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Cansortium Inc. TIUM CNTMF a vertically-integrated, multi-state cannabis company operating under the FLUENT brand, announced its financial and operating results Thursday for the first quarter ended March 31, 2024.
“We delivered another quarter of year-over-year revenue growth and positive cash flow generation during the first quarter as we continued to execute on our growth objectives,” CEO Robert Beasley said. “We are making the critical investments needed to lay the foundation for growth and support our future plans and remain excited about the opportunities ahead.”
The first quarter earnings announcement comes on the heels of the news that Cansortium opted to merge with RIV Capital Inc. CNPOF. The combined company will operate in Florida, New York, Texas and Pennsylvania, covering 25% of the U.S. population with eight cultivation and processing facilities and 42 retail dispensaries.
“Looking ahead, we are excited about the business combination with RIV Capital announced this morning, laying the groundwork for a presence in four of the five largest population states in the country upon closing,” Beasley said.
As yet another earnings reporting season wraps up it is important to understand what these figures mean for the future of the industry. Hear directly for top executives, investors and policymakers at the 19th Benzinga
