Yes you can use that product. However, I encourage you to try varying ratios to see what works best. I typically recommend 1:1 or 2CBD:1THC for insomnia. Care By Design offers both 1:1 and 2:1 if interested.
Although, because your main problem is waking in the middle of the night, a vaporizer pen would help you fall back asleep more quickly than a spray/tincture/oil/edible would . Here’s a great vape pen specifically formulated for insomnia;