TORONTO, July 8, 2019 /CNW/ – Cover Rivers Inc. (“Cover Rivers” or the “Firm“) (TSXV: RIV) (OTC: CNPOF) congratulates its portfolio firm TerrAscend Corp. (“TerrAscend“) (CSE: TER) (OTCQX: TRSSF) on its announcement immediately that it has acquired an modification to its licence from Well being Canada permitting for the sale of cannabis oils from its facility in Mississauga, Ontario. Gross sales of TerrAscend’s cannabis oils are set to start instantly by means of its medical market, Solace Well being. This information comes two months following TerrAscend’s announcement that it had been issued a Good Manufacturing Apply (GMP) certificates in accordance with the foundations governing medical merchandise within the European Union, together with establishing a gross sales and distribution settlement with iuvo Therapeutics GmbH, a German pharmaceutical wholesaler.
“With one other key milestone achieved by TerrAscend in a matter of some brief months, the corporate continues to show its ambition to develop into a world supplier of pharmaceutical-grade cannabis merchandise,” mentioned Narbe Alexandrian, President and CEO of Cover Rivers. “Hashish oil is gaining recognition in Canada, the US and in different rising world medical markets, and this gross sales licence allows TerrAscend to fulfill rising demand for non-combustible cannabis merchandise.”
In October 2018, to accommodate TerrAscend’s strategic pursuits internationally, together with choose alternatives in america, Cover Rivers agreed to restructure its funding and waive sure restrictive covenants that have been granted by TerrAscend, in reference to its unique funding. For extra info relating to Cover Rivers’ funding in TerrAscend, please seek advice from the ultimate prospectus of the Firm dated February 21, 2019, filed with Canadian securities regulators and obtainable on the Firm’s profile on SEDAR at www.sedar.com. For added details about TerrAscend, please seek advice from TerrAscend’s profile on SEDAR or their web site at www.terrascend.com.
About Cover Rivers:
Cover Rivers is a singular funding and working platform structured to pursue funding alternatives within the rising world cannabis sector. Cover Rivers works collaboratively with Cover Progress Company (TSX: WEED, NYSE: CGC) to determine strategic counterparties in search of monetary and/or working help. Cover Rivers has developed an funding ecosystem of complementary cannabis working corporations that symbolize varied segments of the worth chain throughout the rising cannabis sector. Because the portfolio continues to develop, constituents shall be supplied with alternatives to work with Cover Progress and collaborate amongst themselves, which Cover Rivers believes will maximize worth for its shareholders and foster an atmosphere of innovation, synergy and worth creation for your entire ecosystem. For extra info, please go to www.canopyrivers.com.
This information launch incorporates statements which represent “forward-looking info” inside the that means of relevant securities legal guidelines, together with statements relating to the plans, intentions, beliefs and present expectations of Cover Rivers with respect to future enterprise actions and working efficiency. Ahead-looking info is commonly recognized by the phrases “might”, “would”, “might”, “ought to”, “will”, “intend”, “plan”, “anticipate”, “consider”, “estimate”, “count on” or comparable expressions and consists of info relating to: the sale of cannabis oils; TerrAscend turning into a world supplier of pharmaceutical-grade cannabis merchandise; the gross sales licence enabling TerrAscend to fulfill rising demand for non-combustible cannabis merchandise; ; and different expectations for different financial, enterprise, and/or aggressive elements.
Buyers are cautioned that forward-looking info just isn’t based mostly on historic info however as an alternative displays administration’s expectations, estimates or projections regarding future outcomes or occasions based mostly on the opinions, assumptions and estimates of administration thought of cheap on the date the statements are made. Though Cover Rivers believes that the expectations mirrored in such forward-looking info are cheap, such info entails dangers and uncertainties, and undue reliance shouldn’t be positioned on such info, as unknown or unpredictable elements might have materials adversarial results on future outcomes, efficiency or achievements of Cover Rivers. Among the many key elements that would trigger precise outcomes to vary materially from these projected within the forward-looking info are the next: regulatory and licensing dangers; competitors for world, regulated cannabis alternatives; cannabis oil recognition in Canada and rising world medical markets; modifications generally financial, enterprise and political circumstances, together with modifications within the monetary markets; the worldwide regulatory panorama and enforcement associated to cannabis, together with political dangers and dangers referring to regulatory change; dangers referring to anti-money laundering legal guidelines; compliance with in depth authorities regulation; public opinion and notion of the cannabis business; and the danger elements set out in Cover Rivers’ last brief kind prospectus dated February 21, 2019, filed with Canadian securities regulators and obtainable on Cover Rivers’ profile on SEDAR at www.sedar.com.
Ought to a number of of those dangers or uncertainties materialize, or ought to assumptions underlying the forward-looking info show incorrect, precise outcomes might fluctuate materially from these described herein as meant, deliberate, anticipated, believed, estimated or anticipated. Though Cover Rivers has tried to determine essential dangers, uncertainties and elements which might trigger precise outcomes to vary materially, there could also be others that trigger outcomes to not be as anticipated, estimated or meant. Cover Rivers doesn’t intend, and doesn’t assume any obligation, to replace this forward-looking info besides as in any other case required by relevant legislation.
Neither the TSX Enterprise Alternate nor its Regulation Companies Supplier (as that time period is outlined within the insurance policies of the TSX Enterprise Alternate) accepts duty for the adequacy or accuracy of this launch.
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SOURCE Cover Rivers Inc.
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Cover Rivers Inc., Karoline Hunter, Sr. Director, Investor Relations & Communications, E-mail: [email protected] CNW Group 2019