10557404 Canada Corp. Signs Definitive Agreement with MVC Technologies Inc. and Changes Name to CB2 Insights Inc.
Toronto, Ontario–(Newsfile Corp. – January 23, 2019) – 10557404 Canada Corp. has completed a change of name to CB2 Insights Inc. (“the Company”) as part of it having entered into the Definitive Agreement to acquire MVC Technologies Inc. by way of a reverse take-over (the “Transaction”). For more information on the transaction, see the Press Release dated September 7, 2018.
Addionally, the Company is pleased to confirm that its shareholders voted 99.95% in favour of the share consolidation of 1 New Common Share for every 16.5 current common shares and 100% in favour of the change to the board of directors at its Special General Meeting on November 26, 2018. The share consolidation has been completed, while the new directors will only assume their roles upon completion of the Transaction.
Upon the completion of the Transaction, CB2 Insights (resulting from MVC Technologies) will be a comprehensive data analytics company within the cannabis industry, bringing Real World Evidence to the space through its multi-brand approach.
- Canna Care Docs, a multi-state operator of medical cannabis evaluation and education centres currently assesses the treatment of more than 65,000 patients per annum.
- Sail, a proprietary practice management and data collection tool is used within the Company’s 28 centres as well as independent clinic groups to gather Real World Data at the point-of-care.
- TokeIn is a consumer loyalty and engagement application that works with dispensaries and other retailers in the cannabis space to better understand purchasing patterns.
- CB2 Insights anonomizes and analyses the wealth of data collected to bring actionable insights to multiple stakeholders within the industry including licesnsed producers, healthcare networks and government agencies.
Pursuant to the Definitive Agreement and the shareholder approvals, and subject to final approvals of the British Columbia Securities Commission and the Canadian Securities Exchange (the “CSE”), the Company will carry out a three-cornered amalgamation of MVC Technologies Inc.
For complete details of the Transaction please see the Company’s SEDAR profile at www.sedar.com.
The final Prospectus filing and the Application for Listing remain subject to regulatory approvals, including the approval of the CSE.
For more information, please contact:
CB2 Insights Inc.
1.416.222.4202
investors@grovecorp.ca
