X0306 4 2016-02-03 0001619551 CB Pharma Acquisition Corp. CNLM 0000941841 ROSENWALD LINDSAY A MD C/O CB PHARMA ACQUISITION CORP. 24 NEW ENGLAND EXECUTIVE PARK, SUITE 105 BURLINGTON MA 01803 1 1 1 0 Co-Chairman and CEO 0001429260 Fortress Biotech, Inc. 3 COLUMBUS CIRCLE, 15TH FLOOR NEW YORK NY 10019 0 0 1 0 Convertible Promissory Note 10.00 2016-02-03 4 A 0 10000 A Units 10000 25000 I by Fortress Biotech, Inc. The promissory note is convertible, at the Reporting Person's option, at the closing of the Issuer's initial business combination. Each Unit consists of one ordinary share, one right to receive one-tenth (1/10) of an ordinary share on the consummation of an initial business combination and one redeemable warrant to purchase one-half of one ordinary share at a price of $11.50 per full share, as further described in the Issuer's final prospectus dated December 12, 2014. The convertible promissory note was issued in consideration of a loan made by the Reporting Person to the Issuer in the amount of $100,000. Mr. Rosenwald is the Chairman, President and Chief Executive Officer of Fortress Biotech, Inc. (formerly Coronado Biosciences, Inc.), and as such, controls the voting and disposition of such securities. Mr. Rosenwald disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest therein, and this report shall not be deemed an admission that Mr. Rosenwald is the beneficial owner of these securities for puposes of Section 16 or for any other purpose. /s/ Lindsay A. Rosenwald 2016-02-04