All required regulatory approvals to complete RIV’s Etain transaction have been obtained, with final closing expected by the end of Q4 2022
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.