TORONTO, Aug. 26, 2019 /CNW/ - Canopy Rivers Inc. (the "Company" or "Canopy Rivers") (TSXV: RIV) (OTC: CNPOF) congratulates its portfolio company Headset, Inc. ("Headset") on the launch of Headset Insights in Canada. Already trusted by hundreds of operators in numerous U.S. markets, including California, Colorado, Nevada, and Washington, Headset's competitive intelligence tool provides real-time market data to help users uncover strategic opportunities, monitor consumer trends and behaviours, and keep tabs on competitors.
Home to the most licensed retailers and highest amount of cannabis purchases per capita in Canada – reporting $17.5 million in legal cannabis sales as of May 2019 – Alberta will be the first province to access Headset Insights. Canopy Rivers' portfolio company YSS Corp. ("YSS") (TSXV: YSS, WKN: A2PMAX) is among the initial group of Canadian operators already onboarded. The adoption of Headset Insights by YSS's fast-growing retail chain is an example of the complementary transactions that occur throughout Canopy Rivers' ecosystem. This connection was facilitated by the Canopy Rivers Impact Team, an in-house group of operations experts that actively identify opportunities for collaboration within the Canopy Rivers portfolio.
"This announcement from Headset is a testament to the company's rapid growth since being backed by RIV and joining our ecosystem in January 2019," said Narbe Alexandrian, President and CEO of Canopy Rivers. "We believe that Headset Insights is an unmatched resource for retailers, including Canopy Rivers portfolio company YSS, empowering them to make data-driven decisions based on trends unique to the Canadian market."
As the cannabis industry matures, management believes that the ability to leverage data will become increasingly important, as Canadian operators attempt to gain market share, target customers, price products competitively, and understand ever-evolving purchasing dynamics.
Headset plans to introduce its software to other provinces in upcoming months, with the intention of monitoring the entire spectrum of cannabis product categories sold in Canada. For more information on the debut of Headset Insights in Canada, refer to Headset's press release, linked here.
About Canopy Rivers Inc.
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.
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 benefits of Headset Insights for users; the adoption of Headset Insights in Alberta; management's belief that Headset Insights is an unmatched resource for retailers, empowering them to make data-driven decisions based on market trends; the anticipated importance of leveraging data as the cannabis industry matures; Headset's plans to introduce its software to other provinces and its intention to monitor the entire spectrum of cannabis product categories sold in Canada; 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; the ability of brands, retailers, operators, marketers and investors to leverage data about the cannabis market; competition in the business intelligence and analytics software space; changes in user needs and preferences; Headset's ability to access the Canadian market; the ability of YSS and other users to benefit from Headset Insights; 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 the Company's annual information form dated July 15, 2019, filed with the Canadian securities regulators and available on the Company's 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 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.
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.
SOURCE Canopy Rivers Inc.
For further information: Canopy Rivers Inc., Karoline Hunter, Sr. Director, Investor Relations & Communications, E-mail: [email protected]