Canopy Rivers Inc has provided a company wide portfolio update on: Headset, TerrAscend JWC, and YSS.
Canopy Rivers Inc, a venture capital firm specializing in cannabis, portfolio companies continued broadening their operations as they aim for success in the growing market. For one company, this meant introducing more tools to help cannabis retailers understand consumers, while another agreed to expand its distribution network by leveraging Canopy Rivers' strategic alliance with Kindred Partners Inc. ("Kindred"). A summary of key developments includes the following:
Headset, Inc. ("Headset") launched Retail Market Benchmark for Headset Retailer, its retail data intelligence tool. Now, cannabis retailers can keep track of their sales metrics and enable Vendor Managed Inventory with vendors, and also use the tool to compare metrics to the overall marketplace.
The Retail Market Benchmark combines real-time retail data with data from Headset's other competitive intelligence tool, Headset Insights, as well as market projections, making it an accurate and comprehensive market analysis tool for the cannabis industry.
TerrAscend Corp appointed Jason Ackerman to its Board of Directors. Mr. Ackerman, the founder and former CEO of online grocer FreshDirect, was also named Executive Chairman, and will oversee day-to-day operations from the company's New York office as it builds its U.S. leadership team.
James E. Wagner Cultivation Corporation entered into a CDN $4 million loan agreement with Trichome Financial Corp. JWC plans to use the loan proceeds to finance the completion its flagship facility in Kitchener, Ontario, fund the launch of new products, and for general working capital requirements.
Second, JWC made two announcements that we believe strengthens its position as a leading producer and supplier of premium cannabis products. First, it entered into a supply and manufacturing agreement with CannaCure Corporation, a wholly-owned subsidiary of Heritage Cannabis Holdings Corp., for the formulation and filling of vape cartridges for the Canadian recreational and medical cannabis markets. JWC also entered into a brokerage agreement with Kindred that will see Kindred serve as the exclusive broker for JWC's adult use cannabis products in Canada.
YSS Corp became the first company in western Canada to open the TSX/TSXV markets from a retail location on November 12, 2019. YSS currently operates 13 retail locations, including eight YSS locations and another five under the Sweet Tree brand. YSS expects that expansion will continue at a measured pace with additional store openings planned before the end of 2019, supported by new cannabis formats, including oil vaporizers, beverages, edibles, concentrates, and topicals that are expected to hit the market in early 2020
Disclaimer: Past performance is not an indicator of future performance.
Disclaimer: past performance is not an indicator of future performance
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