Canopy Rivers portfolio company, YSS Corp., has received five cannabis retail licences from the Alberta Gaming, Liquor and Cannabis Commission (“AGLC”). The five new licences are located throughout Alberta and will operate under the YSS™ brand name.
“YSS has made tremendous progress building up their retail presence in Alberta – doubling their current AGLC licensed stores to ten,” said Narbe Alexandrian, President and CEO of Canopy Rivers. “With plans to have all ten stores open by the end of August, this announcement represents positive momentum for YSS in the second half of 2019.”
In addition to that, another Canopy Rivers portfolio company, James E. Wagner Cultivation Corporation has received approval of a licence amendment from Health Canada. This licence amendment allows for the sale of formulated cannabis oil from JWC's pilot facility in Kitchener, Ontario. In anticipation of this news, JWC is prepared to commence the sale of formulated cannabis oil to JWC's medical cannabis patients on July 9, 2019.
"We believe that JWC's multigenerational cannabis experience, its proprietary production methodologies, and a diversified product offering, make JWC a unique asset within the Canopy Rivers portfolio," said Narbe Alexandrian, President and CEO of Canopy Rivers. "With its Health Canada approval for the sale of formulated oil products, JWC is well positioned to capitalize on the production and sale of higher margin cannabis oils. With a full processing sales license, JWC will have the ability to create precursor products that could lead to the production of edible cannabis, cannabis extracts, and cannabis topicals when the regulations take effect later this year."
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