On March 18, 2019, Canopy Rivers Inc. and LeafLink, Inc. announced the establishment of LeafLink Services International ULC, a new venture that exclusively licenses and launches LeafLink’s business-to-business marketplace and supply chain technology platform in regulated international cannabis markets.
Under the terms of the agreement, LeafLink made an initial capital commitment of US$1 million along with an exclusive, royalty-free license for all non-US marketplaces for their proprietary B2B software platforms and service solutions. Canopy Rivers invested US$2 million and has the option to invest an incremental US$6 million. Following the investment, Canopy Rivers owns approximately 18% of LeafLink International.
Cassels acted for Canopy Rivers with a deal team that included Jonathan Sherman and Aly Somani (Business and Cannabis), Carla Potter (Financial Services and Cannabis), Noelle Engle-Hardy (Intellectual Property) and James Morand (Tax).