Canopy Rivers Increases CPG Portfolio with Investment in High Beauty

Published: April 17, 2019

Canopy Rivers Inc. and High Beauty, Inc. announced the completion of an investment by Canopy Rivers in High Beauty, creator of industry-leading cannabis beauty brand high. Canopy Rivers has subscribed for US$2.5 million of shares in High Beauty, representing 18.4% of the company on a fully diluted basis, including additional warrant coverage.

“Being supported by Canopy Rivers enables us to collaborate within the Canopy Rivers ecosystem and to focus our energy and passion on the creation of a robust new product line using cannabis-derived extracts,” said Melissa Jochim, a highly successful formulator and Founder of High Beauty. “Cannabis sativa seed oil is an untapped ingredient resource with amazing skincare benefits. This partnership will allow us to scale High Beauty’s business much “higher” in a short time frame.”

Management believes that High Beauty has a competitive advantage in the global beauty market through its distribution partnership with Sephora (EPA: MC), an established leader in global prestige omni-channel retail. Defined by its unique, open-sell environment, Sephora’s curated assortment of brands includes trusted classics, indie and emerging favorites, and their own brand, Sephora Collection. The brand and beauty experts at Sephora have been involved in the evolution of high from concept to shelf, and the products have been specifically developed to meet “Clean at Sephora” standards – a “free of” designation that meets consumers’ needs for products free of questionable and unwanted ingredients.

High is expertly formulated to deliver cannabis sativa seed oil in combination with certified organic plant oils, high-potency antioxidants and pure plant essential oils for healthy, beautiful skin. High helps calm inflammation, balances all skin types with adaptogens, protects with potent antioxidants, and hydrates and replenishes. High Beauty’s High Five Cannabis Facial Moisturizer, a moisturizer containing cannabis sativa seed oil and potent plant actives, is used in the morning like a daily skin vitamin. And for nighttime routines, High Beauty’s High Expectations Cannabis Facial Oil helps provide intensive repair, hydration and replenishment.

“We have been actively pursuing opportunities in the health and beauty industry, guided by a growing consumer trend of brand new, innovative and functional beauty products. Enter high,” said Narbe Alexandrian, President of Canopy Rivers. “Led by Melissa Jochim, a repeat entrepreneur, preeminent formulator and brand developer coming from the natural, organic segment of the beauty industry, high has already captured mindshare and awareness of consumers – it has all the makings to continue to be a prominent brand in the cannabis-infused beauty market.”