InvestorNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Announces Shareholder Approval of Canopy Growth Plan of Arrangement

February 17, 2021 9:30 AM EST

Get inside Wall Street with StreetInsider Premium. Claim your 1-week free trial here.

Canopy Rivers (TSX: RIV) (OTC: CNPOF) shareholders have voted to approve the company’s previously announced plan of arrangement regarding Canopy Growth Corporation. Shareholder voting resulted in 99.87% of votes cast by Rivers shareholders cast in favor of the arrangement; that number included an estimated 99.85% of votes cast by Rivers shareholders other than Canopy Growth. According to the previously announced arrangement, approval was required from at least two-thirds of the votes cast by the holders of subordinated voting shares as well as two-thirds of votes cast by Canopy Growth and a simple majority of votes cast by holders of SVS (“SVS”). The announcement also noted that Les Serres Stéphane Bertrand Inc. had exercised its right of first refusal to purchase from Rivers a proportionate interest of the common shares in Les Serres Vert Cannabis Inc. Based on that, Canopy Rivers, through RIV Capital Corporation, its wholly owned subsidiary, has entered into a definitive purchase agreement with Serres Bertrand. We are thrilled by both the high voting turnout and the tremendous support we received for the Arrangement, said Canopy Rivers president and CEO Narbe Alexandrian in the press release. We believe that this deal provides substantial value to shareholders, which was highlighted by the overwhelming support we received today. We look forward to delivering on this vote of confidence as we execute on our new strategy focused on opportunities in the U.S. market.

To view the full press release, visit https://ibn.fm/64Gqs

About Canopy Rivers

Canopy Rivers is an investment and acquisition company specializing in cannabis with a portfolio of 17 companies across various segments of the cannabis value chain. The company believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging its industry insights, in-house expertise and thesis-driven approach to investing, Canopy Rivers aims to provide shareholders with exposure to specialized and disruptive cannabis companies. As part of the arrangement, the company will also change its corporate name to RIV Capital Inc. Canopy Rivers  expects that further updates will be communicated under the new corporate name following the close of the arrangement. For more information about this company, please visit www.CanopyRivers.com.

NOTE TO INVESTORS: The latest news and updates relating to CNPOF are available in the company’s newsroom at http://ibn.fm/CNPOF

About InvestorWire

InvestorWire is the wire service that gives you more. From regional releases to global announcements presented in multiple languages, we offer the wire-grade dissemination products you’ll need to ensure that your next press release grabs the attention of your target audience and doesn’t let go. While our competitors look to nickel and dime you with hidden fees and restrictive word limits, InvestorWire keeps things transparent. We offer UNLIMITED Words on all domestic releases. While other wire services may provide a basic review of your release, InvestorWire helps you put your best foot forward with complimentary Press Release Enhancement.

With our competitors, the work is done the second your release crosses the wire. Not with InvestorWire. We include follow-up coverage of every release by leveraging the ever-expanding audiences of the 50+ brands that make up the InvestorBrandNetwork.

Get more out of your next press release with InvestorWire. It’s unlike anything you’ve seen before.

For more information, please visit https://www.InvestorWire.com

Please see full terms of use and disclaimers on the InvestorBrandNetwork website applicable to all content provided by IBN, wherever published or re-published: http://ibn.fm/Disclaimer

InvestorWire (IW)
8033 Sunset Blvd Suite 1037-IW
Los Angeles, CA 90046
310.299.1717 Office
www.InvestorWire.com
Editor@InvestorWire.com

InvestorWire is part of the InvestorBrandNetwork.



Serious News for Serious Traders! Try StreetInsider.com Premium Free!

You May Also Be Interested In





Related Categories

Investor Brand Network, Press Releases

Related Entities

Definitive Agreement