Phar-Mor

RIV Capital Reports Second Quarter Fiscal Year 2022 Financial Results

Retrieved on: 
Thursday, November 18, 2021
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During the quarter, the Company also received a $6.5 million distribution upon the termination of PharmHouse's proceedings under the Companies' Creditors Arrangement Act (Canada).

Key Points: 
  • During the quarter, the Company also received a $6.5 million distribution upon the termination of PharmHouse's proceedings under the Companies' Creditors Arrangement Act (Canada).
  • The following represents a brief summary of other developments in the RIV Capital portfolio during and subsequent to Q2 2022:
    Subsequent to quarter end, RIV Capital entered into an asset purchase agreement with TREC Brands Inc. ("TREC Brands") for the sale of the Company's financial assets in Agripharm.
  • Although RIV Capital has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.
  • RIV Capital does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.

RIV Capital Receives ~$6.5 Million Upon Termination of PharmHouse's CCAA Proceedings

Retrieved on: 
Monday, September 13, 2021
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TORONTO, Sept. 13, 2021 /PRNewswire/ - RIV Capital Inc. ("RIV Capital" or the "Company") (CSE: RIV) (OTC: CNPOF) today announced that it has received a cash distribution of approximately $6.5 million and that termination of PharmHouse Inc.'s ("PharmHouse") proceedings under the Companies' Creditors Arrangement Act (Canada) (the "CCAA Proceedings") and PharmHouse's assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada) is expected imminently.

Key Points: 
  • TORONTO, Sept. 13, 2021 /PRNewswire/ - RIV Capital Inc. ("RIV Capital" or the "Company") (CSE: RIV) (OTC: CNPOF) today announced that it has received a cash distribution of approximately $6.5 million and that termination of PharmHouse Inc.'s ("PharmHouse") proceedings under the Companies' Creditors Arrangement Act (Canada) (the "CCAA Proceedings") and PharmHouse's assignment into bankruptcy under the Bankruptcy and Insolvency Act (Canada) is expected imminently.
  • Pursuant to orders granted by the Ontario Superior Court of Justice (Commercial List) in the CCAA Proceedings, RIV Capital was entitled to the cash remaining in PharmHouse.
  • RIV Capital is an operating and brand platform that aims to acquire, invest in, and develop U.S. cannabis companies to build the cannabis industry of tomorrow, today.
  • RIV Capital also has a strategic relationship with The Hawthorne Collective, a subsidiary of The Scotts Miracle-Gro Company, pursuant to which RIV Capital is the Hawthorne Collective's preferred vehicle for cannabis-related investments not under the purview of other ScottsMiracle-Go subsidiaries.

RIV Capital Reports First Quarter Fiscal Year 2022 Financial Results

Retrieved on: 
Monday, August 16, 2021
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RIV Capital ended the quarter with $212.5 million of cash on hand.

Key Points: 
  • RIV Capital ended the quarter with $212.5 million of cash on hand.
  • RIV Capital is an investment and acquisition company specializing in cannabis with a portfolio of 13 companies across various segments of the cannabis value chain.
  • Although RIV Capital has attempted to identify important risks, uncertainties and factors that could cause actual results to differ materially, there may be others that cause results not to be as anticipated, estimated or intended.
  • RIV Capital does not intend, and does not assume any obligation, to update this forward-looking information except as otherwise required by applicable law.