Cansortium Completes RIV Capital Acquisition, Adding New York Retail, Wholesale, Cannabis Cultivation Operations
Merger Announcement: Cansortium Inc. (FLUENT) has completed its acquisition of RIV Capital, exchanging shares at a ratio of 1.245 FLUENT shares for each RIV Capital share, resulting in FLUENT shareholders owning approximately 51.25% of the combined entity.
Leadership and Market Position: Robert Beasley has been appointed CEO of the newly formed company, which will continue to operate under the FLUENT name, leveraging its strategic presence in key growth markets, particularly with the launch of MOODS in New York.
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RiverNorth Funds Propose 2026 Distribution Rate Adjustments
- Distribution Policy Update: RiverNorth Funds propose a 2026 distribution rate of 12.50% for RIV and 6.75% for RMI, RMM, RFM, RFMZ, and RMMZ, which aims to provide investors with stable cash flow and enhance investment appeal.
- Distribution Dates Set: The distribution dates for January, February, and March 2026 are established as January 30, February 27, and March 31, ensuring timely returns for investors and improving liquidity.
- Tax Implications Explained: A portion of the distributions may involve return of capital, with RIV estimating that 70.89% of its distribution comes from current year net investment income and 29.11% from capital return, impacting investors' tax planning and return expectations.
- Investor Flexibility Options: Investors can choose to receive additional shares through a dividend reinvestment plan or cash distributions, which will help enhance shareholder engagement and market participation.
RiverNorth Opportunities Fund, Inc. Reveals Initial Outcomes of Rights Offering
Offering Results: RiverNorth Opportunities Fund announced preliminary results of its rights offering, receiving subscription requests for 5,906,588 shares, with expected gross proceeds of approximately $70.6 million.
Subscription Price: The final subscription price per share was set at $11.95, based on 92.5% of the Fund's net asset value, which was higher than the initial estimate, resulting in no excess payments to rights holders.
