RIV CAP INC - CNPOF STOCK NEWS

RIV Capital Inc. (CSE: RIV, OTC: CNPOF) is scheduled to report its third-quarter financial results for the period ending December 31, 2022, on March 1, 2023, before market opening. Investors can access the unaudited condensed interim consolidated financial statements and management analysis on SEDAR and RIV Capital's website. The company focuses on building a multistate cannabis platform with a strong brand portfolio in the U.S. markets, highlighted by its acquisition of Etain and partnerships with established operators. The release will be followed by an audio recording of the conference call available on the company’s site.

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) has scheduled a Special Meeting of shareholders on June 6, 2023, at 10:00 a.m. EDT, in response to a requisition from JW Asset Management for the election of five new directors. The record date for voting eligibility is set for May 3, 2023. Shareholders are not required to take any action now, and a management proxy circular will be provided as per legal requirements. RIV Capital aims to strengthen its brand portfolio in key U.S. markets.

RIV Capital Inc. announced that its board received a requisition from shareholders, primarily funds managed by JW Asset Management, on December 20, 2022. The requisition aims to call a special meeting to elect five new directors, following the recent election of seven nominees just three months earlier. JWAM controls over 5% of RIV Capital's shares and has previously sought a court order for the repurchase of shares held by its funds. The company is currently reviewing this requisition and advises shareholders to take no action for now.

RIV Capital has finalized its acquisition of Etain, a vertically integrated cannabis operator in New York, for a total of US$42 million in cash and 5.27 million Class A common shares. This transaction secures RIV Capital a strategic foothold in the New York cannabis market with four dispensaries and a cultivation facility. The expansion of Etain's Chestertown facility is expected to be completed by Q2 2023, enhancing cultivation capacity and supporting new product formats in anticipation of adult-use sales. The transaction positions RIV Capital for future growth in a rapidly evolving market.

RIV Capital has received regulatory approvals to finalize the Etain Acquisition, expected by year-end 2022. The company holds $165 million cash to support this acquisition and expand Etain's facilities. However, RIV reported a significant net loss of $142.3 million for FQ2 2023, primarily due to a goodwill impairment charge of $138.9 million. Despite operational challenges in New York's cannabis market, RIV remains optimistic about future growth, focusing on social equity and developing its brand strategy. The company aims to enhance its cultivation capacity by 2023.

RIV Capital Inc. (CSE: RIV, OTC: CNPOF) has announced that it will report its financial results for the second quarter ended September 30, 2022, on November 29, 2022. The unaudited financial statements and management discussion will be available on SEDAR and the company's website. RIV Capital is focused on building a strong portfolio of cannabis brands across key U.S. markets, supported by strategic partnerships, including a relationship with The Hawthorne Collective. Investors are advised that forward-looking statements may involve risks that could impact future results.

RIV Capital Inc. congratulated Kathy Hochul on her reelection as New York's governor, expressing confidence in her commitment to establish a robust cannabis market. The company anticipates that the transition to an adult-use cannabis market will provide significant benefits, including job creation and tax revenue. RIV Capital aims to collaborate with the state to address challenges posed by unlicensed markets and support social equity within the cannabis sector. The firm looks forward to contributing to the growth of New York's cannabis industry.

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) announced the results of its Annual General Meeting held on September 29, 2022. Shareholders approved the election of all seven director nominees and the appointment of MNP LLP as auditors. RIV Capital aims to build a leading cannabis brand portfolio across key U.S. markets, supported by the acquisition of Etain and partnerships with established operators. The company is positioned as The Hawthorne Collective's preferred vehicle for cannabis investments outside its other subsidiaries.