Fluent Corp Stock Price, News & Analysis

Cansortium has successfully completed a US$12 million private placement, increasing the initial US$10 million target due to strong investor interest. Each unit comprises one common share and one-half warrant, exercisable at US$0.90 for 24 months. Proceeds will enhance cultivation capacity in Florida and expand operations in Michigan. Key initiatives include boosting annual flower production capacity from 3,000 lbs. to 6,000 lbs. and accelerating the opening of four new dispensaries. This financial milestone aims to create significant shareholder value.

Cansortium Inc. (OTCQB: CNTMF) has surpassed its 2020 Florida revenue guidance by $1.9 million, reporting $13.4 million for Q4 and approximately $46.9 million for the entire year. The company attributes its Q4 success to the rollout of edible products in October 2020. In addition, Cansortium has harvested over 4,000 pounds of cannabis in Michigan, with plans to sell 30% of this as flower. The appointment of Patricia Fonseca as Chief Financial Officer is also announced, expected to enhance the management team.

Cansortium Inc. has issued a clarification regarding the share ownership by the Smith Group as of December 31, 2020. The Smith Group holds 1,421,538 proportionate voting shares, accounting for approximately 19% of the 7,411,183 voting shares and 13,412,622 common shares, representing 11.8% of total common shares. Combined, they hold 14.7% of Cansortium's total issued shares. The announcement follows a restructuring agreed upon in January 2020 that involved shares transferred from the founders.

Cansortium, a vertically integrated cannabis company, announced the completion of amendments to its convertible notes initially issued in February 2019. The maturity date has been extended to December 1, 2022, with holders receiving common shares for unpaid interest totaling $568,540. An extension fee of $105,685.62 was also paid through share issuance. Key amendments include a reduced conversion price to $0.60 and options for quarterly interest payments. Cansortium aims to enhance shareholder value through these strategic financial adjustments.

Cansortium Inc. has expanded its operations in Florida by opening its 22nd dispensary in Coral Gables on October 14, marking the fourth in 2020. The new location enhances Fluent's presence in Miami-Dade County, following dispensaries in Cutler Bay and North Miami Beach. This launch coincides with the introduction of Fluent Gels, the company's first edibles line, with over 1,100 units sold on the first day. Cansortium aims to open three more dispensaries by year-end, furthering its commitment to premium cannabis products in Florida.

Cansortium Inc. announced the launch of its edibles line, Fluent Gels, in Florida's dispensaries after receiving regulatory approval from the Florida Department of Health. The edibles, available in three flavors and pre-dosed with 10mg of THC, cater to the growing demand among medical marijuana patients. CEO Robert Beasley emphasized the company's operational excellence and strong partnerships in developing premium cannabis products. Cansortium aims to expand its offerings while maintaining high-quality standards in its dispensaries across Florida.

Cansortium Inc. reported record second quarter revenue of $13.2 million, a 117% increase from $6.1 million in Q2 2019. The company achieved a consolidated income from operations of $0.8 million compared to an operational loss of $8.1 million in the prior year. Adjusted EBITDA reached $2.6 million, recovering from a loss of $(1.7) million. Despite a net loss of $(5.5 million), Cansortium is on track for a full-year revenue outlook of $55-$60 million. The company has also expanded its Florida presence with 21 dispensaries as of August 2020.

Cansortium Inc. (OTCQB: CNTMF) opened its 21st Florida dispensary on August 21, 2020, located in Coral Springs. This 4,200 square foot facility is the city's first dispensary, situated over 10 miles from the nearest competitor. Cansortium aims to enhance patient access to premium-quality cannabis, with plans for four additional dispensaries in Florida in the coming months. The Fluent brand emphasizes high-quality products cultivated and processed in compliance with Florida regulations. The company also operates in Texas, Michigan, and Pennsylvania, seeking to create shareholder value.

Cansortium has announced an amendment to its convertible notes originally issued in February 2019, which totaled $10,000,021.50 at a 12% interest rate. The maturity date has been extended to December 31, 2020, with a potential further extension until February 28, 2021, subject to Noteholder agreement. The company will issue shares valued at $0.45 to cover $1,962,485.62 in unpaid interest and pay a 1% extension fee of $119,265.07 in shares. The principal can convert into Note Units at $2.00, with an attached warrant exercise price of $2.60.