ESG Impact, Risk & opportunities public analysis
FINGREEN AI has analyzed this company, based on the publicly available data on the
Internet, as a showcase of our technology. For a more granular analysis, you can add private
documents for our AI to work through. Get in touch with us for more information !
Company ID
Business Park Kings Square Veldkant 33A – 2550 Kontich Belgium
Services
5
| Innovative entrepreneurship |
| Early stage investor |
| Incubator |
| Integrator |
| Venture capitalist |
Partners
0
Team
3
| Jef de wit | None | |
| Dirk Deroost | None | |
| Sam Bambust | None |
Public sources
155
Impacts, Risks & Opportunities
Positive impacts
14
Circular Economy -
Circular Economy Practices in Venture Capital Portfolio
The Cronos Group has the opportunity to promote circular economy practices within its venture capital portfolio by investing in companies that prioritize resource efficiency and waste reduction. This can enhance the portfolio's sustainability profile, attract environmentally conscious investors, and drive long-term value creation.
Sources
Own workforce -
Employee Well-being in Technology Professional Development
The Cronos Group must prioritize employee well-being in its technology professional development programs by providing access to mental health resources and promoting a healthy work-life balance. This can improve employee satisfaction, reduce turnover, and enhance the company's reputation as a responsible employer.
Sources
Workers in the value chain -
Fair Labor Practices in Creative Sector Integration
The Cronos Group should ensure fair labor practices in its creative sector integration initiatives by promoting diversity and inclusion, providing equal opportunities, and preventing discrimination. This can enhance employee morale, attract top talent, and strengthen the company's commitment to social responsibility.
Sources
Affected communities -
Community Engagement in Scientific Research Translation
The Cronos Group can foster positive relationships with affected communities by engaging them in its scientific research translation projects. This can build trust, address community concerns, and ensure that research outcomes benefit society as a whole, enhancing the company's social license to operate.
Sources
Consumers and end-users -
Data Privacy in Integration Services
The Cronos Group must prioritize data privacy and security in its integration services by implementing robust data protection measures and complying with relevant regulations. This can safeguard customer data, prevent data breaches, and maintain the company's reputation as a trusted service provider, ensuring long-term business sustainability.
Sources
Business conduct -
Ethical Business Conduct in Venture Capital Investments
The Cronos Group should uphold ethical business conduct in its venture capital investments by promoting transparency, preventing corruption, and ensuring compliance with anti-bribery laws. This can mitigate legal and reputational risks, attract ethical investors, and foster a culture of integrity within the company and its portfolio companies.
Sources
Own workforce -
Talent Acquisition and Retention
The Cronos Group can improve talent acquisition and retention by promoting diversity and inclusion, providing competitive compensation and benefits, and fostering a positive work environment. This can enhance employee satisfaction, reduce turnover, and attract top talent, strengthening the company's workforce, which is important for The Cronos Group.
Sources
Workers in the value chain -
Supply Chain Labor Standards
The Cronos Group should ensure fair labor standards in its supply chain by requiring suppliers to adhere to ethical labor practices and providing safe working conditions. This can mitigate reputational risks, prevent human rights violations, and promote social responsibility, enhancing the company's brand image, which is important for The Cronos Group.
Sources
Affected communities -
Community Relations and Social License
The Cronos Group can strengthen its community relations and social license to operate by engaging with local communities, addressing their concerns, and contributing to their well-being. This can build trust, foster positive relationships, and ensure the company's long-term sustainability, benefiting The Cronos Group.
Sources
Consumers and end-users -
Customer Data Protection and Privacy
The Cronos Group must prioritize customer data protection and privacy by implementing robust data security measures and complying with relevant regulations. This can safeguard customer data, prevent data breaches, and maintain the company's reputation as a trusted service provider, ensuring long-term business sustainability for The Cronos Group.
Sources
Business conduct -
Ethical Conduct and Anti-Corruption
The Cronos Group should uphold ethical conduct and prevent corruption by implementing robust anti-corruption policies and procedures. This can mitigate legal and reputational risks, attract ethical investors, and foster a culture of integrity within the company, enhancing its long-term sustainability, which is important for The Cronos Group.
Sources
Pollution -
Pollution Prevention in Technology Services
The Cronos Group should implement pollution prevention measures in its technology services by reducing waste, conserving resources, and minimizing emissions. This can mitigate negative environmental impacts, enhance the company's reputation, and ensure compliance with environmental regulations, benefiting The Cronos Group.
Sources
Water and marine resources -
Water Efficiency in Data Centers
The Cronos Group can improve water efficiency in its data centers by implementing water-cooling technologies and reducing water consumption. This can conserve water resources, reduce operating costs, and enhance the company's sustainability profile, benefiting The Cronos Group.
Sources
Biodiversity and ecosystems -
Biodiversity Conservation in Investment Decisions
The Cronos Group should integrate biodiversity conservation into its investment decisions by assessing the potential impacts of its investments on biodiversity. Supporting companies committed to conservation can mitigate risks and promote responsible environmental stewardship, benefiting The Cronos Group.
Sources
Negative impacts
5
Pollution -
Pollution Reduction in Technology Professional Development
The Cronos Group faces the challenge of minimizing pollution from its technology professional development activities, including e-waste from outdated equipment and energy consumption in training centers. Implementing green IT practices and promoting responsible disposal methods can mitigate these negative impacts and enhance environmental stewardship.
Sources
Water and marine resources -
Water Resource Management in Integration Services
The Cronos Group's integration services may impact water resources through data center operations and cooling systems. Implementing water-efficient technologies and promoting responsible water usage can reduce the company's environmental footprint and ensure compliance with water conservation regulations, enhancing its sustainability profile.
Sources
Biodiversity and ecosystems -
Biodiversity Considerations in Early Stage Investment
The Cronos Group's early-stage investments could inadvertently harm biodiversity if portfolio companies engage in activities that degrade natural habitats. Integrating biodiversity risk assessments into investment decisions and supporting companies committed to conservation can mitigate these risks and promote responsible environmental stewardship.
Sources
Climate Change -
Carbon Footprint Reduction in Operations
The Cronos Group faces the challenge of reducing its carbon footprint across its operations, including energy consumption in offices and data centers. Implementing energy-efficient technologies, sourcing renewable energy, and promoting sustainable transportation can mitigate these negative impacts and enhance environmental stewardship for The Cronos Group.
Sources
Circular Economy -
Waste Management Improvement in Technology Development
The Cronos Group needs to improve its waste management practices in technology development by reducing e-waste and promoting recycling. Implementing responsible disposal methods and encouraging the reuse of materials can minimize environmental impact and enhance the company's sustainability profile, aligning with circular economy principles.
Sources
Opportunities
3
Circular Economy -
Opportunities in Circular Economy for Incubator Programs
The Cronos Group can leverage the circular economy by fostering startups within its incubator programs that focus on waste reduction, reuse, and recycling. This presents a significant opportunity to attract environmentally conscious investors and enhance the group's reputation as a sustainable business leader.
Sources
Climate Change -
Investment in Green Technologies
The Cronos Group has the opportunity to invest in green technologies through its venture capital arm, supporting companies that develop innovative solutions for environmental challenges. This can drive financial returns, enhance the company's reputation as a sustainable investor, and contribute to a more sustainable economy, benefiting The Cronos Group.
Sources
Business conduct -
Opportunities in Sustainable Finance
The Cronos Group can capitalize on the growing demand for sustainable finance by offering investment products and services that align with ESG principles. This can attract socially responsible investors, enhance the company's reputation, and drive long-term financial performance, benefiting The Cronos Group.
Sources
Risks
5
Climate Change -
Climate Change Impact on Venture Capital Investments
Climate change poses a risk to The Cronos Group's venture capital investments, particularly in sectors vulnerable to extreme weather events and changing environmental regulations. This could lead to decreased profitability and asset devaluation. Proactive integration of climate risk assessments into investment strategies is crucial for long-term financial resilience.
Sources
Pollution -
Regulatory Risks Related to Environmental Compliance
The Cronos Group faces regulatory risks related to environmental compliance, including potential fines and penalties for violations of environmental laws and regulations. Proactive monitoring of regulatory changes and implementation of robust compliance programs can mitigate these risks and ensure the company's long-term sustainability, impacting The Cronos Group.
Sources
Water and marine resources -
Water Scarcity Impact on Operations
The Cronos Group's operations may be affected by water scarcity, particularly in regions with limited water resources. Implementing water-efficient technologies and promoting responsible water usage can reduce the company's vulnerability to water-related risks and ensure business continuity, which is important for The Cronos Group.
Sources
Biodiversity and ecosystems -
Biodiversity Loss Impact on Investments
The Cronos Group's investments could be negatively impacted by biodiversity loss, particularly in sectors that rely on natural resources. Integrating biodiversity risk assessments into investment decisions and supporting companies committed to conservation can mitigate these risks and protect long-term value, which is important for The Cronos Group.
Sources
Climate Change -
Climate Change Adaptation in Business Strategy
The Cronos Group needs to integrate climate change adaptation into its business strategy by assessing the potential impacts of climate change on its operations and investments. Implementing measures to adapt to these changes can reduce the company's vulnerability and ensure long-term resilience, benefiting The Cronos Group.
Sources
Climate Change
4
Financial
-
Risk
financial
-
Climate Change Impact on Venture Capital Investments
Climate change poses a risk to The Cronos Group's venture capital investments, particularly in sectors vulnerable to extreme weather events and changing environmental regulations. This could lead to decreased profitability and asset devaluation. Proactive integration of climate risk assessments into investment strategies is crucial for long-term financial resilience.
Sources
Material
-
Negative
material
-
Carbon Footprint Reduction in Operations
The Cronos Group faces the challenge of reducing its carbon footprint across its operations, including energy consumption in offices and data centers. Implementing energy-efficient technologies, sourcing renewable energy, and promoting sustainable transportation can mitigate these negative impacts and enhance environmental stewardship for The Cronos Group.
Sources
Financial
-
Opportunity
financial
-
Investment in Green Technologies
The Cronos Group has the opportunity to invest in green technologies through its venture capital arm, supporting companies that develop innovative solutions for environmental challenges. This can drive financial returns, enhance the company's reputation as a sustainable investor, and contribute to a more sustainable economy, benefiting The Cronos Group.
Sources
Financial
-
Risk
financial
-
Climate Change Adaptation in Business Strategy
The Cronos Group needs to integrate climate change adaptation into its business strategy by assessing the potential impacts of climate change on its operations and investments. Implementing measures to adapt to these changes can reduce the company's vulnerability and ensure long-term resilience, benefiting The Cronos Group.
Sources
Pollution
3
Material
-
Negative
material
-
Pollution Reduction in Technology Professional Development
The Cronos Group faces the challenge of minimizing pollution from its technology professional development activities, including e-waste from outdated equipment and energy consumption in training centers. Implementing green IT practices and promoting responsible disposal methods can mitigate these negative impacts and enhance environmental stewardship.
Sources
Financial
-
Risk
financial
-
Regulatory Risks Related to Environmental Compliance
The Cronos Group faces regulatory risks related to environmental compliance, including potential fines and penalties for violations of environmental laws and regulations. Proactive monitoring of regulatory changes and implementation of robust compliance programs can mitigate these risks and ensure the company's long-term sustainability, impacting The Cronos Group.
Sources
Material
-
Positive
material
-
Pollution Prevention in Technology Services
The Cronos Group should implement pollution prevention measures in its technology services by reducing waste, conserving resources, and minimizing emissions. This can mitigate negative environmental impacts, enhance the company's reputation, and ensure compliance with environmental regulations, benefiting The Cronos Group.
Sources
Water and marine resources
3
Material
-
Negative
material
-
Water Resource Management in Integration Services
The Cronos Group's integration services may impact water resources through data center operations and cooling systems. Implementing water-efficient technologies and promoting responsible water usage can reduce the company's environmental footprint and ensure compliance with water conservation regulations, enhancing its sustainability profile.
Sources
Financial
-
Risk
financial
-
Water Scarcity Impact on Operations
The Cronos Group's operations may be affected by water scarcity, particularly in regions with limited water resources. Implementing water-efficient technologies and promoting responsible water usage can reduce the company's vulnerability to water-related risks and ensure business continuity, which is important for The Cronos Group.
Sources
Material
-
Positive
material
-
Water Efficiency in Data Centers
The Cronos Group can improve water efficiency in its data centers by implementing water-cooling technologies and reducing water consumption. This can conserve water resources, reduce operating costs, and enhance the company's sustainability profile, benefiting The Cronos Group.
Sources
Biodiversity and ecosystems
3
Material
-
Negative
material
-
Biodiversity Considerations in Early Stage Investment
The Cronos Group's early-stage investments could inadvertently harm biodiversity if portfolio companies engage in activities that degrade natural habitats. Integrating biodiversity risk assessments into investment decisions and supporting companies committed to conservation can mitigate these risks and promote responsible environmental stewardship.
Sources
Financial
-
Risk
financial
-
Biodiversity Loss Impact on Investments
The Cronos Group's investments could be negatively impacted by biodiversity loss, particularly in sectors that rely on natural resources. Integrating biodiversity risk assessments into investment decisions and supporting companies committed to conservation can mitigate these risks and protect long-term value, which is important for The Cronos Group.
Sources
Material
-
Positive
material
-
Biodiversity Conservation in Investment Decisions
The Cronos Group should integrate biodiversity conservation into its investment decisions by assessing the potential impacts of its investments on biodiversity. Supporting companies committed to conservation can mitigate risks and promote responsible environmental stewardship, benefiting The Cronos Group.
Sources
Circular Economy
3
Financial
-
Opportunity
financial
-
Opportunities in Circular Economy for Incubator Programs
The Cronos Group can leverage the circular economy by fostering startups within its incubator programs that focus on waste reduction, reuse, and recycling. This presents a significant opportunity to attract environmentally conscious investors and enhance the group's reputation as a sustainable business leader.
Sources
Material
-
Positive
material
-
Circular Economy Practices in Venture Capital Portfolio
The Cronos Group has the opportunity to promote circular economy practices within its venture capital portfolio by investing in companies that prioritize resource efficiency and waste reduction. This can enhance the portfolio's sustainability profile, attract environmentally conscious investors, and drive long-term value creation.
Sources
Material
-
Negative
material
-
Waste Management Improvement in Technology Development
The Cronos Group needs to improve its waste management practices in technology development by reducing e-waste and promoting recycling. Implementing responsible disposal methods and encouraging the reuse of materials can minimize environmental impact and enhance the company's sustainability profile, aligning with circular economy principles.
Sources
Own workforce
2
Material
-
Positive
material
-
Employee Well-being in Technology Professional Development
The Cronos Group must prioritize employee well-being in its technology professional development programs by providing access to mental health resources and promoting a healthy work-life balance. This can improve employee satisfaction, reduce turnover, and enhance the company's reputation as a responsible employer.
Sources
Material
-
Positive
material
-
Talent Acquisition and Retention
The Cronos Group can improve talent acquisition and retention by promoting diversity and inclusion, providing competitive compensation and benefits, and fostering a positive work environment. This can enhance employee satisfaction, reduce turnover, and attract top talent, strengthening the company's workforce, which is important for The Cronos Group.
Sources
Workers in the value chain
2
Material
-
Positive
material
-
Fair Labor Practices in Creative Sector Integration
The Cronos Group should ensure fair labor practices in its creative sector integration initiatives by promoting diversity and inclusion, providing equal opportunities, and preventing discrimination. This can enhance employee morale, attract top talent, and strengthen the company's commitment to social responsibility.
Sources
Material
-
Positive
material
-
Supply Chain Labor Standards
The Cronos Group should ensure fair labor standards in its supply chain by requiring suppliers to adhere to ethical labor practices and providing safe working conditions. This can mitigate reputational risks, prevent human rights violations, and promote social responsibility, enhancing the company's brand image, which is important for The Cronos Group.
Sources
Affected communities
2
Material
-
Positive
material
-
Community Engagement in Scientific Research Translation
The Cronos Group can foster positive relationships with affected communities by engaging them in its scientific research translation projects. This can build trust, address community concerns, and ensure that research outcomes benefit society as a whole, enhancing the company's social license to operate.
Sources
Material
-
Positive
material
-
Community Relations and Social License
The Cronos Group can strengthen its community relations and social license to operate by engaging with local communities, addressing their concerns, and contributing to their well-being. This can build trust, foster positive relationships, and ensure the company's long-term sustainability, benefiting The Cronos Group.
Sources
Consumers and end-users
2
Material
-
Positive
material
-
Data Privacy in Integration Services
The Cronos Group must prioritize data privacy and security in its integration services by implementing robust data protection measures and complying with relevant regulations. This can safeguard customer data, prevent data breaches, and maintain the company's reputation as a trusted service provider, ensuring long-term business sustainability.
Sources
Material
-
Positive
material
-
Customer Data Protection and Privacy
The Cronos Group must prioritize customer data protection and privacy by implementing robust data security measures and complying with relevant regulations. This can safeguard customer data, prevent data breaches, and maintain the company's reputation as a trusted service provider, ensuring long-term business sustainability for The Cronos Group.
Sources
Business conduct
3
Material
-
Positive
material
-
Ethical Business Conduct in Venture Capital Investments
The Cronos Group should uphold ethical business conduct in its venture capital investments by promoting transparency, preventing corruption, and ensuring compliance with anti-bribery laws. This can mitigate legal and reputational risks, attract ethical investors, and foster a culture of integrity within the company and its portfolio companies.
Sources
Financial
-
Opportunity
financial
-
Opportunities in Sustainable Finance
The Cronos Group can capitalize on the growing demand for sustainable finance by offering investment products and services that align with ESG principles. This can attract socially responsible investors, enhance the company's reputation, and drive long-term financial performance, benefiting The Cronos Group.
Sources
Material
-
Positive
material
-
Ethical Conduct and Anti-Corruption
The Cronos Group should uphold ethical conduct and prevent corruption by implementing robust anti-corruption policies and procedures. This can mitigate legal and reputational risks, attract ethical investors, and foster a culture of integrity within the company, enhancing its long-term sustainability, which is important for The Cronos Group.
Sources
Raw data
{
"company_id_card": {
"contact_emails": [],
"description": "The Cronos Group, founded in 1991, has evolved into a large group of companies with over 9000 employees. Originally established for technology professionals, its mission is to help individuals grow, even to the point of entrepreneurship. The group has expanded to include creative sector individuals who bridge the gap between business and IT, ensuring optimal solutions for customers. Cronos is continuously seeking creative, driven individuals and welcomes innovative ideas from potential entrepreneurs. The company serves as a catalyst for translating scientific research on new technologies into business solutions, acting as an early-stage investor, incubator, integrator, and venture capital firm with holdings in more than 570 companies across various sectors, actively involved in starting around 20 companies annually.",
"linkedin": "https://www.linkedin.com/company/cronos/",
"location": "Business Park Kings Square Veldkant 33A \u2013 2550 Kontich Belgium",
"logo_url": "https://cronos-groep.be/wp-content/uploads/2020/11/cronos.png",
"name": "The Cronos Group",
"partners": [],
"services": [
"Innovative entrepreneurship",
"Early stage investor",
"Incubator",
"Integrator",
"Venture capitalist"
],
"team": [
{
"linkedin": null,
"name": "Jef de wit",
"role": null
},
{
"linkedin": null,
"name": "Dirk Deroost",
"role": null
},
{
"linkedin": null,
"name": "Sam Bambust",
"role": null
}
],
"twitter": "https://twitter.com/CronosGroep",
"website": "https://cronos-groep.be/"
},
"iros": [
{
"description": "Climate change poses a risk to The Cronos Group's venture capital investments, particularly in sectors vulnerable to extreme weather events and changing environmental regulations. This could lead to decreased profitability and asset devaluation. Proactive integration of climate risk assessments into investment strategies is crucial for long-term financial resilience.",
"financial_type": "risk",
"matter_id": "0",
"name": "Climate Change Impact on Venture Capital Investments",
"nature": "financial",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "4,1"
},
{
"description": "The Cronos Group can leverage the circular economy by fostering startups within its incubator programs that focus on waste reduction, reuse, and recycling. This presents a significant opportunity to attract environmentally conscious investors and enhance the group's reputation as a sustainable business leader.",
"financial_type": "opportunity",
"matter_id": "4",
"name": "Opportunities in Circular Economy for Incubator Programs",
"nature": "financial",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "2,0"
},
{
"description": "The Cronos Group faces the challenge of minimizing pollution from its technology professional development activities, including e-waste from outdated equipment and energy consumption in training centers. Implementing green IT practices and promoting responsible disposal methods can mitigate these negative impacts and enhance environmental stewardship.",
"material_scope": "current",
"material_type": "negative",
"material_value_chain": "local",
"matter_id": "1",
"name": "Pollution Reduction in Technology Professional Development",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "5,8"
},
{
"description": "The Cronos Group's integration services may impact water resources through data center operations and cooling systems. Implementing water-efficient technologies and promoting responsible water usage can reduce the company's environmental footprint and ensure compliance with water conservation regulations, enhancing its sustainability profile.",
"material_scope": "current",
"material_type": "negative",
"material_value_chain": "local",
"matter_id": "2",
"name": "Water Resource Management in Integration Services",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,9"
},
{
"description": "The Cronos Group's early-stage investments could inadvertently harm biodiversity if portfolio companies engage in activities that degrade natural habitats. Integrating biodiversity risk assessments into investment decisions and supporting companies committed to conservation can mitigate these risks and promote responsible environmental stewardship.",
"material_scope": "potential",
"material_type": "negative",
"material_value_chain": "downstream",
"matter_id": "3",
"name": "Biodiversity Considerations in Early Stage Investment",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "1,4"
},
{
"description": "The Cronos Group has the opportunity to promote circular economy practices within its venture capital portfolio by investing in companies that prioritize resource efficiency and waste reduction. This can enhance the portfolio's sustainability profile, attract environmentally conscious investors, and drive long-term value creation.",
"material_scope": "potential",
"material_type": "positive",
"material_value_chain": "downstream",
"matter_id": "4",
"name": "Circular Economy Practices in Venture Capital Portfolio",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "4,0"
},
{
"description": "The Cronos Group must prioritize employee well-being in its technology professional development programs by providing access to mental health resources and promoting a healthy work-life balance. This can improve employee satisfaction, reduce turnover, and enhance the company's reputation as a responsible employer.",
"material_scope": "current",
"material_type": "positive",
"material_value_chain": "local",
"matter_id": "5",
"name": "Employee Well-being in Technology Professional Development",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "5,8"
},
{
"description": "The Cronos Group should ensure fair labor practices in its creative sector integration initiatives by promoting diversity and inclusion, providing equal opportunities, and preventing discrimination. This can enhance employee morale, attract top talent, and strengthen the company's commitment to social responsibility.",
"material_scope": "current",
"material_type": "positive",
"material_value_chain": "local",
"matter_id": "6",
"name": "Fair Labor Practices in Creative Sector Integration",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "6,9"
},
{
"description": "The Cronos Group can foster positive relationships with affected communities by engaging them in its scientific research translation projects. This can build trust, address community concerns, and ensure that research outcomes benefit society as a whole, enhancing the company's social license to operate.",
"material_scope": "potential",
"material_type": "positive",
"material_value_chain": "downstream",
"matter_id": "7",
"name": "Community Engagement in Scientific Research Translation",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "7,0"
},
{
"description": "The Cronos Group must prioritize data privacy and security in its integration services by implementing robust data protection measures and complying with relevant regulations. This can safeguard customer data, prevent data breaches, and maintain the company's reputation as a trusted service provider, ensuring long-term business sustainability.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "8",
"name": "Data Privacy in Integration Services",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,9"
},
{
"description": "The Cronos Group should uphold ethical business conduct in its venture capital investments by promoting transparency, preventing corruption, and ensuring compliance with anti-bribery laws. This can mitigate legal and reputational risks, attract ethical investors, and foster a culture of integrity within the company and its portfolio companies.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "9",
"name": "Ethical Business Conduct in Venture Capital Investments",
"nature": "material",
"sources": [
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "have you found what you were looking for? from start-ups to market leaders, uncover what they do and how they do it. [ search companies ](/companies/listing/search/) continue on page access more premium companies when you subscribe to explorer [ find out more ](/industries-we-cover/globaldata-explorer/) [ close ](javascript:void\\(0\\)) * * *",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "[ ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) gain access to our premium signals and make informed decisions for your business gain access to our premium signals and make informed decisions for your business [ register your interest ](https://www.globaldata.com/store/request-sales-intelligence- demo/?report=3254907) ## 1",
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "4,1"
},
{
"description": "The Cronos Group faces the challenge of reducing its carbon footprint across its operations, including energy consumption in offices and data centers. Implementing energy-efficient technologies, sourcing renewable energy, and promoting sustainable transportation can mitigate these negative impacts and enhance environmental stewardship for The Cronos Group.",
"material_scope": "current",
"material_type": "negative",
"material_value_chain": "local",
"matter_id": "0",
"name": "Carbon Footprint Reduction in Operations",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,5"
},
{
"description": "The Cronos Group needs to improve its waste management practices in technology development by reducing e-waste and promoting recycling. Implementing responsible disposal methods and encouraging the reuse of materials can minimize environmental impact and enhance the company's sustainability profile, aligning with circular economy principles.",
"material_scope": "current",
"material_type": "negative",
"material_value_chain": "local",
"matter_id": "4",
"name": "Waste Management Improvement in Technology Development",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "5,7"
},
{
"description": "The Cronos Group has the opportunity to invest in green technologies through its venture capital arm, supporting companies that develop innovative solutions for environmental challenges. This can drive financial returns, enhance the company's reputation as a sustainable investor, and contribute to a more sustainable economy, benefiting The Cronos Group.",
"financial_type": "opportunity",
"matter_id": "0",
"name": "Investment in Green Technologies",
"nature": "financial",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "1,4"
},
{
"description": "The Cronos Group faces regulatory risks related to environmental compliance, including potential fines and penalties for violations of environmental laws and regulations. Proactive monitoring of regulatory changes and implementation of robust compliance programs can mitigate these risks and ensure the company's long-term sustainability, impacting The Cronos Group.",
"financial_type": "risk",
"matter_id": "1",
"name": "Regulatory Risks Related to Environmental Compliance",
"nature": "financial",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "9,3"
},
{
"description": "The Cronos Group's operations may be affected by water scarcity, particularly in regions with limited water resources. Implementing water-efficient technologies and promoting responsible water usage can reduce the company's vulnerability to water-related risks and ensure business continuity, which is important for The Cronos Group.",
"financial_type": "risk",
"matter_id": "2",
"name": "Water Scarcity Impact on Operations",
"nature": "financial",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,5"
},
{
"description": "The Cronos Group's investments could be negatively impacted by biodiversity loss, particularly in sectors that rely on natural resources. Integrating biodiversity risk assessments into investment decisions and supporting companies committed to conservation can mitigate these risks and protect long-term value, which is important for The Cronos Group.",
"financial_type": "risk",
"matter_id": "3",
"name": "Biodiversity Loss Impact on Investments",
"nature": "financial",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "1,4"
},
{
"description": "The Cronos Group can capitalize on the growing demand for sustainable finance by offering investment products and services that align with ESG principles. This can attract socially responsible investors, enhance the company's reputation, and drive long-term financial performance, benefiting The Cronos Group.",
"financial_type": "opportunity",
"matter_id": "9",
"name": "Opportunities in Sustainable Finance",
"nature": "financial",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "1,4"
},
{
"description": "The Cronos Group can improve talent acquisition and retention by promoting diversity and inclusion, providing competitive compensation and benefits, and fostering a positive work environment. This can enhance employee satisfaction, reduce turnover, and attract top talent, strengthening the company's workforce, which is important for The Cronos Group.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "5",
"name": "Talent Acquisition and Retention",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "8,9"
},
{
"description": "The Cronos Group should ensure fair labor standards in its supply chain by requiring suppliers to adhere to ethical labor practices and providing safe working conditions. This can mitigate reputational risks, prevent human rights violations, and promote social responsibility, enhancing the company's brand image, which is important for The Cronos Group.",
"material_scope": "potential",
"material_type": "positive",
"matter_id": "6",
"name": "Supply Chain Labor Standards",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,6"
},
{
"description": "The Cronos Group can strengthen its community relations and social license to operate by engaging with local communities, addressing their concerns, and contributing to their well-being. This can build trust, foster positive relationships, and ensure the company's long-term sustainability, benefiting The Cronos Group.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "7",
"name": "Community Relations and Social License",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "0,7"
},
{
"description": "The Cronos Group must prioritize customer data protection and privacy by implementing robust data security measures and complying with relevant regulations. This can safeguard customer data, prevent data breaches, and maintain the company's reputation as a trusted service provider, ensuring long-term business sustainability for The Cronos Group.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "8",
"name": "Customer Data Protection and Privacy",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,9"
},
{
"description": "The Cronos Group should uphold ethical conduct and prevent corruption by implementing robust anti-corruption policies and procedures. This can mitigate legal and reputational risks, attract ethical investors, and foster a culture of integrity within the company, enhancing its long-term sustainability, which is important for The Cronos Group.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "9",
"name": "Ethical Conduct and Anti-Corruption",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "4,9"
},
{
"description": "The Cronos Group needs to integrate climate change adaptation into its business strategy by assessing the potential impacts of climate change on its operations and investments. Implementing measures to adapt to these changes can reduce the company's vulnerability and ensure long-term resilience, benefiting The Cronos Group.",
"financial_type": "risk",
"matter_id": "0",
"name": "Climate Change Adaptation in Business Strategy",
"nature": "financial",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "long",
"value_chain_item_ids": "1,4"
},
{
