Cansortium Inc. Reports Third Quarter 2019 Financial Results; Revises Full Year 2019 Outlook

MIAMI, Nov. 29, 2019 /PRNewswire/ — Cansortium Inc. (CSE:TIUM.U) (OTCQB: CNTMF) (“Cansortium” or the “Company”), a vertically-integrated provider of premium-quality medical cannabis, today announced financial results of the third quarter and nine months ended September 30, 2019. The Company’s unaudited condensed interim consolidated financial statements and accompanying notes, 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 a link on the Investor Relations section of the Company’s website.

Selected Third Quarter 2019 Financial Highlights Versus Pro-Forma Third Quarter 2018 Results(1)

  • Consolidated revenue increased 151 percent to $7.4 million, compared with pro-forma revenues of $2.9 million for the third quarter of 2018
  • Consolidated net loss totaled $(11.3) million, or $(0.05) per diluted share, compared to pro-forma net loss of $(6.8) million, or $(0.05) per diluted share for the third quarter of 2018
  • Consolidated EBITDA(2) totaled $(4.5) million, compared to pro-forma EBITDA(2) of $(5.4) million for the third quarter of 2018
  • Consolidated Adjusted EBITDA(2) totaled $(2.7) million, compared to Adjusted pro-forma EBITDA(2) of $(4.3) million for the third quarter of 2018

    Selected Year-to-Date 2019 Financial Highlights Versus Year-to-Date 2018 Pro-Forma Results(1)

  • Consolidated revenue for the nine months ended

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