The following is a summary of the RIV Capital Inc. (CNPOF) Q4 2024 Earnings Call Transcript:

Financial Performance:

• RIV Capital reported a Q4 net revenue of $2.1 million, with a slight increase from $1.9 million in the same quarter the previous year.

• RIV's net loss of $47.3 million for Q4 was primarily due to an impairment charge of $48.7 million tied to the acquisition of cannabis licenses from Etain in 2022.

• The company reported approximately $82 million in cash at the end of 2023.

Business Progress:

• RIV successfully submitted its adult-use cannabis application and received approval from the New York Cannabis Control Board for Etain to become an adult-use licensee.

• The expansion of their Chestertown facility commenced in 2023, with 15 harvests already completed, exceeding their expectations.

• A new indoor flagship under construction in Buffalo is set to double the company's cultivation capacity by 2025.

• RIV opened its first combined retail and medical dispensary in 2024 at White Plains and plans to open two additional dispensaries by mid-year. The company also recognizes new opportunities to diversify their product range.

• New York's wholesale THC potency tax has been replaced with a 9% wholesale excise tax and the medical cannabis excise tax has been lowered to 3.15%.

More details: RIV CAPITAL INC IR

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