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Agripharm Wins Approval for Outdoor Cultivation License

ME Staff

Canopy Rivers (TSXV: RIV) (OTC: CNPOF) announced that its portfolio company Agripharm Corp. received its outdoor cultivation license from Health Canada.

Agripharm is co-owned by SLANG (CNSX: SLNG), Canopy Growth (NYSE: CGC) and Green House Holdings North America and received a strategic investment from Canopy Rivers.

Canopy Rivers provided the capital to finance the build-out of Agripharm’s growing facilities in exchange for a long-term royalty interest subject to annual cash flow minimums. The company made its strategic investment in Agripharm in 2017, recognizing the strength of its extraction capabilities and its unique partnerships with Green House Seed Co. and SLANG.

Agripharm Business

Agripharm will be growing its first outdoor crop this summer at its Creemore, Ontario location using genetics.

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“Agripharm’s outdoor production is ahead of the curve with support from Green House Brands, which provides decades of experience in choosing, and successfully growing, the best genetics for open-air crops,” Canopy Rivers COO Oliver Dufourmantelle stated.

Founded in 2013, Agripharm is home to both the first cannabis production facility built from the ground up and the first supercritical CO2 extraction lab in Canada.

Agripharm has the exclusive Canadian rights to the intellectual property, strains and brands of Green House Seed Co., a provider of cannabis genetics, and its sister brand Strain Hunters.

Agripharm is also the Canadian distributor of SLANG’s portfolio of U.S. consumer cannabis brands including, O.penVAPE, Bakked, District Edibles, and Magic Buzz.

“With access to strains optimized for outdoor production from the world’s leading genetics portfolio, Agripharm is well-positioned to significantly increase its production capacity for extraction,” Dufourmantelle noted.

The post Agripharm Wins Approval for Outdoor Cultivation License appeared first on Market Exclusive.