 2019. According to the update, Canopy Rivers has acquired ownership and control over (i) $13,243,000 principal amount of unsecured convertible debentures of TerrAscend Canada Inc. (the “Debentures”); and (ii) 333,723 common share purchase warrants of TerrAscend (the “Warrants”). The Debentures’ principal amount is convertible into fully paid and non-assessable common shares or exchangeable shares of TerrAscend at the holder’s option, or upon the occurrence of certain events, at a conversion price of $5.95 per share. The Debentures mature on October 2, 2024 and bear a per-annum interest rate of 6%.
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About Canopy Rivers Inc.
Canopy Rivers is a unique investment and operating platform 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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