[PRESS RELEASE] – TAMPA, Fla., Dec. 31, 2025 – FLUENT Corp. announced that it has completed the sale of its Pennsylvania operations to HIVE Holdings Inc., effective Dec. 31, 2025, for US$12.5 million in cash.
The proceeds from the transaction were used to reduce FLUENT’s outstanding debt, which is expected to meaningfully enhance its balance sheet, allowing the company to further concentrate capital and operational resources on its core growth markets. The company is at arm's length from HIVE Holdings, and no finders’ fees are payable in connection with the sale.
“This transaction is an important step forward for FLUENT,” Interim CEO Dave Vautrin said. “By divesting our Pennsylvania operations, we are strengthening our balance sheet, reducing leverage, and sharpening our strategic focus on markets where we see the greatest near and mid-term opportunity.”
The sale comes at a pivotal moment for the U.S. cannabis industry, as recent federal action to reschedule cannabis represents a meaningful shift toward a more rational regulatory framework. FLUENT believes these developments, combined with improved access to capital and the potential removal of burdens such as those imposed by Section 280E of the Internal Revenue Code, will further reward disciplined operators with strong core assets and focused strategies.
“Against the backdrop of federal rescheduling, we believe now is the right time to simplify the business and focus on scale, efficiency and concentration in our most strategic markets,” Vautrin said. “This transaction reflects our commitment to long-term value creation for shareholders.”
Moelis & Co. LLC acted as financial adviser, Weil, Gotshal & Manges LLP acted as United States legal counsel, and Cassels Brock & Blackwell LLP acted as Canadian legal counsel to FLUENT. Eversheds Sutherland LLP served as legal counsel to HIVE Holdings.
