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FLUENT CANNABIS FLUENT Reports Second Quarter 2026 Results Q2 2026 Revenue brought in $ 17.1M Ended quarter with $ 4.5 million of cash and cash equivalents New Interim CEO appointed TAMPA , Fla . , Aug. 21 , 2026 -- FLUENT Corp. ( CSE : FNT.U ) ( OTCQB : CNTMF ) ( " FLUENT " or the " Company " ) , a vertically- integrated , multi - state cannabis company , today announced its financial and operating results for the second quarter ended June 30 , 2026. Unless otherwise indicated , all financial results are presented in U.S. dollars . Management Commentary " As we move through the second half of the year , our priorities remain clear , ” said Matt Mundy , Interim CEO and Chief Legal Officer of the Company . " We are focused on completing the Vireo transaction while continuing to optimize our operational footprint , particularly in Florida , where we are seeing promising results from the actions taken to date . At the same time , we remain disciplined in managing the business , with a continued focus on reducing operating costs , improving efficiency , and strengthening the Company's financial position . " Q2 2026 Financial Highlights ( vs. Q2 2025 ) • Revenue from continuing operations was $ 17.1 million compared to $ 22.8 million . • Florida revenue was $ 12.8 million compared to $ 19.2 million . • Gross profit before fair value adjustments ' from continuing operations was $ 4.3 million or 25.2 % of revenue , compared to $ 8.9 million or 38.8 % of revenue . Adjusted EBITDA² was $ 0.3 million compared to $ 3.6 million . The decrease was primarily due to continued downward pressure on retail prices in Florida , resulting in a corresponding reduction in the fair value of biological assets . • Cash flow provided by operations was $ 0.8 million compared to $ 3.2 million . • On June 30 , 2026 , the Company had approximately $ 4.5 million of cash and cash equivalents and $ 79.7 million of total debt outstanding , with approximately 692 million shares outstanding on an as - converted basis , compared to $ 22.9 million of cash and cash equivalents and $ 78.1 million of total debt , with approximately 687 million shares outstanding on an as - converted basis on June 30 , 2025 . 1 Gross profit before fair value adjustments is a non - IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies . The Company calculates gross profit before fair value adjustments from gross profit plus ( minus ) the changes in fair value of biological assets , as presented in the consolidated statement of operations . 2 Adjusted EBITDA is a non - IFRS financial measure that does not have any standardized meaning prescribed by IFRS and may not be comparable to similar measures presented by other companies . The Company calculates Adjusted EBITDA as EBITDA ( being calculated as the net income ( loss ) , plus ( minus ) interest expense ( income ) and finance transactions costs , plus taxes , plus depreciation and amortization ) plus ( minus ) the changes in fair value of biological assets , plus ( minus ) the changes in fair market value of derivatives , plus ( minus ) certain one - time non - operating expenses , as determined by management . The Company's condensed interim consolidated financial statements as of June 30 , 2026 and for the three and six months ended June 30 , 2026 ( the " Interim Financial Statements " ) have been prepared assuming that the Company will continue as a going concern . As disclosed in the Interim Financial Statements , as of June 30 , 2026 , certain conditions indicate the existence of events and circumstances that may cast significant doubt on the Company's ability to continue as a going concern . The Company continues to pursue strategic initiatives intended to strengthen its liquidity position and support ongoing operations . These initiatives include ( i ) entering into the arrangement agreement with Vireo Growth Inc. ( " Vireo ” ) as previously disclosed by the Company on April 30 , 2026 , whereby , among other things , Vireo has agreed to acquire all of the issued and outstanding common shares of the Company ( after conversion of all ( a ) proportionate voting shares of the Company and ( b ) non - voting , non - participating exchangeable shares of the Company ) for subordinate voting shares of Vireo ( the " Vireo Shares " ) on the basis of 0.0705359 of a Vireo Share for each Company common share held ( the " Vireo Arrangement ” ) and ( ii ) entering into a definitive agreement with Legacy Therapeutics , LLC ( " Legacy " ) as previously disclosed by the Company on May 1 , 2026 , whereby , among other things , Legacy has agreed to acquire the Company's Texas operations for an aggregate purchase price equal to $ 30 million . While management believes these initiatives may provide a pathway to additional capital and improved liquidity , the completion of these transactions are subject to , among other things , satisfaction of all conditions to closing ( closing of the Vireo Arrangement has been approved by shareholders and the court , but remains subject to the receipt of other regulatory and third - party approvals ) and their success is subject to various conditions not wholly within the Company's control . The Company's focus on cost reductions continued throughout Q2 2026 , demonstrated by the closure of the Ruskin cultivation facility in Florida and continued efforts to optimize the Company's operations and retail footprint , while identifying