Cansortium Completes Merger with RIV Capital

LOS ANGELES- Cansortium Inc., operating under the Fluent brand, has finalized its merger with RIV Capital Inc., establishing a multi-state cannabis operator with a presence in Florida, New York, Texas, and Pennsylvania.

The merger results in a combined entity operating 42 dispensaries and eight cultivation and processing facilities across these four states. Cansortium shareholders hold approximately 51.25% of the new company, while RIV Capital shareholders and The Hawthorne Collective, a subsidiary of Scotts Miracle-Gro, collectively own about 48.75%.

Robert Beasley, CEO of Cansortium, continues as CEO of the merged company. He emphasized that the merger positions the company to leverage growth opportunities in New York’s expanding cannabis market, with legal retail sales projected to exceed $1 billion by year-end. The company plans to scale its wholesale operations in New York to enhance its product presence in dispensaries statewide.

The merger also strengthens the company’s financial position, adding approximately $33 million in cash reserves. This capital infusion, along with recent refinancing efforts, enables the company to explore further acquisitions and growth initiatives.

The combined company will continue to operate under the Fluent name, with shares trading on the Canadian Securities Exchange under the symbol “TIUM.U” and on the OTCQB Venture Market under “CNTMF.” RIV Capital’s shares are expected to be delisted from the CSE following the merger.

This strategic merger aims to capitalize on the growth potential in key U.S. cannabis markets, particularly in New York, where the company seeks to expand its retail and wholesale operations.