CB2 Insights Clarifies Terms of Agreement to Acquire MedEval LLC

CB2 Insights (“CB2” or the “Company”) (CSE:CBII), a leading provider of predictive analytics tools, data-driven software and comprehensive services across the cannabis value chain, clarifies the terms with respect to its pending acquisition of medical cannabis evaluation clinic group MedEval LLC.  Further to CB2’s news release of March 20, 2019, CB2 announces it has entered into a binding letter of intent to acquire the assets of MedEval LLC.  Subject to satisfactory due diligence and other customary closing conditions, CB2 Insights will acquire MedEval for a total consideration consisting of US$150,000 in cash and 450,000 shares of CB2 with a deemed value of US$225,000.  Additional milestone incentives are in place related to upside patient growth valued at up to US$300,000 in additional share value with all shares valued at the greater of US$0.50 or the 30-day volume weighted average price of CB2 shares.

As previously disclosed, MedEval LLC recorded approximately C$1M in revenue.  CB2 Insights anticipates that the profit margin associated with that revenue will be in line with the Company’s other clinical operations of approximately 20%.

Primary Contact
Dan Thompson
Chief Marketing Officer – CB2 Insights
1.416.670.9316
Dan.thompson@cb2insights.com

For Investor Inquiries
Sophic Capital
1.647.362.8286
investors@cb2insights.com

For Media Inquiries:
KCSA Strategic Communications
cb2@kcsa.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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Source: www.globenewswire.com