RIV Capital, Cansortium announce NY Cannabis Control Board approval of merger

RIV Capital (CNPOF), an acquisition and investment firm with a focus on building a leading multistate platform, and Cansortium (CNTMF), a vertically integrated, multi-state cannabis company operating under the FLUENT brand, announced that they have received New York Cannabis Control Board approval for their previously announced business combination. The business combination is expected to close in the fourth quarter of 2024, subject to, the satisfaction of the other closing conditions set forth in the arrangement agreement. “With this integration process already well underway, we are strongly positioned to become more competitive and better equipped with the resources needed to develop even better cannabis products to serve New York consumers rapidly expanding demand. Since launching adult-use sales in New York earlier this year we’ve seen tremendous momentum at all three of our co-located locations and the rapid expansion of our statewide wholesale business. Beyond adult use, we will lean on the medical program expertise of Fluent to further support our current medical locations and look to potential expand the reach to more New Yorkers,” said Dave Vautrin, Chief Retail Officer and Interim Chief Executive Officer of RIV Capital.