Canopy Rivers (TSXV:RIV) announced a new equity investment deal in Herbert, a brand platform operating in the adult-use cannabis beverage and edibles market.

As quoted in the press release:


Canopy Rivers subscribed for C$1,500,000 of preferred shares in Herbert, and received incremental warrants entitling the Company to increase its economic interest in Herbert under certain circumstances, as well as other governance-related rights.

“Herbert represents an opportunity for Canopy Rivers to be invested at a very early stage in a company focused on the adult-use cannabis beverage and edible product segment,” said Narbe Alexandrian, President of Canopy Rivers. “In the US, cannabis-infused beverages have emerged as a high-growth segment within the ingestibles category, and include a variety of products in both THC- and CBD-dominant formats. In Canada, we expect similar growth beyond dried flower and oils, into food and beverage. Canopy Rivers believes that Herbert, equipped with existing R&D, marketing and manufacturing expertise, has the ability to enter this market quickly and achieve success in creating widely appealing THC-infused beverages and edibles under this new standalone brand.”

Herbert’s mission is to combine advanced technology with its knowledge and appreciation of the experience-enhancing properties of cannabis, creating products specifically designed around consumers’ many lifestyle needs. The company’s core beverage offering will focus primarily around THC-infused products designed for distribution within Canada.

Click here to read the full press release.

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This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210303005322/en/

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