Canopy Rivers portfolio company Herbert Works has received its research and development (R&D) licence from Health Canada to develop branded cannabis-infused beverages.
"It's a timely achievement, as the next wave of cannabis legalization in Canada will unlock these new product offerings in a matter of months. We believe that Herbert Works is in a prime position to capitalize on the growth opportunities that 'Cannabis 2.0' presents for consumers that are eager to try cannabis in different formats," said Narbe Alexandrian, President and CEO of Canopy Rivers
"Herbert Works' mission is to combine advanced technology with its knowledge and appreciation of the experience-enhancing properties of cannabis to create products specifically designed around consumers' many lifestyle needs. Canopy Rivers currently holds 23% of the equity of Herbert Works on a fully diluted basis (excluding a control warrant)."