TORONTO, April 16, 2019 /CNW/ - Canopy Rivers Inc.
("Canopy Rivers") (TSXV: RIV) and High Beauty, Inc.
("High Beauty") are pleased to announce the completion of an
investment by Canopy Rivers in High Beauty, creator of
industry-leading cannabis beauty brand high. Canopy Rivers
has subscribed for US$2.5 million of
shares in High Beauty, representing 18.4% of the company on a fully
diluted basis, including additional warrant coverage.
"Being supported by Canopy Rivers enables us to collaborate
within the Canopy Rivers ecosystem and to focus our energy and
passion on the creation of a robust new product line using
cannabis-derived extracts," said Melissa Jochim, a highly
successful formulator and Founder of High Beauty. "Cannabis sativa
seed oil is an untapped ingredient resource with amazing skincare
benefits. This partnership will allow us to scale High
Beauty's business much "higher" in a short time frame."
Management believes that High Beauty has a competitive advantage
in the global beauty market through its distribution
partnership with Sephora (EPA: MC), an established leader in
global prestige omni-channel retail. Defined by its unique,
open-sell environment, Sephora's curated assortment of brands
includes trusted classics, indie and emerging favorites, and
their own brand, Sephora Collection. The brand and beauty
experts at Sephora have been involved in the evolution of
high from concept to shelf, and the products have been
specifically developed to meet "Clean at Sephora" standards – a
"free of" designation that meets consumers' needs for products free
of questionable and unwanted ingredients.
High is expertly formulated to deliver cannabis sativa
seed oil in combination with certified organic plant oils,
high-potency antioxidants and pure plant essential oils for
healthy, beautiful skin. High helps calm inflammation,
balances all skin types with adaptogens, protects with potent
antioxidants, and hydrates and replenishes. High Beauty's High Five
Cannabis Facial Moisturizer, a moisturizer containing cannabis
sativa seed oil and potent plant actives, is used in the morning
like a daily skin vitamin. And for nighttime
routines, High Beauty's High Expectations Cannabis Facial Oil
helps provide intensive repair, hydration and replenishment.
"We have been actively pursuing opportunities in the health and
beauty industry, guided by a growing consumer trend of brand new,
innovative and functional beauty products. Enter high," said
Narbe Alexandrian, President of Canopy Rivers. "Led by Melissa Jochim, a repeat entrepreneur,
preeminent formulator and brand developer coming from the natural,
organic segment of the beauty industry, high has already
captured mindshare and awareness of consumers - it has all the
makings to continue to be a prominent brand in the
cannabis-infused beauty market."
About High Beauty:
high is a revolutionary beauty brand powered by
cannabis sativa. high is formulated using only cannabis
sativa seed extracts and is legal and free of psychoactive
substances including THC and CBD. Founded and formulated in
Northern California by renowned
organic beauty pioneer, Melissa
Jochim, high is expertly formulated to deliver
cannabis sativa seed oil in combination with certified organic
plant oils, high-potency antioxidants and pure plant essential oils
for healthy, beautiful skin.
About Canopy Rivers:
Canopy Rivers is a unique investment and operating platform
structured to pursue investment opportunities in the emerging
global cannabis sector. Canopy Rivers works collaboratively with
Canopy Growth (TSX: WEED, NYSE: CGC) to identify strategic
counterparties seeking financial and/or operating support. Canopy
Rivers has developed an investment ecosystem of complementary
cannabis operating companies that represent various segments of the
value chain across the emerging cannabis sector. As the portfolio
continues to develop, constituents will be provided with
opportunities to work with Canopy Growth and collaborate among
themselves, which Canopy Rivers believes will maximize value for
its shareholders and foster an environment of innovation, synergy
and value creation for the entire ecosystem.
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 Canopy Rivers 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 growing consumer trend of brand new,
innovative and functional beauty products; the prominence of High
Beauty's brand in the cannabis-infused beauty
market; High Beauty's competitive advantage in
the global beauty market through its distribution partnership with
Sephora; the health benefits of High Beauty's products and cannabis
sativa seed oil; High Beauty's ability to collaborate within the
Canopy Rivers ecosystem; the impact that the partnership between
Canopy Rivers and High Beauty will have on High Beauty's future
focus and ability to scale its business quickly; and other
expectations for other economic, business, and/or competitive
factors.
Investors are cautioned that forward-looking information is
not based on historical facts 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 Canopy Rivers 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 Canopy Rivers. 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 in the
cannabis-infused beauty market; changes in consumer trends; the
popularity and effects of High Beauty's products; a change in
High Beauty's distribution partnership with Sephora; the ability of
High Beauty and Canopy Rivers to collaborate; changes in general
economic, business and political conditions, including changes in
the financial markets; the global regulatory landscape and
enforcement related to cannabis, including political risks and
risks relating to regulatory change; risks relating to anti-money
laundering laws; compliance with extensive government regulation;
public opinion and perception of the cannabis industry; and the
risk factors set out in Canopy Rivers' final short form prospectus
dated February 21, 2019, filed with
Canadian securities regulators and available on Canopy Rivers'
profile on SEDAR at www.sedar.com.
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 Canopy Rivers has
attempted to identify important risks, uncertainties and factors
which could cause actual results to differ materially, there may be
others that cause results not to be as anticipated, estimated or
intended. Canopy Rivers does not intend, and does not assume any
obligation, to update this forward-looking information except as
otherwise required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
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SOURCE Canopy Rivers Inc.