In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the reset distribution rates have been proposed for the calendar year 2025, as detailed below. Further, the Funds have established the distribution dates for January, February, and March 2025. The payment of the distributions are subject to Board approval.
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% increase year-over-year 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.
Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) announced on Tuesday that it has secured a new senior secured credit agreement of up to $96.5 million with Chicago Atlantic Admin, LLC, as an administrative agent for certain lenders.The Tampa, Florida-based vertically integrated cannabis company operating under the FLUENT brand, said the credit agreement includes a 12% cash interest rate and 1% paid-in-kind interest annually. It matures on November 26, 2028, with no material debt maturities until then. "We are excited to announce the successful completion of our senior secured refinancing," Robert Beasley, CEO of Cansortium, said. "The loan's favorable interest rate and single financial covenant underscore our strong financial standing, while its non-dilutive structure - free of equity or warrants – preserves shareholder value."
Cheech & Chong, an iconic comedy du0 that ventured into cannabis is getting ready to celebrate the grand opening of their first Maine Dispensoria.Cannabis retail brand Higher Collective will open its newest location at 3369 Fairfield Ave in Bridgeport, Connecticut this Friday, Oct. 11.
Cannabis retailers are ramping up their presence in Florida, a medical cannabis market that could soon transition to recreational. That is if Amendment 3 gets the green light from the voters this November. The same companies have been pouring millions into the push for adult-use cannabis legalization. According to a recent report from Beacon Securities Florida's cannabis market is showing signs of strain, but cannabis operators in the state are on pace to change the trend. 9th nationwide. The new shop is located at 1801 E. 5th St. in Metropolis. It serves recreational cannabis customers. RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) announced last week that Etain has launched adult-use sales at its dispensary in Manhattan. Located at 242 E 58th Street in New York City, the new store will host a grand opening event on Wednesday, Oct. 16.Verano Holdings Corp. (Cboe CA: VRNO) (OTCQX: VRNOF) announced last week the grand opening of Zen Leaf Arcadia in Phoenix. The new shop is located at 2710 E Indian School Road in Phoenix.
In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for October, November and December 2024, as detailed below.
RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) reported on Wednesday financial results for the second quarter, a three-month period ended June 30, 2024. Mike Totzke, the company's COO and interim CEO, praised "ongoing success of our adult-use operations rollout" in New York during the quarter.
High Tide Canadian cannabis retail giant High Tide Inc. (NASDAQHITI) (TSXV: HITI) (FSE: 2LYA) will release its financial and operational results for the third quarter ended July 31, 2024, after the market close on Monday, Sept. 16, 2024. Cannabis fintech company POSaBIT Systems Corporation (CSE: PBIT) (OTC: POSAF) will host a conference call and live webcast on Tuesday, Aug. 27, 2024, at 4:30 pm Eastern Time to discuss the results of the second quarter ended June 30, 2024. RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) will report its financial results for the second quarter and six months ended June 30, 2024, before markets open on Wednesday, Aug. 28, 2024.
Shareholders of four cannabis companies held their respective annual meetings, electing nominees as board directors.Sandy Li, who has been serving at cannabis edibles producer Wana Brands since 2022 as CFO joined Viridian Capital Advisors's advisory board. David Vautrinas was appointed to serve as chief retail officer of RIV Capital.
In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for July, August and September 2024, as detailed below.
Cannabis-focused acquisition and investment firm RIV Capital Inc. (CSE: RIV) (OTC: CNPOF) released on Thursday its financial results for the first quarter ended March 31, 2024.Mike Totzke, the company's COO and interim CEO, called the first quarter "pivotal" referring to the official launch of the company's recreational cannabis operations in New York. The company opened its first adult-use dispensary in White Plains.
RiverNorth Opportunities Fund, Inc. (NYSERIV) (the “Fund”) is pleased to announce that on May 14-15, 2024, the Board of Directors of the Fund (the “Board”) approved a change to the fiscal year end (“FYE”) of the Fund, as set forth in the table below.
RiverNorth Opportunities Fund, Inc., RiverNorth/DoubleLine Strategic Opportunity Fund, Inc. and RiverNorth Capital and Income Fund, Inc. are each pleased to announce the declaration of preferred dividends for the second quarter of 2024, as detailed below.
In accordance with the RiverNorth closed-end funds (the “Funds”) level distribution policies, the Funds have declared distributions for April, May and June 2024, as detailed below.
The cannabis revolution continues to grow with new dispensary openings across seven states. In Texas, Right on Brands and Texas Original launched new retail locations, while New York welcomed RIV Capital and Etain's new co-located dispensary. NYC Bud in Long Island City offers a unique subway-themed shopping experience. Additionally, CODES opened a new pop-up in Missouri, Curaleaf relocated its Phoenix Airport dispensary in Arizona, Sweetspot Farms launched a new store in Connecticut, Trulieve Cannabis Corp. expanded in Florida, and Verano Holdings Corp. added Zen Leaf Norristown to its Pennsylvania locations. These latest openings underscore the increasing acceptance and accessibility of cannabis products for both medical patients and recreational consumers nationwide.
