[PRESS RELEASE] – TAMPA, Fla., July 23, 2026 – FLUENT Corp., a vertically integrated, multistate cannabis company, announced that it has entered into a definitive agreement (the “purchase agreement”) with a third-party operator (the “purchaser”), pursuant to which, among other things, the purchaser will acquire Etain LLC, the company’s operating entity in New York, (the “transaction”).
The purchase agreement was entered into on July 22, 2026. The transaction contemplates the sale of Etain’s Registered Organization license, certain of the company's New York operating assets, and associated leases in New York in exchange for cash consideration, subject to customary purchase price adjustments.
The company believes the transaction advances its strategic objectives and expects that the transaction will support the satisfaction of applicable regulatory requirements in connection with the company’s previously announced plan of arrangement involving Vireo Growth Inc. (the “arrangement”), while providing for an orderly transition of the New York operations to an experienced operator committed to serving patients and consumers.
Completion of the arm’s-length transaction remains subject to closing conditions, including, among other customary conditions, approval of the change of ownership by the New York Cannabis Control Board and that all conditions precedent to the completion of the arrangement have been obtained.
