CB2 Insights (OTCQB: CBIIF) announced that it plans to complete a non-brokered private placement of up to 20,000,000 units of the company at a price of $0.15 per Unit for aggregate gross proceeds of up to C$3 million. The Offering is expected to close on or about September 23, 2020. The net proceeds will be used for general corporate purposes and in accordance with its three-pronged growth plan which includes growth through current services, new services, and potential acquisitions.
CB2 said that it has received a definitive lead order in the amount of C$2 million from Merida Capital Partners. Merida is a cornerstone investor in the company and continues to demonstrate strong support for the company.
CB2 Insights is a healthcare services and technology company that 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. The medical services offered by CB2 are defined as Integrative medicine, where it works 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.
Its primary operations are in the United States, with application to its insights, technology, and research services deployed in other international markets including Canada, the United Kingdom, and Colombia. 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.
Each Unit will consist of one common share in the capital of the Company and one half of one Common Share purchase 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.