Welcome to our dedicated page for Cronos Group news (Ticker: CRON), a resource for investors and traders seeking the latest updates and insights on Cronos Group stock.
Cronos Group Inc. reports developments for a global cannabis and cannabinoid company focused on consumer goods, cannabis research, technology and product development. Its brand portfolio includes Spinach®, PEACE NATURALS®, LIT® and Lord Jones®, with news often centered on product innovation across Canadian cannabis formats such as pre-rolls and vapes.
Recurring Cronos updates also cover operating and financial results, earnings conference calls, annual shareholder meetings, proxy and governance matters, capital-structure disclosures and public-company presentations. The company’s disclosures connect brand launches and R&D-driven product development with the financial and governance reporting of a Nasdaq- and TSX-listed cannabis issuer.
Cronos Group has filed a Form 12b-25 with the SEC regarding its Quarterly Report on Form 10-Q for the period ending September 30, 2021. The delay is due to the Audit Committee needing more time to assess goodwill and indefinite-lived intangible assets for impairment, expecting a charge of at least $220 million. This charge won’t impact cash or revenues, but the Company anticipates filing the complete Form 10-Q within 60 days. Additionally, a management cease trade order has been applied for, restricting trading by certain executives until the filings are completed.
Cronos Group Inc. (NASDAQ: CRON) announced Dr. Todd Abraham's retirement as Chief Innovation Officer after 40 years, with Arye Weigensberg assuming the interim role. Weigensberg, previously General Manager at Cronos Research Labs, will lead R&D while the company searches for a permanent successor. Dr. Abraham's contributions included spearheading the partnership with Ginkgo Bioworks, which led to the launch of the Spinach FEELZ™ Chill Bliss gummy. Cronos aims to continue advancing cannabis innovations and enhancing consumer experience.
Cronos Group has launched its new SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummy in Canada, marking a significant milestone as the first cannabis edible of its kind featuring cultured cannabigerol (CBG). This innovative product is created using fermentation methods and provides a unique experience for consumers. The gummies, available in Pineapple Starfruit flavor, contain 10 mg of THC and 5 mg of CBG per package. The launch is part of Cronos's strategy to develop a full line of cannabis products that include rare cannabinoids.
Cronos Group, in partnership with Ginkgo Bioworks, has achieved a significant productivity milestone in producing cannabigerolic acid (CBGA), paving the way for its upcoming CBG product launch this fall. This collaboration aims to create eight cultured cannabinoids, leveraging Ginkgo’s expertise in cell programming. As a result of reaching the productivity target, Cronos Group will issue approximately 1.5 million shares to Ginkgo. This milestone reflects a commitment to innovation and expands access to rare cannabis molecules.
Cronos Group announced that Executive Chairman Mike Gorenstein will present at the Canaccord Genuity 41st Annual Growth Conference on August 10, 2021, at 1:30 p.m. EDT. This event will focus on the company’s innovative approach to cannabinoid products and brand development across five continents. A recording will be accessible through the Investors section of the Cronos Group website following the presentation. The company continues to push boundaries in cannabis research and product development, aiming to elevate consumer experiences with its diverse brand portfolio.
Cronos Group Inc. (NASDAQ: CRON), a global cannabinoid company, appointed Bob Madore as Chief Financial Officer, effective August 9, 2021. He succeeds Jerry Barbato, whose contributions in finance and procurement were acknowledged. Bob has a 30-year financial leadership background, previously serving as CFO at American Eagle Outfitters and Ralph Lauren. His role is expected to enhance Cronos's growth opportunities and shareholder value. The announcement coincided with the release of the Company's second-quarter financial results, marking a significant leadership transition at Cronos Group.
Cronos Group Inc. reported its 2021 Q2 results, highlighting a consolidated net revenue of $15.6 million, a 58% increase year-over-year. Significant growth was driven by the Canadian adult-use cannabis market, particularly the Spinach™ brand. However, the company faced a gross loss of $15.8 million, attributed to inventory write-downs and start-up costs. A strategic investment in PharmaCann aims to bolster U.S. market presence. The company launched new products, including SOURZ by Spinach™ gummies, and amended its agreement with Ginkgo Bioworks to enhance cannabinoid production.
Cronos Group has launched SOURZ by Spinach™ gummies, a new line of cannabis edibles designed for adult consumers. The gummies feature bold dual flavors and proprietary flavor masking technology, enhancing the taste experience. Each gummy contains 2 mg of THC, available in flavors like Peach Orange and Blue Raspberry Watermelon. A recent survey indicated that 46% of Canadian cannabis users favor gummies over other edibles. Cronos aims to innovate in the growing edibles market, enhancing consumer experiences as pandemic restrictions ease across Canada.
Cronos Group Inc. (NASDAQ: CRON) will host its 2021 Second Quarter Earnings Conference Call on August 6, 2021, at 8:30 a.m. EDT. Senior management will review the Company’s financial results and address questions from investors. A live audio webcast will be accessible on the Company’s website, and the call will be archived for later listening. Cronos Group focuses on developing cannabinoid products globally, with brands like PEACE NATURALS™, COVE™, and Spinach™ in its portfolio.
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.