CB2 Insights Announces Delay in Filing Financials and Year End 2019 Financial Results Conference Call
TORONTO, June 10, 2020 (GLOBE NEWSWIRE) — CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), announces an update further to its news release of April 20, 2020, with respect to: (i) the filing its audited annual financial statements for the year ended December 31, 2019 and the related management discussion and analysis (“MD&A”); and (ii) the filing of its interim financial statements and related MD&A with respect to the interim period ended March 31, 2020. The Company will invoke the Ontario Instrument 51-502 Temporary Exemption from Certain Corporate Finance Requirements (the “Blanket Order’) extending deadlines to file financial statements and MD&A’s. Pursuant to the Blanket Order, the Company is relying on the relief therein for its audited financial statements, for the year end December 31, 2019, as required by Section 4.2 of National Instrument 51-102, the interim financial period ended March 31, 2020, as required by Section 4.3 of National Instrument 51-102 and the related MD&A as required by section 5.1(2) of National Instrument 51-102.
The Company expects to file its audited financial statements and the related MD&A for the year ended December 31, 2019 on or before June 15, 2020 and its financial statements and the related MD&A for the interim period ended March 31, 2020 on June 30, 2020. In addition, the Company announces that it will host a conference call on Tuesday, June 16, 2020 at 9:00 a.m. (EST) to discuss the Company’s 2019 annual results. The Company also expects to provide guidance on its first quarter 2020 interim results during the earnings call.Until the Company has filed and announced the required financial statements and related MD&A’s, all management and other insiders are subject to the Company’s share trading and black-out policy that reflects the principals in section 9 of National Policy 11-207 Failure-to-File Cease Trade Orders and Revocations in Multiple Jurisdictions.Conference call details:
About CB2 InsightsCB2 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. CB2 also owns and operates Skylight Health Group, an integrated health division providing patients access to primary care, family medicine, integrative and wellness services.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 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 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.