Going south with M&A--->
TORONTO, March 1, 2022 RIV Capital Inc. ("RIV Capital'' or the "Company") (CSE: RIV) (OTC: CNPOF) today released its unaudited condensed interim consolidated financial statements and management's discussion and analysis ("MD&A") for the three and nine months ended December 31, 2021 ("Q3 2022"). --->"We have narrowed our pipeline of potential U.S. cannabis acquisition targets
and are more excited than ever by the immense opportunity ahead of us in the U.S.," said Narb Alexandrian, President and CEO of RIV Capital.
"We are working toward announcing
--->the next step of our U.S. acquisition and investment strategy
prior to the end of this fiscal year and
--->believe the plan we have in place will contribute to the long-term value for our shareholders."
In early 2021, RIV Capital embarked upon a strategic shift to the U.S. cannabis market.
As the Company explored various avenues, it determined that in order to create a market leader, the platform needed to be differentiated in a real, tangible manner.
To that end, in August 2021, the Company announced a strategic partnership with The Scotts Miracle-Gro Company, a global leader of branded consumer products for lawn and garden care, via their newly-formed cannabis subsidiary,
The Hawthorne Collective. This strategic partnership significantly bolstered RIV Capital's approach to its U.S. transition, both strategically and financially.
After continuing to develop its market intelligence and evaluating several opportunities, the Company has advanced discussions relating to key strategic U.S. markets and
--->anticipates announcing further developments on its U.S. acquisition and investment strategy prior to the end of its fiscal year.
No definitive agreement has been reached with respect to any potential investment or other transaction to date and there can be no assurance that any of the Company's discussions will necessarily lead to an investment or other transaction.