CB2 Insights Announces Delay in Filing Under CSA Instrument Governing Relief under COVID-19 Duress

TORONTO, April 15, 2020 (GLOBE NEWSWIRE) -- CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), has announced that due to circumstances created by the COVID – 19 pandemic it will not be filing its Financial Statements for the Fiscal Year ended December 31, 2020 by the scheduled due date of April 30, 2020 (as required by section 4.4(b) of National Instrument 51-102), nor will the Management Discussion and Analysis covering the same period be filed by it scheduled due date (as required by section 5.1(2) of National Instrument 51-102).

As required by BC Instrument 51-515 and Ontario Instrument 51-502, the Company discloses the following:

• The Company’s management and other insiders will be subject to a trading black-out that reflects the principles in Section 9 of National Policy 11-207 until its Financial Statements for the Fiscal Year ended December 31, 2019 and the related the Management Discussion and Analysis (the “Financial Reports”) have been filed;

• The Company expects to file the Financial Reports on or about June 12th, 2020; and

• Other than as previously disclosed by the Company, there have been no material business developments since the date of the Company’s most recent filing of its interim Financial Statements and Management Discussion and Analysis. The Company’s clinical services remain open to servicing patients in each operating State, currently via telehealth and telemedicine due to State requirements for respecting social distancing. The Company continues to be focused on execution with a current focus on cash management for operations and staff. With the uncertainty of COVID-19 and its impact both in the short and long-term to all businesses, the Company wants to certainly provide confidence to our investment community to continue to execute in the best way possible, and deal with the intermittent challenges in order to ensure CB2 Insights achieves its long-term objectives.

About CB2 Insights

CB2 Insights (CSE:CBII) is a global leader in clinical operations, technology & analytics solutions and research and development services with a mission to mainstream medical cannabis into traditional healthcare.  Providing immediate market access through its wholly-owned clinical network across 12 jurisdictions, proprietary data-driven technology solutions and comprehensive contract research services designed for those in both the medical cannabis and traditional life sciences industries, CB2 Insights is able to support its partners across the entire data and research spectrum. 

CB2’s Clinical Operations business unit leverages extensive experience to develop clinical models with standard operating procedures, advanced workflows, training and ongoing management support.  CB2 also owns and operates its own specialty clinics including the brands Canna Care Docs and Relaxed Clarity which assess nearly 100,000 patients seeking medical cannabis treatment to provide immediate market access to US-based product manufacturers for clinical trial and research programs.

The Company has built both electronic data capture (EDC) and clinical data management software (CDMS) which work to support its partners of any size to execute their data and clinical strategies.

CB2 also offers comprehensive contract research organization (CRO) services including full scale clinical trial management, trial design, monitoring and other key research functions used by licensed producers, multi-state operators and traditional pharmaceutical companies entering the medical cannabis space.

For more information please visit www.cb2insights.com.

For additional information, please contact:

Investor Relations Department
1.855.847.4999  ext. 212
[email protected]

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.