07:43 AM EDT, 08/16/2019 (MT Newswires) -- Canopy Rivers (RIV.V) -- which fell 9% to near a 52 week low of $2.28 yesterday -- said overnight Thursday that its portfolio companies, James E. Wagner Cultivation Corporation, (JWCA.V) and TerrAscend Corp. (CSE: TER), have entered into a purchase and supply agreement.
Under the agreement, JWC will supply cannabis flower and oils to TerrAscend, which will be made available for purchase on TER's online medical sales platform, Solace Health, providing JWC with exposure to thousands of registered medical patients across Canada.
Canopy Rivers COO Olivier Dufourmantelle said: "The collaboration between JWC and TerrAscend is evidence of the Canopy Rivers ecosystem at work. Portfolio companies that work together, thrive together. We are constantly striving to broker opportunities for synergy and collaboration within our portfolio."
Canopy Rivers currently holds approximately 14% of the issued and outstanding common shares in the capital of JWC and owns exchangeable shares in TerrAscend.
As the portfolio continues to develop, constituents will be provided with opportunities to work with Canopy Growth Corporation (WEED.TO), according to a statement.