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Corporate Update: Canabo Medical Continue to Execute Across the Board - Mushroomstocks | Mushroomstocks
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Corporate Update: Canabo Medical Continue to Execute Across the Board

Jun 5, 2017 • 1:32 PM EDT
Canabo Medical (1).png
5 MIN READ  •  By Michael Berger
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Canabo Medical (CMM.V) (CAMDF: OTCQB) issued a corporate update this morning that highlighted some important company developments following the company’s listing on the TSX Venture Exchange. 

Executive Chairman Dr. Neil Smith outlined several key accomplishments that support its focus on being the dominant clinic network, research provider and data analytics source in the cannabis industry.

Operational Updates

  • Canabo treatments are now available in 16 clinic locations nationally (up from 10 locations at the time of listing) and is expanding its footprint through agreements to open to 30 partner clinic locations across the country. 
  • The company has a strong balance sheet with approx.. $8.5 million (or $0.22 per share)
  • During the past six months, Canabo has completed 14,000 physician/patient appointments including 5,500 new, first visit patients.
  • Completed an $8.4 million financing at $1.40 per share.   Canabo will not require additional equity financing for the foreseeable future.
  • Canabo entered a research and development agreement with Terra Life Sciences to develop condition specific treatments. The agreement is expected to result in both near-term research study revenue and ultimately licensing revenue from any new treatments developed.
  • In April, the company released a milestone study on benzodiazepine use, showing a marked drop in use among Canadian patients using medical marijuana treatments.
  • Entered a partnership with Rapid Interactive Disability Management which has created a new revenue stream through the completion of Independent Medical Evaluations as required in medical cannabis cases by Canadian employers and insurance providers.
  • Canabo has trained 65 physicians in its proprietary physician training program, up from 30 physicians at the time of listing.  In addition, 26 Continuing Medical Education sessions have been held, with over 700 referring physicians attending.  

From the Executive Chairman

Dr. Smith said, “During the month of November we saw approximately 800 new patients, and six months later, we are seeing approximately 1,200 new patients per month.  Our growth rate is driven by new clinic openings as well as partner clinic growth. The partner clinic model provides great advantages in supporting Canabo’s aggressive expansion strategy. Capital outlay is lower for each new partner clinic, and these clinics have an existing patient roster which allows us to reach new patients requiring care sooner.”

Smith noted, “Through our partnership with RIDM, we are seeing encouraging growth in our Independent Medical Evaluations revenue stream. Our reputation for the highest quality of medical practice and our conservative, thoughtful approach to prescribing medical marijuana is positioning Canabo as a preferred partner within the insurance industry to complete IMEs.  Canabo provides a fee for service for IMEs.  This service offering is projected to grow month over month for the foreseeable future as we are currently in discussions to become the preferred provider of medical marijuana IMEs for multiple clients.” 

An Underappreciated and Undervalued Opportunity   

Canabo expects to be able to announce new research projects over the next 6 to 12 months. The company’s current database has over 2 million data points and is growing monthly. We are favorable on the data owned by the company and we believe companies like Terra Life Sciences have recognized the value from Canabo’s data.

We are favorable on that partnership as the companies work to develop new cannabinoid treatments. Canabo reported to be in discussions with medical operators or regulators in other countries and we believe the shares are undervalued at current levels. We are favorable on Canabo’s continued execution, its management team, and its position to create value within a burgeoning industry.



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Important Investor Disclosures 

Disclosure.  Compensated Affiliate.  This report was authored by and is property of StoneBridge Partners.  All information and data relied upon in drafting this report is publicly available.  The author believes and considers its sources to be reliable, but does not guarantee the accuracy or completeness of any information contained in this report.  Any and all information, data, analyses and opinions are provided for informational purposes only and is not intended, in any manner, as investment advice.  Any projections or other information generated by StoneBridge Partners regarding the likelihood of various investment outcomes are hypothetical in nature, do not reflect actual investment results, and are not guarantees of future results.  None of the material contained in this report is intended as a solution or offer to sell or purchase a specific stock or any other investment.  This report is not directed to, or intended for distribution or use by, any person or entity that is a citizen, resident or located in any municipality, state, country or other jurisdiction where the distribution, publication, availability, or use of this report is contrary to any governing law or regulation.  The securities discussed in this report may not be eligible for purchase and/or sale in certain jurisdictions or by particular individuals.  It is important that you check any and all governing laws and/or regulations that may be applicable in your jurisdiction.  Investing in securities of issuers organized outside of the United States, including ADRs, entail certain risks.  The securities of non-United States issuers may not be registered with, nor be subject to the reporting requirements of the United States Securities and Exchange Commission.  Please contact a Financial Advisor for professional advice regarding any and all securities investments.  This report is intended for informational purposes only.  StoneBridge Partners’s officers, directors, employees, affiliates, or subsidiaries may have positions in securities covered by StoneBridge Partners.  StoneBridge Partners may receive compensation from the company and/or has a position in the securities mentioned in this report


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Authored By

Michael Berger

Michael Berger is Managing Partner of StoneBridge Partners, LLC and Founder of Mushroomstocks.com. Prior to entering the cannabis industry, Michael was an Equity Research Analyst at Raymond James Financial covering the Energy Sector. Michael has been featured in publications such as The Street, Bloomberg, US Money News, and hosts various cannabis events across North America.


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