Canopy Rivers Inc. is a venture capital firm that specializes in cannabis. Its portfolio company, Herbert Works Ltd., has received a research and development licence from Health Canada to develop cannabis-infused beverages. This is a significant event for Herbert Works as the company continues to develop innovative and sought-after THC-infused beverages. The President and CEO stated that it is a timely achievement as the next wave of legalization in Canada is expected by the end of this year. Edibles are expected to be legalized which includes the beverage category. Herbert Works is in an optimal position to benefit from the growth opportunities that ‘Cannabis 2.0’ offers.
Many consumers are looking for cannabis products in different formats and this product answers that demand. Herbert Works is looking to combine advanced technology with its knowledge and appreciation for experience-enhancing cannabis. They are hoping to create products that are designed with consumers’ lifestyles in mind. Canopy Rivers currently holds 23% of the equity of Herbert Works on a fully diluted basis. For more information on Canopy Rivers’ investment in Herbert Works, the company’s annual information form, filed with the Canadian securities regulators, is available on the company’s profile at sedar.com