Canopy Rivers Provides DIP Financing For PharmHouse’s Restructuring

Canopy Rivers Inc. (TSX: RIV) (OTCPNK: CNPOF) agreed to provide up to $7.2 million in DIP (debtor-in-possession) financing to Ontario-based PharmHouse to support its operations through the restructuring.

Canopy owns a 49% stake in PharmHouse as part of a joint venture.

Ontario Superior Court of Justice provided PharmHouse creditor protection under the Companies’ Creditors Arrangement Act (CCAA), Canopy Rivers confirmed Wednesday.

The Toronto–based venture capital firm said …

Full story available on Benzinga.com

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