Cansortium Inc. (“Cansortium” or the “Company”) (CSE: TIUM.U), (OTCQB: CNTMF), a vertically-integrated provider of premium-quality medical cannabis operating under the Fluent™ brand, is issuing this release to clarify its understanding as of December 31, 2020 of the share ownership percentages previously announced by William Smith (including his affiliated entities, the “Smith Group”) on January 26, 2021. Specifically, the 1,421,538 proportionate voting shares, which were part of the January 2020 agreed to restructuring of the obligations owed to the Smith Group and were transferred to the Smith Group in December 2020 using shares from the Company’s founders, represent approximately 19% of the 7,411,183 proportionate voting shares outstanding at December 31, 2020.
In addition, the 13,412,622 common shares held by the Smith Group represent 11.8% of the outstanding common shares outstanding at December 31, 2020. On an as converted basis, the Smith Group’s proportionate voting shares and common shares represent 14.7% of the total issued and outstanding shares of the Company at December 31, 2020.
