Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital
firm specializing in cannabis, today announced a series of operational changes
designed to optimize its organizational structure, streamline operations, and
preserve and maximize cash-on-hand. According to the update, the company, as
part of its strategic and operational review of the business, is implementing
changes including a material reduction in the company’s operating cash
outflows; a focus on generating positive cash flow; and a focus on maximizing
returns on existing assets. In addition, the company today reaffirmed its
intention, under its previously announced normal course issuer bid (the
“NCIB”), to repurchase subordinated voting shares in accordance with its NCIB.
“We believe that sharpening our focus on financial discipline, operational
excellence, and opportunistic capital deployment on our investment pipeline
will yield long-term results for shareholders,” Canopy Rivers’ CEO and
President Narbe Alexandrian stated in the news release. “In addition, the
strategic utilization of our NCIB could be an important tool to provide
attractive returns to shareholders.”
To view the full press release, visit http://ibn.fm/KW3bT
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