Dec 27, 2017, 08:30 ET
TORONTO, Dec. 27, 2017 /CNW/ - Cronos Group Inc. (TSX-V: MJN) (OTC – Nasdaq Int'l Designation: PRMCF) ("Cronos" or the "Company") is pleased to announce that its first shipment to G. Pohl-Boskamp GmbH & Co. KG ("Pohl-Boskamp") of Peace Naturals ("Peace") branded products is now available for sale across retail locations throughout Germany. Peace is a wholly-owned licensed producer operated by Cronos, and Pohl-Boskamp is an international pharmaceutical manufacturer with distribution into over 12,000 pharmacies in Germany.
With over 82 million people, Germany is the largest federally legal cannabis market in the world, and Pohl-Boskamp's distribution network provides Cronos access to patients with insurance coverage for medicinal cannabis.
"This marks a key milestone for Cronos by solidifying the largest international distribution platform in the industry and providing an unprecedented supply of high-quality medical cannabis products to German patients," said Mike Gorenstein, CEO of Cronos.
Pohl-Boskamp is a privately-owned business that has been active in the international pharmaceutical market for 182 years with commercialized products in more than 45 countries. Through close collaboration with its partners abroad, Pohl-Boskamp focuses on developing and marketing products that positively impact patients' quality of life. It operates in numerous healthcare sectors including pneumology, urology, parasitology, cardiovascular diseases, gastroenterology, sleep disorders, and dermatology. For more information visit https://www.pohl-boskamp.de/de/start/.
About 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. The Company's flagship LPs, Peace Naturals Project Inc. (Ontario) and Original BC Ltd. (British Columbia), are collectively situated on over 125 acres of agricultural, licensed land. Cronos Group is focused on building an international iconic brand portfolio, providing patients with 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, Cronos Group 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 Cronos Group from third parties. Cronos Group 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: 647-274-3655, E-mail: [email protected]
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