"description": "The Cronos Group should implement pollution prevention measures in its technology services by reducing waste, conserving resources, and minimizing emissions. This can mitigate negative environmental impacts, enhance the company's reputation, and ensure compliance with environmental regulations, benefiting The Cronos Group.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "1",
"name": "Pollution Prevention in Technology Services",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,5"
},
{
"description": "The Cronos Group can improve water efficiency in its data centers by implementing water-cooling technologies and reducing water consumption. This can conserve water resources, reduce operating costs, and enhance the company's sustainability profile, benefiting The Cronos Group.",
"material_scope": "current",
"material_type": "positive",
"matter_id": "2",
"name": "Water Efficiency in Data Centers",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "3,5"
},
{
"description": "The Cronos Group should integrate biodiversity conservation into its investment decisions by assessing the potential impacts of its investments on biodiversity. Supporting companies committed to conservation can mitigate risks and promote responsible environmental stewardship, benefiting The Cronos Group.",
"material_scope": "potential",
"material_type": "positive",
"matter_id": "3",
"name": "Biodiversity Conservation in Investment Decisions",
"nature": "material",
"sources": [
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
},
{
"document": "* [ company information ](/about/?intcmp=footer) * [ work at the globe ](/about/work-at-the-globe/?intcmp=footer) * [ accessibility ](/accessibility/?intcmp=footer) * [ editorial code of conduct ](/about/editorial-code/?intcmp=footer) * [ sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)",
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
}
}
],
"time_horizon": "medium",
"value_chain_item_ids": "1,4"
}
],
"iros_per_materiality": {
"negative_impacts": [
2,
3,
4,
11,
12
],
"opportunities": [
1,
13,
17
],
"positive_impacts": [
5,
6,
7,
8,
9,
10,
18,
19,
20,
21,
22,
24,
25,
26
],
"risks": [
0,
14,
15,
16,
23
]
},
"iros_per_matters": {
"0": [
0,
11,
13,
23
],
"1": [
2,
14,
24
],
"2": [
3,
15,
25
],
"3": [
4,
16,
26
],
"4": [
1,
5,
12
],
"5": [
6,
18
],
"6": [
7,
19
],
"7": [
8,
20
],
"8": [
9,
21
],
"9": [
10,
17,
22
]
},
"materiality_matters": [
"Climate Change",
"Pollution",
"Water and marine resources",
"Biodiversity and ecosystems",
"Circular Economy",
"Own workforce",
"Workers in the value chain",
"Affected communities",
"Consumers and end-users",
"Business conduct"
],
"public_sources": [
{
"content": {
"metadata": {
"ext_id": "a93b02a4-075d-4d2d-ac79-043dd97b5f0e",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/contact/"
},
"page_content": "# Neem contact met ons op\n\n#### Wij zijn benieuwd naar jouw verhaal\n\nWil je een nieuw initiatief starten? Ben je op zoek naar een leuke werkplek of\neen stage? \nWil je meer te weten komen over de verschillende expertise domeinen?\n\n##### Neem rechtstreeks contact op met het team achter de cronos groep.\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#6b010e0d450f0e1c021f2b08190405041845090e)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#36525f445d185253445959454276554459585945185453)\n\n###### Sam Bambust\n\n[ __ ](/cdn-cgi/l/email-\nprotection#e5968488cb87848887909691a586978a8b8a96cb8780)\n\n## Onze locaties\n\n##### De Cronos Groep HQ\n\nBusiness Park King Square \nVeldkant 33A \u2013 2550 Kontich\n\nTelefoon: 03 450 80 30\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\n[ __ ](https://www.linkedin.com/company/cronos/ \"LinkedIn\")\n\nLinkedIn\n\n##### De Cronos Groep hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich\n\nTelefoon: 03 450 80 30\n\n##### Instagram feed\n\n##### Neem rechtstreeks contact op\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#0e646b68206a6b79677a4e6d7c6160617d206c6b)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#47232e352c692322352828343307243528292834692522)\n\nOf vul ons [ contactformulier ](/?page_id=17) in.\n\n\u00a9 De Cronos Groep \u2013 [ Sustainability ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=3) \u2013 [ Cookie\nPolicy ](/?page_id=8) \u2013 [ Perskit ](https://de-cronos-groep.prezly.com/)\n\nVOLG ONS\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nCookie settings\n\nDeze website maakt gebruik van cookies om jouw gebruikservaring te verbeteren.\nWe verwerken cookies voor (1) elektronische communicatie en het weergeven van\nde website, (2) het verder vormgeven, (3) meten en analyseren van jouw gebruik\n, (4) .het weergeven van inhoud en advertenties op maat en (5) doeleinden van\nderde partijen (indien van toepassing). Je kan er (met uitzondering van de\nessenti\u00eble cookies) per categorie voor kiezen het gebruik van cookies te\naanvaarden of weigeren. Weigeren van bepaalde categorie\u00ebn cookies (zoals\nbijvoorbeeld functionele cookies of marketing cookies) kan impact hebben op je\ngebruikservaring of ons belemmeren die gebruikservaring verder te verbeteren.\nVia de knop \u2018Voorkeuren\u2019 kan je nu of later zelf je voorkeuren instellen of\nwijzigen. Meer informatie over de verwerking van cookies vind je in [ onze\ncookieverklaring. ](https://cronos-groep.be/cookie-policy/) \n\nFunctioneel Altijd actief\n\nDe technische opslag of toegang is strikt noodzakelijk voor het legitieme doel\nom het gebruik mogelijk te maken van een specifieke dienst die expliciet door\nde abonnee of gebruiker wordt gevraagd, of voor het enige doel om de\nverzending van een communicatie over een elektronisch communicatienetwerk uit\nte voeren.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistieken\n\nDe technische opslag of toegang die uitsluitend wordt gebruikt voor anonieme\nstatistische doeleinden. Zonder een dagvaarding, vrijwillige naleving door uw\nInternet Service Provider, of aanvullende gegevens van een derde partij, kan\ninformatie die alleen voor dit doel is opgeslagen of opgehaald gewoonlijk niet\nworden gebruikt om u te identificeren. De technische opslag of toegang die\nuitsluitend wordt gebruikt voor anonieme statistische doeleinden. Zonder een\ndagvaarding, vrijwillige naleving door uw Internet Service Provider, of\naanvullende gegevens van een derde partij, kan informatie die alleen voor dit\ndoel is opgeslagen of opgehaald gewoonlijk niet worden gebruikt om u te\nidentificeren.\n\nMarketing\n\nDe technische opslag of toegang is vereist om gebruikersprofielen aan te maken\nom advertenties te verzenden of om de gebruiker op een website of over\nmeerdere websites te volgen voor soortgelijke marketingdoeleinden.\n\nBeheer opties Beheer diensten Beheer {vendor_count} leveranciers [ Lees\nmeer over deze doeleinden ](https://cookiedatabase.org/tcf/purposes/)\n\nVoorkeuren bekijken\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/contact/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/contact/"
},
{
"content": {
"metadata": {
"ext_id": "bc7500ae-01fc-45eb-9120-1c4a94515d11",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/en/contact/"
},
"page_content": "# Get in touch with us\n\n#### We are curious to get to know your story\n\nDo you want to start a new initiative? Are you looking for a nice workplace or\nan internship? \nWould you like to learn more about the different areas of expertise?\n\n##### The team behind The Cronos Group\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#f2989794dc9697859b86b291809d9c9d81dc9097)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#701419021b5e1415021f1f03043013021f1e1f035e1215)\n\n###### Sam Bambust\n\n[ __ ](/cdn-cgi/l/email-\nprotection#6714060a4905060a0512141327041508090814490502)\n\n## Our locations\n\n##### The Cronos Group HQ\n\nBusiness Park King Square \nVeldkant 33A \u2013 2550 Kontich \nBelgium\n\nPhone: 03 450 80 30\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\n[ __ ](https://www.linkedin.com/company/cronos/ \"LinkedIn\")\n\nLinkedIn\n\n##### The Cronos Group hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich \nBelgium\n\nPhone: 03 450 80 30\n\n##### Instagram feed\n\n##### Contact us directly\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#e68c8380c88283918f92a6859489888995c88483)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#1b7f726970357f7e697474686f5b78697475746835797e)\n\nOr fill in our [ contact form ](/?page_id=213) .\n\n\u00a9 The Cronos Group \u2013 [ Sustainability ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=233) \u2013 [ Cookie\nPolicy ](/?page_id=217) \u2013 [ Press kit ](https://de-cronos-groep.prezly.com/)\n\nFOLLOW US\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nManage Cookie Consent\n\nThis website uses cookies to improve your user experience. We process cookies\nfor (1) electronic communication and display of the website, (2) further\ndesign, (3) measurement and analysis of your usage , (4) displaying tailored\ncontent and advertisements and (5) third-party purposes (if applicable). You\ncan choose to accept or refuse the use of cookies (with the exception of\nessential cookies) for each category. Refusing certain categories of cookies\n(e.g. functional cookies or marketing cookies) may impact your user experience\nor prevent us from further improving that user experience. The 'Preferences'\nbutton allows you to set or change your preferences now or later. More\ninformation on cookie processing can be found in our [ cookie statement\n](https://cronos-groep.be/cookie-policy/) .\n\nFunctional Always active\n\nThe technical storage or access is strictly necessary for the legitimate\npurpose of enabling the use of a specific service explicitly requested by the\nsubscriber or user, or for the sole purpose of carrying out the transmission\nof a communication over an electronic communications network.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistics\n\nThe technical storage or access that is used exclusively for anonymous\nstatistical purposes. Without a subpoena, voluntary compliance on the part of\nyour Internet Service Provider, or additional records from a third party,\ninformation stored or retrieved for this purpose alone cannot usually be used\nto identify you. De technische opslag of toegang die uitsluitend wordt\ngebruikt voor anonieme statistische doeleinden. Zonder dagvaarding,\nvrijwillige naleving door je Internet Service Provider, of aanvullende\ngegevens van een derde partij, kan informatie die alleen voor dit doel wordt\nopgeslagen of opgehaald gewoonlijk niet worden gebruikt om je te\nidentificeren.\n\nMarketing\n\nThe technical storage or access is required to create user profiles to send\nadvertising, or to track the user on a website or across several websites for\nsimilar marketing purposes.\n\nManage options Manage services Manage {vendor_count} vendors [ Read more\nabout these purposes ](https://cookiedatabase.org/tcf/purposes/)\n\nView preferences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/en/contact/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/en/contact/"
},
{
"content": {
"metadata": {
"ext_id": "5ba58015-5993-4596-a2cb-82c683dbbbdb",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/en/"
},
"page_content": "# Your technology and innovation partner\n\n#### The Cronos Group is an outstanding example of innovative\nentrepreneurship.\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/rhinox_001_int_wz.gif)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/cronosadleie_001_int_bw-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/leuv_take001_ext_bl-1024x576.jpg)\n\nFounded in 1991, The Cronos Group has evolved from a one-man business to a\nlarge group of companies with >9000 employees. The group was originally\nfounded by and for technology people for the express purpose of helping those\npeople grow as far as their ambitions reached, even if that meant starting for\nthemselves.\n\nSince then, this mission statement has been expanded and the group enriched\nwith people from the creative sector who are able to communicate well with the\n\u2018business people\u2019 yet are able to speak with the Cronos IT staff at their own\nlevel, resulting in the most creative and technologically optimal solution for\ncustomers.\n\nThe group is also continuously looking for creative, driven people and is\nalways willing to listen to innovative ideas from potential entrepreneurs.\n\n[ More about The Cronos Group ](https://cronos-groep.be/en/over-ons/ \"Over\nons\")\n\n## Who are we\n\n__\n\n##### Innovative entrepreneurship\n\nThe Cronos Group is a diverse group, active in a number of innovative sectors.\nThe company seeks to serve as a catalyst for the development of scientific\nresearch on new technologies into business solutions.\n\n__\n\n##### Strong group\n\nThe Cronos Group is also an early stage investor, incubator, integrator and\nventure capital firm. The Cronos Group has holdings in more than 570 companies\nin various sectors and is actively involved in the start-up of some 20\ncompanies per year.\n\n__\n\n##### New technologies\n\nThe companies under The Cronos Group are pioneers in the introduction and use\nof new and innovative technologies, serving companies in various sectors that\nare often impacted by major changes, such as the media sector and publishers,\nbanking and insurance, utilities, etc.\n\n__\n\n##### Support\n\nThe Cronos Group searches the world for the best technology, actively forms\nknowledge cells and encourages potential entrepreneurs within the knowledge\ncells to pursue the technology in question.\n\n[ Contact us ](https://cronos-groep.be/en/contact/ \"Contact\")\n\n## Our succes story\n\n> 1\n\n##### Employees\n\n1\n\n##### Billion euro consolidated turnover\n\n1\n\n##### Customers in the Benelux\n\n## Cronos Classic Cycling\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.217-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.160-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.007-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.100-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.027-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.079-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.220-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.228-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.237-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.244-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.255-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.276-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.278-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.297-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.307-1024x683.jpg)\n\n[ Request all photos here ](/cdn-cgi/l/email-\nprotection#e0838f8d8d958e898381948985a083928f8e8f93ce8285df9395828a858394dda3928f8e8f93c0a38c8193938983c0a399838c898e87)\n\n## Initiatives\n\n### Do you want to start a new initiative? Are you looking for a nice\nworkplace or an internship? Would you like to learn more about the different\nareas of expertise?\n\n[ Contact us ](https://cronos-groep.be/en/contact/ \"Contact\")\n\n##### The Cronos Group hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich \nBelgium\n\nPhone: 03 450 80 30\n\n##### Instagram feed\n\n##### Contact us directly\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#036966652d6766746a774360716c6d6c702d6166)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#d0b4b9a2bbfeb4b5a2bfbfa3a490b3a2bfbebfa3feb2b5)\n\nOr fill in our [ contact form ](/?page_id=213) .\n\n\u00a9 The Cronos Group \u2013 [ Sustainability ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=233) \u2013 [ Cookie\nPolicy ](/?page_id=217) \u2013 [ Press kit ](https://de-cronos-groep.prezly.com/)\n\nFOLLOW US\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nManage Cookie Consent\n\nThis website uses cookies to improve your user experience. We process cookies\nfor (1) electronic communication and display of the website, (2) further\ndesign, (3) measurement and analysis of your usage , (4) displaying tailored\ncontent and advertisements and (5) third-party purposes (if applicable). You\ncan choose to accept or refuse the use of cookies (with the exception of\nessential cookies) for each category. Refusing certain categories of cookies\n(e.g. functional cookies or marketing cookies) may impact your user experience\nor prevent us from further improving that user experience. The 'Preferences'\nbutton allows you to set or change your preferences now or later. More\ninformation on cookie processing can be found in our [ cookie statement\n](https://cronos-groep.be/cookie-policy/) .\n\nFunctional Always active\n\nThe technical storage or access is strictly necessary for the legitimate\npurpose of enabling the use of a specific service explicitly requested by the\nsubscriber or user, or for the sole purpose of carrying out the transmission\nof a communication over an electronic communications network.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistics\n\nThe technical storage or access that is used exclusively for anonymous\nstatistical purposes. Without a subpoena, voluntary compliance on the part of\nyour Internet Service Provider, or additional records from a third party,\ninformation stored or retrieved for this purpose alone cannot usually be used\nto identify you. De technische opslag of toegang die uitsluitend wordt\ngebruikt voor anonieme statistische doeleinden. Zonder dagvaarding,\nvrijwillige naleving door je Internet Service Provider, of aanvullende\ngegevens van een derde partij, kan informatie die alleen voor dit doel wordt\nopgeslagen of opgehaald gewoonlijk niet worden gebruikt om je te\nidentificeren.\n\nMarketing\n\nThe technical storage or access is required to create user profiles to send\nadvertising, or to track the user on a website or across several websites for\nsimilar marketing purposes.\n\nManage options Manage services Manage {vendor_count} vendors [ Read more\nabout these purposes ](https://cookiedatabase.org/tcf/purposes/)\n\nView preferences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/en/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/en/"
},
{
"content": {
"metadata": {
"ext_id": "dd36f653-e3c8-45cd-8a8f-c0afe7427adf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/over-ons/"
},
"page_content": "# Ons succesverhaal\n\nDe Cronos Groep is een uitgesproken voorbeeld van innovatief ondernemerschap. \nOpgericht in 1991 en ge\u00ebvolueerd van een \u00e9\u00e9nmansbedrijf naar een grotere groep\nmet >9000 medewerkers, \u20ac1,13 miljard geconsolideerde omzet in 2023 en 5000\nklanten in de Benelux.\n\n> 1\n\n##### Werknemers\n\n1\n\n##### Miljard euro geconsolideerde omzet\n\n1\n\n##### Klanten in de Benelux\n\n## Over De Cronos Groep\n\nOorspronkelijk werd de groep opgericht voor en door technologie mensen met de\nuitdrukkelijke bedoeling om die mensen te helpen doorgroeien indien gewenst\ntot en met het ondernemerschap toe.\n\nOndertussen is dit mission statement verbreed en is de groep verrijkt met\nmensen uit de creatieve sector die goed communiceren met de \u2018business mensen\u2019\nen die perfect samenwerken met De Cronos Groep IT-mensen om tot de meest\ncreatieve en technologisch beste oplossing voor klanten te komen.\n\nDe groep is dan ook continu op zoek naar creatieve, gedreven mensen en is\naltijd bereid te luisteren naar innovatieve idee\u00ebn van potenti\u00eble ondernemers.\n\n[ Contacteer ons ](https://cronos-groep.be/contact/ \"Over ons\")\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/Over-De-Cronos-\nGroep.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/cronosadleie_003_int_bw.jpg)\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/11/hoi_062_int_bw.jpg)\n\n## Wie zijn wij\n\n__\n\n##### Innovatief Ondernemerschap\n\nDe Cronos Groep is een diverse groep actief in meerdere innovatieve sectoren.\nZe wil een katalysator zijn in het vertalen van wetenschappelijk onderzoek\nrond nieuwe technologie\u00ebn naar zakelijke oplossingen toe.\n\n__\n\n##### Sterke groep\n\nDe Cronos Groep is ook een early stage investor, incubator, combinator en\nventure capitalist. De Groep participeert in meer dan 570 bedrijven in diverse\nsectoren en is actief betrokken bij de opstart van een kleine 20 bedrijven per\njaar.\n\n__\n\n##### Nieuwe technologi\u00ebn\n\nDe bedrijven onder De Cronos Groep zijn voorlopers in het introduceren en\ngebruiken van nieuwe en innovatieve technologie\u00ebn naar bedrijven toe in\ndiverse sectoren die dikwijls onderhevig zijn aan ingrijpende veranderingen\nzoals de media sector en uitgevers, banken en verzekeringen, utilities, \u2026\n\n__\n\n##### Support\n\nDe Cronos Groep zoekt wereldwijd naar de beste technologie, gaat actief\nkenniscellen vormen en stimuleert potenti\u00eble ondernemers binnen de\nkenniscellen om met de betre\ufb00ende technologie aan de slag te gaan.\n\n[ Contacteer ons ](https://cronos-groep.be/contact/ \"Contact\")\n\n## Wie helpen wij\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/wie-helpen-wij.jpg)\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/11/hoi_096_int_bw.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/sweetmustard_032_int_bw.jpg)\n\nWe leven in uitdagende tijden. Nieuwe technologische ontwikkelingen volgen\nelkaar sneller op. Hele economische sectoren worden hervormd. Gepaste\ncreativiteit in combinatie met de juiste kennis en ervaring is dan ook\nnoodzakelijk om snel tot oplossingen te komen. Het is een kwestie van mee te\nzijn, in de spits te lopen, het verschil te maken.\n\nDat is precies wat De Cronos Groep beoogt: bedrijven op een creatieve,\nkwaliteitsvolle en rendementvolle manier helpen om te gaan met de\nmogelijkheden van nieuwe technologie\u00ebn. Zo kunnen bedrijven het maximale halen\nuit bestaande investeringen en tegelijk competitief voordeel halen uit nieuwe\ntechnologische opportuniteiten.\n\nIn nauwe samenwerking met klanten wordt op \u2018proof of concept\u2019 projecten\nervaring uitgediept. We staan naast de klant bij het noodzakelijke change\nmanagement in samenspraak met de \u2018business\u2019 alsook bij de fabrieksmatige \nuitrol van de opvolgprojecten in samenspraak met de eigen ICT afdeling van de\nbedrijven.\n\n##### De Cronos Groep hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich\n\nTelefoon: 03 450 80 30\n\n##### Instagram feed\n\n##### Neem rechtstreeks contact op\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#84eee1e2aae0e1f3edf0c4e7f6ebeaebf7aae6e1)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#610508130a4f0504130e0e12152102130e0f0e124f0304)\n\nOf vul ons [ contactformulier ](/?page_id=17) in.\n\n\u00a9 De Cronos Groep \u2013 [ Sustainability ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=3) \u2013 [ Cookie\nPolicy ](/?page_id=8) \u2013 [ Perskit ](https://de-cronos-groep.prezly.com/)\n\nVOLG ONS\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nCookie settings\n\nDeze website maakt gebruik van cookies om jouw gebruikservaring te verbeteren.\nWe verwerken cookies voor (1) elektronische communicatie en het weergeven van\nde website, (2) het verder vormgeven, (3) meten en analyseren van jouw gebruik\n, (4) .het weergeven van inhoud en advertenties op maat en (5) doeleinden van\nderde partijen (indien van toepassing). Je kan er (met uitzondering van de\nessenti\u00eble cookies) per categorie voor kiezen het gebruik van cookies te\naanvaarden of weigeren. Weigeren van bepaalde categorie\u00ebn cookies (zoals\nbijvoorbeeld functionele cookies of marketing cookies) kan impact hebben op je\ngebruikservaring of ons belemmeren die gebruikservaring verder te verbeteren.\nVia de knop \u2018Voorkeuren\u2019 kan je nu of later zelf je voorkeuren instellen of\nwijzigen. Meer informatie over de verwerking van cookies vind je in [ onze\ncookieverklaring. ](https://cronos-groep.be/cookie-policy/) \n\nFunctioneel Altijd actief\n\nDe technische opslag of toegang is strikt noodzakelijk voor het legitieme doel\nom het gebruik mogelijk te maken van een specifieke dienst die expliciet door\nde abonnee of gebruiker wordt gevraagd, of voor het enige doel om de\nverzending van een communicatie over een elektronisch communicatienetwerk uit\nte voeren.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistieken\n\nDe technische opslag of toegang die uitsluitend wordt gebruikt voor anonieme\nstatistische doeleinden. Zonder een dagvaarding, vrijwillige naleving door uw\nInternet Service Provider, of aanvullende gegevens van een derde partij, kan\ninformatie die alleen voor dit doel is opgeslagen of opgehaald gewoonlijk niet\nworden gebruikt om u te identificeren. De technische opslag of toegang die\nuitsluitend wordt gebruikt voor anonieme statistische doeleinden. Zonder een\ndagvaarding, vrijwillige naleving door uw Internet Service Provider, of\naanvullende gegevens van een derde partij, kan informatie die alleen voor dit\ndoel is opgeslagen of opgehaald gewoonlijk niet worden gebruikt om u te\nidentificeren.\n\nMarketing\n\nDe technische opslag of toegang is vereist om gebruikersprofielen aan te maken\nom advertenties te verzenden of om de gebruiker op een website of over\nmeerdere websites te volgen voor soortgelijke marketingdoeleinden.\n\nBeheer opties Beheer diensten Beheer {vendor_count} leveranciers [ Lees\nmeer over deze doeleinden ](https://cookiedatabase.org/tcf/purposes/)\n\nVoorkeuren bekijken\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/over-ons/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/over-ons/"
},
{
"content": {
"metadata": {
"ext_id": "e6cf6304-b225-4e26-9358-ee8db2f1b2fb",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/en/over-ons/"
},
"page_content": "# Our success story\n\nThe Cronos Group is an outstanding example of innovative entrepreneurship. \nFounded in 1991, the business evolved from a one-man show to a large group of\ncompanies with >9000 employees, a consolidated turnover of \u20ac1,13 billion in\n2022 and 5000 customers in the Benelux.\n\n> 1\n\n##### Employees\n\n1\n\n##### Billion euro consolidated turnover\n\n1\n\n##### Customers in the Benelux\n\n## About The Cronos Group\n\nThe group was originally founded by and for technology people for the express\npurpose of helping those people grow as far as their ambitions reached, even\nif that meant starting for themselves.\n\nSince then, this mission statement has been expanded and the group enriched\nwith people from the creative sector who are able to communicate well with the\n\u2018business people\u2019 yet are able to speak with the Cronos IT staff at their own\nlevel, resulting in the most creative and technologically optimal solution for\ncustomers.\n\nThe group is also continuously looking for creative, driven people and is\nalways willing to listen to innovative ideas from potential entrepreneurs.\n\n[ Contact us ](https://cronos-groep.be/en/contact/ \"Over ons\")\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/Over-De-Cronos-\nGroep-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/cronosadleie_003_int_bw-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/hoi_062_int_bw-1024x576.jpg)\n\n## Who are we\n\n__\n\n##### Innovative entrepreneurship\n\nThe Cronos Group is a diverse group, active in a number of innovative sectors.\nThe company seeks to serve as a catalyst for the development of scientific\nresearch on new technologies into business solutions.\n\n__\n\n##### Strong group\n\nThe Cronos Group is also an early stage investor, incubator, integrator and\nventure capital firm. The Cronos Group has holdings in more than 570 companies\nin various sectors and is actively involved in the start-up of some 20\ncompanies per year.\n\n__\n\n##### New technologies\n\nThe companies under The Cronos Group are pioneers in the introduction and use\nof new and innovative technologies, serving companies in various sectors that\nare often impacted by major changes, such as the media sector and publishers,\nbanking and insurance, utilities, etc.\n\n__\n\n##### Support\n\nThe Cronos Group searches the world for the best technology, actively forms\nknowledge cells and encourages potential entrepreneurs within the knowledge\ncells to pursue the technology in question.\n\n[ Contact us ](https://cronos-groep.be/en/contact/ \"Contact\")\n\n## Whom do we help\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/wie-helpen-\nwij-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/hoi_096_int_bw-1024x576.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/sweetmustard_032_int_bw-1024x683.jpg)\n\nWe live in challenging times. New technological developments are dominoing at\nan accelerating pace. Entire economic sectors are being transformed.\nAppropriate creativity combined with the right knowledge and experience is\ntherefore necessary to quickly come up with solutions. It is a matter of being\nin the game, keeping pace and making the difference.\n\nThis is exactly what The Cronos Group seeks to do: help companies find\ncreative, high quality, profitable ways to make the most of the potential of\nnew technologies. Our approach enables companies to get the most out of\nexisting investments while also deriving competitive advantage from new\ntechnological opportunities.\n\nIn-depth specific knowledge is obtained by carrying out proof-of-concept\nprojects in close cooperation with customers. We stand side-by-side with the\ncustomer for the necessary change management in dialogue with the \u2018business\u2019\nas well as during the well-oiled roll-out of the follow-up projects in\ncollaboration with the company\u2019s own IT department.\n\nWe see it as a welcome challenge to work with our customers to transform\nknowledge and expertise into strategic solutions.\n\n##### The Cronos Group hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich \nBelgium\n\nPhone: 03 450 80 30\n\n##### Instagram feed\n\n##### Contact us directly\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#39535c5f175d5c4e504d795a4b5657564a175b5c)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#bfdbd6cdd491dbdacdd0d0cccbffdccdd0d1d0cc91ddda)\n\nOr fill in our [ contact form ](/?page_id=213) .\n\n\u00a9 The Cronos Group \u2013 [ Sustainability ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=233) \u2013 [ Cookie\nPolicy ](/?page_id=217) \u2013 [ Press kit ](https://de-cronos-groep.prezly.com/)\n\nFOLLOW US\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nManage Cookie Consent\n\nThis website uses cookies to improve your user experience. We process cookies\nfor (1) electronic communication and display of the website, (2) further\ndesign, (3) measurement and analysis of your usage , (4) displaying tailored\ncontent and advertisements and (5) third-party purposes (if applicable). You\ncan choose to accept or refuse the use of cookies (with the exception of\nessential cookies) for each category. Refusing certain categories of cookies\n(e.g. functional cookies or marketing cookies) may impact your user experience\nor prevent us from further improving that user experience. The 'Preferences'\nbutton allows you to set or change your preferences now or later. More\ninformation on cookie processing can be found in our [ cookie statement\n](https://cronos-groep.be/cookie-policy/) .\n\nFunctional Always active\n\nThe technical storage or access is strictly necessary for the legitimate\npurpose of enabling the use of a specific service explicitly requested by the\nsubscriber or user, or for the sole purpose of carrying out the transmission\nof a communication over an electronic communications network.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistics\n\nThe technical storage or access that is used exclusively for anonymous\nstatistical purposes. Without a subpoena, voluntary compliance on the part of\nyour Internet Service Provider, or additional records from a third party,\ninformation stored or retrieved for this purpose alone cannot usually be used\nto identify you. De technische opslag of toegang die uitsluitend wordt\ngebruikt voor anonieme statistische doeleinden. Zonder dagvaarding,\nvrijwillige naleving door je Internet Service Provider, of aanvullende\ngegevens van een derde partij, kan informatie die alleen voor dit doel wordt\nopgeslagen of opgehaald gewoonlijk niet worden gebruikt om je te\nidentificeren.\n\nMarketing\n\nThe technical storage or access is required to create user profiles to send\nadvertising, or to track the user on a website or across several websites for\nsimilar marketing purposes.\n\nManage options Manage services Manage {vendor_count} vendors [ Read more\nabout these purposes ](https://cookiedatabase.org/tcf/purposes/)\n\nView preferences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/en/over-ons/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/en/over-ons/"
},
{
"content": {
"metadata": {
"ext_id": "c0f5e592-2f6f-49f2-a765-3981aee8324f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/fr/contact/"
},
"page_content": "# Contactez-nous sur\n\n#### Nous sommes curieux d\u2019entendre votre histoire\n\nVous souhaitez lancer une nouvelle initiative ? Vous cherchez un lieu de\ntravail ou de stage agr\u00e9able ? Vous souhaitez en savoir plus sur nos\ndiff\u00e9rents domaines d\u2019expertise ?\n\n##### Contactez directement l\u2019\u00e9quipe du Cronos Groep.\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#85efe0e3abe1e0f2ecf1c5e6f7eaebeaf6abe7e0)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#204449524b0e4445524f4f53546043524f4e4f530e4245)\n\n###### Sam Bambust\n\n[ __ ](/cdn-cgi/l/email-\nprotection#0a796b6724686b67687f797e4a69786564657924686f)\n\n## Nos implantations\n\n##### Si\u00e8ge du Cronos Groep\n\nBusiness Park King Square \nVeldkant 33A \u2013 2550 Kontich\n\nT\u00e9l\u00e9phone : 03 450 80 30\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\n[ __ ](https://www.linkedin.com/company/cronos/ \"LinkedIn\")\n\nLinkedIn\n\n##### De Cronos Groep hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich\n\nT\u00e9l\u00e9phone: 03 450 80 30\n\n##### Instagram feed\n\n##### CONTACTEZ-NOUS DIRECTEMENT\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#d8b2bdbef6bcbdafb1ac98bbaab7b6b7abf6babd)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#e7838e958cc983829588889493a7849588898894c98582)\n\nOu remplissez notre formulaire de contact .\n\n\u00a9 De Cronos Groep \u2013 [ Durabilit\u00e9 ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=234) \u2013 [ Cookie\nPolicy ](/?page_id=218) \u2013 [ Dossier de presse ](https://de-cronos-\ngroep.prezly.com/)\n\nSUIVEZ-NOUS\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nCookie settings\n\nCe site web utilise des cookies pour am\u00e9liorer votre exp\u00e9rience d'utilisateur.\nNous traitons les cookies pour (1) la communication \u00e9lectronique et\nl'affichage du site web, (2) la poursuite de la conception, (3) la mesure et\nl'analyse de votre utilisation, (4) l'affichage de contenu et de publicit\u00e9s\nsur mesure et (5) les objectifs de tiers (le cas \u00e9ch\u00e9ant). Vous pouvez choisir\nd'accepter ou de refuser l'utilisation de cookies (\u00e0 l'exception des cookies\nessentiels) pour chaque cat\u00e9gorie. Le refus de certaines cat\u00e9gories de cookies\n(par exemple, les cookies fonctionnels ou les cookies de marketing) peut avoir\nun impact sur votre exp\u00e9rience d'utilisateur ou nous emp\u00eacher d'am\u00e9liorer\ncette exp\u00e9rience. Le bouton \"Pr\u00e9f\u00e9rences\" vous permet de d\u00e9finir ou de\nmodifier vos pr\u00e9f\u00e9rences maintenant ou plus tard. Vous trouverez de plus\namples informations sur le traitement des cookies dans notre \n[ d\u00e9claration relative aux cookies ](https://cronos-groep.be/fr/cookie-\npolicy/) \n\nFonctionnels Toujours activ\u00e9\n\nLe stockage ou l'acc\u00e8s technique est strictement n\u00e9cessaire dans le but\nl\u00e9gitime de permettre l'utilisation d'un service sp\u00e9cifique explicitement\ndemand\u00e9 par l'abonn\u00e9 ou l'utilisateur, ou dans le seul but d'effectuer la\ntransmission d'une communication sur un r\u00e9seau de communications\n\u00e9lectroniques.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistiques\n\nLe stockage ou l'acc\u00e8s technique qui est utilis\u00e9 exclusivement \u00e0 des fins\nstatistiques anonymes. Sans assignation \u00e0 compara\u00eetre, conformit\u00e9 volontaire\nde la part de votre fournisseur de services Internet ou enregistrements\nsuppl\u00e9mentaires d'un tiers, les informations stock\u00e9es ou r\u00e9cup\u00e9r\u00e9es \u00e0 cette\nseule fin ne peuvent g\u00e9n\u00e9ralement pas \u00eatre utilis\u00e9es pour vous identifier. Le\nstockage ou l'acc\u00e8s technique qui est utilis\u00e9 exclusivement \u00e0 des fins\nstatistiques anonymes. Sans assignation \u00e0 compara\u00eetre, conformit\u00e9 volontaire\nde la part de votre fournisseur de services Internet ou enregistrements\nsuppl\u00e9mentaires d'un tiers, les informations stock\u00e9es ou r\u00e9cup\u00e9r\u00e9es \u00e0 cette\nseule fin ne peuvent g\u00e9n\u00e9ralement pas \u00eatre utilis\u00e9es pour vous identifier.\n\nMarketing\n\nLe stockage ou l'acc\u00e8s technique est n\u00e9cessaire pour cr\u00e9er des profils\nd'utilisateurs pour envoyer de la publicit\u00e9 ou pour suivre l'utilisateur sur\nun site Web ou sur plusieurs sites Web \u00e0 des fins de marketing similaires.\n\nG\u00e9rer les options G\u00e9rer les services G\u00e9rer {vendor_count} fournisseurs [ En\nsavoir plus sur ces finalit\u00e9s ](https://cookiedatabase.org/tcf/purposes/)\n\nAfficher les pr\u00e9f\u00e9rences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/fr/contact/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/fr/contact/"
},
{
"content": {
"metadata": {
"ext_id": "c14791fb-8c77-424d-9412-c1626d55b93a",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/fr/over-ons/"
},
