Canopy Rivers Inc. (TSX-V: RIV) (OTC: CNPOF) is pleased to share that its portfolio companies, James E. Wagner Cultivation Corporation (“JWC“) (TSXV: JWCA) (OTCQX: JWCAF) and TerrAscend Corp. (“TerrAscend“) (CSE: TER) (OTCQX: TRSSF), have entered into a purchase and supply agreement, demonstrating the type of collaboration and synergy seen throughout the Canopy Rivers ecosystem. As part of the agreement, JWC will supply cannabis flower and oils to TerrAscend, which will be made available for purchase on TerrAscend’s online medical sales platform, Solace Health, providing JWC with exposure to thousands of registered medical patients across Canada.
This partnership was developed in collaboration with the Canopy Rivers Impact Team, a group specifically focused on helping portfolio companies work with each other and leverage their competitive advantages and specialized skillsets, in turn enabling them to specialize in what they do best. For JWC, it is a focus on aeroponic cultivation, leading to a clean, consistent, high-quality product for the end consumer. For TerrAscend, it is its function as a pharma-focused processing, retail, and distribution operator, and its status as the only company selling cannabis in Canada, the U.S., and Europe.
“The collaboration between JWC and TerrAscend is evidence of the Canopy Rivers ecosystem at work,” said Olivier Dufourmantelle, Chief Operating Officer of Canopy Rivers. “Portfolio companies that work together, thrive together. We are constantly striving to broker opportunities for synergy and collaboration within our portfolio.”
Canopy Rivers currently holds approximately 14% of the issued and outstanding common shares in the capital of JWC and owns exchangeable shares in TerrAscend. For more information regarding Canopy Rivers’ investments in JWC and TerrAscend, please refer to the Company’s annual information form dated July 15, 2019 (“AIF“), filed with Canadian securities regulators and available on Canopy Rivers’ profile on SEDAR at www.sedar.com. For additional information about JWC, please refer to JWC’s profile on SEDAR or their website at www.jwc.ca. For additional information about TerrAscend, please refer to TerrAscend’s profile on SEDAR or their website at www.terrascend.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 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 ecosystem.