Canopy Rivers Inc (CVE:RIV) CFO Eddie Lucarelli is happy with the company’s performance last quarter – and he has reason to smile. Rivers reported a net income of $11 million and a comprehensive income of $38 million for the period ending September 30. Lucarelli’s enthusiasm for the company’s performance extends beyond revenue and he highlights several key milestones achieved in the quarter such as the completion of an RTO and a private placement co-led by CIBC (the Big Five bank’s first inroad into the cannabis sector). During the period the company also made its first international investment. Rivers reached a deal with Italy’s Canapar, an industrial hemp producer and organic CBD extractor that has a significant research partnership with the University of Catania. Canopy Rivers has $40 million earmarked for further investment and is increasingly looking to ancillary companies in the space because of the multiplier effect.

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