"page_content": "# Notre r\u00e9ussite\n\nDe Cronos Groep est un exemple remarquable d\u2019entrepreneuriat innovant. Fond\u00e9\nen 1991 et ayant \u00e9volu\u00e9 d\u2019une entreprise unipersonnelle \u00e0 un groupe plus\nimportant avec >9000 employ\u00e9s, 1,13 milliard d\u2019euros de chiffre d\u2019affaires\nconsolid\u00e9 en 2022 et 5000 clients au Benelux.\n\n> 1\n\n##### Employ\u00e9s\n\n1\n\n##### Milliard d\u2019euros de chiffre d\u2019affaires consolid\u00e9\n\n1\n\n##### Clients au Benelux\n\n## \u00c0 propos du Cronos Groep\n\n\u00c0 l\u2019origine, le groupe a \u00e9t\u00e9 fond\u00e9 pour et par des personnes travaillant dans\nle domaine de la technologie, avec l\u2019intention explicite d\u2019aider ces personnes\n\u00e0 devenir des entrepreneurs si elles le souhaitent. Entre-temps, cette mission\ns\u2019est \u00e9largie et le groupe s\u2019est enrichi de personnes du secteur cr\u00e9atif qui\ncommuniquent bien avec les \u00ab hommes et femmes d\u2019affaires \u00bb et qui travaillent\nen parfaite collaboration avec les informaticiens du Cronos Groep afin de\nproposer aux clients la solution la plus cr\u00e9ative et \u00e0 la pointe de la\ntechnologie. Le groupe est constamment \u00e0 la recherche de personnes cr\u00e9atives\net motiv\u00e9es et est toujours dispos\u00e9 \u00e0 entendre les id\u00e9es novatrices de\npotentiels entrepreneurs.\n\n[ Contactez-nous ](https://cronos-groep.be/fr/contact/ \"\u00c0 propos de nous\")\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/Over-De-Cronos-\nGroep-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/cronosadleie_003_int_bw-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/hoi_062_int_bw-1024x576.jpg)\n\n## Qui sommes-nous\n\n__\n\n##### Entrepreneuriat innovant\n\nDe Cronos Groep est un groupe diversifi\u00e9, actif dans plusieurs secteurs\ninnovants. Il veut \u00eatre un catalyseur pour traduire la recherche scientifique\nsur les nouvelles technologies en solutions commerciales.\n\n__\n\n##### Un groupe fort\n\nDe Cronos Groep est \u00e9galement un investisseur en phase de d\u00e9marrage, un\nincubateur, un combinateur et un investisseur en capital-risque. Le groupe\nparticipe \u00e0 plus de 570 entreprises dans divers secteurs et s\u2019engage\nactivement au lancement d\u2019une vingtaine d\u2019entreprises par an.\n\n__\n\n##### Nouvelles technologies\n\nLes entreprises du Cronos Groep sont des pr\u00e9curseurs dans l\u2019introduction et\nl\u2019utilisation de nouvelles technologies innovantes pour les entreprises de\ndivers secteurs souvent sujets \u00e0 des changements radicaux tels que le secteur\ndes m\u00e9dias et les \u00e9diteurs, les banques et les assurances, les services\npublics, etc.\n\n__\n\n##### Support\n\nDe Cronos Groep recherche la meilleure technologie aux quatre coins du monde,\nforme activement des cellules de connaissance et stimule les entrepreneurs\npotentiels au sein des cellules de connaissance \u00e0 travailler avec la\ntechnologie en question.\n\n[ Contactez-nous ](https://cronos-groep.be/fr/contact/ \"Contact\")\n\n## Qui aidons-nous\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/wie-helpen-\nwij-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/hoi_096_int_bw-1024x576.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/sweetmustard_032_int_bw-1024x683.jpg)\n\nNotre \u00e9poque est charg\u00e9e de d\u00e9fis. Les nouveaux d\u00e9veloppements technologiques\nse succ\u00e8dent toujours plus rapidement. Des secteurs entiers de l\u2019\u00e9conomie se\ntransforment. Une cr\u00e9ativit\u00e9 appropri\u00e9e, combin\u00e9e aux connaissances et\nl\u2019exp\u00e9rience ad\u00e9quates, est donc n\u00e9cessaire pour \u00e9laborer efficacement des\nsolutions. Il s\u2019agit de suivre le rythme, d\u2019\u00eatre dans la course, de faire la\ndiff\u00e9rence. Et c\u2019est exactement ce \u00e0 quoi aspire De Cronos Groep : aider les\nentreprises \u00e0 exploiter les possibilit\u00e9s des nouvelles technologies de mani\u00e8re\nrentable, cr\u00e9ative et qualitative, de mani\u00e8re \u00e0 ce qu\u2019elles puissent tirer le\nmeilleur parti des investissements existants tout en profitant des nouvelles\nopportunit\u00e9s technologiques. L\u2019exp\u00e9rience est approfondie par la \u00ab preuve de\nconcept \u00bb des projets en \u00e9troite collaboration avec les clients. Nous\nassistons le client \u00e0 g\u00e9rer les changements n\u00e9cessaires en accord avec le \u00ab\nbusiness \u00bb ainsi que dans le d\u00e9ploiement en usine des projets de suivi en\nconcertation avec le d\u00e9partement informatique des entreprises.\n\n##### De Cronos Groep hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich\n\nT\u00e9l\u00e9phone: 03 450 80 30\n\n##### Instagram feed\n\n##### CONTACTEZ-NOUS DIRECTEMENT\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#dfb5bab9f1bbbaa8b6ab9fbcadb0b1b0acf1bdba)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#16727f647d387273647979656256756479787965387473)\n\nOu remplissez notre formulaire de contact .\n\n\u00a9 De Cronos Groep \u2013 [ Durabilit\u00e9 ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=234) \u2013 [ Cookie\nPolicy ](/?page_id=218) \u2013 [ Dossier de presse ](https://de-cronos-\ngroep.prezly.com/)\n\nSUIVEZ-NOUS\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nCookie settings\n\nCe site web utilise des cookies pour am\u00e9liorer votre exp\u00e9rience d'utilisateur.\nNous traitons les cookies pour (1) la communication \u00e9lectronique et\nl'affichage du site web, (2) la poursuite de la conception, (3) la mesure et\nl'analyse de votre utilisation, (4) l'affichage de contenu et de publicit\u00e9s\nsur mesure et (5) les objectifs de tiers (le cas \u00e9ch\u00e9ant). Vous pouvez choisir\nd'accepter ou de refuser l'utilisation de cookies (\u00e0 l'exception des cookies\nessentiels) pour chaque cat\u00e9gorie. Le refus de certaines cat\u00e9gories de cookies\n(par exemple, les cookies fonctionnels ou les cookies de marketing) peut avoir\nun impact sur votre exp\u00e9rience d'utilisateur ou nous emp\u00eacher d'am\u00e9liorer\ncette exp\u00e9rience. Le bouton \"Pr\u00e9f\u00e9rences\" vous permet de d\u00e9finir ou de\nmodifier vos pr\u00e9f\u00e9rences maintenant ou plus tard. Vous trouverez de plus\namples informations sur le traitement des cookies dans notre \n[ d\u00e9claration relative aux cookies ](https://cronos-groep.be/fr/cookie-\npolicy/) \n\nFonctionnels Toujours activ\u00e9\n\nLe stockage ou l'acc\u00e8s technique est strictement n\u00e9cessaire dans le but\nl\u00e9gitime de permettre l'utilisation d'un service sp\u00e9cifique explicitement\ndemand\u00e9 par l'abonn\u00e9 ou l'utilisateur, ou dans le seul but d'effectuer la\ntransmission d'une communication sur un r\u00e9seau de communications\n\u00e9lectroniques.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistiques\n\nLe stockage ou l'acc\u00e8s technique qui est utilis\u00e9 exclusivement \u00e0 des fins\nstatistiques anonymes. Sans assignation \u00e0 compara\u00eetre, conformit\u00e9 volontaire\nde la part de votre fournisseur de services Internet ou enregistrements\nsuppl\u00e9mentaires d'un tiers, les informations stock\u00e9es ou r\u00e9cup\u00e9r\u00e9es \u00e0 cette\nseule fin ne peuvent g\u00e9n\u00e9ralement pas \u00eatre utilis\u00e9es pour vous identifier. Le\nstockage ou l'acc\u00e8s technique qui est utilis\u00e9 exclusivement \u00e0 des fins\nstatistiques anonymes. Sans assignation \u00e0 compara\u00eetre, conformit\u00e9 volontaire\nde la part de votre fournisseur de services Internet ou enregistrements\nsuppl\u00e9mentaires d'un tiers, les informations stock\u00e9es ou r\u00e9cup\u00e9r\u00e9es \u00e0 cette\nseule fin ne peuvent g\u00e9n\u00e9ralement pas \u00eatre utilis\u00e9es pour vous identifier.\n\nMarketing\n\nLe stockage ou l'acc\u00e8s technique est n\u00e9cessaire pour cr\u00e9er des profils\nd'utilisateurs pour envoyer de la publicit\u00e9 ou pour suivre l'utilisateur sur\nun site Web ou sur plusieurs sites Web \u00e0 des fins de marketing similaires.\n\nG\u00e9rer les options G\u00e9rer les services G\u00e9rer {vendor_count} fournisseurs [ En\nsavoir plus sur ces finalit\u00e9s ](https://cookiedatabase.org/tcf/purposes/)\n\nAfficher les pr\u00e9f\u00e9rences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/fr/over-ons/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/fr/over-ons/"
},
{
"content": {
"metadata": {
"ext_id": "eb9bfc86-8a78-4e94-90cb-8fca630cd1c6",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/fr/initiatieven/"
},
"page_content": "# Initiatives\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\n[ __ ](https://www.linkedin.com/company/cronos/ \"LinkedIn\")\n\nLinkedIn\n\n##### De Cronos Groep hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich\n\nT\u00e9l\u00e9phone: 03 450 80 30\n\n##### Instagram feed\n\n##### CONTACTEZ-NOUS DIRECTEMENT\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#630906054d0706140a172300110c0d0c104d0106)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#b0d4d9c2db9ed4d5c2dfdfc3c4f0d3c2dfdedfc39ed2d5)\n\nOu remplissez notre formulaire de contact .\n\n\u00a9 De Cronos Groep \u2013 [ Durabilit\u00e9 ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=234) \u2013 [ Cookie\nPolicy ](/?page_id=218) \u2013 [ Dossier de presse ](https://de-cronos-\ngroep.prezly.com/)\n\nSUIVEZ-NOUS\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nCookie settings\n\nCe site web utilise des cookies pour am\u00e9liorer votre exp\u00e9rience d'utilisateur.\nNous traitons les cookies pour (1) la communication \u00e9lectronique et\nl'affichage du site web, (2) la poursuite de la conception, (3) la mesure et\nl'analyse de votre utilisation, (4) l'affichage de contenu et de publicit\u00e9s\nsur mesure et (5) les objectifs de tiers (le cas \u00e9ch\u00e9ant). Vous pouvez choisir\nd'accepter ou de refuser l'utilisation de cookies (\u00e0 l'exception des cookies\nessentiels) pour chaque cat\u00e9gorie. Le refus de certaines cat\u00e9gories de cookies\n(par exemple, les cookies fonctionnels ou les cookies de marketing) peut avoir\nun impact sur votre exp\u00e9rience d'utilisateur ou nous emp\u00eacher d'am\u00e9liorer\ncette exp\u00e9rience. Le bouton \"Pr\u00e9f\u00e9rences\" vous permet de d\u00e9finir ou de\nmodifier vos pr\u00e9f\u00e9rences maintenant ou plus tard. Vous trouverez de plus\namples informations sur le traitement des cookies dans notre \n[ d\u00e9claration relative aux cookies ](https://cronos-groep.be/fr/cookie-\npolicy/) \n\nFonctionnels Toujours activ\u00e9\n\nLe stockage ou l'acc\u00e8s technique est strictement n\u00e9cessaire dans le but\nl\u00e9gitime de permettre l'utilisation d'un service sp\u00e9cifique explicitement\ndemand\u00e9 par l'abonn\u00e9 ou l'utilisateur, ou dans le seul but d'effectuer la\ntransmission d'une communication sur un r\u00e9seau de communications\n\u00e9lectroniques.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistiques\n\nLe stockage ou l'acc\u00e8s technique qui est utilis\u00e9 exclusivement \u00e0 des fins\nstatistiques anonymes. Sans assignation \u00e0 compara\u00eetre, conformit\u00e9 volontaire\nde la part de votre fournisseur de services Internet ou enregistrements\nsuppl\u00e9mentaires d'un tiers, les informations stock\u00e9es ou r\u00e9cup\u00e9r\u00e9es \u00e0 cette\nseule fin ne peuvent g\u00e9n\u00e9ralement pas \u00eatre utilis\u00e9es pour vous identifier. Le\nstockage ou l'acc\u00e8s technique qui est utilis\u00e9 exclusivement \u00e0 des fins\nstatistiques anonymes. Sans assignation \u00e0 compara\u00eetre, conformit\u00e9 volontaire\nde la part de votre fournisseur de services Internet ou enregistrements\nsuppl\u00e9mentaires d'un tiers, les informations stock\u00e9es ou r\u00e9cup\u00e9r\u00e9es \u00e0 cette\nseule fin ne peuvent g\u00e9n\u00e9ralement pas \u00eatre utilis\u00e9es pour vous identifier.\n\nMarketing\n\nLe stockage ou l'acc\u00e8s technique est n\u00e9cessaire pour cr\u00e9er des profils\nd'utilisateurs pour envoyer de la publicit\u00e9 ou pour suivre l'utilisateur sur\nun site Web ou sur plusieurs sites Web \u00e0 des fins de marketing similaires.\n\nG\u00e9rer les options G\u00e9rer les services G\u00e9rer {vendor_count} fournisseurs [ En\nsavoir plus sur ces finalit\u00e9s ](https://cookiedatabase.org/tcf/purposes/)\n\nAfficher les pr\u00e9f\u00e9rences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/fr/initiatieven/"
},
"reason": "INTERNAL_LINK",
"reliability_score": 1.0,
"search_query": "overview",
"summary": "",
"url": "https://cronos-groep.be/fr/initiatieven/"
},
{
"content": {
"metadata": {
"ext_id": "c09477a0-d534-4b83-bb99-2daaaa9a4615",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
},
"page_content": "__ Back to companies\n\nShare __\n\n * __ Share on Twitter \n * __ Share on LinkedIn \n\nContact the team or request a demo to find out how our data can drive your\nbusiness forward\n\nSelect Item __\n\n * [ Overview ](/company-profile/cronos-group-inc/)\n * [ Financials ](/company-profile/cronos-group-inc/financials/)\n * [ Executives ](/company-profile/cronos-group-inc/executives/)\n * [ Locations ](/company-profile/cronos-group-inc/locations/)\n * [ Competitors ](/company-profile/cronos-group-inc/competitors/)\n * [ Deals ](/company-profile/cronos-group-inc/deals/)\n * [ Filing Analytics ](/company-profile/cronos-group-inc/filing-analytics/)\n * [ Patents ](/company-profile/cronos-group-inc/patents/)\n * [ Theme Exposure ](/company-profile/cronos-group-inc/theme-exposure/)\n * [ Media ](/company-profile/cronos-group-inc/media/)\n * __ Premium Data __\n * [ Lead Sheet ](/company-profile/cronos-group-inc/premium-data/lead-sheet/)\n\nCronos Group Inc (Cronos Group) is an innovative cannabinoid company that\nfocuses on advancing cannabis research, technology, and product development.\nIts activities include building disruptive intellectual property and\ndeveloping a diverse portfolio of cannabis products. The company's product\nportfolio includes dried flowers, cannabis seeds, cannabis plants, cannabis\nextracts, cannabis topicals, and cannabis edibles. Cronos Group's products are\ndesigned for adult consumers and are used across various applications in the\nwellness and recreational sectors. The company's brands include Spinach, PEACE\nNATURALS, and Lord Jones. Cronos Group is headquartered in Toronto, Ontario,\nCanada.\n\n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Gain a 360-degree view of Cronos Group Inc and make more\ninformed decisions for your business Gain a 360-degree view of Cronos Group\nInc and make more informed decisions for your business [ Register your\ninterest ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\nHeadquarters Canada\n\n* * *\n\nAddress 4491 Concession Rd 12, Toronto, Ontario, L0M1S0\n\n* * *\n\nWebsite [ thecronosgroup.com ](http://thecronosgroup.com)\n\n* * *\n\nTelephone 1 416 5040004\n\n* * *\n\nNo of Employees 626\n\n* * *\n\nIndustry Pharmaceuticals and Healthcare\n\n* * *\n\nTicker Symbol & Exchange CRON (TSE)\n\n* * *\n\nRevenue (2023) $117.6M __ 34.8% (2023 vs 2022)\n\n* * *\n\nEPS XYZ\n\n* * *\n\nNet Income (2023) XYZ __ 155.5% (2023 vs 2022)\n\n* * *\n\nMarket Cap* $684.0M\n\n* * *\n\nNet Profit Margin (2023) XYZ __ 141.2% (2023 vs 2022)\n\n* * *\n\n* As of and is in US$ \n\n[ View Cronos Group Inc financials __ ](/company-profile/cronos-group-\ninc/financials/)\n\n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Gain access to our premium signals and make informed\ndecisions for your business Gain access to our premium signals and make\ninformed decisions for your business [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n## 1\n\n#### [ Lead Sheet ](/company-profile/cronos-group-inc/premium-data/lead-\nsheet/)\n\nUnderstand when and why to target accounts of prospective leads, as well as\nwho to reach out to, drawing on intelligence for Cronos Group Inc\u2019s relevant\ndecision makers and contact details.\n\n## Products and Services\n\nProducts | Brands \n---|--- \nCannabis | PEACENATURALS \nDried Cannabis | Spinach \nPre-Rolls | LORD JONES \nXYZ | \nXYZ | \nXYZ | \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Understand Cronos Group Inc portfolio and identify\npotential areas for collaboration Understand Cronos Group Inc portfolio and\nidentify potential areas for collaboration [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n## History\n\nHistory section provides information on new products, mergers, acquisitions,\nexpansions, approvals, and many more key events.\n\nYear | Event | Description \n---|---|--- \n2024 | New Products/Services | In March, the company launched Lord Jones Chocolate Fusions. \n2023 | Corporate Changes/Expansions | In November, the company launched Lord Jones in the Canadian adult-use cannabis market. \n2023 | Others | In September, the company shipped its first order of bulk cannabis which will be sold under the PEACE NATURALS brand in Germany. \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Dive into past operations, including product releases,\ndeals, acquisitions & more Dive into past operations, including product\nreleases, deals, acquisitions & more [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n## Competitor Comparison\n\n**Key Parameters** | Cronos Group Inc | Aurora Cannabis Inc | Delivra Health Brands Inc | CannTrust Holdings Inc \n---|---|---|---|--- \nHeadquarters | Canada | Canada | Canada | Canada \nCity | Toronto | Leduc | Vancouver | Vaughan \nState/Province | Ontario | Alberta | British Columbia | Ontario \nNo. of Employees | 626 | 1,073 | \\- | 576 \nEntity Type | Public | Public | Public | Private \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Benchmark the company against the market with exclusive\ninformation on key competitors Benchmark the company against the market with\nexclusive information on key competitors [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Chart Financial activity with access to more key stats\nChart Financial activity with access to more key stats [ Register your\ninterest ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n##### Executives\n\nName | Position | Board | Since | Age \n---|---|---|---|--- \nMike Gorenstein | Chairman; Chief Executive Officer; President | Executive Board | \\- | \\- \nJason Adler | Director | Non Executive Board | \\- | \\- \nDominik Meier | Director | Non Executive Board | 2005 | \\- \nElizabeth Seegar | Director | Non Executive Board | 2003 | \\- \nJim Rudyk | Director | Non Executive Board | \\- | \\- \nNon Dignissim Eros | Proin vel | Convallis | 2025 | XY \nNon Dignissim Eros | Proin vel | Convallis | 2025 | XY \nNon Dignissim Eros | Proin vel | Convallis | 2025 | XY \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Gain insight into Cronos Group Inc key executives to\nenhance your sales strategy Gain insight into Cronos Group Inc key executives\nto enhance your sales strategy [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\nHave you found what you were looking for? From start-ups to market leaders,\nuncover what they do and how they do it.\n\n[ Search companies ](/companies/listing/search/) Continue on page\n\nAccess more premium companies when you subscribe to Explorer\n\n[ Find out more ](/industries-we-cover/globaldata-explorer/) [ Close\n](javascript:void\\(0\\))\n\n* * *\n\n * [ Hot Topics ](https://hot-topics.globaldata.com/)\n * [ Terms & Conditions ](https://www.globaldata.com/terms-conditions/)\n * [ Privacy Policy ](https://www.globaldata.com/privacy-policy/)\n * [ Contact Us ](https://www.globaldata.com/contact-us/)\n * [ Sitemap ](https://www.globaldata.com/sitemap/)\n * [ Modern Slavery Statement ](https://www.globaldata.com/wp-content/uploads/2021/03/FY2122-Modern-Slavery-FINAL.pdf)\n\n* * *\n\n__ Top of page\n\n\u00a9 GlobalData Plc 2025 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No. 03925319 \n\n * * * * \n\nSubmit\n\n \n\n[ Abbott Laboratories ](/company-profile/abbott-laboratories/) ; [ Pfizer Inc\n](/company-profile/pfizer-inc/) ; [ Medtronic Plc ](/company-\nprofile/medtronic-plc/) ; [ Shell plc ](/company-profile/royal-dutch-shell-\nplc/) ; [ BP Plc ](/company-profile/bp-plc/)\n\n",
"url": "https://www.globaldata.com/company-profile/cronos-group-inc/"
},
"reason": "GlobalData provides company profiles, including information on Cronos Group. This is a reputable source for business information, although it may contain some data that is not independently verifiable.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Company profile of Cronos Group Inc. from GlobalData.",
"url": "https://www.globaldata.com/company-profile/cronos-group-inc/"
},
{
"content": {
"metadata": {
"ext_id": "fcabd97b-3f7a-4975-a6b7-fd3aa3f24072",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.biospace.com/press-releases/cronos-appoints-anna-shlimak-as-chief-financial-officer"
},
"page_content": "[ SUBSCRIBE ](https://www.biospace.com/subscribe-to-newsletters)\n\n[ ](/)\n\n[ SUBSCRIBE ](https://www.biospace.com/subscribe-to-newsletters)\n\n[ Press Releases ](https://www.biospace.com/press-releases)\n\n# Cronos Appoints Anna Shlimak as Chief Financial Officer\n\nMarch 19, 2025 | \n\n5 min read\n\n * [ Twitter ](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer&text=Cronos%20Appoints%20Anna%20Shlimak%20as%20Chief%20Financial%20Officer)\n * [ LinkedIn ](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer&mini=true&title=Cronos%20Appoints%20Anna%20Shlimak%20as%20Chief%20Financial%20Officer&source=BioSpace)\n * [ Facebook ](https://www.facebook.com/dialog/share?app_id=2120989681618413&display=popup&href=https%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer)\n * [ Email ](mailto:?subject=Check%20out%20this%20article%20on%20BioSpace&body=Cronos%20Appoints%20Anna%20Shlimak%20as%20Chief%20Financial%20Officer%0A%0Ahttps%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer)\n * [ Print ](javascript:window.print\\(\\))\n\nTORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), an innovative global cannabinoid\ncompany, today announced the appointment of Anna Shlimak as Chief Financial\nOfficer, effective today. Ms. Shlimak, who previously served as Cronos\u2019 Chief\nStrategy Officer, will succeed James Holm who is stepping down to pursue other\nopportunities and will remain with the Company through April 18, 2025 to\nensure a seamless transition.\n\nMs. Shlimak has been an integral part of Cronos\u2019 leadership team for the last\nseven years, playing a key role in shaping the Company\u2019s strategy, operational\nefficiencies, and engagement with the financial and investment community.\nDuring her tenure, she has led many strategic initiatives including cost\noptimization, revenue growth, and building Cronos\u2019 corporate brand, which have\npositioned the Company for long-term success.\n\n\u201cI am incredibly pleased Anna Shlimak is stepping into the Chief Financial\nOfficer role,\u201d said Mike Gorenstein, President and Chief Executive Officer,\nCronos. \u201cAnna has been an essential part of our senior leadership team. With a\ndeep understanding of our business and a proven track record of driving\nfinancial performance, operational efficiency and strategic growth, Anna is\nthe ideal leader to help drive our financial strategy and next phase of\ngrowth.\n\nMr. Gorenstein continued, \u201cI want to sincerely thank James for his\ncontributions to Cronos. He played an important role in improving our finance\nfunctions and has worked to build a robust Finance team. His commitment to\nCronos has been essential and I thank James for everything he\u2019s contributed to\nthe Company and wish him all the best in his future endeavors.\u201d\n\nMr. Holm said, \u201cI'm incredibly proud of what we've accomplished over the past\ntwo and a half years and look forward to watching the Cronos team continue to\ndeliver strong results. Under Anna\u2019s leadership, I\u2019m confident the Company\nwill continue to grow and lead the cannabis industry on a global scale.\u201d\n\nMs. Shlimak said, \u201cI am honored to step into the role of CFO and continue\nworking alongside our talented teams. Cronos is committed to building\nexceptional cannabis brands and products that enhance experiences, and I am\nexcited to lead our financial and strategic growth as we continue to expand\nand drive performance. As we enter the next phase of growth, I look forward to\ndriving long-term value for our shareholders, employees, and consumers.\u201d\n\n**About Anna Shlimak** \nAnna recently served as the Company\u2019s Chief Strategy Officer and was\nresponsible for managing and directing the organization\u2019s corporate strategy,\ninvestor relations, communications, government affairs, and information\nsystems departments. Prior to joining Cronos, Anna was the Head of Investor\nRelations at Quest Partners LLC, a research-driven alternative investment\nfirm. Anna was responsible for business development, investor reporting,\nmarketing, and communication initiatives for the fund. Before that, Anna held\na range of roles at the New York Stock Exchange in both the New York and\nLondon offices. She received a Master of Business Administration from Columbia\nBusiness School and holds a Bachelor of Science in Economics from The Wharton\nSchool at the University of Pennsylvania.\n\n**About Cronos Group Inc.** \nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-looking Statements** \nThis press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about transition plans with respect to the\nCompany\u2019s Chief Financial Officer role; the Company\u2019s growth, industry\nleadership, success and financial strategy; long-term value for the Company\u2019s\nshareholders, employees and consumers; and the Company\u2019s intention to build an\ninternational iconic brand portfolio and develop disruptive intellectual\nproperty by advancing cannabis research, technology and product development.\nForward-looking Statements are necessarily based upon a number of estimates\nand assumptions that, while considered reasonable by management, are\ninherently subject to significant business, economic and competitive risks.\nFinancial results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and\nEDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement.\n\n**Media Relations Contact:** \nEmily Whalen \nCommunications \nTel: (416) 504-0004 \n[ _media.relations@thecronosgroup.com_\n](mailto:media.relations@thecronosgroup.com)\n\n**Investor Relations Contact:** \nTel: (416) 504-0004 \n[ _investor.relations@thecronosgroup.com_\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n * [ Twitter ](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer&text=Cronos%20Appoints%20Anna%20Shlimak%20as%20Chief%20Financial%20Officer)\n * [ LinkedIn ](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer&mini=true&title=Cronos%20Appoints%20Anna%20Shlimak%20as%20Chief%20Financial%20Officer&source=BioSpace)\n * [ Facebook ](https://www.facebook.com/dialog/share?app_id=2120989681618413&display=popup&href=https%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer)\n * [ Email ](mailto:?subject=Check%20out%20this%20article%20on%20BioSpace&body=Cronos%20Appoints%20Anna%20Shlimak%20as%20Chief%20Financial%20Officer%0A%0Ahttps%3A%2F%2Fwww.biospace.com%2Fpress-releases%2Fcronos-appoints-anna-shlimak-as-chief-financial-officer)\n * [ Print ](javascript:window.print\\(\\))\n\n[ Canada ](https://www.biospace.com/canada) [ Executive appointments\n](https://www.biospace.com/executive-appointments)\n\nMORE ON THIS TOPIC\n\n[ ](https://www.biospace.com/business/top-6-highest-paid-pharma-ceos-in-2024)\n\n[ Compensation ](https://www.biospace.com/compensation)\n\n[ Top 6 Highest-Paid Pharma CEOs in 2024\n](https://www.biospace.com/business/top-6-highest-paid-pharma-ceos-in-2024)\n\nApril 16, 2025\n\n\u00b7\n\n7 min read\n\n\u00b7\n\n[ Annalee Armstrong ](https://www.biospace.com/annalee-armstrong)\n\n[ ](https://www.biospace.com/business/vir-leans-into-immunology-roots-after-\nflamed-out-covid-fame)\n\n[ Leadership ](https://www.biospace.com/leadership)\n\n[ Vir Leans Into Immunology Roots After Flamed-Out COVID Fame\n](https://www.biospace.com/business/vir-leans-into-immunology-roots-after-\nflamed-out-covid-fame)\n\nFebruary 12, 2025\n\n\u00b7\n\n5 min read\n\n\u00b7\n\n[ Annalee Armstrong ](https://www.biospace.com/annalee-armstrong)\n\n[ ](https://www.biospace.com/business/a-lack-of-women-in-leadership-is-the-\nbiopharma-story-that-never-ends)\n\n[ Editorial ](https://www.biospace.com/editorial)\n\n[ A Lack of Women in Leadership Is the Biopharma Story That Never Ends\n](https://www.biospace.com/business/a-lack-of-women-in-leadership-is-the-\nbiopharma-story-that-never-ends)\n\nFebruary 5, 2025\n\n\u00b7\n\n4 min read\n\n\u00b7\n\n[ Annalee Armstrong ](https://www.biospace.com/annalee-armstrong)\n\n[ ](https://www.biospace.com/business/women-leaders-decline-in-biotechs-era-\nof-proven-leadership)\n\n[ Executive appointments ](https://www.biospace.com/executive-appointments)\n\n[ Women Leaders Decline in Biotech\u2019s Era of \u2018Proven Leadership\u2019\n](https://www.biospace.com/business/women-leaders-decline-in-biotechs-era-of-\nproven-leadership)\n\nFebruary 5, 2025\n\n\u00b7\n\n8 min read\n\n\u00b7\n\n[ Annalee Armstrong ](https://www.biospace.com/annalee-armstrong)\n\n[ ](/)\n\n_BioSpace_ is the digital hub for life science news and jobs. We provide\nessential insights, opportunities and tools to connect innovative\norganizations and talented professionals who advance health and quality of\nlife across the globe.\n\n\u00a9 1985 - 2025 BioSpace.com. All rights reserved.\n\n * [ twitter ](https://twitter.com/biospace)\n * [ instagram ](https://www.instagram.com/biospacenews/)\n * [ facebook ](https://www.facebook.com/biospacecommunity)\n * [ linkedin ](https://www.linkedin.com/company/biospaceinc)\n\n",
"url": "https://www.biospace.com/press-releases/cronos-appoints-anna-shlimak-as-chief-financial-officer"
},
"reason": "This is a press release announcing the appointment of a new CFO. BioSpace is a reputable source for biotech and pharmaceutical news, making this a reliable source for this specific information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos appoints Anna Shlimak as Chief Financial Officer.",
"url": "https://www.biospace.com/press-releases/cronos-appoints-anna-shlimak-as-chief-financial-officer"
},
{
"content": {
"metadata": {
"ext_id": "380119d3-fc1f-4a6a-99fd-52f1f0aa1611",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newcannabisventures.com/cronos-group-q1-revenue-decreases-3-sequentially-to-25-million/"
},
"page_content": "__\n\n \n\nMay 10, 2022 at 8:13 am\n\nPublished by NCV Newswire\n\n[\n](https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Fcronos-\ngroup-q1-revenue-decreases-3-sequentially-\nto-25-million%2F&linkname=Cronos%20Group%20Q1%20Revenue%20Decreases%203%25%20Sequentially%20to%20%2425%20Million\n\"Facebook\") [\n](https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Fcronos-\ngroup-q1-revenue-decreases-3-sequentially-\nto-25-million%2F&linkname=Cronos%20Group%20Q1%20Revenue%20Decreases%203%25%20Sequentially%20to%20%2425%20Million\n\"Twitter\") [\n](https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Fcronos-\ngroup-q1-revenue-decreases-3-sequentially-\nto-25-million%2F&linkname=Cronos%20Group%20Q1%20Revenue%20Decreases%203%25%20Sequentially%20to%20%2425%20Million\n\"LinkedIn\")\n\n****\n\n * **Consolidated net revenue increased by 99% year-over-year to $25.0 million in Q1 2022**\n * **Israel net revenue increased by 263% year-over-year to $9.1 million in Q1 2022**\n * **Increased market share in Canada and Israel in Q1 2022**\n * **Mike Gorenstein returned as Chief Executive Officer**\n\nTORONTO, May 10, 2022 (GLOBE NEWSWIRE) \u2014 [ Cronos Group Inc.\n](https://www.newcannabisventures.com/tag/cronos-group/) (NASDAQ: CRON) (TSX:\nCRON) (\u201cCronos Group\u201d or the \u201cCompany\u201d), today announces its 2022 first\nquarter business results.\n\n\u201cI founded Cronos because of the once-in-a-lifetime opportunity to help build\nand shape an industry that has the potential to improve countless lives. As\nCEO, I am committed to re-instilling a start-up culture with a founder\u2019s\nmentality across all levels of the organization,\u201d said Mike Gorenstein,\nChairman, President and CEO, Cronos Group. \u201cThe strategic realignment we\nannounced in the first quarter of 2022 reset the organization to this mindset\nand we are seeing the benefits show through in our performance.\u201d\n\n> Our execution in product development, manufacturing, and go to market\n> strategy resulted in strong growth in both net revenue and gross profit in\n> the first quarter of 2022, proving that we are headed in the right\n> direction. Our Spinach\u00ae brand is one of the most sought-after brands in the\n> Canadian adult-use market, known for bringing high quality and\n> differentiated products to the consumer. We are also winning with branded\n> products in Israel, with Peace Naturals\u00ae driving significant revenue growth\n> in the first quarter of 2022.\n\n#####\n\n> As we execute our strategic realignment, I am encouraged with the progress\n> we are making by increasing our market share in both Canada and Israel, and\n> continuing to bring disruptive branded products to market. In combination\n> with our industry leading balance sheet, our borderless products, such as\n> SOURZ by Spinach\u2122 winning in Canada, is one of the best ways to be prepared\n> for legalization in the U.S.\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-1.png) [\n](https://www.newcannabisventures.com/wp-content/uploads/2022/05/cronos-2.png)\n\n**First Quarter 2022**\n\n * Net revenue of $25.0 million in Q1 2022 increased by $12.4 million from Q1 2021. The increase year-over-year was primarily driven by an increase in net revenue in the Rest of World (\u201cROW\u201d) segment driven by growth in the Israeli medical market and the Canadian adult-use market. \n * Gross profit of $6.9 million in Q1 2022 improved by $9.9 million from Q1 2021. The improvement year-over-year was primarily driven by increased cannabis flower revenue in the ROW segment, the introduction of additional cannabis extract products in the ROW segment that carry a higher gross profit and gross margin than other product categories, lower inventory valuation adjustments, lower depreciation expense as a result of the lower fair value of the Peace Naturals Campus in connection with the impairment taken in Q4 2021, and lower cannabis biomass costs as we began to further leverage our joint venture with Cronos Growing Company Inc. (\u201cCronos GrowCo\u201d). \n * Adjusted EBITDA of $(18.9) million in Q1 2022 improved by $17.7 million from Q1 2021. The improvement year-over-year was primarily driven by the improvement in gross profit and a decrease in sales and marketing and research and development (\u201cR&D\u201d) expenses. \n * Capital expenditures of $0.7 million in Q1 2022 decreased by $6.3 million from Q1 2021. The decrease year-over-year was primarily driven by decreased spending on property, plant and equipment in the ROW segment. \n\n**Business Updates**\n\n**Strategic and Organizational Update**\n\nIn the first quarter of 2022, the Company initiated a strategic plan to\nrealign the business around its brands, centralize functions and evaluate the\nCompany\u2019s supply chain (the \u201cRealignment\u201d). The organizational and cost\nreduction initiatives undertaken are intended to better position Cronos Group\nto drive profitable and sustainable growth over time. The program consists of\nthe following:\n\n 1. Centralizing functions under common leadership to increase efficient distribution of resources, improve strategic alignment and eliminate duplicative roles and costs; \n 2. Evaluating the Company\u2019s global supply chain and reducing complexity and fixed expenses, which resulted in the announcement of the planned exit of the Peace Naturals Campus in Stayner, Ontario, and the Company\u2019s ongoing review of product, pricing and distribution optimization; and \n 3. Implementing an operating expense target to optimize cash deployment for activities such as margin accretive innovation and U.S. adult-use market entry. The overall strategic realignment initiative is expected to deliver $20 to $25 million in initially identified savings across operating expense categories in 2022, primarily driven by savings in sales and marketing, general and administrative, and research and development. \n\n**Brand and Product Portfolio**\n\nIn April 2022, the Company expanded its SOURZ by Spinach\u2122 gummy portfolio with\na new flavor, Cherry Lime, in a five piece per pack format with 2mg of THC per\npiece. The Company now has five SKUs in the gummy category across its SOURZ by\nSpinach\u2122 and Spinach FEELZ\u2122 sub-brands.\n\nSpinach\u00ae continues to organically grow market share across Canada, most\nnotably, Spinach\u00ae held an approximate 13% market share in the edibles\ncategory, which expands to approximately 17% within the gummy category during\nQ1 2022, according to Hifyre data. Furthermore, three out of the four SOURZ by\nSpinach\u2122 gummies ranked in the top-10 for market share in Canada in Q1 2022,\naccording to Hifyre data. Having launched its first gummy product in July\n2021, the consumer adoption of Spinach\u00ae gummies speaks to the strong\ninnovation Cronos Group is bringing to market. Furthermore, in April 2022, the\nSpinach\u00ae vape portfolio entered Ontario\u2019s top-10 in market share. The Company\nwill continue to launch new vape products in May, including Cosmic Green Apple\nand Polar Mint Vortex, across various provinces in an effort to continue to\nexpand market share within the category.\n\n**Global Supply Chain**\n\nIn the first quarter of 2022, the Company began to leverage Cronos GrowCo\u2019s\ncapabilities as part of the Realignment. These activities include, among\nothers, the transfer of certain manufacturing equipment to Cronos GrowCo from\nthe Peace Naturals Campus. In April 2022, the Company began building dedicated\nspace within Cronos GrowCo for various manufacturing and R&D activities.\n\nIn the first quarter of 2022, Cronos GrowCo reported preliminary unaudited net\nrevenue of approximately $7.0 million to licensed producers excluding sales to\nthe Company.\n\n**Appointments**\n\nIn March 2022, the Board of Directors appointed Cronos Group\u2019s founder, Mike\nGorenstein, as Chairman, President and Chief Executive Officer, in connection\nwith Kurt Schmidt\u2019s retirement. Mr. Gorenstein previously served as Chairman,\nPresident and Chief Executive Officer of Cronos Group until September 2020,\nwhen he transitioned to the Executive Chairman role.\n\nIn April 2022, the Company appointed Terry Doucet as Senior Vice President,\nLegal, Regulatory Affairs and Corporate Secretary, after serving in an interim\ncapacity since December 2021. Mr. Doucet has been with Cronos Group since 2018\nand has guided Cronos Group through significant growth over the last few\nyears, including the build-out of the Company\u2019s Legal and Regulatory Affairs\nteams, our strategic investment from Altria Group Inc., our R&D partnership\nwith Ginkgo Bioworks Holdings Inc. (the \u201cGinkgo Strategic Partnership\u201d), the\nPharmaCann Option (as defined below) and various product commercialization\ninitiatives.\n\n**Rest of World Results**\n\nCronos Group\u2019s ROW reporting segment includes results of the Company\u2019s\noperations for all markets outside of the U.S.\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-3-e1652183983938.png)\n\n**First Quarter 2022**\n\n * Net revenue of $22.7 million in Q1 2022 increased by $12.5 million from Q1 2021. The increase year-over-year was primarily driven by an increase in net revenue in the Israeli medical market largely attributable to the cannabis flower category and the Canadian adult-use market driven primarily by cannabis extracts used in edibles and vaporizers. \n * Gross profit of $6.7 million in Q1 2022 improved by $10.8 million from Q1 2021. The improvement year-over-year was primarily driven by increased cannabis flower revenue, the introduction of additional cannabis extract products that carry a higher gross profit and gross margin than other product categories, lower inventory valuation adjustments, lower depreciation expense as a result of the lower fair value of the Peace Naturals Campus in connection with the impairment taken in Q4 2021, and lower cannabis biomass costs as we began to further leverage our joint venture with Cronos GrowCo. \n\n**United States Results**\n\nCronos Group\u2019s U.S. reporting segment includes results of the Company\u2019s\noperations for all brands and products in the U.S.