Cannabis-Focused RIV Capital Reports 186% YoY Surge In Q3 Revenue Ahead Of Major Merger That Will Cover 25% Of US Population
RIV Capital Inc. (CSE:RIV) (OTC:CNPOF) reported on Friday its third quarter results for the three months ended Sept. 30, revealing a 28% sequential, and 186% year-over-year, increase in net revenue to $4.9 million.
Out of that sum, retail revenue accounted for $3.4 million, up from $1.5 million in the third quarter, reflecting strong growth from adult-use dispensaries in New York. Wholesale revenue surged to $1.6 million, up from $0.3 million over the same period, the company said in a press release.
RIV Capital, a company focused on building a multi-state platform with a portfolio of cannabis brands and the operator of the Etain brand in New York, is planning to merge with Cansortium Inc. (CSE:TIUM) (OTCQB:CNTMF), which operates under the FLUENT brand. The merger, expected to close …