Cansortium Announces Change of Auditor

Rhea-AI Summary

Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF), a vertically-integrated cannabis company operating under the Fluent™ brand, has announced a change in its auditor. The company's board of directors has appointed PKF O'Connor Davies LLP as the new auditor, effective September 23, 2024, replacing Baker Tilly US, LLP, which resigned at the company's request on the same date.

The Former Auditor did not express any modified opinions in their reports on Cansortium's financial statements for the relevant period, as defined by National Instrument 51-102. Additionally, there were no reportable events involving the company and the Former Auditor. Cansortium has filed the required notice of change of auditor and accompanying letters from both auditors on SEDAR+, in compliance with regulatory requirements.

Tampa, Florida--(Newsfile Corp. - September 26, 2024) - Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) ("Cansortium" or the "Company"), a vertically-integrated cannabis company operating under the Fluent™ brand, announces that it has changed its auditor from Baker Tilly US, LLP (the "Former Auditor") to PKF O'Connor Davies LLP (the "Successor Auditor"). At the request of the Company, the Former Auditor resigned as the auditor of the Company effective September 23, 2024 and the board of directors of the Company appointed the Successor Auditor as the Company's auditor effective September 23, 2024, to hold office until the next annual meeting of the Company.

There were no modified opinions expressed in the Former Auditor's reports on any of the Company's financial statements relating to the "relevant period" (as such term is defined in National Instrument 51-102 - Continuous Disclosure Obligations ("NI 51-102")). There have been no "reportable events" (as such term is defined in NI 51-102) involving the Company and the Former Auditor.

In accordance with NI 51-102, the notice of change of auditor, together with the required letters from the Former Auditor and the Successor Auditor, have been filed on SEDAR+.

About Cansortium Inc.

Cansortium is a vertically-integrated cannabis company with licenses and operations in Florida, Pennsylvania and Texas. The Company operates under the Fluent™ brand and is dedicated to being one of the highest quality cannabis companies for the communities it serves. This is driven by Cansortium's unrelenting commitment to operational excellence in cultivation, production, distribution and retail. The Company is headquartered in Tampa, Florida. For more information about Cansortium, please visit www.getfluent.com.

Cansortium Inc.'s Common Shares trade on the CSE under the symbol "TIUM.U" and on the OTCQX Best Market under the symbol "CNTMF". For more information about the Company, please visit www.getfluent.com.

Forward-Looking Information

Certain information in this news release may constitute forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management's expectations, estimates, and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward- looking information, including but not limited to the factors described in the public documents of the Company available at www.sedarplus.ca. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

Company Contact:

Robert Beasley, CEO
(850) 972-8077
investors.getfluent.com

Investor Relations Contact:
investors@cansortiuminc.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/224697

FAQ

When did Cansortium Inc. (CNTMF) change its auditor?

Cansortium Inc. (CNTMF) changed its auditor on September 23, 2024, appointing PKF O'Connor Davies LLP as the new auditor.

Who was Cansortium's (CNTMF) previous auditor?

Cansortium's (CNTMF) previous auditor was Baker Tilly US, LLP, who resigned at the company's request on September 23, 2024.

Were there any modified opinions or reportable events in Cansortium's (CNTMF) auditor change?

No, there were no modified opinions expressed by the Former Auditor and no reportable events involving Cansortium (CNTMF) and the Former Auditor.

What regulatory compliance did Cansortium (CNTMF) follow for the auditor change?

Cansortium (CNTMF) filed the notice of change of auditor and required letters from both auditors on SEDAR+, in compliance with National Instrument 51-102.