Cronos Announces Extension of Share Repurchase Program to the Toronto Stock Exchange

Cronos (NASDAQ: CRON, TSX: CRON) expanded its share repurchase flexibility by adding a TSX normal course issuer bid to its existing buyback program.

Rhea-AI Summary

Cronos (NASDAQ: CRON, TSX: CRON) expanded its share repurchase flexibility by adding a TSX normal course issuer bid to its existing buyback program.

The company may repurchase up to US$50 million or 18,712,918 common shares (about 5.02% of shares) across U.S. and Canadian marketplaces through May 13, 2027.

Positive

• Authorization to repurchase up to US$50 million of common shares
• Buyback cap of 18,712,918 shares, about 5.02% of outstanding shares
• Ability to repurchase on both Nasdaq and TSX trading facilities
• OSC exemption enabling higher buyback limits on U.S. marketplaces
• Daily TSX buyback limit of 53,968 shares, 25% of average volume

Negative

• None.

Argus Jun 17 session

+2.69% close to close Open Argus

Details

News Market Reaction – CRON

In the Jun 17 session, CRON gained 2.69%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

This announcement details how Cronos can execute its previously authorized US$50 million share repur...

Analysis

This announcement details how Cronos can execute its previously authorized US$50 million share repurchase across both Canadian and U.S. trading venues, including a TSX normal course issuer bid with a ceiling of 18,712,918 shares, or about 5.02% of its 373 million shares. It also outlines daily TSX limits of 53,968 shares and a regulatory exemption that sets boundaries based on outstanding shares and public float. Investors may watch actual buyback activity and future filings to gauge how aggressively the program is used.

Key Figures

Share repurchase size: US$50 million Maximum shares: 18,712,918 shares Program share limit: 5.02% +5 more

Share repurchase size

US$50 million

Total intended purchases for cancellation under Share Repurchase Program

Maximum shares

18,712,918 shares

Ceiling of common shares to be repurchased and cancelled

Program share limit

5.02%

Portion of 373 million issued and outstanding shares as of June 1, 2026

Shares outstanding

373 million shares

Issued and outstanding Cronos common shares as of June 1, 2026

Daily TSX purchase cap

53,968 shares

Maximum common shares purchasable on TSX in any trading day under NCIB

TSX average volume

215,873 shares

Average daily TSX trading volume for 6 months ended May 31, 2026

NCIB period length

approximately 11 months

Duration of TSX NCIB over which aggregate repurchases are measured

U.S. exemption threshold

5 percent of outstanding / 10 percent of public float

Maximum repurchases allowed on U.S. marketplaces under NCIB Exemption

Historical Context

5 past events · Latest: Jun 11

5 events

1. Jun 11

   Brand share milestone

   24h Move

   +0.4%

   Spinach® vape portfolio became top-selling vape brand in Canada.

2. May 11

   Earnings and buyback

   24h Move

   +8.3%

   Strong Q1 2026 results and authorization of new $50M share repurchase.

3. May 06

   Product expansion

   24h Move

   -0.4%

   Expansion of Spinach STIX® cylindrical-style pre-rolls across Canada.

4. Apr 29

   Annual meeting notice

   24h Move

   -2.6%

   Announcement of virtual-only 2026 annual shareholder meeting details.

5. Apr 20

   Earnings call notice

   24h Move

   +2.6%

   Scheduling of Q1 2026 earnings conference call with management Q&A.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

normal course issuer bid, toronto stock exchange, nasdaq global market, public float, +4 more

8 terms

normal course issuer bid regulatory

"notice of intention to make a normal course issuer bid (the “TSX NCIB”)."

