QualityStocksNewsBreaks – Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) to Receive $30M in Additional Capital from Canopy Growth Corp. (TSX: WEED) (NYSE: CGC)
Canopy Growth Corporation (TSX: WEED) (NYSE: CGC) this morning announced that it intends to increase its total investment in cannabis-focused investment and operating firm Canopy Rivers (TSX.V: RIV) (OTC: CNPOF) by CAD $30 million. The investment will be made through a private placement of subordinated voting shares in the capital of Canopy Rivers concurrent with Canopy Rivers’ bought deal offering of subordinate voting shares for gross proceeds of approximately $55 million. Upon closing of the investment, which is expected to occur on or about February 27, 2019, Canopy Growth’s ownership of issued and outstanding shares of Canopy Rivers will increase…