CB2 Insights lands C$5 mln-plus in Merida Capital-led deal
Summary
TORONTO, Feb. 22, 2019 (GLOBE NEWSWIRE) — MVC Technologies Inc., operating as CB2 Insights (“CB2” or the “Company”), a leading data-driven company focused on bringing real-world evidence driven from the point-of-care to the medical cannabis community, is pleased to announce the completion of its non-brokered private placement for gross proceeds of C$5.74M. “In the coming weeks we plan to deploy a portion of the proceeds from the financing to continue our acquisitions of US-based medical cannabis evaluation clinics,” said Prad Sekar, Chief Executive Officer, CB2 Insights. The scale we are building is not simply for a roll-up; we are using the data we gather within our operations to bring real-world evidence to the medical cannabis space and to develop new predictive analytics tools for all industry stakeholders.” Mr. Sekar continued, “Merida’s deep understanding of the cannabis industry, both core and ancillary, makes them an ideal strategic partner for our company moving forward. 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.