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RIV Capital Inc. applauds the potential rescheduling of cannabis by the DEA from Schedule I to Schedule III under the CSA, leading to tax relief, federal reform support, institutional investment access, and accelerated medical research opportunities. The company aims to unlock shareholder value through strategic growth initiatives.
RIV Capital Inc. reported financial results for the fiscal quarter and nine-month transition period ended December 31, 2023. Etain received approval to commence adult-use operations in New York, ending the year with $81.9 million in cash. The net loss was $47.3 million due to a non-cash impairment charge. Etain opened its first co-located dispensary in White Plains, NY. The company's strategic growth committee is focused on expanding its operations. Financially, revenue was $2.1 million for the quarter, with a gross loss of $0.6 million primarily due to an impairment charge of $48.7 million. The total comprehensive loss was $50.3 million for the quarter.