04:34 PM EST, 11/29/2024 (MT Newswires) -- Cansortium (TIUM-U.CN) after close of trading Friday said its third-quarter revenue rose.

The U.S. cannabis company declined to release profit or loss figures, but said its sales rose to US$26.1 million from US$25.3 million.

"We completed the third quarter by delivering our 12th consecutive quarter of positive cash flow from operations as well as steady year over year revenue growth," said chief executive Robert Beasley. "Looking ahead, with our primary loan refinancing completed and our business combination with RIV Capital set to close by year end, our business is exceptionally well positioned heading into 2025."

The company's shares closed up $0.025 to $0.12 on the Canadian Securities Exchange.