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CBII - CB2 Insights Inc News Story

C$0.53 -0.0  -3.6%

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Micro Cap
Market Cap £31.4m
Enterprise Value £31.9m
Revenue £8.07m
Position in Universe 905th / 2690

CB2 Insights Announces $3,000,000 Private Placement Led by Merida Capital

Thu 3rd September, 2020 12:30pm
CB2 Insights Announces $3,000,000 Private Placement Led by Merida Capital

TORONTO, Sept. 03, 2020 (GLOBE NEWSWIRE) -- CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), one of the largest integrative healthcare systems in the United States, is pleased to announce that it intends to complete a non-brokered private placement of up to 20,000,000 units ("Unit") of the Company at a price of $0.15 per Unit for aggregate gross proceeds of up to CAD $3,000,000 (the “Offering”). Each Unit will consist of one common share ("Common Share") in the capital of the Company and one half of one Common Share purchase warrant (each whole warrant a "Warrant").  Each Warrant is exercisable to acquire one additional Common Share at an exercise price of $0.20 for a period of twenty-four (24) months following the closing date of the Offering. 

The Company is also pleased to announce that it has received a definitive lead order in the amount of CAD $2,000,000 from Merida Capital Partners and Affiliates (“Merida”). Merida is a cornerstone investor in the Company and continues to demonstrate strong support of the Company.

The Offering is expected to close on or about September 23, 2020 or such other date as may be determined by the Company.

The net proceeds of the Offering will be used by the Company for general corporate purposes and in accordance with its three-pronged growth plan which include growth through current services, new services and potential acquisitions.

The Company may pay certain eligible (a “Finder”) parties a cash commission (“Finder’s Fee”) equal to 8% of the gross proceeds of the Offering and finders warrants equal to 8% of the number of units issued pursuant to the Offering in respect of the Units sold to purchasers introduced to the Company by such Finder. There will be no Finder’s Fee payable on the Merida Investment.

All securities issued in connection with the Offering will be subject to a statutory hold period of four months and one day from the date of issuance in accordance with applicable securities laws. The Offering is subject to receipt of all necessary corporate and regulatory approvals, including the approval of the Canadian Securities Exchange.

About CB2 Insights

CB2 Insights (CSE:CBII OTCQB:CBIIF) is a healthcare services and technology company, working to positively impact patient health outcomes. With a mission to mainstream alternative health treatments into traditional healthcare by recognizing the need for patient treatment diversity, and the impacts of integrating alternative and conventional medicine. The Company works primarily to roster and treat patients seeking alternative treatments due to the ineffectiveness of conventional medicine, and the inability to find support through their existing care network, or in some cases, inability to access a primary care network. Medical services offered by the Company are defined as Integrative medicine, where we work to understand the real world evidence for the safety, impact and effectiveness of medical treatments including plant based medicines that often lack sufficient research and therefore adoption by conventional healthcare providers.

To support patient care and positive health outcomes, the Company is also focused on advancing safety and efficacy research surrounding alternative health treatments by monitoring and assessing Real-World Data (RWD) and providing Real-World Evidence (RWE) through our proprietary technology, data analytics, and a full service contract research organization.

The Company’s primary operations are in the United States, with application to its insights, technology and research services deployed in other International markets including Canada, United Kingdom and Colombia.

The Company’s disciplined operating model allows patients to receive access to care in a time efficient and cost-effective manner. Utilizing virtual telehealth and over 30 physical brick and mortar clinics, the Company currently treats over 100,000 patients across 12 States. Utilizing proprietary technology and data analytic platforms, the Company is able to monitor, study and assess a variety of healthcare treatments and products for the safety, efficacy and effectiveness. The Company believes it is well positioned to be the research and technology partner of choice for multiple stakeholders including Big Pharma, Life Sciences, Regulatory Bodies and Payors within the traditional and integrative medical industry.

Forward Looking Statements

Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.

Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth.

Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.

There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.

Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.

No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

For more information please visit www.cb2insights.com or contact:

Investor Relations
Jonathan L. Robinson
Oak Hill Financial

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