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. (CRON) is a global leader in cannabis innovation, operating across medicinal and recreational markets with brands like Peace Naturals and Spinach. This page provides investors and industry observers with centralized access to official press releases, financial updates, and strategic developments.
Track CRON's progress through earnings reports, regulatory milestones, product launches, and partnership announcements. Our curated news collection ensures you stay informed about operational expansions, research breakthroughs, and market positioning in the evolving cannabis sector.
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Cronos Group announced the results of its Annual Meeting of Shareholders held on June 23, 2022, where 265,763,587 common shares were voted, representing 70.76% of total shares. All nominees for the board of directors were elected, each receiving over 91.6% support. Notable votes included Kendrick Ashton, Jr. with 98.83% and Jason Adler with 92.14%. Additionally, 95.02% approved the compensation of named executive officers, and KPMG LLP was re-appointed as auditors. For full voting details, see the Company’s filings on SEDAR and EDGAR.
Cronos Group Inc. (NASDAQ: CRON) has announced the achievement of a third productivity milestone in its partnership with Ginkgo Bioworks, successfully producing tetrahydrocannabivarin (THCV). This milestone is part of their initiative to cultivate eight cannabinoids, enhancing Cronos’ innovation pipeline. Since launching in 2018, the partnership aims to develop cannabinoids at industrial scale. As part of this achievement, Cronos issued approximately 2.2 million common shares to Ginkgo. The collaboration is expected to advance Cronos’ product offerings and market presence.
Cronos Group (NASDAQ: CRON) and Ginkgo Bioworks (NYSE: DNA) have achieved a productivity milestone in their collaboration to produce cultured cannabinoids, specifically tetrahydrocannabivarin (THCV). This development is part of an initiative launched in 2018 aimed at creating rare cannabinoids at industrial scale. Cronos has issued approximately 2.2 million common shares to Ginkgo as a result of this achievement. The partnership underscores both companies' commitment to innovation in the cannabis industry, enhancing Cronos' product pipeline with potential market introductions for THCV.
Cronos Group Inc. (NASDAQ: CRON) announced that CEO Mike Gorenstein will present at two upcoming conferences: Canaccord Genuity's Cannabis Conference on May 11, 2022, and BMO’s Global Farm to Market Conference on May 19, 2022. Both events will be available via webcast on the Company's investor website. Cronos Group focuses on cannabis research, technology, and product development, boasting a diverse brand portfolio including Spinach® and PEACE NATURALS®. For further details, visit their official site.
Cronos Group reported a 99% increase in consolidated net revenue for Q1 2022, totaling $25.0 million, spurred by a 263% rise in Israel to $9.1 million. The company saw significant growth in market share in both Canada and Israel. CEO Mike Gorenstein emphasized a strategic realignment for profitability and sustainable growth, targeting $20 to $25 million in operational savings. Gross profit rose to $6.9 million, while the net loss narrowed to $32.7 million, improving 80% year-over-year.
Cronos Group will conduct its 2022 Annual Meeting of Shareholders on June 23, 2022, at 11:00 a.m. ET. The meeting will be held virtually, allowing registered shareholders and proxyholders to participate from any location. Detailed instructions for participation are available in the Company’s proxy statement on its website. A replay of the meeting will be accessible within 24 hours post-event. Cronos Group, a leading cannabinoid company, focuses on innovative product development and building a strong brand portfolio.
Cronos Group Inc. (NASDAQ: CRON) will conduct its Q1 2022 earnings conference call on May 10, 2022, at 8:30 a.m. ET. Senior management will present the financial results, followed by a Q&A session for investors. A live audio webcast will be accessible on the Company's website, with an archived replay available later. Cronos Group is dedicated to advancing cannabis research and technology, building a diverse brand portfolio including Spinach®, PEACE NATURALS®, and Lord Jones®. For further information, visit thecronosgroup.com.
Cronos Group has announced the appointment of Mike Gorenstein as the new Chairman, President, and CEO, effective March 21, 2022. This change follows the retirement of Kurt Schmidt. Gorenstein aims to leverage Cronos' innovative capabilities and strong balance sheet to enhance shareholder value, focusing on margin accretive growth and entry into the U.S. market. Immediate objectives include developing rare cannabinoids and transitioning to a more agile supply chain.
Cronos Group reported a 59% increase in consolidated net revenue for Full Year 2021 compared to 2020, driven by growth in the adult-use market in Canada and the Israeli medical market. The company plans to exit its Peace Naturals Campus in Ontario to enhance profitability and streamline its supply chain, incurring a $119.9 million non-cash impairment charge. Despite positive revenue growth, the company faced a net loss of $397.2 million for the year, primarily due to impairment charges and increased operating losses. The company continues to prioritize investments in rare cannabinoids and market positioning.
Cronos Group Inc. (NASDAQ: CRON) will host its 2021 Fourth Quarter and Full-Year Earnings Conference Call on March 1, 2022, at 8:30 a.m. ET. Management will discuss financial results and answer questions from investors. The call will be accessible via a live audio webcast on the company's website, with an archived version available for later listening. Cronos Group is focused on advancing cannabinoid research and technology while aiming to build a prominent brand portfolio, including Spinach®, PEACE NATURALS®, and Lord Jones®.
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