RIV Capital Inc. CNPOF RIVreleased its insightful financial results for the three months ended June 30, 2022 Earnings less excise taxes of $1.3 million. The Company did not report revenue for periods ended on or before March 31, 2022.

Highlights of Q1 2023

• Retail sales of $1.3 million was generated from Etain, LLC‘s pharmacies in Manhattan, Kingston, Syracuse and Yonkers, and $200,000 in wholesale sales was generated from the sale of Etain-branded products to other New York registered organizations.

• Gross profit of $500,000 for the three months ended June 30, 2022.

• Net loss of $3.5 million and basic and diluted earnings per share of $(0.02) for the three months ended June 30, 2022, compared to a net loss of $24.5 million and basic and diluted earnings per share of (0 .17) US dollars for the same period last year.

• Total loss of $8.0 million for the three months ended June 30, 2022, compared to a total loss of $21.3 million for the same period last year.

• First Completion of Acquisition of Ownership and Control of Etain, LLC and Get IP LLC Completed April 2022.

• Ongoing integration of the Etain business to best position the Company to launch the adult cannabis market in New York

• About $170 million in cash to support the Etain acquisition and long-term expansion plans

“Following the initial closing of Etain’s unregulated assets in April 2022, we remain confident that we have selected the ideal platform for growth as the New York market nears the launch of adult sales,” he stated Markus Sims, President and CEO of RIV Capital. “While the final transfer of equity interests from Etain, the licensee, is currently under review by New York State regulators, the structure of the acquisition has given us ownership of Etain’s unregulated assets and accordingly we have carefully worked with the.” Etain team to make their…