Canopy Growth Corp.'s investment subsidiary Canopy Rivers will likely go public on the TSX Venture Exchange next month, the Canadian cannabis producer’s co-CEO Bruce Linton said Thursday. 

Linton made the remarks on the sidelines of a marijuana business conference in Toronto following a panel discussion he delivered to a standing-room-only crowd. The remarks come a day after Canopy Growth announced U.S. alcohol distributor Constellation Brands is investing another $5 billion to raise its stake in the company to 38 per cent. Linton said in a Wednesday conference call the investment provides "rocket fuel" for the cannabis company's global ambitions. 

"Tentatively, [Canopy Rivers is going public] next month," Linton told reporters Thursday. 

In May, Canopy Rivers announced it would conduct a reverse takeover with AIM2 Ventures Inc. ​to list on the Venture exchange. ​Canopy Growth (WEED.TO) has about a 30 per cent stake in Canopy Rivers. 

Canopy Rivers is an investment-type company akin to a venture capital fund that takes small investments in cannabis companies and provides them with expertise from its parent company.

"It's the VC fund model with a big brother behind it that can bring intellectual skillsets and experience that knows that 'if you do that, then this will happen,'" Linton said. 

Canopy Rivers has taken out equity stakes in eight companies involved in the marijuana space including brand rights, cultivation consultants and food processors and has the ability to wholly acquire them, Linton said. 

The company recently closed a $104-million private placement deal in July that was co-led by CIBC and GMP Securities. Linton added that the funds from the private placement recently closed but the company can't access that capital "until we go public."