Cansortium Inc. (CSE:TIUM) (OTCQB:CNTMF) has secured some $12 million in financing through a sale of roughly 17.14 million of its units at 70 cents per unit. The Miami company expects to close the private placement over the next few days. The financing will boost its operations in Florida, which includes two cultivation facilities and 24 retail dispensaries, with additional three stores poised to open soon.

One of Hammill’s favourites in the US is Florida-based medical cannabis company Cansortium, which along with the vertically integrated operations in the Sunshine State has business in Pennsylvania, Michigan and Texas. Cansortium has narrowed its focus over the past year, selling off assets in Puerto Rico and Canada and turning its eye to strengthening its business in the still-growing Florida medical market where the company has 24 dispensaries under its Fluent brand.

The Company’s newest dispensary is located in Coral Gables at 5827 SW 40th St, Miami, FL, 33155, just off the Palmetto Highway and down Bird Road. Coral Gables’ latest dispensary makes it Fluent’s third location in Miami-Dade County, after Cutler Bay and North Miami Beach.

Cansortium is a fast-growing Florida-focused cannabis company with assets in three other states. While Cansortium hasn’t received much attention from investors compared to other MSOs and has faced balance sheet issues that led to debt restructuring, its Florida operation is likely a highly coveted asset for acquirers looking to enter the market.

With 24 dispensary locations in Florida, one in Pennsylvania, and new locations opening in both states later this year, Fluent Cannabis is a growing company. But reward certainly didn’t come without risk to get to where it is today.