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Columbia Large Cap Growth Fund Class E (CLGEX)

Nasdaq - Nasdaq Delayed Price. Currency in USD
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57.71+0.12 (+0.21%)
At close: 8:00PM EDT
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Previous Close57.59
YTD Return10.17%
Expense Ratio (net)1.33%
CategoryLarge Growth
Last Cap Gain0.00
Morningstar Rating★★★★★
Morningstar Risk RatingAverage
Sustainability Rating
Net Assets5.25B
Beta (5Y Monthly)1.01
Yield0.02%
5y Average ReturnN/A
Holdings Turnover46.00%
Last Dividend0.00
Average for CategoryN/A
Inception DateSep 22, 2006
  • CB2 Insights announces debt conversion of $3M USD held by Merida Capital and extinguishes all long-term debt liabilities
    GlobeNewswire

    CB2 Insights announces debt conversion of $3M USD held by Merida Capital and extinguishes all long-term debt liabilities

    * Merida Capital has agreed to an early conversion of their outstanding debt note of $3M USD * Merida will be granted 10,412,250 shares at the calculated 8-day VWAP of $0.38 CAD * Merida demonstrates its continued support of the Company’s goal of becoming one of the largest multi-disciplinary healthcare operators in the US * The Company further strengthens its balance sheet with elimination of long-term debt complementing the strong cash position of approximately $5.5M CAD to focus on growth and strategic M&A activityTORONTO, 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.Under the terms of the Note, the principal amount of $3M USD will become payable on December 24, 2022 and carries an annual interest rate of 8%. Additionally, if at any time prior to the maturity date, the closing price of the Company’s common shares on the CSE is equal to or greater than $0.30 CAD for 20 consecutive trading days, then the outstanding amounts owed under the Note will be converted into that number of common shares based on the 20-day VWAP, less a discount of 10%. Based on early conversion, the Note has been converted at the 8-day VWAP with no discount.Conversion of the Note will save the company approximately $0.5M USD in interest payments over the remainder of the Term. Additionally, the Company has strengthened its balance sheet by eliminating 100% of its long-term debt. The Company also announced a full quarter of profitability in Q2 2020 and expects this to continue for Q3 2020. The Company also recently completed an oversubscribed private placement of $5.13M CAD bringing the total cash position to $5.5M CAD. The Company forecasts strong growth organically as it continues to expand its primary care services in the US through its physical clinics and telemedicine offerings.As part of its stated strategy of carefully executing upon an extensive M&A pipeline of medical clinics and services in the US, the Company recently completed the acquisition of Maverick County Medical in Texas with revenues of $1.6M CAD and EBITDA of $0.3M CAD for a total purchase price of $0.98M CAD. The Company is now well positioned to continue working through its deal pipeline and expects strong deal flow in the future. With a strong cash position, no long-term debt and a profitable business operation, the Company is well positioned to execute this strategy.“We continue to focus the Company to be on the offensive and establish the foundation for rapid growth in the US healthcare market," said Prad Sekar, CEO, CB2 Insights. “The early conversion of our promissory note from Merida continues to validate our strength in the US with a strong financial partner that is committed to supporting our growth. The US healthcare market has never been as attractive to providers of innovative solutions. With over 40 years of collective management experience in practice management and healthcare operations, coupled with excess cash on hand and a strong infrastructure, we are well positioned to deliver our innovative multi-disciplinary health solutions to benefit millions of Americans.”“Merida has always sought to partner with companies that develop valuable assets in data and technology that can be extrapolated to succeed in traditional industries.  Our firm's voluntary note conversion further supports Merida's belief that CB2 stands on the precipice of disrupting traditional healthcare channels while continuing to deliver innovative healthcare solutions both in clinic and virtually," said Mitch Baruchowitz, Managing Partner of Merida.About CB2 InsightsCB2 Insights (CSE:CBII OTCQB:CBIIF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Companies mission to improve the lives of patients through the prevention and treatment of health conditions and using proprietary technology to monitor, assess, and generate insights to help improve patient outcomes. The Company owns and operates a proprietary virtual telehealth platform, and a network of over 30 medical clinics across 13 states in the US, providing integrative, primary, and urgent care services to over 100,000 patients annually.The Company has created works primarily to roster and treat patients seeking traditional and alternative treatments due to the ineffectiveness of conventional medicine, inability to find support through their existing care network, or in some cases, inability to access a primary care network. The Company offers both primary care via a traditional insurable services model and a disruptive low-cost subscription based urgent care offering for patients seeking immediate need to a healthcare provider via telehealth.The Company differentiates itself by being one of the largest integrative medical practices in the US that owns its own proprietary technology, data analytical assets, and clinical research expertise to support new market expansion, market access, data collection and analysis and drug discovery.The Company operates a proprietary electronic health record platform Sail (“Sail”) to document, treat, monitor, and report on patient health outcomes. Developed in 2015, Sail is used internally across all of the Company’s clinical operations. Sail features a robust telemedicine platform that the Company uses to provide care to its National patient base. To support patient care and positive health outcomes, the Company is also focused on advancing safety and efficacy research surrounding alternative health treatments by monitoring and assessing Real-World Data (RWD) and providing Real-World Evidence (RWE) through our proprietary technology, data analytics, and a full service contract research organization.For more information please visit www.cb2insights.com or contact:Investor Relations Jonathan L. Robinson CFA Oak Hill Financial jrobinson@oakhillfinancial.ca 416-669-1001Forward Looking StatementsStatements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth. Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