\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-4.png)\n\n**First Quarter 2022**\n\n * Net revenue of $2.3 million in Q1 2022 decreased by $0.1 million from Q1 2021. The decrease year-over-year was primarily driven by a reduction in volume as a result of a decrease in promotional spend as the Company works through its review of the U.S. business as part of the Realignment. \n * Gross profit of $0.2 million in Q1 2022 decreased by $1.0 million from Q1 2021. The decrease year-over-year was primarily due to increased inventory valuation adjustments, higher shipping costs and unfavorable sales mix. \n\n**Conference Call**\n\nThe Company will host a conference call and live audio webcast on Tuesday, May\n10, 2022, at 8:30 a.m. ET to discuss 2022 First Quarter business results. An\naudio replay of the call will be archived on the Company\u2019s website for replay.\nInstructions for the conference call are provided below:\n\n * _Live audio webcast:[ https://ir.thecronosgroup.com/events-presentations ](https://ir.thecronosgroup.com/events-presentations) _\n * _Toll-Free from the U.S. and Canada dial-in: (866) 795-2258_\n * _International dial-in: (409) 937-8902_\n * _Conference ID: 1888263_\n\n**About Cronos Group**\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos Group is building an iconic brand portfolio. Cronos Group\u2019s\ndiverse international brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae, Lord\nJones\u00ae, Happy Dance\u00ae and PEACE+\u2122. For more information about Cronos Group and\nits brands, please visit: [ thecronosgroup.com ](http://thecronosgroup.com) .\n\n**Cronos Group Inc.** \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts)_\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-5.png) [\n](https://www.newcannabisventures.com/wp-content/uploads/2022/05/cronos-6.png)\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-7.png) [\n](https://www.newcannabisventures.com/wp-content/uploads/2022/05/cronos-8.png)\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-9.png) [\n](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-10.png) [\n](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-11.png)\n\n**Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This press\nrelease refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis press release are reconciled to their closest reported U.S. GAAP measure.\nReconciliations of historical adjusted financial measures to corresponding\nU.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance of our operating segments. Management defines Adjusted\nEBITDA as net income (loss) before interest, tax expense, depreciation and\namortization adjusted for: share of loss from equity accounted investments;\nimpairment loss on goodwill and intangible assets; impairment loss on long-\nlived assets; (gain) loss on revaluation of derivative liabilities; (gain)\nloss on revaluation of financial instruments; transaction costs related to\nstrategic projects; impairment loss on other investments; foreign currency\ntransaction loss; other, net; loss from discontinued operations; restructuring\ncosts; share-based compensation; and review costs related to the restatements\nof the Company\u2019s 2019 and 2021 interim financial statements, including the\ncosts related to the Company\u2019s responses to the reviews of such interim\nfinancial statements by various regulatory authorities and legal costs\ndefending shareholder class action complaints brought against the Company as a\nresult of the 2019 restatement. Impairment loss on other investments has been\nincluded as an adjustment to Adjusted EBITDA due to the PharmaCann Option\nimpairment analysis. Foreign currency transaction loss has been included as an\nadjustment to Adjusted EBITDA for the anticipated settlement of intercompany\nloans. Additionally, restructuring costs have been included as an adjustment\nto Adjusted EBITDA in light of the Realignment and exit from the Stayner\nFacility.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-12.png) [\n](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-13.png)\n\n_(i) For the three months ended March 31, 2022, impairment loss on long-lived\nassets related to the Company\u2019s decision to seek a sublease for leased office\nspace located in Toronto, Ontario, Canada. For the three months ended March\n31, 2021, impairment loss on long-lived assets related to an impairment on\nleased premises in the U.S. segment._ \n_(ii) For the three months ended March 31, 2022 and 2021, (gain) loss on\nrevaluation of derivative liabilities represents the fair value changes on the\nderivative liabilities._ \n_(iii) For the three months ended March 31, 2021, transaction costs represent\nlegal, financial and other advisory fees and expenses incurred in connection\nwith various strategic investments. These costs are included in general and\nadministrative expenses on the condensed consolidated statements of net income\n(loss) and comprehensive income (loss)._ \n_(iv) For the three months ended March 31, 2022, gain on revaluation of\nfinancial instruments related primarily to the Company\u2019s equity securities in\nCronos Australia Limited. For the three months ended March 31, 2021, loss on\nrevaluation of financial instruments related primarily to revaluations of\nfinancial liabilities resulting from Deferred Share Units._ \n_(v) For the three months ended March 31, 2022, impairment loss on other\ninvestments related to the PharmaCann Option for the difference between its\nfair value and carrying amount._ \n_(vi) For the three months ended March 31, 2022 and 2021, other, net is\nprimarily related to (gain) loss on reclassification of held-for-sale assets\nand (gain) loss on disposal of assets._ \n_(vii) For the three months ended March 31, 2021, loss from discontinued\noperations related to the discontinuance of Original B.C. Ltd._ \n_(viii) For the three months ended March 31, 2022, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment and the exit of the Stayner Facility._ \n_(ix) For the three months ended March 31, 2022 and 2021, share-based\ncompensation related to the vesting expenses of share-based compensation\nawarded to employees under the Company\u2019s share-based award plans._ \n_(x) For the three months ended March 31, 2022 and 2021, financial statement\nreview costs include costs related to the restatements of the Company\u2019s 2019\nand second quarter 2021 interim financial statements, costs related to the\nCompany\u2019s responses to requests for information from various regulatory\nauthorities relating to such restatement and legal costs defending shareholder\nclass action complaints brought against the Company as a result of the 2019\nrestatement._\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars (\u201cUSD\u201d),\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to USD. The assets and liabilities of the Company\u2019s\nforeign operations are translated into USD at the exchange rate in effect as\nof March 31, 2022, March 31, 2021 and December 31, 2021. Transactions\naffecting shareholders\u2019 equity are translated at historical foreign exchange\nrates. The consolidated statements of net income (loss) and comprehensive\nincome (loss) and the consolidated statements of cash flows of the Company\u2019s\nforeign operations are translated into USD by applying the average foreign\nexchange rate in effect for the reporting period using Bloomberg.\n\nThe exchange rates used to translate from USD to Canadian dollars (\u201cC$\u201d) is\nshown below:\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-14.png)\n\n[ Original press release ](http://thecronosgroup.gcs-web.com/news-\nreleases/news-release-details/cronos-group-reports-2022-first-quarter-results)\n\nPublished by NCV Newswire\n\nThe NCV Newswire by New Cannabis Ventures aims to curate high quality content\nand information about leading cannabis companies to help our readers filter\nout the noise and to stay on top of the most important cannabis business news.\nThe NCV Newswire is hand-curated by an editor and not automated in anyway.\nHave a confidential news tip? [ Get in touch\n](https://form.jotform.com/53395769996179) .\n\n \n\n## Get Our Sunday Newsletter\n\n## In This Article:\n\n**[ CRON ](https://www.newcannabisventures.com/tag/cron/) , [ Cronos Group\n](https://www.newcannabisventures.com/tag/cronos-group/) **\n\n## Related News:\n\n### [ Looking at the Cannabis Meltdown by Sub-Sector\n](https://www.newcannabisventures.com/looking-at-the-cannabis-meltdown-by-sub-\nsector/) ### [ Canadian Cannabis Sales Sank in January\n](https://www.newcannabisventures.com/canadian-cannabis-sales-sank-in-\njanuary/) ### [ One Cannabis Sub-Sector Rallied\n](https://www.newcannabisventures.com/one-cannabis-sub-sector-rallied/) ### [\nCanadian Cannabis Sales Soared in December\n](https://www.newcannabisventures.com/canadian-cannabis-sales-soar-in-\ndecember/)\n\n* * *\n\n* ### **Latest News**\n\nApril 24th, 2025\n\nYou\u2019re reading this week\u2019s edition of the New Cannabis...\n\nApril 17th, 2025\n\nYou\u2019re reading this week\u2019s edition of the New Cannabis...\n\n* ### **Get The App**\n\nDownload the free \u201cNew Cannabis Ventures\u201d app on the iOS App Store or Google\nPlay and get real-time push notifications straight to your phone on the latest\nbreaking news and exclusives published.\n\n* * *\n\n[ ](https://itunes.apple.com/us/app/ncv-news/id1123542865?ls=1&mt=8)\n\n[ ](https://play.google.com/store/apps/details?id=com.ncvnews.app.android)\n\n* ### **NCV Media**\n\n#### Thank you for reading\n\n#### New Cannabis Ventures\n\nContributing original content and curating quality news on only the most\npromising cannabis companies and the most influential investors.\n\nFollow us on \n\n[ __ ](https://www.facebook.com/ncvmedia) [ __ ](https://twitter.com/ncvmedia)\n[ __ ](https://www.linkedin.com/company/new-cannabis-ventures/)\n\n\u00a9 [ NCV Media, LLC. ](/)\n\n * [ About ](https://www.newcannabisventures.com/about-new-cannabis-ventures/)\n * [ Contact ](https://www.newcannabisventures.com/contact/)\n * [ Newsletter ](https://www.newcannabisventures.com/subscribe/)\n * [ Advertising ](https://www.newcannabisventures.com/cannabis-advertising/)\n * [ Privacy ](https://www.newcannabisventures.com/privacy-policy/)\n * [ Disclaimer ](https://www.newcannabisventures.com/disclaimer/)\n * [ Status ](http://status.newcannabisventures.com/4262862)\n\n",
"url": "https://www.newcannabisventures.com/cronos-group-q1-revenue-decreases-3-sequentially-to-25-million/"
},
"reason": "New Cannabis Ventures is a specialized news source focused on the cannabis industry. While potentially having a slight industry bias, it provides focused reporting and data. The article explicitly mentions Cronos Group and its financial performance.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group Q1 revenue decreases 3% sequentially to $25 million, according to New Cannabis Ventures.",
"url": "https://www.newcannabisventures.com/cronos-group-q1-revenue-decreases-3-sequentially-to-25-million/"
},
{
"content": {
"metadata": {
"ext_id": "787f0581-1ef9-42b4-8c51-2131bc5448ca",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://investingnews.com/trulieve-cannabis-corp-to-hold-fourth-quarter-and-full-year-2024-results-conference-call-on-february-27-2025/"
},
"page_content": "[ ](/ \"link to homepage\")\n\n * Australia \n\nNorth America\n\nWorld\n\n[ Login ](/my-inn)\n\n# [ Investing News **Network** Your trusted source for investing success\n](/)\n\n[ Videos ](/videos/)\n\n[ Companies ](/company-profiles/)\n\n[ Press Releases ](/press-releases/)\n\n[ Private Placements ](/private-placement-directory/)\n\n[ SUBSCRIBE ](/newsletters/)\n\n * [ Reports & Guides ](/market-outlook-reports/ \"Reports & Guides\")\n\n * [ Market Outlook Reports ](/market-outlook-reports/ \"Market Outlook Reports\")\n * [ Investing Guides ](/investing-guides/ \"Investing Guides\")\n\n * [ ](javascript:;)\n\n[ Resource ](/category/daily/resource-investing/)\n\n * [ Precious Metals ](/category/daily/resource-investing/precious-metals-investing/ \"Precious Metals\")\n * [ Battery Metals ](/category/daily/resource-investing/battery-metals-investing/ \"Battery Metals\")\n * [ Base Metals ](/category/daily/resource-investing/base-metals-investing/ \"Base Metals\")\n * [ Energy ](/category/daily/resource-investing/energy-investing/ \"Energy\")\n * [ Critical Metals ](/category/daily/resource-investing/critical-metals-investing/ \"Critical Metals\")\n\n[ Tech ](/category/daily/tech-investing/)\n\n[ Life Science ](/category/daily/life-science-investing/)\n\n[ Market Market ](/category/daily/market-news)\n\n[ Market News ](/press-releases/?newssections=market-news)\n\n[ Market Stocks ](/category/daily/market-news/company-profiles/)\n\n * [ Market Market ](/category/daily/market-news)\n * [ Market News ](/press-releases/?newssections=market-news)\n * [ Market Stocks ](/category/daily/market-news/company-profiles/)\n\n# Trulieve Cannabis Corp. to Hold Fourth Quarter and Full Year 2024 Results\nConference Call on February 27, 2025\n\n[ Investing News Network ](https://investingnews.com/author/admin/)\n\nFebruary 05, 2025\n\nTrulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) (\"Trulieve\" or \"the\nCompany\"), a leading and top-performing cannabis company in the U.S., will\nhold a conference call on Thursday, February 27, 2025 at 8:30 AM Eastern Time\nfollowing the release of its fourth quarter and full year 2024 financial\nresults.\n\n[ ](https://mma.prnewswire.com/media/1720011/Trulieve_LogoV1.html)\n\nChairman, Founder, and Chief Executive Officer Kim Rivers and Chief\nFinancial Officer Wes Getman will participate on the call to review\nTrulieve's financial and operating results.\n\nInterested parties can join the conference call by dialing in as directed\nbelow. Please dial in 15 minutes prior to the call and ask to join the\nTrulieve Cannabis Corp. call.\n\nNorth American toll free: 1-844-824-3830 | Passcode: | 0313762 \n---|---|--- \nInternational: 1-412-542-4136 | Passcode: | 0313762 \n \nA live audio webcast of the conference call will be available at: \n[ Trulieve Fourth Quarter and Full Year 2024 Results Call\n](https://app.webinar.net/2rPXwoagz9W)\n\nAn archived replay of the webcast will be available at: \n[ https://investors.trulieve.com/events\n](https://investors.trulieve.com/events)\n\n**About Trulieve \n** Trulieve is an industry leading, vertically integrated cannabis company\nand multi-state operator in the U.S., with leading market positions in\nArizona, Florida, and Pennsylvania. Trulieve is poised for accelerated\ngrowth and expansion, building scale in retail and distribution in new and\nexisting markets through its hub strategy. By providing innovative, high-\nquality products across its brand portfolio, Trulieve delivers optimal\ncustomer experiences and increases access to cannabis, helping patients and\ncustomers to live without limits. Trulieve is listed on the CSE under the\nsymbol TRUL and trades on the OTCQX market under the symbol TCNNF . For\nmore information, please visit [ Trulieve.com ](https://www.trulieve.com/) .\n\nFacebook: [ @Trulieve ](https://www.facebook.com/Trulieve/) \nInstagram: [ @Trulieve ](https://www.instagram.com/trulieve_/?hl=en) [ _\n](https://www.instagram.com/trulieve_/?hl=en) \nX: [ @Trulieve\n](https://twitter.com/Trulieve?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor)\n\n**Investor Contact** \nChristine Hersey , Vice President of Investor Relations \n+1 (424) 202-0210 \n[ Christine.Hersey@Trulieve.com ](mailto:Christine.Hersey@Trulieve.com)\n\n**Media Contact** \nPhil Buck , APR, Corporate Communications Manager \n+1 (406) 370-6226 \n[ Philip.Buck@Trulieve.com ](mailto:Philip.Buck@Trulieve.com)\n\nView original content to download multimedia: [\nhttps://www.prnewswire.com/news-releases/trulieve-cannabis-corp-to-hold-\nfourth-quarter-and-full-year-2024-results-conference-call-on-\nfebruary-27-2025-302368139.html ](https://www.prnewswire.com/news-\nreleases/trulieve-cannabis-corp-to-hold-fourth-quarter-and-full-\nyear-2024-results-conference-call-on-february-27-2025-302368139.html)\n\nSOURCE Trulieve Cannabis Corp.\n\nView original content to download multimedia: [\nhttp://www.newswire.ca/en/releases/archive/February2025/05/c7953.html\n](http://www.newswire.ca/en/releases/archive/February2025/05/c7953.html)\n\nNews Provided by Canada Newswire via QuoteMedia\n\n[ cannabis investing ](https://investingnews.com/tag/cannabis-investing) [\ntrul:cnx ](https://investingnews.com/tag/trul-cnx) [ Cannabis Investing\n](https://investingnews.com/tag/cannabis-investing)\n\nTCNNF,TRUL:CNX\n\nThe Conversation (0)\n\n[ ](https://investingnews.com/asx-cannabis-stocks)\n\n[ Melissa Pistilli ](https://investingnews.com/author/melissa-pestilli/)\n\n25 March\n\n## [ ASX Cannabis Stocks: 10 Biggest Companies\n](https://investingnews.com/asx-cannabis-stocks)\n\n**While Australia has yet to legalise all forms of cannabis, the country is a\ngrowing medical cannabis and hemp market, with many companies manufacturing,\nresearching and exporting the plant-based product.**\n\nMedical cannabis was [ federally legalised\n](https://www.cnn.com/2016/02/24/health/medical-marijuana-legal-australia-\nirpt/index.html) in 2016, and the [ export of cannabis\n](https://investingnews.com/australia-cannabis-exports/) from Australia was\nlegalised in 2018. As for recreational use, the only [ state to legalise\nrecreational use ](https://investingnews.com/guide-to-cannabis-in-australia)\nand possession so far is the Australian Capital Territory, which did so in\n2020, but it did not establish a regulated recreational cannabis market.\n\nThe country's medical cannabis market has been [ steadily expanding\n](https://investingnews.com/australia-cannabis-forecast/) in size and scope. A\nPenington Institute report [ shows ](https://www.penington.org.au/wp-\ncontent/uploads/2024/11/Penington-Institute-Cannabis-in-Australia-2024.pdf)\nthat Australians spent approximately AU$400 million on medicinal cannabis in\nthe first half of 2024, 72 percent higher than the AU$234 million they spent\nover the entirety of 2022.\n\nMoving forward, [ Grandview Research forecasted\n](https://www.grandviewresearch.com/industry-analysis/australia-medical-\ncannabis-market-report) a compound annual growth rate of 33.6 percent between\n2024 to 2030 for the country's medical cannabis market.\n\nAustralian cannabis companies listed on the [ ASX\n](https://investingnews.com/sp-asx-200-index/) are operating in this space,\ncreating goods such as medicines, flower and hemp products. Some ASX-listed\ncannabis companies are also producing recreational cannabis in other\ncountries.\n\nHere the Investing News Network profiles the 10 biggest cannabis stocks on the\nASX by market cap. Australian cannabis stocks are listed in order of market\ncap from largest to smallest, with data compiled using TradingView\u2019s [ stock\nscreener ](https://www.tradingview.com/screener/) on March 18, 2025.\n\n### 1\\. [ Botanix Pharmaceuticals (ASX:BOT)\n](https://investingnews.com/botanix-pharmaceuticals/)\n\n[ Company Profile ](https://investingnews.com/botanix-pharmaceuticals/)\n\n**Market cap:** AU$786.74 million \n**Share price:** AU$0.41\n\nThe largest medical cannabis company on the ASX is Botanix Pharmaceuticals.\nBased in Perth, Western Australia, this biopharmaceutical firm specialises in\ncannabinoid-based dermatological therapies. According to the company, its\nexclusive Permetrex technology helps its products permeate the skin, and treat\nskin conditions from below the surface.\n\nThe company\u2019s lead product is Sofdra, which is targeted for the treatment of\naxillary hyperhidrosis, or excessive sweating. Sofdra was approved in Japan in\n2020 under the name Ecclock, and in June 2024 received US Food and Drug\nAdministration (FDA) [ approval ](https://cdn-api.markitdigital.com/apiman-\ngateway/ASX/asx-research/1.0/file/2924-02819259-6A1212299) as well.\n\nBotanix\u2019s product pipeline also includes several drug candidates harnessing\nthe anti-inflammatory and antimicrobial properties of synthetic cannabidiol to\ntreat moderate to severe acne, rosacea and atopic dermatitis. The company is\nalso developing an antimicrobial solution for treating staphylococcus aureus\ninfections.\n\n### 2\\. [ Vitura Health (ASX:VIT) ](https://investingnews.com/stocks/vit-\nau/vitura-health/)\n\n[ Company Profile ](https://investingnews.com/stocks/vit-au/vitura-health/)\n\n** Market cap: ** AU$48.34 million \n**Share price:** AU$0.073\n\n__ [ Formerly Cronos Australia\n](https://www.kapitales.com.au/articles/trending/cronos-australia-changes-\nname-to-vitura-health-limited) , Vitura Health is a digital health platform\nbusiness that connects patients, doctors, pharmacists and suppliers across its\ndigital health ecosystem. The company has built a significant foothold in\nAustralia\u2019s medical cannabis sector through a number of verticals and\nestablished brands.\n\nVitura Health subsidiary Burleigh Heads Cannabis distributes medical cannabis\nproducts via the Canview online platform. Canview allows patients to preview\nmedical cannabis offerings, and doctors and pharmacists can then prescribe and\ndistribute treatments.\n\nVitura Health operates CDA Clinics, a network of clinics staffed with\nhealthcare professionals offering consultation on plant-based medications\nincluding medical cannabis. In February 2025, the company [ acquired Candor\nMedical ](https://finance.yahoo.com/news/vitura-health-acquire-candor-\nmedical-013900899.html) , another Australian medical cannabis clinic business.\n\nIt also has a 75.5 percent position in Cannadoc, which offers nationwide\ntelehealth consultations with patients seeking access to medicinal cannabis.\n\n### 3\\. [ IDT Australia (ASX:IDT) ](https://investingnews.com/idt-australia-\nltd/)\n\n[ Company Profile ](https://investingnews.com/idt-australia-ltd/)\n\n**Market cap:** AU$41.35 million \n**Share price:** AU$0.10\n\n__ Contract drug manufacturing company IDT Australia is licensed to make\nactive pharmaceutical ingredients and finished-dose forms of medicines and\ntreatments. Its license covers medicinal cannabis products for local and\ninternational markets.\n\nIn fact, IDT plays an important role in Australia\u2019s medical cannabis products\nsupply chain. Its [ specialised services ](https://en.idtaus.com.au/specialty-\norals/) include the manufacturing of solid oral and sterile liquid dosage\nforms of high-CBD and high-THC options, and resin extraction. The company\u2019s\nin-house analytical laboratory offers a range of testing and stability\nservices in line with the current good manufacturing practices (cGMP).\n\n\u201cLeveraging our extensive cGMP and specialty pharma experience, we have\ndeveloped exceptional medicinal cannabis products that surpass current\nregulatory expectations,\u201d [ the company\u2019s website states\n](https://en.idtaus.com.au/specialty-orals/psychedelics-medicinal-cannabis/) .\n\n### 4\\. [ Little Green Pharma (ASX:LGP)\n](https://investingnews.com/stocks/lgp-au/lgp-au/)\n\n[ Company Profile ](https://investingnews.com/stocks/lgp-au/lgp-au/)\n\n**Market cap:** AU$39.39 million \n**Share price:** AU$0.13\n\nLittle Green Pharma is a medical cannabis company that places a strong\nemphasis on affordability for patients. The company was the \u201cfirst Australian\nproducer and exporter of cannabis medicines.\u201d The company sells branded and\nwhite label products that are available in orally ingestible oils as well as\nflower, and are grown and manufactured in Australia and Denmark.\n\nIts products are available in Australia, as well as European companies such as\nGermany, the UK and France. Little Green Pharma has plans to target other\nEuropean markets too.\n\nIn its fiscal Q3 2025 [ quarterly report\n](https://investlittlegreenpharma.com/site/pdf/045df8ac-a1f5-49dc-a6ac-\necfd9846fa63/December-2024_Quarterly-Activities-Report-and-Appendix-4C.pdf)\nreleased in December 2024, Little Green Pharma boasted a revenue of AU$9.5\nmillion, an increase of 75 percent over the same quarter in the previous\nperiod. For the first three quarters of its fiscal 2025, the company's revenue\ntotalled AU$27 million, surpassing its 2024 full-year revenue of AU$25.6\nmillion.\n\n### 5\\. [ Neurotech (ASX:NTI) ](https://investingnews.com/stocks/asx-\nnti/neurotech-fpo-nti/)\n\n[ Company Profile ](https://investingnews.com/stocks/asx-nti/neurotech-fpo-\nnti/)\n\n**Market cap:** AU$36.47 million \n**Share price:** AU$0.038\n\nNeurotech International is bringing cannabis-based medicines through clinical\ntrials, with a focus on autism spectrum disorder (ASD). Its leading treatment\nis [ NTI164 ](https://neurotechinternational.com/biopharmaceutical-\ntrials/#nti164) , a cannabis-based medicine featuring a high amount of the\ncannabinoid CBDA, alongside other minor cannabinoids. It is being developed to\ntreat a range of neurological conditions in children.\n\n[ Phase I/II trials\n](https://www.investi.com.au/api/announcements/nti/c2330eb5-35c.pdf) of the\ndrug revealed that after eight weeks, children with ASD taking NTI164 showed\ndecreased levels of anxiety and depression, as reported in July 2024. This\nfollows an [ April 2024 report\n](https://www.investi.com.au/api/announcements/nti/3e87a498-65a.pdf) that the\nresults of the NTIASD2 trial \u201cmet the primary endpoint of severity of illness\nimprovement versus placebo, along with improvements in key secondary endpoints\nrelating to clinical improvement, adaptive behaviours and socialisation.\u201d\n\nNeurotech has also received an FDA orphan drug designation for NTI164 in the\ntreatment of [ Rett Syndrome\n](https://api.investi.com.au/api/announcements/nti/c8adc5a6-169.pdf) , a rare\ngenetic neurological and developmental disorder.\n\nNeurotech entered into a [ new development agreement\n](https://api.investi.com.au/api/announcements/nti/38c9d4a8-d66.pdf) with\nEuropean medical cannabis company RH Pharma in February 2025. The aim of the\nagreement is bring to market pharmaceutical-grade broad spectrum cannabinoid\ndrug products for paediatric patients with neurodevelopmental disorders.\n\n### 6\\. [ ECS Botanics (ASX:ECS) ](https://investingnews.com/stocks/ecs-\nau/ecs-botanics-holdings/)\n\n[ Company Profile ](https://investingnews.com/stocks/ecs-au/ecs-botanics-\nholdings/)\n\n**Market cap:** AU$16.85 million \n**Share price:** AU$0.013\n\nVictoria-based ECS Botanics bills itself as Australia's largest business-to-\nbusiness medicinal cannabis cultivator and manufacturer. At its Australian\nTherapeutic Goods-licensed facilities, the company uses regenerative and\norganic agricultural practices and renewable energy sources to manufacture GMP\ncertified products.\n\nIn May 2024, ECS Botanics kicked off a [ one-year supply agreement\n](https://investingnews.com/ecs-botanics-earnings/) with Elite Medical\nSolutions with a guaranteed minimum annual order of AU$380,000 and automatic\nrenewal options. The agreement will see Elite Medical Solutions oversee retail\nsales of ECS\u2019s RAP Med brand, which is targeted at military veterans and\nincludes soft gel capsules and oral liquids.\n\nIn its report for its fiscal [ H1 2025\n](https://wcsecure.weblink.com.au/pdf/ECS/02919066.pdf) ended December 31,\n2024, the company highlights a 50 percent increase in cannabis yields, placing\nthe company on track for a record harvest for the 2025 calendar year.\n\n### 7\\. [ Cann Group (ASX:CAN) ](https://investingnews.com/stocks/can-\nau/cann-group/)\n\n[ Company Profile ](https://investingnews.com/stocks/can-au/cann-group/)\n\n**Market cap:** AU$13.65 million \n**Share price:** AU$0.026\n\nCann Group is a medical cannabis grower and manufacturer that sells its\nproducts within Australia as well as outside the country. The agricultural\ntechnology company places a strong emphasis on research, genetics and\nbreeding, creating high-quality products for the medical market.\n\nIn 2017, Cann Group was the first company to be granted a cannabis research\nlicence from Australia\u2019s Office of Drug Control. It marked another first when\nit received its medicinal cannabis cultivation licence from the entity the\nfollowing month.\n\nAt its [ Mildura facility in Victoria ](https://www.canngrouplimited.com/our-\nfacilities) , Cann Group produces its Satipharm CBD sleep capsules and\nmultiple medical marijuana products, included cannabis flower and cannabis\nresin, to patients for a range of conditions from multiple sclerosis to\nchronic pain. The company has the annual capacity to produce 12,500 kilograms\nof dry cannabis flower for international and domestic medical cannabis\nmarkets.\n\n### 8\\. [ Althea (ASX:AGH) ](https://investingnews.com/stocks/agh-au/althea-\ngroup-holdings/)\n\n[ Company Profile ](https://investingnews.com/stocks/agh-au/althea-group-\nholdings/)\n\n**Market cap:** AU$12 million \n**Share price:** AU$0.023\n\n__ Althea is an international producer, supplier and exporter of\npharmaceutical-grade medicinal marijuana. The company operates in legal\ncannabis markets across the world, including in North America, Europe and\nAustralia.\n\nAlthea received its [ licence to cultivate medical cannabis\n](https://www.newswire.ca/news-releases/aphrias-australian-based-partner-\nalthea-receives-medical-cannabis-license-for-cultivation-676934033.html) in\n2018. After it [ received approval ](https://themarketherald.com.au/althea-\ngroup-asxagh-approved-to-sell-cannabis-products-in-germany-2020-11-18/) to\nsell cannabis products in Germany in late 2020, Althea became Germany\u2019s first\ncommercial supplier of made-in-Australia medical cannabis products. The\ncompany's subsidiary Peak Processing Solutions is a leader in the manufacture,\nsales and distribution of legal recreational cannabis products in Canada.\n\nIn its [ fiscal year 2025 H1 report\n](https://wcsecure.weblink.com.au/pdf/AGH/02919509.pdf) , Althea reported a\nfinancial turnaround as it significantly reduced its losses from its fiscal\n2024, posting a net loss of AU$1.5 million for H1 2025 compared to its AU$9\nmillion adjusted loss in its H1 2024 and AU$5.3 million adjusted loss in its\nH2 2024. Another bright spot in the report was that Peak Processing Solutions\nrevenue totalled AU$8.2 million, a 57.9 percent increase over the first half\nof its fiscal 2024, driven by strong demand for THC beverages.\n\n### 9\\. [ Ecofibre (ASX:EOF) ](https://investingnews.com/stocks/eof-\nau/ecofibre-ltd/)\n\n[ Company Profile ](https://investingnews.com/stocks/eof-au/ecofibre-ltd/)\n\n**Market cap:** AU$9.11 million \n**Share price:** AU$0.022\n\nOperating in the US and Australia, advanced manufacturing and technology firm\nEcofibre is focused on the hemp industry. The company has three vertically\nintegrated businesses: sustainable polymers and natural materials, natural\nhealth care, and hemp seed genetics.\n\nVia one of the world\u2019s largest collections of hemp seed genetics, Ecofibre\nGenetics supplies seed genetics to the hemp fibre and grain industry in both\nthe US and Australia. EOF Bio, its majority owned US-based clinical-stage\nbiotechnology company, produces cannabinoid-based drugs with an initial focus\non women\u2019s health and endometriosis.\n\nThrough Ananda Health, a leading US manufacturer of cannabinoid-based health\nproducts for human and pet consumption, Ecofibre provides CBD products in\nAustralia and the US, targeting sleep disorders, pain and anxiety, as well as\nendometriosis and other gynecological conditions.\n\n### 10\\. [ Argent Biopharma (ASX:RGT) ](https://investingnews.com/stocks/rgt-\nau/argent-biopharma/)\n\n[ Company Profile ](https://investingnews.com/stocks/rgt-au/argent-biopharma/)\n\n**Market cap:** AU$7.41 million \n**Share price:** AU$0.13\n\n__ Biopharmaceutical company Argent Biopharma is developing drug therapies\nusing nanotechnology with a focus on the central nervous system and immunology\ntreatments. Its investigational medicinal products are being prescribed\nthrough early patient access programs in the UK, US, Europe and Australia.\n\nIts [ cornerstone products ](https://argentbiopharma.com/pipeline/) include\nCannEpil for refractory epilepsy and cerebral palsy and CimetrA for acute lung\ninjury and ARDS, both of which are now generating revenues. Its therapy\nCogniCann is currently in clinical trials for enhancing the quality of life of\npatients with dementia, including Alzheimer\u2019s disease.\n\n_This is an updated version of an article first published by the Investing\nNews Network in 2019._ \n\n_Don\u2019t forget to follow us[ @INN_Australia\n](https://twitter.com/INN_Australia) for real-time news updates! _\n\n**Securities Disclosure: I, Melissa Pistilli, hold no direct investment\ninterest in any company mentioned in this article.**\n\nKeep reading... Show less\n\n[ ](https://investingnews.com/top-cannabis-news/)\n\n[ Meagen Seatter ](https://investingnews.com/author/meagenseatter1/)\n\n06 March\n\n## [ Cannabis Round-Up: Rescheduling Faces New Roadblocks, SAFER Banking Act\nGets Another Look ](https://investingnews.com/top-cannabis-news/)\n\n###\n\n__\n\n**February 2025 was characterized by an evolving legislative landscape and\nimportant financial updates from major players.**\n\nThese developments underscore the complex and dynamic nature of the sector as\nit continues to navigate legal, financial, and regulatory challenges while\nexperiencing ongoing growth and evolution.\n\nDiscussions around cannabis rescheduling, changes in federal agency\nleadership, state-level legalization efforts, and financial reports from key\ncompanies all contributed to a month of notable activity in the cannabis\nspace.\n\n### Road to cannabis rescheduling hits another speed bump\n\nDiscussions around cannabis rescheduling continued in February, involving\nseveral key points. Since proceedings to reschedule cannabis stayed in January\nafter advocates raised concerns of potential bias within the Drug Enforcement\nAdministration (DEA), the path to rescheduling has become increasingly\nconvoluted.\n\nFirst, on February 7, DEA administrative law judge John J. Mulrooney [ granted\na withdrawal request\n](https://www.dea.gov/sites/default/files/2025-02/Marijuana%20Rescheduling_Order%20Re%20the%20Conneticut%20Office%20of%20the%20Cannabis%20Ombudsman%20and%20The%20Doc%20Apps%20Notice%20of%20Withdrawal.pdf)\nfrom Erin Gorman Kirk, who is Connecticut\u2019s Office of the Cannabis Ombudsman,\nand The Doc App, which is doing business as My Florida Green.\n\nOn why she requested the withdrawal, Kirk [ told Cannabis Business Times\n](https://www.cannabisbusinesstimes.com/cannabis-\nrescheduling/news/15737305/dea-judge-grants-requests-from-3-procannabis-\nrescheduling-participants-says-hearing-up-to-dea) : \u201cWith (Connecticut\u2019s)\nlegislative session underway, and the prospect of a long, drawn-out DEA\nRescheduling process, I felt our patients were better served by working with\nour esteemed legislators to improve the Connecticut Medical Cannabis Program\nand help our patients get back to the health they enjoyed before the adult-use\nmarketplace began.\n\n\u201cThis Office was created so we do not leave patients behind, and that\u2019s where\nI continue to focus my efforts. I remain engaged with the broader community of\npatient advocates working to de-stigmatize our medication and provide\nhealthier alternatives to wellness.\u201d\n\nJudge Mulrooney also [ granted a motion for relief\n](https://www.dea.gov/sites/default/files/2025-02/Marijuana%20Rescheduling_Order%20Regarding%20Designated%20Brown%27s%20Response%20to%20Motion%20for%20Leave%20%26%20Mot%20To%20Remove%20Counsel.pdf)\non February 11 for Ellen Brown, an appointee from the Massachusetts Cannabis\nAdvisory Board. Judge Mulrooney had ruled that Brown lacked sufficient\nstanding under the Administrative Procedure Act to proceed as a standalone\nparticipant and gave her until March 14 to consolidate with another designated\nparticipant.\n\nLater, on February 17, Doctors for Drug Policy Reform (D4DPR) [ filed a brief\n](https://www.cannabisbusinesstimes.com/cannabis-\nrescheduling/news/15737707/doctors-ask-us-appellate-court-for-redo-in-deas-\nselections-for-cannabis-rescheduling-participants) requesting new witness\nselection for the rescheduling hearings, citing the violation of bedrock\nadministrative law principles by the DEA\u2019s former administrator, Anne Milgram,\nwho limited the hearing to 25 participants and rejected D4DPR\u2019s request to\nparticipate.\n\nMeanwhile, US President Donald Trump\u2019s picks to lead key federal agencies pose\na new threat to a once-promising initiative. Chairman of the Office of\nManagement and Budget Russel Vought has a track record of opposition to\ncannabis reform, calling it a gateway drug in 2022 during an [ appearance on\nC-SPAN ](https://www.c-span.org/video/?c5036847/user-clip) .\n\nAlso, newly appointed Chairman of the Department of Health and Human Services\n(HHS) Robert F. Kennedy [ told Senate members\n](https://hempgazette.com/news/rfk-senate-marijuana-\nhg2399/#:~:text=Asked%20again%20on%20his%20views,the%20exercise%20of%20its%20authorities%E2%80%9D.)\nhe would refer to the DEA on the matter during his two-day confirmation\nhearing; however, he later [ expressed concern\n](https://www.ainvest.com/news/health-secretary-rfk-jr-calls-for-thorough-\nstudies-of-marijuana-25021010868a01e04cdabe10/) about high-potency strains of\ncannabis and said he wants to conduct further studies on its effects. He has\nalso [ moved to rescind public participation ](https://public-\ninspection.federalregister.gov/2025-03300.pdf) from HHS decision-making.\n\n### Pennsylvania governor proposes legal cannabis market in state budget\n\nPennsylvania Governor Josh Shapiro proposed legalizing recreational cannabis\nin his state as he [ presented his state budget\n](https://whyy.org/articles/pennsylvania-medical-marijuana-cannabis-josh-\nshapiro/#:~:text=Let%20us%20know!,again%2C%20proposed%20legalizing%20recreational%20marijuana.)\nto legislators on February 5. \u201cPennsylvanians who want to buy cannabis are\njust driving across the border to one of our neighbors,\u201d he said, adding that\na legal recreational market would add US$1.3 billion in tax revenue over five\nyears.\n\nRegulation would fall to the state Department of Agriculture and the\nDepartment of Health under the Governor\u2019s plan.\n\nMeanwhile, in New Hampshire, the state House of Representatives passed [ HB 75\n](https://gc.nh.gov/bill_status/legacy/bs2016/billText.aspx?sy=2025&id=93&txtFormat=html)\non February 21, which would legalize adult cannabis use and possession but\ndoes not include provisions to support taxation, regulation or a retail\nmarket. [ Market watchers ](https://newhampshirebulletin.com/2025/02/21/new-\nhampshire-house-passes-cannabis-legalization-but-enthusiasm-lags/) do not\nexpect the bill to pass through the state legislature, citing Governor Kelly\nAyotte\u2019s hardline on drug enforcement. During her campaign, she flatly said\nshe would not support cannabis reform in the state if elected.