[Executive Summary & Q2 2024 Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Q2%202024%20Highlights) Cronos Group achieved record net revenue in Q2 2024, driven by strong international growth and strategic investments, while maintaining a robust balance sheet [Q2 2024 Performance Overview](index=1&type=section&id=Q2%202024%20Performance%20Overview) Cronos Group achieved record net revenue in Q2 2024, driven by strong international growth and strategic investments, while maintaining a robust balance sheet - Cronos Group reported its highest quarterly net revenue on record in **Q2 2024**[1](index=1&type=chunk) Q2 2024 Key Performance Indicators | Metric | Q2 2024 (USD) | YoY Change (%) | | :----------------- | :------------ | :------------- | | Net Revenue | $27.8 million | 46% | | Canada Revenue | | 46% | | Israel Revenue | | 27% | | Cash & Equivalents | $848 million | | [Strategic Initiatives & Brand Performance](index=1&type=section&id=Strategic%20Initiatives%20%26%20Brand%20Performance) Strategic investment in Cronos GrowCo secures biomass for global growth, while key brands Spinach, Lord Jones, and PEACE NATURALS show strong market presence and innovation - Investment in Cronos GrowCo is intended to ensure consistent supply of high-quality cannabis biomass, fueling global growth initiatives[2](index=2&type=chunk) - Spinach brand continues to lead in Canada with new introductions like Spinach Grindz™ and SOURZ Fully Blasted **10mg THC gummies**[2](index=2&type=chunk) - Lord Jones brand enhanced offerings with new vape and pre-roll products, strengthening market presence[2](index=2&type=chunk) - PEACE NATURALS expanded into the UK and solidified its top-tier position in the German market, while focusing on new high-quality strains in Israel[2](index=2&type=chunk) [Consolidated Financial Results](index=2&type=section&id=Consolidated%20Financial%20Results) This section details Cronos Group's Q2 2024 and year-to-date financial performance, including revenue, profit, loss, and cash flows, reflecting continuing operations [Overview of Continuing Operations](index=2&type=section&id=Overview%20of%20Continuing%20Operations) In Q2 2023, Cronos Group exited its U.S. hemp-derived CBD operations, reclassifying them as discontinued operations. All presented financial results for current and prior periods reflect continuing operations - The Company exited its U.S. hemp-derived CBD operations in **Q2 2023**, which are now reported as discontinued operations[3](index=3&type=chunk) [Key Financial Highlights (Q2 & YTD)](index=2&type=section&id=Key%20Financial%20Highlights%20%28Q2%20%26%20YTD%29) Cronos Group reported significant year-over-year improvements in net revenue, gross profit, and Adjusted EBITDA for both Q2 2024 and the six months ended June 30, 2024. Net loss increased in Q2 2024 primarily due to an impairment loss on other investments, but improved for the six-month period Consolidated Financial Highlights (Continuing Operations, in thousands of USD) | Metric | Three months ended June 30, 2024 | Three months ended June 30, 2023 | Change ($) | Change (%) | | :---------------------- | :------------------------------- | :------------------------------- | :--------- | :--------- | | Net revenue | $27,762 | $19,021 | $8,741 | 46% | | Cost of sales | $21,070 | $15,922 | $5,148 | 32% | | Inventory write-down | $395 | — | $395 | N/A | | Gross profit | $6,297 | $3,099 | $3,198 | 103% | | Gross margin | 23% | 16% | N/A | 7 pp | | Net loss | $(8,759) | $(5,663) | $(3,096) | (55)% | | Adjusted EBITDA | $(11,051) | $(15,905) | $4,854 | 31% | | Cash and cash equivalents (period end) | $848,189 | $409,428 | $438,761 | 107% | | Capital expenditures | $916 | $502 | $414 | 82% | | Metric | Six months ended June 30, 2024 | Six months ended June 30, 2023 | Change ($) | Change (%) | | :---------------------- | :------------------------------- | :------------------------------- | :--------- | :--------- | | Net revenue | $53,050 | $38,516 | $14,534 | 38% | | Cost of sales | $41,875 | $32,490 | $9,385 | 29% | | Inventory write-down | $395 | — | $395 | N/A | | Gross profit | $10,780 | $6,026 | $4,754 | 79% | | Gross margin | 20% | 16% | N/A | 4 pp | | Net loss | $(11,243) | $(23,698) | $12,455 | 53% | | Adjusted EBITDA | $(21,720) | $(31,587) | $9,867 | 31% | | Capital expenditures | $2,910 | $1,306 | $1,604 | 123% | - The increase in quarterly net loss year-over-year was primarily