Canopy Growth is officially not messing around. The Canadian cannabis firm is pumping an extra C$30m ($22.61m) into its investing arm Canopy Rivers.

The payment will be made via a private placement of subordinated voting shares in the capital of Canopy Rivers in parallel with Canopy Rivers bought deal offering of subordinate voting shares.

After the closing of the deal, Canopy Growth will increase its ownership of Canopy Rivers shares to 27.3 percent from about 26.5 percent.

“The advantage of a strengthened Canopy Rivers/Canopy Growth relationship is that it accelerates and de-risks execution for invested companies,” said Bruce Linton, Canopy Growth’s founder and co-CEO, in a statement.

“By increasing Canopy Growth’s investment in Canopy Rivers, we are demonstrating our interest in growing great companies, developing selective opportunities and delivering Canopy’s shareholders more growth,” added Linton.

The investment is being co-led by CIBC Capital Markets and is expected to close on or around February 27.

Canopy Rivers also announced it has pumped C$9.4m equity investment in its portfolio company Canapar Corp, an Italy-based organic hemp production and processing platform.

Canopy Rivers works collaboratively with Canopy Growth to identify strategic counterparties seeking financial and/or operating support.

The investment is a further sign of the Canadian cannabis pioneer’s aggressive growth strategy and attempt to gain a stranglehold on the European cannabidiol market.

“Canopy Rivers’ investment in Canapar represents a clear validation of our ability to execute on our strategy and the market opportunity in Europe,” said Sergio Martines, chief executive of Canapar Italy. “We expect to leverage this financing to enhance value for all stakeholders in Canapar and we look forward to a long-term partnership with Canopy Rivers.”

Although an impeding CBD ban may upset the European applecart somewhat, this is not enough to stop Canopy charging headfirst into the market in the hopes of becoming the prime mover as certain states look to embrace cannabis businesses.

Canapar Italy is a Sicily-based manufacturer and processor of CBD oil and isolates, which are increasingly used as an input into new commercial products in the health and wellness industries.

Canapar Italy has secured more than 1,000 hectares of hemp through its outsource farming model and entered into an academic partnership with the University of Catania’s Department of Agriculture.

The company is also advancing its CBD extraction and processing capabilities through its new facility and is expecting to transform 600 metric tons of hemp biomass annually into CBD isolates and derivative products for distribution in Europe.

Canapar Italy plans on developing CBD-infused cosmetics, skincare, and beauty products for the Italian cosmetics market, which is the fourth largest such market in Europe, as well as the global market, which provides strong demand for “Made in Italy” brands.Cannabis Business Worldwide