*Skylight Health (formerly CB2 Insights) was rebranded on November 30, 2020 and now trades under the symbol CSE:SHG*
TORONTO, ON – Nov 19, 2020 – CB2 Insights Inc. (CSE:CBII) (OTCQB: CBIIF) (“CB2” or the “Company“) is pleased to announce it has closed its previously announced bought deal offering of 12,236,000 common shares (the “Common Shares“, each a “Common Share“) in the capital of the Company at a price of C$0.47 per Common Share, for aggregate gross proceeds of C$5,750,920 (the “Offering“), which includes the full exercise of the underwriters’ over-allotment option.

The Offering was conducted by a syndicate of underwriters co-led by Echelon Capital Markets and Beacon Securities Limited and including Canaccord Genuity Corp., Mackie Research Capital Corp., Leede Jones Gable Inc. and PI Financial Corp.

CB2 Insights intends to use the proceeds of the Offering for strategic M&A activities and general corporate purposes.

The Company expects to report its Q3 financials on or before November 30, 2020 followed by an earnings call with management. Highlighted below are some key corporate updates and upcoming events:

  • The Company will be holding its Special Shareholders meeting on Monday November 23, 2020, to seek approval for a name change to Skylight Health Group and to delist from the Canadian Securities Exchange, if it is successful in receiving the necessary approvals to list on the TSX Venture
  • The Company hopes to commence the re-opening of its clinics in select markets in order to meet the growing demand of patients seeking in-clinic insurable services, which the Company expects to start implementing in Q1 2021.
  • In-clinic services will commence transitioning its 120,000-patient roster into primary care services, including administration of vaccines, which will explore including the anticipated delivery of COVID-19 vaccines in 2021.
  • The Company is further expanding on its acquisition pipeline as opportunities for M&A increase, as clinics are either forced to shut down due to the lack of infrastructure and technology to deploy telemedicine and/or physician owners are pushed into early retirement.
  • Acquisitions including the recently completed clinics in Washington and Texas are highly accretive, as both expand the Company’s reach into new states, accelerating the establishment of insurable services in these additional states, and scaling complimentary insurable services to the existing clinic network.

We are extremely pleased to see the strong demand and participation from fundamental investors through the efforts of our syndicate. We are in the early stages of our growth and have already seen the execution of two highly accretive acquisitions during the second half of this year.” said Prad Sekar, CEO of CB2 Insights. “With the additional capital, we expect to deploy further capital to both organic growth initiatives, but also to a growing pipeline of acquisition targets that will continue to expand our reach across new states and add new layers of insurable services for our patients. With the return to in-person clinics in 2021, we are excited to be met by expectations of positive demand from our patients seeking in-clinic services currently not able to be delivered in a telemedicine-only environment.”

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