Canopy Rivers invests $2M in Edmonton cannabis gummies company
Canopy Rivers' ownership stake in Dynaleo will be 12.2%
TORONTO – Canopy Rivers Inc. announced on May 4 that the company has made a $2-million investment in Dynaleo Inc., an Edmonton-based company focused on edible cannabis gummies.
Canopy Rivers, which operates as a cannabis venture capital firm, said in a statement that its investment in Dynaleo is structured as an unsecured convertible debenture with additional warrant coverage.
Dynaleo has built a manufacturing facility and submitted the supporting documentation for a standard processing license to Health Canada.
The company plans white-label production of CBD and THC edibles for the Canadian market that can be customized to meet customer’s needs and regulatory requirements.
The debenture is convertible at the company’s option into common shares of Dynaleo.
Upon conversion of the debenture and exercise of the warrants, and assuming no further changes, Canopy Rivers’ ownership stake in the company will be 12.2%.