Toronto, Aug. 23, 2018 — /D.M.O. Newswire/ — Canopy Rivers Corporation (“Canopy Rivers”), the venture capital investment platform of Canopy Development Corporation (TSX:WEED) (NYSE:CGC) (“Canopy Growth”), is pleased to announce that it has set a date of September 12, 2018, for its upcoming shareholder meeting in connection with the proposed small business mixture involving AIM2 Ventures Inc. (“AIM2”) and Canopy Rivers (the “Go Public Transaction”).
As previously announced, Canopy Rivers has entered into a definitive amalgamation agreement with AIM2, which outlines the terms and situations pursuant to which the parties will total the Go Public Transaction. The Go Public Transaction will outcome in a reverse take-more than of AIM2 by Canopy Rivers and will constitute AIM2’s “Qualifying Transaction” beneath Policy two.four – Capital Pool Providers of the TSXV Corporate Finance Manual.
Topic to receipt of all expected approvals, which includes the final approval of the TSX Venture Exchange (the “TSXV”), the Go Public Transaction is anticipated to close and the subordinated voting shares of the resulting issuer are anticipated to commence trading on the TSXV beneath the symbol “RIV” for the duration of the week of September 17, 2018.
“With Canopy Rivers, we are effectively-positioned to take benefit of the universe of investment possibilities unfolding globally in the ever-expanding cannabis economy,” mentioned Bruce Linton, Chairman and acting CEO of Canopy Rivers, and co-CEO of Canopy Development. “The strategic connection with Canopy Development, robust management and access to capital will allow Canopy Rivers to construct upon a verified track record and continue to create a major ecosystem of cannabis providers across the whole cannabis worth chain.”
To date, Canopy Rivers has created investments in eleven domestic and international providers, establishing a diversified portfolio of licensed producers, late stage licensed producer applicants, pharmaceutical formulators, brand developers and distributors, retail networks, and technologies and media platforms.
As previously announced, topic to the satisfaction of specific escrow release situations, the net proceeds from Canopy Rivers’ $104 million subscription receipt financing are anticipated to be released from escrow in connection with the closing of the Go Public Transaction. The oversubscribed private placement, which was co-led by CIBC Capital Markets, GMP Securities L.P. and Eight Capital, on behalf of a syndicate of agents which includes Cormark Securities Inc., INFOR Economic Inc. and PI Economic Corp., closed on July six, 2018.
About Canopy Rivers:
Canopy Rivers is a one of a kind investment and operating platform structured to pursue investment possibilities in the emerging worldwide cannabis sector. Canopy Rivers operates collaboratively with Canopy Development (TSX:WEED, NYSE: CGC) to determine strategic counterparties looking for economic and/or operating assistance. Canopy Rivers has created an investment ecosystem of complementary cannabis operating providers that represent numerous segments of the worth chain across the emerging cannabis sector. As the portfolio continues to create, constituents will be supplied with possibilities to perform with Canopy Development and collaborate amongst themselves, which Canopy Rivers believes will maximize worth for its shareholders and foster an atmosphere of innovation, synergy and worth creation for the whole ecosystem.
Cautionary Note Concerning Forward-Hunting Info
This press release includes statements which constitute “forward-searching information” inside the which means of applicable securities laws, which includes statements with regards to the plans, intentions, beliefs and existing expectations of Canopy Rivers with respect to future small business activities and operating functionality. Forward-searching details is usually identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or related expressions and contains details with regards to: the timing for the closing of the Go Public Transaction and the commencement of trading of the subordinated voting shares of the resulting issuer the timing and anticipated release of the net proceeds from the subscription receipt financing Canopy Rivers’ position and chance in the cannabis economy the capability to construct a major ecosystem of cannabis providers and the anticipated positive aspects to be obtained by Canopy Rivers’ portfolio providers. Investors are cautioned that forward-searching details is not primarily based on historical information but rather reflect Canopy Rivers’ management’s expectations, estimates or projections regarding future outcomes or events primarily based on the opinions, assumptions and estimates of management thought of affordable at the date the statements are created. Though Canopy Rivers believes that the expectations reflected in such forward-searching details are affordable, such details entails dangers and uncertainties, and undue reliance ought to not be placed on such details, as unknown or unpredictable elements could have material adverse effects on future outcomes, functionality or achievements of the combined firm. Amongst the important elements that could trigger actual outcomes to differ materially from these projected in the forward-searching details are the following: the capability to consummate the Go Public Transaction feasible termination of the amalgamation agreement the capability to get requisite regulatory and shareholder approvals and the satisfaction of other situations to the consummation of the Go Public Transaction on the proposed terms and schedule the possible influence of the announcement or consummation of the Go Public Transaction on relationships, which includes with regulatory bodies, workers, suppliers, clients and competitors the re-rating possible following the consummation of the Go Public Transaction adjustments in basic financial, small business and political situations, which includes adjustments in the economic markets adjustments in applicable laws, which includes the approval and implementation of the Cannabis Act compliance with comprehensive government regulation and the diversion of management time on the Go Public Transaction. This forward-searching details might be impacted by dangers and uncertainties in the small business of Canopy Rivers and marketplace situations.
Really should a single or a lot more of these dangers or uncertainties materialize, or ought to assumptions underlying the forward-searching details prove incorrect, actual outcomes might differ materially from these described herein as intended, planned, anticipated, believed, estimated or anticipated. Though Canopy Rivers has attempted to determine crucial dangers, uncertainties and elements which could trigger actual outcomes to differ materially, there might be other people that trigger outcomes not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-searching details except as otherwise expected by applicable law.