Cronos Group(CRON)

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Cronos Group Inc. to Reconvene Virtual 2024 Annual Meeting of Shareholders
Newsfilter· 2024-07-05 20:30
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 ...
7 Growth Stocks That Will Outperform the Markets Through 2028
Investor Place· 2024-06-27 14:15
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 ...
Cronos Brand Spinach® Celebrates Summer with New Launches
GlobeNewswire News Room· 2024-06-27 11:30
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]
Cronos Brand Spinach® Celebrates Summer with New Launches
Newsfilter· 2024-06-27 11:30
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].
Cronos Group Inc. Announces Results of 2024 Annual Meeting of Shareholders
Newsfilter· 2024-06-21 20:30
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]
Cronos Group Inc. Announces Results of 2024 Annual Meeting of Shareholders
GlobeNewswire News Room· 2024-06-21 20:30
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 71.75% of the total common shares voted, totaling 274,097,252 shares [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]
Cronos Group Announces Expansion of GrowCo to Fuel Global Growth
Newsfilter· 2024-06-20 12:12
TORONTO, June 20, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) ("Cronos" or the "Company"), an innovative global cannabinoid company, announced an expansion of Cronos Growing Company ("GrowCo"). GrowCo is a leading cannabis cultivation company that Cronos owns 50% of. The investment will be funded by an additional credit facility provided by Cronos and is intended to assist GrowCo's expansion of its purpose-built cannabis facility to address the increased global market demand for hi ...
Cronos Group Announces Expansion of GrowCo to Fuel Global Growth
GlobeNewswire News Room· 2024-06-20 12:12
Core Insights - Cronos Group Inc. announced an expansion of its cannabis cultivation company, GrowCo, to meet increased global demand for high-quality cannabis flower [17] - The investment will be funded by a $51 million secured non-revolving credit facility provided by Cronos, aimed at expanding GrowCo's facility in Leamington, Ontario [8][14] - GrowCo has demonstrated strong financial performance, with positive net income and cash flow in 2023, and has sold approximately $20 million of biomass to third parties [2] Financial Performance - In 2023, Cronos purchased approximately $21 million of biomass from GrowCo, indicating a strong partnership and demand for GrowCo's products [2] - GrowCo's gross margins are expected to be accretive on a consolidated basis, contributing positively to Cronos' overall financial health [2] Supply Agreement - A supply agreement allows Cronos to purchase approximately 80% of GrowCo's production before the first sale from the newly constructed area, and 70% annually thereafter [4] - The supply agreement is set to remain in place for four years, ensuring a stable supply chain for Cronos [4] Expansion Plans - The credit facility will enable GrowCo to expand its production capabilities, addressing both current market needs and future growth opportunities [8][9] - Construction of the facility expansion is contingent upon obtaining necessary permits and licenses, with operations expected to commence in the second half of 2025 [11][14] Governance Changes - The GrowCo board of directors will expand to five members, with three appointed by Cronos, enhancing governance and oversight [8] Market Strategy - Cronos aims to leverage GrowCo's expansion to enhance its ability to supply existing markets and explore new international opportunities [9]
3 Meme Stocks Under $10 That Will Double in 3 Months
Investor Place· 2024-06-19 11:41
Bitfarms (BITF) On the business front, the Bitcoin miner has a robust liquidity buffer and is planning aggressive hash rate capacity expansion. Currently, Bitfarms has a capacity of 7.5EH/s and plans to increase capacity to 21EH/s by the end of the year. Recently, the miner announced a guidance of over 35EH/s by the end of 2025. Cronos (NASDAQ:CRON) stock seems best positioned to benefit from relatively a friendly regulatory stance. The company has a strong cash buffer of $855 million that's likely to be us ...
7 Growth Stocks to Buy and Forget for 30X Returns by 2030
Investor Place· 2024-06-12 18:10
Bitcoin (BTC-USD) has been consolidating around $70,000 levels. This is a good opportunity to accumulate quality crypto stocks before the next big move. Among Bitcoin miners, Riot Platforms (NASDAQ:RIOT) looks massively undervalued at a forward P/E of 16.5. With ambitious growth plans and strong fundamentals, RIOT stock is worth considering. As of Q1 2024, Riot's balance sheet was zero-debt. The Bitcoin miner reported a cash buffer (including digital assets) of $1.3 billion. Therefore, Riot has high financi ...