Canopy Rivers Portfolio Company Receives Milestone Health Canada Licence Amendment

Canopy Rivers Portfolio Company Receives Milestone Health Canada Licence Amendment

Canada NewsWire

TORONTO, Oct. 15, 2019 /CNW/ – Canopy Rivers (“Canopy Rivers“) (TSX: RIV, OTC: CNPOF), a venture capital firm specializing in cannabis, today announced that its portfolio company James E. Wagner Cultivation Corporation (“JWC“) (TSXV: JWCA, OTCQX: JWCAF) received a Health Canada licence amendment allowing for cannabis production in four new flowering rooms at its flagship facility in Kitchener, Ontario.

Canopy Rivers Inc. (CNW Group/Canopy Rivers Inc.)

“We believe that this licence amendment demonstrates Health Canada’s recognition of JWC, the quality of its operations, and its disciplined approach to expansion,” said Olivier Dufourmantelle, Chief Operating Officer, Canopy Rivers. “Through its supply agreement with TerrAscend, JWC has an active role in the Canopy Rivers ecosystem. We’ve seen that companies that work together, thrive together, and we think this Health Canada approval will enable JWC to increase production and further collaborate within the Canopy Rivers ecosystem.”

The additional flowering rooms are part of an ongoing program to expand JWC’s existing production capacity. At full-scale, the facility will measure 345,000 square feet. Like the previously licensed space, the newly licensed areas will be equipped with JWC’s proprietary GrowthSTORM™ Dual Droplet™ System. GrowthSTORM™ is an aeroponic method that sees plant roots suspended in the air and misted at regular intervals using specified nutrient solutions adapted for the system. When combined with the GrowthSTORM™ Management system, this method delivers a precise cultivation technique with the ability to collect and analyze data to continually deliver consistent, high-quality cannabis. More information on GrowthSTORM™ can be found on JWC’s website.

Once fully operational, the new flowering rooms will double the facility’s current licensed production capacity from 22,000 square feet, to approximately 44,500 square feet. The additional spaces are composed of two pods, each consisting of two flowering rooms, with each room containing approximately 5,500 square feet of cultivation space.

About Canopy Rivers

Canopy Rivers is a venture capital firm specializing in cannabis. Its unique investment and operating platform is structured to pursue investment opportunities in the emerging global cannabis sector. Canopy Rivers identifies strategic counterparties seeking financial and/or operating support. Canopy Rivers 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 Corporation (TSX: WEED, NYSE: CGC) and collaborate among themselves, which Canopy Rivers 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 Canopy Rivers with respect to future business activities and operating performance. Forward-looking information is often identified by the words “may”, “would”, “could”, “should”, “will”, “intend”, “plan”, “anticipate”, “believe”, “estimate”, “expect” or similar expressions and includes information regarding: the impact of the licence amendment on JWC’s production capacity; the size of JWC’s full-scale facility and JWC’s intention to equip the newly licenced areas with the GrowthSTORM™ Dual Droplet™ System; management’s belief that this Health Canada approval will enable JWC to increase production and further collaborate within the Canopy Rivers ecosystem; and expectations for other economic, business, and/or competitive factors.

Investors are cautioned that forward-looking information is not based on historical fact 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 Canopy Rivers 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 Canopy Rivers. Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: regulatory and licensing risks; the actual impact of the licence amendment on JWC’s production capacity and ability to collaborate within the Canopy Rivers ecosystem; changes in JWC’s plans with respect to its facility and the newly licenced areas; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation; public opinion and perception of the cannabis industry; and the risk factors set out in Canopy Rivers’ annual information form dated July 15, 2019, filed with the Canadian securities regulators and available on Canopy Rivers’ 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 Canopy Rivers has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. Canopy Rivers does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

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SOURCE Canopy Rivers Inc.

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Seoul Announces Plan to Transform into a “Global Open Platform City”

Seoul Announces Plan to Transform into a “Global Open Platform City”

– Declared in front of 4,000 people with the slogan, “From Seoul to the World, Making Seoul a Center of Global Start-Up Entrepreneurism”

– The 1st test bed company to expand overseas and three more companies to enter the Chinese market

Canada NewsWire

SEOUL, South Korea, Oct. 15, 2019 /CNW/ — Seoul Metropolitan City announced the plan to transform itself into a Global Open Platform City’ during “Start-Up Seoul: Tech-Rise 2019”, an event held at the Dongdaemun Design Plaza (DDP) on October 4-6th. This declaration is about various support plans for fostering global start-ups.

