Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital
firm specializing in cannabis, today announced that its 49%-owned joint venture
in Leamington, Ontario, PharmHouse Inc., amended its syndicated credit facility
(“Credit Facility”) with the Bank of Montreal (“BMO”), as the agent and lead
lender, and the Canadian Imperial Bank of Commerce and Concentra Bank (together
with BMO, the “Lenders”). According to the update, the amended terms provide
PharmHouse with an additional $10 million of secured debt financing,
representing an increase to the Credit Facility that was initially announced in
January 2019. “This incremental debt financing, which comes at a time of
significant constraint in capital markets generally, is a testament to the
momentum that our joint venture has been building for the past two years,”
Canopy Rivers Chief Financial Officer Eddie Lucarelli stated in the news
release. “We believe that it signifies the growing confidence that leading
financial institutions have in the quality of the cultivation platform that has
been built, the expertise of our partners, and PharmHouse’s long-term role in
the global cannabis sector.”
To view the full press release, visit http://ibn.fm/fpEYP
About Canopy Rivers
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 portfolio. For more
information, visit www.CanopyRivers.com.
NOTE TO INVESTORS: The latest news and updates
relating to CNPOF are available in the company’s newsroom at http://ibn.fm/CNPOF
About QualityStocksNewsBreaks
QualityStocksNewsBreaks provide
a rapid summary of corporate news that catch the attention of QualityStocks.
QualityStocksBreaks are designed to keep investors up to date on important and
breaking news in the small-cap and micro-cap markets. Spanning all industries,
including energy, entertainment, telecommunications, healthcare, retail and
more, these news breaks deliver opportunities the investment community may have
missed. Whether it is earnings results, mergers and acquisitions, or any other
market-moving news, our news breaks keep you in the know. QualityStocks is
committed to connecting subscribers with companies that have huge potential to
succeed in the short and long-term future. It is part of our mission statement
to help the investment community discover emerging companies that offer
excellent growth potential.
QualityStocks (QS)
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Scottsdale, Arizona
www.QualityStocks.com
480.374.1336 Office
Editor@QualityStocks.com
Please see full terms of use and disclaimers on the
QualityStocks website applicable to all content provided by QS, wherever
published or re-republished: http://www.qualitystocks.net/disclaimer.php
No comments:
Post a Comment