SEATTLE, April 02, 2019 (GLOBE NEWSWIRE) -- via NEWMEDIAWIRE -- CFN Media Group (“CFN Media”), the leading agency and financial media network dedicated to the North American cannabis industry, announces the publication of an article covering multi-state cannabis operator Cansortium. As a strategic first-mover in regulated markets with high barriers to entry, including Florida, Texas, Pennsylvania and Puerto Rico, Miami-based Cansortium (CSE: TIUM) aims to redefine the standard for the medical cannabis industry. The company is a cultivator, processor, formulator and premium retailer of medical cannabis, allowing Cansortium to control all aspects of its business and ensure the highest possible quality and consistency for its impressive and growing roster of patients. The company recently listed on the Canadian Securities Exchange under the symbol TIUM.
Vertical Integration
Cansortium’s cannabis is grown in a combination of state-of-the-art greenhouses designed to maximize efficiency and portable cultivation pods which offer modular scalability, using proprietary techniques that give it an advantage over competitors relying solely on legacy cultivation practices. Its cultivation operations and R&D are overseen by a world-renowned PhD agronomist experienced in indoor & outdoor cultivation techniques.
The company’s proprietary drying and terpene extraction machinery requires only six hours per complete cycle, as opposed to the six-day process required using conventional methods, while preserving terpenes and whole plant profiles. Cansortium employs state-of-the-art supercritical CO2 extraction process designed by a former NASA engineers, in order to maximize cannabinoid extraction without the use of solvents like alcohol or butane, and leverages its technology to maximize gross margins and output quality.
Cansortium is the parent company of Knox Medical, whose dispensaries are designed to stand apart, feeling more like pharmacies than the pot shops which have accompanied legalization, offering a sense of comfort and confidence to their customers. Each dispensary offers a premium retail experience and is strategically located in highly-visible, accessible locations with ample parking. Its website is filled with material to educate patients about medical marijuana treatment options and walk new users through the entire process; from obtaining cards to buying products, from capsules to vaporizer cartridges, which they can either purchase through one of its highly-rated dispensaries or directly through the site.
Current Operations
Cansortium owns one of 14 operating licenses in Florida, a state with the fastest growing medical cannabis patient population in the US. Nine Florida dispensaries are currently operating, with an additional 14 in active development and seven more planned. A GMP certified 31,000 sq ft greenhouse cultivation and 9,000 sq ft processing facility, located in Winter Garden, is currently in operation, with up to an additional 187,000 sq. ft of cultivation space being added in 2019. Cansortium’s successful Florida operations serve as a model for expansion into other key markets.
In Texas, a state with 29 million people, Cansortium wholly controls one of only three operating licenses granted so far, and was the first to receive a medical marijuana license from the state. It operates a 1300 sq ft cultivation and 650 sq ft processing facility, with state-wide delivery services, and the potential for an additional 400,000 sq. ft of cultivation space as demand increases.
Pennsylvania is the only US state to adopt a Clinical Registrant Program which allows for clinical research and full commercial activity. License holders under the Academic Clinical Research Center (ACRC) are to have cultivation, processing, and up to six dispensaries under one vertically integrated license. Cansortium is currently operating under a Dispensary License in Region 3 with one dispensary open already and two more set to open in 2019. The company intends to apply to become a Clinical Registrant, in partnership with Philadelphia College of Osteopathic Medicine (PCOM), for the ACRC program after an in depth selection process.
In Puerto Rico, Cansortium holds one cultivation license and one of only two home delivery licenses, as well as authorization to open four dispensaries. One dispensary is open already, with two more scheduled to open by the end of the year, and wholesale distribution to other licensed dispensaries has already commenced. The company operates a 2000 sq ft cultivation facility and 650 sq ft processing facility.
National & International Expansion Underway
Michigan currently has 300,000 registered medical marijuana patients, and an affiliate of Cansortium has received pre-application status for 12 Class C cultivation licenses and a processing license and is pending pre-qualification approval for a dispensary license, with three initial locations planned. Michigan regulations allow dispensary license holders to open an unlimited number of dispensary locations.
Cansortium is expanding into Canada, the largest federally-legal cannabis market, after receiving its cultivation license, which is expected to be issued in Q2 of 2019. It will initially operate a 20,300 sq ft cultivation space in Grimsby, located in the Niagara region of Ontario. Cansortium intends to complete an expansion at the same site to 100,200 sq ft of cultivation, with 10,000 sq ft of processing space.
The company received its license for cultivation, processing, R&D, domestic sales, and export of psychoactive and non-psychoactive cannabis products from the Colombian government in July of 2018, and is currently operating a 20,000 sq ft cultivation space with plans to expand to 86,000 sq ft and 16,000 sq ft for production & manufacturing. With high rates of cannabis use, a skilled agrarian workforce, cannabis industry-friendly regulations, cost-effective operating expenses, and ideal growing conditions, Colombia is set to become an important market on its own, as well as a key exporter of medical cannabis.
Looking Ahead
Cansortium features a technologically-advanced, seed to sale business platform and proven record of excellence in the medical cannabis space, along with regulatory expertise that is second to none and innovative, proprietary production methodologies that are both scalable and replicable. The company’s dispensaries offer consistency, comfort, and professional care to medical cannabis patients in key markets across the United States, while aggressively expanding its licensed operations into Canada and Colombia. Cansortium is definitely a company investors will want to watch.
Please follow the link to read the full article: https://www.cannabisfn.com/cansortium-multi-state-cannabis-operator-trading-on-cse/
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