MIAMI, Jan. 21, 2021 /PRNewswire/ - Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (
Cansortium or the
Company ), a vertically integrated cannabis company with operations in Florida, Texas, Michigan and Pennsylvania, today announced that Chief Executive Officer Robert Beasley has been appointed to the Company s Board of Directors. Mr. Beasley, who was named Chief Executive Officer of the Company in September 2020, joins Executive Chairman Neal Hochberg and Directors David Abrams, John McKimm and Roger Daher.
In connection with the addition of Mr. Beasley to the Board, the Company announces the termination of the Special Committee and its disbandment. The Special Committee, comprised of Messrs. Hochberg, Abrams and McKimm, was initially formed in October 2019 to work closely with senior management to ensure the Company s ability to capitalize on its available market opportunities and to improve the balance sheet. Along the way, the Special Committee oversaw the implement
Cansortium Extends $10 Million Convertible Notes
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MIAMI, Dec. 17, 2020 /PRNewswire/ - Cansortium Inc. ( Cansortium or the Company ) (CSE: TIUM.U), (OTCQB: CNTMF), a vertically-integrated provider of premium-quality medical cannabis operating under the Fluent™ brand, today announced that it has reached an agreement in principle with the holders of its February 2019 Convertible Notes (the Notes ) to extend the maturity dates of the Notes to December 2022. The Company had previously announced in August 2020 amendments to the Notes that extended the maturity dates to December 31, 2020, with an automatic extension to February 28, 2021 upon agreement by the majority noteholders. The majority noteholders have agreed to the automatic extension to allow the parties to finalize the documentation of the longer-term extension.