Canopy Rivers secures $1.6 bln valuation in trading debut: Reuters

Cannabis investor Canopy Rivers, the venture arm of industry giant Canopy Growth Corp went public this week in a debut that gave it a market capitalization of about $1.6 billion, more than double its valuation prior to the listing, Reuters reported. Canopy Rivers has made about a dozen Canadian and international investments, which include licensed producers, pharmaceutical formulators and retail networks. “It’s Canopy Growth’s proxy for Google Ventures,” Bruce Linton, CEO of both the companies, said. Canopy Rivers is currently looking at investments in Europe and South America, he added.

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