{"id":401559,"date":"2020-12-17T06:03:20","date_gmt":"2020-12-17T11:03:20","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=401559"},"modified":"2020-12-17T06:03:20","modified_gmt":"2020-12-17T11:03:20","slug":"can-b-corp-closes-2-8-million-new-financing","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/can-b-corp-closes-2-8-million-new-financing\/","title":{"rendered":"Can B Corp Closes $2.8 Million New Financing"},"content":{"rendered":"
\n

Eliminates All Prior Existing Convertible Debt and Provides Growth Capital<\/p>\n

HICKSVILLE,\u00a0NY, Dec. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire<\/u><\/a> — Can B Corp. (OTCQB:<\/a>\u00a0CANB<\/a>)\u00a0(\u201cCan B\u201d or the \u201cCompany\u201d),\u00a0a\u00a0diversified health and wellness company, is pleased to announce the closing of a $2.8 million debt financing from an institutional investor.<\/p>\n

The investment enables Can B to pay off and eliminate all prior outstanding convertible notes without penalty. In addition, the new investment, along with an ongoing Reg A offering, should provide the capital needed to return to growth in 2021.\u00a0 Please see the Company\u2019s recently filed 8K\u00a0https:\/\/tinyurl.com\/ycw5muor<\/a>\u00a0for complete details of the new debt financing.<\/p>\n

As Can B closes the year of the COVID and starts fresh in 2021 with a feeling of optimism with all of the company\u2019s operating divisions trending upward. The Company\u2019s actions over the last year have led to development of a vertically integrated platform for controlling its products from seed to sale with a multi-prong channel strategy in bringing health and wellness to consumers. \u00a0Pure Health Products is gearing up for an intended GMP certification in the first quarter of 2021, a path Company believes, that every CBD manufacturer will be required to meet in the future. Pure Health Products is also securing additional new white label customers as well as adding to its own branded line of products. Additionally, Duramed has expanded its no-fault insurance products and service availability to the state of Michigan and has added with new medical devices to its portfolio.<\/p>\n

Marco Alfonsi, Can B\u2019s Chief Executive Officer, commented, \u201cThis transaction marks a significant milestone for the Company as we were able to pay off and eliminate all prior existing convertible notes to avoid default and in addition to have the capital needed to return to growth in 2021. We look forward to continuing to build value for all of our shareholders.\u201d<\/p>\n

\n
\n About\u00a0Can B Corp.<\/u>
\n <\/strong>\n <\/p>\n

Can B Corp. (OTCQB:<\/a>\u00a0CANB)<\/a>\u00a0is a Health & Wellness company providing the highest quality cannabidiol (CBD) products under the brands of Canbiola, Seven Chakras, NuWellness, Pure Leaf Oil, and Duramed. Can B utilizes multi-channel distribution to reach consumers, including medical facilities, doctor offices, retailers, online and direct. Can B is also an exclusive partner of the LifeGuard\u00ae Brand in developing a line of consumer products. The Company is also launching Super Foods, a line of nutritional supplements. Can B Corp. owns and operates an R&D and production facility in Lacey, WA, and Green Grow Farms, a licensed hemp grow and cultivation in New York. To learn more about Can B Corp. and our comprehensive line of high-quality CBD products, please visit:\u00a0Canbiola.com<\/a>\u00a0and\u00a0www.CanBCorp.com<\/a>, follow Can B Corp on\u00a0Instagram\u00a0<\/a>and\u00a0Facebook<\/a><\/u>, or visit one of the 1,000+ retail outlets that carry Can B Corp. products.<\/p>\n

For more information about Can B Corp., please visit: CanBCorp.com<\/a><\/u><\/p>\n

\n Twitter @CanBCorp<\/a>\n <\/p>\n

\n Instagram @canbcorp<\/a>\n <\/p>\n

\n Facebook @ Can B Corp<\/a>\n <\/p>\n

\n
\n Forward-Looking Statements<\/u>
\n <\/strong>\n <\/p>\n

Forward-looking statements and risks and uncertainties discussed in this release contain forward-looking statements. The words “anticipate,” “believe,” “estimate,” “may,” “intend,” “expect,” and similar expressions identify such forward-looking statements. Expected, actual results, performance, or achievements could differ materially from those contemplated, expressed, or implied by the forward-looking statements contained herein. Forward-looking statements are subject to a number of risks and uncertainties, including but not limited to, risks and uncertainties associated with, among other things, the impact of economic, competitive, and other factors affecting our operations, markets, products, and performance. The matters discussed herein should not be construed in any way, shape, or manner of our future financial condition or stock price. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events, or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.<\/p>\n

Investors and Media:<\/p>\n

IR@canbiola.com<\/p>\n

(917) 658-7878<\/p>\n


\n
\n \n <\/div>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

Eliminates All Prior Existing Convertible Debt and Provides Growth Capital HICKSVILLE,\u00a0NY, Dec. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB:\u00a0CANB)\u00a0(\u201cCan B\u201d or the \u201cCompany\u201d),\u00a0a\u00a0diversified health and wellness company, is pleased to announce the closing of a $2.8 million debt financing from an institutional investor. The investment enables Can B to pay off and eliminate all prior outstanding convertible notes without penalty. In addition, the new investment, along with an ongoing Reg A offering, should provide the capital needed to return to growth in 2021.\u00a0 Please see the Company\u2019s recently filed 8K\u00a0https:\/\/tinyurl.com\/ycw5muor\u00a0for complete details of the new debt financing. As Can B closes the year of the COVID and starts fresh in 2021 with a feeling of … <\/p>\n

Continue reading “Can B Corp Closes $2.8 Million New Financing”<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-401559","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"\nCan B Corp Closes $2.8 Million New Financing - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/can-b-corp-closes-2-8-million-new-financing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Can B Corp Closes $2.8 Million New Financing - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Eliminates All Prior Existing Convertible Debt and Provides Growth Capital HICKSVILLE,\u00a0NY, Dec. 17, 2020 (GLOBE NEWSWIRE) — via NewMediaWire — Can B Corp. (OTCQB:\u00a0CANB)\u00a0(\u201cCan B\u201d or the \u201cCompany\u201d),\u00a0a\u00a0diversified health and wellness company, is pleased to announce the closing of a $2.8 million debt financing from an institutional investor. The investment enables Can B to pay off and eliminate all prior outstanding convertible notes without penalty. In addition, the new investment, along with an ongoing Reg A offering, should provide the capital needed to return to growth in 2021.\u00a0 Please see the Company\u2019s recently filed 8K\u00a0https:\/\/tinyurl.com\/ycw5muor\u00a0for complete details of the new debt financing. 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