Cansortium Pronounces Shares for Debt Settlement


MIAMI, Jan. 6, 2023 /PRNewswire/ – Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) (“Cansortium” or the “Firm“), a vertically-integrated hashish firm working underneath the Fluent model, declares that additional to its press launch dated November 2, 2022, the Firm has issued an combination of 1,354,167 frequent shares (“Debt Shares“) to sure of its administrators in trade for the cancellation of US$162,500 of director charges owing. The Debt Shares are being issued at a worth equal to the closing market worth of the frequent shares of the Firm as listed on the Canadian Securities Change (“CSE“) on December 30, 2022, being US$0.12, in accordance with the insurance policies of the CSE.

The issuance of the Debt Shares to the administrators constitutes a “associated occasion transaction” as this time period is outlined in Multilateral Instrument 61-101: Safety of Minority Securityholders in Particular Transactions (“MI 61-101“). The administrators of the Firm, performing in good religion, decided that the honest market worth of the Debt Shares being issued pursuant to the shares for debt transaction and the consideration being paid is cheap. The Firm intends to depend on the exemptions from the valuation and minority shareholder approval necessities of MI 61-101 contained in sections 5.5(a) and 5.7(1)(a) of MI 61-101 as neither the honest market worth of the Debt Shares nor the debt exceeds 25% of the Firm’s market capitalization.

The Firm didn’t file a cloth change report greater than 21 days earlier than the anticipated closing of the shares for debt transaction as the main points and quantities of money owed settled underneath the transaction weren’t finalized till nearer to the closing and the Firm wished to shut the transaction as quickly as practicable, which the Firm deems affordable because it needs to cut back its accrued liabilities as quickly as attainable. Any Debt Shares issued will likely be topic to a 4 (4) month maintain interval.

About Cansortium Inc.

Cansortium is a vertically-integrated hashish firm with licenses and operations in Florida, Pennsylvania, Michigan and Texas. The Firm operates underneath the Fluent model and is devoted to being one of many highest high quality hashish firms for the communities it serves. That is pushed by Cansortium’s unrelenting dedication to operational excellence in cultivation, manufacturing, distribution and retail. The Firm is headquartered in Miami, Florida.

Cansortium Inc.’s Widespread Shares commerce on the CSE underneath the image “TIUM.U” and on the OTCQX Greatest Market underneath the image “CNTMF”. For extra details about the Firm, please go to www.getfluent.com.

Ahead-Wanting Data

Sure data on this information launch could represent forward-looking data. In some circumstances, however not essentially in all circumstances, forward-looking data will be recognized by means of forward-looking terminology equivalent to “plans”, “targets”, “expects” or “doesn’t count on”, “is anticipated”, “a chance exists”, “is positioned”, “estimates”, “intends”, “assumes”, “anticipates” or “doesn’t anticipate” or “believes”, or variations of such phrases and phrases or state that sure actions, occasions or outcomes “could”, “might”, “would”, “would possibly”, “will” or “will likely be taken”, “happen” or “be achieved”. As well as, any statements that discuss with expectations, projections, or different characterizations of future occasions or circumstances comprise forward-looking data. Statements containing forward-looking data should not historic details however as a substitute characterize administration’s expectations, estimates, and projections concerning future occasions.

Ahead-looking data is essentially based mostly on plenty of opinions, assumptions and estimates that, whereas thought of affordable by the Firm as of the date of this information launch, are topic to identified and unknown dangers, uncertainties, assumptions and different components that will trigger the precise outcomes, stage of exercise, efficiency or achievements to be materially completely different from these expressed or implied by such forward-looking data, together with however not restricted to the components described within the public paperwork of the Firm accessible at www.sedar.com. These components should not meant to characterize a whole checklist of the components that would have an effect on the Firm; nonetheless, these components must be thought of fastidiously. There will be no assurance that such estimates and assumptions will show to be appropriate. The forward-looking statements contained on this information launch are made as of the date of this information launch, and the Firm expressly disclaims any obligation to replace or alter statements containing any forward-looking data, or the components or assumptions underlying them, whether or not because of new data, future occasions or in any other case, besides as required by legislation.

Firm Contact
Robert Beasley, CEO
traders.getfluent.com

Investor Relations Contact
Sean Mansouri, CFA
Elevate IR
(720) 330-2829
traders@cansortiuminc.com

Cision

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SOURCE Cansortium Inc



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