\n\n### Senate committee re-examines the SAFER Banking Act\n\nThe US Senate Committee on Banking, Housing and Urban Affairs held a hearing\non February 5 on debanking practices by regulators and banks. While the\nhearing was largely anticipated to center around the cryptocurrency industry,\nRanking Member Elizabeth Warren, D-Mass., noted that among the 11,955\ncomplaints received by the Consumer Financial Protection Bureau, some were\nrelated to debanking efforts against legal cannabis businesses.\n\nAaron Klein, a senior fellow in economics at the Brookings Institution who was\ncalled to testify, said a cannabis banking bill such as the SAFER Banking Act\nwould help but would require amendments to ease the burdensome and costly\nrequirements for filing Suspicious Activity Reports. \u201cI fear the bill\u2019s impact\nwould likely underwhelm what its proponents have argued,\u201d he wrote in a [\ntestimony\n](https://www.banking.senate.gov/imo/media/doc/klein_testimony_2-5-25.pdf) .\n\n### Aurora, Canopy Growth report earnings\n\nAurora Cannabis ( [ NASDAQ ](https://investingnews.com/nasdaq-composite-\nindex/) : [ ACB ](https://investingnews.com/stock-information/?symbol=acb) ,\nTSX:ACB) reported its [ financial results\n](https://www.auroramj.com/investors/quarterly-reports/) on February 5 for its\nfiscal Q3 2025 ended December 31, 2024. The company\u2019s net revenue for the\nperiod totaled C$88.2 million, an increase of 37 percent year-over-year. Net\nincome for the three months was C$31.34 million, a marked improvement from the\nC$18.1 million in losses recorded during the same period in 2023.\n\nThe next day, the company [ announced ](https://www.newswire.ca/news-\nreleases/aurora-cannabis-announces-supply-agreement-with-sndl-825091248.html)\na strategic supply agreement with SNDL (NASADQ: [ SNDL\n](https://investingnews.com/stock-information/?symbol=sndl) ), which would see\nSNDL provide Aurora with cannabis flower products from its indoor facility in\nAtholville, New Brunswick.\n\nCanopy Growth (NASDAQ: [ CGC ](https://investingnews.com/stock-\ninformation/?symbol=cgc) , TSX:WEED) reported its [ Q3 2025 results\n](https://www.canopygrowth.com/investors/news-releases/canopy-growth-reports-\nthird-quarter-fiscal-year-2025-financial-results/) on February 7, revealing a\n16 percent annual increase in net revenue for medical cannabis sales in Canada\nand 14 percent net revenue growth year-over-year in the international market.\n\nIts overall net revenue for the period was C$74.8 million. This was 5 percent\nlower compared to Q3 2024, which the company attributed to the divestiture of\nbusinesses before the quarter; excluding their revenue, net revenue was up 8\npercent year-over-year.\n\nWhile the company\u2019s net loss of C$121.9 million was a marked improvement\ncompared to a loss of C$216.8 million in the prior year, analysts expected\ngreater improvement. Shareholders sent the company\u2019s [ stock price down\n](https://finance.yahoo.com/quote/WEED.TO/history/) nearly 5 percent from\nC$3.04 to C$2.89 by the end of the day.\n\nAt the end of the month, on February 28, Canopy Growth established an [ at-\nthe-market-program ](https://www.canopygrowth.com/investors/news-\nreleases/canopy-growth-establishes-new-us200-million-at-the-market-program/)\nthat will allow it to issue and sell up to US$200 million in shares to raise\nadditional capital that may be used for strategic acquisitions or to reduce\ndebt, potentially including a US$100 million prepayment that would extend its\nloan maturity to September 2027.\n\n_Don\u2019t forget to follow us[ @INN_Cannabis ](https://twitter.com/inn_cannabis)\nfor real-time news updates! _ \n\n**Securities Disclosure: I, Meagen Seatter, hold no direct investment interest\nin any company mentioned in this article.**\n\nKeep reading... Show less\n\n[ Investing News Network ](https://investingnews.com/author/admin/)\n\n26 February\n\n## [ Trulieve Announces Launch of Onward: A Premium THC Beverage\n](https://investingnews.com/trulieve-announces-launch-of-onward-a-premium-thc-\nbeverage/)\n\n_Available now online and coming soon to select Total Wine locations in\nFlorida _\n\nTrulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) (\"Trulieve\" or \"the\nCompany\"), a leading and top-performing cannabis company in the U.S., today\nannounced the launch of Onward, a premium, non-alcoholic THC beverage offering\na modern alternative for social occasions. These Farm Bill compliant beverages\nare available now online and coming soon to select Total Wine locations in\nFlorida .\n\n[ ](https://mma.prnewswire.com/media/2628090/Onward_Box_Can_PHOTO.html)\n\n\"Drawing on our vast experience in cannabis product development, Onward\nbeverages powered by Trulieve are expertly crafted to align with evolving\nconsumer preferences,\" said Trulieve's Chief Executive Officer [ Kim Rivers\n](https://c212.net/c/link/?t=0&l=en&o=3583460-1&h=961184854&u=https%3A%2F%2Fkimrivers.co%2F&a=Kim+Rivers)\n. \"We are excited to introduce this innovative and federally compliant\nbeverage line to those seeking a new and alternative form of refreshment.\"\n\nOnward beverages come in a variety of delicious flavors including Blueberry\nMojito, Italian Spritz, Passionfruit Martini, Peach Bellini, and Sea Salt\nMargarita. These low-calorie, non-alcoholic cocktails are crafted in the USA\nusing naturally derived THC and CBD with no artificial flavors, colors, or\nsweeteners offering consumers a new and natural way to sip, socialize, and\nsavor the moment.\n\nAvailable for purchase by consumers 21 years and older, Onward can be ordered\nvia [ DrinkOnward.com ](http://www.drinkonward.com/) and shipped directly to\nconsumers in 36 states. Four packs of each flavor as well as a variety pack\nare coming soon for purchase at select Florida Total Wine stores in\nClearwater , Fort Lauderdale , Jacksonville , Miami , Orlando ,\nTallahassee , Tampa , and St. Petersburg .\n\nOnward beverages use a proprietary formulation and manufacturing process to\nprovide a consistent experience in every can. When it comes to transparency\nand quality, we strive to set best practices for the industry and adult\nconsumers. Lab testing for Onward beverages is conducted for each batch at\nfinal formulation and results can be found online at [ COA Testing\n](https://drinkonward.com/pages/lab-results-coa-testing) .\n\nFor more information, please visit [ Drinkonward.com/\n](https://drinkonward.com/) or follow us on Facebook, Instagram, and X at\n@DrinkOnward.\n\n**About Trulieve \n** Trulieve is an industry leading, vertically integrated cannabis company\nand multi-state operator in the U.S., with leading market positions in\nArizona , Florida , and Pennsylvania . Trulieve is poised for\naccelerated growth and expansion, building scale in retail and distribution in\nnew and existing markets through its hub strategy. By providing innovative,\nhigh-quality products across its brand portfolio, Trulieve delivers optimal\ncustomer experiences and increases access to cannabis, helping patients and\ncustomers to live without limits. Trulieve is listed on the CSE under the\nsymbol TRUL and trades on the OTCQX market under the symbol TCNNF . For\nmore information, please visit [ Trulieve.com ](https://www.trulieve.com/) .\n\nFacebook: [ @Trulieve ](https://www.facebook.com/Trulieve/) \nInstagram: [ @Trulieve_ ](https://www.instagram.com/trulieve_/?hl=en) \nX: [ @Trulieve\n](https://twitter.com/Trulieve?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor)\n\n**Investor Contact \n** Christine Hersey , Vice President of Investor Relations \n+1 (424) 202-0210 \n[ Christine.Hersey@Trulieve.com ](mailto:Christine.Hersey@Trulieve.com)\n\n**Media Contact** \nPhil Buck , APR, Corporate Communications Manager \n+1 (406) 370-6226 \n[ Philip.Buck@Trulieve.com ](mailto:Philip.Buck@Trulieve.com)\n\n[ ](https://mma.prnewswire.com/media/1720011/Trulieve_LogoV1.html)\n\nView original content to download multimedia: [\nhttps://www.prnewswire.com/news-releases/trulieve-announces-launch-of-onward-\na-premium-thc-beverage-302385626.html ](https://www.prnewswire.com/news-\nreleases/trulieve-announces-launch-of-onward-a-premium-thc-\nbeverage-302385626.html)\n\nSOURCE Trulieve Cannabis Corp.\n\nView original content to download multimedia: [\nhttp://www.newswire.ca/en/releases/archive/February2025/26/c5583.html\n](http://www.newswire.ca/en/releases/archive/February2025/26/c5583.html)\n\nNews Provided by Canada Newswire via QuoteMedia\n\nKeep reading... Show less\n\n[ Investing News Network ](https://investingnews.com/author/admin/)\n\n24 February\n\n## [ Cronos Group Inc. to Hold 2024 Fourth Quarter and Full-Year Earnings\nConference Call on February 27, 2025 ](https://investingnews.com/cronos-group-\ninc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-\nfebruary-27-2025/)\n\nCronos Group Inc. ( [ NASDAQ ](https://investingnews.com/nasdaq-composite-\nindex/) : CRON) ( [ TSX ](https://investingnews.com/sp-tsx-composite-index/) :\nCRON) (\"Cronos\" or the \"Company\") will hold its 2024 fourth-quarter and full-\nyear earnings conference call on Thursday, February 27, 2025 at 8:30 a.m. ET.\nCronos' senior management team will discuss the Company's financial results\nand will be available for questions from the investment community after\nprepared remarks.\n\nTo attend the conference call or webcast, participants should register online\nat [ https://ir.thecronosgroup.com/events-presentations\n](https://ir.thecronosgroup.com/events-presentations) . To avoid delays, we\nencourage participants to dial into the conference call fifteen minutes ahead\nof the scheduled start time. The webcast of the call will be archived for\nreplay on the Company's website.\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos' diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: [ thecronosgroup.com ](https://thecronosgroup.com/) .\n\n**Forward-looking Statements**\n\nThis press release may contain information that may constitute \"forward-\nlooking information\" or \"forward-looking statements\" within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \"Forward-looking Statements\"). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \"may\", \"will\", \"expect\", \"plan\",\n\"anticipate\", \"intend\", \"potential\", \"estimate\", \"believe\" or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about Cronos' intention to build an international\niconic brand portfolio and develop disruptive intellectual property. Forward-\nlooking Statements are necessarily based upon a number of estimates and\nassumptions that, while considered reasonable by management, are inherently\nsubject to significant business, economic and competitive risks, financial\nresults, results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company's Annual Report on Form\n10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q\nfor the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024,\neach of which have been filed on SEDAR+ and EDGAR and can be accessed at\nwww.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking\nStatement included in this press release is made as of the date of this press\nrelease and, except as required by law, Cronos disclaims any obligation to\nupdate or revise any Forward-looking Statement. Readers are cautioned not to\nput undue reliance on any Forward-looking Statement.\n\n**Cronos Contact** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\nNews Provided by GlobeNewswire via QuoteMedia\n\nKeep reading... Show less\n\n[ Investing News Network ](https://investingnews.com/author/admin/)\n\n20 February\n\n## [ Trulieve to Open Dispensary in Columbus, Ohio\n](https://investingnews.com/trulieve-to-open-dispensary-in-columbus-ohio/)\n\n_New Franklin County location will host grand opening celebration Friday,\nFebruary 21 st _\n\nTrulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) (\"Trulieve\" or \"the\nCompany\"), a leading and top-performing cannabis company in the U.S., today\nannounced the opening of a new dispensary in Columbus, Ohio .\n\n[ ](https://mma.prnewswire.com/media/2623910/Trulieve_Columbus_S_High.html)\n\nThe new Trulieve Columbus South High Street will host a grand opening\ncelebration Friday, February 21 , featuring specials and promotional\ngiveaways.\n\n\"We are excited to open our fifth dispensary in Ohio ,\" said Trulieve's\nChief Executive Officer [ Kim Rivers ](https://kimrivers.co/) . \"We are proud\nto serve downtown Columbus and German Village with Trulieve's high-quality,\naffordable products and elite customer experience.\"\n\nThe new dispensary, located at 601 South High Street, will be open 8 a.m. \u2013\n9 p.m. , seven days a week, offering walk-in and express pickup service.\nTrulieve also operates dispensaries at the following locations in Ohio :\n\n * 4370 Tonawanda Trail , Beavercreek \n * 2950 N. High Street, Columbus \n * 8295 Sancus Blvd, Westerville \n * 3674 Maple Avenue, Zanesville \n\nTrulieve dispensaries offer customers a wide assortment of cannabis products\nfeaturing popular brands and accessible form factors including capsules,\nedibles, flower, tinctures and topicals.\n\nFor more information on store activations and locations in Ohio , please\nvisit [ https://www.trulieve.com/dispensaries/ohio\n](https://www.trulieve.com/dispensaries/ohio) .\n\n**About Trulieve \n** Trulieve is an industry leading, vertically integrated cannabis company and\nmulti-state operator in the U.S., with leading market positions in Arizona ,\nFlorida , and Pennsylvania . Trulieve is poised for accelerated growth and\nexpansion, building scale in retail and distribution in new and existing\nmarkets through its hub strategy. By providing innovative, high-quality\nproducts across its brand portfolio, Trulieve delivers optimal customer\nexperiences and increases access to cannabis, helping patients and customers\nto live without limits. Trulieve is listed on the CSE under the symbol TRUL\nand trades on the OTCQX market under the symbol TCNNF. For more information,\nplease visit [ Trulieve.com ](https://www.trulieve.com/) .\n\nFacebook: [ @Trulieve ](https://www.facebook.com/Trulieve/) \nInstagram: [ @Trulieve_ ](https://www.instagram.com/trulieve_/?hl=en) \nX: [ @Trulieve\n](https://x.com/Trulieve?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor)\n\n**Investor Contact \n** Christine Hersey , Vice President of Investor Relations \n+1 (424) 202-0210 \n[ Christine.Hersey@Trulieve.com ](mailto:Christine.Hersey@Trulieve.com)\n\n**Media Contact** \nPhil Buck , APR, Corporate Communications Manager \n+1 (406) 370-6226 \n[ Philip.Buck@Trulieve.com ](mailto:Philip.Buck@Trulieve.com)\n\n[ ](https://mma.prnewswire.com/media/1720011/Trulieve_LogoV1.html)\n\nView original content to download multimedia: [\nhttps://www.prnewswire.com/news-releases/trulieve-to-open-dispensary-in-\ncolumbus-ohio-302380894.html ](https://www.prnewswire.com/news-\nreleases/trulieve-to-open-dispensary-in-columbus-ohio-302380894.html)\n\nSOURCE Trulieve Cannabis Corp.\n\nView original content to download multimedia: [\nhttp://www.newswire.ca/en/releases/archive/February2025/20/c7994.html\n](http://www.newswire.ca/en/releases/archive/February2025/20/c7994.html)\n\nNews Provided by Canada Newswire via QuoteMedia\n\nKeep reading... Show less\n\n[ Investing News Network ](https://investingnews.com/author/admin/)\n\n11 February\n\n## [ Trulieve to Open Medical Cannabis Dispensary in Middleburg, Florida\n](https://investingnews.com/trulieve-to-open-medical-cannabis-dispensary-in-\nmiddleburg-florida/)\n\n_New Clay County location will host grand opening celebration Friday,\nFebruary 14 th _\n\nTrulieve Cannabis Corp. (CSE: TRUL ) (OTCQX: TCNNF ) (\"Trulieve\" or \"the\nCompany\"), a leading and top-performing cannabis company in the U.S., today\nannounced the opening of a new medical cannabis dispensary in Middleburg,\nFlorida .\n\n[\n](https://mma.prnewswire.com/media/2617229/Trulieve_Middleburg_Exterior.html)\n\nA grand opening celebration will be held Friday, February 14 , beginning at\n9 a.m. , featuring music, specials, discounts, and opportunities to register\nfor upcoming patient education sessions.\n\n\"We are committed to providing value, delivering quality, and helping our\ncustomers enhance their lives through cannabis,\" said Trulieve's Chief\nExecutive Officer [ Kim Rivers\n](https://c212.net/c/link/?t=0&l=en&o=3583460-1&h=961184854&u=https%3A%2F%2Fkimrivers.co%2F&a=Kim+Rivers)\n. \"We are proud to expand access in Clay County and look forward to serving\npatients and caregivers at this new location.\"\n\nTrulieve Middleburg, located at 1539 Blanding Boulevard, will be open 9 a.m.\n\u2013 8:30 p.m. Monday through Saturday and 11 a.m. \u2013 8 p.m. on Sundays ,\noffering walk-in and express pickup service.\n\nThe new dispensary will carry a wide variety of popular products including\nTrulieve's portfolio of in-house brands such as Alchemy, Co2lors, Cultivar\nCollection, Modern Flower, Momenta, Muse, Roll One, Sweet Talk, and Trekkers.\nCustomers will also have access to beloved partner brands such as Alien Labs,\nBellamy Brothers , Binske, Black Tuna, Blue River , Connected Cannabis,\nDeLisioso, Khalifa Kush , Love's Oven, Miami Mango, O.pen, Seed Junky, and\nSunshine Cannabis, all available exclusively at Trulieve in Florida .\n\nAcross Florida , Trulieve offers home delivery, convenient online ordering,\nand in-store pickup. Veterans receive 20% off every order when they show their\nmilitary ID, and all first-time guests are eligible for a 60% new customer\ndiscount at any Florida Trulieve location. For more information, or to learn\nhow to become a registered patient, please visit [ Trulieve.com\n](https://www.trulieve.com/) and connect on [ Instagram\n](https://www.instagram.com/trulieve_/?hl=en) or [ Facebook\n](https://www.facebook.com/Trulieve/) .\n\n**About Trulieve \n** Trulieve is an industry leading, vertically integrated cannabis company and\nmulti-state operator in the U.S., with leading market positions in Arizona ,\nFlorida , and Pennsylvania . Trulieve is poised for accelerated growth and\nexpansion, building scale in retail and distribution in new and existing\nmarkets through its hub strategy. By providing innovative, high-quality\nproducts across its brand portfolio, Trulieve delivers optimal customer\nexperiences and increases access to cannabis, helping patients and customers\nto live without limits. Trulieve is listed on the CSE under the symbol TRUL\nand trades on the OTCQX market under the symbol TCNNF. For more information,\nplease visit [ Trulieve.com ](https://www.trulieve.com/) .\n\nFacebook: [ @Trulieve ](https://www.facebook.com/Trulieve/) \nInstagram: [ @Trulieve_ ](https://www.instagram.com/trulieve_/?hl=en) \nX: [ @Trulieve\n](https://twitter.com/Trulieve?ref_src=twsrc%5Egoogle%7Ctwcamp%5Eserp%7Ctwgr%5Eauthor)\n\n**Investor Contact \n** Christine Hersey , Vice President of Investor Relations \n+1 (424) 202-0210 \n[ Christine.Hersey@Trulieve.com ](mailto:Christine.Hersey@Trulieve.com)\n\n**Media Contact** \nPhil Buck , APR, Corporate Communications Manager \n+1 (406) 370-6226 \n[ Philip.Buck@Trulieve.com ](mailto:Philip.Buck@Trulieve.com)\n\n[ ](https://mma.prnewswire.com/media/1720011/Trulieve_LogoV1.html)\n\nView original content to download multimedia: [\nhttps://www.prnewswire.com/news-releases/trulieve-to-open-medical-cannabis-\ndispensary-in-middleburg-florida-302372942.html\n](https://www.prnewswire.com/news-releases/trulieve-to-open-medical-cannabis-\ndispensary-in-middleburg-florida-302372942.html)\n\nSOURCE Trulieve Cannabis Corp.\n\nView original content to download multimedia: [\nhttp://www.newswire.ca/en/releases/archive/February2025/11/c7265.html\n](http://www.newswire.ca/en/releases/archive/February2025/11/c7265.html)\n\nNews Provided by Canada Newswire via QuoteMedia\n\nKeep reading... Show less\n\n#### Latest News\n\n[ More News ](/world/press-releases/?newssections=market-news)\n\n#### Latest Press Releases\n\n## [ Quarterly Activities/Appendix 5B Cash Flow Report\n](https://investingnews.com/metals-australia-quarterly-activities-\nappendix-5b-cash-flow-report/)\n\n6h\n\n## [ Trading Halt ](https://investingnews.com/tempest-minerals-trading-halt/)\n\n7h\n\n## [ Permits Approved for Drilling at Pearl Copper Project, AZ US\n](https://investingnews.com/permits-approved-for-drilling-at-pearl-copper-\nproject-az-us/)\n\n7h\n\n## [ Quarterly Activities/Appendix 5B Cash Flow Report\n](https://investingnews.com/mount-hope-quarterly-activities-appendix-5b-cash-\nflow-report/)\n\n8h\n\n#### Related News\n\n[ ](https://investingnews.com/metals-australia-quarterly-activities-\nappendix-5b-cash-flow-report/)\n\n[ Lithium Investing ](https://investingnews.com/tag/lithium-investing)\n\n## [ Quarterly Activities/Appendix 5B Cash Flow Report\n](https://investingnews.com/metals-australia-quarterly-activities-\nappendix-5b-cash-flow-report/)\n\n6h\n\n[ ](https://investingnews.com/tempest-minerals-trading-halt/)\n\n[ Gold Investing ](https://investingnews.com/tag/gold-investing)\n\n## [ Trading Halt ](https://investingnews.com/tempest-minerals-trading-halt/)\n\n7h\n\n[ ](https://investingnews.com/permits-approved-for-drilling-at-pearl-copper-\nproject-az-us/)\n\n[ Nickel Investing ](https://investingnews.com/tag/nickel-investing)\n\n## [ Permits Approved for Drilling at Pearl Copper Project, AZ US\n](https://investingnews.com/permits-approved-for-drilling-at-pearl-copper-\nproject-az-us/)\n\n7h\n\n[ ](https://investingnews.com/mount-hope-quarterly-activities-\nappendix-5b-cash-flow-report/)\n\n[ Gold Investing ](https://investingnews.com/tag/gold-investing)\n\n## [ Quarterly Activities/Appendix 5B Cash Flow Report\n](https://investingnews.com/mount-hope-quarterly-activities-appendix-5b-cash-\nflow-report/)\n\n8h\n\n[ ](https://investingnews.com/metal-hawk-quarterly-activities-\nappendix-5b-cash-flow-report-march-2025/)\n\n[ Gold Investing ](https://investingnews.com/tag/gold-investing)\n\n## [ Quarterly Activities/Appendix 5B Cash Flow Report\n](https://investingnews.com/metal-hawk-quarterly-activities-appendix-5b-cash-\nflow-report-march-2025/)\n\n8h\n\n[ ](https://investingnews.com/oil-gas-forecast/)\n\n[ Oil and Gas Investing ](https://investingnews.com/tag/oil-and-gas-investing)\n\n## [ Oil and Gas Price Update: Q1 2025 in Review\n](https://investingnews.com/oil-gas-forecast/)\n\n10h\n\n[ ](https://investingnews.com/next-us-copper-mine/)\n\n[ Copper Investing ](https://investingnews.com/tag/copper-investing)\n\n## [ What's the Next US Copper Mine? 27 Copper Projects to Watch\n](https://investingnews.com/next-us-copper-mine/)\n\n10h\n\n#### TOP STOCKS\n\nAmerican Battery 4.03 __ 0.24\n\nAion Therapeutic 0.10 __ -0.01\n\nCybin Corp 2.14 0.00\n\nInvesting News Network websites or approved third-party tools use cookies.\nPlease refer to the [ cookie policy ](https://www.iubenda.com/privacy-\npolicy/8095067/cookie-policy?an=no&s_ck=false&newmarkup=yes) for collected\ndata, privacy and GDPR compliance. By continuing to browse the site, you agree\nto our use of cookies.\n\n\u00d7\n\n\u00d7\n\n",
"url": "https://investingnews.com/trulieve-cannabis-corp-to-hold-fourth-quarter-and-full-year-2024-results-conference-call-on-february-27-2025/"
},
"reason": "This page mentions Trulieve Cannabis Corp, not The Cronos Group. Therefore, it is not relevant to the query.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Trulieve Cannabis Corp. to hold fourth-quarter and full-year 2024 results conference call on February 27, 2025.",
"url": "https://investingnews.com/trulieve-cannabis-corp-to-hold-fourth-quarter-and-full-year-2024-results-conference-call-on-february-27-2025/"
},
{
"content": {
"metadata": {
"ext_id": "b1eacf1b-2bd3-4e57-9786-8c16a849e8ed",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.investing.com/news/company-news/cronos-group-names-new-cfo-in-strategic-shift-93CH-3936517"
},
"page_content": "Enable JavaScript and cookies to continue\n\n",
"url": "https://www.investing.com/news/company-news/cronos-group-names-new-cfo-in-strategic-shift-93CH-3936517"
},
"reason": "Investing.com is a well-known financial news platform. The article explicitly mentions Cronos Group and the appointment of a new CFO, providing a reliable overview of the event.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group names new CFO in strategic shift, according to Investing.com.",
"url": "https://www.investing.com/news/company-news/cronos-group-names-new-cfo-in-strategic-shift-93CH-3936517"
},
{
"content": {
"metadata": {
"ext_id": "80e598e3-bd8e-4fd8-8a48-3fbbef2ab520",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\nTORONTO and BOSTON , June 21, 2022 /PRNewswire/ -- _[ Cronos Group\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3225416693&u=https%3A%2F%2Fthecronosgroup.com%2F&a=Cronos+Group)\n_ Inc. (NASDAQ: CRON ) (TSX: CRON) (\"Cronos\"), an innovative global\ncannabinoid company, and _[ Ginkgo Bioworks\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2768808416&u=https%3A%2F%2Fwww.ginkgobioworks.com%2F&a=Ginkgo+Bioworks)\n_ (NYSE: DNA ) (\"Ginkgo\"), the leading horizontal platform for cell\nprogramming, today announced the achievement of the third target productivity\nmilestone in their partnership to produce eight cultured cannabinoids. Using\nGinkgo's platform for organism design and development, Cronos has successfully\nachieved the productivity target for tetrahydrocannabivarin (THCV), a\ncannabinoid hypothesized to reduce the appetite-enhancing property of THC.\nAccess to additional rare cannabinoids will support Cronos' innovation\npipeline and commercialization strategy.\n\nLaunched in 2018 with the goal of accessing rare molecules in the cannabis\nplant to create innovative and differentiated products that would otherwise be\ncost-prohibitive, the partnership between Cronos and Ginkgo aims to produce\ncultured cannabinoids at industrial scale. _[ The program\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3611081941&u=https%3A%2F%2Fwww.ginkgobioworks.com%2Four-\nwork%2Fproducing-cultured-cannabinoids%2F&a=The+program) _ combines Cronos'\ndeep understanding of the biological structure and function of cannabinoids\nwith Ginkgo's vast experience designing microorganisms for the production of\ncultured products across pharmaceuticals, agriculture and more.\n\nIn August 2021 , Ginkgo and Cronos _[ announced\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3645716409&u=https%3A%2F%2Finvestors.ginkgobioworks.com%2Fnews%2Fnews-\ndetails%2F2021%2FCronos-Group-and-Ginkgo-Bioworks-Announce-Achievement-of-\nEquity-Milestone-in-Partnership-to-Produce-Cultured-\nCannabinoids%2Fdefault.aspx&a=announced) _ the achievement of its first equity\nmilestone for cannabigerolic acid (CBGA). In October 2021 , Cronos _[\nlaunched\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=615659090&u=https%3A%2F%2Fir.thecronosgroup.com%2Fnews-\nreleases%2Fnews-release-details%2Fcronos-group-launches-its-first-cultured-\ncannabinoid-product&a=launched) _ its first cultured CBG product, SPINACH\nFEELZ\u2122 _[ Chill Bliss 2:1 THC|CBG gummy\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3626722007&u=https%3A%2F%2Fspinachcannabis.com%2Fforms%2Fedibles%2Fchill-\nbliss-gummy%2F&a=Chill+Bliss+2%3A1+THC%7CCBG+gummy) _ , which quickly gained\nconsumer awareness, and according to Hifyre data has achieved 2.4% market\nshare in the gummies category in Canada as of the week-ended June 11, 2022\n. Cronos went on to launch its SPINACH FEELZ\u2122 _[ Chill Bliss 7:1 THC|CBG vape\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2118616123&u=https%3A%2F%2Fspinachcannabis.com%2Fforms%2Fchill-\nbliss-vape%2F&a=Chill+Bliss+7%3A1+THC%7CCBG+vape) _ in January 2022 .\n\n\"Continuing to hit these productivity milestones in partnership with Ginkgo\nfuels our innovation pipeline focused on creating borderless products\nutilizing rare cannabinoids that amplify and differentiate the consumer\nexperience,\" said Mike Gorenstein , Chairman, President and CEO of Cronos.\n\"We are excited about the possibilities that THCV is expected to give us and\nlook forward to getting more products with rare cannabinoids into market.\"\n\n\"Working with Cronos to develop innovations in cannabis is an opportunity for\nus to apply synthetic biology in a way that is helping bring the cannabis\nindustry forward and make a real impact on its market and the customers it\nserves,\" said Jason Kelly, CEO and cofounder of Ginkgo Bioworks. \"The progress\nwe've made thus far in our collaboration is a true testament to both the\npotential of synthetic biology and the world-class teams at Cronos and\nGinkgo.\"\n\nAs a result of the achievement of the final productivity target for THCV,\nCronos has issued to Ginkgo approximately 2.2 million common shares.\n\n**About Cronos \n** Cronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae , Lord\nJones \u00ae , Happy Dance \u00ae and PEACE+\u2122. For more information about Cronos and\nits brands, please visit: _[ thecronosgroup.com\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3335548803&u=https%3A%2F%2Fthecronosgroup.com%2F&a=thecronosgroup.com)\n_ .\n\n**CRONOS MEDIA CONTACT:** \n_[ [email protected] ](/cdn-cgi/l/email-\nprotection#5e333b3a373f702c3b323f2a3731302d1e2a363b3d2c3130312d392c312b2e703d3133)\n_\n\n**CRONOS INVESTOR CONTACT:** \n_[ [email protected] ](/cdn-cgi/l/email-\nprotection#30595e465543445f421e42555c5144595f5e437044585553425f5e5f4357425f45401e535f5d)\n_\n\n**About Ginkgo Bioworks \n** Ginkgo is building a platform to enable customers to program cells as\neasily as we can program computers. The company's platform is enabling\nbiotechnology applications across diverse markets, from food and agriculture\nto industrial chemicals to pharmaceuticals. Ginkgo has also actively supported\na number of COVID-19 response efforts, including K-12 pooled testing, vaccine\nmanufacturing optimization and therapeutics discovery. For more information,\nvisit _[ www.ginkgobioworks.com\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2356245785&u=http%3A%2F%2Fwww.ginkgobioworks.com%2F&a=www.ginkgobioworks.com)\n_ .\n\n**GINKGO BIOWORKS INVESTOR CONTACT: \n** [ [email protected] ](/cdn-cgi/l/email-\nprotection#0f6661796a7c7b607d7c4f6866616468606d666078607d647c216c6062)\n\n**GINKGO BIOWORKS MEDIA CONTACT: \n** [ [email protected] ](/cdn-cgi/l/email-\nprotection#77070512040437101e191c1018151e180018051c045914181a)\n\n**Forward-looking Statements of Cronos Group Inc. \n** This press release may contain information that may constitute \"forward-\nlooking information\" or \"forward-looking statements\" within the meaning of\napplicable Canadian and U.S. securities laws (collectively, \"Forward-looking\nStatements\"). All information contained herein that is not clearly historical\nin nature may constitute Forward-looking Statements. In some cases, Forward-\nlooking Statements can be identified by the use of forward-looking terminology\nsuch as \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify Forward-looking Statements. Forward-Looking\nStatements include estimates, plans, expectations, opinions, forecasts,\nprojections, targets, guidance or other statements that are not statements of\nhistorical fact. Forward-Looking Statements include, but are not limited to,\nstatements with respect to: Cronos' expectations regarding the potential\nsuccess of, and the costs and benefits associated with, its partnership with\nGinkgo; expectations about the development of the cannabis industry and\npotential demand for cultured cannabinoids; Cronos' commercialization and\nplanned THCV product launch; the partnership's aim to develop eight cultured\ncannabinoids; Cronos' and Ginkgo's positioning to elevate the cannabis\nindustry through cannabinoid and product innovation to unlock the next\ngeneration of its potential; the use of Cronos' and Ginkgo's combined\ncapabilities to make the benefits of cannabinoids more accessible to\nconsumers; and Cronos' intention to build an international iconic brand\nportfolio and develop disruptive intellectual property. Forward-looking\nStatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management, are inherently subject to\nsignificant business, economic and competitive risks, financial results,\nresults, performance or achievements expressed or implied by those Forward-\nlooking Statements and the Forward-looking Statements are not guarantees of\nfuture performance. A discussion of some of the material risks applicable to\nthe Company can be found in the Cronos' Annual Report on Form 10-K for the\nyear ended December 31, 2021 and Quarterly Report on Form 10-Q for the\nperiod ended March 31, 2022 , both have which been filed on SEDAR and EDGAR\nand can be accessed at [ www.sedar.com ](http://www.sedar.com) and [\nwww.sec.gov/edgar ](http://www.sec.gov/edgar) , respectively. Any Forward-\nlooking Statement included in this press release is made as of the date of\nthis press release and, except as required by law, Cronos disclaims any\nobligation to update or revise any Forward-looking Statement. Readers are\ncautioned not to put undue reliance on any Forward-looking Statement.\n\n**Forward-Looking Statements of Ginkgo Bioworks \n** This press release contains certain forward-looking statements within the\nmeaning of the federal securities laws, including statements regarding the\npotential success of the partnership and Ginkgo's cell programming platform.\nThese forward-looking statements generally are identified by the words\n\"believe,\" \"can,\" \"project,\" \"potential,\" \"expect,\" \"anticipate,\" \"estimate,\"\n\"intend,\" \"strategy,\" \"future,\" \"opportunity,\" \"plan,\" \"may,\" \"should,\"\n\"will,\" \"would,\" \"will be,\" \"will continue,\" \"will likely result,\" and similar\nexpressions. Forward-looking statements are predictions, projections and other\nstatements about future events that are based on current expectations and\nassumptions and, as a result, are subject to risks and uncertainties. Many\nfactors could cause actual future events to differ materially from the\nforward-looking statements in this press release, including but not limited\nto: (i) the effect of Ginkgo's business combination with Soaring Eagle\nAcquisition Corp. (\"Soaring Eagle\") on Ginkgo's business relationships,\nperformance, and business generally, (ii) risks that the business combination\ndisrupts current plans of Ginkgo and potential difficulties in Ginkgo's\nemployee retention, (iii) the outcome of any legal proceedings that may be\ninstituted against Ginkgo related to its business combination with Soaring\nEagle, (iv) volatility in the price of Ginkgo's securities now that it is a\npublic company due to a variety of factors, including changes in the\ncompetitive and highly regulated industries in which Ginkgo operates and plans\nto operate, variations in performance across competitors, changes in laws and\nregulations affecting Ginkgo's business and changes in the combined capital\nstructure, (v) the ability to implement business plans, forecasts, and other\nexpectations after the completion of the business combination, and identify\nand realize additional opportunities, (vi) the risk of downturns in demand for\nproducts using synthetic biology, (vii) the unpredictability of the duration\nof the COVID-19 pandemic and the demand for COVID-19 testing and the\ncommercial viability of our COVID-19 testing business, and (viii) changes to\nthe biosecurity industry, including due to advancements in technology,\nemerging competition and evolution in industry demands, standards and\nregulations. The foregoing list of factors is not exhaustive. You should\ncarefully consider the foregoing factors and the other risks and uncertainties\ndescribed in the \"Risk Factors\" section of Ginkgo's quarterly report on Form\n10-Q filed with the U.S. Securities and Exchange Commission (the \"SEC\") on\nMay 16, 2022 and other documents filed by Ginkgo from time to time with the\nSEC. These filings identify and address other important risks and\nuncertainties that could cause actual events and results to differ materially\nfrom those contained in the forward-looking statements. Forward-looking\nstatements speak only as of the date they are made. Readers are cautioned not\nto put undue reliance on forward-looking statements, and Ginkgo assumes no\nobligation and does not intend to update or revise these forward-looking\nstatements, whether as a result of new information, future events, or\notherwise. Ginkgo does not give any assurance that it will achieve its\nexpectations.\n\nSOURCE Ginkgo Bioworks\n\n## WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?\n\n440k+ \nNewsrooms & \nInfluencers\n\n9k+ \nDigital Media \nOutlets\n\n270k+ \nJournalists \nOpted In\n\n[ GET STARTED ](https://www.prnewswire.com/account/online-membership-\nform/?site_refer=press-release-widget)\n\n### Modal title\n\n## Also from this source\n\n[ ](ginko-automation-partners-with-aura-genetics-to-accelerate-direct-to-\nconsumer-testing-and-innovation-302433812.html)\n\n### [ Ginkgo Automation Partners with Aura Genetics to Accelerate Direct-to-\nConsumer Testing and Innovation Ginkgo Bioworks (NYSE: DNA), which is\nbuilding the leading platform for cell programming and biosecurity, today\nannounced that Ginkgo Automation will ... ](ginko-automation-partners-with-\naura-genetics-to-accelerate-direct-to-consumer-testing-and-\ninnovation-302433812.html)\n\n[ ](ginkgo-bioworks-teams-up-with-partners-on-arpa-h-project-to-stabilize-\npharmaceutical-supply-chains--using-amber-waves-of-grain-302424938.html)\n\n### [ Ginkgo Bioworks Teams Up with Partners on ARPA-H Project to Stabilize\nPharmaceutical Supply Chains - Using Amber Waves of Grain Ginkgo Bioworks\n(NYSE: DNA), which is building the leading platform for cell programming and\nbiosecurity, today announced a new contract with the... ](ginkgo-bioworks-\nteams-up-with-partners-on-arpa-h-project-to-stabilize-pharmaceutical-supply-\nchains--using-amber-waves-of-grain-302424938.html)\n\n[ More Releases From This Source ](/news/ginkgo-bioworks/)\n\n## Explore\n\n[ [ Cannabis ](/news-releases/consumer-products-retail-latest-news/cannabis-\nlist/) ](/news-releases/consumer-products-retail-latest-news/cannabis-list/)\n\n[ [ Retail ](/news-releases/consumer-products-retail-latest-news/retail-list/)\n](/news-releases/consumer-products-retail-latest-news/retail-list/)\n\n[ [ New Products & Services ](/news-releases/general-business-latest-news/new-\nproducts-services-list/) ](/news-releases/general-business-latest-news/new-\nproducts-services-list/)\n\n[ News Releases in Similar Topics ](/news-releases/)\n\n## Contact PR Newswire\n\n * [ Call PR Newswire at 888-776-0942 ](tel:Call%20PR%20Newswire%20at%20888-776-0942) from 8 AM - 9 PM ET \n\n * [ Chat with an Expert ](javascript://Chat)\n\n * [ General Inquiries ](/contact-us/general-inquiries/ \"General Inquiries\")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \"Editorial Bureaus\")\n * [ Partnerships ](/contact-us/partnerships/ \"Partnerships\")\n * [ Media Inquiries ](/contact-us/media-inquiries/ \"Media Inquiries\")\n * [ Worldwide Offices ](/contact-us/worldwide-offices/ \"Worldwide Offices\")\n\n[ ](https://twitter.com/PRNewswire \"Twitter\") [ ](https://www.facebook.com/PR-\nNewswire-26247320522/ \"Facebook\") [ ](https://www.linkedin.com/company/pr-\nnewswire/ \"LinkedIn\")\n\n## Products\n\n * [ For Marketers ](/products/marketing/ \"For Marketers\")\n * [ For Public Relations ](/products/public-relations/ \"For Public Relations\")\n * [ For IR & Compliance ](/products/ir-compliance/ \"For IR & Compliance\")\n * [ For Agency ](/products/agency/ \"For Agency\")\n * [ All Products ](/products/all-products/ \"All Products\")\n\n## About\n\n * [ About PR Newswire ](/about-pr-newswire/ \"About PR Newswire\")\n * [ About Cision ](https://www.cision.com/us/?utm_medium=website&utm_source=prnewswire&utm_content=cishomepage&utm_campaign=prnewswire \"About Cision\")\n * [ Become a Publishing Partner ](/contact-us/prnewswire-partners/ \"Become a Publishing Partner\")\n * [ Become a Channel Partner ](/contact-us/become-a-partner/ \"Become a Channel Partner\")\n * [ Careers ](https://www.cision.com/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/ \"Canada\")\n * [ Czech ](/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](/fr/communiques-de-presse/ \"France\")\n * [ Germany ](/de/pressemitteilungen/ \"Germany\")\n * [ India ](/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](/il/news-releases/ \"Israel\")\n * [ Italy ](/it/comunicati-stampa/ \"Italy\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](/nl/persberichten/ \"Netherlands\")\n * [ Norway ](/no/pressemeldinger/ \"Norway\")\n * [ Poland ](/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](/ru/press-releases/ \"Russia\")\n * [ Slovakia ](/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](/sv/pressmeddelanden/ \"Sweden\")\n * [ United Kingdom ](https://www.prnewswire.co.uk/ \"United Kingdom\")\n * [ Vietnam ](/vn/home/ \"Vietnam\")\n\n## My Services\n\n * [ All New Releases ](/news-releases/ \"All New Releases\")\n * [ Online Member Center ](https://portal.prnewswire.com/Login.aspx \"Online Member Center\")\n * [ ProfNet ](https://profnet.prnewswire.com/ProfNetHome/What-is-Profnet.aspx \"ProfNet\")\n * [ Data Privacy ](https://gdpr.cision.com/ \"Data Privacy\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact PR Newswire ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](https://prnewswire.mediaroom.com/index.php)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Center ](https://portal.prnewswire.com/Login.aspx \"Online Member Center\")\n * [ ProfNet ](https://profnet.prnewswire.com/ProfNetHome/What-is-Profnet.aspx \"ProfNet\")\n\n[ __ Call PR Newswire at \n888-776-0942 ](tel:Call%20PR%20Newswire%20at \"Contact Us\")\n\n * [ Terms of Use ](/terms-of-use/ \"Terms of Use\")\n * [ Privacy Policy ](https://www.cision.com/legal/privacy-policy/ \"Privacy Policy\")\n * [ Information Security Policy ](/prn-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ RSS ](/rss/ \"RSS\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n\nCopyright \u00a9 2025 [ Cision\n](https://www.cision.com/us/?utm_medium=website&utm_source=prnewswire&utm_content=cishomepage&utm_campaign=prnewswire\n\"Cision\") US Inc.\n\n[ ](javascript://Chat)\n\n",
