RIV Capital Inc (RIV)

[Wo]

Canopy Rivers Gets Approval to Expand Ontario’s Production Facility

https://finance.yahoo.com/news/canopy-rivers-gets-approval-expand-104111809.html

August 11, 2019, 6:41 AM EDT
Canopy Rivers (TSXV: RIV) (OTC: CNPOF) announced that its portfolio company Radicle Medical Marijuana received approval from Health Canada to expand its production facility in Ontario.

The approval will help the company to effectively double its production, increasing its capacity to 6,000 kilograms per year. With the Health Canada approval, Radicle will have 40,000 sq. ft. dedicated to indoor hydroponic cultivation.

“The cannabis industry is showing many similarities to the craft beer movement, where local, artisanal operators are succeeding in securing loyal and robust customer followings. Radicle is thriving within this craft segment, and is raising the bar when it comes to its unique strains offered under the Gage brand. We see no slowdown in consumer demand for premium products and brands, and this Health Canada approval will help Radicle better supply high-quality craft cannabis to both the medical and adult-use markets,” Canopy Rivers President and CEO Narbe Alexandrian stated.