Canopy Rivers Announces Results of Annual General and Special Meeting of Shareholders

Canopy Rivers Inc. (TSX: RIV) (OTC: CNPOF) announces the voting results of its annual general and special meeting of shareholders.

Canopy Rivers is a venture capital firm specializing in cannabis with a portfolio of 18 companies across various segments of the cannabis value chain. They believe that bringing together people, capital, and ideas raises the potential of the entire cannabis industry. By leveraging their industry insights, in-house expertise, and thesis-driven approach to investing, they aim to provide shareholders with exposure to specialized and disruptive cannabis companies. Their mission is to invest in innovators across the cannabis value chain, help them grow, and ultimately create value by guiding these companies towards a monetization event.

In total, 59,090,152 of the Company’s issued and outstanding subordinated voting shares (each carrying one vote per share) and 36,468,318 of the Company’s issued and outstanding multiple voting shares (each carrying 20 votes per share), representing 89.104% of the votes attached to all outstanding shares of the Company, were represented in person or by proxy at the Meeting.

Shareholders voted in favour of each of the items of business before the Meeting, including the election of the director nominees listed in the Company’s management information circular. This included the election of Garth Hankinson to the Company’s Board of Directors (the “Board”). Mr. Hankinson currently serves as Executive Vice-President and Chief Financial Officer of Constellation Brands, Inc. John Bell, the former Chair of the Board, did not seek re-election at the Meeting.

“We thank John for his commitment and dedication to Canopy Rivers. His experience and guidance have been invaluable as we navigated the early days of the cannabis sector,” said Narbe Alexandrian, President and CEO, Canopy Rivers. “We are also excited to welcome Garth to our Board. We believe that his expertise in finance and M&A will benefit both Canopy Rivers and our portfolio.”

Following the Meeting, the directors elected Asha Daniere as Chair of the Board. Ms. Daniere has served on the Board since September 2018 and has chaired both the Compensation, Nominating, and Governance Committee and Conflicts Review Committee of the Board. She also serves as Chair of the Special Committee of the Board reviewing the Company’s investment in PharmHouse. Joseph Mimran will assume the role of Chair of the Compensation, Nominating, and Governance Committee of the Board.

“I am excited to take on the role of Chair of the Board at this pivotal time for Canopy Rivers,” said Ms. Daniere. “I look forward to working closely with the Board and management as we aim to execute on our fiscal 2021 strategy and deliver value to shareholders.”