  • GlobeNewswire

    CB2 Insights to Present at the Virtual Gravitas Technology and Diversified Investor Day

    TORONTO, Oct. 13, 2020 (GLOBE NEWSWIRE) -- CB2 Insights (the “Company” or “CB2”) (CSE:CBII OTCQB:CBIIF), one of the largest integrative healthcare systems in the United States, is pleased to announce it will be participating in the Gravitas Technology and Diversified Investor Day taking place Thursday, October 15th, 2020 virtually.CB2’s Chief Executive Officer, Pradyum Sekar, is scheduled to present on Thursday, October 15th at 3:00 PM EST. Mr. Sekar will also be fielding investor questions during the one-day virtual conference hosted by Gravitas Securities Inc. “I am looking forward to sharing our growth strategy with investors at the Gravitas Technology and Diversified Investor Day,” said Mr. Sekar. “With the recent acquisition of Texas-based Maverick County Medical serving over 10,300 patients, the Gravitas Technology and Diversified Investor Day is an ideal venue to communicate our progress to investors.”This year’s Gravitas Technology and Diversified Investor Day will feature several leaders in Technology and Diversified industries and will be attended virtually by institutional and retail investors from North America and abroad. For additional details about the conference and Gravitas Securities Inc., please visit: www.gravitassecurities.comConference Details:Event:Gravitas Technology and Diversified Investor Day (virtual) Format:Presentation Date:Thursday, October 15th Time:9:30 AM – 4:15 PM EST Registration:Link CB2 Insights CB2 Insights (CSE:CBII OTCQB:CBIIF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Companies mission to improve the lives of patients through the prevention and treatment of health conditions and using proprietary technology to monitor, assess, and generate insights to help improve patient outcomes. The Company owns and operates a proprietary virtual telehealth platform, and a network of over 30 medical clinics across 13 states in the US, providing integrative, primary, and urgent care services to over 110,000 patients annually. The Company has created works primarily to roster and treat patients seeking traditional and alternative treatments due to the ineffectiveness of conventional medicine, inability to find support through their existing care network, or in some cases, inability to access a primary care network. The Company offers both primary care via a traditional insurable services model and a disruptive low-cost subscription based urgent care offering for patients seeking immediate need to a healthcare provider via telehealth. The Company differentiates itself by being one of the largest integrative medical practices in the US that owns its own proprietary technology, data analytical assets, and clinical research expertise to support new market expansion, market access, data collection and analysis and drug discovery. The Company operates a proprietary electronic health record platform Sail (“Sail”) to document, treat, monitor, and report on patient health outcomes. Developed in 2015, Sail is used internally across all of the Company’s clinical operations. Sail features a robust telemedicine platform that the Company uses to provide care to its National patient base. To support patient care and positive health outcomes, the Company is also focused on advancing safety and efficacy research surrounding alternative health treatments by monitoring and assessing Real-World Data (RWD) and providing Real-World Evidence (RWE) through our proprietary technology, data analytics, and a full service contract research organization. For further information, please contact:Investor Relations Jonathan L. Robinson CFA Oak Hill Financial jrobinson@oakhillfinancial.ca 416-669-1001 Forward Looking Statements Statements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements.Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth.Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change.There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events.Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.

  • GlobeNewswire

    CB2 Insights Announces Acquisition of Texas-based Primary Care Medical & Wellness Clinic with $1.6 million in Revenue and Positive EBITDA

