Canopy Rivers Inc (CVE:RIV) (OTCMKTS:CNPOF) is treading new investment ground internationally. This morning, the cannabis venture/incubator portfolio company announced an investment in a jurisdiction not generally known as an industry player.
The company’s investment in New Zealand-based
Finistere Ventures, itself, is supported by industry leaders like Bayer AG and Nutrien, and works closely with its network in the agriculture space to help commercialize innovations at a global scale.
This marks Canopy Rivers’ first investment in agri-technologies, specifically focused on the emerging fields of plant physiology and UV photobiology. BioLumic will use its newfound capital to grow its operations to support the acceleration and expansion of its UV light treatment initiatives—including applications in the medical cannabis market. BioLumic’s UV light treatments are purported to deliver long-term crop benefits such as improved crop consistency, increased yield, drought tolerance, and disease and pest resistance.
Today’s announcement marks a continuance of an uptick in recent news flow, which has buffered Canopy Rivers from the market’s latest downdraft. Over the past 4-sessions, RIV gained 18.91% following portfolio company Pharmhouse Inc. announcing a significant supply agreement between it and Canopy Growth. Over the past month, aggregate gains are similar. A combination of portfolio company news and direct-equity investments are keeping the news cycle humming.
Midas Letter will have further coverage as events warrant.
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