RIV CAP INC - CNPOF STOCK NEWS

RIV Capital (CSE: RIV) (OTC: CNPOF) and Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) have provided an update on their integration activities ahead of their planned merger. The companies are implementing best practices and SOPs, aligning strategic production planning, and expanding their brand portfolio. Key initiatives include introducing Fluent's brands to the New York market, launching new products, and enhancing in-store customer experiences. The merger aims to position the combined company as a leader in key growth markets, focusing on operational efficiency and profitability. RIV Capital urges shareholders to vote on the proposed business combination before the deadline of August 23, 2024, at 9:30 a.m. EDT.

RIV Capital has appointed David Vautrin as Chief Retail Officer ahead of its anticipated merger with Cansortium Inc. Vautrin will initially oversee retail and wholesale operations in New York. Vautrin's experience includes leading cannabis ventures in New York and California, notably with Harbour Community and Origin House. The merger with Cansortium aims to expand RIV Capital's footprint across key U.S. states. RIV Capital has also launched its first co-located adult-use and medical retail store in White Plains and plans to open additional retail locations later this year.

RIV Capital reported its financial results for Q1 2024, highlighting a pivotal quarter with the launch of its first adult-use dispensary in White Plains, NY. The company ended the quarter with $65.9 million in cash, supporting its growth strategy and proposed business combination with Cansortium. Net revenue increased to $2.1 million from $1.7 million in Q1 2023, driven by entry into the adult-use market. However, the company reported a net loss of $5.0 million, an improvement from the $23.6 million loss in Q1 2023. The comprehensive loss was $4.6 million compared to $24.7 million in the previous year. Key challenges included increased SG&A expenses and ongoing market competition. Positive regulatory changes in NY and potential federal cannabis rescheduling were noted as future growth catalysts.

RIV Capital Inc. applauds the potential rescheduling of cannabis by the DEA from Schedule I to Schedule III under the CSA, leading to tax relief, federal reform support, institutional investment access, and accelerated medical research opportunities. The company aims to unlock shareholder value through strategic growth initiatives.

RIV Capital Inc. reported financial results for the fiscal quarter and nine-month transition period ended December 31, 2023. Etain received approval to commence adult-use operations in New York, ending the year with $81.9 million in cash. The net loss was $47.3 million due to a non-cash impairment charge. Etain opened its first co-located dispensary in White Plains, NY. The company's strategic growth committee is focused on expanding its operations. Financially, revenue was $2.1 million for the quarter, with a gross loss of $0.6 million primarily due to an impairment charge of $48.7 million. The total comprehensive loss was $50.3 million for the quarter.

RIV Capital Inc. will report its financial results for the fiscal quarter and nine-month transition year ended December 31, 2023, on April 29, 2024. The Company changed its fiscal year end from March 31st to December 31st, resulting in a nine-month fiscal year. The audited financial statements will be available on SEDAR and the Company's website.

RIV Capital Inc. announces the opening of Etain's first adult-use and medical dispensary in White Plains, New York, marking a significant milestone in optimizing its retail portfolio. The new dispensary will offer a premium product menu, curated experience, and honor fellow female-founded New York cannabis brands.

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) has received state regulatory approval from the New York Cannabis Control Board to transition to adult-use operations. The approval allows the Company to expand into adult-use wholesale operations, open co-located medical and adult-use retail dispensaries, and provide a wide range of cannabis products to the adult-use market while maintaining its medical operations.

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) released its financial results for the three and six months ended September 30, 2023. The company is well positioned for growth with approximately $85 million in cash at period end. The Chestertown expansion is operational, yielding above-expected harvests and flower quality, and is anticipated to supply the adult-use wholesale market by year end. Adult-use retail operations are expected to commence in early 2024, pending regulatory approval.