TORONTO, Aug. 8, 2019 /CNW/ - Canopy Rivers Inc.
("Canopy Rivers" or the "Company") (TSXV: RIV) (OTC:
CNPOF) congratulates its portfolio company, YSS Corp.
("YSS") (TSXV: YSS) (WKN: A2PMAX), on receiving its
12th cannabis retail licence from the Alberta Gaming,
Liquor and Cannabis Commission ("AGLC"). Operating under the
YSS™ brand name, the newly licensed store is strategically located
in a high-traffic suburban area in northwest Edmonton. YSS has six operational stores
located in Calgary and
Red Deer, with an additional two
licensed locations expected to open in Vermilion and Vegreville within the next week.
"YSS continues to strengthen its hold on Alberta's cannabis retail landscape, now
boasting a total of 12 stores licensed by the AGLC," said Narbe
Alexandrian, President and CEO of Canopy Rivers. "With plans
to have all of its licensed stores operational by the end of Q3
2019, this announcement is a continued testament to YSS's potential
for growth and long-term
profitability."
Canopy Rivers currently holds approximately 8% of the issued and
outstanding common shares in the capital of YSS on a fully-diluted
basis. For more information regarding Canopy Rivers' investment in
YSS, please refer to the Company's annual information form dated
July 15, 2019 ("AIF") filed
with Canadian securities regulators and available on the Company's
profile on SEDAR at www.sedar.com. For additional information about
YSS, please refer to YSS's profile on SEDAR or their website at
www.ysscorp.ca/investors.
About Canopy Rivers:
Canopy Rivers is a unique investment and operating platform
structured to pursue investment opportunities in the emerging
global cannabis sector. Canopy Rivers identifies 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 Corporation (TSX: WEED)
(NYSE: CGC) 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.
Forward-Looking Statements
This news release contains statements which constitute
"forward-looking information" within the meaning of applicable
securities laws, including statements regarding the plans,
intentions, beliefs and current expectations of Canopy Rivers with
respect to future business activities and operating performance.
Forward-looking information is often identified by the words "may",
"would", "could", "should", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" or similar expressions and includes
information regarding: the expectation that YSS will have an
additional two licensed locations open within the next week; YSS's
plan to have all of its licensed stores operational by the end of
Q3 2019; YSS's potential for growth and long-term profitability;
and other expectations for other economic, business, and/or
competitive factors.
Investors are cautioned that forward-looking information is
not based on historical fact but instead reflects management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although Canopy Rivers believes that the expectations
reflected in such forward-looking information are reasonable, such
information involves risks and uncertainties, and undue reliance
should not be placed on such information, as unknown or
unpredictable factors could have material adverse effects on future
results, performance or achievements of Canopy Rivers. Among the
key factors that could cause actual results to differ materially
from those projected in the forward-looking information are the
following: regulatory and licensing risks; YSS's ability have an
additional two licensed locations open within the next week and all
of its stores open by the end of Q3 2019; changes in consumer
preferences and demand; changes in general economic, business and
political conditions, including changes in the financial markets;
the global regulatory landscape and enforcement related to
cannabis, including political risks and risks relating to
regulatory change; risks relating to anti-money laundering laws;
compliance with extensive government regulation; public opinion and
perception of the cannabis industry; and the risk factors set out
in Canopy Rivers' AIF, filed with Canadian securities regulators
and available on Canopy Rivers' profile on SEDAR at
www.sedar.com.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although Canopy Rivers has
attempted to identify important risks, uncertainties and factors
that could cause actual results to differ materially, there may be
others that cause results not to be as anticipated, estimated or
intended. Canopy Rivers does not intend, and does not assume any
obligation, to update this forward-looking information except as
otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Canopy Rivers Inc.