{"success":true,"data":{"pressRelease":{"id":"17608","rtpr_id":"nGNX4PJ4gv","ticker":"FNTU","exchange":"","all_tickers":["FNTU"],"title":"FLUENT Enters into Definitive Agreement to sell Texas Business","author":"Globe Newswire","published_at":"2026-05-01T20:50:00.099Z","article_body":"TAMPA, Fla., May 01, 2026 (GLOBE NEWSWIRE) -- FLUENT Corp. (CSE: FNT.U)\n(OTCQB: CNTMF) (“FLUENT” or the “Company”), a vertically-integrated,\nmulti-state cannabis company, today announced that it has entered into a\ndefinitive agreement (the “Purchase Agreement”) with Legacy Therapeutics,\nLLC (“Legacy”), pursuant to which Legacy will acquire 100% of the issued\nand outstanding equity interests in Cansortium Texas, LLC (“Cansortium\nTexas”), a subsidiary of the Company (the “Transaction”). The\nTransaction contemplates the sale of the Company’s Texas business\noperations, which includes Cansortium Texas’s license, cultivation,\nmanufacturing, and delivery business in Schulenburg, Texas, as well as its\nHouston retail operations.\n\nPursuant to the terms of the Purchase Agreement, which was signed May 1, 2026,\nthe purchase price payable by Legacy is equal to $30 Million, of which $25M\nwill be payable at closing and an amount equal to $2.5M will be payable on\neach of the first and second anniversary of the closing date. The Transaction\nis subject to applicable regulatory approvals and the satisfaction of certain\nother customary closing conditions. The Company intends to primarily use the\nproceeds from the Transaction to repay a portion of its existing senior\nsecured debt, and may also use the remaining proceeds for working capital and\ngeneral corporate purposes.\n\nManagement Commentary\n\nDavid E. Vautrin, Interim Chief Executive Officer of FLUENT, said, “We are\nexcited to see how Legacy, under Randy’s leadership, will leverage its deep\npharmaceutical expertise and strong operational discipline to drive growth in\nthe cannabis sector and expand the Texas market from our established base.”\n\nRandy J. Mire, Pharm.D, Founder of Legacy Therapeutics, said, “As the first\npharmacist in the south to dispense medical marijuana, my focus has always\nbeen patient access and outcomes. We are honored to build on the platform\nFLUENT has established for Texas Compassionate Use patients.”\n\nLegal Advisors\n\nGoodwin Procter LLP is acting as United States legal counsel and Cassels Brock\n& Blackwell LLP is acting as Canadian legal counsel to FLUENT. Phelps Dunbar\nLLP is acting as legal counsel to Legacy.\n\nAbout Fluent Corp.\n\nFLUENT, a national cannabis consumer packaged goods company and retailer, is\ndedicated to being one of the highest quality cannabis companies for the\ncommunities it serves. This is driven by FLUENT's unrelenting commitment to\noperational excellence in cultivation, production, distribution, and retail\nexperience. FLUENT produces an assortment of cannabis products under a diverse\nportfolio of brands including MOODS, Knack, Wandr, Bag-O and Hyer Kind. FLUENT\noperates in Florida, New York, and Texas. Headquartered in Tampa, Florida,\nFLUENT employs approximately 650 employees across 7 cultivation and\nmanufacturing facilities, 35 active retail locations and a wholesale division\nwhich trades under ENTOURAGE servicing third party retailers in New York. For\nmore information on the Company’s wholesale division ENTOURAGE, please visit\nhttps://entouragewholesale.com/.\n\nFLUENT common shares trade on the Canadian Securities Exchange under the\nsymbol “FNT.U” and on the OTCQB Venture Market under the symbol\n“CNTMF”. For more information about the Company, please visit\nwww.getFLUENT.com.\n\nForward-Looking Information\n\nCertain information in this news release may constitute “forward-looking\ninformation” within the meaning of applicable securities laws. In some\ncases, but not necessarily in all cases, forward-looking information can be\nidentified by the use of forward-looking terminology such as “plans”,\n“targets”, “expects” or “does not expect”, “is expected”,\n“an opportunity exists”, “is positioned”, “estimates”,\n“intends”, “assumes”, “anticipates” or “does not anticipate”\nor “believes”, or variations of such words and phrases or state that\ncertain actions, events or results “may”, “could”, “would”,\n“might”, “will” or “will be taken”, “occur” or “be\nachieved” or similar expressions and includes, but is not limited to,\nstatements with respect to the timing and outcome of the Transaction