Canopy Rivers Sells Portfolio Assets To Canopy Growth For $297M

Canopy Growth Corp (NYSE: CGC) reported Monday it's giving up on its interest in Canopy Rivers Inc. (TSX: RIV) (PINK: CNPOF).

The Toronto-based cannabis-focused venture capital firm opted to transfer three of its portfolio assets to Canopy Growth.

Rivers will obtain $115 million in cash and 3.75 million of Canopy Growth's common shares in exchange. In addition, the Canadian cannabis giant agreed to cancel all 36,468,318 Multiple Voting Shares and the 15,223,938 Subordinate Voting Shares of Rivers it held.

Transaction Details

Under the arranged agreement, Canopy Growth will increase its fully-diluted conditional ownership in TerrAscend Corp. (OTCQX: TRSSF) to 21% by acquiring roughly 12.5 million …

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