- Venture capital firm Canopy Rivers (RIV) has welcomed recent announcements made by three of its portfolio cannabis companies
- Cannabis gummies manufacturer Dynaleo has signed its first letter of intent with Pantry, a California-based edibles brand
- Agripharm has received a licence amendment from Health Canada, allowing the sale of dried cannabis, extracts, edibles and topicals
- TerrAscend has opened its third retail dispensary location in Pennsylvania
- Canopy Rivers (RIV) is down 0.94 per cent, and is currently trading for C$1.05 per share
Venture capital firm Canopy Rivers (RIV) has welcomed recent announcements made by three of its portfolio cannabis companies.
All of the companies are working to increase their offerings to cannabis consumers and medical patients in Canada and the US.
Dynaleo, a cannabis-infused gummies manufacturer, has signed its first letter of intent after receiving a processing license from Health Canada. The company signed the LOI with Pantry, a California-based edibles brand.
The agreement is Pantry’s first international expansion beyond the United States. Dynaleo has expressed hopes that the LOI marks the beginning of meeting consumer demand for gummies in Canada.
The second portfolio company, Agripharm, has received a licence amendment from Health Canada, allowing the sale of dried cannabis, extracts, edibles, and topicals. The amendment also allows Agripharm to introduce brands from SLANG Worldwide (CSE:SLNG) and Green House Seed to Canada’s market.
Agripharm intends to start with an initial launch of three SLANG products, including the Firefly Mini vapouriser, O.penVAPE, and Bakked Dabaratus.
The third portfolio company, TerrAscend, has just opened its third retail dispensary location in Pennsylvania. The medical dispensary measures 5,000 square feet, has been newly renovated, and features private consultation rooms for patients.
Canopy Rivers’ President and CEO, Narbé Alexandrian, commented on the progress of the cannabis companies.
“We continue to be impressed with the ability of our portfolio companies to respond to shifting consumer demands in the cannabis space, while executing our their long-term strategies.
“We still see greenfield in the Canadian brand market, and we are excited to see both Agripharm and Dynaleo taking steps to introduce Canadians to brands that have proven track records in US markets,” he said.
Canopy Rivers (RIV) is down 0.94 per cent, and trading for C$1.05 per share, as of 2:55pm EDT.