and the\nanticipated benefits thereof, the satisfaction or waiver of the closing\nconditions set out in the Purchase Agreement; expectations regarding the use\nof proceeds from the Transaction; and expectations for other economic,\nbusiness, and/or competitive factors. In addition, any statements that refer\nto expectations, projections, or other characterizations of future events or\ncircumstances contain forward-looking information. Statements containing\nforward-looking information are not historical facts but instead represent the\nCompany’s expectations, estimates, and projections regarding future events,\nplans or objectives, many of which, by their nature, are inherently uncertain\nand outside of the Company's control.\n\nInvestors are cautioned that forward-looking information is necessarily based\non many opinions, assumptions, and estimates that, while considered reasonable\nby the Company as of the date of this news release, are subject to known and\nunknown risks, uncertainties, assumptions, and other factors that may cause\nthe actual results, level of activity, performance or achievements to be\nmaterially different from those expressed or implied by such forward-looking\ninformation. Among the key factors that could cause actual results to differ\nmaterially from those projected in the forward-looking information are the\nfollowing: the ability of the parties to receive the necessary regulatory\napprovals; the ability of the parties to satisfy the other conditions to the\ncompletion of the Transaction; risks related to additional financing; risks\nrelating to the Company’s debt obligations and the ability to make payments\non existing indebtedness; risks related to the ability to access private and\npublic capital; stock market volatility; the availability of financing;\nchanges in the business activities, focus and plans of the Company and the\ntiming associated therewith; the timing of any changes to federal laws in the\nU.S. to allow for the general cultivation, distribution, and possession of\ncannabis; regulatory and licensing risks; changes in cannabis industry growth\nand trends; changes in general economic, business and political conditions,\nincluding changes in the financial markets; the global regulatory landscape\nand enforcement related to cannabis, including political risks and risks\nrelating to regulatory change; risks relating to anti-money laundering laws;\ncompliance with extensive government regulation, including the Company’s\ninterpretation of such regulation; public opinion and perception of the\ncannabis industry; and the risk factors described in the public filings of the\nCompany filed with Canadian securities regulators and available under the\nCompany’s profile at www.sedarplus.ca.\n\nIn respect of the forward-looking statements and information concerning the\nanticipated benefits and completion of the Transaction and the anticipated\ntiming for completion of the Transaction, the Company has provided such\nstatements and information in reliance on certain assumptions that it believes\nare reasonable at this time. Although the Company believes that the\nassumptions and factors used in preparing the forward-looking information in\nthis news release are reasonable, undue reliance should not be placed on such\ninformation and no assurance can be given that such events will occur in the\ndisclosed time frames or at all. Should one or more of these risks or\nuncertainties materialize, or should assumptions underlying the\nforward-looking information prove incorrect, actual results may vary\nmaterially from those described herein as intended, planned, anticipated,\nbelieved, estimated or expected. Although the Company has attempted to\nidentify important risks, uncertainties and factors that could cause actual\nresults to differ materially, there may be others that cause results not to be\nas anticipated, estimated or intended. The Company does not intend, and does\nnot assume any obligation, to update this forward-looking information except\nas otherwise required by applicable law.