Canopy Rivers Inc. (TSX-V: RIV) (OTC: CNPOF) today announced the promotion of former OMERS venture capitalist and Canopy Rivers President, Mr. Narbé Alexandrian, to Chief Executive Officer of the Company, effective immediately. Bruce Linton has transitioned from his role as acting CEO and will continue to provide oversight, deal flow, strategic insight, and opportunities for collaboration and further strategic alignment with Canopy Growth in conjunction with his ongoing role as Chairman of the Canopy Rivers Board of Directors.
“I am extremely proud of what Canopy Rivers has accomplished since the Company’s inception and Canopy Growth’s initial seed investment. We first invested in Canopy Rivers on the thesis that our equity and strategic support relationship would provide Canopy Growth with exposure to a diversified portfolio of cannabis investments in specialized and innovative businesses throughout the global cannabis industry. Today, Canopy Rivers has a diversified and integrated portfolio of 17 domestic and international investments that includes exposure to the majority of the industry value chain. These businesses collaborate and draw insight from each other and Canopy Growth such that the entire Canopy ecosystem of companies can navigate the industry more efficiently and cost effectively,” said Bruce Linton, Co-CEO of Canopy Growth and Chairman of Canopy Rivers. “We have aspired to build the Canopy Rivers team using the same approach we use to build our portfolio – by identifying specialists with diversified but complementary skillsets and having them leverage their individual areas of expertise to create value for our portfolio partners and shareholders,” continued Linton. “After working directly with Narbe and seeing him excel in several internal roles since we recruited him from OMERS, the Board of Directors and I believe that he is the ideal candidate to lead the Company going forward to continue to build value for all Canopy Rivers shareholders.”
“I would like to thank Bruce, the Board of Directors, and the entire team at Canopy Rivers for the privilege and opportunity to build upon the impressive portfolio and platform that has been developed to date,” said Narbé Alexandrian, President and CEO of Canopy Rivers. “With the global cannabis economy continuing to evolve and expand at a lightspeed pace, I am both humbled and thrilled to have been chosen to lead the Company at this incredibly important juncture,” continued Alexandrian. “Canopy Rivers is committed to being the world’s preeminent cannabis-focused investment and strategic support platform by providing diverse, thesis-driven exposure to the cutting edge of the cannabis value chain, working collaboratively and transparently with our investors and portfolio companies, and generating superior long-term investment returns for our shareholders. I have every confidence we can realize each of these goals, and we welcome the challenge.”
Prior to joining Canopy Rivers, Narbe was a venture capitalist at OMERS Ventures, where he sourced and lead private debt and equity investments, raised more than $500 million of new investment capital, and acted as a board observer for several of the firm’s portfolio companies. Prior to OMERS Ventures, Narbe was at TELUS’ Internet of Things Group, where he helped develop and launch operational and go-to-market strategies in collaboration with the TELUS executive leadership team. Narbe has also held roles at Firmex Inc. in corporate development and Deloitte LLP in both Financial Advisory and Consulting.
With a tier one management and advisory team of specialists and thought leaders, a cornerstone investment and strategic support relationship with global industry leader Canopy Growth, and a thriving ecosystem of portfolio companies, Canopy Rivers is well-situated to capitalize on the expansive universe of opportunities in the global cannabis industry. Canopy Rivers currently has 17 domestic and international portfolio companies that span almost the entirety of the cannabis value chain, including significant, legally compliant exposure to the rapidly expanding and attractive U.S. market.
About Canopy Rivers:
Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers works collaboratively with Canopy Growth (TSX: WEED,NYSE: CGC) to identify 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 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 ecosystem.