ScottsMiracle-Gro Announces Creation of New Investment Entity to Enable Investments in the Cannabis Industry

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Summary

Another wholly-owned subsidiary, The Hawthorne Collective, has been established to invest in emerging areas of the cannabis industry. Neither The Collective nor ScottsMiracle-Gro will have an active day-to-day role in RIV Capital nor the companies in which it invests. We believe that bringing together people, capital, and ideas raises the potential of the entire cannabis industry. Upon conversion, The Collective, and thus ScottsMiracle-Gro, would own approximately 42 percent of RIV Capital. Upon close, RIV Capital will become The Collective’s preferred vehicle for future investments that are not currently in the purview of The Hawthorne Gardening Company.

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The Hawthorne Collective to Invest $150 million in Canadian-based RIV Capital

MARYSVILLE, Ohio, Aug. 10, 2021 (GLOBE NEWSWIRE) — The Scotts Miracle-Gro Company (NYSE: SMG) announced today the creation of a newly formed subsidiary, The Hawthorne Collective, which will focus on strategic minority investments in areas of the cannabis industry not currently pursued by The Hawthorne Gardening Company. To that end, The Hawthorne Collective will provide a $150 million convertible loan to Toronto-based RIV Capital (TSX: RIV) (OTC: CNPOF), a cannabis investment and acquisition firm currently listed on the Toronto Stock Exchange.

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