Streetbeat News

RIV

RiverNorth Opportunities Fund, Inc.

http://www.rivernorth.com/riv

Industry

Asset Management

RiverNorth Opportunities Fund, Inc. was founded in 2015 and is headquartered in Chicago, Illinois.

Open

12.40

Mkt cap

265M

Volume

56K

High

12.45

P/E Ratio

6.12

52-wk high

12.96

Low

12.32

Div yield

0.13

52-wk low

10.90

Cansortium Inc. has completed the acquisition of all Class A common shares of RIV Capital Inc., leading to the delisting of RIV Capital from the CSE as of December 19, 2024.

Portfolio Pulse from

December 19, 2024 | 9:15 pm

FLUENT has completed its acquisition of RIV Capital, significantly expanding its operations in New York and enhancing its financial position. This acquisition is one of the largest U.S. cannabis transactions of 2024, adding $33 million in cash to FLUENT's balance sheet and eliminating $160 million of debt through an all-stock transaction.

Portfolio Pulse from

December 19, 2024 | 5:00 pm

RIV Capital reported a record quarterly revenue of $4.9 million for Q3 2024, with an improved adjusted EBITDA loss. The net loss was mainly due to a non-cash pre-tax impairment charge on intangible assets. The company ended the quarter with $50.7 million in cash, supporting growth in New York and Florida. A business combination with Cansortium is expected to close soon.

Portfolio Pulse from

November 29, 2024 | 1:15 pm

RIV Capital has partnered with cannabis wholesale platform Nabis to enhance distribution in New York. This partnership aims to expand RIV's reach and efficiency in the growing New York cannabis market. The merger with Cansortium is also expected to boost RIV's market presence.

Portfolio Pulse from Nina Zdinjak

October 17, 2024 | 1:37 pm

RIV Capital Inc. and Cansortium Inc. have received approval from the New York Cannabis Control Board for their merger, expected to close by the end of 2024. This merger positions the combined company to cover 25% of the U.S. population with significant cultivation and retail operations. The merger offers a unique opportunity for cannabis investors, with RIV Capital's partnership with The Hawthorne Collective, a subsidiary of ScottsMiracle-Gro, further strengthening its position.

Portfolio Pulse from Nicolás Jose Rodriguez

October 10, 2024 | 9:21 pm

Cheech & Chong are opening their first cannabis shop in Maine, while new cannabis stores are also opening in Connecticut, New York, and Toronto. RIV Capital Inc. and High Tide Inc. are expanding their cannabis retail operations.

Portfolio Pulse from Jelena Martinovic

October 10, 2024 | 6:20 pm

On October 7, 2024, several marijuana stocks experienced significant price movements. Notable gainers included Affinor Growers, Pharmadrug, and Charlotte's Web Holdings, while SOL Global Investments, 4Front Ventures, and Zoned Properties were among the losers. Genetic Technologies and Eastside Distilling, both listed on NASDAQ, also saw price changes.

Portfolio Pulse from Benzinga Insights

October 07, 2024 | 8:30 pm

On October 4, 2024, several cannabis stocks experienced significant price movements. Notable gainers included CLS Holdings USA, CordovaCann, and Eastside Distilling, while significant losers included Pharmadrug, Leafbuyer Techs, and Scotts Miracle Gro.

Portfolio Pulse from Benzinga Insights

October 04, 2024 | 8:30 pm

Cannabis companies are expanding their presence in various states as legalization efforts continue. Curaleaf has opened a new dispensary in Florida, C3 Industries expands in Illinois, RIV Capital launches adult-use sales in NYC, and Verano Holdings opens a new store in Arizona.

Portfolio Pulse from Jelena Martinovic

October 03, 2024 | 5:42 pm

RIV Capital and Cansortium shareholders have approved a merger, creating a combined cannabis company operating in Florida, New York, Texas, and Pennsylvania. The merger is expected to close in Q4 2024, with the combined entity operating under the Cansortium name. RIV Capital shares rose 2.61%, while Cansortium shares fell 10.67% following the announcement.

Portfolio Pulse from Nina Zdinjak

August 28, 2024 | 3:24 pm

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