+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%
+ 0.00
+ 0%

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

February 9, 2020 9:36 am
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More

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

Benzinga's Cannabis Capital Conference returns to Miami Feb. 24-25 with North America's largest B2B cannabis gathering, bringing together capital, cannabis executives, thought leaders and more!

“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.

  • Leer en Español: Cannabis Medicinal en EEUU: Florida

  • Related Articles

    4Front: $30M Sale-Leaseback Deal With Cannabis REIT Will Help Pay Gotham Green Debt

    4Front Ventures Corp. (CSE: FFNT) (OTCQX: FFNTF) is poised to secure some $30 million in financing through a partnership with Innovative Industrial Properties Inc. (NYSE: IIPR). read more

    Flow Cannabis CEO On Post-Election Policy Hopes, Strategy On Heels Of Caldera Launch

    Flow Cannabis Co. recently launched Caldera, a line of premium extracts, vape cartridges, oils, and concentrates defined by their purity, potency and flavor. read more

    Precision Extraction Solutions Is On The Hunt For Capital

    Precision Extraction Solutions is hoping to raise at least $10 million in venture capital.  That's according to the Troy, Michigan-based company's founder and CTO Nick Tennant. read more

    Organigram Invests In Hyasynth Biologicals, Parts Ways With Executives

    Organigram Holdings Inc. (NASDAQ: OGI) (TSX: OGI) has invested an additional $2.5 million in a private biotechnology company Hyasynth Biologicals Inc. read more

    Jushi Raises CA$35.5M Equity Offering

    Cannabis and hemp company Jushi Holdings Inc. (CSE: JUSH) (OTCQB: JUSHF) is poised to raise CA$35.5 million through an overnight marketed offering. read more