Miami, Florida--(Newsfile Corp. - April 16, 2019) - Cansortium Inc. (CSE: TIUM.U) ("Cansortium" or the "Company"), one of Florida's largest medical marijuana companies, has expanded its Florida retail footprint with the April 15 opening of a Knox Medical dispensary in Casselberry, FL, its tenth medical marijuana dispensary in Florida, with twenty more in various stages of site selection and development.
The new Casselberry dispensary, located six miles northeast of central Orlando, augments the Company's current Orlando dispensary, making it easier for patients in the northern and eastern Orlando suburbs to obtain medical marijuana, whether in-store or through Knox's state-wide home delivery service. The Casselberry location also features a drive-thru to provide expedited service to existing and knowledgeable patients.
Cansortium chief executive officer Jose Hidalgo noted, "Cansortium has established a strong track record as a successful strategic first-mover in large markets with high barriers to entry. Our management team's extensive regulatory expertise enables us to navigate the steadily-evolving medical marijuana regulatory framework and we have consistently achieved the highest scores among all licensing applicants.
Our company controls one of only 14 operating licenses granted by Florida - the state with the fastest-growing medical marijuana patient population in the US - and we opened Orlando's first dispensary in 2017. We take a measured, strategic approach that sets us apart from our competitors by focusing on high product standards and patient needs. Each Knox Medical dispensary is designed to provide a welcoming, professional environment similar to a trusted neighborhood pharmacy. Each of our dispensaries is highly-visible, convenient to shop, and wheelchair-accessible. Their interiors are warm, professional, sleek and modern, with knowledgeable staff who can guide patients through the process of selecting the right products and who understand the importance of safeguarding patient privacy."
Mr. Hidalgo concluded, "In addition to our exciting progress in Florida, we continue to build our business platforms in Texas, Pennsylvania, Puerto Rico and Colombia, as well as secure foundational licensing in several other markets to support future growth."
Cansortium operates retail, cultivation, and processing facilities in Texas and Puerto Rico, as well as Colombia - the anticipated hub of the red hot emerging Latin American cannabis market. It also has retail operations in Pennsylvania. The Company recently expanded into Canada, the first federally-legalized recreational market in the world, and it is also expanding into Michigan, where license-holders are allowed an unlimited number of dispensaries. The Company is also pursuing strategic expansions into South America and the emerging European market - which are expected to eventually exceed the size of the US and Canadian markets combined.
Cansortium is a global medical cannabis company operating in highly populous medical cannabis markets with a mission to deliver the highest standards of cannabis care from nursery to lab to shelf. Headquartered in Miami, FL and operating under the Knox Medical brand, the Company through its subsidiaries operates cultivation, processing and dispensary facilities across Florida, Texas, Puerto Rico and Pennsylvania, with licensing pending in Michigan and Canada. The Company also has a licensed cultivation facility in Colombia.
Cansortium's common shares and warrants trade on the CSE under the symbol "TIUM.U" and "TIUM.WT.U" respectively.
For information on Cansortium, please visit www.cansortium.com.
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Executive Vice-President, Finance and Investor Relations
Certain information in this news release, may constitute forward-looking information. 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 management's expectations, estimates and projections regarding future events.
Forward-looking information is necessarily based on a number of 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.
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