CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), a
leading data-driven company focused on bringing real-world evidence
driven from the point-of-care to the medical cannabis community,
has announced the date of its first Annual General Meeting (AGM)
and Special Meeting of Shareholders on June 27, 2019 at 10am EST at
its head office at 5045 Orbitor Drive, Mississauga, ON.
Corporate Strategic Update
The AGM will provide an opportunity for CB2 Insights to present
its shareholders, in-person, the latest updates and future growth
opportunities aligned with its mission to be the largest aggregator
and provider of Real World Data and Evidence (“RWD” and “RWE”)
related to the safety, efficacy and effectiveness of medical
cannabis and cannabis derived medications.
Following a transformative year in 2018 and year-over-year and
sequential growth in the first quarter of 2019, both organically
and through M&A activity, the Company continues its effort to
drive towards profitability. The Company operates an already
profitable clinical business model, which generated over 15%
positive EBITDA in Q1 2019, with these additional cash flows being
reinvested into the technology and data insights divisions. The
Company has made significant improvements in its overall EBIDTA
results and will continue to drive towards achieving a profitable
consolidated business model.
The Company is uniquely positioned to capture value today as the
largest clinical network in the US serving over 85,000 patients
annually with a variety of health indications leveraging medical
cannabis therapy as well as now looking to expand internationally
to capture new opportunities to increase its global patient
registry. Its position as a healthcare focused operation alleviates
concerns and challenges faced by a volatile cannabis industry with
the vast majority of regulations and subsequent restrictions placed
on companies that directly touch or service the plant itself.
The Company has already begun its alignment with global leaders
in the phytopharmaceutical industry and with international clinical
providers to expand its patient registry and data monetization
opportunities. The Company anticipates it will achieve new
revenues streams from its data assets by the end of 2019. Its
strong clinical network has enabled the Company to develop new
data-specific revenue channels from pharmaceutical and
phytopharmaceutical companies seeking to develop clinical trials
for both prospective and retrospective studies. These studies have
since lead to the ability for manufacturers to better understand
opportunities for developing safety and efficacy claims used in the
registration process with regulators and insurance providers to
support deeper product commercialization strategies. These new
developments have validated the Company’s strategy to harness its
network of patients and physicians thereby creating a vehicle for
participation in clinical trials using necessary protocols and
informed patient consent while enabling new revenue streams to
complement the Company’s already profitable clinical business
model.
“We continue our move to become the leading independent provider
of clinical research and the industry’s premier data insights
platform for clinically-led Real World Evidence studies,” said Prad
Sekar, CEO, CB2 Insights. “Today pharmaceutical and
phytopharmaceutical companies spend hundreds of millions of dollars
on clinical trials and data to support their R&D and product
commercialization efforts. We believe we are very well
positioned to be a valuable and trusted source of data to support
these efforts. We have been fortunate and appreciate the support of
some of the largest institutional investors in the cannabis
industry who are allowing us to grow aggressively and scale our
business to profitability.”
The Company has been backed by leading institutional funds in
the cannabis industry, including but not limited to, Merida
Capital, Phyto Partners, Arcadian Fund, Cannabis Growth and
Opportunity Corp and Quinsam Capital. Merida Capital, who
previously led the Company’s go-public round with $3.7 million of
the total $5.7 million capital raised, recently upsized their
position in their promissory note to the Company in support of the
Company’s continued drive to profitability and strategic growth
opportunities that exist in the near-term. Merida has agreed
to increase principal amount of the original promissory note from
US$2,400,000, to US$3,000,000 and to extend the term of the note
from June 2020 to December 2020. In addition, interest rate
payable under the note has decreased from 15% to 12% per annum and
will be payable in shares of Company based on a discounted
rate. Interest accrued to June 6, 2019 will be paid with the
issuance of 1,219,520 shares, subject to approval of the CSE. In
addition, Merida has agreed to exchange the amended promissory note
for a convertible debenture when the Company’s shares trade at or
above $0.50, subject to CSE approval.
The Company looks forward to hosting shareholders at the
upcoming Annual General Meeting of Shareholders. Any
presentation slides or other material containing any otherwise
information not previously disclosed will be posted to the
Company’s website at the close of the meeting.
About CB2 Insights
CB2 Insights has a mission to mainstream medical cannabis into
traditional healthcare. We do so by gathering data and
creating objective real-world evidence through our proprietary
software and service brands. Using clinical management and
data collection software at the point-of-care, CB2 Insights and its
group of sub-brands has become a leading force behind bringing
traditional healthcare protocols to the rapidly evolving global
cannabis industry.
For more information please visit www.cb2insights.com.
Primary Contact:Dan ThompsonChief Marketing
Officer – CB2 Insights1.416.670.9316
For Investor Inquiries:Sean
Peasgood1.647.362.8286investors@cb2insights.com
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 opportunity to provide services and
software to the U.S. cannabis industry.
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.
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