Canopy Rivers to Report Third Quarter Fiscal 2019 Financial Results

TORONTO, Feb. 13, 2019 (GLOBE NEWSWIRE) -- Canopy Rivers Inc. (the “Company”) (TSXV: RIV) will report its third quarter fiscal 2019 financial results after markets close on Wednesday February 27, 2019. The Company’s unaudited condensed interim financial statements and Management’s Discussion and Analysis for the three and nine months ended December 31, 2018 will be available on the Company’s profile on SEDAR at www.sedar.com and in the Investors section of the Company’s website at www.canopyrivers.com.

Certain preliminary financial information pertaining to the Company may also be found in the financial results released by Canopy Growth Corporation (TSX: WEED, NYSE: CGC) that is currently scheduled to be released on February 14, 2019. All preliminary financial information with respect to the quarter ended December 31, 2018 pertaining to the Company in the financial results of Canopy Growth Corporation are preliminary and are unaudited and subject to change and adjustment as the Company prepares its consolidated financial statements for the quarter ended December 31, 2018. Accordingly, investors are cautioned not to place undue reliance on the preliminary financial information. The preliminary results constitute “forward-looking information” within the meaning of applicable Canadian securities laws and are subject to a number of risks and uncertainties. Actual results may differ materially. See “Forward-looking Statements”.

About Canopy Rivers Inc. 
The Company is a unique investment and operating platform structured to pursue investment opportunities in the emerging global cannabis sector. The Company works collaboratively with Canopy Growth Corporation (TSX: WEED, NYSE: CGC) to identify strategic counterparties seeking financial and/or operating support. The Company has developed an investment ecosystem of complementary cannabis operating companies that represent various segments of the value chain across the emerging cannabis sector. As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth and collaborate among themselves, which the Company believes will maximize value for its shareholders and foster an environment of innovation, synergy and value creation for the entire ecosystem.

Forward-Looking Statements

This news release contains statements which constitute “forward-looking information” within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of the Company with respect to future business activities and operating performance. To the extent any forward-looking information referred to in this news release constitutes "financial outlooks" within the meaning of applicable Canadian securities laws, such information is preliminary financial results for the quarter ended December 31, 2018 and the reader is cautioned that this information may not be appropriate for any other purpose and the reader should not place undue reliance on such financial outlooks. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical facts but instead reflects management’s expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although the Company believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of the Company. Financial outlooks, as with forward-looking information generally, are, without limitation, based on the assumptions and subject to various risks as set out herein. The Company’s actual financial position and results of operations may differ materially from current expectations. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: the preliminary financial results are subject to the completion of the Company's financial closing procedures and have not been audited or reviewed by the Company's independent registered public accounting firm; regulatory and licensing risks; changes in general economic, business and political conditions, including changes in the financial markets; potential conflicts of interest; the Canadian regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; changes in applicable laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in the joint management information circular of Canopy Rivers Corporation and the Company dated August 8, 2018, filed with Canadian securities regulators and available on the Company’s profile on SEDAR at www.sedar.com.

Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

For further information:

Canopy Rivers Inc.
www.canopyrivers.com

Karoline Hunter
Sr. Director, Investor Relations & Communications
E-mail: ir@canopyrivers.com 

Daniel Pearlstein
Executive Vice President, Strategy
E-mail: daniel@canopyrivers.com