TORONTO, Feb. 27, 2017 /CNW/ - Cronos Group Inc., formerly PharmaCan Capital Corp., (TSX VENTURE: MJN) ("Cronos Group" or "the Company"), is excited to announce the Company's recent recognition as the top performer in the 2017 TSX Venture 50, an award reserved for the best performing publicly traded companies on the TSX Venture Exchange over the past year. Cronos Group delivered the highest stock price appreciation in the Diversified Industries sector and has continued this momentum into 2017.
"This recognition is validation for our shareholders as we continue on our mission of building industry leading companies that transform the perception of cannabis. Our goal is to establish the most valuable cannabis community in the world comprised of both internal and external stakeholders who are determined to write history, not read about it. As we continue to grow on a global scale, I am confident that we can continue this success as we look to secure our role as a market leader and innovator in the industry," says Mike Gorenstein, Cronos Group's CEpuO.
The TSX Venture 50 is a ranking of the top ten performing companies from each of the five industry sectors including Clean Technology and Life Sciences, Diversified Industries, Mining, Oil & Gas, and Technology. The award is given to companies that have shown results in key measures of market performance based on three equally weighted criteria: market capitalization growth, share price appreciation and trading volume.
Concurrent to this news, the Company is pleased to announce the completion of the official name change of the Company to "Cronos Group Inc.," which was approved by shareholders at the special meeting of shareholders held on Friday.
The common shares of the Company will begin trading under the new name on the TSX-V once all regulatory requirements have been satisfied. The Company will continue to trade under the symbol "MJN" on the TSX-V.
About The Cronos Group
Cronos Group, is a geographically diversified and vertically integrated cannabis company that operates two wholly-owned Licensed Producers ("LPs") regulated within Health Canada's Access to Cannabis for Medical Purposes Regulations (the "ACMPR") and holds a portfolio of minority investments in other Licensed Producers and ACMPR applicants. The Company's flagship LPs, Peace Naturals Project Inc. (Ontario), and In The Zone Produce Ltd. (British Columbia) are collectively situated on over 125 acres of agricultural land and are currently licensed to produce 2,600 kg of cannabis on an annual basis. The Company also holds minority equity positions in Licensed Producers Whistler Medical Marijuana, Hydropothecary, and Abcann Medicinals. With interest in five Licensed Producers and two LP applicants, Cronos Group is focused on building an iconic brand portfolio, providing patients with compassionate and personalized care, and creating value for our shareholders.
This news release may contain "forward-looking information" and "forward-looking statements" within the meaning of applicable Canadian securities legislation. All information contained herein that is not clearly historical in nature may constitute forward-looking information. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance. Except as required by law, the Company disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements. This news release contains information obtained by the Company from third parties and believes such information to be accurate but has not independently verified such information.
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 release.
For more information, please visit www.thecronosgroup.com.
SOURCE Cronos Group Inc.
For further information: Michael Krestell, Investor & Media Relations, TEL: (416) 603-7381 EXT #236, E-mail: [email protected]