Canopy Rivers Inc. (TSX.V: RIV) (OTC: CNPOF) this morning announced that its portfolio company Radicle Medical Marijuana Inc. has received Health Canada approval for its production facility expansion project. According to the update, the approval effectively doubles Radicle’s production footprint, significantly increasing its yearly capacity to 6,000 kilograms. “We are thrilled with the continued growth happening at Radicle,” Canopy Rivers President and CEO Narbe Alexandrian said in the news release. “The cannabis industry is showing many similarities to the craft beer movement, where local, artisanal operators are succeeding in securing loyal and robust customer followings. Radicle is thriving within this craft segment, and is raising the bar when it comes to its unique strains offered under the Gage brand. We see no slowdown in consumer demand for premium products and brands, and this Health Canada approval will help Radicle better supply high quality craft cannabis to both the medical and adult-use markets.”
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About Canopy Rivers Inc.
Canopy Rivers is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers works collaboratively with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) to identify 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 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. For more information, visit the company’s website at www.CanopyRivers.com.
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