Canopy Rivers wraps up $17 mln financing of Canapar

Canopy Rivers has invested $9.4 million in the Canadian parent company of Canapar SrL (Canapar Italy), a Ragusa, Italy-based organic hemp production and processing platform. The deal completes a $17.4 million commitment made by Canopy in December. It increases the investor's stake in Canapar Canada to 49 percent from 35 percent. Founded in 2018, Canapar Italy makes cannabidiol oil and isolates used as an input in health and wellness products. It will use the funds raised to execute on its market strategy in Europe. Canopy is the venture capital arm of Canadian cannabis producer Canopy Growth Corp.