Canopy Rivers Inc., a venture capital firm dedicated to the cannabis business, has announced that three of its portfolio companies are growing their footprint in the North American cannabis market. According to the announcement, the companies are working on either new or expanded choices for both cannabis consumers and medical patients located in the US and Canada. The companies making Canopy Rivers’ operations bigger are Dynaleo Inc., Agripharm Corp. and TerrAscend Corp.
“We continue to be impressed with the ability of our portfolio companies to respond to shifting consumer demands in the cannabis space while executing on their long-term strategies,” said Narbé Alexandrian, President and CEO of Canopy Rivers. “We still see greenfield in the Canadian brand market, and we are excited to see both Agripharm and Dynaleo taking steps to introduce Canadians to brands that have proven track records in U.S. markets.”
Dynaleo, an Edmonton-based manufacturer of cannabis-infused gummies, recently signed a new agreement with the California-based edibles brand Pantry to be distributed in Canada. The agreement comes right after Dynaleo obtained a processing license from Health Canada, which will also represent the first international expansion of Pantry’s products beyond the US, where it mainly distributes cannabis-infused food brands for the recreational market.
Agripharm Corp. also got an amendment to its license obtained from Health Canada, so now the company is authorized to sell dried cannabis, extracts, edibles and topicals. The amendment also allows Agripharm to exercise its exclusive rights to distribute the brands from SLANG Worldwide Inc. and Green House Seed Co. across Canada.
Finally, TerrAscend Corp continues to expand in Pennsylvania with the recent opening of its third Apothecarium location in the state. The company is fully committed to serving medical marijuana patients as the state’s program continues to grow. The new dispensary is a 5,000-square-foot facility with private consultation rooms, highly trained staff and a wide variety of products, including online ordering.