TORONTO, Feb. 26, 2018 /CNW/ - Cronos Group Inc. (TSX-V: MJN) (OTC Nasdaq Int'l Designation: PRMCF) ("Cronos Group" or the "Company") is pleased to announce that trading of its common shares in the United States will be elevated from the Nasdaq International Designation program to the Nasdaq Global Market ("Nasdaq").
Cronos Group expects that its common shares will begin trading on Nasdaq on February 27, 2018 under the trading ticker symbol "CRON." Cronos Group will retain its listing on the TSX Venture Exchange ("TSX-V") under the symbol "MJN."
"This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint," said Mike Gorenstein, CEO of Cronos Group. "We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors."
About Cronos Group
Cronos Group is a globally diversified and vertically integrated cannabis company with a presence across four continents. The Company operates two wholly-owned Canadian Licensed Producers regulated under Health Canada's Access to Cannabis for Medical Purposes Regulations: Peace Naturals Project Inc. (Ontario), which was the first non-incumbent medical cannabis license granted by Health Canada, and Original BC Ltd. (British Columbia), which is based in the Okanagan Valley. The Company has multiple international production and distribution platforms including: Cronos Israel and Cronos Australia. Through an exclusive distribution agreement, Cronos Group has access to over 12,000 pharmacies in Germany. The Company is rapidly expanding its global footprint as it focuses on building an international iconic brand portfolio and developing disruptive intellectual property. Cronos Group is committed to building industry leading companies that transform the perception of cannabis and responsibly elevate the consumer experience.
This press release contains forward-looking statements. These forward-looking statements, by their nature, require the Company to make certain assumptions and necessarily involve known and unknown risks and uncertainties that could cause actual results to differ materially from those expressed or implied in these forward-looking statements. Words such as "may", "will", "would", "could", "expect", "believe", "plan", "anticipate", "intend", "estimate", "continue", or the negative or comparable terminology, as well as terms usually used in the future and the conditional, are intended to identify forward-looking statements. Information contained in forward-looking statements is based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection. The Company considers its assumptions to be reasonable based on information currently available, but cautions the reader that its assumptions regarding future events, many of which are beyond the control of the Company, may ultimately prove to be incorrect since they are subject to risks and uncertainties that affect the Company and its business.
For additional information with respect to these and other factors and assumptions underlying the forward-looking statements made in this press release, refer to the Company's most recent Annual information Form filed on SEDAR. The forward-looking information set forth herein reflects the Company's expectations as at the date of this press release and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, other than as required by law.
SOURCE Cronos Group Inc.
For further information: For media inquiries please contact: Jennifer Homa, MWWPR, Tel: 646-376-7045, [email protected]; Please contact Cronos Group Inc: Mike Gorenstein, Chief Executive Officer, Tel: (416) 504-0004, [email protected]