Cansortium Announces Results of Annual General and Special Meeting of Shareholders

Rhea-AI Summary

Cansortium Inc. announced the results of its annual general and special meeting held on June 30, 2021. Shareholders approved all proposals, including the election of six nominees to the board of directors, the adoption of a restricted share unit award plan, and the re-appointment of MNP LLP as the Company’s auditor. Following the meeting, William Smith was appointed Executive Chairman. Cansortium is a vertically-integrated cannabis company operating under the Fluent brand, with licenses in Florida, Pennsylvania, Michigan, and Texas, trading under the symbols TIUM.U and CNTMF.

Positive

• All shareholder proposals, including board elections and auditor re-appointment, were approved.
• Appointment of William Smith as Executive Chairman may strengthen the leadership.

Negative

• None.

MIAMI, Fla., July 2, 2021 /PRNewswire/ - Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) ("Cansortium" or the "Company"), a vertically-integrated cannabis company operating under the Fluent™ brand, is pleased to announce the voting results from its annual general and special meeting of shareholders (the "Meeting") held on June 30, 2021.

All matters presented to the Meeting were approved by the Company's shareholders, including:

1. the election of six nominees to the board of directors as proposed by the Company in its management information circular and supplement, being incumbent directors Robert Beasley, Roger Daher and John McKimm and new directors, William Smith, Mark Eckenrode and Alex Spiro;
2. the approval of the Company's restricted share unit award plan; and
3. the re-appointment of MNP LLP as auditor of the Company.

Following the Meeting, William Smith was appointed Executive Chairman of the Company.

About Cansortium Inc.
Cansortium is a vertically-integrated cannabis company with licenses and operations in Florida, Pennsylvania, Michigan 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 Miami, Florida.

Cansortium Inc.'s common shares trade on the CSE under the symbol "TIUM.U" and on the OTCQB Venture 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 many 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.sedar.com. 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.

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SOURCE Cansortium Inc

FAQ

What were the results of Cansortium's shareholder meeting on June 30, 2021?

All proposals, including board elections, a restricted share unit award plan, and auditor re-appointment, were approved.

Who were elected to Cansortium's board of directors?

The board includes Robert Beasley, Roger Daher, John McKimm, William Smith, Mark Eckenrode, and Alex Spiro.

What is Cansortium's stock symbol on the OTCQB?

Cansortium's stock symbol on the OTCQB is CNTMF.

Who was appointed Executive Chairman of Cansortium after the meeting?

William Smith was appointed as Executive Chairman.

What is the significance of the restricted share unit award plan approved by Cansortium?

The restricted share unit award plan is aimed at incentivizing and aligning the interests of employees with shareholders.