driven by an impairment loss on other investments in **Q2 2024**[4](index=4&type=chunk) - Adjusted EBITDA improved by **$4.9 million** in Q2 2024, driven by increased gross profit and reduced sales and marketing, and general and administrative expenses[5](index=5&type=chunk) [Condensed Consolidated Balance Sheets](index=10&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2024, Cronos Group maintained a strong cash position, with cash and cash equivalents increasing significantly from December 31, 2023. Total assets slightly decreased, while total liabilities also saw a reduction Condensed Consolidated Balance Sheets (in thousands of USD) | Asset/Liability/Equity | As of June 30, 2024 | As of December 31, 2023 | | :------------------------------ | :------------------ | :---------------------- | | Cash and cash equivalents | $848,189 | $669,291 | | Short-term investments | — | $192,237 | | Total current assets | $935,278 | $933,306 | | Total assets | $1,091,048 | $1,140,085 | | Total current liabilities | $33,057 | $41,399 | | Total liabilities | $35,256 | $43,961 | | Total shareholders' equity | $1,055,792 | $1,096,124 | [Condensed Consolidated Statements of Net Loss and Comprehensive Income (Loss)](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Net%20Loss%20and%20Comprehensive%20Income%20%28Loss%29) For Q2 2024, the company reported a net loss of $8.759 million from continuing operations, an increase from Q2 2023, primarily due to an impairment loss on other investments. However, the net loss for the six-month period significantly improved year-over-year Condensed Consolidated Statements of Net Loss (in thousands of USD) | Metric | Three months ended June 30, 2024 | Three months ended June 30, 2023 | | :------------------------------------ | :------------------------------- | :------------------------------- | | Net revenue | $27,762 | $19,021 | | Gross profit | $6,297 | $3,099 | | Operating loss | $(15,561) | $(20,620) | | Total other income | $4,628 | $14,777 | | Loss before income taxes | $(10,933) | $(5,843) | | Loss from continuing operations | $(8,759) | $(5,663) | | Loss from discontinued operations | — | $(2,834) | | Net loss | $(8,759) | $(8,497) | | Net loss attributable to Cronos Group | $(8,757) | $(8,360) | | Basic and diluted - total (per share) | $(0.02) | $(0.02) | | Metric | Six months ended June 30, 2024 | Six months ended June 30, 2023 | | :------------------------------------ | :------------------------------- | :------------------------------- | | Net revenue | $53,050 | $38,516 | | Gross profit | $10,780 | $6,026 | | Operating loss | $(31,509) | $(41,389) | | Total other income | $17,534 | $16,075 | | Loss before income taxes | $(13,975) | $(25,314) | | Loss from continuing operations | $(11,243) | $(23,698) | | Loss from discontinued operations | — | $(4,056) | | Net loss | $(11,243) | $(27,754) | | Net loss attributable to Cronos Group | $(10,998) | $(27,529) | | Basic and diluted - total (per share) | $(0.03) | $(0.07) | [Condensed Consolidated Statements of Cash Flows](index=12&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Cash flows used in operating activities significantly decreased for the six months ended June 30, 2024, indicating improved operational efficiency. Investing activities provided a substantial cash inflow, primarily from proceeds from short-term investments, leading to a positive net change in cash and cash equivalents Condensed Consolidated Statements of Cash Flows (in thousands of USD) | Activity | Six months ended June 30, 2024 | Six months ended June 30, 2023 | | :------------------------------------------------ | :----------------------------- | :----------------------------- | | Cash flows used in operating activities | $(460) | $(59,467) | | Cash flows provided by (used in) investing activities | $180,999 | $(298,964) | | Cash flows used in financing activities | $(905) | $(782) | | Net change in cash and cash equivalents | $178,898 | $(355,216) | | Cash and cash equivalents, end of period | $848,189 | $409,428 | - Interest received for the six months ended June 30, 2024, was **$28.291 million**, a significant increase from **$13.385 million** in the prior year[25](index=25&type=chunk) [Non-GAAP Measures: Adjusted EBITDA Reconciliation](index=13&type=section&id=Non-GAAP%20Measures%3A%20Adjusted%20EBITDA%20Reconciliation) Adjusted EBITDA, a non-GAAP measure, improved significantly year-over-year for