TORONTO, June 2, 2021 /CNW/ - RIV Capital Inc. ("RIV
Capital" or the "Company") (TSX: RIV) (OTC: CNPOF) today
announced that it has closed an agreement with The Tweed Tree
Lot Inc. ("TTL"), a subsidiary of Canopy Growth
Corporation ("Canopy Growth"), to sell a
property located in Fredericton, New Brunswick in exchange
for a cash payment of $4
million.
"The sale of the New Brunswick
property is another step forward as we recapitalize
our balance sheet and narrow our focus on the U.S. market,"
said Narbe Alexandrian, President and CEO, RIV Capital. "The sale of the facility confirmed
our original investment thesis, producing a positive
return that provides us
with further capital to pursue
our U.S. strategy."
RIV Capital has leased the property to TTL since October 2017. With the sale of the property
to TTL and termination of the October
2017 lease, RIV Capital no longer
has any agreements with TTL.
About RIV Capital
RIV Capital is an investment and acquisition company
specializing in cannabis with a portfolio of 13 companies across
various segments of the cannabis value chain. We believe that
bringing together people, capital, and ideas raises the potential
of the entire cannabis industry. By leveraging our industry
insights, in-house expertise, and thesis-driven approach to
investing, we aim to provide shareholders with exposure to
specialized and disruptive cannabis companies.
Forward-Looking Statements
This news release contains statements which constitute
"forward-looking information" within the meaning of applicable
securities laws, including statements regarding the plans,
intentions, beliefs and current expectations of the Company with
respect to future business activities and operating performance.
Forward-looking information is often identified by the words "may",
"would", "could", "should", "will", "intend", "plan", "anticipate",
"believe", "estimate", "expect" or similar expressions and includes
information regarding the Company's expectation that the
consideration received will be used in the U.S. market.
Investors are cautioned that forward-looking information is
not based on historical fact but instead reflects management's
expectations, estimates or projections concerning future results or
events based on the opinions, assumptions and estimates of
management considered reasonable at the date the statements are
made. Although the Company believes that the expectations reflected
in such forward-looking information are reasonable, such
information involves risks and uncertainties, and undue reliance
should not be placed on such information, as unknown or
unpredictable factors could have material adverse effects on future
results, performance or achievements of the Company. Our actual
financial position and results of operations may differ materially
from management's current expectations.
Among the key factors that could cause actual results to
differ materially from those projected in the forward-looking
information are the following: the possibility that the Company
will change its plan with respect to how it will use the
consideration; litigation risks; stock market volatility;
regulatory and licensing risks; cannabis pricing risks; changes in
cannabis industry growth and trends; changes in the business
activities, focus and plans of the Company and its investees and
the timing associated therewith; the Company's actual financial
results and ability to manage its cash resources; changes in
general economic, business and political conditions, including
challenging global financial conditions and the impact of the novel
coronavirus pandemic; competition risks; potential conflicts of
interest; the regulatory landscape and enforcement related to
cannabis, including political risks and risks relating to
regulatory change; changes in the Company's relationship with its
investees; changes in applicable laws; compliance with extensive
government regulation, including the Company's interpretation of
such regulation; changes in the global sentiment towards, and
public opinion of, the cannabis industry; reliance on material
contracts; risk of default by investees; divestiture risks; and the
risk factors set out in the Company's annual information form for
the year ended March 31, 2020 and the
Company's management information circular, filed with the Canadian
securities regulators and available on the Company's profile on
SEDAR at www.sedar.com.
Should one or more of these risks or uncertainties
materialize, or should assumptions underlying the forward-looking
information prove incorrect, actual results may vary materially
from those described herein as intended, planned, anticipated,
believed, estimated or expected. Although the Company has attempted
to identify important risks, uncertainties and factors that could
cause actual results to differ materially, there may be others that
cause results not to be as anticipated, estimated or intended. The
Company does not intend, and does not assume any obligation, to
update this forward-looking information except as otherwise
required by applicable law.
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SOURCE RIV Capital Inc.