Mayor of Seoul Metropolitan City, Park, Wonsoon is delivering a speech at "Start-Up Seoul: Tech-Rise 2019"

“Start-Up Seoul: Tech-Rise 2019” is the first global start-up event hosted by Seoul Metropolitan City. The three-day event was a big success with about 300 start-up companies and organizations from about 20 countries participating and a total of 4000 visitors.

During this event, a start-up company Toy’s Myth Co., Ltd. signed an agreement to export TARS (Transport Analytics & Report Solution), its congestion solution that’s been used on Seoul’s subway line 5, to the Mass Rapid Transit Authority of Thailand. The agreement marks Toy’s Myth as Seoul’sfirst test bed company to expand extend its business overseas.

Toy’s Myth builds its subway congestion and environmental analysis system based on IoT sensors and big data. For soft-landing in Thailand, Toy’s Myth has signed an MOU with Computer Union and a distribution partner agreement with WinWon. Toy’s Myth will be supplying its analysis system to organizations and companies of Thailand through cooperation with consortium among these three companies. “We have performed inspection on Seoul subways, and we are positive that it will be useful in allocation of public transportation and hourly user analysis” said Waring Laoponghan, CEO of WinWon.

Earlier this year, Seoul Metropolitan City declared itself as “Test bed Seoul” in May. Currently, Seoul is opening up its public infrastructure such as subway, road, bridges, municipal hospital and underground shopping center as a “test bed” to test the performance and effectiveness of prototypes and services created with innovative technologies including blockchain, fintech, and AI and verify their business viability. “Thanks to the opening of public infrastructure as a test bed for new technology, which was vital in our success, we were able to investigate our technology by installing IoT sensors in Seoul subway line 5,” said Seo, Hyeongjun, CEO of Toy’s Myth Co., Ltd.

Seoul is undertaking various activities to make Seoul the city of opportunity for innovative start-up companies under the keynote of “Global Open Platform Startup City”. For example, the city hosted a competitive exhibition for start-up companies in manufacturing industry in cooperation with the Chinese hardware accelerator iMakerbase. Three companies, Seojin FNI, Sijung and Replay were selected as the winner of this competition. The three companies will be given the opportunity to secure outlets to sell their products directly in China, as well as to mass produce them in China.

“Start-Up Seoul: Tech-Rise 2019” also featured talks and discourses from authorities on start-ups from Silicon Valley and Singapore. J.F. Gauthier, founder of Startup Genome, a Silicon Valley-based global startup ecosystem research organization and Chris Yeo, head of Grab Ventures, Grab’s venture capital, known as Asia’s “Uber” attended the event. Also visited the event was the founder and curator of “Museum of Failure”, Samuel West, ph. D. A special exhibition was held at Seoul Startup Hub, a start-up incubator under the city of Seoul, showcasing 12 works that collected several global cases that evolved from failure, selected from the “Museum of Failure”.

In recent years the foreign start-up investment institutions at Seoul Startup Hub have increased from 2 companies to 12 companies, also increased from 2 countries to 9 countries. The city of Seoul will dramatically improve the startup conditions for foreigners. For example, Seoul will cooperate with the Ministry of Justice in establishing fast-track visas for start-ups as part of the “Global Open Platform Start-up City” plan. Furthermore, Seoul plans to focus on housing support projects by 2022 to ensure that global entrepreneurs don’t have difficulties in settling in Korea.

“The city will expand 1,000 spaces for technology start-up companies by 2022 as a platform to cooperate and share startup resources and information,” announced Mayor Park, Wonsoon. “to foster core industrial clusters to establish governance to share resources and information.” “The city will also focus on building a Seoul start-up platform that connects various public and private infrastructures and services, including start-up programs, investments, and sharing resources.” he added. “We will ensure that citizens and global players receive systematically interconnected support”.

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SOURCE Seoul Metropolitan City

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AbraPlata Announces Non-Brokered Private Placement and Acceleration of Drilling Program at the Diablillos Silver-Gold Project

AbraPlata Announces Non-Brokered Private Placement and Acceleration of Drilling Program at the Diablillos Silver-Gold Project

Canada NewsWire

/NOT FOR DISTRIBUTION IN THE U.S. OR DISSEMINATION THROUGH U.S. NEWSWIRE SERVICES/

VANCOUVER, Oct. 15, 2019 /CNW/ – AbraPlata Resource Corp. (TSX.V:ABRA; OTCPK: ABBRF) (“AbraPlata” or the “Company”) is pleased to announce that, subject to TSX Venture Exchange approval, it will conduct a non-brokered private placement of units (“Units”) at a price of CAD$0.06 per Unit (the “Financing”). Pursuant to the Financing, the Company is targeting to raise approximately CAD$1,500,000 through the issuance of 25,000,000 Units.

