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About Fluent Corp (CNTMF)
Fluent Corp (formerly Cansortium Inc.) is a vertically integrated, multi-state cannabis company operating under the renowned FLUENT™ brand. Headquartered in Tampa, Florida, Fluent Corp is dedicated to delivering high-quality cannabis products through its comprehensive value chain, which spans cultivation, production, distribution, and retail. With licenses and operations in Florida, Pennsylvania, Texas, and New York, the company caters to both medical marijuana patients and adult-use consumers, offering a diverse portfolio of premium cannabis products tailored to meet varying needs and preferences.
Core Operations and Business Model
Fluent Corp’s vertically integrated model ensures strict quality control at every stage of its operations. The company oversees the cultivation of cannabis in state-of-the-art facilities, utilizing advanced techniques to optimize product quality and yield. This is followed by in-house production processes that focus on creating a wide range of cannabis products, including flower, concentrates, edibles, tinctures, and cartridges. Fluent’s retail network, which includes dispensaries operating under the FLUENT™ brand, provides a welcoming environment with knowledgeable staff to guide customers in selecting the best products for their needs. Additionally, the company leverages online ordering and express pickup services to enhance customer convenience.
Market Presence and Expansion
Fluent Corp has established a strong foothold in key markets, particularly in Florida, where it operates an extensive network of dispensaries. The company continues to expand its reach, with plans to open new locations and introduce innovative product lines. Recent initiatives include the launch of the Hyer Kind concentrates brand, the MOODS product line tailored to specific experiences, and the KNACK flower brand, which emphasizes locally grown, high-quality cannabis. Fluent’s commitment to scalability is further demonstrated by its strategic business combination with RIV Capital Inc., positioning it as a significant player in the evolving U.S. cannabis industry.
Commitment to Quality and Innovation
Fluent Corp is driven by an unwavering commitment to operational excellence and innovation. The company employs cutting-edge cultivation and extraction techniques to produce premium cannabis products that prioritize flavor, potency, and accessibility. Its product portfolio is designed to cater to a wide range of consumer preferences, from medical patients seeking therapeutic benefits to recreational users exploring curated cannabis experiences. By continuously expanding its offerings and introducing new formats, Fluent ensures it remains at the forefront of industry trends.
Regulatory and Industry Context
Operating within the highly regulated U.S. cannabis market, Fluent Corp navigates complex state and federal laws to deliver compliant and reliable products. While cannabis remains a Schedule I substance under federal law, the company’s adherence to state regulations and its focus on medical and adult-use markets position it as a trusted operator. Fluent’s proactive approach to compliance, coupled with its strategic partnerships and acquisitions, enables it to adapt to evolving regulatory landscapes while driving growth and profitability.
Strategic Vision
Fluent Corp’s strategic vision is centered on becoming a leading multi-state cannabis operator with a strong brand portfolio and a commitment to community engagement. The company’s recent rebranding and corporate name change reflect its alignment with its operational footprint and growth ambitions. Fluent continues to invest in its infrastructure, expand its retail presence, and enhance its product offerings to meet the needs of a diverse customer base. By prioritizing quality, innovation, and customer experience, Fluent aims to build long-term value for its stakeholders.
Fluent by Cansortium has announced the approval of a new 43,000 square-foot greenhouse in Homestead, Florida, and a 40,000 square-foot expansion at its Sweetwater facility. These expansions aim to enhance the monthly supply of biomass for producing CBD and THC oil for their dispensaries across Florida. The company recently opened two new dispensaries, bringing its total to 27 by year-end. The new facilities will support the growth of Fluent's CBD and Blend product lines, bolstering its presence in the competitive cannabis market.
Cansortium Inc. has announced the opening of its second dispensary in Pennsylvania, Fluent Mechanicsburg, marking its 28th overall. Located at 6200 Carlisle Pike, the 4,000+ sq. ft. store offers a wide variety of cannabis products including whole flower and oil cartridges. CEO Robert Beasley highlighted Pennsylvania's significant cannabis market, projecting over $1 billion in annual sales for 2021. Cansortium's medical dispensary permit allows for three retail locations, with plans for a third store later this year.
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.
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