Canopy Rivers Inc. (“Rivers”) today announced that it has entered into a definitive agreement with Canopy Growth Corporation pursuant to which, among other things, Rivers will transfer three portfolio assets to Canopy Growth in exchange for $115 million in cash and 3,750,000 common shares of Canopy Growth and the cancellation of all 36,468,318 Multiple Voting Shares (“MVS”) and the 15,223,938 Subordinate Voting Shares (“SVS”) of Rivers held by Canopy Growth. In closing, the transaction will result in Rivers becoming a widely-held company and will unlock substantial value, providing Rivers with significant additional cash resources and allowing it to pursue opportunities in the global cannabis market, including the United States.

Published Ncv Newswire, New Cannabis Ventures, 12/21/2020 09:53:00

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