Live Capital Co., Ltd. Liv CNPOFan acquisition and investment company announced that monday New York State Cannabis Control Board (“CCB”) and New York State Cannabis Authority (“OCM”) Approved Ethane, LLC(“Etain”) control request change.
Live Capital Co., Ltd.We are focused on building a leading multistate platform with a strong portfolio of cannabis brands in key strategic markets in the United States. Additionally, Etain, LLC is a legally licensed registered organization with cannabis growing and manufacturing facilities and retail outlets in New York State.
According to a press release, this approval allows the company to previously announce, Etain and Etain IP LLChas obtained all necessary regulatory approvals.
Final closing of the transaction is expected by the end of the fourth quarter of calendar year 2022, subject to customary closing conditions.
“All regulatory approvals required to complete RIV’s Etain transaction have been obtained and the final transaction is expected to close by the end of Q4 2022,” reads the press release.
Background:
In May, RIV Capital Inc. Ontario Superior Court Application by JW Asset Management (JWAM) in connection with its process for acquiring ownership and control of Etain, LLC and Etain IP LLC.
JWAM, an investment firm focused on the pharmaceutical and cannabis industries, owns approximately 20.4% of the Company’s outstanding and outstanding Class A common stock. Its President and Chief Investment Officer, Jason Wildehas about 35.8% beneficial ownership, both personally and through JWAM Terra Ascend(OTCQX: TRSSF)
Continuing Acquisitions and Integrations:
In April 2022, RIV Capital will initial closing of previously disclosed transactions involving Etain, owners, and operators of legally licensed registered organizations that grow and retail marijuana; new york state.
Growth and expansion strategy: RIV Capital remains focused on operationalizing its New York platform before embarking on significant expansion elsewhere, but continues to actively explore M&A opportunities as part of its overall corporate strategy. increase.
in tough market conditionsRIV Capital’s strong liquidity positions the company well to build its US platform as the broader market evolves. We intend to maximize our cash position and aim to provide updates on our progress as we begin to expand our operations in the United States.
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