Canopy Rivers Inc. (TSX-V: RIV) (OTC: CNPOF) is pleased to share that its portfolio company, Agripharm Corp. (“Agripharm”), has received its outdoor cultivation license from Health Canada. Agripharm will be growing its first outdoor crop this summer at its Creemore, Ontario location using award-winning genetics.
“We are pleased to see Agripharm diversify its operations and increase its growing capacity with the grant of this outdoor cultivation licence,” said Oliver Dufourmantelle, Chief Operating Officer of Canopy Rivers. “Agripharm’s outdoor production is ahead of the curve with support from Green House Brands, which provides decades of experience in choosing, and successfully growing, the best genetics for open-air crops.”
Founded in 2013, Agripharm is home to both the first cannabis production facility built from the ground up and the first supercritical CO2 extraction lab in Canada. Agripharm is located in Creemore, Ontario, and operates out of an indoor facility that has been licensed for cannabis production since 2014. Agripharm is co-owned by SLANG Worldwide Inc. (CNSX: SLNG), Canopy Growth Corporation (TSX: WEED, NYSE: CGC) and Green House Holdings North America Inc. and received a strategic investment from Canopy Rivers. Agripharm has the exclusive Canadian rights to the intellectual property, strains and brands of Green House Seed Co., the preeminent global provider of cannabis genetics, and its sister brand Strain Hunters. Agripharm is also the Canadian distributor of SLANG Worldwide’s portfolio of leading U.S. consumer cannabis brands including, O.penVAPE, Bakked, District Edibles, and Magic Buzz.
“With access to strains optimized for outdoor production from the world’s leading genetics portfolio, Agripharm is well-positioned to significantly increase its production capacity for extraction,” continued Dufourmantelle. “Agripharm has robust internal extraction capabilities primed to bring SLANG Worldwide’s most popular U.S. consumer brands to the Canadian cannabis market.”
As a strategic partner of Agripharm, Canopy Rivers provided the capital to finance the build-out of Agripharm’s growing facilities in exchange for a long-term royalty interest subject to annual cash flow minimums. Canopy Rivers made its strategic investment in Agripharm in 2017, recognizing the strength of its extraction capabilities and its unique partnerships with Green House Seed Co. and SLANG Worldwide. For more information regarding the Company’s investment in Agripharm, please refer to the joint management information circular of Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.
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 Corporation (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.