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Cansortium Closes $4.6M Placement, Taps Moxie For Florida Expansion

Cansortium Closes $4.6M Placement, Taps Moxie For Florida Expansion

Moxie, a vertically integrated cannabis company with operations in five states, announced last week signing a Management Services Agreement with Cansortium Inc. (CSE:TIUM.U) (OTC: CNTMF).

Per the deal, Moxie will provide management and operational consulting services for two years, bringing operational and product expertise to accelerate Cansortium's presence in Florida, where Cansortium has two cultivation facilities and 18 dispensaries under the Fluent brand.

Additionally, Cansortium completed a non-brokered private placement offering of approximately $4.6 million. The company plans to use the funds for strategic growth opportunities and general corporate purposes.

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“The Florida market represents an incredible opportunity for our team to bring the holistic Moxie experience to a vast medical cannabis patient base of over 300,000 people," Jordan Lams, CEO of Moxie, told Benzinga. "At the core of our values as a company is the need to provide a consistent supply of high-quality medicine to all patients and teaming up with Cansortium’s incredible footprint will provide a platform for us to do just that.  We are grateful and humbled by the opportunity and look forward to beginning the collaborative effort with the Cansortium team."

Photo by Javier Hasse.

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