The merger between Florida-based, vertically integrated marijuana multistate operator Cansortium, which operates under the Fluent brand, and RIV Capital closed on Thursday.
Under the transaction – which MJBizDaily first detailed in May – Fluent has acquired all issued and outstanding Class A common shares of Toronto-headquartered RIV Capital in exchange for Fluent shares, according to a news release.
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Robert Beasley was appointed chief executive officer of the combined company, which will operate under the Fluent name.
He has served as Cansortium’s CEO since 2020.
Breakdown of Cansortium-RIV deal
RIV Capital shareholders received 1.245 of a common share of Fluent in exchange for each RIV Capital share held.
Fluent shareholders now hold about 51.25% of the combined business.
RIV Capital shareholders and The Hawthorne
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