Canabo Medical, Owner and Operator of Canada's Largest Physician Led Referral-Only Cannabinoid Clinics, Updates Shareholders - Video Available on InvestmentPitch.com

Vancouver, British Columbia--(Newsfile Corp. - June 9, 2017) - Canabo Medical CMM CAMDF, which owns and operates Cannabinoid Medical Clinics, or CMClinics, Canada's largest physician led referral-only clinics for medical cannabis, has issued a corporate update, following the company's first 6 months of trading on the TSX Venture Exchange.

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Dr. Neil Smith, Executive Chairman, outlined a number of key accomplishments that support the company's business focus toward being the dominant clinic network, research provider and data analytics source in the cannabis industry.

• Canabo treatments are now available in 16 clinic locations nationally, up from 10 locations at the time of listing.
• The company is also expanding its clinic footprint through agreements to open up to 30 partners clinic locations across the country.
• The company has cash on hand of approximately $8.5 million or $0.22 per share.
• The company entered into an R&D Agreement with Terra Life Sciences to develop condition specific treatments, which are expected to result in both near-term research study revenue and ultimately licensing revenue from any new treatments developed.
• The company released a milestone study on benzodiazepine use, showing a marked drop in use among Canadian patients using medical marijuana treatments.
• A partnership with Rapid Interactive Disability Management was formed, resulting in a new revenue stream through the completion of Independent Medical Evaluations, which are required by Canadian employers and insurance providers, in cannabis cases.

Dr. Neil Smith, Executive Chairman of Canabo, stated: "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. In December, an $8.4 million financing was completed by Aphria Inc. at $1.40 per share. As a result, Canabo is well-funded and on target to achieve a cash flow positive run-rate by year's end."

Canabo has a database of more than 2 million data points, possibly the largest medical database in existence, which is growing monthly. The company expects to announce new research projects over the next 6 to 12 months.

A November 2016 report by Canacccord Genuity stated: "We believe increased ease of access, education on the therapeutic benefits of cannabis, and a decrease in the historical stigma associated with marijuana use has resulted in a medical patient base in Canada that is currently in excess of 100,000 patients — a significant uptake from only a few thousand registrants a couple of years ago. Further, we believe this patient base is set to more than quadruple over the next five years. We estimate that by 2021 there will be ~500,000 registered patients in Canada who rely on cannabis as a medical therapy."

The shares are trading at $0.40, and with 38 million shares outstanding, the company is capitalized at $15.2 million. For more information please visit the company's website www.canabocorp.com, or contact Bianca Muller at 902-334-1700 or email bmuller@canabocorp.com.

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