QualityStocksNewsBreaks – RIV Capital Inc. (TSX: RIV) (OTC: CNPOF) Announces Court Approval of PharmHouse Asset Purchase Agreement, $25M Voluntary Payment
RIV Capital (TSX: RIV) (OTC: CNPOF), (formerly Canopy Rivers Inc.), today announced that the asset purchase agreement proposed by PharmHouse Inc. has been approved by the Ontario Superior Court. The agreement outlines PharmHouse’s intent to sell various operating assets, including its facility and certain equipment located at the facility. As part of the announcement, RIV Capital also noted that it will make a voluntary $25 million payment to the lenders of PharmHouse’s nonrevolving syndicated Credit Facility, thereby reducing the company’s estimated liability in respect to the PharmHouse Credit facility by that same amount. RIV Capital noted that it is making…