\n\nThe Company, through several of its subsidiaries, is directly involved in the\nmanufacture, possession, use, sale, and distribution of cannabis in the\nadult-use and medical cannabis marketplace in the United States. Local state\nlaws where the Company operates permit such activities however, investors\nshould note that there are significant legal restrictions and regulations that\ngovern the cannabis industry in the United States under federal laws in the\nUnited States. Cannabis remains a scheduled drug under the United States\nControlled Substances Act and, subject to certain exceptions in relation to\nmedical cannabis, illegal under federal law in the United States to, among\nother things, cultivate, distribute, or possess cannabis in the United States.\nFinancial transactions involving proceeds generated by, or intended to\npromote, cannabis-related business activities in the United States may form\nthe basis for prosecution under applicable United States federal money\nlaundering legislation.\n\nWhile the approach to enforcement of such laws by the federal government in\nthe United States has trended toward non-enforcement against individuals and\nbusinesses that comply with adult-use and medical cannabis programs in states\nwhere such programs are legal, strict compliance with state laws with respect\nto cannabis will neither absolve the Company of liability under United States\nfederal law, nor will it provide a defense to any federal proceeding which may\nbe brought against the Company. The enforcement of federal laws in the United\nStates is a significant risk to the business of the Company and any\nproceedings brought against the Company thereunder may adversely affect their\nrespective operations and financial performance.\n\nThe forward-looking statements contained in this news release are made as of\nthe date of this news release, and the Company expressly disclaims any\nobligation to update or alter statements containing any forward-looking\ninformation, or the factors or assumptions underlying them, whether as a\nresult of new information, future events or otherwise, except as required by\napplicable law. For further information visit: https://getFLUENT.com/ and\nhttps://investors.getFLUENT.com/.\n\nInvestor Relations Contact:\n\ninvestors@getFLUENT.com\n\nMedia Contact:\n\npress@getFLUENT.com\n\nOfficer Contact:\n\nMatt Mundy, Chief Legal Officer\n\n(850) 972-8077\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/edaef5e5-70b0-450c-b0a6-967f870ac11c)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNX4PJ4gv","title":"FLUENT Enters into Definitive Agreement to sell Texas Business","author":"Globe Newswire","ticker":"FNTU","created":"2026-05-01T20:50:00.099Z","tickers":["FNTU"],"exchange":"","article_body":"TAMPA, Fla., May 01, 2026 (GLOBE NEWSWIRE) -- FLUENT Corp. (CSE: FNT.U)\n(OTCQB: CNTMF) (“FLUENT” or the “Company”), a vertically-integrated,\nmulti-state cannabis company, today announced that it has entered into a\ndefinitive agreement (the “Purchase Agreement”) with Legacy Therapeutics,\nLLC (“Legacy”), pursuant to which Legacy will acquire 100% of the issued\nand outstanding equity interests in Cansortium Texas, LLC (“Cansortium\nTexas”), a subsidiary of the Company (the “Transaction”). The\nTransaction contemplates the sale of the Company’s Texas business\noperations, which includes Cansortium Texas’s license, cultivation,\nmanufacturing, and delivery business in Schulenburg, Texas, as well as its\nHouston retail operations.\n\nPursuant to the terms of the Purchase Agreement, which was signed May 1, 2026,\nthe purchase price payable by Legacy is equal to $30 Million, of which $25M\nwill be payable at closing and an amount equal to $2.5M will be payable on\neach of the first and second anniversary of the closing date. The Transaction\nis subject to applicable regulatory approvals and the satisfaction of certain\nother customary closing conditions. The Company intends to primarily use the\nproceeds from the Transaction to repay a portion of its existing senior\nsecured debt, and may also use the remaining proceeds for working capital and\ngeneral corporate purposes.\n\nManagement Commentary\n\nDavid E. Vautrin, Interim Chief Executive Officer of FLUENT, said, “We are\nexcited to see how Legacy, under Randy’s leadership, will leverage its deep\npharmaceutical expertise and strong operational discipline to drive growth in\nthe cannabis sector and expand the Texas market from our established base.”\n\nRandy J. Mire, Pharm.D, Founder of Legacy Therapeutics, said, “As the first\npharmacist in the south to dispense medical marijuana, my focus has always\nbeen patient access and outcomes. We are honored to build on the platform\nFLUENT has established for Texas Compassionate Use patients.”