Canopy Rivers takes 18.4 per cent stake in High Beauty for US$2.5 million

TORONTO — Canopy Rivers Inc., the venture capital arm of Canopy Growth Corp., has acquired an 18.4 per cent stake in High Beauty Inc. for US$2.5 million.

Canopy Rivers works collaboratively with Canopy Growth to identify investment opportunities in the cannabis sector.

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High Beauty founder Melissa Jochim says the partnership will help the company focus its energy on the creation of a new product line using cannabis-derived extracts.

High Beauty makes beauty products using cannabis sativa seed extracts, which are legal and free of psychoactive substances.

High Beauty has a distribution partnership with retailer Sephora.

Companies in this story: (TSXV:RIV, TSX:WEED)

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