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BRIEF-Canopy Rivers Announces Proposed Restructuring Of Investment In Terrascend

Published 2018-10-09, 07:42 a/m
© Reuters.  BRIEF-Canopy Rivers Announces Proposed Restructuring Of Investment In Terrascend
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Oct 9 (Reuters) - Canopy Rivers Inc RIV.V :

* CANOPY RIVERS ANNOUNCES PROPOSED RESTRUCTURING OF INVESTMENT IN TERRASCEND

* CANOPY RIVERS INC - TERRASCEND WILL RESTRUCTURE ITS SHARE CAPITAL BY WAY OF A PLAN OF ARRANGEMENT UNDER BUSINESS CORPORATIONS ACT

* CANOPY RIVERS INC - TERRASCEND TO PURSUE STRATEGIC TRANSACTIONS IN CANNABIS SECTOR INTERNATIONALLY

* CANOPY RIVERS INC - AGREED TO WAIVE CERTAIN RESTRICTIVE COVENANTS THAT WERE GRANTED BY TERRASCEND

* CANOPY RIVERS INC - CURRENTLY OWNS 11.3 MILLION COMMON SHARES IN CAPITAL OF TERRASCEND AND COMMON SHARE PURCHASE WARRANTS

* CANOPY RIVERS INC - WILL EXERCISE ITS WARRANTS FOR NO CASH CONSIDERATION, RESULTING IN NET ISSUANCE OF 8.2 MILLION COMMON SHARES

* CANOPY RIVERS INC - EXCHANGEABLE SHARES ARE NOT TRANSFERRABLE OR MONETIZABLE UNTIL EXCHANGED INTO COMMON SHARES

* CANOPY RIVERS-IN INTERIM, HOLDER OF EXCHANGEABLE SHARES WILL NOT BE ENTITLED TO VOTING RIGHTS, DIVIDENDS, OTHER RIGHTS UPON DISSOLUTION OF TERRASCEND

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