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Classified in: Business
Subjects: ERN, MAT

CBi2 Capital Reports Quarter-Ended December 31, 2019 Financial Results and Provides Update on Investment in Intev Technologies, LLC


CALGARY, March 2, 2020 /CNW/ - (TSXV/CSE:TCI) Target Capital Inc. d.b.a. CBi2 Capital ("CBi2" or the "Company") is pleased to provide a summary of its financial results for the financial quarter ended December 31, 2019.

Selected financial information is outlined below and should be read in conjunction with the Company's audited consolidated financial statements and management's discussion and analysis for the financial quarter ended December 31, 2019, which are available on SEDAR at www.sedar.com and the Company's website at www.cbi2.com.

Financial Highlights

The following table summarizes key financial highlights associated with the Company's financial performance.


Nine Months Ended

December 31, 2019


Nine Months Ended
December 31, 2018


$000s



$000s


Revenues

590



409


Expenses

853



914


Net Loss

263



505


Total Assets

3,103



3,637


Total Liabilities

89



105


Total Shareholders' Equity

3,014



3,532


 

Update on Investment in Intev Technologies, LLC.

Intev Technologies LLC is continuing in the advance and the commercialization of their debut consumer product, the Zepto product line, and the initial public launch is anticipated in the coming months. The Zepto vaporizer is a patented, luxury, sleek personal vaporizer device and pod system.  It boasts ground breaking features, including wireless recharging and smart button technology, giving the user superior control of the device. Its modular design is adaptable for use with other manufacturers' e-liquid pods, establishing it as an industry leader in market adoption, resiliency, portability and consumer convenience. Learn more at www.zeptovape.com.

About CBi2 Capital

Target Capital Inc. d.b.a. CBi2 Capital, is a Calgary, Alberta based company executing on a cannabis focused investment strategy, where it intends to develop and manage a diversified portfolio of predominantly early stage cannabis investment opportunities. The Company's common shares are listed on the TSX Venture Exchange and the Canadian Securities Exchange under the trading symbol "TCI".

Forward-Looking and Cautionary Statements

This news release may include forward-looking statements including the Company's objectives, opinions and assumptions. When used in this document, the words "will," "anticipate," "believe," "estimate," "expect," "intent," "may," "project," "should," and similar expressions are intended to be among the statements that identify forward-looking statements. Statements relating to Intev's brands, products, business, strategies, expectations, planned operations or future actions, including a go-public transaction involving Intev, the performance of Intev's business and operations, the competitive conditions of the industry in which Intev operates and the competitive advantages of Intev and Intev's future product offerings are deemed to be forward-looking statements.

The forward-looking statements are founded on the basis of expectations and assumptions made by the Company, including expectations and assumptions concerning Intev. Forward-looking statements are subject to a wide range of risks and uncertainties, and although the Company believes that the expectations represented by such forward-looking statements are reasonable, there can be no assurance that such expectations will be realized.

Any number of important factors could cause actual results to differ materially from those in the forward -looking statements.  Without limitation, these risks and uncertainties include: the parties being unable to obtain the required stock exchange and regulatory approvals; the possibility that licenses to use certain brands or trademarks will be terminated, challenged or restricted; failure to maintain consumer brand recognition and loyalty of customers; substantial and increasing U.S. and Canadian regulation and uncertainty related to the regulation and taxation of vaporizer products; reliance on relationships with wholesalers and retailers for distribution of products and failure to maintain strategic business relationships, including brand partnerships; intense competition, including from illicit sources; uncertainty and continued evolution of markets; product liability litigation; the scientific community's lack of information regarding the long-term health effects of electronic cigarettes, vaporizers and e-liquids; reliance on information technology; infringement on intellectual property; failure to benefit from partnerships or successfully integrate acquisitions; exchange rate fluctuations; adverse U.S., Canadian and global economic conditions; sensitivity of end-customers to increased sales taxes and economic conditions; failure to comply with certain regulations; departure of key management personnel or inability to attract and retain talent; risks associated with the e-cigarette, vaporizer and e-liquid industry in general; actions and initiatives of federal, state and provincial governments and changes to government actions, initiatives and policies and the execution and impact thereof; import/export and research restriction; and the size of the global e-cigarette and vaping market.

Except as required by applicable laws, the Company does not undertake any obligation to publicly update or revise any forward-looking statements.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

SOURCE Target Capital Inc.


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