CB2 Insights Announces Delay in Filing Annual Financial Statements
TORONTO, June 15, 2020 (GLOBE NEWSWIRE) — CB2 Insights Inc. (“CB2” or the “Company”) (CSE: CBII; OTCQB: CBIIF) announces that it has been delayed in filing its annual financial statements (the “Annual Financial Statements”) and associated management discussion and analysis (“MD&A”) for the year-ended December 31, 2019, which were required to be filed on June 15, 2020.
The Company now expects to file the Annual Financial Statements and related MD&A on or before Thursday June 18, 2020.The delay in filing occurred due to the Company’s auditors request for additional time to finalize its review of the Company’s financial information and to complete its normal audit procedures.As a result of the above, the Company has rescheduled its earnings call to Friday June 19, 2020 at 9:00 a.m. (EST).The Company continues to see strong growth in execution of its business plan. On an unaudited basis, the Company continues to illustrate profitability in Q2 2020. The Company has also strengthened its balance sheet with cash from operations, and the receipt of relief funds available to its US medical services business due to the COVID-19 pandemic.About CB2 InsightsCB2 Insights (CSE:CBII) CB2 Insights is a healthcare services and technology company, working to positively impact patient health outcomes. Our 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 who are 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 31 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.
For more information please visit www.cb2insights.com.For additional information, please contact:Investor Relations Department
1.855.847.4999 ext. 212
Forward Looking StatementsStatements 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 timing of the filing of its Annual Financial Statements and related MD&A.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.