CANSORTIUM INC - CNTMF STOCK NEWS

Cansortium Inc. (CSE: TIUM.U, OTCQX: CNTMF), a vertically-integrated cannabis company, announced a conference call scheduled for August 23, 2021, at 5:00 p.m. Eastern time to discuss its financial results for Q2 ending June 30, 2021. The company will release its results before the call and a question and answer session will follow. Investors can join the call using provided dial-in numbers and conference ID. Cansortium operates under the Fluent™ brand across multiple states including Florida and Texas, emphasizing operational excellence in the cannabis industry.

Cansortium Inc. (CSE: TIUM.U; OTCQX: CNTMF) has successfully upgraded its trading status to the OTCQX® Best Market from the OTCQB® Venture Market, effective July 22, 2021. This upgrade signifies that Cansortium meets high financial standards and adheres to best practices in corporate governance. The OTCQX Market aims to enhance visibility and credibility among investors. CEO Robert Beasley expressed gratitude for the platform, emphasizing expected improvements in market exposure for both individual and institutional investors. Current shareholders need not take any action.

Cansortium Inc. has announced the opening of its 26th retail location in Florida, the Fluent Deerfield Beach dispensary, enhancing access to medical cannabis products. Located at 622 S. Federal Highway, this dispensary will offer a wide range of premium cannabis items, including dried flower, edibles, and concentrates. CEO Robert Beasley highlighted the expansion as a response to the area's strong demand, particularly as the existing Broward County dispensary is among the top performers. Cansortium plans to open a 27th location later this year.

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.

Cansortium Inc. (CSE:TIUM.U, OTCQB: CNTMF) announced the conversion of $5 million in convertible promissory notes into common shares, fulfilling its obligations. The conversion resulted in the issuance of 8,426,574 shares at $0.60 per share, following a sustained share price above $0.96. CEO Robert Beasley emphasized the simplification of the capital structure and improvement of the balance sheet. Furthermore, Cansortium has partnered with Elevate IR to enhance its investor relations strategy.

Cansortium Inc. (CSE: TIUM.U, OTCQB: CNTMF) has agreed to issue 143,678 common shares, valued at U.S. $0.87 each, to an independent director in exchange for canceling $125,000 in director fees. This transaction is classified as a related party transaction under MI 61-101, as it does not exceed 25% of the company's market capitalization. The company intends to expedite the transaction to reduce accrued liabilities. Debt Shares issued to Canadian residents will be subject to a four-month hold period, emphasizing Cansortium's commitment to financial efficiency.

Cansortium Inc. announced a rescheduled annual general and special meeting for shareholders on June 30, 2021, at 10:00 a.m. Toronto Time. This change follows shareholder feedback and adds two nominees for the board election, John McKimm and Alex Spiro, increasing the total nominees to six. The company also confirmed that two current directors, Neal Hochberg and David Abrams, will not seek re-election. Shareholders must disregard previous voting instructions and submit new ones using updated proxy forms. Further details will be available in a Supplement posted on SEDAR.

Cansortium Inc. (OTCQB: CNTMF) reported a 49% YoY increase in Q1 revenue, totaling $15.1 million, accompanied by a significant rise in adjusted EBITDA to $4.4 million. Florida revenue surged by 41.4% to $13.1 million. Despite a net loss of $5.1 million, a notable improvement from a prior loss of $13.9 million was recorded. The company anticipates expansion to 30 dispensaries and 150,000 ft² cultivation capacity by year-end, aiming for 2021 revenues of $90 million to $100 million.

Cansortium Inc. will hold a conference call on May 28, 2021, at 4:30 p.m. Eastern time to discuss its financial results for Q1 2021, ended March 31.

Details for participation include a toll-free number at 1-800-319-4610 and an international dial-in at (604) 638-5340. The call is an opportunity for management to address questions post-discussion.

Cansortium, operating under the Fluent™ brand, focuses on quality cannabis production and has licenses in Florida, Pennsylvania, Michigan, and Texas.