Etain Receives Regulatory Approval For Cannabis Facility In Buffalo, New York
Portfolio Pulse from Vuk Zdinjak
RIV Capital Inc. (OTCPK:CNPOF) (CSE:RIV) and Etain, LLC have received approval from the New York State Office of Cannabis Management for an additional cultivation and manufacturing facility and a second facility for office space in Buffalo, New York. The new facility, expected to be operational by Q3 2024, will nearly double Etain's New York canopy footprint. RIV Capital's development partner has committed approximately $25.5 million to the development of the facility, and the company has committed $4.5 million.
August 04, 2023 | 11:21 am
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RIV Capital's new facility in Buffalo, NY, approved by the state's Office of Cannabis Management, will expand its manufacturing and cultivation capabilities.
The approval of the new facility is a positive development for RIV Capital as it expands its manufacturing and cultivation capabilities. However, the facility is not expected to be operational until Q3 2024, and the company's shares were trading lower at the time of the announcement, indicating that the market may have already priced in this news.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100