FLUENT Corp (OTCPK:CNTMF)

Q3 2024 Cansortium Inc Earnings Call and Acquisition of RIV Capital Inc Transcript

Dec 19, 2024 / 09:00 PM GMT

Release Date Price: $0.07

Transcript

Key Points

Positve

Cansortium Inc (CNTMF) successfully completed its business combination with RIV Capital, expanding its footprint to 42 locations in New York and Florida.
The company achieved its 12th consecutive quarter of positive cash flow from operations and reported year-over-year revenue growth.
Integration activities from the RIV Capital transaction have already resulted in $2 million in annualized operating savings, with an additional $2 million in cost savings identified.
Cansortium Inc (CNTMF) plans to open four new stores in Florida in 2025 to support and expand its footprint.
The company secured a new senior secured credit agreement, providing access to $25 million in credit lines, supporting strategic growth plans with a strong balance sheet.

Negative

The failure of the Florida adult-use vote means the company must continue to operate in a competitive medical market without the anticipated expansion.
The Florida market is expected to experience price compression due to increased production and canopy space, which could impact margins.
Cansortium Inc (CNTMF) faces competition from illicit cannabis markets in New York, particularly in Manhattan, which could affect sales.
The company has underperformed in per-store sales compared to competitors, indicating room for improvement in sales techniques and product offerings.
The New York market is overserved with derivative products and underserved in high-quality flower, presenting challenges in meeting market demands.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

TIUMu.CD - Cansortium Inc
Q3 2024 Cansortium Inc Earnings Call and Acquisition of RIV Capital Inc
Dec 19, 2024 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good afternoon. Ladies and gentlemen and welcome to Consortiums corporate update in third quarter, 2024 conference call.

Joining us today is the company's CEO Robert Beasley and the company CFO Patricia Fonseca.

At this time, all participants are in listen-only mad after the company's prepared remarks, the management team will conduct a question and answer session to join the question two. You may press star then one on your telephone keypad.

If you need assistance during the conference, you may signal an operator by pressing star and zero as a reminder. This conference call is being recorded and will be available for replay in the investor section of the company's website at www

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