Q4 Revenue up 54% to $14.7 Million; Q4 Adjusted EBITDA up Significantly to $3.3 Million
Significant Momentum Carrying Through 2021 with Record Florida Revenue in April Driven by Successful Launch Of New Sweetwater Cultivation Facility
Company Expects Robust Revenue and Adjusted EBITDA Growth in 2021
Management to Host Conference Call Tomorrow at 5:00 P.M. Eastern Time
MIAMI, May 3, 2021 /CNW/ – 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.
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.
“Our strong fourth quarter results reflect the many improvements we have made across the organization, and that momentum has carried into 2021,” said Chief Executive Officer Robert Beasley. “The success of our recent debt and equity raise provides the capital required to fund our expansion in Florida and Pennsylvania. In April, we achieved record monthly sales