TORONTO, Sept. 17, 2019 /CNW/ - Canopy Rivers Inc.
("Canopy Rivers" or the "Company") (TSX: RIV) (OTC:
CNPOF), a venture capital firm specializing in cannabis, is pleased
to announce its portfolio company, TerrAscend Corp.
("TerrAscend") (CSE: TER) (OTCQX: TRSSF), has entered into a
distribution agreement with Syqe Medical, Ltd. ("Syqe"), an
Israel-based pharma-tech company,
to launch Syqe's flagship product, the Syqe™ Inhaler, in
Canada.
The Syqe Inhaler is the world's first metered-dose medical
cannabis inhaler and will provide Canadians with an alternative to
dried flower medical cannabis. Metered dosing allows patients and
healthcare providers to predictably, precisely and consistently
deliver treatment at pharmaceutical standards. Syqe's technology is
supported by completed controlled clinical trials, a milestone only
a limited number of companies have achieved, with patients
suffering from chronic pain. The Syqe treatment provides rapid pain
relief while reducing psychoactive effects and allowing patients to
resume normal daily activities. The technology was launched in the
Israeli market in June 2019.
"We continue to be thrilled with the steps TerrAscend is taking
to build an industry-leading business that spans retail,
manufacturing, distribution, biotechnology, and now health tech,"
said Narbe Alexandrian, President and CEO of Canopy Rivers. "We
believe that TerrAscend is uniquely positioned in the Canadian
market to deliver on the consumer demand for innovative and
rigorously tested products like the Syqe device."
TerrAscend will undertake marketing, distribution, and sales
efforts of the Syqe Inhaler through its wholly owned subsidiaries
TerrAscend Canada and Solace Health Network. TerrAscend will also
provide both guidance on use of the Syqe Inhaler and broader
education on the benefits of medical cannabis and the Syqe
treatment.
For more information on the agreement between TerrAscend and
Syqe, see the joint press release here.
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 identifies 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 Corporation
(TSX: WEED, NYSE: CGC) 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 benefits of the Syqe technology and its
potential as an alternative to dried flower medical cannabis; the
Company's belief that TerrAscend is uniquely positioned in the
Canadian market to deliver on the consumer demand for innovative
and rigorously tested products; TerrAscend's plan to market,
distribute and sell the Syqe Inhaler through TerrAscend Canada and
Solace Health Network and to use its platform to provide guidance
on the use of the Syqe Inhaler and broader education on the
benefits of medical cannabis and the Syqe treatment; 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 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; the actual benefits of
the Syqe technology and its ability to provide an alterative to
dried flower medical cannabis; the ability of TerrAscend and Syqe
to collaborate; changes in consumer demand and preferences; changes
in TerrAscend's plans for the Syqe Inhaler and the use of its
platform; 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'
annual information form dated July 15,
2019, filed with the 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
that 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.
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SOURCE Canopy Rivers Inc.