RIV Capital and Cansortium have received New York Cannabis Control Board approval for their previously announced business combination.
Robert Beasley, Chief Executive Officer of Cansortium said: "We are thrilled to have received regulatory approval in New York to move forward with our business combination transaction, bringing us closer to completing this important step for both of our companies in the fourth quarter of 2024."
The business combination is expected to close in the fourth quarter of 2024, subject to, the satisfaction of the other closing conditions outlined in the Arrangement Agreement. Further details regarding the Business Combination, including the principal closing conditions and the anticipated benefits for RIV Shareholders, can be found in RIV Capital's management information circular dated July 12, 2024.
For more information:
RIV Capital
www.rivcapital.com