TORONTO – RIV Capital Inc. (“RIV Capital” or the “Company”) (CSE: RIV) (OTC: CNPOF), an acquisition and investment firm focused on building a leading multistate platform with the strongest portfolio of cannabis brands in key strategic markets across the United States, today announced that the New York State Cannabis Control Board (“CCB”) and the New York State Office of Cannabis Management (“OCM”) have approved Etain, LLC’s (“Etain”) – owners and operators of a legally-licensed Registered Organization with cannabis cultivation and manufacturing facilities and retail dispensaries in the state of New York – change of control request. This approval clears the path for the Company to complete its previously announced acquisition (the “Transaction”) of ownership and control of Etain and Etain IP LLC, as all necessary regulatory approvals have been obtained.
The final closing of the Transaction remains subject to customary closing conditions and is expected to occur by the end of the fourth quarter of calendar year 2022.
About RIV Capital
RIV Capital is building a leading cannabis packaged goods company, with a focus on establishing one of the strongest portfolios of 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 the 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.
