03:20 PM EDT, 10/10/2024 (MT Newswires) -- RIV Capital Inc. ( CNPOF ) (RIV.CN, an acquisition and investment firm with a focus on building a multistate platform, and Cansortium Inc. (CSE: TIUM.U), a vertically integrated, multi-state cannabis company, announced Thursday that they have received New York Cannabis Control Board approval for their previously announced business combination.

The business combination is expected to close in the fourth quarter of 2024. The combined business of Cansortium and RIV Capital ( CNPOF ) will operate under the Cansortium name and Cansortium common shares will continue to trade on the Canadian Securities Exchange.