TORONTO, Jan. 17, 2019 (GLOBE NEWSWIRE) -- Canopy Rivers Inc. (the “Company” or “Canopy Rivers”) (TSXV: RIV) today announced that Narbe Alexandrian has been appointed as President of the Company, effective immediately. In this role, Narbe will lead the corporate development initiatives as well as manage the day-to-day business of the Company. He will report directly to Bruce Linton, Chief Executive Officer.
“I believe that the team at Canopy Rivers has developed one of the most attractive and compelling platforms in the cannabis industry today,” said Narbe Alexandrian, newly appointed President of Canopy Rivers. “With our access to deal flow, our management and advisory team of specialists and industry thought leaders, all supplemented with strategic support and insight from the industry’s global leader, Canopy Rivers has built the ideal structure to attack the market, identify best-of-breed companies and operators, and support them both financially and operationally. I’m humbled by the appointment, optimistic about our prospects, and excited to continue building on what I believe is the most exciting opportunity of our lifetime.”
Prior to joining Canopy Rivers, Narbe was a Venture Capitalist at OMERS Ventures, where he sourced and lead private debt and equity investments, helped raise over half a billion dollars of capital for deployment in several of the firm’s investment funds, and acted as a board observer for several of the firm’s portfolio companies. Prior to OMERS Ventures, Narbe was a Senior Strategy Manager for TELUS’s Internet of Things Group, where he helped develop and launch operational and go-to-market strategies in collaboration with TELUS’s executive leadership team. Narbe has also held roles at Firmex Inc. in corporate development and Deloitte LLP in both Financial Advisory and Consulting.
“Narbe has the aptitude, ambition, career pedigree, and professional relationship network that make him ideal for this leadership position at Canopy Rivers. Since joining the Company, he has been critical in developing organizational structures suitable for a platform of this nature, has helped recruit specialized internal resources, and has worked with the team in developing a more formalized and thesis-driven approach to building our ecosystem of complementary cannabis businesses,” said Bruce Linton, Chief Executive Officer of Canopy Rivers. “Narbe will continue to lead the business development functions of Canopy Rivers while also managing the day-to-day operations of the Company. I will remain actively involved as Chief Executive and will continue to delegate responsibilities, supplement global marketing and lead generation initiatives, and facilitate an active and collaborative relationship with the team and Canopy Growth. I would like to congratulate Narbe on this new and exciting opportunity, and I look forward to working with him and the team to continue building value for all Canopy Rivers shareholders,” continued Linton.
In connection with his appointment, Canopy Rivers has granted Narbe incentive stock options to purchase up to 400,000 subordinate voting shares in the capital of the Company. Each option will be exercisable to acquire one subordinate voting share of Canopy Rivers at an exercise price of $4.35 and will expire on the date that is five years from the date of grant. The options granted are subject to applicable hold and vesting periods.
About Canopy Rivers Inc.
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 Corporation (TSX: WEED, NYSE: CGC) to identify 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 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 the Company 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 including: the ability of the Company to identify and pursue opportunities within the cannabis sector; and expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical facts 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 the Company 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 the Company. 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; changes in general economic, business and political conditions, including changes in the financial markets; potential conflicts of interest; the Canadian regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the joint management information circular of Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities regulators and available on the Company’s 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 the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company 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.
For further information:
| Canopy Rivers Inc. www.canopyrivers.com Karoline Hunter Sr. Director, Investor Relations & Communications E-mail: ir@canopyrivers.com | |
| Daniel Pearlstein Executive Vice President, Strategy E-mail: daniel@canopyrivers.com | |