Cronos Group Stock Price, News & Analysis

Cronos Group held its Annual Meeting of Shareholders on June 25, 2021, with 75.35% of outstanding shares represented. All proposed directors were elected, receiving over 94.38% of votes. Notable votes included Kendrick Ashton, Jr. with 99.61% support and Jody Begley with 94.38%. An advisory resolution on executive compensation was approved by 93.64% of votes. KPMG LLP was re-appointed as independent auditors. For complete voting results, refer to the Company’s filings on SEDAR and EDGAR.

Cronos Group has entered into a strategic agreement to purchase an option for a 10.5% stake in PharmaCann for approximately $110.4 million. This investment positions Cronos to benefit from the expanding U.S. cannabis market, particularly in states where PharmaCann operates, which includes six limited-license states. Both companies plan to collaborate on product distribution and governance rights following the option's exercise, contingent on regulatory approvals and U.S. federal cannabis legalization.

Cronos Group (NASDAQ: CRON) and Ginkgo Bioworks have amended their collaboration agreement to expedite the commercialization of cultured cannabinoids. The new terms allow Cronos to market products using cultured cannabinoids before meeting previously defined productivity targets, enhancing their market position in Canada. Following the receipt of necessary licenses, Cronos has commenced commercial production of CBG. The agreement maintains the original share issuance structure tied to productivity milestones, with the potential to produce rare cannabinoids reliably and economically.

Cronos Group, a global cannabinoid company, announced that Mike Gorenstein, Executive Chairman, will speak at Canaccord Genuity’s 5th Annual Global Cannabis Conference on May 11, 2021, at 2:30 p.m. EDT. Participants can access the live webcast at thecronosgroup.com. Following the event, a replay will be available. Cronos is focused on developing disruptive intellectual property and building a strong brand portfolio with products like PEACE NATURALS, COVE, and Spinach.

Cronos Group (NASDAQ: CRON) has unveiled a comprehensive Marketing Code aimed at promoting responsible marketing practices in the cannabis industry. This initiative emphasizes that marketing should not target individuals below the legal consumption age. The code will govern all Cronos marketing activities worldwide and is intended to engage both industry peers and policymakers. Key principles include adult-targeted advertising, responsible consumption messaging, and transparency in claims. Cronos Group's leadership believes this initiative is vital for fostering trust in the evolving cannabis market.

Cronos Group recently announced its Q1 2021 results, reporting consolidated net revenue of $12.6 million, a 50% increase from Q1 2020, driven by growth in the Canadian and Israeli markets. Despite increased sales, the company experienced a gross loss of $2.96 million, improved from $6.48 million a year prior. The newly acquired processing license for cannabinoid biosynthesis is a significant achievement, supporting innovative product development. However, adjusted EBITDA loss slightly increased to $37.1 million, reflecting higher marketing and R&D costs.

Cronos Group Inc. (NASDAQ: CRON) will hold its 2021 Annual Meeting of Shareholders on June 25, 2021, at 11:00 a.m. EDT in a virtual format due to COVID-19 health concerns. Shareholders and proxyholders can participate online, ask questions, and vote. The proxy statement with meeting details is available on the Company’s website. A replay of the meeting will be accessible within 24 hours post-event. Cronos Group, a global cannabinoid company, focuses on advancing cannabis research and product development, aiming to enhance consumer experience through a diverse brand portfolio.

Cronos Group Inc. (NASDAQ: CRON) will host its 2021 First Quarter Earnings Conference Call on May 7, 2021, at 8:30 a.m. EDT. The call will allow management to discuss the company's financial results and address questions from investors. A live audio webcast will be available on the company's website, with an archived replay afterward. Cronos Group focuses on cannabinoid production and is building a diverse brand portfolio, including various wellness and hemp-derived CBD brands.

Cronos Group announces the launch of its first brand campaign for the Lord Jones™ brand, named “A Higher Order”, aimed at expanding its market presence in the U.S. This campaign includes out-of-home advertising and television spots featuring new creative assets, which showcase the brand's premium CBD products. The initiative reflects the brand's evolution and commitment to elevating consumer wellness experiences.

The campaign will be celebrated with a live-streamed “Sunday Bath Session” on May 2, 2021.