FLUENT Corp. has completed the sale of its Pennsylvania operations to HIVE Holdings, Inc. for US$12.5 million in cash. The proceeds were used to reduce debt and enhance the balance sheet, allowing FLUENT to focus on core growth markets. This move aligns with the changing U.S. cannabis industry landscape following recent federal action to reschedule cannabis. FLUENT believes this transaction will create long-term value for shareholders. The company operates in Florida, New York, and Texas, producing cannabis products under various brands. Moelis & Company LLC and legal firms advised on the sale. Contact investor or media relations for more information.

Read more at GlobeNewswire: FLUENT Corp. Announces Sale of Pennsylvania Operations