Canopy Rivers Portfolio Company Obtains Health Canada's R&D License To Develop Cannabis-Infused Beverages

Canopy Rivers Inc. RIV CNPOF said Tuesday its portfolio company Herbert Works Ltd. has obtained Health Canada’s research and development license to develop cannabis-infused beverages.

"This announcement represents a significant milestone for Herbert Works as the company continues to move quickly toward the development of exceptional and widely appealing THC-infused beverages," Narbe Alexandrian, President and CEO of Canopy Rivers said in a statement.

"It's a timely achievement, as the next wave of cannabis legalization in Canada will unlock these new product offerings in a matter of months. We believe that Herbert Works is in a prime position to capitalize on the growth opportunities that 'Cannabis 2.0' presents for consumers that are eager to try cannabis in different formats."

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Combining cannabis expertise and top-notch technology, Herbert Works creates products that answer to the consumer’s lifestyle needs.

Canopy Rivers is an investment platform that seeks investment opportunities in the cannabis industry. It owns 23% of the equity of Herbert Works on a diluted basis.

The company’s stock closed Monday at $1.87 per share.

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