BUFFALO, N.Y. — A Toronto-based cannabis company with a large grow facility planned in Buffalo has merged with a Tampa, Florida-based company to become a multi-state operator.
Cansortium Inc., one of Florida’s largest cannabis operators, announced last week its plans to merge with RIV Capital, which owns the medical cannabis brand Etain and is building a 68,000-square-foot grow facility in Buffalo. RIV will be the largest tenant of Zephyr Investments LLC’s planned 1.375 million-square-foot cannabis campus at Buffalo Lakeside Commerce Park.
“The combined company will enable RIV Capital to deliver on its vision of becoming an established multi-state operator, capable of deploying capital for strategic investments beyond New York,” said Mike Totzke, RIV’s COO and interim CEO. “In an environment where state-issued cannabis licenses are limited, Cansortium opens doors in important growth markets in the U.S. Additionally, Cansortium has a proven operating model that can bring efficiencies and economies of scale to RIV Capital’s cultivation and dispensary operations.”
Read more from our partners at Buffalo Business First.
Related Video:
