Each week, DCN will curate a rundown of startup, tech, and innovation news in the cannabis industry for its new series, DCN Micro News.

February 4th, 2019 

Canopy Rivers Announces Completion of $17 Million Financing for Its Italian Hemp Platform – Canapar

Canopy Rivers Inc. (the “Company” or “Canopy Rivers”) (TSXV: RIV) is pleased to announce that it has completed a subsequent $9.4 million equity investment in its portfolio company Canapar Corp. (“Canapar Canada”), the Canadian parent corporation of Canapar SrL (“Canapar Italy”), an Italy-based organic hemp production and processing platform. The investment aligns with the Company’s global-focused growth strategy and is expected to provide the Company with the opportunity to capitalize on the rapidly expanding European cannabidiol (“CBD”) market.

Original Press Release, click here.

February 5th, 2019

CROP Announces Closing Oversubscribed Private Placement

CROP INFRASTRUCTURE CORP. (CSE: CROP) (OTC: CRXPF) (Frankfurt: 2FR) announced today it has closed it’s previously announced $0.30-unit non-brokered private placement for gross proceeds of $3,086,244 by the issuance of 10,287,480 units. Each $0.30 unit consists of one common share and one whole common share purchase warrant exercisable at $0.50 per warrant for a period of two years from the date of issuance.

With the closing of this private placement, CROP is now capitalized to complete the construction of its 40-acre outdoor Nevada farm, build an additional 30,000 square feet of greenhouse space in California and begin identifying entry opportunities into additional states.

Original Press Release, Click Here.

February 6th, 2019

Khiron Life Sciences Enters Into $20 Million Bought Deal Equity Financing

Khiron Life Sciences Corp. (“Khiron” or the “Company”) (TSXV: KHRN), (OTCQB: KHRNF), (Frankfurt: A2JMZC) is pleased to announce that it has entered into an agreement with Canaccord Genuity Corp. and BMO Capital Markets as co-lead underwriters and joint bookrunners, and including Cormark Securities Inc. (together, the “Underwriters”) under which the Underwriters have agreed to purchase 9,100,000 common shares of the Company (“Common Shares”), on a “bought deal” basis pursuant to a short form prospectus offering, subject to all required regulatory approvals, at a price per Common Share of $2.20 (the “Issue Price”) for gross proceeds of $20,020,000 (the “Offering”).

The Company intends to use the net proceeds of the Offering to expand the Company’s operating capacity and for working capital requirements and other general corporate purposes.

Original Press Release, Click Here.

48North Closes its $10 million Private Placement, Ready to Deliver on its 100-acre Outdoor Farm

48North Cannabis Corp. (“48North” or the “Company”) (TSXV:NRTH) is pleased to announce the closing of its $10,000,000 private placement. Following the completion of the $3,000,000 strategic investment from Canopy Growth Corporation (“Canopy Growth”) (TSX: WEED,NYSE: CGC), 48North today closed on the additional $7,045,000 from a leading US-based private investment fund, the second and final tranche of its $10,000,000 private placement.

The private placement provides capital and liquidity to support the continued expansion of 48North, including the development of its 100-acre farm and large-scale extraction capabilities to significantly increase 2019 production and facilitate the rapid development of innovative, next-generation cannabis products.

Original Press Release, Click Here.

February 7th, 2019

Canopy Growth to inject $30 million in additional capital into Canopy Rivers Inc.

Canopy Growth Corporation (“Canopy Growth” or the “Company”) (TSX: WEED) (NYSE: CGC) is pleased to announce that it intends to increase its total investment in Canopy Rivers Inc. (“Canopy Rivers”) (TSXV: RIV) by $30 million (CDN). The investment will be made through a private placement of subordinated voting shares in the capital of Canopy Rivers (the “Subordinate Voting Shares”) concurrent with Canopy Rivers bought deal offering of Subordinate Voting Shares for gross proceeds of approximately $55 million. This investment is being co-led by CIBC Capital Markets and Eight Capital and is expected to close on or about February 27, 2019.

Original Press Release, Click Here.

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