Etain Health to merge with Cansortium

MJ Biz

Toronto-based RIV, which operates the Etain Health marijuana brand in New York, is merging with Cansortium, a Florida-based vertically integrated cannabis multistate operator.

Under terms of the deal, Cansortium – which operates under the Fluent brand – will acquire all the issued and outstanding Class A common shares of RIV Capital in exchange for Cansortium shares, according to a news release.

Shareholders of RIV will receive 1.245 of a common share of Cansortium for each RIV share.

Upon closing, Cansortium shareholders will hold roughly 51.25% of the combined business.

RIV shareholders and The Hawthorne Collective – a ScottsMiracle-Gro subsidiary that invested in RIV in 2021 – will hold approximately 48.75% of the combined company.

Shareholders still must approve the proposed merger.  Read the story 

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