Riv Capital And Cansortium Shareholders Approve Merger: Combined Weed Company Will Operate In Four Major US States
RIV Capital Inc. (CSE:RIV) (OTC:CNPOF) confirmed that holders of its Class A shares have voted in favor of thepreviously announced merger with Cansortium Inc. (CSE:TIUM) (OTCQB:CNTMF) at the annual general and special meeting held Tuesday.
Shareholders of Cansortium, a Tampa, Florida-based cannabis company operating under the FLUENT brand, also voted in favor of an amendment to its articles to create a new class of non-voting exchangeable shares in connection with the merger.
The new combined company will operate in Florida, New York, Texas and Pennsylvania – four of the US’s five largest states – with eight cultivation and processing facilities and 42 retail dispensaries.
“Since we announced our business combination earlier this year, our teams have come together and made great progress and we are excited to continue to work diligently to complete the remaining steps needed to integrate our businesses ahead of closing the transaction,” stated Cansortium CEO Robert Beasley. “With shareholder support now secured, our …