TORONTO, Oct. 23, 2019 /CNW/ - Canopy Rivers Inc. ("Canopy Rivers") (TSX: RIV, OTC: CNPOF), a venture capital firm specializing in cannabis, and Kindred Partners Inc. ("Kindred"), a specialty cannabis brokerage and services company, today announced a strategic alliance established to provide mutual benefits to Canopy Rivers, its portfolio companies, and Kindred.
Kindred, a wholly-owned subsidiary of Breakthru Beverage Group, leverages the deep experience of its sister company, Breakthru Beverage Canada, in working with Canadian provincial control boards, public and private regulated cannabis businesses, licensed producers and retailers to broker regulated cannabis products for the adult-use market.
"As we head into cannabis 2.0 and the Canadian cannabis market continues to develop in a highly regulated environment, we expect that distribution will be one of the key tenets of success for brands," said Narbé Alexandrian, President & CEO, Canopy Rivers. "Our strategic alliance with Kindred presents a valuable opportunity for our portfolio companies to access the expertise and distribution channels necessary to enable their branded products to thrive. We're excited to work with Kindred, alongside our portfolio, to unlock the industry's long-term potential."
The agreement affords Canopy Rivers' portfolio of current and future licensed producers access to Kindred's brokerage, marketing, and brand-building services. Kindred will provide strategic benefits to Canopy Rivers through its network and team of marketing and branded product experts, insights from Kindred's industry-leading enterprise resource planning and marketing intelligence infrastructure, and brokered distribution to Canopy Rivers' portfolio companies at scale via Kindred's already established national sales platform.
As part of the strategic alliance, Julian Burzynski, Regional President of Breakthru Beverage Canada, has joined Canopy Rivers' recently launched Strategic Advisory Board. With nearly 30 years' experience in the alcohol beverage industry, Mr. Burzynski will provide Canopy Rivers with insights related to beverage brokerage, distribution, and go-to-market strategies.
"This is a great opportunity to expand our influence in the Canadian adult-use marketplace and leverage our network to help innovative brands thrive," said David Prodanovic, Kindred's General Manager. "We are thrilled to partner with Canopy Rivers and look forward to collaborating with its portfolio companies."
About Canopy Rivers:
Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is 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.
About Kindred Partners Inc.
Kindred Partners Inc. is a wholly-owned Canadian subsidiary of Breakthru Beverage Group representing cannabis products to the Canadian recreational market. This dedicated cannabis sales brokerage business operates independently from its sister company, Breakthru Beverage Canada, a leading Canadian beverage alcohol broker. For more information, please visit www.kindredcanada.ca.
About Breakthru Beverage Group
Breakthru Beverage Group is one of the leading alcohol wholesalers in the United States and the largest broker in Canada representing a total beverage alcohol portfolio of spirits, wine and beer. Across its North American footprint, Breakthru employs more than 7,000 associates who align a nimble and insightful approach to sales, marketing and operations. For more information, please visit www.BreakthruBev.com.
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 anticipated benefits of the strategic alliance for Canopy Rivers, its portfolio companies, and Kindred and the opportunities created thereby; management's view that distribution will be one of the key tenets of success for brands; 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 impact of the strategic alliance on Canopy Rivers, its portfolio companies, and Kindred and the actual opportunities created thereby; changes in the terms of the strategic alliance; the ability of the Company and the Strategic Advisory Board to collaborate; changes in consumer preferences and demands; 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.
SOURCE Canopy Rivers Inc.
For further information: Canopy Rivers Media: Rob Small, Senior Manager, Public Relations & Communications, [email protected]; Canopy Rivers Investor Relations: Karoline Hunter, Senior Director, Investor Relations & Communications, [email protected]; Kindred Media: Robb Kristopher, Vice President, Corporate Communications, Breakthru Beverage Group, [email protected], 708-298-3352