RIV CAP INC - CNPOF STOCK NEWS

RIV Capital Inc. (OTC: CNPOF) reported a strategic investment of $150 million from The Hawthorne Collective, enhancing its liquidity to $400 million for U.S. expansion. The Q2 2022 results showed an operating loss of $1.7 million, a significant reduction from $5.8 million in Q2 2021. The net loss was $1.5 million compared to $110.4 million the previous year. The company is focused on potential acquisitions in strategic U.S. markets and is positioned to develop a consumer-focused platform with its substantial cash reserves.

RIV Capital Inc. (OTC: CNPOF) will release its Q2 2022 financial results on November 18, 2021, before market opening. The unaudited financial statements and management discussion will be accessible on SEDAR and the company's website. Following the report, a conference call will be held at 9:00 AM EST to discuss the results. RIV Capital aims to invest in U.S. cannabis companies, enhancing market share while expanding its multi-state platform. Notably, the company has a strategic relationship with The Hawthorne Collective, facilitating cannabis-related investments.

RIV Capital Inc. (OTC: CNPOF) held its annual general and special meeting on Sept. 30, 2021, where shareholders voted in favor of three key items: the election of director nominees, the approval of the company's financial statements, and the reappointment of KPMG LLP as auditors. However, the proposal for an advance notice bylaw was not approved due to insufficient votes. This meeting highlights shareholder support for company leadership and financial oversight.

On September 13, 2021, RIV Capital (CSE: RIV, OTC: CNPOF) announced a cash distribution of approximately $6.5 million following the termination of PharmHouse Inc.'s CCAA Proceedings and its imminent bankruptcy. The Ontario Superior Court of Justice granted orders entitling RIV Capital to the remaining cash in PharmHouse, concluding its relationship with PharmHouse. The cash distribution marks a significant financial recovery for RIV Capital amidst PharmHouse's bankruptcy.

RIV Capital Inc. (CSE: RIV, OTC: CNPOF) will hold its annual general and special meeting of shareholders on September 30, 2021, at 10 a.m. EDT. Due to COVID-19, in-person attendance is discouraged, and shareholders are urged to vote by proxy. The meeting is limited to registered shareholders and proxyholders, and remote access will be available via phone or audio-only webcast. An audio replay will be available until October 30, 2021. Shareholders can find meeting materials on the company's investor website.

RIV Capital has completed a US$150 million investment from The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro, enhancing its capital base to support U.S. cannabis expansion. The funding, received through an unsecured convertible note, positions RIV Capital as a preferred vehicle for Hawthorne’s investments. Following the investment, RIV Capital's Board increased to seven members, including three from Hawthorne. With CA$400 million in available capital, the company aims to pursue acquisitions in strategic U.S. markets amidst ongoing federal legalization uncertainties.

RIV Capital reported a cash balance of $212.5 million as of June 30, 2021, following significant monetization events. The company settled the PharmHouse Credit Facility and anticipates receiving approximately $6.5 million post-CCAA proceedings. A strategic investment of $150 million from The Hawthorne Collective enhances RIV's balance sheet. However, RIV recorded a net loss of $30.4 million for Q1 2022, compared to a loss of $3.4 million in the prior year, marking a total comprehensive loss of $30.9 million.

RIV Capital (OTC: CNPOF) has announced a strategic investment of US$150 million from The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro. This investment is set to strengthen RIV Capital's balance sheet as it aims to expand its multistate cannabis operations in the U.S. The deal involves RIV Capital delisting from the TSX and listing on the CSE, with the addition of three ScottsMiracle-Gro nominees to its Board. The convertible note from The Hawthorne Collective will enhance RIV Capital's capacity for acquisitions and investments in the cannabis sector.

RIV Capital Inc. (OTC: CNPOF) is set to release its financial results for Q1 2022 on August 16, 2021. The unaudited financial statements and management analysis will be accessible on SEDAR and the company's website. Following the release, a conference call will be held at 9:00 AM Eastern Time, featuring key executives including CEO Narbé Alexandrian and CFO Eddie Lucarelli. RIV Capital focuses on investments in the cannabis sector, managing a portfolio of 13 companies.