Canopy Rivers recently announced that it completed private placement of subscription receipts for gross proceeds of $104,212,000. In accordance with a brokered portion of the offering, 28,792,000 subscription receipts were sold. An additional 982,857 subscription receipts were sold on a non-brokered basis. Canopy Rivers also announced that it has entered into a definitive merger agreement with AIM2 Ventures Inc. (“AIM2”) and 10859150 Canada Inc., a wholly-owned subsidiary of AIM2. The agreement outlines the necessary terms and conditions to be met to complete the proposed business combination transaction. The transaction is intended to result in a reverse take-over of AIM2 by Canopy Rivers. Per the transaction, Canopy Rivers and a wholly-owned subsidiary of AIM2 will merge to form a new company. At the time of the merge, holders of class B common shares of Canopy Rivers will receive one post-consolidation AIM2 common share for each share held. Canopy Growth Corporation, the sole holder of the class A common shares of Canopy Rivers, will receive one new AIM2 multiple voting share for each class A common share held. The securities have not been and will not be offered or sold within the United States.
To view the full press release, visit http://cnw.fm/2SYh6
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 works collaboratively with Canopy Growth (TSX: WEED, NYSE: CGC) to identify strategic counterparties seeking financial and/or operating support and affiliation with the Canopy Growth group of companies. The result is an ecosystem of complementary and best-in-class cannabis operating companies that is representative of all the various niches in this newly developing cannabis economy. As the portfolio continues to develop, constituents benefit from opportunities to join forces with Canopy Growth and collaborate among themselves, resulting in an ideal environment for innovation, synergy and value creation for Canopy Rivers, Canopy Growth and the entire ecosystem of portfolio companies. For more information, visit the company’s website at www.CanopyRivers.com.
More from CannabisNewsBreaks
About CBDWire
CBDWire (CBDW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CBDNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CBDW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CBDW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CBDW brings its clients unparalleled visibility, recognition and brand awareness. CBDW is where news, content and information converge.
For more information please visit https://www.cbdwire.com
Please see full terms of use and disclaimers on the CBDWire website applicable to all content provided by CBDW, wherever published or re-published: https://CBDWire.com/Disclaimer
CBDWire (CBDW)
Denver, Colorado
cbdwire.com
303.498.7722 Office
Editor@CBDWire.com