RIV Capital (TSX: RIV) (OTC: CNPOF), an investment and acquisition company specializing in cannabis, has finalized an agreement with Canopy Growth Corporation subsidiary Tweed Tree Lot Inc. (“TTL”), to sell its property located in Fredericton, New Brunswick. The transaction was completed for a cash payment of $4 million. In the announcement, RIV Capital noted that it has leased the property to TTL since 2017; RIV Capital now has no remaining agreements with TTL. “The sale of the New Brunswick property is another step forward as we recapitalize our balance sheet and narrow our focus on the U.S. market,” said RIV Capital president and CEO Narbe Alexandrian in the press release. “The sale of the facility confirmed our original investment thesis, producing a positive return that provides us with further capital to pursue our U.S. strategy.”
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About RIV Capital
RIV Capital is an investment and acquisition company specializing in cannabis with a portfolio of 13 companies across various segments of the cannabis value chain. The company believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging its industry insights, in-house expertise and thesis-driven approach to investing, RIV Capital aims to provide shareholders with exposure to specialized and disruptive cannabis companies. For more information about the company, please visit www.RIVCapital.com.
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