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Canopy Rivers invests in Edmonton-based edibles manufacturer
May 5, 2020 By Grow Opportunity staff
Canopy Rivers Inc. is expanding its investment in the edibles market.
The company is investing $2 million in Dynaleo Inc., an edible gummies manufacturer in Edmonton, Alta. Dynaleo is currently waiting for approval for required licensing from Health Canada to begin operating its 27,000 sq. ft. purpose-built facility.
“We believe that Dynaleo is positioned to become a market leader in cannabis edibles manufacturing in Canada,” said Narbé Alexandrian, President & CEO of Canopy Rivers.
“In the gummies market specifically, we see a significant supply and demand imbalance and a move towards outsourcing products to leading manufacturers. We think Dynaleo’s manufacturing capabilities, combined with its capable management team, position it to help close this supply gap in the short term and become a trusted manufacturer of cannabis edibles in the long term.”
Dynaleo has completed construction of its purpose-built facility and has submitted all documentation for a standard processing licence to Health Canada. Once licensed, the company says Dynaleo expects to develop a customer pipeline that includes both licensed producers as well as traditional consumer packaged goods companies.
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