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Canopy Rivers Closes Oversubscribed $26 Million Private Placement

Published: 01/09/2018

Team: John P. Vettese, Sean Maniaci, Jonathan Sherman

On January 9, 2018, Canopy Rivers Corporation closed a non-brokered private placement offering of 23,636,363 Class B common shares at a price of $1.10 per share for aggregate gross proceeds of approximately $26 million.

Canopy Growth Corporation, which controls the majority voting rights in Canopy Rivers, subscribed for 4,673,938 shares for approximately $5.1 million.

Cassels Brock acted for Canopy Rivers with a deal team that included John Vettese, Sean Maniaci, Jonathan Sherman and Michael Weizel (Securities, Business and Cannabis).