Cansortium Announces Closing of US$3 Million Private Placement
MIAMI – Cansortium Inc. (CSE: TIUM.U) (OTCQX: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated, multi-state cannabis company operating under the Fluent brand, is pleased to announce that on February 28, 2023 the Company closed a non-brokered private placement offering of 30,000,000 units of the Company (“Units”) at a price of US$0.10 per Unit for aggregate gross proceeds of US$3,000,000 (the “Offering”). Each Unit is comprised of one common share in the capital of the Company (a “Share”) and one-half of one common share purchase warrant (each whole warrant, a “Warrant”). Each Warrant will entitle the holder to purchase one Share at an exercise price of US$0.15 per Share for a period of 36 months following the closing date of the Offering. The Company will use the net proceeds of the Offering for general corporate and working capital purposes. All of the securities issuable in connection with the Offering are subject to a hold period expiring four mont...