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RIV Capital Inc (OTCMKTS:CNPOF) Stock Soars Sees Sell Off From The Recent Peak

Ash K , , , ,

RIV Capital Inc (OTCMKTS:CNPOF) stock has been moving within a narrow over the past few weeks. Moreover, the stock has lost about 40% over the past 6-month.

Market Action

On Friday, CNPOF closed flat at $1.17. More than 34k shares have exchanged hands, well below its average volume of 132k shares. The stock opened at $1.16 and moved in a range of $1.1646 – 1.1900.

RIV Capital Announces Results of Annual General and Special Meeting of Shareholders

Here are the highlights:

RIV Capital announced the voting results of its annual general and special meeting of shareholders (the “Meeting”) held today.

Shareholders voted in favour of three items of business before the Meeting, those being the election of the director nominees listed in the Company’s management information circular, approval of the Company’s financial statements, and the reappointment of KPMG LLP as the Company’s auditors. The fourth item before the Meeting, the resolution to adopt and approve an advance notice bylaw, received an insufficient number of votes and was not carried.

RIV Capital  is an operating and brand platform that aims to acquire, invest in, and develop U.S. cannabis companies to build the cannabis industry of tomorrow, today. By bringing together people, capital, and ideas, we aim to provide shareholders with exposure to exceptional cannabis companies in strategically attractive states poised for significant growth. Backed by our in-house expertise and cannabis domain knowledge, we aim to develop operators and brands who can build market share while we expand the geographic and strategic scope of our multistate platform. RIV Capital also has a strategic relationship with The Hawthorne Collective, a subsidiary of The Scotts Miracle-Gro Company, pursuant to which RIV Capital is the Hawthorne Collective’s preferred vehicle for cannabis-related investments not under the purview of other ScottsMiracle-Go subsidiaries.

 Trader Notes:

CNPOF stock is trading below all the key moving averages with 50-day and 200-Day SMA stand at $1.27 and $1.59 respectively – signaling a weak momentum. Moreover, RSI stands at 41 – giving a neutral sign.