"url": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
"reason": "This is a press release from a reputable source (PR Newswire) announcing a milestone achievement by Cronos Group and Ginkgo Bioworks. The information is likely accurate but may present a slightly positive view.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group and Ginkgo Bioworks announce the achievement of a THCV equity milestone.",
"url": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
{
"content": {
"metadata": {
"ext_id": "588cc0ff-52c5-49da-ad01-e1c7c3a518c6",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.annualreports.com/Company/cronos-group"
},
"page_content": "# Cronos Group\n\n * Ticker CRON \n\nExchange NASDAQ [ More ](/Companies?exch=2)\n\n * Industry Drug Manufacturers - Other [ More ](/Companies?ind=88)\n * Sector Healthcare [ More ](/Companies?sect=5)\n\n * 201-500 Employees \n * Based in Toronto, Ontario \n\nCronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across four continents. The Company operates two\nwholly-owned Canadian Licensed Producers regulated under Health Canada\u00e2\u0080\u0099s\nAccess to Cannabis for Medical Purposes Regulations: Peace Naturals Project\nInc. (Ontario), which was the first non-incumbent medical cannabis license\ngranted by Health \u2026 [ More ]() Canada, and Original BC Ltd. (British\nColumbia), which is based in the Okanagan Valley. The Company has multiple\ninternational production and distribution platforms: Cronos Israel and Cronos\nAustralia. Through an exclusive distribution agreement, Cronos also has access\nto over 12,000 pharmacies in Germany as the Company focuses on building an\ninternational iconic brand portfolio and developing disruptive intellectual\nproperty.\n\n[ Visit website ](https://thecronosgroup.com/)\n\nREPORT RATINGS\n\n4.8 / 5.0 (177)\n\n___ _ ___ _ ___ _ ___ _ ___ _\n\nCronos Group reports have an aggregate usefulness score of 4.8 based on 177\nreviews.\n\nCronos Group\n\n## Most Recent Annual Report\n\nMOST RECENT 2023 Annual Report and Form 10K\n\n[ View PDF ](/Click/25700) [ View Form 10K (HTML) ](/Click/30214)\n\nCronos Group does not currently have any hardcopy reports on\nAnnualReports.com. Click the button below to request a report when hardcopies\nbecome available.\n\nShipping Information\n\nPlease fill out the form below and click \"Place Order\" to complete your order.\n\n[ Request Information ]()\n\n## Older/Archived Annual Reports\n\n * 2022 Annual Report [ View Annual Report ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2022.pdf \"View 2022 Annual Report \\(PDF\\)\") [ Download ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2022.pdf)\n\n * 2021 Annual Report [ View Annual Report ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2021.pdf \"View 2021 Annual Report \\(PDF\\)\") [ Download ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2021.pdf)\n\n * 2020 Annual Report [ View Annual Report ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2020.pdf \"View 2020 Annual Report \\(PDF\\)\") [ Download ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2020.pdf)\n\n * 2019 Annual Report [ View Annual Report ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2019.pdf \"View 2019 Annual Report \\(PDF\\)\") [ Download ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2019.pdf)\n\n * 2018 Annual Report [ View Annual Report ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2018.pdf \"View 2018 Annual Report \\(PDF\\)\") [ Download ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2018.pdf)\n\n * 2017 Annual Report [ View Annual Report ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2017.pdf \"View 2017 Annual Report \\(PDF\\)\") [ Download ](/HostedData/AnnualReportArchive/c/NASDAQ_CRON_2017.pdf)\n\nShow 3 older reports\n\n[ x ]( \"Close\")\n\n##\n\n## Rate This Report\n\nYour vote helps our reports be more useful\n\n__ Rating Saved!\n\nThank you for your feedback!\n\n\u00a92003-2025 [ AnnualReports.com ](/)\n\n * [ Home ](/)\n * [ About ](/About)\n * [ Contact ](/Contact)\n * [ FAQs ](/FAQ)\n * [ Legal ](/Disclaimer)\n * [ Visit IR Solutions ](https://www.irsolutions.com)\n * [ Add My Company ](/AddCompany)\n\n",
"url": "https://www.annualreports.com/Company/cronos-group"
},
"reason": "This site provides access to annual reports, which are primary sources of information. However, the reliability depends on the completeness and accuracy of the reports themselves.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Provides access to annual reports for Cronos Group.",
"url": "https://www.annualreports.com/Company/cronos-group"
},
{
"content": {
"metadata": {
"ext_id": "539e4d18-7f43-4c49-a033-f04984f2054f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nFebruary 27, 2025 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of the Peace Naturals Campus; \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n* * *\n\n## Tags\n\n[ Cannabis ](/en/search/tag/cannabis \"Cannabis\") [ CRON ](/en/search/tag/cron\n\"CRON\") [ Cronos ](/en/search/tag/cronos \"Cronos\") [ Cronos Group\n](/en/search/tag/cronos%2520group \"Cronos Group\")\n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release distributed via GlobeNewswire, directly reporting Cronos Group's financial results. It's a primary source for financial information, making it highly reliable for that specific data.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group reports its 2024 fourth-quarter and full-year results.",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "c0d0e11b-65f0-4fc2-ba55-cae2b2739c9d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://markets.businessinsider.com/news/stocks/cronos-group-price-target-lowered-to-1-65-from-2-at-bofa-1034561923"
},
"page_content": " * [ Home ](/)\n * [ Stocks ](/stocks)\n * [ Cronos-stock ](/stocks/cron-stock)\n * [ News for Cronos ](/news/cron)\n * [ Cronos Group price target lowered to $1.65 from $2 at BofA ](/news/stocks/cronos-group-price-target-lowered-to-1-65-from-2-at-bofa-1034561923)\n\n# Cronos Group price target lowered to $1.65 from $2 at BofA\n\nTipRanks\n\nApr. 8, 2025, 07:15 AM\n\n \n \n \n \n \n \n \n\nBofA lowered the firm\u2019s [ price target\n](https://www.tipranks.com/stocks/cron/forecast?utm_source=markets.businessinsider.com&utm_medium=referral)\non Cronos Group ( [ CRON\n](https://www.tipranks.com/stocks/cron?utm_source=markets.businessinsider.com&utm_medium=referral)\n) to $1.65 from $2 and keeps an Underperform rating on the shares. On April 3,\nthe White House laid out its Drug Policy priorities for the first year of\nPresident Trump\u2019s term and cannabis rescheduling that was started under\nPresident Biden was not part of the list, the analyst noted. The firm believes\nCronos\u2019 valuation will remain pressured given \u201ccontinued unfavorable industry\nnews and market conditions,\u201d the analyst added.\n\n### Stay Ahead of the Market:\n\n * Discover outperforming stocks and invest smarter with [ Top Smart Score Stocks. ](https://www.tipranks.com/screener/top-smart-score-stocks/?llf=rss&utm_source=markets.businessinsider.com&utm_medium=referral)\n * Filter, analyze, and streamline your search for investment opportunities using [ Tipranks' Stock Screener. ](https://www.tipranks.com/screener/stocks/?llf=rss&utm_source=markets.businessinsider.com&utm_medium=referral)\n\n_Published first on [ TheFly\n](https://thefly.com/?utm_source=markets.businessinsider.com&utm_medium=referral)\n\u2013 the ultimate source for real-time, market-moving breaking financial news. [\nTry Now>>\n](https://thefly.com/?utm_source=markets.businessinsider.com&utm_medium=referral)\n_\n\n[ **See Insiders\u2019 Hot Stocks on TipRanks >> **\n](https://www.tipranks.com/screener/top-insider-trading-\nstocks/?type=stockAnalysisLanding&utm_source=markets.businessinsider.com&utm_medium=referral)\n\n**Read More on CRON:**\n\n[ Disclaimer & Disclosure ](https://www.tipranks.com/glossary/d/disclaimer-\ndisclosure) [ Report an Issue ](https://www.tipranks.com/glossary/c/contact-\neditor)\n\n * [ Cronos Group Appoints Anna Shlimak as New CFO ](https://www.tipranks.com/news/company-announcements/cronos-group-appoints-anna-shlimak-as-new-cfo?utm_source=markets.businessinsider.com&utm_medium=referral)\n * [ Cronos Group appoints Shlimak as Chief Financial Officer ](https://www.tipranks.com/news/the-fly/cronos-group-appoints-shlimak-as-chief-financial-officer?utm_source=markets.businessinsider.com&utm_medium=referral)\n * [ Largest borrow rate increases among liquid names ](https://www.tipranks.com/news/the-fly/largest-borrow-rate-increases-among-liquid-names-546?utm_source=markets.businessinsider.com&utm_medium=referral)\n * [ Cronos Group\u2019s Growth Hindered by Capacity Constraints and Market Limitations, Maintains Sell Rating ](https://www.tipranks.com/news/ratings/cronos-groups-growth-hindered-by-capacity-constraints-and-market-limitations-maintains-sell-rating?utm_source=markets.businessinsider.com&utm_medium=referral)\n * [ Cronos Group Reports Strong 2024 Financial Results ](https://www.tipranks.com/news/company-announcements/cronos-group-reports-strong-2024-financial-results?utm_source=markets.businessinsider.com&utm_medium=referral)\n\nSHARE THIS POST\n\nFACEBOOK\n\nTWITTER\n\nEMAIL\n\nCOPY LINK\n\n## Cronos News [ MORE ](/news/cron \"News about Cronos\")\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](/news/stocks/cronos-group-inc-to-hold-2025-first-quarter-earnings-\nconference-call-on-may-8-2025-1034618740) GlobeNewswire 1h \n--- \n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](/news/stocks/cronos-unveils-new-\nspinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-\ncannabinoids-1034606316) GlobeNewswire 2d \n[ Cronos Group\u2019s Spinach introduces three new vape products\n](/news/stocks/cronos-group-s-spinach-introduces-three-new-vape-\nproducts-1034608709) TipRanks 2d \n[ Cronos Group price target lowered to $1.65 from $2 at BofA\n](/news/stocks/cronos-group-price-target-lowered-to-1-65-from-2-at-\nbofa-1034561923) TipRanks 16d \n[ Cronos Appoints Anna Shlimak as Chief Financial Officer\n](/news/stocks/cronos-appoints-anna-shlimak-as-chief-financial-\nofficer-1034492129) GlobeNewswire 36d \n[ Cronos Group appoints Shlimak as Chief Financial Officer\n](/news/stocks/cronos-group-appoints-shlimak-as-chief-financial-\nofficer-1034494022) TipRanks 36d \n[ Cronos Group Inc. to Speak at the 37th Annual Roth Conference\n](/news/stocks/cronos-group-inc-to-speak-at-the-37th-annual-roth-\nconference-1034458794) GlobeNewswire 45d \n[ Largest borrow rate increases among liquid names ](/news/stocks/largest-\nborrow-rate-increases-among-liquid-names-1034453747) TipRanks 48d \n \n[ Start Trading Futures ](https://g.finanzen.net/p500-mi_020-web-buttons-news\n\"Plus500. 82% of retail CFD accounts lose money\")\n\n## Related Stocks\n\n[ CRON ](/stocks/cron-stock)\n\n1.80\n\n0.01 (0.38%)\n\n09:12:19 AM\n\n[ Disclaimer ](http://businessinsider.com/disclaimer-finance)\n\n[ Get real-time CRON charts here >> ](/stocks/cron-stock)\n\n[ ](https://markets.businessinsider.com/) Follow us on: [\n](https://www.facebook.com/MrktsInsider \"Follow us on Facebook\") [\n](https://x.com/mktsinsider \"Follow us on X\")\n\nSee also: [ ](https://www.businessinsider.com)\n\n[ Indices ](/indices)\n\n * [ Dow Jones ](/index/dow_jones)\n * [ S&P 500 ](/index/s&p_500)\n * [ Nasdaq 100 ](/index/nasdaq_100)\n * [ Nasdaq Composite ](/index/nasdaq_composite)\n * [ FTSE 100 ](/index/ftse_100)\n * [ Nikkei 225 ](/index/nikkei_225)\n * [ DAX 40 ](/index/dax)\n * [ Hang Seng ](/index/hang_seng)\n * [ Kospi ](/index/kospi)\n * [ S&P TSX Composite Index ](/index/s&p_tsx_composite_index)\n * [ ASX ](/index/asx)\n * [ US Dollar Index ](/index/us-dollar-index)\n * [ Stock Indices ](/indices)\n * [ Dow Futures ](/futures/dow-futures)\n * [ Dow Jones Market Movers ](/market-movers/dow_jones)\n\n[ Commodities ](/commodities)\n\n * [ Gold Price ](/commodities/gold-price)\n * [ Oil Price ](/commodities/oil-price?type=wti)\n * [ Silver Price ](/commodities/silver-price)\n * [ Copper Price ](/commodities/copper-price)\n * [ Cotton Price ](/commodities/cotton-price)\n * [ Heating Oil Price ](/commodities/heating-oil-price)\n * [ Aluminum Price ](/commodities/aluminum-price)\n * [ Natural Gas Price ](/commodities/natural-gas-price)\n * [ Realtime Commodity Prices ](/commodities/realtime-list)\n\n[ Currencies ](/currencies)\n\n * [ EURO DOLLAR ](/currencies/eur-usd)\n * [ Bitcoin Price ](/currencies/btc-usd)\n * [ ETH USD ](/currencies/eth-usd)\n * [ CAD USD ](/currencies/usd-cad)\n * [ PESO USD ](/currencies/usd-mxn)\n * [ POUND USD ](/currencies/gbp-usd)\n * [ USD INR ](/currencies/usd-inr)\n * [ Currency Converter ](/currency-converter)\n * [ Exchange Rates ](/currencies)\n\n[ Stocks ](/stocks)\n\n * [ Google Stock ](/stocks/goog-stock)\n * [ Meta Stock ](/stocks/meta-stock)\n * [ Amazon Stock ](/stocks/amzn-stock)\n * [ Tesla Stock ](/stocks/tsla-stock)\n * [ Dow-Stock ](/stocks/dow-stock)\n * [ Premarket ](/premarket)\n * [ Stock Market News ](/news)\n\n * [ *\u00a9 2025 ](https://www.insider-inc.com/terms/) Insider Inc. and [ finanzen.net ](https://www.finanzen.net/impressum) GmbH (Imprint). All rights reserved. Registration on or use of this site constitutes acceptance of our [ Terms of Service ](https://www.insider-inc.com/terms/) and [ Privacy Policy. ](https://www.insider-inc.com/privacy-policy)\n\n * [ Disclaimer ](https://www.insider-inc.com/disclaimer)\n * [ Accessibility Statement ](https://www.insider-inc.com/accessibility)\n * [ Commerce Policy ](https://www.insider-inc.com/commerce-on-insider-inc/)\n * [ Advertising Policies ](https://www.insider-inc.com/advertising-policies)\n * Stock quotes by [ finanzen.net ](https://www.finanzen.net/)\n * * [ Contact Us ](https://www.businessinsider.com/contact)\n * [ Masthead ](https://www.businessinsider.com/masthead)\n\n[ Your Privacy Choices ](/your-privacy-choices)\n\n",
"url": "https://markets.businessinsider.com/news/stocks/cronos-group-price-target-lowered-to-1-65-from-2-at-bofa-1034561923"
},
"reason": "Business Insider is a reputable news source, and this article reports on an analyst's price target adjustment for Cronos Group. The information is clearly attributed to BofA, adding to its reliability.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group price target lowered to $1.65 from $2 at BofA, according to Business Insider.",
"url": "https://markets.businessinsider.com/news/stocks/cronos-group-price-target-lowered-to-1-65-from-2-at-bofa-1034561923"
},
{
"content": {
"metadata": {
"ext_id": "1660591d-2705-4117-a838-26e15878474a",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "http://financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025"
},
"page_content": "Advertisement oop\n\nStory continues below\n\nThis advertisement has not loaded yet, but your article continues below.\n\nSkip to Content\n\nAdvertisement 1\n\nThis advertisement has not loaded yet, but your article continues below.\n\nThis section is\n\nThe content in this section is supplied by GlobeNewswire for the purposes of\ndistributing press releases on behalf of its clients. Postmedia has not\nreviewed the content.\n\nby [ GlobeNewswire ](https://globenewswire.com/ \"Link to GlobeNewswire\nAdvertorial \\(Leaving Financial Post\\)\")\n\n[ ](https://globenewswire.com/ \"Link to GlobeNewswire Advertorial \\(Leaving\nFinancial Post\\)\")\n\nArticle content\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) \u2014 Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8, 2025 at 8:30 a.m. ET. Cronos\u2019\nsenior management team will discuss the Company\u2019s financial results and will\nbe available for questions from the investment community after prepared\nremarks.\n\n## Sign In or Create an Account\n\nor\n\n[ View more offers ](/subscribe)\n\nIf you are a Home delivery print subscriber, online access is **included** in\nyour subscription. [ Activate your Online Access Now ](/activate/)\n\nArticle content\n\nWe apologize, but this video has failed to load.\n\nTry refreshing your browser, or \n[ tap here to see other videos from our team ](/video-centre/ \"Video Centre\")\n.\n\nArticle content\n\nTo attend the conference call or webcast, participants should register online\nat [ https://ir.thecronosgroup.com/events-presentations\n](https://ir.thecronosgroup.com/events-presentations) . To avoid delays, we\nencourage participants to dial into the conference call fifteen minutes ahead\nof the scheduled start time. The webcast of the call will be archived for\nreplay on the Company\u2019s website.\n\nArticle content\n\nArticle content\n\n**About Cronos**\n\nArticle content\n\nTop Stories\n\nGet the latest headlines, breaking news and columns.\n\nBy signing up you consent to receive the above newsletter from Postmedia\nNetwork Inc.\n\nThanks for signing up!\n\nA welcome email is on its way. If you don't see it, please check your junk\nfolder.\n\nThe next issue of Top Stories will soon be in your inbox.\n\nWe encountered an issue signing you up. Please try again\n\nInterested in more newsletters? [ Browse here. ](/newsletters)\n\nArticle content\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit: [\nthecronosgroup.com ](https://thecronosgroup.com/) .\n\nArticle content\n\n**Forward-looking Statements**\n\nArticle content\n\nThis press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about Cronos\u2019 intention to build an international\niconic brand portfolio and develop disruptive intellectual property. Forward-\nlooking Statements are necessarily based upon a number of estimates and\nassumptions that, while considered reasonable by management, are inherently\nsubject to significant business, economic and competitive risks, financial\nresults, results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and\nEDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement.\n\nArticle content\n\n**Cronos Contact** \nHarrison Aaron \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\nArticle content\n\nArticle content\n\n \n\nArticle content\n\n \n\nArticle content\n\nArticle content\n\nArticle content\n\nAdvertisement 1\n\nThis advertisement has not loaded yet.\n\nTrending\n\n 1. ### [ The Canadian dollar is diving against other major currencies despite gaining against the greenback ](/news/economy/canadian-dollar-diving-major-currencies-greenback)\n\n[ ](/news/economy/canadian-dollar-diving-major-currencies-greenback)\n\n[ Economy ](/category/news/economy/)\n\n 2. ### [ Canadians turn against condos as a 'good' investment as sector goes through 'rough period' ](/real-estate/canadians-turn-against-condos-as-good-investment)\n\n[ ](/real-estate/canadians-turn-against-condos-as-good-investment)\n\n[ Real Estate ](/category/real-estate/)\n\n 3. ### [ Carney makes Canada's Liberal Party acceptable to CEOs again, poll suggests ](/pmn/business-pmn/carney-makes-canadas-liberal-party-acceptable-to-ceos-again)\n\n[ ](/pmn/business-pmn/carney-makes-canadas-liberal-party-acceptable-to-ceos-\nagain)\n\n[ PMN Business ](/category/pmn/business-pmn/)\n\n 4. ### [ Anti-Trump rage unites Canada, with the exception of oil-rich Alberta ](/federal_election/anti-trump-canada-alberta)\n\n[ ](/federal_election/anti-trump-canada-alberta)\n\n[ Federal Election ](/category/federal_election/)\n\n 5. ### [ Posthaste: Job losses 'unavoidable' in Canada's auto sector as Donald Trump doubles down on tariff threat ](/news/trump-tariffs-threaten-canada-auto-industry-jobs)\n\n[ ](/news/trump-tariffs-threaten-canada-auto-industry-jobs)\n\n[ News ](/category/news/)\n\nShare this article in your social network\n\n * [ ](mailto:?Subject=I%20saw%20this%20on%20Financial%20Post&Body=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025)\n * [ ](https://www.reddit.com/submit?kind=link&url=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025&title= \"Share on Reddit in new tab\")\n * [ ](https://twitter.com/intent/tweet?url=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025&text=Cronos%20Group%20Inc.%20to%20Hold%202025%20First%20Quarter%20Earnings%20Conference%20Call%20on%20May%208%2C%202025&via= \"Share on X in new tab\")\n * [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025 \"Share on LinkedIn\")\n * Share this Story : Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May 8, 2025 \n\n * [ Copy Link ](https://financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025)\n * [ Email ](mailto:?Subject=I%20saw%20this%20on%20Financial%20Post&Body=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025 \"Share via email\")\n * [ X ](https://twitter.com/intent/tweet?url=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025&text=Cronos%20Group%20Inc.%20to%20Hold%202025%20First%20Quarter%20Earnings%20Conference%20Call%20on%20May%208%2C%202025&via= \"Share on X in new tab\")\n * [ Reddit ](https://www.reddit.com/submit?kind=link&url=https%3A//financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025&title=Cronos%20Group%20Inc.%20to%20Hold%202025%20First%20Quarter%20Earnings%20Conference%20Call%20on%20May%208%2C%202025 \"Share on Reddit in new tab\")\n * [ LinkedIn ](https://www.linkedin.com/sharing/share-offsite/?url=https://financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025 \"Share on LinkedIn in new tab\")\n * [ Tumblr ](https://www.tumblr.com/widgets/share/tool?canonicalUrl=https://financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025&title=Cronos%20Group%20Inc.%20to%20Hold%202025%20First%20Quarter%20Earnings%20Conference%20Call%20on%20May%208%2C%202025 \"Share on Tumblr in new tab\")\n\nComments\n\nYou must be logged in to join the discussion or read more comments.\n\n[ Create an Account ](/register/) [ Sign in ](/sign-in/)\n\nJoin the Conversation\n\nPostmedia is committed to maintaining a lively but civil forum for discussion.\nPlease keep comments relevant and respectful. Comments may take up to an hour\nto appear on the site. You will receive an email if there is a reply to your\ncomment, an update to a thread you follow or if a user you follow comments.\nVisit our [ Community Guidelines ](/community-guidelines/) for more\ninformation.\n\nFeatured Local Savings\n\n[ Subscribe for $0.99/week\n](https://financialpost.com/subscribe/recommended/subscribe-\nbutton/?utm_source=on-net&utm_medium=subscribe-button&utm_campaign=spring-\nsale&utm_content=)\n\n[ ](/ \"Link to Home page\")\n\n* * *\n\n* * *\n\n[ ](https://www.postmedia.com/brands \"Visit the Postmedia Brands page\n\\(Leaving Financial Post\\)\")\n\n365 Bloor Street East, Toronto, Ontario, M4W 3L4\n\n\u00a9 2025 Financial Post, a division of Postmedia Network Inc. All rights\nreserved. Unauthorized distribution, transmission or republication strictly\nprohibited.\n\nNotice for the Postmedia Network\n\nThis website uses cookies to personalize your content (including ads), and\nallows us to analyze our traffic. Read more about [ cookies here ](/cookie-\npolicy/) . By continuing to use our site, you agree to our [ Terms of Use\n](https://www.postmedia.com/terms-and-conditions/ \"Terms of Use \\(Leaving\nFinancial Post\\)\") and [ Privacy Policy ](/privacy-statement/en/) .\n\n## You've reached the 20 article limit.\n\nYou can manage saved articles in your account.\n\n[ Subscribe for $0.99/week\n](https://financialpost.com/subscribe/recommended/subscribe-\nbutton/?utm_source=on-net&utm_medium=subscribe-button&utm_campaign=spring-\nsale&utm_content=)\n\nand save up to 100 articles!\n\n## Looks like you've reached your saved article limit!\n\nYou can manage your saved articles in your [ account ](/saved-articles/) and\nclicking the X located at the bottom right of the article.\n\n",
"url": "http://financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025"
},
"reason": "This is a news release distributed via GlobeNewswire and published on Financial Post, announcing Cronos Group's upcoming earnings call. It's a reliable source for this specific information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group Inc. to hold 2025 first-quarter earnings conference call on May 8, 2025, according to Financial Post.",
"url": "http://financialpost.com/globe-newswire/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-2025"
},
{
"content": {
"metadata": {
"ext_id": "8d4b4c5b-63b1-4bd2-9428-65c90f7b3662",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.stocktitan.net/news/CRON/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-aqypuxwlsr4i.html"
},
"page_content": " 1. [ Home ](/)\n 2. [ News ](/news/live.html)\n 3. [ CRON ](/news/CRON/)\n 4. Cronos Group Inc. to Hold 2024 Fourth Quarter and Full-Year Earnings Conference Call on February 27, 2025 \n\n##### [ Trending News __ ](/news/trending.html)\n\n[ ](/news/ZENA/ \" ZENA Stock News\")\n\n[ ZENA ](/news/ZENA/)\n\n[ ZenaTech\u2019s ZenaDrone Granted FAA Part 137 Approval for Agricultur...\n](/news/ZENA/zena-tech-s-zena-drone-granted-faa-part-137-approval-\nfor-61f0zwck5oj3.html)\n\n[ ](/news/ELAB/ \" ELAB Stock News\")\n\n[ ELAB ](/news/ELAB/)\n\n[ Northstrive Biosciences Announces Positive FDA Response Supportin...\n](/news/ELAB/northstrive-biosciences-announces-positive-fda-response-\nsupporting-a-4vmy4emfa7wu.html)\n\n[ ](/news/LRHC/ \" LRHC Stock News\")\n\n[ LRHC ](/news/LRHC/)\n\n[ La Rosa Holdings Corp. Announces Authorization of Stock Buyback P...\n](/news/LRHC/la-rosa-holdings-corp-announces-authorization-of-stock-\nbuyback-f5vgudr2akqg.html)\n\n[ ](/news/ARBE/ \" ARBE Stock News\")\n\n[ ARBE ](/news/ARBE/)\n\n[ HiRain Launches LRR615, Production-Intent Imaging Radar System Ba...\n](/news/ARBE/hi-rain-launches-lrr615-production-intent-imaging-radar-system-\nbased-l3u7k3c7z7jp.html)\n\n[ ](/news/ONCY/ \" ONCY Stock News\")\n\n[ ONCY ](/news/ONCY/)\n\n[ Oncolytics Biotech\u00ae to Showcase New Pancreatic Cancer Data at ASC...\n](/news/ONCY/oncolytics-biotech-to-showcase-new-pancreatic-cancer-data-at-\nasco-fgscyjq04cn1.html)\n\n[ ](/news/IPHA/ \" IPHA Stock News\")\n\n[ IPHA ](/news/IPHA/)\n\n[ Innate Pharma Announces \u20ac15M Investment by Sanofi ](/news/IPHA/innate-\npharma-announces-15m-investment-by-4qohscfvtl47.html)\n\n[ ](/news/ZENA/ \" ZENA Stock News\")\n\n[ ZENA ](/news/ZENA/)\n\n[ ZenaTech\u2019s ZenaDrone Granted FAA Part 137 Approval for Agricultur...\n](/news/ZENA/zena-tech-s-zena-drone-granted-faa-part-137-approval-\nfor-61f0zwck5oj3.html)\n\n[ ](/news/ELAB/ \"Elevai Labs Inc. ELAB Stock News\")\n\n[ ELAB ](/news/ELAB/)\n\n[ Northstrive Biosciences Announces Positive FDA Response Supportin...\n](/news/ELAB/northstrive-biosciences-announces-positive-fda-response-\nsupporting-a-4vmy4emfa7wu.html)\n\n[ ](/news/LRHC/ \"La Rosa Holdings Corp LRHC Stock News\")\n\n[ LRHC ](/news/LRHC/)\n\n[ La Rosa Holdings Corp. Announces Authorization of Stock Buyback P...\n](/news/LRHC/la-rosa-holdings-corp-announces-authorization-of-stock-\nbuyback-f5vgudr2akqg.html)\n\n[ ](/news/ARBE/ \"Arbe Robotics Ltd ARBE Stock News\")\n\n[ ARBE ](/news/ARBE/)\n\n[ HiRain Launches LRR615, Production-Intent Imaging Radar System Ba...\n](/news/ARBE/hi-rain-launches-lrr615-production-intent-imaging-radar-system-\nbased-l3u7k3c7z7jp.html)\n\n[ ](/news/ONCY/ \"Oncolytics Biotech, Inc. ONCY Stock News\")\n\n[ ONCY ](/news/ONCY/)\n\n[ Oncolytics Biotech\u00ae to Showcase New Pancreatic Cancer Data at ASC...\n](/news/ONCY/oncolytics-biotech-to-showcase-new-pancreatic-cancer-data-at-\nasco-fgscyjq04cn1.html)\n\n[ ](/news/IPHA/ \"Innate Pharma IPHA Stock News\")\n\n[ IPHA ](/news/IPHA/)\n\n[ Innate Pharma Announces \u20ac15M Investment by Sanofi ](/news/IPHA/innate-\npharma-announces-15m-investment-by-4qohscfvtl47.html)\n\n# Cronos Group Inc. to Hold 2024 Fourth Quarter and Full-Year Earnings\nConference Call on February 27, 2025\n\nRhea-AI Impact\n\n(Low)\n\nRhea-AI Sentiment\n\n(Neutral)\n\nTags\n\nconferences [ earnings ](/news/earnings.html)\n\nRhea-AI Summary\n\n__\n\n * English \n * French \n * German \n * Italian \n * Korean \n * Spanish \n\n**Cronos Group** (NASDAQ: CRON) (TSX: CRON) has announced its upcoming **2024\nfourth-quarter and full-year earnings conference call** , scheduled for\nThursday, February 27, 2025, at 8:30 a.m. ET.\n\nThe company's senior management team will present financial results and\nparticipate in a Q&A session with the investment community.\n\nInterested participants are encouraged to register online at the company's\ninvestor relations website and dial in fifteen minutes before the scheduled\nstart time to avoid delays. The webcast will be archived on Cronos' website\nfor later viewing.\n\n**Cronos Group** (NASDAQ: CRON) (TSX: CRON) ha annunciato la sua prossima\n**call di conferenza sui risultati finanziari del quarto trimestre e\ndell'intero anno 2024** , programmata per gioved\u00ec 27 febbraio 2025, alle 8:30\nET.\n\nIl team di alta direzione dell'azienda presenter\u00e0 i risultati finanziari e\nparteciper\u00e0 a una sessione di domande e risposte con la comunit\u00e0 degli\ninvestitori.\n\nI partecipanti interessati sono invitati a registrarsi online sul sito web\ndelle relazioni con gli investitori dell'azienda e a chiamare quindici minuti\nprima dell'orario previsto per evitare ritardi. La trasmissione in diretta\nsar\u00e0 archiviata sul sito di Cronos per la visione successiva.\n\n**Cronos Group** (NASDAQ: CRON) (TSX: CRON) ha anunciado su pr\u00f3xima\n**conferencia telef\u00f3nica sobre los resultados financieros del cuarto trimestre\ny del a\u00f1o completo 2024** , programada para el jueves 27 de febrero de 2025, a\nlas 8:30 a.m. ET.\n\nEl equipo de alta direcci\u00f3n de la empresa presentar\u00e1 los resultados\nfinancieros y participar\u00e1 en una sesi\u00f3n de preguntas y respuestas con la\ncomunidad inversora.\n\nSe anima a los participantes interesados a registrarse en l\u00ednea en el sitio\nweb de relaciones con inversores de la empresa y a llamar quince minutos antes\nde la hora programada para evitar retrasos. La transmisi\u00f3n se archivar\u00e1 en el\nsitio web de Cronos para su visualizaci\u00f3n posterior.\n\n**\ud06c\ub85c\ub178\uc2a4 \uadf8\ub8f9** (NASDAQ: CRON) (TSX: CRON)\uc740 **2024\ub144 4\ubd84\uae30 \ubc0f \uc5f0\uac04 \uc2e4\uc801 \ubc1c\ud45c \ucee8\ud37c\ub7f0\uc2a4 \ucf5c** \uc744\n2025\ub144 2\uc6d4 27\uc77c \ubaa9\uc694\uc77c \uc624\uc804 8\uc2dc 30\ubd84 ET\uc5d0 \uac1c\ucd5c\ud55c\ub2e4\uace0 \ubc1c\ud45c\ud588\uc2b5\ub2c8\ub2e4.\n\n\ud68c\uc0ac\uc758 \uace0\uc704 \uacbd\uc601\uc9c4\uc774 \uc7ac\ubb34 \uacb0\uacfc\ub97c \ubc1c\ud45c\ud558\uace0 \ud22c\uc790 \ucee4\ubba4\ub2c8\ud2f0\uc640\uc758 \uc9c8\uc758\uc751\ub2f5 \uc138\uc158\uc5d0 \ucc38\uc5ec\ud560 \uc608\uc815\uc785\ub2c8\ub2e4.\n\n\uad00\uc2ec \uc788\ub294 \ucc38\uac00\uc790\ub4e4\uc740 \ud68c\uc0ac\uc758 \ud22c\uc790\uc790 \uad00\uacc4 \uc6f9\uc0ac\uc774\ud2b8\uc5d0\uc11c \uc628\ub77c\uc778\uc73c\ub85c \ub4f1\ub85d\ud558\uace0 \uc608\uc815\ub41c \uc2dc\uc791 \uc2dc\uac04 15\ubd84 \uc804\uc5d0 \uc804\ud654\ud574 \uc9c0\uc5f0\uc744 \ud53c\ud560 \uac83\uc744 \uad8c\uc7a5\ud569\ub2c8\ub2e4.\n\uc6f9\uce90\uc2a4\ud2b8\ub294 \ub098\uc911\uc5d0 \ubcfc \uc218 \uc788\ub3c4\ub85d \ud06c\ub85c\ub178\uc2a4 \uc6f9\uc0ac\uc774\ud2b8\uc5d0 \uc544\uce74\uc774\ube0c\ub429\ub2c8\ub2e4.\n\n**Cronos Group** (NASDAQ: CRON) (TSX: CRON) a annonc\u00e9 sa prochaine\n**conf\u00e9rence t\u00e9l\u00e9phonique sur les r\u00e9sultats financiers du quatri\u00e8me trimestre\net de l'ann\u00e9e 2024** , pr\u00e9vue pour le jeudi 27 f\u00e9vrier 2025, \u00e0 8h30 ET.\n\nLa direction senior de l'entreprise pr\u00e9sentera les r\u00e9sultats financiers et\nparticipera \u00e0 une session de questions-r\u00e9ponses avec la communaut\u00e9 des\ninvestisseurs.\n\nLes participants int\u00e9ress\u00e9s sont encourag\u00e9s \u00e0 s'inscrire en ligne sur le site\nweb des relations investisseurs de l'entreprise et \u00e0 se connecter quinze\nminutes avant l'heure de d\u00e9but pr\u00e9vue pour \u00e9viter les retards. Le webinaire\nsera archiv\u00e9 sur le site de Cronos pour une consultation ult\u00e9rieure.\n\n**Cronos Group** (NASDAQ: CRON) (TSX: CRON) hat seine bevorstehende\n**Telefonkonferenz zu den Finanzergebnissen f\u00fcr das vierte Quartal und das\ngesamte Jahr 2024** angek\u00fcndigt, die f\u00fcr Donnerstag, den 27. Februar 2025, um\n8:30 Uhr ET geplant ist.\n\nDas leitende Management-Team des Unternehmens wird die finanziellen Ergebnisse\npr\u00e4sentieren und an einer Frage-und-Antwort-Runde mit der\nInvestmentgemeinschaft teilnehmen.\n\nInteressierte Teilnehmer werden ermutigt, sich online auf der Investor-\nRelations-Website des Unternehmens zu registrieren und 15 Minuten vor der\ngeplanten Startzeit anzurufen, um Verz\u00f6gerungen zu vermeiden. Die\nWeb\u00fcbertragung wird auf der Website von Cronos f\u00fcr eine sp\u00e4tere Ansicht\narchiviert.\n\nPositive\n\n * None. \n\nNegative\n\n * None. \n\n* [ ](https://twitter.com/intent/tweet?text=%24CRON%20Cronos%20Group%20Inc.%20to%20Hold%202024%20Fourth%20Quarter%20and%20Full-Year%20Earnings%20Conference%20Call%20on%20February%2027%2C%202025%0Ahttps%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-aqypuxwlsr4i.html \"Share on X\")\n* [ ](https://reddit.com/submit?url=https%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-aqypuxwlsr4i.html&title=Cronos%20Group%20Inc.%20to%20Hold%202024%20Fourth%20Quarter%20and%20Full-Year%20Earnings%20Conference%20Call%20on%20February%2027%2C%202025 \"Share on Reddit\")\n* [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-aqypuxwlsr4i.html"e=%24CRON%20%7C%20Cronos%20Group%20Inc.%20to%20Hold%202024%20Fourth%20Quarter%20and%20Full-Year%20Earnings%20Conference%20Call%20on%20February%2027%2C%202025 \"Share on Facebook\")\n* 02/24/2025 - 04:45 PM \n\nTORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2024 fourth-quarter and\nfull-year earnings conference call on Thursday, February 27, 2025 at 8:30 a.m.\nET. Cronos\u2019 senior management team will discuss the Company\u2019s financial\nresults and will be available for questions from the investment community\nafter prepared remarks.\n\nTo attend the conference call or webcast, participants should register online\nat [ https://ir.thecronosgroup.com/events-presentations\n](https://ir.thecronosgroup.com/events-presentations) . To avoid delays, we\nencourage participants to dial into the conference call fifteen minutes ahead\nof the scheduled start time. The webcast of the call will be archived for\nreplay on the Company\u2019s website.\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: [ thecronosgroup.com ](https://thecronosgroup.com/) .\n\n**Forward-looking Statements**\n\nThis press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about Cronos\u2019 intention to build an international\niconic brand portfolio and develop disruptive intellectual property. Forward-\nlooking Statements are necessarily based upon a number of estimates and\nassumptions that, while considered reasonable by management, are inherently\nsubject to significant business, economic and competitive risks, financial\nresults, results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q\nfor the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024,\neach of which have been filed on SEDAR+ and EDGAR and can be accessed at\nwww.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking\nStatement included in this press release is made as of the date of this press\nrelease and, except as required by law, Cronos disclaims any obligation to\nupdate or revise any Forward-looking Statement. Readers are cautioned not to\nput undue reliance on any Forward-looking Statement.\n\n**Cronos Contact** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\n[ ](https://www.stocktitan.net/news/CRON/ \"Cronos Group CRON Stock News\")\n\nCronos Group\n\n### NASDAQ: [ CRON ](/news/CRON/)\n\n### CRON Rankings\n\n[ **N/A** Ranked by Market Cap ](/rankings/companies-market-cap/link-\nsymbol?s=CRON)\n\n[ **N/A** Ranked by Dividends ](/rankings/companies-dividends/link-\nsymbol?s=CRON)\n\n### CRON Latest News\n\nApr 24, 2025\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](/news/CRON/cronos-group-inc-to-hold-2025-first-quarter-earnings-\nconference-call-a31lvj1gc0md.html)\n\nApr 22, 2025\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](/news/CRON/cronos-unveils-new-\nspinach-1-2g-vapes-and-sourz-by-spinach-gummies-4hxc93v32fr4.html)\n\nMar 19, 2025\n\n[ Cronos Appoints Anna Shlimak as Chief Financial Officer ](/news/CRON/cronos-\nappoints-anna-shlimak-as-chief-financial-8vgelca718es.html)\n\nMar 10, 2025\n\n[ Cronos Group Inc. to Speak at the 37th Annual Roth Conference\n](/news/CRON/cronos-group-inc-to-speak-at-the-37th-annual-roth-\nxcxhnyellcyc.html)\n\nFeb 27, 2025\n\n[ Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n](/news/CRON/cronos-group-reports-2024-fourth-quarter-and-full-year-\nft1pmfo4ixz2.html)\n\n### CRON Stock Data __\n\n657.95M\n\n197.70M\n\n46.39%\n\n14.32%\n\n1.19%\n\nDrug Manufacturers - Specialty & Generic\n\nMedicinal Chemicals & Botanical Products\n\n[ Link ](https://www.thecronosgroup.com)\n\nCanada\n\nSTAYNER\n\nExplore\n\n * [ About ](/about)\n * [ Rhea-AI ](/rhea-ai.html)\n * [ Sitemap ](/sitemap/news)\n\nLegal\n\n * [ Terms of Use ](/terms-of-use)\n * [ Cookie Notice ](/cookies)\n * [ Privacy Policy ](/privacy)\n\nLinks\n\n * [ RSS feed ](https://www.stocktitan.net/rss)\n * [ Discord Server ](https://discord.gg/B9J4P9XW2G)\n * [ Facebook ](https://www.facebook.com/stocktitan.net)\n * [ Reddit ](https://www.reddit.com/r/StockTitan/)\n\n\u00a9 2020-2025 StockTitan.net\n\nLogin\n\nPlease enter your login and password\n\nWrong username or password.\n\nDon't have an account? Sign Up!\n\nForgot Password\n\nPlease enter your email address\n\nAn email has been sent to your address with instructions for changing your\npassword.\n\nThere is no user registered with this email.\n\nSign Up\n\nTo create a free account, please fill out the form below.\n\nThank you for signing up! \nA confirmation email has been sent to your email address. Please check your\nemail and follow the instructions in the message to complete the registration\nprocess. If you do not receive the email, please check your spam folder or\ncontact us for assistance. \nWelcome to our platform!\n\nOops! \nSomething went wrong while trying to create your new account. Please try again\nand if the problem persist, [ Email Us ](mailto:info@stocktitan.net) to\nreceive support.\n\nAlready have an account? Login\n\n",
