The venture capital arm of Canopy Growth has closed a $17.4-million financing deal for Canapar Corp., the Canadian parent of Canapar Italy, an organic hemp production and processing platform. Canopy Rivers’ investment, which represents the first tranche of a $25-million non-brokered private placement, increases the company’s ownership in Canapar from 35 per cent to 49 per cent on a non-diluted basis. The increased investment comes as the Sicily-based firm works to develop cannabidiol-infused cosmetics, skincare and beauty products for the Italian cosmetics market.
For more information:
Canopy Growth Corp
1-855-558-9333
canopygrowth.com
CanapaR
info@canapar.com
canapar.com
Source: bnnbloomberg.ca