A Normal Course Issuer Bid is when a company buys back its own shares from the stock market over time. This usually shows that the company believes its stock is undervalued and wants to support its price, which can be important for investors to watch.

toronto stock exchange regulatory

"filed with the Toronto Stock Exchange (the “TSX”), and the TSX has accepted"

The Toronto Stock Exchange is Canada’s largest organized marketplace where shares of publicly traded companies are bought and sold, similar to a large, regulated marketplace for company ownership. It matters to investors because it provides transparent prices, rules that help protect buyers and sellers, and access to many Canadian and international businesses, so movements there can signal economic trends and affect portfolio values.

nasdaq global market regulatory

"through the facilities of the Nasdaq Global Market or other U.S. published markets"

The Nasdaq Global Market is a section of the stock exchange where larger, well-established companies are listed and publicly traded. It functions like a marketplace where investors can buy and sell shares of these companies, providing them with access to capital and opportunities for growth. Its role is important because it helps investors identify and invest in reputable companies with strong financial backgrounds.

public float financial

"up to the greater of 5 percent of Cronos’s outstanding shares and 10 percent of Cronos' public float"

Public float is the total number of a company's shares that are available for trading by the general public. It excludes shares held by company insiders or large stakeholders who are unlikely to sell them easily. This figure helps investors understand how much of the company's stock is actively available, which can influence its liquidity and how easily its price might change.

form 10-q regulatory

"outlined in Cronos' quarterly report on Form 10-Q for the quarter ended June 30, 2026"

A Form 10-Q is a detailed report that publicly traded companies are required to file with regulators three times a year, providing an update on their financial health and business activities. It is important for investors because it offers timely insights into a company's performance, helping them make informed decisions about buying or selling stocks. Think of it as a regular check-up report that shows how well a company is doing.

edgar regulatory

"filed on EDGAR and SEDAR+."

EDGAR is a system used by companies to share important financial and business information with the public. It functions like an online filing cabinet where investors can access official reports and documents that help them understand a company's financial health and operations. This transparency allows investors to make more informed decisions, much like checking a company's report card before investing.

sedar+ regulatory

"filed on EDGAR and SEDAR+."

SEDAR+ is Canada’s centralized online system where publicly traded companies submit required regulatory documents such as financial reports, prospectuses and disclosure statements. It gives investors a single, searchable place — like a public library or online filing cabinet — to check a company’s official records for transparency, compare performance, and verify material information before making investment decisions.

ncib exemption regulatory

"Cronos obtained an exemption order (the "NCIB Exemption") from the Ontario Securities Commission"

An NCIB exemption is a regulatory allowance that lets a company buy back its own common shares outside the standard Normal Course Issuer Bid process required by securities regulators. Think of it as a shortcut that permits limited or special repurchases — for example small daily purchases or block trades — without the full public filing and timing rules. For investors, such exemptions can reduce share count and support the stock price, but they also change liquidity and signal management’s view of value.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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TORONTO, June 16, 2026 (GLOBE NEWSWIRE) -- Cronos Group Inc. (“Cronos” or the “Company”) (NASDAQ: CRON) (TSX: CRON), an innovative global cannabis company,  announced today that it has filed with the Toronto Stock Exchange (the “TSX”), and the TSX has accepted, the Company’s notice of intention to make a normal course issuer bid (the “TSX NCIB”).

As previously announced by Cronos, the Company’s Board approved a share repurchase program on May 8, 2026, which commenced on May 14, 2026 and is expected to terminate on May 13, 2027, unless earlier terminated (the “Share Repurchase Program”). Pursuant to the TSX NCIB, repurchases under the Share Repurchase Program may now also be made from time to time pursuant to the facilities of the TSX and other alternative Canadian trading systems, in addition to being made through open market purchases at then-prevailing market prices through the facilities of the Nasdaq Global Market or other U.S. published markets, privately negotiated transactions or otherwise, as previously announced. Pursuant to the Share Purchase Agreement entered into on May 14, 2026, Celadon Financial Group, LLC has been appointed as the Company’s agent to repurchase shares on its behalf. Any such repurchases will be executed through Virtu Canada Corp. when made over the facilities of the TSX or other alternative Canadian trading systems

Pursuant to the Share Repurchase Program (including the TSX NCIB), Cronos intends to purchase for cancellation up to US$50 million of common shares in the capital of the Company (the “Common Shares”) (in any case subject to a maximum of 18,712,918 Common Shares, representing approximately 5.02% of Cronos’ 373 million issued and outstanding Common Shares as at June 1, 2026).