"url": "https://www.stocktitan.net/news/CRON/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-aqypuxwlsr4i.html"
},
"reason": "StockTitan republishes press releases. The content is originally from Cronos Group, making it reliable for factual announcements, but it's not an independent analysis.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group Inc. to hold 2024 fourth-quarter and full-year earnings conference call, as reported on StockTitan.",
"url": "https://www.stocktitan.net/news/CRON/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-aqypuxwlsr4i.html"
},
{
"content": {
"metadata": {
"ext_id": "25d47172-d7dc-4368-8959-81cdef7fdd55",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://finance.yahoo.com/quote/CRON/"
},
"page_content": "Oops, something went wrong\n\nUnlock stock picks and a broker-level newsfeed that powers Wall Street.\n\nNasdaqGM - Delayed Quote \u2022 USD\n\n# Cronos Group Inc. (CRON)\n\n1.7900\n\n+0.0200\n\n+(1.13%)\n\nAt close: April 23 at 4:00:01 PM EDT\n\n1.7900\n\n0.00\n\n(0.00%)\n\nPre-Market: 9:25:04 AM EDT\n\n[ Advanced Chart ](/chart/CRON)\n\nLoading Chart for CRON\n\n * Previous Close 1.7700 \n * Open 1.7800 \n * Bid 1.7700 x 800 \n * Ask 1.8200 x 800 \n * Day's Range 1.7600 - 1.8100 \n * 52 Week Range 1.6000 - 3.1400 \n * Volume 1,172,175 \n * Avg. Volume 1,632,049 \n * Market Cap (intraday) 684.99M \n * Beta (5Y Monthly) 1.42 \n * PE Ratio (TTM) 16.27 \n * EPS (TTM) 0.1100 \n * Earnings Date May 7, 2025 - May 12, 2025 \n * Forward Dividend & Yield \\-- \n * Ex-Dividend Date \\-- \n * 1y Target Est 1.94 \n\nCronos Group Inc. operates as a cannabinoid company that engages in the\ncultivation, production, distribution, and marketing of cannabis products in\nCanada, Israel, and internationally. The company offers dried flower, pre-\nrolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach,\nLord Jones, and PEACE NATURALS brand names. Cronos Group Inc. was founded in\n2012 and is based in Stayner, Canada.\n\n[ www.thecronosgroup.com ](https://www.thecronosgroup.com)\n\n459\n\n### Full Time Employees\n\nDecember 31\n\n### Fiscal Year Ends\n\n[ Healthcare ](/sectors/healthcare/)\n\n### Sector\n\n[ Drug Manufacturers - Specialty & Generic ](/sectors/healthcare/drug-\nmanufacturers-specialty-generic/)\n\n### Industry\n\n[ More about Cronos Group Inc. ](/quote/CRON/profile/)\n\n[ View More ](/quote/CRON/news/ \"View More\")\n\nTrailing total returns as of 4/23/2025, which may include dividends or other\ndistributions. Benchmark is [ S&P/TSX Composite index (^GSPTSE)\n](/quote/%5EGSPTSE/ \"S&P/TSX Composite index \\(^GSPTSE\\)\") .\n\nCRON\n\n8.21%\n\nS&P/TSX Composite index (^GSPTSE)\n\n0.60%\n\nCRON\n\n27.53%\n\nS&P/TSX Composite index (^GSPTSE)\n\n11.18%\n\nCRON\n\n41.50%\n\nS&P/TSX Composite index (^GSPTSE)\n\n15.51%\n\nCRON\n\n70.12%\n\nS&P/TSX Composite index (^GSPTSE)\n\n71.72%\n\nSelect to analyze similar companies using key performance metrics; select up\nto 4 stocks.\n\n[ CRON Cronos Group Inc. ](/quote/CRON/)\n\n1.7900\n\n+1.13%\n\nMkt Cap 684.99M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ ACB Aurora Cannabis Inc. ](/quote/ACB/)\n\n4.4000\n\n+3.29%\n\nMkt Cap 243.718M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ CGC Canopy Growth Corporation ](/quote/CGC/)\n\n1.2400\n\n+5.08%\n\nMkt Cap 226.606M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ OGI Organigram Global Inc. ](/quote/OGI/)\n\n1.0800\n\n+1.89%\n\nMkt Cap 145.858M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ CURLF Curaleaf Holdings, Inc. ](/quote/CURLF/)\n\n0.9060\n\n-1.52% \n\nMkt Cap 686.277M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ TLRY Tilray Brands, Inc. ](/quote/TLRY/)\n\n0.4403\n\n-3.84% \n\nMkt Cap 438.925M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ TCNNF Trulieve Cannabis Corp. ](/quote/TCNNF/)\n\n3.8810\n\n-0.74% \n\nMkt Cap 740.603M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ GTBIF Green Thumb Industries Inc. ](/quote/GTBIF/)\n\n5.31\n\n-0.93% \n\nMkt Cap 1.252B\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ CRLBF Cresco Labs Inc. ](/quote/CRLBF/)\n\n0.6580\n\n+1.23%\n\nMkt Cap 229.225M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ VRNOF Verano Holdings Corp. ](/quote/VRNOF/)\n\n0.6400\n\n+3.23%\n\nMkt Cap 230.22M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ ACB.TO Aurora Cannabis Inc. ](/quote/ACB.TO/)\n\n6.15\n\n+4.24%\n\nMkt Cap CAD 337.537M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ Annual ](/about/plans/select-\nplan/historicalStatistics/?.done=%2Fquote%2FCRON%2F&ncid=100001118)\n\nAs of 4/23/2025\n\n * Market Cap \n\n684.99M\n\n * Enterprise Value \n\n-171.80M \n\n * Trailing P/E \n\n16.27\n\n * Forward P/E \n\n\\--\n\n * PEG Ratio (5yr expected) \n\n\\--\n\n * Price/Sales (ttm) \n\n5.81\n\n * Price/Book (mrq) \n\n0.64\n\n * Enterprise Value/Revenue \n\n\\--\n\n * Enterprise Value/EBITDA \n\n\\--\n\n#### Profitability and Income Statement\n\n * Profit Margin \n\n34.93%\n\n * Return on Assets (ttm) \n\n-2.94% \n\n * Return on Equity (ttm) \n\n3.63%\n\n * Revenue (ttm) \n\n117.61M\n\n * Net Income Avi to Common (ttm) \n\n41.08M\n\n * Diluted EPS (ttm) \n\n0.1100\n\n#### Balance Sheet and Cash Flow\n\n * Total Cash (mrq) \n\n858.8M\n\n * Total Debt/Equity (mrq) \n\n0.18%\n\n * Levered Free Cash Flow (ttm) \n\n-26.29M \n\n[ View More ](/quote/CRON/key-statistics/ \"View More\")\n\n[ View More ](/quote/CRON/analysis/ \"View More\")\n\n[ View More ](/research/stock-forecast/CRON?symbols=CRON \"View More\")\n\nCGC Canopy Growth Corporation\n\n**1.2400**\n\n+5.08%\n\n[ ](/quote/CGC/ \"CGC\")\n\nACB Aurora Cannabis Inc.\n\n**4.4000**\n\n+3.29%\n\n[ ](/quote/ACB/ \"ACB\")\n\nTLRY Tilray Brands, Inc.\n\n**0.4403**\n\n-3.84% \n\n[ ](/quote/TLRY/ \"TLRY\")\n\nCURLF Curaleaf Holdings, Inc.\n\n**0.9060**\n\n-1.52% \n\n[ ](/quote/CURLF/ \"CURLF\")\n\nOGI Organigram Global Inc.\n\n**1.0800**\n\n+1.89%\n\n[ ](/quote/OGI/ \"OGI\")\n\nGTBIF Green Thumb Industries Inc.\n\n**5.31**\n\n-0.93% \n\n[ ](/quote/GTBIF/ \"GTBIF\")\n\nTCNNF Trulieve Cannabis Corp.\n\n**3.8810**\n\n-0.74% \n\n[ ](/quote/TCNNF/ \"TCNNF\")\n\nIIPR Innovative Industrial Properties, Inc.\n\n**51.78**\n\n-1.09% \n\n[ ](/quote/IIPR/ \"IIPR\")\n\nCRLBF Cresco Labs Inc.\n\n**0.6580**\n\n+1.23%\n\n[ ](/quote/CRLBF/ \"CRLBF\")\n\nSNDL SNDL Inc.\n\n**1.4200**\n\n+2.16%\n\n[ ](/quote/SNDL/ \"SNDL\")\n\nGRWG GrowGeneration Corp.\n\n**0.9275**\n\n-0.28% \n\n[ ](/quote/GRWG/ \"GRWG\")\n\nWEED.TO Canopy Growth Corporation\n\n**1.7200**\n\n+4.24%\n\n[ ](/quote/WEED.TO/ \"WEED.TO\")\n\nSMG The Scotts Miracle-Gro Company\n\n**53.57**\n\n+0.94%\n\n[ ](/quote/SMG/ \"SMG\")\n\nSTZ Constellation Brands, Inc.\n\n**187.28**\n\n+0.15%\n\n[ ](/quote/STZ/ \"STZ\")\n\nVFF Village Farms International, Inc.\n\n**0.6133**\n\n-4.13% \n\n[ ](/quote/VFF/ \"VFF\")\n\nCWBHF Charlotte's Web Holdings, Inc.\n\n**0.0880**\n\n+3.53%\n\n[ ](/quote/CWBHF/ \"CWBHF\")\n\n[ ](/)\n\nCopyright \u00a9 2025 Yahoo. All rights reserved.\n\n[ ](https://twitter.com/YahooFinance \"Follow on Twitter\") [\n](https://facebook.com/yahoofinance \"Follow on Facebook\") [\n](https://www.linkedin.com/company/yahoo-finance \"Follow on LinkedIn\")\n\nPOPULAR QUOTES\n\n[ Dow Jones ](https://finance.yahoo.com/quote/%5EDJI/) [ S&P 500\n](https://finance.yahoo.com/quote/SPY/) [ DAX Index\n](https://finance.yahoo.com/quote/%5EGDAXI/) [ Nvidia\n](https://finance.yahoo.com/quote/NVDA/) [ Tesla\n](https://finance.yahoo.com/quote/TSLA/) [ DJT\n](https://finance.yahoo.com/quote/DJT/) [ Tariffs\n](https://finance.yahoo.com/topic/tariffs/)\n\nEXPLORE MORE\n\n[ Mortgages ](https://finance.yahoo.com/personal-finance/mortgages/) [ Credit\nCards ](https://finance.yahoo.com/personal-finance/credit-cards/) [ Sectors\n](https://finance.yahoo.com/sectors/) [ Crypto Heatmap\n](https://finance.yahoo.com/crypto/heatmap/) [ Financial News\n](https://finance.yahoo.com/news/)\n\nABOUT\n\n[ Data Disclaimer ](https://help.yahoo.com/kb/finance-for-\nweb/SLN2310.html?locale=en_US) [ Help ](https://help.yahoo.com/kb/finance-for-\nweb) [ Feedback ](https://yahoo.uservoice.com/forums/952723-finance-b3) [\nSitemap ](https://finance.yahoo.com/sitemap/) [ Licensing\n](https://info.wrightsmedia.com/yahoo-finance-licensing) [ What's New\n](https://finance.yahoo.com/about/whatsnew/) [ About Our Ads\n](https://policies.oath.com/us/en/oath/privacy/adinfo/index.html) [ Premium\nPlans ](/about/plans/)\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n",
"url": "https://finance.yahoo.com/quote/CRON/"
},
"reason": "Yahoo Finance provides stock quotes, financial news, and basic company information. It's a reputable source for quick financial data and headlines.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Stock quote and financial information for Cronos Group (CRON) on Yahoo Finance.",
"url": "https://finance.yahoo.com/quote/CRON/"
},
{
"content": {
"metadata": {
"ext_id": "351504da-cf32-4a23-8216-86ad31a3227d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
"page_content": "[ ](https://photobio.com/resources/photobio-rebates)\n\n# Cronos Group Founder Mike Gorenstein Returns as CEO\n\nThe executive shuffle comes as Kurt Schmidt, former president and CEO,\nretires.\n\n* * *\n\n[ ](/authors/contact/15684934/posted-by-tony-lange)\n\n[ Tony Lange ](/authors/contact/15684934/posted-by-tony-lange)\n\nMarch 21, 2022\n\n**TORONTO, March 21, 2022 \u2013 PRESS RELEASE \u2013** Cronos Group Inc., an innovative\nglobal cannabinoid company, announced that its board of directors has\nappointed Mike Gorenstein as chairman, president, and CEO, effective March 21,\n2022, in connection with Kurt Schmidt\u2019s retirement.\n\n\u201cMike is a visionary leader who knows Cronos better than anyone,\u201d said Jim\nRudyk, lead independent director of Cronos. \u201cHe is uniquely positioned to\noversee the implementation of our strategic and operational realignment\ninitiatives as we create a highly differentiated branded cannabinoid platform\nto drive long-term success. A key element of our plan is being ready for entry\ninto the U.S. cannabis market once federally permitted\u2014with Mike leading that\ncharge every step of the way.\u201d\n\n[ ](https://hubs.ly/Q03dknmq0)\n\nRudyk added, \u201cOn behalf of the board of directors, I would like to thank Kurt\nfor his stewardship through the challenges of the pandemic and broader\nindustry headwinds. We are grateful for his contributions to Cronos and wish\nhim all the best in his retirement.\u201d\n\n[ ](https://hubs.ly/Q03dknmq0)\n\nGorenstein previously served as chairman, president and CEO of Cronos until\nSeptember 2020, when he transitioned to the executive chairman role. In\naddition, he is a co-founder and passive member of Gotham Green Partners.\n\n\u201cI am excited to return as CEO and accelerate progress by leveraging the\ninnovative and daring approach that Cronos was built on,\u201d Gorenstein said. \u201cWe\npositioned Cronos to have the best tools to succeed in this market with our\nevolving asset-light supply chain, an organically growing brand in Canada,\ndifferentiated IP with a focus on rare cannabinoids, and one of the strongest\nbalance sheets in the industry. Now it is time to use those tools to deliver\nmeaningful shareholder value.\u201d\n\nGorenstein\u2019s immediate areas of focus include:\n\n * Delivering margin accretive growth focusing on adult-use product formats; \n * Continuing to drive rare cannabinoid development and commercialization strategy; \n * Cutting costs and focusing investments to the highest ROI opportunities, specifically \u201cborderless\u201d investments that can create incremental revenue as new markets come online; \n * Leading a successful transition from Peace Naturals Campus to a more agile supply chain; and \n * Positioning Cronos to win in the U.S. cannabis market. \n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\nRecommended\n\n[ ](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-\nsplit)\n\n##### [ Tilray Brands Announces Proposed Reverse Stock Split\n](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-split)\n\n[ ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n##### [ Tilray Brands Reports Quarterly Financial Results, Confirms No Tariff\nImpacts ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-\nresults-confirms-no-tariff-impacts)\n\n[ ](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n##### [ SNDL Reports Q4 and Full Year 2024 Financial and Operational Results\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ ](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n##### [ Ascend Wellness Reports $562 Million in 2024 Revenue\n](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\nRelated Stories\n\n[ ](/business-issues-benchmarks/finance/news/15692029/terrascend-exec-we-want-\nto-add-one-to-two-additional-states-over-the-next-six-to-12-months)\n\n##### [ TerrAscend Exec: \u2018We Want to Add One to Two Additional States Over\nthe Next Six to 12 Months\u2019 ](/business-issues-\nbenchmarks/finance/news/15692029/terrascend-exec-we-want-to-add-one-to-two-\nadditional-states-over-the-next-six-to-12-months)\n\n[ ](/business-issues-benchmarks/finance/news/15692011/alberta-officially-\nlaunches-online-cannabis-sales-delivery-in-private-sector)\n\n##### [ Alberta Officially Launches Online Cannabis Sales, Delivery in\nPrivate Sector ](/business-issues-benchmarks/finance/news/15692011/alberta-\nofficially-launches-online-cannabis-sales-delivery-in-private-sector)\n\n[ ](/business-issues-benchmarks/finance/news/15692435/biden-anti-cannabis-\nstock-policy-revealed-in-new-uncovering)\n\n##### [ Biden Anti-Cannabis Stock Policy Revealed in New Uncovering\n](/business-issues-benchmarks/finance/news/15692435/biden-anti-cannabis-stock-\npolicy-revealed-in-new-uncovering)\n\n[ ](/business-issues-benchmarks/finance/news/15692458/cannabis-conference-\nannounces-2022-education-program)\n\n##### [ Cannabis Conference Announces 2022 Education Program ](/business-\nissues-benchmarks/finance/news/15692458/cannabis-conference-\nannounces-2022-education-program)\n\nMore in Finance\n\n##### [ Tilray Brands Announces Proposed Reverse Stock Split\n](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-split)\n\n[ The global cannabis company also announced a corresponding special\nstockholders meeting. ](/finance/news/15743199/tilray-brands-announces-\nproposed-reverse-stock-split)\n\n[ ](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-\nsplit)\n\n##### [ Tilray Brands Reports Quarterly Financial Results, Confirms No Tariff\nImpacts ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-\nresults-confirms-no-tariff-impacts)\n\n[ The global cannabis company generated a net revenue of $186 million in the\nthird fiscal quarter, verifying it has no current impacts from U.S. tariffs.\n](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n[ ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n##### [ SNDL Reports Q4 and Full Year 2024 Financial and Operational Results\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ The company reported record full-year net revenue, gross profit and gross\nmargin, as well as positive cash flow and free cash flow.\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ ](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n##### [ Ascend Wellness Reports $562 Million in 2024 Revenue\n](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n[ The cannabis company also reported its second full year of positive cash\nfrom operations and positive free cash flow. ](/finance/news/15739806/ascend-\nwellness-reports-562m-revenue-in-cannabis-market)\n\n[ ](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n##### [ The Cannabist Co. Reports $459 Million in 2024 Revenue\n](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n[ The cannabis company continues to complete divestitures, reduce operating\nand overhead costs, and refine its inventory assortment.\n](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n[ ](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n##### [ Green Thumb Industries Announces $50 Million Share Repurchase Program\n](/business-issues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ The program authorizes the cannabis company to repurchase up to nearly 10.6\nmillion subordinate voting shares during the next 12 months. ](/business-\nissues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ ](/business-issues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ ](https://hubs.ly/Q03dknmq0)\n\n##### [ Green Thumb Industries Refinances Senior Debt, Closing on $150\nMillion Syndicated Credit Facility ](/business-issues-\nbenchmarks/finance/news/15686440/green-thumb-industries-refinances-senior-\ndebt-closing-on-150-million-syndicated-credit-facility)\n\n[ The cannabis company intends to use the proceeds along with existing cash to\nretire its $225 million senior secured debt. ](/business-issues-\nbenchmarks/finance/news/15686440/green-thumb-industries-refinances-senior-\ndebt-closing-on-150-million-syndicated-credit-facility)\n\n[ ](/business-issues-benchmarks/finance/news/15686440/green-thumb-industries-\nrefinances-senior-debt-closing-on-150-million-syndicated-credit-facility)\n\n##### [ Ascend Wellness Holdings Removes CEO, Terminates CFO ](/business-\nissues-benchmarks/finance/news/15686476/ascend-wellness-holdings-removes-ceo-\nterminates-cfo)\n\n[ The cannabis company appointed board Director Samuel Brill to replace John\nHartman as CEO. The company also appointed a new president and CFO.\n](/business-issues-benchmarks/finance/news/15686476/ascend-wellness-holdings-\nremoves-ceo-terminates-cfo)\n\n[ ](/business-issues-benchmarks/finance/news/15686476/ascend-wellness-\nholdings-removes-ceo-terminates-cfo)\n\n##### [ TerrAscend Offers $10 Million Share Repurchase Program ](/business-\nissues-benchmarks/finance/news/15686491/terrascend-offers-10-million-share-\nrepurchase-program)\n\n[ The company is authorized to repurchase up to 10 million shares but is not\nobligated to purchase any shares during the 12-month stock buyback program.\n](/business-issues-benchmarks/finance/news/15686491/terrascend-\noffers-10-million-share-repurchase-program)\n\n[ ](/business-issues-benchmarks/finance/news/15686491/terrascend-\noffers-10-million-share-repurchase-program)\n\n##### [ Curaleaf Reports $342 Million in Q2 Revenue ](/business-issues-\nbenchmarks/finance/news/15686512/curaleaf-reports-342-million-in-q2-revenue)\n\n[ The global cannabis company now operates in 15 countries. ](/business-\nissues-benchmarks/finance/news/15686512/curaleaf-reports-342-million-\nin-q2-revenue)\n\n[ ](/business-issues-benchmarks/finance/news/15686512/curaleaf-\nreports-342-million-in-q2-revenue)\n\n##### [ The Cannabist Co. Reports Second Quarter 2024 Financial Results\n](/business-issues-benchmarks/finance/news/15686514/the-cannabist-co-reports-\nsecond-quarter-2024-financial-results)\n\n[ The company reported $125 million in revenue for the period. ](/business-\nissues-benchmarks/finance/news/15686514/the-cannabist-co-reports-second-\nquarter-2024-financial-results)\n\n[ ](/business-issues-benchmarks/finance/news/15686514/the-cannabist-co-\nreports-second-quarter-2024-financial-results)\n\n##### [ Cresco Labs Determines IRS Section 280E Not Applicable to its\nBusiness ](/business-issues-benchmarks/finance/news/15686515/cresco-labs-\ndetermines-irs-section-280e-not-applicable-to-its-business)\n\n[ The company reported an improvement of more than 800 basis points year-over-\nyear in its adjusted EBITDA margin for the second quarter of 2024.\n](/business-issues-benchmarks/finance/news/15686515/cresco-labs-determines-\nirs-section-280e-not-applicable-to-its-business)\n\n[ ](/business-issues-benchmarks/finance/news/15686515/cresco-labs-determines-\nirs-section-280e-not-applicable-to-its-business)\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\nPage 1 of 183\n\n[ Next Page ](/business-issues-benchmarks/finance?page=2)\n\n[ ](/)\n\nFollow Cannabis Business Times\n\n[ ](https://www.facebook.com/canbusinesstimes \"Visit us on Facebook\") [\n](https://www.linkedin.com/company/cannabis-business-times \"Visit us on\nLinkedin\") [ ](https://twitter.com/CBTmag \"Visit us on Twitter\")\n\n[ \u00a9 2025 Transpire Media. All rights reserved.\n](https://www.transpiremedia.net)\n\n[ ](https://marketing.greentanktech.com/l/864572/2025-03-26/c6dqlf)\n\n",
"url": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
"reason": "Cannabis Business Times is a trade publication focused on the cannabis industry. The article explicitly mentions Cronos Group and the return of its founder as CEO, providing a reliable overview of the event.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group founder Mike Gorenstein returns as CEO, according to Cannabis Business Times.",
"url": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
{
"content": {
"metadata": {
"ext_id": "b06fdc3b-598a-4047-be46-bbba6be89ffb",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2019 Fourth Quarter and Full-Year Results\n\nMarch 30, 2020 16:02 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Completed Audit Committee Review and Restated Certain 2019 Unaudited Interim\nFinancial Statements_ \n\n_Expanded Canadian distribution to new provinces and product categories across\nthe adult-use market_\n\n_Established Cronos Fermentation, a critical step in advancing the production\nof cultured cannabinoids in partnership with Ginkgo Bioworks_\n\n_Enhanced research and development capabilities at the Peace Naturals Campus_\n\n_Advanced operational readiness of Cronos Israel with GAP and GMP\ncertifications_\n\nTORONTO, March 30, 2020 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos Group\u201d or the \u201cCompany\u201d), today announces its 2019 fourth\nquarter and full-year business results.\n\nThe Audit Committee of the Cronos Group Board of Directors has completed its\nreview of certain bulk resin purchases and sales of products through the\nwholesale channel. Following completion of the review, and on the\nrecommendation of the Audit Committee and advice from the Company\u2019s\nindependent auditor, KPMG LLP, the Board determined that Cronos Group will\nrestate its unaudited interim financial statements for the first, second and\nthird quarters of 2019. Accordingly, the Company reduced revenue for the three\nmonths ended March 31, 2019 by C$2.5 million and the three months ended\nSeptember 30, 2019 by C$5.1 million.\n\n\u201cWe are pleased that the Audit Committee has completed its review, and that\nCronos Group is now current with the filing of our financial reports. As we\nmove forward, we are committed to improving our internal controls and\nfinancial reporting practices, maintaining the highest standards of\ntransparency and accountability, and enhancing our capabilities and resources\nacross functions to support our strategy,\u201d said Mike Gorenstein, CEO of Cronos\nGroup.\n\n\u201cCronos Group ended 2019 with a strong foundation and balance sheet, and a\nclear focus on achieving our core strategic initiatives to drive long-term,\nsustainable growth. Importantly, we expanded our Canadian distribution\nfootprint, broadened our brand portfolio, enhanced our global supply chain\ncapabilities and advanced our breakthrough intellectual property and research\nand development initiatives. While the world currently faces an unprecedented\ntime of uncertainty related to COVID-19, we believe we are well-positioned to\nbuild on these accomplishments as we maintain our investments in brands and\nproducts that will resonate with adult consumers and generate sustainable,\nlong-term value for shareholders.\u201d\n\n**_Financial Results_ **\n\n_(in thousands of USD)_ | | **Three months December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \n**Net revenue** | | | | | | | | | | | | | | | | \nUnited States | | $ | 2,693 | | | $ | \u2014 | | | $ | 2,693 | | | N/A | | $ | 3,364 | | | $ | \u2014 | | | $ | 3,364 | | | N/A \nRest of World | | 4,615 | | | 4,285 | | | 330 | | | 8 | % | | 20,386 | | | 12,121 | | | 8,265 | | | 68 | % \nConsolidated net revenue | | 7,308 | | | 4,285 | | | 3,023 | | | 71 | % | | 23,750 | | | 12,121 | | | 11,629 | | | 96 | % \n| | | | | | | | | | | | | | | | \nGross profit (loss) | | (20,375 | ) | | 1,880 | | | (22,255 | ) | | (1184 | )% | | (17,864 | ) | | 6,213 | | | (24,077 | ) | | (388 | )% \nGross margin | | (279 | )% | | 44 | % | | \u2014 | | | (323)pp | | (75 | )% | | 51 | % | | \u2014 | | | (126)pp \n| | | | | | | | | | | | | | | | \nReported operating loss | | $ | (63,869 | ) | | $ | (8,871 | ) | | $ | (54,998 | ) | | 620 | % | | $ | (121,484 | ) | | $ | (21,341 | ) | | $ | (100,143 | ) | | 469 | % \nAdjusted operating loss (i) | | (56,601 | ) | | (8,871 | ) | | (47,730 | ) | | 538 | % | | (114,216 | ) | | (21,341 | ) | | (92,875 | ) | | 435 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents | | | | | | | | | | 1,199,693 | | | 23,927 | | | 1,175,766 | | | 4914 | % \nShort-term investments | | | | | | | | | | 306,347 | | | \u2014 | | | 306,347 | | | N/A \nCapital expenditures | | 757 | | | 32,676 | | | (31,919 | ) | | (98 | )% | | 38,953 | | | 88,586 | | | (49,633 | ) | | (56 | )% \n \n_ (i) See \u201cNon-GAAP Measures\u201d for more information, including a reconciliation\nof adjusted operating loss \n_ _ (ii) Dollar amounts are as of the last day of the period indicated _\n\n**Fourth Quarter 2019**\n\n * Net revenue of $7.3 million in Q4 2019 increased by $3.0 million from Q4 2018, primarily driven by an increase in the volume of products sold in the Rest of World segment and the Redwood acquisition, partially offset by a decrease in the price of products sold in the Rest of World segment. \n * Gross profit (loss) of ($20.4) million in Q4 2019 decreased by $22.3 million from Q4 2018, primarily driven by the inventory write-down of $24.0 million. \n * The Company incurred an inventory write-down of $24.0 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $22.1 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-down, gross profit in Q4 2019, would have been $3.6 million, representing a gross margin of 50%. We anticipate inventory write-downs in the short-term due to pricing pressures in the marketplace and while the Company executes its operational repurposing of the Peace Naturals Campus. \n * Reported operating loss of ($63.9) million in Q4 2019 increased by $55.0 million from Q4 2018, primarily driven by the inventory write-down in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($56.6) million in Q4 2019 increased by $47.8 million from Q4 2018, primarily driven by inventory write-downs in Q4 2019 and an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**Full-Year 2019**\n\n * Net revenue of $23.8 million in Full-Year 2019 increased by $11.6 million from Full-Year 2018, primarily driven by an increase in the volume of sales in the Rest of World Segment due to increases in production, increases in the volume of wholesale sales and the launch of the adult-use market in Canada. \n * Gross profit (loss) of ($17.9) million in Full-Year 2019 decreased by $24.1 million from Full-Year 2018, primarily driven by the inventory write-down of $29.4 million. \n * The Company incurred an inventory write-down of $29.4 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $27.5 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-downs, gross profit in Full-Year 2019, would have been $11.6 million, representing a gross margin of 49%. \n * Reported operating loss of ($121.5) million in Full-Year 2019 increased by $100.1 million from Full-Year 2018, primarily driven by inventory write-downs in Full-Year 2019, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs related to the Company\u2019s two research partnerships and one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus. \n * Adjusted operating loss of ($114.2) million in Full-Year 2019 increased by $92.9 million from Full-Year 2018, primarily driven by inventory write-downs in Full-Year 2019, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs related to the Company\u2019s two research partnerships. \n\n**_Business Updates_ **\n\n**Brand Portfolio**\n\nIn December 2019, Cronos Group launched cannabis vaporizer devices for the\nCanadian adult-use market under the COVE\u2122 and Spinach\u2122 brands. In conjunction\nwith this launch, the Company created new, tailored 510 thread vaporizer\nproduct lines for the COVE\u2122 and Spinach\u2122 brands, including cartridges that are\ntamper resistant, made from high-quality stainless-steel components and food\ngrade silicone and have rechargeable draw batteries to prevent overheating.\nThe formulations use premium cannabis extract and come in all-natural terpene-\nrich flavors. The vaporizer products are currently available at cannabis\ncontrol authorities in Ontario, British Columbia, Manitoba, New Brunswick, and\nNova Scotia, as well as from private-sector retailers in Saskatchewan.\n\nIn the fourth quarter, we successfully executed three holiday pop-up shops in\nLos Angeles and New York City to provide consumers with a curated retail\nexperience of its Lord Jones\u2122 products.\n\nCronos Group made the decision to pause distribution of PEACE+\u2122 hemp-derived\nCBD tinctures through Altria Group. Inc.\u2019s (\u201cAltria\u201d) sales and distribution\nnetwork. Cronos Group remains focused on meeting the demands of adult\nconsumers and will continue to evaluate other product formats and categories\nthat we believe may be more suitable for the PEACE+ TM brand in the evolving\nenvironment.\n\n**Global Sales and Distribution**\n\nIn the fourth quarter, Cronos Group began selling cannabis flower and extract\nproducts to cannabis control authorities in Alberta, Manitoba, and Quebec. In\naddition to the new territories, the Company sells dried flower, pre-rolls,\ncannabis oils and cannabis extracts through its adult-use brands, COVE\u2122 and\nSpinach\u2122, to cannabis control authorities in Ontario, British Columbia, Nova\nScotia and Prince Edward Island, as well as to private-sector retailers in\nSaskatchewan.\n\nOn October 25, 2019, Cronos Australia announced the closing of an A$20.0\nmillion initial public offering. Cronos Group currently holds approximately 31\npercent of the issued capital of Cronos Australia. With the initial public\noffering complete, Cronos Group is positioned to continue participating in\nCronos Australia\u2019s growth in the medicinal market in the Asia-Pacific region\nwhile generating value for the Company\u2019s shareholders.\n\nIn the fourth quarter of 2019, Cronos Group completed its first test export of\nPEACE NATURALS\u2122 branded cannabis oil products to Cronos Australia for\ndistribution to the Australian medical market.\n\n**Global Supply Chain**\n\nIn November 2019, Cronos Group began an operational redesign at the Peace\nNaturals Campus to better align the business with our strategic priorities. As\npart of this effort, specific facilities at the Peace Naturals Campus are in\nthe process of being repurposed from cultivation to R&D, with a focus on\ndeveloping new technologies for value-added product manufacturing, and\nproduction of derivative products. This redesign will also increase vault and\nwarehousing capabilities at the facility.\n\nIn the fourth quarter of 2019, the Company recorded pre-tax charges of $7.2\nmillion related to the repurposing efforts at the Peace Naturals Campus, with\n$1.9 million associated with an inventory write-down and $5.3 million of\noperating expenses, primarily related to impairment costs. The Company does\nnot expect to incur any further significant costs related to the repurposing\nactivities.\n\nThe Cronos Israel facility continues to move closer to operational readiness.\nConstruction of Cronos Israel\u2019s greenhouse and facility was completed in the\nthird quarter of 2019. In December 2019, Cronos Israel successfully achieved\nGAP certification for propagation and cultivation, as well as GMP\ncertification for the manufacturing and production facilities. Commencement of\noperations at the Cronos Israel facility will be subject to obtaining the\nremaining necessary cannabis production licenses under applicable law.\n\n**Intellectual Property Initiatives**\n\nGinkgo Bioworks (\u201cGinkgo\u201d) has filed certain patent applications pertaining to\nbiosynthesis of cannabinoids to protect intellectual property developed as\npart of the research progressing under the partnership with Cronos Group.\nUnder the partnership, Cronos Group is the exclusive licensee of the\nintellectual property covered by the patent applications for the target\ncannabinoids.\n\nIn July 2019, Cronos Group acquired a GMP compliant fermentation and\nmanufacturing facility (\u201cCronos Fermentation\u201d) in Winnipeg, Manitoba. The\nacquisition is expected to provide the fermentation and manufacturing\ncapabilities needed in order to capitalize on the progress underway with\nGinkgo by enabling Cronos Group to produce high-quality cannabinoids at scale\nusing fermentation. In November 2019, a team of engineers, scientists,\nproduction and quality assurance personnel previously employed by Apotex\nFermentation Inc., joined Cronos Group.\n\nCronos Group commenced work on developing scale-up and downstream processes at\nCronos Fermentation, while in parallel Ginkgo develops microorganisms for\nproducing cultured cannabinoids. As Cronos Group develops the processes and\nparameters, these learnings will be applied for the strains that will be\nutilized for commercial production of cultured cannabinoids. Commercial\nproduction at the facility is subject to completion of the equipment alignment\nfor cannabinoid-based production, the receipt of the appropriate licenses from\nHealth Canada and the achievement of the relevant milestones under the Ginkgo\nStrategic Partnership.\n\n**Update on COVID-19**\n\nDespite the significant challenges posed by the outbreak of COVID-19, as a\ndesignated essential business, Cronos Group\u2019s global facilities currently\nremain operational. During this unprecedented time, the health, safety and\nwell-being of our employees and our consumers remains Cronos Group\u2019s top\npriority. The Company has business continuity plans in place to support its\nemployee base while continuing to develop and produce reliable, high-quality\nproducts that meet the needs of consumers. As part of this, the Company\nimplemented certain measures such as, among other measures, work-from-home\npolicies for certain employees, enhanced hygiene and sanitation practices,\nmodified schedules and social distancing protocols at the Peace Naturals\nCampus, Redwood, Cronos Fermentation, OGBC and Cronos Israel facilities.\nCronos Group will continue to act in accordance with guidance from local,\nfederal and international health and governmental authorities, and is prepared\nto make additional operational adjustments as necessary.\n\nThe spread and impact from COVID-19 on the global economy continues to rapidly\nevolve, and the ultimate impact of the COVID-19 outbreak is uncertain and\nsubject to change. Despite Cronos Group\u2019s business continuity efforts, the\nCompany may see an impact on certain parts of its business and operations such\nas operational capacity or supply chain delays. The Company continues to\nclosely monitor the rapidly evolving COVID-19 situation, and the impact it may\nhave on the Company, its customers and its supply chain.\n\n**_Rest of World Results_ **\n\nCronos Group\u2019s Rest of World reporting segment includes results of the\nCompany\u2019s operations for all markets outside of the United States of America.\nCronos Group owns and operates license holders, Peace Naturals and OGBC, and\ncurrently sells dried flower, pre-rolls and cannabis extracts in the Canadian\nadult-use and medical markets. The Company established strategic joint\nventures in Canada, Israel and Colombia. Cronos Group currently exports\ncannabis products to countries that permit the import of such products, such\nas Germany and Australia.