Aethon Logo (CNW Group/Aethon Minerals)

Each Unit will consist of one common share in the equity of the Company and one share purchase warrant (each, a “Warrant”). Each Warrant entitles the holder to purchase one additional common share in the equity of the Company at a price of CAD$0.10 per share for a period of two years from the closing date of the Financing.

The proceeds of the Financing will be used to commence a diamond drill program at the Diablillos silver-gold project and for general working capital purposes. The Company may pay finder’s fees in respect to the Financing. Securities issued as a result of the Financing will be subject to a statutory hold period of four months. Closing of the Financing is expected by October 31, 2019.

Rob Bruggeman, Interim CEO of AbraPlata stated, “The transaction with Aethon is proceeding very well. AbraPlata has been working with Aethon to define a drill program for the Diablillos silver-gold project and proceeds from the financing would allow us to commence that drill program at an earlier date than if we wait for the Aethon transaction to close. Aethon and AbraPlata’s geologists have outlined a drill program of approximately 3,000 metres of diamond drilling, in seven or eight holes, that will test extensions of high grade zones under the current resource at the Oculto deposit.”

The securities offered have not been, and will not be, registered under the United States Securities Act of 1933, as amended, (the “U.S. Securities Act”) or any U.S. state securities laws, and may not be offered or sold in the United States or to, or for the account or benefit of, United States persons absent registration or any applicable exemption from the registration requirements of the U.S. Securities Act and applicable U.S. state securities laws. This news release does not constitute an offer to sell or the solicitation of any offer to buy securities in the United States, nor in any other jurisdiction.

On September 12, 2019, AbraPlata and Aethon Minerals Corp. (“Aethon”) (TSX-V: AET) jointly announced that they had entered into an arrangement agreement (the “Arrangement Agreement”), pursuant to which AbraPlata will acquire all of the outstanding common shares of Aethon by way of a plan of arrangement pursuant to the Canada Business Corporations Act (the “Arrangement”).

Under the terms of the Arrangement Agreement, completion of the Financing requires the prior consent of Aethon. Aethon has given its consent to AbraPlata to complete the Financing, subject to having the right to review and comment upon the pertinent Financing documentation. In order to accommodate completion of the Financing prior to implementing the Arrangement, Aethon and AbraPlata have agreed to amend the Arrangement Agreement to extend by, approximately one month, the respective dates by which the proxy materials in respect of the meeting of Aethon’s shareholders to approve the Arrangement (the “Aethon Meeting”) must be mailed, the date by which the Aethon Meeting must be held, and the date by which the Arrangement must take effect. The parties have also agreed to increase the break fee payable in the event that either party terminates the Arrangement under certain prescribed circumstances, including termination in connection with pursuing an alternative transaction, from CAD$250,000 to CAD$500,000. The Arrangement is expected to close in December 2019.

John Miniotis, Interim CEO of Aethon stated, “Aethon has done considerable technical work on the Diablillos silver-gold project since early 2019 and that work is continuing as the transaction proceeds towards closing. The Oculto deposit at Diablillos has zones with impressive silver and gold grades that remain open at depth. Like AbraPlata, we are eager to conduct a drill program to test the continuation of high grade gold-rich zones underneath the current resource. With this proposed financing, we should be able to start drilling in order to have assay results early in the new year.”

About AbraPlata
AbraPlata is focused on exploring and advancing its flagship Diablillos silver-gold property, located in mining-friendly Salta province, Argentina. Diablillos has an Indicated Mineral Resource containing 80.9M oz silver and 732k oz gold. AbraPlata also owns the highly prospective Cerro Amarillo property with its cluster of five mineralized Cu-(Mo-Au) porphyry intrusions located in a mining camp hosting the behemoth El Teniente, Los Bronces, and Los Pelambres porphyry Cu-Mo deposits. As well, AbraPlata is exploring Aguas Perdidas, its wholly owned Patagonia-style epithermal Au-Ag property. AbraPlata is based in Vancouver, Canada, and is listed on the TSX-V under the symbol “ABRA”.

