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NetworkNewsBreaks – RIV Capital Inc. (formerly Canopy Rivers Inc.) (TSX: RIV) (OTC: CNPOF) Closes Plan of Arrangement to Pave Way for U.S. Market Entry

Company: RIV Capital Inc. (CNPOF)
Category: News

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.

To view the full press release, visit https://nnw.fm/fANZa

About RIV Capital Inc.

RIV Capital is an investment and acquisition company specializing in cannabis with a portfolio of 14 companies across various segments of the cannabis value chain. The company 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, RIV Capital aims to provide shareholders with exposure to specialized and disruptive cannabis companies.

NOTE TO INVESTORS: The latest news and updates relating to RIV Capital are available in the company’s newsroom at http://nnw.fm/CNPOF

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