Canopy Rivers Portfolio Company Licenses Medical Cannabis Inhaler Technology in Canada
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 inhaler 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.
SOURCE Canopy Rivers Inc.
Media: Rob Small, Senior Manager, Public Relations & Communications, [email protected]; Investor Relations: Karoline Hunger, Sr. Director, Investor Relations & Communications, [email protected]
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