CANSORTIUM INC - CNTMF STOCK NEWS

Cansortium, operating under the FLUENT brand, announced a change in its Chief Financial Officer (CFO) position. Jeffrey Batliner resigned as CFO effective May 13, 2024. Patricia Fonseca has been re-appointed as the CFO, effective immediately. Ms. Fonseca previously served as the company's CFO from March 9, 2021, to November 21, 2022.

The company and its board of directors expressed gratitude to Mr. Batliner for his contributions and extended best wishes for his future endeavors.

Cansortium Inc. reported strong financial results for Q4 and full year 2023, with record revenue, positive cash flow, and growth in key markets. Revenue increased 9% YoY to $25.5 million in Q4 and 11% to $97.3 million for the full year. Adjusted gross profit was $49.5 million, with $27.2 million in adjusted EBITDA for the year. The Company remains focused on operational improvements, expansion in Florida and Pennsylvania, and growth in Texas.

Cansortium Inc. schedules a conference call to discuss its financial and operating results for the fourth quarter and full year ended December 31, 2023. The call will be held on Monday, April 29, at 4:30 P.M. ET. Interested parties can submit questions to the Company prior to the call. The conference call will also be available for replay via the Company’s investor relations website.

Cansortium Inc. opens its first Daytona Beach location, the 35th dispensary in Florida, offering convenient walk-in and drive-thru services for medical cannabis patients. The facility provides a variety of premium cannabis products and personalized guidance for patients, aiming to enhance accessibility and patient experience.

Cansortium Inc. announces the commencement of two new cultivation facilities in Ruskin and Tampa, Florida, creating employment opportunities in the cannabis industry. The company plans to expand its production to meet the increasing demand for medical marijuana in Florida.

Cansortium Inc. announces the opening of its 34th medical cannabis dispensary in Florida, the first in Cocoa with a cannabis drive-thru. The new 2,600 square foot dispensary will provide over $400 thousand in annual wages for local employees and an estimated $3.5 million total benefit to the local economy. The grand opening event will feature music, food trucks, community vendors, and promotional specials. The dispensary will offer a wide range of products from the Company's brands such as MOODS, Black Line, Freedom Town Holdings, Smokiez Edibles, and FLUENT Care.

Cansortium Inc. (TIUM.U) (CNTMF) reported a record Q3 revenue of $25.3 million, a 14% YoY increase, with cash from operations up 32% to a record $7.1 million. The company's adjusted EBITDA was $8.8 million, with 33 stores operating in Florida and plans to open more. The company's total debt was $60.3 million, with approximately 298 million shares outstanding.

Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) has rescheduled its call to discuss financial and operating results for the third quarter ended September 30, 2023. The conference call, hosted by Cansortium management, will include a question-and-answer session. Interested parties can submit questions prior to the call. Date: Wednesday, November 29, 2023. Time: 4:30 p.m. Eastern time.

Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) announces the issuance of 1,184,207 common shares to directors in exchange for the cancellation of director fees. The Debt Shares are being issued at a price equal to the closing market price of the common shares of the Company as listed on the Canadian Securities Exchange on September 30, 2023. This issuance constitutes a 'related party transaction' as defined in Multilateral Instrument 61-101.