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Canopy Rivers Portfolio Company Terrascend Announces Agreement to Acquire Ultra-Premium Cannabis Brand State Flower
Canopy Rivers Portfolio Company Terrascend Announces Agreement to Acquire Ultra-Premium Ca...
About this update from Terrascend Corp.
[{"type":"text","content":"\n\n\n\nCanopy Rivers Portfolio Company Terrascend Announces Agreement to Acquire Ultra-Premium Cannabis Brand State Flower\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Aug. 29, 2019\n\n\n\nTORONTO, Aug. 29, 2019 /CNW/ - Canopy Rivers Inc. (\"Canopy Rivers\" or the \"Company\") (TSXV: RIV) (OTC: CNPOF) is pleased to announce its portfolio company, TerrAscend Corp. (\"TerrAscend\") (CSE: TER) (OTCQX: TRSSF), has signed definitive agreements to acquire ABI SF, LLC, which operates a Bay Area cannabis cultivation facility and owns the State Flower brand (\"State Flower\"). State Flower is known for its ultra-premium cannabis flower and is currently sold through dispensaries in California and Nevada. \n\n \n \n\n \n\"This announcement is yet another example of TerrAscend delivering on its U.S. expansion plans, providing ever-growing U.S. exposure to Canopy Rivers' and TerrAscend's shareholder base,\" said Narbe Alexandrian, President and CEO of Canopy Rivers. \"We think the acquisition of State Flower will allow TerrAscend to capture important mindshare in the U.S. through a strong, consumer facing brand. With a U.S. retail foothold already secured through The Apothecarium, we believe that State Flower is a natural strategic fit for TerrAscend.\"\nState Flower is a California-based cannabis producer operating a licensed facility in San Francisco, California. State Flower has emphasized a craft approach to cultivation, using best-in-class genetics at an  Envirocann certified facility. An Envirocann certification verifies that best management practices are used to grow and process cannabis and ensures environmental stewardship and compliance to local and state regulations. \nFor more information, including the terms of the transaction, see TerrAscend's announcement here.\nIn October 2018, to accommodate TerrAscend's strategic pursuits internationally, including select opportunities in the United States, Canopy Rivers agreed to restructure its investment and waive certain restrictive covenants that were granted by TerrAscend, in conn...