Asha Daniere appointed Chair, Constellation Brands' CFO Garth Hankinson elected to Board of Directors

TORONTO, Sept. 24, 2020 /CNW/ - Canopy Rivers Inc. (the "Company") (TSX: RIV) (OTC: CNPOF) announced the voting results of its annual general and special meeting of shareholders (the "Meeting") held today.

Canopy Rivers Logo (CNW Group/Canopy Rivers Inc.)

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."

The results for the election of directors at the Meeting were as follows:

Director Nominee

Votes cast

% votes cast


% votes

Narbe Alexandrian





Asha Daniere





Garth Hankinson





Mike Lee





Richard Mavrinac





Joseph Mimran





For detailed voting results on each item of business at the Meeting, please refer to the Company's Report of Voting Results available under the Company's profile on SEDAR at

About Canopy Rivers
Canopy Rivers is a venture capital firm specializing in cannabis with a portfolio of 18 companies across various segments of the cannabis value chain. We believe that bringing together people, capital, and ideas raises the potential of the entire cannabis industry. By leveraging our industry insights, in-house expertise, and thesis-driven approach to investing, we aim to provide shareholders with exposure to specialized and disruptive cannabis companies. Our 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. Together with our portfolio, we are helping build the cannabis industry of tomorrow, today.

Forward Looking Statements
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding the Company's belief that Mr. Hankinson's election to the Board will benefit both the Company and its portfolio; the intention of the Board Chair to work closely with the Board and management of Canopy Rivers to execute on their fiscal 2021 strategy and deliver value to shareholders; and expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; competition risks; changes in cannabis industry growth and trends; changes in the business activities, focus and plans of the Company; stock market volatility; changes in general economic, business and political conditions, including challenging global financial conditions and the impact of the novel coronavirus pandemic; potential conflicts of interest; the regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in the Company's relationship with Canopy Growth Corporation and its investees; counterparty risks, including risks associated with joint venture arrangements; risks associated with the termination, renegotiation and enforcement of material contracts; credit, liquidity and additional financing risks; changes in applicable laws; compliance with extensive government regulation, including the Company's interpretation of such regulation; changes in the global sentiment towards, and public opinion of, the cannabis industry; divestiture risks; and the risk factors set out in the Company's most recent annual information form and management's discussion and analysis, filed with the Canadian securities regulators and available on the Company's profile on SEDAR at

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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