Team: Jonathan Sherman
On December 6, 2018, Canopy Rivers Inc. increased its ownership stake in CanapaR Corp., the Canadian parent corporation of CanapaR SrL, an Italy-based organic hemp production and processing platform. Canopy Rivers committed to a $17.4 million investment in CanapaR Canada in two tranches as part of a planned $25 million non-brokered private placement.
The investment, which increases Canopy Rivers' ownership position to 49.9%, builds upon Canopy Rivers' international expansion strategy and positions Canopy Rivers to capitalize on the expected growth in demand for cannabis and CBD derivative products in the rapidly growing European cannabis market.
Canopy Rivers was advised by Cassels Brock lawyer Jonathan Sherman (Business and Cannabis).