Under the TSX NCIB, Cronos may purchase up to 53,968 of its Common Shares on the TSX during any trading day, which represents 25% of the average daily trading volume of 215,873 Common Shares on the TSX for the 6 months ended May 31, 2026, other than block purchase exemptions. Purchases under the TSX NCIB may commence on June 19, 2026 and continue until the date on which the Share Repurchase Program terminates as noted above.

The TSX NCIB will be conducted in accordance with TSX rules and policies through the facilities of the TSX. The price that Cronos will pay for any Common Shares will be the market price prevailing at the time of purchase or such other price as may be permitted.

Additionally, on June 15, 2026, Cronos obtained an exemption order (the "NCIB Exemption") from the Ontario Securities Commission, permitting Cronos to make repurchases under the Share Repurchase Program through the facilities of the NASDAQ and other United States-based trading systems in excess of the maximum that would otherwise be allowable under applicable Canadian securities laws absent an exemption. The NCIB Exemption allows Cronos to repurchase on such U.S. marketplaces up to the greater of 5 percent of Cronos’s outstanding shares and 10 percent of Cronos' public float, provided that Cronos' aggregate repurchases on all marketplaces do not exceed this amount over the approximately 11-month period of the TSX NCIB, which is consistent with the maximum number of shares Cronos is able to purchase under the TSX NCIB. The other conditions to the NCIB Exemption will be outlined in Cronos' quarterly report on Form 10-Q for the quarter ended June 30, 2026 filed on EDGAR and SEDAR+.

About Cronos

Cronos is a global cannabis company focused on scaling leading consumer goods products through research and development and innovation. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach®, PEACE NATURALS®, LIT™ and Lord Jones®. For more information about Cronos and its brands, please visit: thecronosgroup.com.

Forward-Looking Information

This press release may contain information that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws and court decisions (collectively, “Forward-looking Statements”). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. The forward-looking information in this news release includes, but is not limited to, statements related to the Company’s intention to commence the TSX NCIB and the timing and quantity of any purchases of Common Shares under the TSX NCIB and the Share Repurchase Program. 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. Financial results, performance or achievements expressed or implied by those Forward-looking Statements and the Forward-looking Statements are not guarantees of future performance. A discussion of some of the material risks applicable to the Company can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the Quarterly Report on Form 10-Q for the quarter ended March 31, 2026, each of which has been filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Cronos disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.

For further information, please contact:
Harrison Aaron
Investor Relations
Tel: (416) 504-0004
investor.relations@thecronosgroup.com

FAQ

What did Cronos (CRON) announce about its share repurchase program on June 16, 2026?

Cronos announced that its share repurchase program now includes a normal course issuer bid on the Toronto Stock Exchange. According to Cronos, this extends buybacks across both U.S. and Canadian marketplaces within the existing US$50 million authorization and share cap.

How many Cronos (CRON) shares can be repurchased under the 2026 buyback program?

Cronos intends to repurchase for cancellation up to 18,712,918 common shares, subject to a US$50 million cap. According to Cronos, this represents approximately 5.02% of its 373 million issued and outstanding common shares as of June 1, 2026.

When does the Cronos (CRON) share repurchase program start and end?

The share repurchase program began on May 14, 2026, and is expected to terminate on May 13, 2027, unless ended earlier. According to Cronos, TSX purchases under the normal course issuer bid may commence on June 19, 2026 within this timeframe.

How does the Ontario Securities Commission exemption affect Cronos (CRON) buybacks?

The OSC exemption lets Cronos repurchase more shares on U.S. marketplaces than standard Canadian limits allow. According to Cronos, it may buy up to the greater of 5% of outstanding shares and 10% of public float, subject to the overall program cap.

What is the daily share repurchase limit for Cronos (CRON) on the TSX?

Cronos may purchase up to 53,968 common shares per trading day on the TSX, excluding block purchases. According to Cronos, this equals 25% of the 215,873 average daily trading volume over the six months ended May 31, 2026.

Who manages Cronos (CRON) share repurchases under the 2026 program?

Cronos appointed Celadon Financial Group as its agent to execute share repurchases. According to Cronos, when buybacks occur on the TSX or alternative Canadian systems, they will be carried out through Virtu Canada Corp under the normal course issuer bid framework.