Cansortium Awarded Cannabis Cultivation, Processing and Medical Sales License by Health Canada


Ryan Allway

May 6th, 2019

Exclusive, Top News


Miami, Florida–(Newsfile Corp. – May 6, 2019) – Cansortium Inc. (CSE: TIUM) (the “Company” or “Cansortium”), a leading Florida-based multi-state operator (“MSO”) medical cannabis company with a mission to deliver the highest standards of cannabis care from nursery to lab to shelf, announced that Health Canada, pursuant to the Cannabis Act, has granted to Cansortium Canada, an indirect wholly-owned subsidiary of the Company, a cannabis cultivation, processing and medical sales license.

Cansortium Founder & CEO Jose Hidalgo commented, “After more than a year and a half of dedicated and diligent work on the process, securing our Canadian license is a significant milestone on our path toward becoming a truly global cannabis company. We are excited to begin operations immediately at our cultivation and processing facility in Grimsby, Ontario and to introduce our premium-grade Fluent™ Cannabis Care products to the progressive Canadian medical market.”

The Company used a portion of its recent initial public offering to complete preparation of its Grimsby, Ontario facility. The Company will commence use of the campus consisting of 21,780 sq. ft. of greenhouse cultivation capacity, 3,468 sq. ft. for processing and 8,500 sq. ft. of physical plant. The campus is approximately 85% complete for phase 2, which is planned to be completed in Q3, 2019. Once complete, this will increase the total cultivation space to 100,200 sq. ft and an expected annual production of up to 3,320 kgs of dried cannabis and derivitives.

The style of operation in Grimsby will be similar to facilities the Company currently operates in Florida and Texas in the United States and Colombia in South America. The Canadian license authorizes the Company to cultivate and process cannabis containing THC and CBD. The license also allows Cansortium Canada to distribute seeds and plant materials to authorized provincial/territorial distributors and retailers. In addition, the Company can sell cannabis in fresh, dried or oil formulations directly to registered patients within Canada.
The Company’s Canadian operations also include industrial hemp cultivation and production operating under its majority-owned subsidiary, Arcadia EcoEnergies Ltd. (“Arcadia”), in New Brunswick, Canada. This consisted of nearly 1,000 acres of hemp cultivation in 2018, where Arcadia produces seed for the processing of hemp oil, hemp meal and hemp protein powder.
About Cansortium
Cansortium is a global medical cannabis company operating in highly populous medical cannabis markets with a mission to deliver the highest standards of cannabis care from nursery to lab to shelf. Headquartered in Miami, FL and operating under the brand Fluent Cannabis Care (formerly Knox Medical), the Company through its subsidiaries operates cultivation, processing and dispensary facilities across Florida, Texas, Puerto Rico and a dispensary license in Pennsylvania. The Company also has licensed cultivation facilities in Colombia and Canada, with licensing pending in Michigan.
For further information, contact:
Jeffrey Reath

Executive Vice-President, Finance and Investor Relations
506-871-6135
[email protected]

Forward-Looking Information

Certain information in this news release, may constitute forward-looking information. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as “plans”, “targets”, “expects” or “does not expect”, “is expected”, “an opportunity exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “does not anticipate” or “believes”, or variations of such words and phrases or state that certain actions, events or results “may”, “could”, “would”, “might”, “will” or “will be taken”, “occur” or “be achieved”. In addition, any statements that refer to expectations, projections or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent management’s expectations, estimates and projections regarding future events.

Forward-looking information is necessarily based on a number of opinions, assumptions and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in the public documents of the Company available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully.

There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

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Ryan Allway

About Ryan Allway

Mr. Allway has over a decade of experience in the financial markets as both a private investor and financial journalist. He has been actively involved in the cannabis industry since its inception, covering public and private companies.


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