both the three and six months ended June 30, 2024. This improvement was driven by increased gross profit and reduced operating expenses, excluding non-cash items and other adjustments such as impairment losses and share-based compensation - Adjusted EBITDA for Q2 2024 was **$(11.051) million**, an improvement of **31%** from Q2 2023[4](index=4&type=chunk)[28](index=28&type=chunk) - Adjusted EBITDA for the six months ended June 30, 2024, was **$(21.720) million**, an improvement of **31%** from the prior year period[4](index=4&type=chunk)[30](index=30&type=chunk) - Key adjustments to Net Loss to arrive at Adjusted EBITDA include interest income, income tax benefit, depreciation and amortization, share of income from equity method investments, impairment losses on other investments, foreign currency transaction gain/loss, restructuring costs, and share-based compensation[27](index=27&type=chunk)[28](index=28&type=chunk)[30](index=30&type=chunk) [Constant Currency Analysis](index=17&type=section&id=Constant%20Currency%20Analysis) On a constant currency basis, net revenue and gross profit showed even stronger growth, while operating expenses decreased, and Adjusted EBITDA improved for both the three and six months ended June 30, 2024. Cash and cash equivalents and short-term investments saw a slight decrease due to strategic investments Constant Currency Financial Performance (Three Months Ended June 30) | Metric | As Reported Q2 2024 (in thousands of USD) | Constant Currency Q2 2024 (in thousands of USD) | Change (%) (Constant Currency) | | :---------------------- | :---------------------------------------- | :---------------------------------------------- | :----------------------------- | | Net revenue | $27,762 | $28,290 | 49% | | Gross profit | $6,297 | $6,434 | 108% | | Gross margin | 23% | 23% | 7 pp | | Operating expenses | $21,858 | $21,861 | (8)% | | Net loss from continuing operations | $(8,759) | $(8,162) | (44)% | | Adjusted EBITDA | $(11,051) | $(10,863) | 32% | Constant Currency Financial Performance (Six Months Ended June 30) | Metric | As Reported YTD 2024 (in thousands of USD) | Constant Currency YTD 2024 (in thousands of USD) | Change (%) (Constant Currency) | | :---------------------- | :----------------------------------------- | :----------------------------------------------- | :----------------------------- | | Net revenue | $53,050 | $53,795 | 40% | | Gross profit | $10,780 | $10,983 | 82% | | Gross margin | 20% | 20% | 4 pp | | Operating expenses | $42,289 | $42,336 | (11)% | | Net loss from continuing operations | $(11,243) | $(10,643) | 55% | | Adjusted EBITDA | $(21,720) | $(21,508) | 32% | - Constant currency net revenue growth was primarily driven by higher cannabis flower and extract sales in Canada, higher cannabis flower sales in Israel, and sales in other international markets (Germany and UK)[39](index=39&type=chunk) - Operating expenses decreased on a constant currency basis due to lower advertising and marketing spend, reduced costs associated with Ginkgo milestones, lower professional fees, and decreased salaries, benefits, and insurance costs[41](index=41&type=chunk) - Cash and cash equivalents and short-term investments on a constant currency basis decreased **1%** to **$852.8 million** as of June 30, 2024, primarily due to advances of loans receivable and purchases of property, plant and equipment[44](index=44&type=chunk) [Business Updates](index=3&type=section&id=Business%20Updates) Cronos Group expanded Cronos GrowCo to secure biomass and showcased strong market performance and product innovation across its Spinach, Lord Jones, and PEACE NATURALS brands [Cronos GrowCo Expansion](index=3&type=section&id=Cronos%20GrowCo%20Expansion) Cronos Group announced an expansion of Cronos GrowCo, providing a $51 million credit facility to fund facility expansion. This investment aims to meet increased global demand for high-quality cannabis flower, with Cronos having options to purchase a significant portion of GrowCo's production and consolidating GrowCo's results from Q3 2024 - Cronos provided an approximately **$51 million ($70 million CAD)** secured non-revolving credit facility to Cronos GrowCo for facility expansion[7](index=7&type=chunk) - Cronos will have the option to purchase up to **80%** of Cronos GrowCo's total production before the expanded facility's sales commence, and up to **70%** thereafter[7](index=7&type=chunk) - Cronos