Rivers Rundown: Canopy Rivers' Portfolio Companies Expanding Canadian Retail Presence

Canopy Rivers published new investor presentation and provides update on Headset, YSS, and JWC

TORONTO - Canopy Rivers Inc. ("Canopy Rivers") (TSX: RIV, OTC: CNPOF), a venture capital firm specializing in cannabis, portfolio companies have made a series of recent announcements as they aim to seize opportunities in the Canadian retail market. Canopy Rivers also published a new investor presentation following the release of its third quarter financial results. More details on these developments are included below:

• Canopy Rivers published a new investor presentation following its third quarter financial results released on February 14, 2020. The new presentation provides an update to the company's investment strategy, which breaks down the cannabis sector into ten verticals. It also expands upon Canopy Rivers' diversified global platform and portfolio, global industry insights and deal flow, thesis-driven approach to investing, and roadmap to value creation.

• Headset, Inc. ("Headset") launched its Insights product in British Columbia. This product gives brands and retailers an avenue through which they can gain a better understanding of the British Columbia market. Headset Insights was originally made available for the Alberta market in 2019. Earlier this month, Headset also hosted a Cannabis Data Night in Toronto. Attended by over 300 members of the city's cannabis industry, Cannabis Data Night featured presentations from Canopy Rivers, Cova Software, and Headset around brands, sales data and consumer behaviour.

• YSS Corp.'s ("YSS") (TSXV: YSS, WKN: A2PMAX) 17th operating retail location opened in Grande Prairie, Alberta earlier this month. YSS now has operating stores servicing customers across Alberta and in Saskatchewan, including locations in Calgary (6), Edmonton, Red Deer, Vermilion, Stony Plain, Vegreville, Spruce Grove, Lloydminster, High River, Okotoks, Grande Prairie and Swift Current. YSS continues to advance its plans to expand into Ontario by leveraging the experience and knowledge it has gained through its growth in Alberta and Saskatchewan.

• James E. Wagner Cultivation Corporation ("JWC") (TSXV: JWCA, OTCQX: JWCAF) entered into a master cannabis supply agreement with the Ontario Cannabis Store ("OCS"), marking the first time JWC's products will sell in the recreational market. The agreement provides the framework for JWC to make its aeroponically grown cannabis products available for purchase through the OCS online store and in nearly 30 private retail stores across Ontario.

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.

Forward-Looking Statements

This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of Canopy Rivers and its portfolio companies with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding: the aim of certain Canopy Rivers portfolio companies to seize opportunities in the Canadian retail market; ; YSS' expansion plans for Ontario; and expectations for other economic, regulatory, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although Canopy Rivers believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of Canopy Rivers. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; changes in the business activities and goals of Canopy Rivers' portfolio companies, including changes in the Ontario expansion plans of YSS; changes in cannabis industry growth and trends; changes in consumer preferences and demands; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation, including Canopy Rivers' interpretation of such regulation; public opinion and perception of the cannabis industry; divestiture risks; and the risk factors set out in Canopy Rivers' annual information form dated July 15, 2019, filed with the Canadian securities regulators and available on Canopy Rivers' profile on SEDAR at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although Canopy Rivers has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

SOURCE Canopy Rivers Inc.

For further information:
Media:
Rob Small
Senior Manager, Public Relations & Communications
rob@canopyrivers.com

Investor Relations:
ir@canopyrivers.com