RIV Capital (TSX: RIV) (OTC: CNPOF)
, an investment and acquisition company specializing in cannabis, has reported its financial results for the fourth quarter and fiscal year 2021. Highlights of the report include comprehensive income of $67.3 million for the fiscal year and a strong balance sheet following successful monetization of the company’s three portfolio assets. In addition, RIV Capital noted that the closing of its milestone transaction with Canopy Growth enables the company to execute a key pivot to the cannabis market in the United States. The results also noted that the company had fully settled its obligations in relationship to the PharmHouse Credit Facility. “Our quarter and fiscal year were highlighted by the closing of our milestone transaction with Canopy Growth, paving the way for RIV Capital to launch into the U.S. market,” said RIV Capital president and CEO Narbé Alexandrian in the press release. “This transaction returned several multiples on invested capital and provided us with the strategic flexibility needed to pivot our business model. With a revitalized balance sheet and our new strategy in place, we have been actively sourcing opportunities in the world’s largest and most exciting cannabis market, and continue to believe that this next chapter will create significant value for our shareholders in the quarters to come.”
To view the full press release, visit https://ibn.fm/bIx2h
About RIV Capital
RIV Capital is an investment and acquisition company specializing in cannabis with a portfolio of 12 companies across various segments of the cannabis value chain. The company believes that bringing together people, capital and ideas raises the potential of the entire cannabis industry. By leveraging its industry insights, in-house expertise and thesis-driven approach to investing, RIV Capital aims to provide shareholders with exposure to specialized and disruptive cannabis companies. For more information about the company, please visit www.RIVCapital.com
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The latest news and updates relating to CNPOF are available in the company’s newsroom at http://ibn.fm/CNPOF
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