will consolidate Cronos GrowCo's financial results starting in **Q3 2024**[7](index=7&type=chunk) - The expansion is intended to address the shortage of high-quality biomass in the Canadian cannabis market and support potential additional market expansion[8](index=8&type=chunk) [Brand and Product Portfolio](index=3&type=section&id=Brand%20and%20Product%20Portfolio) Cronos Group's brand portfolio, including Spinach, Lord Jones, and PEACE NATURALS, demonstrated strong market performance and continuous product innovation across various categories and geographies [Spinach Brand Performance](index=3&type=section&id=Spinach%20Brand%20Performance) Spinach maintained strong market shares in Canadian edibles, flower, and vape categories in Q2 2024, introducing innovative products like SOURZ Fully Blasted 10mg THC edibles and Spinach Grindz™ - Spinach held a **15.6%** market share in the edibles category in **Q2 2024**[9](index=9&type=chunk) - Spinach became the number one flower brand in Canada with a **6.2%** market share in **Q2 2024**[9](index=9&type=chunk) - The brand was ranked fourth in the vape category with a **6.8%** market share in **Q2 2024**[9](index=9&type=chunk) - Spinach's pre-roll category grew **+17%** year-over-year in Q2 2024, outpacing the category growth of **+9%**[9](index=9&type=chunk) [Lord Jones Brand Performance](index=4&type=section&id=Lord%20Jones%20Brand%20Performance) Lord Jones Hash Fusions pre-rolls became the number one hash-infused pre-roll in Q2 2024, with expanded offerings including Sour Blueberry and Snow Lotus strains. The brand also introduced Gorilla Z to its live resin vape portfolio, focusing on high-quality, true-to-plant experiences - Lord Jones Hash Fusions pre-rolls rose to be the number one hash infused pre-roll in **Q2 2024**[10](index=10&type=chunk) - Expanded infused pre-roll offerings with Sour Blueberry and Snow Lotus strains in April[10](index=10&type=chunk) - Introduced Gorilla Z to the Lord Jones live resin vape portfolio in April 2024[10](index=10&type=chunk) [International Operations & Global Supply Chain](index=4&type=section&id=International%20Operations%20%26%20Global%20Supply%20Chain) PEACE NATURALS maintains strong performance in Israel and expands into Germany and the UK, while Cronos GrowCo reported significant third-party revenue and cash payments to Cronos - PEACE NATURALS brand drives strong performance in Israel, maintaining and growing market share with global genetics like Wedding Cake and GMO[11](index=11&type=chunk) - Strong traction for PEACE NATURALS proprietary genetics (GMO and Wedding Cake) in Germany and the UK[11](index=11&type=chunk) - Cronos GrowCo reported preliminary unaudited net revenue to third parties of approximately **$2.7 million** in **Q2 2024**[11](index=11&type=chunk) - Cronos received approximately **$2.6 million** in cash payments from Cronos GrowCo in Q2 2024, including a **$1.2 million** principal repayment and **$1.4 million** in interest payments[11](index=11&type=chunk) [Guidance and Outlook](index=4&type=section&id=Guidance%20and%20Outlook) Cronos Group reiterates operating expense savings targets, revises cash outlook due to GrowCo investment, and monitors the Middle East Conflict's impact on Israeli operations [Operating Expense Savings Target](index=4&type=section&id=Operating%20Expense%20Savings%20Target) Cronos Group reiterates its 2024 operating expense savings target of $5 to $10 million on a standalone basis, primarily from reductions in general and administrative, sales and marketing, and research and development expenses. These initiatives aim to drive profitable and sustainable growth - Company reiterates operating expense savings target of **$5 to $10 million** on a standalone basis in **2024**[12](index=12&type=chunk) - Savings are primarily driven by reductions in general and administrative, sales and marketing, and research and development expenses[12](index=12&type=chunk) [Cash and Investment Outlook](index=4&type=section&id=Cash%20and%20Investment%20Outlook) Due to the additional $51 million investment in Cronos GrowCo, the company no longer anticipates a positive net change in cash and cash equivalents and short-term investments for 2024. This investment is expected to expand GrowCo's facility and support future growth opportunities - Due to the **$51 million** investment in Cronos GrowCo, the company no longer anticipates a positive net change