Cansortium Investors Pull Back After Q4 Print: What Cannabis Stock Investors Need To Know
Vertically integrated cannabis company
Cansortium Inc. (CSE:TIUM) (OTCQB:CNTMF), which operates under the Fluent brand, announced its fourth-quarter and full-year 2020 financial results Monday.
The Miami-based company generated $14.7 million in consolidated revenue during the three months ending Dec. 31, marking a 54% year-over-year increase. Our strong fourth-quarter results reflect the many improvements we have made across the organization, and that momentum has carried into 2021, CEO Robert Beasley said in a statement.
Cansortium s Q4 Highlights
Florida revenue spiked 43% year-over-year to $12.8 million.
Consolidated loss from operations amounted to $8.4 million versus a $32.8-million loss in the corresponding quarter of 2020.
Cansortium Reports Fourth Quarter And Full Year 2020 Financial Results And Provides Recent Operational Update
Stocks May 4, 2021 • 7:42 AM EDT 7 MIN READ • By Michael Berger Share
Cansortium Inc. (CSE: TIUM.U) (OTCQB: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated cannabis company operating under the Fluent™ brand, is reporting financial results for the fourth quarter and full year ended December 31, 2020 and is providing an operational update on recent events.
Cansortium Logo (CNW Group/Cansortium Inc)
The Company’s audited consolidated financial statements and accompanying notes for fiscal 2020, along with the Management Discussion and Analysis (MD&A), are available under the Company’s profile on SEDAR at www.sedar.com and are also accessible through the Investor Relations section of the Company’s website at www.cansortium.com.
Cansortium Completes $71 Million Debt Financing
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Additional Liquidity Significantly Strengthens Balance Sheet
Proceeds to Fund Expansion in Florida, Pennsylvania and Michigan
MIAMI, April 30, 2021 /PRNewswire/ - Cansortium Inc. ( Cansortium or the Company ) (CSE: TIUM.U), (OTCQB: CNTMF), a vertically-integrated cannabis company operating under the Fluent™ brand, today announced it has closed a US$71 million Senior Secured Term Loan due April 29, 2025 (the Term Loan ) with a syndicate led by U.S.-based institutional lenders.
The Term Loan will bear interest of 13% annually, with a four-year maturity and 18 months of call protection. The Term Loan consists of a $50 million tranche priced with an original issue discount of 3% that includes warrants to acquire 12.5 million common shares of common stock at an exercise price of $1.20 per share, as well as a $21 million tranche priced with an original issue discount of 7% with no equity compone
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Kerry County Council has defended its decision to submit funding applications for a Fáilte Ireland scheme just for sites in Killarney and Dingle.
At the recent meeting of Kerry County Council, a number of councillors expressed frustration that submissions for other towns and villages in the county were not made.
The council intends to propose Kenmare Place in Killarney and the boat yard site, near the waterfront in Dingle for the outdoor dining scheme.
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If granted, funding will be used to upgrade streets and public spaces and implement weather-proofing to facilitate year-round outdoor dining.
Chief Executive of Kerry County Council, Moira Murrell, outlined that this scheme is only eligible for year-round tourism areas, and that eligibility is based on footfall.