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]

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]

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 ...

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]

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 ...

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 ...

Core Viewpoint - Sector and stock rotation is a common phenomenon in investing, with current hot stocks likely to become forgotten in the future, suggesting a good time to sell overhyped stocks and consider quality growth stocks that have been overlooked [1] Group 1: Growth Stocks Overview - After a period of correction, certain growth stocks appear attractive from a valuation perspective, with expectations of robust revenue growth and potential for significant cash flow generation in the coming years [2] - Pinterest (PINS) has seen a 73% increase in stock price over the last 12 months, with a forward P/E of 28.6, indicating further upside potential [3] - For Q1 2024, Pinterest reported a 23% year-on-year revenue growth to $740 million and a 12% increase in monthly active users to 518 million [4] - Pinterest's global average revenue per user (ARPU) was $1.46 in Q1, with significant growth potential in emerging markets, particularly as ARPU in the U.S. and Canada was $6.05 compared to $0.86 in Europe and $0.11 in the rest of the world [5] Group 2: First Solar (FSLR) - First Solar has surged by 57% year-to-date, with a forward P/E of 20 suggesting sustained upside momentum [6] - The company reported an order backlog of 78.3 GW extending through 2030, with additional booking opportunities of 72.8 GW, indicating strong revenue growth prospects [7] - By the end of 2026, First Solar's global annual nameplate capacity is expected to reach 25 GW, enhancing production capabilities to meet increasing demand [8] Group 3: Cronos Group (CRON) - Cronos Group has strong fundamentals despite being overlooked in the cannabis sector, with potential for 20x to 30x returns if regulatory challenges diminish [9] - As of Q1 2024, Cronos reported a cash buffer of $855 million, positioning the company well for growth amid regulatory changes, particularly with Germany legalizing cannabis [10] - The company has entered new markets in Germany, Australia, and the United Kingdom, which will support growth acceleration and margin improvement through potential operating leverage [11]

TORONTO, May 29, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) ("Cronos" or the "Company"), an innovative global cannabinoid company, today announced that Mike Gorenstein, Chairman, President and CEO, will speak at Bernstein's 40th Annual Strategic Decisions Conference on Thursday, May 30, 2024, at 2:30PM ET. A live webcast will be available on the Investors section of the Company's website at https://ir.thecronosgroup.com/events-presentations. About Cronos Group Inc. Cronos is an inno ...