Canopy Rivers (TSXV:RIV) announced an acceleration of its deal with joint venture partner PharmHouse and amended the terms of its deal with an undisclosed Ontario company.

As quoted in the press release:


Canopy Rivers is pleased to announce it has, through its wholly-owned subsidiary Canopy Rivers Corporation, entered into an incremental funding agreement with its joint venture partner PharmHouse Inc. (“PharmHouse”) and amended the terms of the Company’s global non-competition agreement with joint venture partner, 2615975 Ontario Limited (the “Joint Venture Partner”), to include additional rights in favour of the Company in the event the Joint Venture Partner commences operations in the U.S. cannabis market.

Under the terms of the agreement, the Company will provide up to C$40 million of secured debt financing (the “Loan”) with a three-year term and an annual interest rate of 12%, calculated monthly and payable quarterly after receipt of the sales license at PharmHouse’s initial production and processing facility. Proceeds are expected to be utilized to supplement personnel and logistics resources for domestic and international distribution, capital expenditures related to the ongoing upgrade and retrofit of PharmHouse’s nursery, processing and greenhouse infrastructure, working capital and other general corporate purposes.

In connection with the Loan, the Company and the Joint Venture Partner have agreed to extend the scope of the existing global non-competition agreement to include additional rights in favour of the Company in the event the Joint Venture Partner commences operations in the U.S. market. The non-competition agreement further aligns interests among the parties to pursue regulated cannabis opportunities together on a global scale. As international cannabis regulations continue to evolve, PharmHouse will be able to enter international markets with the benefits of the Company’s portfolio of specialists throughout the cannabis value chain, combined with the Joint Venture Partner’s extensive U.S., Mexican, and international contract manufacturing, brand development, and distribution relationships and expertise.

Click here to read the full press release.

Source: globenewswire.com

Strong Innovation Pipeline Continues to Drive Market Share Growth
Broken Coast’s First Foray into Cannabis 2.0
Solei Introduces First Limited Release Vape on the Market
Solei, RIFF, Good Supply and B!NGO Expand Product Offerings

Aphria Inc. (” Aphria ” or the ” Company “) ( TSX: APHA and NASDAQ: APHA ), a leading global cannabis company inspiring and empowering the worldwide community to live their very best life, today announced the expansion of its 510 Vape offering across its award-winning adult-use brand portfolio.

Keep reading... Show less

Zhang Investor Law announces a class action lawsuit on behalf of shareholders who bought shares of Aurora Cannabis Inc. (NYSE: ACB) between February 13, 2020 and September 4, 2020, inclusive (the “Class Period”). If you wish to serve as lead plaintiff, you must move the Court before the December 1 2020 DEADLINE . A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation.

To join the class action, go to http://zhanginvestorlaw.com/join-action-form/?slug=aurora-cannabis-inc&id=2437 or call Sophie Zhang, Esq. toll-free at 800-991-3756 or email info@zhanginvestorlaw.com for information on the class action.

Keep reading... Show less

Nextleaf Solutions Ltd. (CSE: OILS) (OTCQB: OILFF) (“Nextleaf Solutions“, “OILS”, or the “Company”), Canada’s most innovative cannabis extractor, is pleased to provide the following commercial and intellectual property update:

Cannabis Extraction Agreement with White Label Producer

Keep reading... Show less

NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES

Khiron Life Sciences Corp. (“ Khiron ” or, the “ Company ”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC), a vertically integrated cannabis leader with core operations in Latin America and Europe, is pleased to announce that it has closed today its previously announced “bought deal” short form prospectus offering of units (“ Unit s ”), including the exercise in full of the over-allotment option (the “ Offering ”).

Keep reading... Show less

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”), an innovative global cannabinoid company, today announced that Mike Gorenstein, Executive Chairman, is scheduled to speak on a panel at the Cowen 2020 Boston Cannabis Conference on Wednesday, December 2, 2020 at 9:20 a.m. EST.

For more information regarding the Cowen 2020 Boston Cannabis Conference please visit: https://www.cowen.com/conferences-and-events/3rd-annual-boston-cannabis-conference/

Keep reading... Show less