in cash and cash equivalents and short-term investments in **2024**[12](index=12&type=chunk) - The investment is expected to expand Cronos GrowCo's cannabis facility, aiding existing markets and potential new growth opportunities[12](index=12&type=chunk) [Middle East Conflict Impact](index=5&type=section&id=Middle%20East%20Conflict%20Impact) Cronos Group continues to monitor the Middle East Conflict and its potential impacts on personnel and business operations in Israel. The extent of future impacts remains highly uncertain, and recorded asset and liability amounts related to Israeli operations could change materially - Cronos continues to monitor the Middle East Conflict and its potential impacts on the Company's personnel and business in Israel[13](index=13&type=chunk) - The extent of impact is highly uncertain and cannot be predicted, with potential material changes to recorded assets and liabilities related to Israeli operations[13](index=13&type=chunk) [About Cronos Group](index=6&type=section&id=About%20Cronos%20Group) Cronos Group is an innovative global cannabinoid company focused on building disruptive intellectual property through cannabis research, technology, and product development. The company aims to responsibly elevate the consumer experience and boasts a diverse international brand portfolio including Spinach, PEACE NATURALS, and Lord Jones [Company Profile](index=6&type=section&id=Company%20Profile) Cronos Group is an innovative global cannabinoid company focused on building disruptive intellectual property through cannabis research, technology, and product development. The company aims to responsibly elevate the consumer experience and boasts a diverse international brand portfolio including Spinach, PEACE NATURALS, and Lord Jones - Cronos is a global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology, and product development[15](index=15&type=chunk) - The company's international brand portfolio includes Spinach®, PEACE NATURALS®, and Lord Jones®[15](index=15&type=chunk) [Forward-Looking Statements & Risk Factors](index=6&type=section&id=Forward-Looking%20Statements%20%26%20Risk%20Factors) This section details the nature and scope of forward-looking statements within the report, outlining key topics, underlying assumptions, and inherent risks that could materially affect future results [Nature of Forward-Looking Statements](index=6&type=section&id=Nature%20of%20Forward-Looking%20Statements) This section clarifies that the press release contains forward-looking information based on current expectations, estimates, and assumptions. These statements are not historical facts and are identified by specific terminology, covering future plans, expectations, and projections - The press release contains forward-looking information and statements based on current internal expectations, estimates, projections, assumptions, and beliefs[15](index=15&type=chunk) - Forward-Looking Statements can be identified by words like 'expect', 'likely', 'may', 'will', 'should', 'intend', 'anticipate', 'potential', 'proposed', 'estimate', and other similar expressions[15](index=15&type=chunk) [Key Forward-Looking Topics](index=6&type=section&id=Key%20Forward-Looking%20Topics) Forward-looking statements cover a wide range of topics, including the impact of the Anti-Dumping Investigation and Middle East Conflict on Israeli operations, expectations for German, Australian, and UK markets, cost-cutting measures, the exit from U.S. hemp operations, the Cronos GrowCo expansion, and the potential for future cannabis legalization - Forward-looking statements include expectations regarding the impact of the Anti-Dumping Investigation and the Middle East Conflict on operations in Israel[16](index=16&type=chunk) - Expectations related to the German, Australian, and UK markets, including strategic partnerships and distribution plans for the PEACE NATURALS brand[16](index=16&type=chunk) - Statements cover cost-cutting measures, the wind-down of operations at the Winnipeg facility, and the impact of exiting U.S. hemp-derived cannabinoid product operations[16](index=16&type=chunk) - Expectations related to the expansion of Cronos GrowCo's purpose-built cannabis facility and the ability to acquire raw materials from suppliers[16](index=16&type=chunk) - The company's ability to successfully create and launch brands and cannabis products, anticipate market demand, and differentiate