\n\nLegal Advisors\n\nGoodwin Procter LLP is acting as United States legal counsel and Cassels Brock\n& Blackwell LLP is acting as Canadian legal counsel to FLUENT. Phelps Dunbar\nLLP is acting as legal counsel to Legacy.\n\nAbout Fluent Corp.\n\nFLUENT, a national cannabis consumer packaged goods company and retailer, is\ndedicated to being one of the highest quality cannabis companies for the\ncommunities it serves. This is driven by FLUENT's unrelenting commitment to\noperational excellence in cultivation, production, distribution, and retail\nexperience. FLUENT produces an assortment of cannabis products under a diverse\nportfolio of brands including MOODS, Knack, Wandr, Bag-O and Hyer Kind. FLUENT\noperates in Florida, New York, and Texas. Headquartered in Tampa, Florida,\nFLUENT employs approximately 650 employees across 7 cultivation and\nmanufacturing facilities, 35 active retail locations and a wholesale division\nwhich trades under ENTOURAGE servicing third party retailers in New York. For\nmore information on the Company’s wholesale division ENTOURAGE, please visit\nhttps://entouragewholesale.com/.\n\nFLUENT common shares trade on the Canadian Securities Exchange under the\nsymbol “FNT.U” and on the OTCQB Venture Market under the symbol\n“CNTMF”. For more information about the Company, please visit\nwww.getFLUENT.com.\n\nForward-Looking Information\n\nCertain information in this news release may constitute “forward-looking\ninformation” within the meaning of applicable securities laws. In some\ncases, but not necessarily in all cases, forward-looking information can be\nidentified by the use of forward-looking terminology such as “plans”,\n“targets”, “expects” or “does not expect”, “is expected”,\n“an opportunity exists”, “is positioned”, “estimates”,\n“intends”, “assumes”, “anticipates” or “does not anticipate”\nor “believes”, or variations of such words and phrases or state that\ncertain actions, events or results “may”, “could”, “would”,\n“might”, “will” or “will be taken”, “occur” or “be\nachieved” or similar expressions and includes, but is not limited to,\nstatements with respect to the timing and outcome of the Transaction and the\nanticipated benefits thereof, the satisfaction or waiver of the closing\nconditions set out in the Purchase Agreement; expectations regarding the use\nof proceeds from the Transaction; and expectations for other economic,\nbusiness, and/or competitive factors. In addition, any statements that refer\nto expectations, projections, or other characterizations of future events or\ncircumstances contain forward-looking information. Statements containing\nforward-looking information are not historical facts but instead represent the\nCompany’s expectations, estimates, and projections regarding future events,\nplans or objectives, many of which, by their nature, are inherently uncertain\nand outside of the Company's control.\n\nInvestors are cautioned that forward-looking information is necessarily based\non many opinions, assumptions, and estimates that, while considered reasonable\nby the Company as of the date of this news release, are subject to known and\nunknown risks, uncertainties, assumptions, and other factors that may cause\nthe actual results, level of activity, performance or achievements to be\nmaterially different from those expressed or implied by such forward-looking\ninformation. Among the key factors that could cause actual results to differ\nmaterially from those projected in the forward-looking information are the\nfollowing: the ability of the parties to receive the necessary regulatory\napprovals; the ability of the parties to satisfy the other conditions to the\ncompletion of the Transaction; risks related to additional financing; risks\nrelating to the Company’s debt obligations and the ability to make payments\non existing indebtedness; risks related to the ability to access private and\npublic capital; stock market volatility; the availability of financing;\nchanges in the business activities, focus and plans of the Company and the\ntiming associated therewith; the timing of any changes to federal laws in the\nU.S. to allow for the general cultivation, distribution, and possession of\ncannabis; regulatory and licensing risks; changes in cannabis industry growth\nand trends; changes in general economic, business and political conditions,\nincluding changes in the financial markets; the global regulatory landscape\nand enforcement related to cannabis, including political risks and risks\nrelating to regulatory change; risks relating to anti-money laundering laws;\ncompliance with extensive government regulation, including the Company’s\ninterpretation of such regulation; public opinion and perception of the\ncannabis industry; and the risk factors described in the public filings of the\nCompany filed with Canadian securities regulators and available under the\nCompany’s profile at www.sedarplus.ca.