- White Plains opening will mark Etain's first adult-use retail dispensary
- The move relocates Etain's prior medical-only retail dispensary from Yonkers to White Plains; which marks an important step to optimize Etain's retail portfolio
- The new dispensary will honor Etain's legacy with a premium product menu and a curated experience that elevates fellow female-founded New York cannabis brands
WHITE PLAINS, N.Y., Feb. 14, 2024 /PRNewswire/ - RIV Capital Inc. ("RIV Capital" or the "Company") (CSE: RIV) (OTC: CNPOF), an acquisition and investment firm with a focus on building a leading multistate platform with one of the strongest portfolios of cannabis brands in key strategic U.S. markets, today announced that Etain will open its first co-located adult-use and medical dispensary in White Plains, New York.
White Plains is one of the fastest-growing residential areas in the state and is well-positioned to service the greater metropolitan area. This location marks a significant milestone in optimizing Etain's retail portfolio to meet demand as the legal market expands in the State of New York.
"Westchester has been Etain's home for many years, and the significance of unveiling the first co-located dispensary in this community holds a profound meaning," said Hillary Peckham, Co-founder of Etain and VP of Marketing. "Since our founding in 2015, we have been ingrained in the cannabis community, consistently uplifting and empowering fellow women-led brands in the industry. We are ecstatic to introduce the Etain brand, featuring our exceptional cannabis products and fellow standout brands, to the White Plains community."
"Etain's commitment to New York and the creation of an inclusive, safe, and thriving market has never wavered. White Plains was selected as the first Adult Use and Medical dispensary for the Etain brand and we are excited to unveil a new, remodeled store layout to elevate the cannabis retail experience and embrace the unique needs of Etain's adult-use customers and medical patients alike," said Mike Totzke, COO and interim CEO of RIV Capital.
The White Plains dispensary's open floor plan will welcome visitors blending integrative wellness offerings, personal consultations, and premium products to create an inviting space for medical patients and adult-use consumers. The gallery-inspired space will feature a curated menu of Etain's branded adult-use and medical cannabis products, as well as a selection of cannabis brands showcasing women-founded and locally rooted New York brands.
Honoring Etain's female-founded roots, the centerpiece of the space is a bespoke mural by renowned street artist Claw Money. Inspired by her Etain Limited Edition Motif Vape Battery design and custom Balance Blend Pod, debuting exclusively at the dispensary's opening, the vibrant mural features Claw Money's distinctive claw insignia amidst sharp graphic lines, complemented by locally sourced plants and flowers.
Adjacent to the mural stands another notable feature - an innovative display featuring House of Puff. Customers are immersed in the captivating world of House of Puff, where they can explore their artist-inspired luxe accessories and a new Spritz cannabis product. This space will serve as a focal point to update with additional brands and showcase products and artists from New York.
For medical cannabis patients, a Very Important Patient (VIP) experience awaits, complete with priority access, a dedicated check-out line, and exclusive access to Etain's on-site pharmacist - ensuring continued access to premium medical cannabis products and maintaining the essence of a concierge medical experience. Etain's commitment to providing a unique and enriching environment sets the stage for a new era in cannabis retail.
About RIV Capital
RIV Capital is an acquisition and investment firm with a focus on building a leading multistate platform with one of the strongest portfolios of cannabis brands in key strategic U.S. markets. Backed by in-house expertise and cannabis domain knowledge, RIV Capital aims to grow its own brands and partner with established U.S. cannabis operators and brands to bring them to new markets and build market share. RIV Capital established the foundational building blocks of its active U.S. strategy with its previously announced acquisition of Etain. Through its strategic relationship with The Hawthorne Collective, Inc. ("The Hawthorne Collective"), a subsidiary of The ScottsMiracle-Gro Company ("ScottsMiracle-Gro"), RIV Capital is The Hawthorne Collective's preferred vehicle for cannabis-related investments not under the purview of other ScottsMiracle-Gro subsidiaries.
About Etain
Etain, New York's only women-founded, vertically integrated medical cannabis company, has been dedicated to serving New York's medical cannabis patients since 2015. We continue our commitment to excellence by entering into the adult-use market. Etain was named after a major figure in Irish mythology who was the original strong, female protagonist - whose story is one of perseverance and transformation. Our premium products are grown in our pristine Adirondack Facility and we are committed to cultivating, manufacturing and dispensing the highest quality cannabis. With a brand mantra to 'Take a Moment' we encourage our patients, customers, and community to prioritize their health and wellness by pausing to enjoy life's simple pleasures and embrace the beauty of each moment. Etain is part of the RIV Capital brand portfolio. For more, visit Etain.com.
