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CB2 Insights Announces Debt Conversion of $3M USD Held by Merida Capital and Extinguishes All Long-Term Debt Liabilities

Globe Newswire by Globe Newswire
October 20, 2020
in Investments, Marijuana Stocks, Press Releases
Cannabis Stock Debt News

Image by Mimzy from Pixabay

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TORONTO, Oct. 20, 2020 (GLOBE NEWSWIRE) — CB2 Insights (CSE:CBII; OTCQB: CBIIF) (“CB2” or the “Company”), one of the largest integrative healthcare systems in the United States, is pleased to announce that it has completed an early conversion of its promissory note (“Note”) held by Merida Capital Partners II LP (“Merida”), a US based private equity fund, dated June 17, 2020. The principal amount of $3M USD will be converted in full. Merida will be granted 10,412,250 common shares of CB2 based on the 8-day VWAP of $0.38 CAD. With the shares received from this debt conversion, Merida continues to strengthen its position in CB2 as a reporting insider for with total holding of 25,603,945 common shares.

To read the full press release from CB2 Insights, click here.

This headline brief is meant to help you stay on the pulse of your favorite cannabis-related companies. Sometimes, just figuring out which marijuana stocks may be moving can be one of the toughest parts of trading and investing in them.

Every day, The Daily Marijuana Observer seeks to keep stakeholders informed with as much of the latest news possible to keep you informed of any catalysts that may impact the companies you care about. Be sure to subscribe to cannabis stock updates here, and CB2 Insights Inc. Updates here so you never miss a thing. 

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Tags: CB2 Insights Inc.CSE:CBIIMerida Capital PartnersOTC:CBIIF

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DISCLAIMER: DMO Holdings Corp., which owns The Daily Marijuana Observer™ (MJobserver.com), is not registered with any financial or securities regulatory authority, and does not provide nor claims to provide investment advice or recommendations to readers of this release. DMO Holdings Corp., which owns MJobserver.com, may from time to time have a position in the securities mentioned herein and will increase or decrease such positions without notice. Before making specific investment decisions, readers should seek their own professional advice and that of their own professional financial adviser. DMO Holdings Corp. or its affiliates, which owns MJobserver.com, may be compensated for its services in the form of cash-based and/or equity- based compensation in the companies it writes about, or a combination of the two.

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