\n\nIn respect of the forward-looking statements and information concerning the\nanticipated benefits and completion of the Transaction and the anticipated\ntiming for completion of the Transaction, the Company has provided such\nstatements and information in reliance on certain assumptions that it believes\nare reasonable at this time. Although the Company believes that the\nassumptions and factors used in preparing the forward-looking information in\nthis news release are reasonable, undue reliance should not be placed on such\ninformation and no assurance can be given that such events will occur in the\ndisclosed time frames or at all. Should one or more of these risks or\nuncertainties materialize, or should assumptions underlying the\nforward-looking information prove incorrect, actual results may vary\nmaterially from those described herein as intended, planned, anticipated,\nbelieved, estimated or expected. Although the Company has attempted to\nidentify important risks, uncertainties and factors that could cause actual\nresults to differ materially, there may be others that cause results not to be\nas anticipated, estimated or intended. The Company does not intend, and does\nnot assume any obligation, to update this forward-looking information except\nas otherwise required by applicable law.\n\nThe Company, through several of its subsidiaries, is directly involved in the\nmanufacture, possession, use, sale, and distribution of cannabis in the\nadult-use and medical cannabis marketplace in the United States. Local state\nlaws where the Company operates permit such activities however, investors\nshould note that there are significant legal restrictions and regulations that\ngovern the cannabis industry in the United States under federal laws in the\nUnited States. Cannabis remains a scheduled drug under the United States\nControlled Substances Act and, subject to certain exceptions in relation to\nmedical cannabis, illegal under federal law in the United States to, among\nother things, cultivate, distribute, or possess cannabis in the United States.\nFinancial transactions involving proceeds generated by, or intended to\npromote, cannabis-related business activities in the United States may form\nthe basis for prosecution under applicable United States federal money\nlaundering legislation.\n\nWhile the approach to enforcement of such laws by the federal government in\nthe United States has trended toward non-enforcement against individuals and\nbusinesses that comply with adult-use and medical cannabis programs in states\nwhere such programs are legal, strict compliance with state laws with respect\nto cannabis will neither absolve the Company of liability under United States\nfederal law, nor will it provide a defense to any federal proceeding which may\nbe brought against the Company. The enforcement of federal laws in the United\nStates is a significant risk to the business of the Company and any\nproceedings brought against the Company thereunder may adversely affect their\nrespective operations and financial performance.\n\nThe forward-looking statements contained in this news release are made as of\nthe date of this news release, and the Company expressly disclaims any\nobligation to update or alter statements containing any forward-looking\ninformation, or the factors or assumptions underlying them, whether as a\nresult of new information, future events or otherwise, except as required by\napplicable law. For further information visit: https://getFLUENT.com/ and\nhttps://investors.getFLUENT.com/.\n\nInvestor Relations Contact:\n\ninvestors@getFLUENT.com\n\nMedia Contact:\n\npress@getFLUENT.com\n\nOfficer Contact:\n\nMatt Mundy, Chief Legal Officer\n\n(850) 972-8077\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/edaef5e5-70b0-450c-b0a6-967f870ac11c)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-05-01T20:50:00.144981711Z","server_sent_at_ms":1777668600144},"received_at":"2026-05-01T20:50:00.199Z","source_url":null},"analysis":null,"durationMs":null,"modelName":null}}