Cansortium Announces Resignation of Chief Financial Officer Patricia Fonseca

MIAMI, Oct. 11, 2022 /PRNewswire/ - Cansortium Inc. TIUM CNTMF ("Cansortium" or the "Company"), a vertically-integrated cannabis company operating under the Fluent™ brand, today announced that Patricia Fonseca has tendered her resignation as Chief Financial Officer (CFO) of the Company, effective November 21, 2022. Patricia, who joined Cansortium in March 2021, will work with the Company over the next month to ensure an orderly transition. The Company has retained a leading executive search firm to find its next CFO.

"On behalf of the entire Company, I would like to sincerely thank Patricia for her dedication and contribution to the business," said Chief Executive Officer Robert Beasley. "She has been a key contributor to our leadership team and was instrumental in promoting financial discipline within the Company and providing strategic support to the Company's operational growth. We wish her the best in the next phase of her career."

"It's been a privilege to have been a part of Cansortium's turnaround over the past couple of years," said Patricia Fonseca. "I am proud of the work we accomplished and believe the company is well-positioned to continue driving growth and profitability. I look forward to watching Cansortium's leadership and success in the years to come."

Cansortium is a vertically-integrated cannabis company with licenses and operations in Florida, Pennsylvania and Texas. The Company operates under the Fluent™ brand and is dedicated to being one of the highest quality cannabis companies for the communities it serves. This is driven by Cansortium's unrelenting commitment to operational excellence in cultivation, production, distribution and retail. The Company is headquartered in Miami, Florida.

Cansortium Inc.'s common shares trade on the CSE under the symbol "TIUM.U" and on the OTCQX Best Market under the symbol "CNTMF". For more information about the Company, please visit www.getfluent.com.

Certain information in this news release may constitute forward-looking information within the meaning of applicable Canadian securities legislation and may also contain statements that may constitute "forward-looking statements" within the meaning of the safe harbor provisions of the United States Private Securities Litigation Reform Act of 1995. In some cases, but not necessarily in all cases, forward-looking information can be identified by the use of forward-looking terminology such as "plans", "targets", "expects" or "does not expect", "is expected", "an opportunity exists", "is positioned", "estimates", "intends", "assumes", "anticipates" or "does not anticipate" or "believes", or variations of such words and phrases or state that certain actions, events or results "may", "could", "would", "might", "will" or "will be taken", "occur" or "be achieved". In addition, any statements that refer to expectations, projections, or other characterizations of future events or circumstances contain forward-looking information. Statements containing forward-looking information are not historical facts but instead represent the Company's expectations, estimates, and projections regarding future events, plans or objectives, many of which, by their nature, are inherently uncertain and outside of the Company's control.

Forward-looking information is necessarily based on many opinions, assumptions, and estimates that, while considered reasonable by the Company as of the date of this news release, are subject to known and unknown risks, uncertainties, assumptions, and other factors that may cause the actual results, level of activity, performance or achievements to be materially different from those expressed or implied by such forward-looking information, including but not limited to the factors described in the public documents of the Company available at www.sedar.com. These factors are not intended to represent a complete list of the factors that could affect the Company; however, these factors should be considered carefully. There can be no assurance that such estimates and assumptions will prove to be correct. The forward-looking statements contained in this news release are made as of the date of this news release, and the Company expressly disclaims any obligation to update or alter statements containing any forward-looking information, or the factors or assumptions underlying them, whether as a result of new information, future events or otherwise, except as required by law.

For further information: www.getfluent.com.

Company Contact

Robert Beasley, CEO
(850) 972-8077
investors.getfluent.com

Investor Relations Contact

Sean Mansouri, CFA
Elevate IR
(720) 330-2829 
investors@cansortiuminc.com

SOURCE Cansortium Inc