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Canopy Rivers Completes Investment in Adult-Use Cannabis Beverage and Edibles Brand


On January 22, 2019, Canopy Rivers Inc. completed an equity investment in Herbert (10663522 Canada Inc.), a unique brand platform that focuses on the adult-use cannabis beverage and edibles market. Canopy Rivers subscribed for $1.5 million of preferred shares in Herbert, and received incremental warrants entitling Canopy Rivers to increase its economic interest in Herbert under certain circumstances, as well as other governance-related rights.

Cassels acted for Canopy Rivers with a deal team that included Jonathan Sherman, Aly Somani and Michael Britton (Business and Cannabis).


RELATED EXPERTISE: Business | Cannabis | Private Equity | High Growth & Venture Capital