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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.
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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 The call will be accessible via a live audio webcast on the company's website, with an archived version available for later listening.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®.
Cronos Group reported a significant 80% increase in consolidated net revenue for Q3 2021, totaling $20.4 million, driven by growth in Canada and the Israeli market. The company announced strategic realignment to enhance business efficiency and focus on innovation. However, it also recorded an impairment charge of $236.1 million affecting goodwill and long-lived assets. Despite the positive revenue growth, adjusted EBITDA worsened to $(46.8) million, indicating ongoing financial challenges. The company is committed to improving internal controls and expanding its product portfolio.
Cronos Group Inc. (NASDAQ: CRON) will host its 2021 Third Quarter Earnings Conference Call on February 18, 2022, at 8:30 a.m. EST. The call will cover the company’s financial results and include a Q&A session. A live audio webcast will be accessible on the company's website, and an archived version will also be available. Cronos Group, a leading cannabinoid company, focuses on building a disruptive intellectual property portfolio and an iconic brand lineup that includes PEACE NATURALS®, COVE™, Spinach®, Lord Jones®, Happy Dance®, and PEACE+™.
Cronos Group (NASDAQ: CRON) has issued a default status report as per NP 12-203 guidelines, following the announcement of a management cease trade order (MCTO) on November 9, 2021. The MCTO restricts trading by the CEO and CFO until the filing of the overdue Quarterly Report on Form 10-Q for Q3 2021, expected by February 18, 2022. However, the company confirms no material changes have occurred since the original announcement. Cronos Group remains committed to adhering to NP 12-203 guidelines while in default.
Cronos Group Inc. (NASDAQ: CRON) issued a default status report in compliance with NP 12-203, acknowledging a management cease trade order (MCTO) due to delays in filing its Quarterly Report for Q3 2021. Initially announced on November 9, 2021, the company has until February 18, 2022, to meet filing deadlines. The MCTO restricts trading for the CEO and CFO but not other shareholders. Cronos assures that no new material issues have arisen since the original announcement and commits to continue adhering to NP 12-203 guidelines until compliance is achieved.
Cronos Group (NASDAQ: CRON) has issued a default status report following its application for a management cease trade order (MCTO) due to an inability to file its Quarterly Report on Form 10-Q for the period ending September 30, 2021, by the deadline. The MCTO, effective November 16, 2021, restricts trading by executives until necessary filings are made. Cronos anticipates filing by January 31, 2022, and reports no new material developments since the original announcement. The company is committed to compliance with alternative information guidelines while in default.
Cronos Group Inc. (NASDAQ: CRON) provides a default status report in compliance with NP 12-203 due to a management cease trade order (MCTO) stemming from its inability to file the Quarterly Report on Form 10-Q for Q3 2021 on time. The MCTO, issued on November 16, 2021, restricts trading by the CEO and CFO until the Required Filings are completed. The company aims to submit these filings by January 31, 2022, though this is not guaranteed. Cronos confirms no other significant changes since its initial announcement and will continue to comply with NP 12-203 guidelines.
Cronos Group Inc. (NASDAQ: CRON) has issued a default status report under NP 12-203 due to its inability to file the Quarterly Report on Form 10-Q for the period ending September 30, 2021, by the deadline. Following the announcement on November 9, 2021, a management cease trade order (MCTO) was issued on November 16, 2021, restricting trades by the CEO and CFO. The company is working to meet the filing deadline, now expected by January 31, 2022, and confirms that there have been no material changes since the original announcement.
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