About Aethon Minerals
Aethon Minerals is a mineral exploration company focused on creating shareholder value. Aethon has a large prospective land position consisting of over 100,000 hectares along prolific mining belts located in the Antofagasta and Maricunga regions of northern Chile. The Company has an earn-in agreement with option to joint venture with Rio Tinto on the Arcas project in Chile, whereby Rio Tinto can fund up to US$25 million in exploration expenditures to earn up to a 75% interest in Arcas. Aethon believes it is uniquely positioned for growth and is actively pursuing selective exploration-stage growth opportunities. Aethon is based in Toronto, Canada, and is listed on the TSX-V under the symbol “AET”.

Qualified Person

All scientific and technical information in this news release has been approved by Willem Fuchter, PhD PGeo, director of AbraPlata and a qualified person as defined by National Instrument 43-101.

Cautionary Statements

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 news release.

This press release contains “forward -looking information” within the meaning of applicable Canadian securities laws. Any statements that express or involve discussions with respect to predictions, expectations, beliefs, plans, projections, objectives, assumptions or future events or performance (often, but not always, identified by words or phrases such as “believes”, “anticipates”, “expects”, “is expected”, “scheduled”, “estimates”, “pending”, “intends”, “plans”, “forecasts”, “targets”, or “hopes”, or variations of such words and phrases or statements that certain actions, events or results “may”, “could”, “would”, “will”, “should” “might”, “will be taken”, or “occur” and similar expressions) are not statements of historical fact and may be forward-looking statements. Forward-looking information herein includes, but is not limited to, statements that address activities, events or developments that Aethon and AbraPlata expect or anticipate will or may occur in the future, including statements with respect to the Financing and the Arrangement and the likelihood that the Financing will close and that the Arrangement will be consummated on the terms and timeline provided herein or at all.

In respect of the forward-looking statements and information concerning the likelihood that the Financing and the Arrangement will be consummated, Aethon and AbraPlata have provided such statements and information in reliance on certain assumptions that they each believe are reasonable at this time, including assumptions as to the ability of AbraPlata to complete the Financing, the ability of the parties to receive, in a timely manner and on satisfactory terms, the necessary regulatory, court, stock exchange and shareholder approvals where applicable; the ability of the parties to satisfy, in a timely manner, the other conditions to the completion of the Arrangement; general assumptions respecting the business and operations of both Aethon and AbraPlata, including that each business will continue to operate in a manner consistent with past practice and pursuant to certain industry and market conditions; and other expectations and assumptions concerning the Arrangement. Although Aethon and AbraPlata believe that the expectations reflected in these forward-looking statements are reasonable, neither Aethon nor AbraPlata can give assurance that these expectations will prove to have been correct, that the Financing and the Arrangement will be completed or that they will be completed on the terms and conditions contemplated in this press release.

Factors that could cause future results or events to differ materially from current expectations expressed or implied by the forward-looking statements include significant transaction costs or unknown liabilities; general business, economic, competitive, political and social uncertainties; the state of capital markets; risks relating to (i) the ability of the parties to satisfy the closing conditions set out in the Arrangement Agreement, including receipt of all requisite regulatory, court and stock exchange approvals, as applicable; (ii) an alternative transaction materializing prior to the completion of the Arrangement; (iii) the impact on the respective businesses, operations and financial condition of AbraPlata and Aethon resulting from the failure to complete the Financing or the Arrangement on terms described or at all; (iv) unforeseen challenges in integrating the businesses of AbraPlata and Aethon, (vii) failure to realize the anticipated benefits of the Arrangement, (viii) other unforeseen events, developments, or factors causing any of the aforesaid expectations, assumptions, and other factors ultimately being inaccurate or irrelevant; and other risks described in AbraPlata’s and Aethon’s documents filed on the SEDAR website at www.sedar.com.

Statements of mineral resources also constitute forward-looking information to the extent they represent estimates of mineralization that will be encountered on a property and/or estimates regarding future costs, revenues and other matters. Although Aethon and AbraPlata have attempted to identify important factors that could cause actual actions, events or results to differ materially from those described in forward-looking information, there may be other factors that cause actions, events or results not to be as anticipated, estimated or intended. There can be no assurance that such information will prove to be accurate, and actual results and future events could differ materially from those anticipated in such information. Accordingly, readers should not place undue reliance on forward-looking information. Neither Aethon nor AbraPlata undertakes to update any forward-looking information except in accordance with applicable securities laws.

AbraPlata Logo (CNW Group/Aethon Minerals)

SOURCE Aethon Minerals

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