products through rare cannabinoids[17](index=17&type=chunk) [Assumptions and Risks](index=8&type=section&id=Assumptions%20and%20Risks) Forward-looking statements are based on material assumptions, including the ability to navigate conflicts, realize cost savings, and successfully execute strategic partnerships. However, they are subject to inherent risks and uncertainties, such as regulatory changes, market competition, and the inability to achieve anticipated benefits from investments or operational changes, which could cause actual results to differ materially - Material assumptions include the ability to effectively navigate developments related to the Anti-Dumping Investigation and the Middle East Conflict, and to efficiently distribute the PEACE NATURALS brand in Germany and the UK[19](index=19&type=chunk) - Assumptions also cover the realization of expected cost-savings from the wind-down of the Winnipeg facility and the Realignment, and the timely completion of Cronos GrowCo's facility expansion[19](index=19&type=chunk) - Key risks include negative impacts on business due to the Anti-Dumping Investigation or Middle East Conflict, inability to achieve anticipated benefits from cost-cutting measures or strategic partnerships, lack of consumer demand, and adverse changes in regulatory requirements[19](index=19&type=chunk)[20](index=20&type=chunk) - Readers are cautioned not to place undue reliance on Forward-Looking Statements due to their inherent uncertainty and the possibility that assumptions may not be correct[21](index=21&type=chunk)

Net revenue in Q2 2024 increased by 46% year-over-year to $27.8 million Other Data Cash and cash equivalents(iv) $ 848,189 $ 409,428 $ 438,761 107 % Industry-leading balance sheet with $848 million in cash and cash equivalents Announced expansion of Cronos GrowCo designed to fuel global growth TORONTO, Aug. 08, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company") today announced its 2024 second quarter business results. "Cronos achieved its highest quarterly net ...

To attend the conference call or webcast, participants should register online at https://ir.thecronosgroup.com/events-presentations. To avoid delays, we encourage participants to dial into the conference call fifteen minutes ahead of the scheduled start time. The webcast of the call will be archived for replay on the Company's website. Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. ...

Core Points - Cronos Group Inc. announced that approximately 98.6% of shareholders approved the appointment of Davidson & Company LLP as the independent auditor for fiscal year 2024 during the Annual Meeting of Shareholders [1] - The Board of Directors was authorized to fix the independent auditor's remuneration [1] Company Overview - Cronos is an innovative global cannabinoid company focused on building disruptive intellectual property through cannabis research, technology, and product development [3] - The company aims to responsibly enhance the consumer experience and is developing an iconic brand portfolio, which includes brands like Spinach®, PEACE NATURALS®, and Lord Jones® [3]

Core Points - Cronos Group Inc. announced that approximately 98.6% of shareholders approved the appointment of Davidson & Company LLP as the independent auditor for fiscal year 2024 during the Annual Meeting of Shareholders [1] - The company is focused on building disruptive intellectual property through cannabis research, technology, and product development [2] - Cronos has a diverse international brand portfolio that includes Spinach®, PEACE NATURALS®, and Lord Jones® [2] Voting Results - The results of all matters voted on at the Annual Meeting can be found in the Report of Voting Results filed on the Company's SEDAR+ profile and the Form 8-K filed on EDGAR [3] Investor Relations - For further inquiries, Shayne Laidlaw from Investor Relations can be contacted via phone or email [4]

TORONTO, July 05, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) ("Cronos" or the "Company") announced today that it will reconvene its 2024 Annual Meeting of Shareholders on Friday, July 19, 2024, at 11:00 a.m. ET. Forward-looking Statements The Company's proxy statement and proxy supplement describing the formal business to be conducted at the meeting and containing detailed instructions about how to participate in the meeting are available on the Investors section of the Company's we ...

