TORONTO — The venture capital arm of marijuana company Canopy Growth goes public on the TSX Venture exchange today amid a cannabis stock craze.
Canopy Rivers, a subsidiary which pursues investment opportunities in the marijuana sector, begins trading today under the ticker symbol, “RIV” via a reverse-takeover of AIM2.
Its investment portfolio includes licensed producer Agripharm and Solo Growth, a retail cannabis distributor.
Canopy Growth’s chief executive and acting chief executive of Canopy Rivers Bruce Linton says the subsidiary allows the Smiths Falls, Ont.-based cannabis company to grow its lead in the industry.
The listing comes one day after shares of Nanaimo, B.C.-based Tilray went on a wild ride, surging more than 90 per cent then briefly dropping into negative territory and rebounding to close up roughly 38 per cent, at more than US$214.
Tilray, which completed its initial public offering on the Nasdaq in July with shares priced at US$17, earlier this week said it got approval to export medical cannabis to the U.S. for a clinical trial.
The Canadian Press