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TORONTO – Canopy Rivers Inc. (“Canopy Rivers” or the “Company”) (TSXV: RIV, OTC: CNPOF ) is pleased to announce that it has received conditional approval from the Toronto Stock Exchange (the “TSX”) to graduate from the TSX Venture Exchange (the “TSXV”) and list its class A subordinated voting shares (the “Subordinated Voting Shares”) on the TSX.
“This represents another important milestone for Canopy Rivers and demonstrates the Company’s continued growth and commitment to driving shareholder value,” said Narbe Alexandrian, President and CEO of Canopy Rivers. “We believe that a TSX listing will substantiate our strong commitment to corporate governance and provide us with exposure to a broad new investor base that will enhance liquidity.”
Final approval of the listing is subject to Canopy Rivers meeting certain standard and customary conditions required by the TSX. Upon receipt of final TSX approval, Canopy Rivers’ Subordinated Voting Shares will be voluntarily delisted from the TSXV and commence trading on the TSX under the ticker symbol “RIV”.
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.
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 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 receipt of final TSX approval; the delisting of the Subordinated Voting Shares from the TSXV and the commencement of trading on the TSX; the impact of a TSX listing on the Company; and other expectations for economic, 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; the ability of Canopy Rivers to obtain final TSX approval; changes in the timing and process for delisting the Subordinated Voting Shares from the TSXV and listing on the TSX; the actual impact of the TSX listing on the Company; 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; public opinion and perception of the cannabis industry; and the risk factors set out in Canopy Rivers' annual information form dated July 15, 2019, filed with 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.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
SOURCE Canopy Rivers Inc.
For further information: Karoline Hunter Sr. Director, Investor Relations & Communications E-mail: ir@canopyrivers.com
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