Source: Poetra.RH / Shutterstock.com Cronos (CRON) Cronos (NASDAQ:CRON) is among the best names to consider in the industry. It's worth noting that amidst tight regulations, Cronos had remained conservative in terms of expansion. This has translated into a strong cash buffer of $855 million. PACS Group (PACS) The first point to note is that PACS Group has ample headroom for facility expansion in the U.S. Aggressive acquisition of new facilities is likely in the coming years, which will support revenue growt ...

Core Insights - Cronos Group Inc. is expanding its Spinach® brand with new cannabis products, including SOURZ by Spinach® gummies and Spinach Grindz™ milled flower options, aimed at enhancing consumer experience during the summer months [2][3][7] Product Innovations - The SOURZ by Spinach® Fully Blasted gummies now contain 10 mg of THC per piece, with new tropical flavors introduced in the Tropical Party Pack [1][2] - New dual-flavors for gummies include Peach Passionfruit, Pineapple Coconut, and Strawberry Guava, catering to diverse consumer preferences [3] - Spinach Grindz™ offers ready-to-use milled flower options, appealing to value-conscious consumers seeking convenience [7] Market Positioning - The introduction of these products aligns with the growing demand for innovative cannabis offerings in the Canadian market, particularly during the summer season [2][7] - Cronos Group aims to build an iconic brand portfolio and develop disruptive intellectual property through continuous product innovation and research [9]

Core Viewpoint - Cronos Group Inc. is expanding its Spinach® brand with new cannabis products, including SOURZ by Spinach® edibles and Spinach Grindz™ milled flower, to cater to consumer demand during the summer months [1][8]. Product Innovations - The SOURZ by Spinach® Fully Blasted gummies now feature 10 mg of THC per gummy, available in a Tropical Party Pack with bold tropical flavors [2][7]. - Spinach Grindz™ offers ready-to-use milled flower options, appealing to value-conscious consumers seeking convenience, with strains including Citrus Crush and Cookie Dough [2][3][8]. Market Positioning - Cronos Group aims to enhance the consumer experience by continually innovating and providing high-quality cannabis products, positioning itself as a leader in the cannabis market [4][8]. - The company is committed to building a diverse international brand portfolio, which includes Spinach®, PEACE NATURALS®, and Lord Jones® [4].

Company Overview - Cronos Group Inc. is an innovative global cannabinoid company focused on advancing cannabis research, technology, and product development [3] - The company aims to build a disruptive intellectual property portfolio and an iconic brand portfolio, which includes brands like Spinach®, PEACE NATURALS®, and Lord Jones® [3] Shareholder Meeting Results - At the Annual Meeting of Shareholders held on June 20, 2024, shareholders representing 274,097,252 common shares, or 71.75% of the total outstanding shares, voted [5] - All nominated directors were elected with over 93.4% of votes in favor, with individual percentages ranging from 93.44% to 98.71% [1][6] - An advisory resolution on the compensation of named executive officers received 96.19% approval from shareholders [1] Auditor Appointment - The meeting was adjourned to allow the company to complete the search for a successor independent auditor, as the proposal for the appointment was not presented [6] - Shareholders will vote on the appointment of the successor independent auditor and the authorization of the Board to fix the auditor's remuneration at the reconvened meeting [6]