Cansortium Inc. (“Cansortium” or the “Company”) (CSE: TIUM.U), (OTCQB: CNTMF), a vertically-integrated cannabis company operating under the Fluent™ brand, today announced that it has exercised its right to redeem up to the maximum of US$5 million of the convertible promissory notes (the “Notes”) that were initially issued in the aggregate principal amount of US$10 million in February 2019 (as amended in August 2020 and February 2021). As a result of this redemption, the aggregate principal amount that remains outstanding on the Notes is US$5 million. The remaining Notes mature on December 1, 2022 if not earlier converted at the conversion price of US$0.60 per share.
“The reduction of this debt is continued improvement of our balance sheet, and we look forward to the our partnership with these noteholders as we grow the Company” said Cansortium CEO Robert Beasley.
