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Benzinga
Benzinga
Business
Vuk Zdinjak

Riv Capital Is Being Sued By JW Asset Management, Here Are The Details

RIV Capital Etain Jason Wild NY United States

RIV Capital Inc. (OTCPK: CNPOF) (CSE:RIV) received notice of an Ontario Superior Court of Justice application by JW Asset Management in connection with the company's process regarding its acquisition of ownership and control of Etain, LLC and Etain IP LLC, owners and operators of legally licensed cannabis cultivation and retail dispensaries in New York.

JWAM, an investment firm focused on the pharmaceutical and cannabis industries, is the holder of approximately 20.4% of the company's issued and outstanding Class A common shares. JWAM's president and chief investment officer, Jason Wild, both individually and through JWAM beneficially owns approximately 35.8% of TerrAscend Corp. (OTCQX:TRSSF) (CSE:TER), a competing U.S. multi-state cannabis operator. Wild also serves as the executive chairman and chairman of the board of TerrAscend.

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