April 4, 2019
Jamie Blundell, President & COO is pleased to provide the following update on CB2 Insights, one of CGOC’s public holdings:
CB2 Insights (“CB2”), one of CGOC’s public portfolio holdings (previously part of the private portfolio), announced today it’s second acquisition announcement in 2019, having acquired the assets of Colorado-based medical cannabis clinic group Rae of Sunshine Health Services (“ROSH”) LLC, operating as “Relaxed Clarity”, effective immediately. This Colorado-based clinic group bolsters CB2’s US medical cannabis clinical roll-up strategy; adding 15,000 new patients.
CB2 continues to acquire clinics as part of its strategy to standardize the capture of clinically-validated patient efficacy data. This new acquisition will help expedite that process and will not only improve CB2’s financial metrics but advance the industry at-large.
Relaxed Clarity operates four clinics in Colorado including Denver, Colorado Springs, Pueblo and Broomfield. The group was established in 2009 and provides comprehensive medical cannabis evaluations and educational support to approximately 15,000 patients each year. In 2018, Relaxed Clarity recorded approximately US$1.1 million in revenue.
Terms of the acquisition
Under the terms of the acquisition, CB2 has acquired 100% of the assets of each of ROSH and its subsidiaries for a combination of cash and stock. Total consideration consisted of a cash payment of US$200,000 and issuance of 500,000 common shares of the Company.
At the close of 2018, CB2 Insights was collecting clinically-validated evaluation data through its business units of approximately 65,000 patients annually. As a result of this announcement, combined with the pending acquisition of MedEval LLC, the Company projects its annualized patient count to increase to approximately 80,000 patient evaluations on an annualized basis.
Please click here for more information on the ROSH transaction.
For further information please contact Cannabis Growth Opportunity Corporation:
|Website: www.cgocorp.com||Investor Relations Email: firstname.lastname@example.org|
CB2 Insights has a mission to mainstream medical cannabis into traditional healthcare. We do so by gathering data and creating objective real-world evidence through our proprietary software and service brands. Using clinical management and data collection software at the point-of-care, CB2 Insights and its group of sub-brands has become a leading force behind bringing traditional healthcare protocols to the rapidly evolving global cannabis industry.
For more information please visit www.cb2insights.com.