RIV CAP INC - CNPOF STOCK NEWS

RIV Capital Inc. (OTC: CNPOF) reported a Q1 2023 revenue of $1.3 million, attributed to its acquisition of Etain, LLC. The company holds approximately $170 million in cash to support expansion plans and has completed the initial closing of the Etain acquisition. RIV Capital aims to optimize Etain's operations for the upcoming adult-use cannabis market in New York. Despite challenges in the medical market, RIV's management remains optimistic about long-term growth in New York's cannabis sector. The net loss for Q1 2023 was $3.5 million, an improvement compared to $24.5 million for the same period last year.

On August 23, 2022, RIV Capital (CSE: RIV, OTC: CNPOF) announced a lease agreement with Zephyr to develop a new flagship cannabis cultivation and manufacturing facility in Buffalo, New York. The project involves two buildings spanning approximately 75,000 square feet, with expected total costs of $30 million. RIV Capital will cover $4.5 million of these costs. The Flagship Facility is slated to enhance product offerings for Etain, its subsidiary, pending regulatory approvals. The lease also includes provisions for social equity initiatives in line with New York's cannabis laws.

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) will release its financial results for the first quarter ending June 30, 2022, after market close on August 29, 2022. The unaudited financial statements and management analysis will be available on SEDAR and the company's website. RIV Capital is focused on building a robust portfolio of cannabis brands in strategic U.S. markets, leveraging in-house expertise and strategic partnerships, including the recent Etain Acquisition.

RIV Capital reported its Q4 2022 and FY 2022 results, highlighting a strong liquidity position and the transformative acquisition of New York-based Etain, which includes one of only ten vertically integrated licenses in the state. The company intends to expand its operations in New York by investing in new dispensaries and a flagship cultivation facility. However, RIV Capital faced significant financial challenges, reporting a net loss of CA$52.7 million for FY 2022, despite a cash position of CA$398 million. The appointment of Mike Totzke as COO is expected to bolster operations.

RIV Capital Inc. (CSE: RIV, OTC: CNPOF) will announce its financial results for the fourth quarter and fiscal year ending March 31, 2022, on June 13, 2022. Audited consolidated financial statements and management discussions will be accessible on SEDAR and the company's website. RIV Capital is focused on building a robust cannabis portfolio in key U.S. markets, highlighted by its acquisition of Etain LLC, a licensed cannabis operator in New York. The company aims to expand through strategic partnerships, including a collaboration with The Hawthorne Collective.

RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) announced receipt of a court application from JW Asset Management (JWAM) regarding the Company's Etain Acquisition. JWAM, holding ~20.4% of RIV's Class A common shares, claims the management of RIV Capital has acted in an oppressive manner towards them. They seek a court order for RIV to buy JWAM's shares at fair value as of March 29, 2022. RIV Capital intends to vigorously contest the application, asserting the Etain Acquisition complied with all laws.

RIV Capital has completed the Initial Closing of its acquisition of Etain, LLC and Etain IP LLC for approximately US$198 million in cash and common shares. The deal includes a potential additional payment of US$49 million pending regulatory approvals from the New York Cannabis Control Board. Concurrently, The Hawthorne Collective invested US$25 million in RIV Capital via a convertible note. BrandCo HoldCo acquired 21,092,335 common shares at C$1.65 each, representing 12.9% of RIV's outstanding shares. The completion of the final closing is subject to further conditions.

RIV Capital has announced a definitive agreement to acquire Etain LLC for approximately US$247 million, enhancing its presence in New York's cannabis market. The acquisition includes one of only ten vertically integrated licenses in the state and four active dispensaries, with plans to expand operations for the adult-use market. Mark Sims has been appointed as President and CEO to drive this transition. The Hawthorne Collective is set to advance an additional US$25 million to RIV Capital as part of this deal, strengthening their financial position.

RIV Capital Inc. (CSE: RIV, OTC: CNPOF) announced its Q3 2022 results, showcasing a strong cash position of approximately US$319 million to support its U.S. expansion strategy. The company experienced a net loss of CA$3.5 million, while operating income decreased significantly to CA$0.1 million. Operating expenses increased to CA$2.5 million, primarily driven by administrative costs. RIV Capital is focused on consolidating its position in the U.S. cannabis market, with plans to announce further developments by the fiscal year-end.