FLUENT Sells Pennsylvania Unit to Cut Debt and Focus on Core Cannabis Markets

Cansortium ( ($TSE:FNT.U) ) has issued an announcement.

FLUENT Corp. has sold its Pennsylvania operations to HIVE Holdings, Inc. for US$12.5 million in cash, using the proceeds to reduce debt and strengthen its balance sheet. The divestiture is intended to sharpen the company’s strategic focus on its core growth markets and improve capital allocation at a time when U.S. cannabis regulation is evolving, positioning FLUENT to pursue scale and efficiency in its most attractive jurisdictions and signaling a commitment to long-term value creation for shareholders.

More about Cansortium

FLUENT Corp. is a U.S.-based cannabis consumer packaged goods company and retailer focused on cultivation, production, distribution and retail operations. Headquartered in Tampa, Florida, it markets a portfolio of brands including MOODS, Knack, Wandr, Bag-O and Hyer Kind, and operates across Florida, New York and Texas through eight cultivation and manufacturing facilities, 34 retail locations and a New York wholesale division trading as ENTOURAGE.

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