    * Texas-based Maverick County Medical has been providing Primary Care Services to over 10,300 patients in Eagle Pass and surrounding regions. * In 2019, Maverick County Medical generated CAD 1.6 million in revenues and CAD 0.29 million in net income. * CB2 Insights will continue to expand services offered by Maverick County Medical including deployment of its proprietary telehealth platform to support patients across the state of Texas. * CB2 Insights paid a total cash consideration of CAD 0.98 million for the acquisition with 50% paid upfront and the remaining 50% following 6 months from the date of the transaction.TORONTO, Oct. 07, 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 the asset acquisition of Maverick County Medical (“MCM”) in Eagle Pass, Texas. The acquisition of MCM expands the Company’s bricks and mortar and telemedicine services to 14 States and adds 10,300 new patients to its current roster of 100,000.MCM has been operating in Eagle Pass for over 15 years with strong patient retention. Services to patients include primary care, occupational medicine, disease management, minor surgeries, and treatment for auto accident injuries, among others. Services provided by MCM are primarily reimbursed through insurance carriers including Medicare, Medicaid and other commercial payors. MCM also provides services for un-insured patients however representing a smaller proportion of today’s revenues.The Company expects to see continued growth in patient registrations and visits as MCM continues to thrive among the challenges most clinics have faced due to the recent COVID-19 pandemic. Further, the Company will work quickly to expand on the current offering of services by leveraging its current telemedicine infrastructure to provide access to patients across the state of Texas. The Company will also evaluate the current services offered to determine growth in new and complimentary services, add new lines of revenue from insurable services, and expand overall patient care.“Our goal is to provide accessible and affordable healthcare solutions, “ said Prad Sekar, CEO, CB2 Insights. “With the expansion into Texas by way of acquisition of MCM, we welcome a family of practitioners, staff and doctors who align with the direction of our Company, and will be a central point of expansion for our services through telemedicine, subscription services for uninsured patients, and the vision for an integrated National healthcare network.”MCM represents the first acquisition by the Company since its recently announced oversubscribed private placement of CAD 5.13 million in September 2020. The acquisition is also part of a 3-pronged growth model which includes growth from the current infrastructure, new services and acquisitions. The Company’s experienced management team continues to develop a robust pipeline of accretive and strategic acquisition targets that are revenue generating, profitable and offer significant opportunities for growth.The Company paid a total cash consideration of CAD 0.98 million for MCM. Terms of the transaction include a customary transition by the previous owners with 50% of the cash awarded at the signing of the transaction, and 50% due 6 months from the date of completion of the transaction. MCM reported revenues in 2019 of CAD 1.6 million and net income of CAD 0.29 million.About CB2 InsightsCB2 Insights (CSE:CBII OTCQB:CBIIF) is a healthcare services and technology company, working to positively impact patient health outcomes. The Companies mission to improve the lives of patients through the prevention and treatment of health conditions and using proprietary technology to monitor, assess, and generate insights to help improve patient outcomes. The Company owns and operates a proprietary virtual telehealth platform, and a network of over 30 medical clinics across 13 states in the US, providing integrative, primary and urgent care services to over 100,000 patients annually.The Company has created works primarily to roster and treat patients seeking traditional and alternative treatments due to the ineffectiveness of conventional medicine, inability to find support through their existing care network, or in some cases, inability to access a primary care network. The Company offers both primary care via a traditional insurable services model and a disruptive low-cost subscription based urgent care offering for patients seeking immediate need to a healthcare provider via telehealth.The Company differentiates itself by being one of the largest integrative medical practices in the US that owns its own proprietary technology, data analytical assets, and clinical research expertise to support new market expansion, market access, data collection and analysis and drug discovery.The Company operates a proprietary electronic health record platform Sail (“Sail”) to document, treat, monitor and report on patient health outcomes. Developed in 2015, Sail is used internally across all of the Company’s clinical operations. Sail features a robust telemedicine platform that the Company uses to provide care to its National patient base. To support patient care and positive health outcomes, the Company is also focused on advancing safety and efficacy research surrounding alternative health treatments by monitoring and assessing Real-World Data (RWD) and providing Real-World Evidence (RWE) through our proprietary technology, data analytics, and a full service contract research organization.For more information please visit www.cb2insights.com or contact:Investor Relations Jonathan L. Robinson CFA Oak Hill Financial jrobinson@oakhillfinancial.ca 416-669-1001Forward Looking StatementsStatements in this news release that are forward-looking statements are subject to various risks and uncertainties concerning the specific factors disclosed here and elsewhere in CB2’s filings with Canadian securities regulators. When used in this news release, words such as "will, could, plan, estimate, expect, intend, may, potential, believe, should," and similar expressions, are forward-looking statements. Forward-looking statements may include, without limitation, statements regarding the Company’s unaudited financial results and projected growth. Although CB2 has attempted to identify important factors that could cause actual results, performance or achievements to differ materially from those contained in the forward-looking statements, there can be other factors that cause results, performance or achievements not to be as anticipated, estimated or intended, including, but not limited to: dependence on obtaining regulatory approvals; investing in target companies or projects which have limited or no operating history and are subject to inconsistent legislation and regulation; change in laws; reliance on management; requirements for additional financing; competition; hindering market growth and state adoption due to inconsistent public opinion and perception of the medical-use and recreational-use marijuana industry and; regulatory or political change. There can be no assurance that such information will prove to be accurate or that management's expectations or estimates of future developments, circumstances or results will materialize. As a result of these risks and uncertainties, the results or events predicted in these forward-looking statements may differ materially from actual results or events. Accordingly, readers should not place undue reliance on forward-looking statements. The forward-looking statements in this news release are made as of the date of this release. CB2 disclaims any intention or obligation to update or revise such information, except as required by applicable law, and CB2 does not assume any liability for disclosure relating to any other company mentioned herein.No securities regulator or exchange has reviewed, approved, disapproved, or accepts responsibility for the content of this news release.