CBIIF - CB2 Insights completes CAD$5M an upsized public offering

CB2 Insights (CBIIF) entered into an amendment to the previously announced engagement agreement with Merida Capital Partners agreed to increase the size of the previously announced bought deal financing.CBIIF announced the closing of its a non-brokered private placement of up to 34M units at a price of CAD$0.15 per unit for gross proceeds of ~CAD$5M. Each unit consists of one common share and one half of one purchase warrant.Each Warrant is exercisable to acquire one additional Common Share at an exercise price of $0.20 for a period of twenty-four months following the closing date of the offering.Net proceeds will be used for working capital purposes and strategic M&A activities.Additionally, the Company is issuing ~102K shares to certain consultants and also announces that 2.48M previously issued stock options have been surrendered to the Company and cancelled.

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CB2 Insights completes CAD$5M an upsized public offering