Cansortium Completes RIV Capital Acquisition, Adding New York Retail, Wholesale, Cannabis Cultivation Operations
Cansortium Inc. (CSE:TIUM) (OTCQB:CNTMF) also known as “FLUENT” and RIV Capital Inc. (CSE:RIV) (OTC:CNPOF) announced on Thursday the completion of a previously announced arrangement with RIV Capital whereby FLUENT acquired all of the issued and outstanding Class A common shares of RIV Capital in exchange for FLUENT shares.
Under the terms of the agreement, RIV Capital shareholders received 1.245 of a common share of FLUENT in exchange for each RIV Capital share held. As a result, shareholders of FLUENT hold approximately 51.25% of the combined business of FLUENT and RIV Capital shareholders and The Hawthorne Collective together, hold approximately 48.75% of the combined company, each on a fully diluted basis.
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