Forward Looking Statements
This news release contains statements which constitute "forward-looking information" within the meaning of applicable securities laws, including statements regarding the plans, intentions, beliefs and current expectations of RIV Capital, its portfolio companies, and Etain with respect to future business activities and operating performance. Forward-looking information is often identified by the words "may", "would", "could", "should", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" or similar expressions and includes information regarding RIV Capital's strategies, objectives, goals, opportunities and plans, including in respect of Etain and its product portfolio; RIV Capital's ability to appropriately scale Etain's existing infrastructure, processes and systems and the development of a robust adult-use retail and wholesale program; the ability of RIV Capital and Etain to open its first co-located medical and adult-use retail dispensary in White Plains, New York; RIV Capital's expectations regarding the U.S. cannabis market; expectations regarding adult-use cannabis market opportunities in New York and the benefits of the New York adult-use cannabis market; expectations regarding adult-use sales in the state of New York; plans to update Etain's existing retail locations and the potential to build new locations; expectations regarding White Plains and the White Plains dispensary, RIV Capital's expectations regarding Etain's position in the New York cannabis market; RIV Capital's expectations and plans regarding Etain's business, including its market share, sales, brand, products and locations; [Etain's plans and future prospects in the cannabis retail space;] RIV Capital's expectations regarding growth opportunities; and expectations for other economic, business, and/or competitive factors.
Investors are cautioned that forward-looking information is not based on historical fact but instead reflects management's expectations, estimates or projections concerning future results or events based on the opinions, assumptions and estimates of management considered reasonable at the date the statements are made. Although RIV Capital believes that the expectations reflected in such forward-looking information are reasonable, such information involves risks and uncertainties, and undue reliance should not be placed on such information, as unknown or unpredictable factors could have material adverse effects on future results, performance or achievements of RIV Capital, its portfolio companies, and/or Etain.
Among the key factors that could cause actual results to differ materially from those projected in the forward-looking information are the following: RIV Capital's ability to execute its go-forward strategy; stock market volatility; changes in the business activities, focus and plans of RIV Capital, Etain and RIV Capital's investees and the timing associated therewith; the timing of any changes to federal laws in the U.S. to allow for the general cultivation, distribution, and possession of cannabis; regulatory and licensing risks; changes in cannabis industry growth and trends; changes in general economic, business and political conditions, including changes in the financial markets; the global regulatory landscape and enforcement related to cannabis, including political risks and risks relating to regulatory change; risks relating to anti-money laundering laws; compliance with extensive government regulation, including RIV Capital's interpretation of such regulation; public opinion and perception of the cannabis industry; divestiture risks; and the risk factors set out in RIV Capital's management's discussion and analysis dated November 28, 2023 and annual information form dated March 31, 2023 filed with the Canadian securities regulators and available on RIV Capital's profile on SEDAR+ at www.sedarplus.com.
The Company has invested in and acquired, and intends to in the future invest in and/or acquire, companies that are involved in the manufacture, possession, use, sale, and distribution of cannabis in the recreational and medicinal cannabis marketplace in the United States. Local state laws where such operations occur permit such activities, however, investors should note that there are significant legal restrictions and regulations that govern the cannabis industry in the United States. Cannabis remains a Schedule I drug under the U.S. Controlled Substances Act, making it illegal under federal law in the United States to, among other things, cultivate, distribute or possess cannabis in the United States. Financial transactions involving proceeds generated by, or intended to promote, cannabis-related business activities in the United States may form the basis for prosecution under applicable U.S. federal money laundering legislation.
While the approach to enforcement of such laws by the federal government in the United States has trended toward non-enforcement against individuals and businesses that comply with recreational and medicinal cannabis programs in states where such programs are legal, strict compliance with state laws with respect to cannabis will neither absolve the Company of liability under U.S. federal law, nor will it provide a defense to any federal proceeding which may be brought against the Company. The enforcement of federal laws in the United States is a significant risk to the business of the Company and any proceedings brought against the Company thereunder may adversely affect the Company's operations and financial performance.
Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking information prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although RIV Capital has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended. RIV Capital does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.
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SOURCE RIV Capital Inc.
