CannabisNewsBreaks – Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) Subsidiary Modifies TerrAscend Canada Loan Terms

Canopy Rivers (TSX: RIV) (OTC: CNPOF), a venture capital firm specializing in cannabis, this morning announced that Canopy Rivers Corporation, a wholly-owned subsidiary of the company, has amended the terms of its recent US$10 million loan to TerrAscend Canada Inc., a wholly‑owned subsidiary of TerrAscend Corp. (CSE: TER) (OTCQX: TRSSF). The loan, announced October 2, 2019, included the purchase of 13,243 units, each of which was comprised of: (i) one unsecured convertible debenture of TerrAscend Canada with a principal amount of C$1,000 (the “debentures”), and (ii) 25.2 common share purchase warrants to purchase common shares of TerrAscend with an exercise price of C$6.49. Following the announcement of the loan and following discussions with the Toronto Stock Exchange (the “TSX”), Canopy Rivers, TerrAscend Canada, and TerrAscend decided to amend certain terms of the loan. Pursuant to the amended terms, the debentures have been converted into a C$13,243,000 loan agreement between Canopy Rivers and TerrAscend Canada. Interest on the principal amount advanced accrues at a rate of 6% per annum and all interest payments made are payable in cash by TerrAscend Canada. The loan is not convertible and is not guaranteed by TerrAscend. The principal amount matures on October 2, 2024 or an earlier date in accordance with the terms of the loan agreement. Additionally, TerrAscend has issued Canopy Rivers 2,225,714 common share purchase warrants that are exercisable upon the occurrence of certain triggering events, including (i) the amendment or removal of federal laws in the United States enabling the legal cultivation, distribution and possession of marijuana; and (ii) the stock exchange(s) on which securities of Canopy Rivers or its affiliates are listed permit the investment by Canopy Rivers in an entity that participates in the cultivation, distribution and possession of marijuana in the United States. The exercise price for the warrants, which expire on October 2, 2024, is C$5.95 each. The original warrants remain issued and outstanding.

To view the full press release, visit http://cnw.fm/X45dS

About Canopy Rivers Inc.

Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is 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. For more information, visit the company’s website at www.CanopyRivers.com.

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

About CanadianCannabisWire

CanadianCannabisWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks 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, CNW 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. CNW 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, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.

To receive instant SMS alerts, text CANNABIS to 21000 (U.S. Mobile Phones Only)

For more information please visit https://www.CanadianCannabisWire.com

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

Do you have a questions or are you interested in working with CNW? Ask our Editor

CanadianCannabisWire (CNW)
Toronto, Ontario
www.CanadianCannabisWire.com
905.674.5977 Office
Editor@CanadianCannabisWire.com

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s