A subsidiary of Canadian cannabis giant Canopy Growth is increasing its investment in an Italian hemp company.
The deal gives Canopy Rivers 49.9% ownership in CanapaR, up from 35%.
Canopy Rivers, which trades on the Toronto Stock Venture Exchange as RIV, is a global investment subsidiary of Canopy Growth.
CanapaR noted in the investment announcement that it’s developing a line of CBD-infused cosmetics.
“We are seeing increased demand for innovative CBD and cannabinoid-infused natural health and skin care products,” CanapaR CEO Sergio Martines said.