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Canopy Rivers Portfolio Company Herbert Works Awarded R&D Licence from Health Canada to Develop Cannabis-Infused Beverages

Vlad Poptamas

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Canopy Rivers Inc. (the “Company” or “Canopy Rivers“) (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, is pleased to share that its portfolio company Herbert Works Ltd. (“Herbert Works“) has received its research and development (R&D) licence from Health Canada to develop branded cannabis-infused beverages.

“This announcement represents a significant milestone for Herbert Works as the company continues to move quickly toward the development of exceptional and widely appealing THC-infused beverages,” said Narbe Alexandrian, President and CEO of Canopy Rivers. “It’s a timely achievement, as the next wave of cannabis legalization in Canada will unlock these new product offerings in a matter of months. We believe that Herbert Works is in a prime position to capitalize on the growth opportunities that ‘Cannabis 2.0’ presents for consumers that are eager to try cannabis in different formats.”

Herbert Works’ mission is to combine advanced technology with its knowledge and appreciation of the experience-enhancing properties of cannabis to create products specifically designed around consumers’ many lifestyle needs. Canopy Rivers currently holds 23% of the equity of Herbert Works on a fully diluted basis (excluding a control warrant). For more information regarding Canopy Rivers’ investment in Herbert Works, please refer to the Company’s annual information form dated July 15, 2019 (“AIF“) filed with the Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

 

SOURCE Canopy Rivers Inc.

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