\n\n_(in thousands of USD )_ | **Three months December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|--- \n| **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \nCannabis flower | $ | 2,877 | | | $ | 3,228 | | | $ | (351 | ) | | (11 | )% | | $ | 15,020 | | | $ | 9,210 | | | $ | 5,810 | | | 63 | % \nCannabis extracts | 1,678 | | | 1,028 | | | 650 | | | 63 | % | | 5,338 | | | 2,732 | | | 2,606 | | | 95 | % \nOther | 60 | | | 29 | | | 31 | | | 107 | % | | 28 | | | 179 | | | (151 | ) | | (84 | )% \nNet revenue | 4,615 | | | 4,285 | | | 330 | | | 8 | % | | 20,386 | | | 12,121 | | | 8,265 | | | 68 | % \n| | | | | | | | | | | | | | | \nGross profit | (21,805 | ) | | 1,880 | | | (23,685 | ) | | (1,260 | )% | | (19,737 | ) | | 6,213 | | | (25,950 | ) | | (418 | )% \nGross margin | (472 | )% | | 44 | % | | \u2014 | | | (516)pp | | (97 | )% | | 51 | % | | \u2014 | | | (148)pp \n| | | | | | | | | | | | | | | \nReported operating loss | $ | (59,066 | ) | | $ | (8,871 | ) | | $ | (50,195 | ) | | 566 | % | | $ | (106,928 | ) | | $ | (21,341 | ) | | $ | (85,587 | ) | | 401 | % \nAdjusted operating loss (i) | (51,798 | ) | | (8,871 | ) | | (42,927 | ) | | 484 | % | | (99,660 | ) | | (21,341 | ) | | (78,319 | ) | | 367 | % \n \n(i) _ See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted operating loss _\n\n**Fourth Quarter 2019** \n\n * Net revenue of $4.6 million in Q4 2019 increased by $0.3 million from Q4 2018, primarily driven by the introduction of vaporizer products and an increase in the volume of products sold, which were partially offset by a decrease in the price of products sold. \n * Gross profit (loss) of ($21.8) million in Q4 2019 decreased by $23.7 million from Q4 2018, primarily driven by the inventory write-down of $24.0 million. \n * The Company incurred an inventory write-down of $24.0 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $22.1 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-down, gross profit in Q4 2019, would have been $2.2 million, representing a gross margin of 48%. We anticipate inventory write-downs in the short-term due to pricing pressures in the marketplace and while the Company executes its operational repurposing of the Peace Naturals Campus. \n * Reported operating loss of ($59.1) million in Q4 2019 increased by $50.2 million from Q4 2018, primarily driven by the inventory write-down in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($51.8) million in Q4 2019 increased by $42.9 million from Q4 2018, primarily driven by inventory write-downs in Q4 2019 and an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**Full-Year 2019**\n\n * Net revenues of $20.4 million in Full-Year 2019 increased by $8.3 million from Full-Year 2018, primarily driven by higher volume of wholesale sales and an increase in the volume of products sold due to increased cannabis production and the growth of the adult-use market in Canada. \n * Gross profit (loss) of ($19.7) million in Full-Year 2019 decreased by $26.0 million from Full-Year 2018, primarily driven by the inventory write-down of $29.4 million. \n * The Company incurred an inventory write-down of $29.4 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $27.5 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-downs, gross profit in Full-Year 2019, would have been $9.7 million, representing a gross margin of 48%. \n * Reported operating loss of ($106.9) million in Full-Year 2019 increased $85.6 million from Full-Year 2018, primarily driven by inventory write-downs in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($99.7) million in Full-Year 2019 increased by $78.3 million from Full-Year 2018, primarily driven by inventory write-downs in Q4 2019, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**_United States Results_ **\n\nAs a result of Cronos Group\u2019s acquisition of Redwood on September 5, 2019, a\nmanufacturer and distributor of hemp-derived CBD infused products in the\nUnited States under the brand, Lord Jones\u2122, the Company established the United\nStates reporting segment.\n\n_(in thousands of USD)_ | **Three months December 31** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|--- \n| **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \nNet revenue | $ | 2,693 | | | \u2014 | | | N/A | | N/A | | $ | 3,364 | | | \u2014 | | | N/A | | N/A \n| | | | | | | | | | | | | | | \nGross profit | 1,430 | | | \u2014 | | | N/A | | N/A | | 1,873 | | | \u2014 | | | N/A | | N/A \nGross margin | 53 | % | | \u2014 | | | N/A | | N/A | | 56 | % | | \u2014 | | | N/A | | N/A \n| | | | | | | | | | | | | | | \nReported operating loss | $ | (1,797 | ) | | \u2014 | | | N/A | | N/A | | $ | (2,777 | ) | | \u2014 | | | N/A | | N/A \n \n**Fourth Quarter 2019**\n\n * Net revenues of $2.7 million in Q4 2019, driven by expanded distribution of Lord Jones TM branded products through online sales and an increased retail channel footprint. \n * Gross profit of $1.4 million in Q4 2019, driven by strong sales prices and brand equity. Gross margin for Q4 2019 was 53%. \n * Operating loss of ($1.8) million in Q4 2019, driven by increased investments in sales and marketing and general and administrative expenses as the business focuses on growth prospects and developing new brands and products. \n\n**Full-Year 2019**\n\n * Net revenue of $3.4 million in Full-Year 2019, driven by the Redwood Acquisition on September 5, 2019. \n * Gross profit of $1.9 million in Full-Year 2019, driven by sales through e-commerce, retail and hospitality channels within Q4 2019. Gross margin in Full-Year 2019 was 56%. \n * Operating loss of $2.8 million in Full-Year 2019, driven by the increase in gross profit and the increased sales and marketing costs incurred in relation to the preparation for the launch of the PEACE+\u2122 U.S hemp-derived CBD brand, as well as the introduction of several new U.S. hemp-derived CBD products under the Lord Jones\u2122 brand. \n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Monday,\nMarch 30, 2020 at 5:30 p.m. EDT to discuss 2019 fourth quarter and full-year\nresults, the Company's outlook and other matters. The call will last\napproximately one hour. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the conference call are\nprovided below:\n\n * _Live audio webcast:_[ https://ir.thecronosgroup.com/events-presentations ](https://ir.thecronosgroup.com/events-presentations) _ _\n * _Toll Free from the U.S. and Canada dial-in: (866) 795-2258_\n * _International dial-in: (409) 937-8902_\n * _Conference ID: 6999389_\n\n**About Cronos Group**\n\nCronos Group is an innovative global cannabinoid company with international\nproduction and distribution across five continents. Cronos Group is committed\nto building disruptive intellectual property by advancing cannabis research,\ntechnology and product development. With a passion to responsibly elevate the\nconsumer experience, Cronos Group is building an iconic brand portfolio.\nCronos Group\u2019s portfolio includes [ _PEACE NATURALS_\n](https://www.peacenaturals.com/) \u2122, a global health and wellness platform,\ntwo adult-use brands, [ _COVE_ ](https://covecannabis.ca/) \u2122 and [ _Spinach_\n](https://spinachcannabis.com/) \u2122, and two hemp-derived CBD brands, [ _Lord\nJones_ ](https://lordjones.com/) \u2122 and [ _PEACE+_\n](https://www.peaceplus.com/) \u2122. For more information about Cronos Group and\nits brands, please visit: _[ www.thecronosgroup.com\n](http://www.thecronosgroup.com \"www.thecronosgroup.com\") _ .\n\n**Forward-looking statements**\n\nThis press release may contain information that may constitute forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws (collectively, \u201cForward-Looking Statements\u201d), which are based\nupon our current internal expectations, estimates, projections, assumptions\nand beliefs. All information that is not clearly historical in nature may\nconstitute Forward-Looking Statements. In some cases, Forward-Looking\nStatements can be identified by the use of forward-looking terminology such as\n\u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d, \u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d,\n\u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and other similar words, expressions and\nphrases, including negative and grammatical variations thereof, or statements\nthat certain events or conditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of\nstrategy. Forward-Looking Statements include estimates, plans, expectations,\nopinions, forecasts, projections, targets, guidance or other statements that\nare not statements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the uncertainties associated with the COVID-19 pandemic, including our ability to continue operations, the ability of our suppliers and distribution channels to continue to operate, and the use of our products by consumers; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof including uncertainty regarding the application of United States (\u201cU.S.\u201d) state and federal law to U.S. hemp (including CBD) products and the scope of any regulations by the U.S. Federal Drug Administration (the \u201cFDA\u201d), the U.S. Federal Trade Commission (the \u201cFTC\u201d), the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over U.S. hemp (including CBD) products; \n * expectations regarding the regulation of the U.S. hemp industry in the U.S., including the promulgation of regulations for the U.S. hemp industry by the U.S. Department of Agriculture (the \u201cUSDA\u201d); \n * the grant, renewal and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our international activities and joint venture interests, including required regulatory approvals and licensing, anticipated costs and timing, and expected impact; \n * the ability to successfully create and launch brands and further create, launch and scale U.S. hemp-derived consumer products, including through the Redwood Acquisition (as defined herein) and cannabis products in jurisdictions where such products are legal and that we currently operate in; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis including CBD and other cannabinoids; \n * the anticipated benefits and impact of the Altria Group Inc.\u2019s C$2.4 billion (approximately $1.8 billion) investment in us (the \u201cAltria Investment\u201d); \n * the potential exercise of the warrant held by Altria Group Inc., pre-emptive rights and/or top-up rights in connection with the Altria Investment, including proceeds to us that may result therefrom; \n * expectations regarding the use of proceeds of equity financings, including the proceeds from the Altria Investment; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments, including the strategic partnership with Ginkgo Bioworks, Inc.; \n * our ability to execute on our strategy and the anticipated benefits of such strategy; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the future performance of our business and operations; \n * our competitive advantages and business strategies; \n * the competitive conditions of the industry; \n * the expected growth in the number of customers using our products; \n * our ability or plans to identify, develop, commercialize or expand our technology and research and development (\u201cR&D\u201d) initiatives in cannabinoids, or the success thereof; \n * expectations regarding acquisitions and the anticipated benefits therefrom, including the Redwood Acquisition and the acquisition of certain assets from Apotex Fermentation Inc.; \n * expectations regarding revenues, expenses and anticipated cash needs; \n * expectations regarding cash flow, liquidity and sources of funding; \n * expectations regarding capital expenditures; \n * the expansion of our production and manufacturing, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the expected growth in our growing, production and supply chain capacities; \n * expectations regarding the resolution of litigation and other legal proceedings; \n * expectations with respect to future production costs; \n * expectations with respect to future sales and distribution channels; \n * the expected methods to be used to distribute and sell our products; \n * our future product offerings; \n * the anticipated future gross margins of our operations; \n * accounting standards and estimates; \n * expectations regarding our distribution network; and \n * expectations regarding the costs and benefits associated with our contracts and agreements with third parties, including under our third-party supply and manufacturing agreements. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; (ii) our ability\nto generate cash flow from operations; (iii) general economic, financial\nmarket, regulatory and political conditions in which we operate; (iv) the\nproduction and manufacturing capabilities and output from our facilities and\nour joint ventures, strategic alliances and equity investments; (v) consumer\ninterest in our products; (vi) competition; (vii) anticipated and\nunanticipated costs; (viii) government regulation of our activities and\nproducts including but not limited to the areas of taxation and environmental\nprotection; (ix) the timely receipt of any required regulatory authorizations,\napprovals, consents, permits and/or licenses; (x) our ability to obtain\nqualified staff, equipment and services in a timely and cost-efficient manner;\n(xi) our ability to conduct operations in a safe, efficient and effective\nmanner; (xii) our ability to realize anticipated benefits, synergies or\ngenerate revenue, profits or value from our recent acquisitions into our\nexisting operations; (xiii) our ability to continue to operate in light of the\nCOVID-19 pandemic and the impact of the pandemic on sales of our products and\nour distribution channels; and (xiv) other considerations that management\nbelieves to be appropriate in the circumstances. While our management\nconsiders these assumptions to be reasonable based on information currently\navailable to management, there is no assurance that such expectations will\nprove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, the risk that the\nCOVID-19 pandemic may disrupt our operations and those of our suppliers and\ndistribution channels and negatively impact the use of our products; that cost\nsavings and any other synergies from the Altria Investment may not be fully\nrealized or may take longer to realize than expected; disruption from the\nAltria Investment making it more difficult to maintain relationships with\ncustomers, employees or suppliers; future levels of revenues; consumer demand\nfor cannabis and U.S. hemp products; our ability to manage disruptions in\ncredit markets or changes to our credit rating; future levels of capital,\nenvironmental or maintenance expenditures, general and administrative and\nother expenses; the success or timing of completion of ongoing or anticipated\ncapital or maintenance projects; business strategies, growth opportunities and\nexpected investment; the adequacy of our capital resources and liquidity,\nincluding but not limited to, availability of sufficient cash flow to execute\nour business plan (either within the expected timeframe or at all); the\npotential effects of judicial or other proceedings on our business, financial\ncondition, results of operations and cash flows; volatility in and/or\ndegradation of general economic, market, industry or business conditions;\ncompliance with applicable environmental, economic, health and safety, energy\nand other policies and regulations and in particular health concerns with\nrespect to vaping and the use of cannabis and U.S. hemp products in vaping\ndevices; the anticipated effects of actions of third parties such as\ncompetitors, activist investors or federal (including U.S. federal), state,\nprovincial, territorial or local regulatory authorities, self-regulatory\norganizations, plaintiffs in litigation or persons threatening litigation;\nchanges in regulatory requirements in relation to our business and products;\nand the factors discussed under the heading \u201cRisk Factors\u201d in this press\nrelease. Readers are cautioned to consider these and other factors,\nuncertainties and potential events carefully and not to put undue reliance on\nForward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as at and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned that the Forward-Looking Statements may not be\nappropriate for any other purpose. While we believe that the assumptions and\nexpectations reflected in the Forward-Looking Statements are reasonable based\non information currently available to management, there is no assurance that\nsuch assumptions and expectations will prove to have been correct. Forward-\nLooking Statements are made as of the date they are made and are based on the\nbeliefs, estimates, expectations and opinions of management on that date. We\nundertake no obligation to update or revise any Forward-Looking Statements,\nwhether as a result of new information, estimates or opinions, future events\nor results or otherwise or to explain any material difference between\nsubsequent actual events and such Forward-Looking Statements. The Forward-\nLooking Statements contained in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf are expressly qualified in their entirety by these cautionary\nstatements.\n\n**Use of Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with accounting\nprinciples generally recognized in the United States (\u201cGAAP\u201d). However,\nmanagement use various measures which are not recognized under GAAP such as\nadjusted operating loss, adjusted operating loss by business segment and\nadjusted earnings before interest, tax depreciation and amortization\n(\u201cAdjusted EBITDA\u201d). These non-GAAP measures may not be calculated the same as\nsimilarly titled measures used by other companies and should thus be\nconsidered as supplemental in nature and not considered in isolation or as a\nsubstitute for the related financial information prepared in accordance with\nGAAP. Management believes these measures provide useful insight into\nunderlying trends and results and will provide a more meaningful comparison of\nyear-over-year results, going forward. Management uses these metrics for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources. Reconciliations of each non-GAAP measure to US\nGAAP recognized measures are provided below. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n**As of December 31, 2019 and 2018** \n_(In thousands of USD)_\n\n| **As of December 31,** \n---|--- \n| **2019** | | **2018** \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 1,199,693 | | | $ | 23,927 | \nShort-term investments | 306,347 | | | \u2014 | \nAccounts receivable, net of current expected credit loss (\"CECL\") of $136 and $37 as of December 31, 2019 and 2018, respectively | 4,638 | | | 3,052 | \nOther receivables | 7,232 | | | 2,507 | \nCurrent portion of loans receivable | 4,664 | | | 230 | \nPrepaids and other assets | 9,395 | | | 2,842 | \nInventory | 38,043 | | | 7,386 | \nTotal current assets | 1,570,012 | | | 39,944 | \nInvestments in equity accounted investees | 557 | | | 2,960 | \nAdvances to joint ventures | 19,437 | | | 4,689 | \nOther investments | \u2014 | | | 297 | \nLoan receivable | 44,967 | | | \u2014 | \nProperty, plant and equipment | 161,809 | | | 125,905 | \nRight-of-use assets | 6,546 | | | 125 | \nIntangible assets | 72,320 | | | 8,237 | \nGoodwill | 214,794 | | | 1,314 | \n**Total assets** | $ | 2,090,442 | | | $ | 183,471 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable and other liabilities | $ | 35,301 | | | $ | 33,239 | \nCurrent portion of lease obligation | 427 | | | 30 | \nDerivative liabilities (Note 28) | 297,160 | | | \u2014 | \nTotal current liabilities | 332,888 | | | 33,269 | \nDue to non-controlling interests | 1,844 | | | 1,566 | \nLease obligation | 6,680 | | | 87 | \n**Total liabilities** | 341,412 | | | 34,922 | \nCommitments and contingencies (Note 21 & 22) | | | \n**Shareholders\u2019 equity** | | | \nShare capital (authorized: 2019 and 2018 \u2013 unlimited; issued: 2019 \u2013 348,817,472; 2018 \u2013 178,720,022) | 561,165 | | | 175,001 | \nAdditional paid-in capital | 23,234 | | | 11,263 | \nRetained earnings (accumulated deficit) | 1,137,646 | | | (27,945 | \nAccumulated other comprehensive income (loss) | 27,838 | | | (9,870 | \nTotal equity attributable to shareholders of Cronos Group | 1,749,883 | | | 148,449 | \nNon-controlling interests | (853 | ) | | 100 | \n**Total shareholders' equity** | 1,749,030 | | | 148,549 | \n**Total liabilities and shareholders' equity** | $ | 2,090,442 | | | $ | 183,471 | \n \nSee notes to consolidated financial statements. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n**For the years ended December 31, 2019, 2018, and 2017** \n_(In thousands of USD, except share and per share amounts)_\n\n| **Year ended December 31,** \n---|--- \n| **2019** | | **2018** | | **2017** \n**Net revenue, before excise taxes** | $ | 25,639 | | | $ | 13,234 | | | $ | 3,147 | \nExcise taxes | (1,889 | ) | | (1,113 | ) | | \u2014 | \n**Net revenue** | 23,750 | | | 12,121 | | | 3,147 | \nCost of sales | 12,174 | | | 5,908 | | | 1,573 | \nInventory write-down | 29,440 | | | \u2014 | | | \u2014 | \n**Gross profit (loss)** | (17,864 | ) | | 6,213 | | | 1,574 | \n**Operating expenses** | | | | | \nSales and marketing | 23,045 | | | 3,173 | | | 443 | \nResearch and development | 12,155 | | | 1,814 | | | \u2014 | \nGeneral and administrative | 49,372 | | | 13,447 | | | 4,904 | \nShare-based payments | 11,619 | | | 8,151 | | | 1,931 | \nDepreciation and amortization | 2,101 | | | 969 | | | 417 | \nRepurposing charges | 5,328 | | | \u2014 | | | \u2014 | \nTotal operating expenses | 103,620 | | | 27,554 | | | 7,695 | \n**Operating loss** | (121,484 | ) | | (21,341 | ) | | (6,121 | ) \n**Other income (expense)** | | | | | \nInterest income (expense) | 27,982 | | | 83 | | | (97 | ) \nFinancing and transaction costs | (32,208 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of derivative liabilities (Note 28) | 1,276,819 | | | \u2014 | | | \u2014 | \nGain on revaluation of financial liabilities | 197 | | | \u2014 | | | \u2014 | \nGain on disposal of Whistler | 15,530 | | | \u2014 | | | \u2014 | \nGain on other investments | 747 | | | 164 | | | 3,746 | \nShare of income (loss) from investments in equity accounted investees | (2,009 | ) | | (723 | ) | | 127 | \nTotal other income (expense) | 1,287,058 | | | (476 | ) | | 3,776 | \nIncome (loss) before income taxes | 1,165,574 | | | (21,817 | ) | | (2,345 | ) \nIncome tax recovery | \u2014 | | | \u2014 | | | (862 | ) \n**Net income (loss)** | $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Net income (loss) attributable to:** | | | | | \nCronos Group | $ | 1,166,506 | | | $ | (21,636 | ) | | $ | (1,483 | ) \nNon-controlling interests | (932 | ) | | (181 | ) | | 0 | \n| $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Other comprehensive income (loss)** | | | | | \nForeign exchange gain (loss) on translation | $ | 37,687 | | | $ | (12,337 | ) | | $ | 2,456 | \nGain on revaluation and disposal of other investments, net of tax | \u2014 | | | 3 | | | 415 | \nUnrealized gains reclassified to net income | \u2014 | | | \u2014 | | | (12 | ) \nTotal other comprehensive income (loss) | 37,687 | | | (12,334 | ) | | 2,859 | \n**Comprehensive income (loss)** | $ | 1,203,261 | | | $ | (34,151 | ) | | $ | 1,376 | \n**Comprehensive income (loss) attributable to:** | | | | | \nCronos Group | $ | 1,204,214 | | | $ | (33,964 | ) | | $ | 1,376 | \nNon-controlling interests | (953 | ) | | (187 | ) | | \u2014 | \n| $ | 1,203,261 | | | $ | (34,151 | ) | | $ | 1,376 | \n**Net income (loss) per share** | | | | | \nBasic | $ | 3.76 | | | $ | (0.13 | ) | | $ | (0.01 | ) \nDiluted | 3.33 | | | (0.13 | ) | | (0.01 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | 310,067,179 | | | 172,269,170 | | | 134,803,542 | \nDiluted | 342,811,992 | | | 172,269,170 | | | 176,789,161 | \n \nSee notes to consolidated financial statements.\n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n**For the quarters ended December 31, 2019 and 2018** \n_(In thousands of USD, except share and per share amounts)_\n\n| | **Three months ended December 31,** \n---|---|--- \n| | **2019** | | **2018** \n**Net revenue, before excise taxes** | $ | 7,915 | | | 5,398 | \nExcise taxes | | (607 | ) | | (1,113 | ) \n**Net revenue** | | 7,308 | | | 4,285 | \nCost of sales | | 3,667 | | | 2,405 | \nInventory write-down | | 24,016 | | | \u2014 | \n**Gross profit** | | (20,375 | ) | | 1,880 | \n**Operating expenses** | | | | \nSales and marketing | | 13,324 | | | 1,970 | \nResearch and development | | 6,079 | | | 1,814 | \nGeneral and administrative | | 14,314 | | | 4,544 | \nShare-based payments | | 3,670 | | | 2,183 | \nDepreciation and amortization | | 779 | | | 240 | \nRepurposing costs | | 5,328 | | | \u2014 | \nTotal operating expenses | | 43,494 | | | 10,751 | \n**Operating loss** | | (63,869 | ) | | (8,871 | ) \n**Other income (expense)** | | | | \nInterest income (expense) | | 7,514 | | | 177 | \nFinancing and transaction cost | | (524 | ) | | \u2014 | \nGain (loss) on revaluation of derivative liabilities (Note 11) | | 118,811 | | | \u2014 | \nGain on other investments | | 2 | | | (225 | ) \nGain on disposal of Whistler Medical Marijuana Company | | 32 | | | (15 | ) \nShare of income (loss) from investments in equity accounted investees | | (505 | ) | | (758 | ) \nGain (loss) on revaluation of financial liabilities | | 50 | | | \u2014 | \nTotal other income (expense) | | 125,380 | | | (821 | ) \nIncome (loss) before income taxes | | 61,511 | | | (9,692 | ) \nIncome tax recovery | | 58 | | | \u2014 | \n**Net income (loss)** | | 61,569 | | | (9,692 | ) \n**Net income (loss) attributable to:** | | | | \nCronos Group | $ | 62,005 | | | (9,558 | ) \nNon-controlling interests | | (436 | ) | | (134 | ) \n| $ | 61,569 | | | (9,692 | ) \n**Other comprehensive income (loss)** | | | | \nForeign exchange gain (loss) on translation | $ | 28,264 | | | (8,511 | ) \nGain on revaluation and disposal of other investments, net of tax | | \u2014 | | | 3 | \nTotal other comprehensive income (loss) | $ | 28,264 | | | (8,508 | ) \n**Comprehensive income (loss)** | | | | \n**Comprehensive income (loss) attributable to:** | | | | \nCronos Group | $ | 90,284 | | | (18,056 | ) \nNon-controlling interests | | (451 | ) | | (144 | ) \n| $ | 89,833 | | | (18,200 | ) \n**Net income (loss) per share** | | | | \nBasic | | $ | 0.18 | | | $ | (0.05 | ) \nDiluted | | 0.16 | | | (0.05 | ) \n**Weighted average number of outstanding shares** | | | | \nBasic | | 345,981,864 | | | 178,720,022 | \nDiluted | | 375,318,457 | | | 178,720,022 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n**For the years ended December 31, 2019, 2018, and 2017** \n_(In thousands of USD)_\n\n| | **Year ended December 31,** \n---|---|--- \n| **2019** | | **2018** | | **2017** \n**Operating activities** | | | | | \nNet income (loss) | $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Items not affecting cash:** | | | | | \nInventory write-down | 29,440 | | | \u2014 | | | \u2014 | \nShare-based payments | 11,619 | | | 8,151 | | | 1,931 | \nDepreciation and amortization | 3,913 | | | 1,937 | | | 768 | \nShare of loss (income) from investments in equity accounted investees | 2,009 | | | 723 | | | (127 | ) \nNon-cash repurposing costs | 4,439 | | | \u2014 | | | \u2014 | \nGain on disposal of Whistler | (15,530 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of derivative liabilities (Note 28) | (1,276,819 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of financial liabilities | (197 | ) | | \u2014 | | | \u2014 | \nGain on other investments | (747 | ) | | (164 | ) | | (3,746 | ) \nDeferred income tax expense (recovery) | \u2014 | | | \u2014 | | | (862 | ) \nForeign exchange gain | 115 | | | (9 | ) | | \u2014 | \nNon-cash sales and marketing | 410 | | | \u2014 | | | \u2014 | \nNon-cash interest | (25 | ) | | \u2014 | | | \u2014 | \nNet changes in non-cash working capital | (54,208 | ) | | 3,662 | | | (759 | ) \nCash flows used in operating activities | (130,007 | ) | | (7,517 | ) | | (4,278 | ) \n**Investing activities** | | | | | \nPurchase of short-term investments, net | (299,923 | ) | | \u2014 | | | \u2014 | \nRepayment of purchase price liability | \u2014 | | | \u2014 | | | (1,997 | ) \nInvestments in equity accounted investees | (1,658 | ) | | (480 | ) | | (830 | ) \nInvestment in Vivo | \u2014 | | | \u2014 | | | (783 | ) \nProceeds from sale of other investments | 19,614 | | | 747 | | | 8,388 | \nPayment to exercise Vivo warrants | \u2014 | | | (88 | ) | | (1,749 | ) \nAdvances to joint ventures | (15,135 | ) | | (5,358 | ) | | \u2014 | \nPurchase of property, plant and equipment, net of disposals | (38,664 | ) | | (88,308 | ) | | (32,926 | ) \nPayment of accrued interest on construction loan payable | (89 | ) | | (143 | ) | | \u2014 | \nPurchase of intangible assets | (289 | ) | | (278 | ) | | \u2014 | \nAcquisition of Redwood | (224,295 | ) | | \u2014 | | | \u2014 | \nAdvances on loans receivable | (43,337 | ) | | \u2014 | | | \u2014 | \nProceeds from repayment of loans receivable | 237 | | | \u2014 | | | \u2014 | \nCash flows used in investing activities | (603,539 | ) | | (93,908 | ) | | (29,897 | ) \n**Financing activities** | | | | | \nRepayment of lease obligations | (919 | ) | | \u2014 | | | \u2014 | \nProceeds from Altria Investment | 1,809,556 | | | \u2014 | | | \u2014 | \nProceeds from exercise of Top-up Rights | 67,051 | | | \u2014 | | | \u2014 | \nProceeds from exercise of warrants and options | 1,455 | | | 2,612 | | | 1,697 | \nWithholding taxes paid on share appreciation rights | (915 | ) | | (16 | ) | | \u2014 | \nProceeds from share issuance | \u2014 | | | 115,510 | | | 38,542 | \nShare issuance costs | (3,722 | ) | | (7,577 | ) | | (2,114 | ) \nProceeds from construction loan payable | \u2014 | | | 11,583 | | | 5,022 | \nRepayment of construction loan payable | (15,971 | ) | | \u2014 | | | \u2014 | \nAdvance under Credit Facility | 48,715 | | | \u2014 | | | \u2014 | \nRepayment of Credit Facility | (48,309 | ) | | \u2014 | | | \u2014 | \nRepayment of mortgage payable | \u2014 | | | \u2014 | | | (3,084 | ) \nTransaction costs paid on construction loan payable | \u2014 | | | \u2014 | | | (989 | ) \nCash flows provided by financing activities | 1,856,941 | | | 122,112 | | | 39,074 | \nEffect of foreign currency translation on cash and cash equivalents | 52,371 | | | (4,085 | ) | | (152 | ) \nIncrease in cash and cash equivalents | 1,175,766 | | | 16,602 | | | 4,747 | \nCash and cash equivalents, beginning of period | 23,927 | | | 7,325 | | | 2,578 | \nCash and cash equivalents, end of period | $ | 1,199,693 | | | $ | 23,927 | | | $ | 7,325 | \n \n \nSee notes to consolidated financial statements. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n**For the quarters ended December 31, 2019 and 2018** \n_(In thousands of USD)_\n\n| | **Three months December 31,** \n---|---|--- \n| | **2019** | | **2018** \n**Operating activities** | | | \nNet income (loss) | 61,570 | | | (9,692 | ) \nItems not affecting cash: | | | \nInventory write down | 24,016 | | | \u2014 | \nShare-based payments | 3,670 | | | 2,182 | \nDepreciation and amortization | 957 | | | 928 | \nShare of loss (income) from investments in equity accounted investees | 505 | | | 773 | \nNon-cash repurposing costs | 4,439 | | | \u2014 | \nGain on disposal of Whistler | (33 | ) | | \u2014 | \nGain on revaluation of derivative liabilities | (118,811 | ) | | \u2014 | \nGain on revaluation of financial liabilities | (50 | ) | | \u2014 | \nGain on other investments | (2 | ) | | 225 | \nDeferred income tax (recovery) expense | (58 | ) | | \u2014 | \nForeign exchange gain | (692 | ) | | (1 | ) \nNon-cash sales and marketing | 410 | | | \u2014 | \nNon-cash interest | (25 | ) | | \u2014 | \nNet changes in non-cash working capital | (29,110 | ) | | 23,882 | \nCash flows used in operating activities | (53,214 | ) | | 18,297 | \n**Investing activities** | | | \nPurchase of short term investments | 84,365 | | | \u2014 | \nRepayment of purchase price liability | \u2014 | | | \u2014 | \nInvestments in equity accounted investees | \u2014 | | | (326 | ) \nProceeds from sale of other investments | \u2014 | | | (10 | ) \nPayment to exercise Vivo Cannabis (\"Vivo\") warrants | \u2014 | | | 1 | \nAdvances to joint ventures | 816 | | | (2,291 | ) \nPurchase of property, plant and equipment | (1,042 | ) | | (32,625 | ) \nPayments of interest on construction in progress | \u2014 | | | 2 | \nPurchase of intangible assets | 285 | | | (51 | ) \nAcquisition of Redwood | 2,929 | | | \u2014 | \nAdvances on loans receivable | (10,325 | ) | | \u2014 | \nProceeds from repayment of loans receivable | (1 | ) | | \u2014 | \nCash assumed on acquisition | (2,957 | ) | | \u2014 | \nCash assumed on acquisition of Cronos Israel | \u2014 | | | (998 | ) \nCash flows used in investing activities | 74,070 | | | (36,298 | ) \n**Financing activities** | | | \nAdvance from non-controlling interests | (183 | ) | | \u2014 | \nRepayment of lease liabilities | (505 | ) | | \u2014 | \nProceeds from Altria Investment | \u2014 | | | \u2014 | \nProceeds from exercise of Top-up Rights | 35,485 | | | \u2014 | \nProceeds from exercise of options and warrants | \u2014 | | | (15 | ) \nWithholding taxes paid on share appreciation rights | (54 | ) | | (16 | ) \nProceeds from share issuance | \u2014 | | | \u2014 | \nShare issuance costs | \u2014 | | | 26 | \nProceeds from construction loan payable | \u2014 | | | 11,583 | \nRepayment of construction loan payable | \u2014 | | | \u2014 | \nAdvance under Credit Facility | \u2014 | | | \u2014 | \nRepayment of Credit Facility | \u2014 | | | \u2014 | \nRepayment of mortgage payable | \u2014 | | | \u2014 | \nTransaction costs paid on construction loan payable | \u2014 | | | \u2014 | \nCash flows provided by financing activities | 34,743 | | | 11,578 | \nEffect of foreign currency translation on cash and cash equivalents | 29,680 | | | (1,782 | ) \nIncrease (decrease) in cash and cash equivalents | 85,279 | | | (8,205 | ) \nCash and cash equivalents, beginning of period | 1,114,414 | | | 32,132 | \nCash and cash equivalents, end of period | $ | 1,199,693 | | | $ | 23,927 | \n \n**Non-GAAP Measures** \n\nThe Company uses certain measures that are not recognized under GAAP. These\nfinancial measures are not recognized under GAAP, do not have a standardized\nmeaning prescribed by GAAP and are therefore unlikely to be comparable to\nsimilar measures presented by other companies. Rather, these measures are\nprovided as a supplement to those GAAP measures to provide additional\ninformation regarding our results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding GAAP measures are\nprovided below.\n\n_Adjusted operating loss_ \nManagement reviews operating loss on an adjusted basis, which excludes certain\nincome and expense items that management believes are not part of underlying\noperations. These items include repurposing charges. Management does not view\nthese items to be part of underlying results as they may be highly variable,\nmay be infrequent, are difficult to predict and can distort underlying\nbusiness trends and results.\n\nManagement believes that adjusted operating loss provides useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of year-over-year results. Management uses adjusted operating loss\nfor planning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\n_(In thousands of USD)_ | | **Three months ended December 31,** | | **Year ended December 31,** \n---|---|---|---|--- \n| | **2019** | | **2018** | | **2019** | | **2018** \nReported operating loss | | $ | (63,869 | ) | | $ | (8,871 | ) | | $ | (121,484 | ) | | $ | (21,341 | ) \nAdjustments | | | | | | | | \nRepurposing charges | | 7,268 | | | \u2014 | | | 7,268 | | | \u2014 | \nAdjusted operating loss | | (56,601 | ) | | (8,871 | ) | | (114,216 | ) | | (21,341 | ) \n \n_ \n_\n\n_Adjusted operating loss by business segment_ \nManagement reviews segment operating loss, which excludes corporate expenses,\nand adjusted operating loss by business segment, which further excludes\ncertain income and expense items that management believes are not part of the\nunderlying segment\u2019s operations. Corporate expenses are expenses that relate\nto the consolidated business and not to an individual operating segment while\nthe income and expenses items include repurposing charges. Management does not\nview the income and expense items above to be part of underlying results of\nthe segment as they may be highly variable, may be infrequent, are difficult\nto predict and can distort underlying business trends and results.\n\nManagement believes that adjusted operating loss by business segment provides\nuseful insight into underlying segment trends and results and will provide a\nmore meaningful comparison of year-over-year results, going forward.\nManagement uses adjusted operating loss by business segment for planning,\nforecasting and evaluating segment performance, including allocating resources\nand evaluating results relative to employee compensation.\n\n_(In thousands of USD)_ | **Year ended December 31, 2019** \n---|--- \n| **US** | | **RoW** | | **Total Segments** | | **Corporate Expenses** | | **Total** \nReported operating loss | $ | (2,777 | ) | | $ | (106,928 | ) | | $ | (109,705 | ) | | $ | (11,779 | ) | | $ | (121,484 | ) \nAdjustments | | | | | | | | | \nRepurposing charges | \u2014 | | | 7,268 | | | 7,268 | | | \u2014 | | | 7,268 | \nAdjusted operating loss | (2,777 | ) | | (99,660 | ) | | (102,437 | ) | | (11,779 | ) | | (114,216 | ) \n \n \n\n_(In thousands of USD)_ | **Three months December 31, 2019** \n---|--- \n| **US** | | **RoW** | | **Total Segments** | | **Corporate Expenses** | | **Total** \nReported operating loss | $ | (1,797 | ) | | $ | (59,066 | ) | | $ | (60,863 | ) | | $ | (3,006 | ) | | $ | (63,869 | ) \nAdjustments | | | | | | | | | \nRepurposing charges | \u2014 | | | 7,268 | | | 7,268 | | | \u2014 | | | 7,268 | \nAdjusted operating loss | (1,797 | ) | | (51,798 | ) | | (53,595 | ) | | (3,006 | ) | | (56,601 | ) \n \n_Adjusted EBITDA_ \nAdjusted earnings before interest, tax depreciation and amortization\n(\u201cAdjusted EBITDA\u201d) is used by management as a supplemental measure to review\nand assess operating performance and trends on a comparable basis with the\nrest of the industry, although our measure of Adjusted EBITDA may not be\ndirectly comparable to similar measures used by other companies.\n\nManagement reviews EBITDA on an adjusted basis, which excludes net income\nattributable to non-controlling interests, repurposing charges and special\nitems. Special items consist of financing and transaction costs, other non-\ncash gains (losses) and other unforeseeable, non-recurring charges which\nmanagement has described below.\n\n_(In thousands of USD)_ | | **Three months December 31,** | | **Year ended December 31,** \n---|---|---|---|--- \n| | **2019** | | **2018** | | **2019** | | **2018** \nNet income (loss) | | $ | 61,569 | | | $ | (9,692 | ) | | $ | 1,165,574 | | | $ | (21,817 | ) \nAdjustments | | | | | | | | \nInterest expense (income) | | (7,514 | ) | | (177 | ) | | (27,982 | ) | | (83 | ) \nIncome tax expense (recovery) | | \u2014 | | | \u2014 | | | \u2014 | | | \u2014 | \nRepurposing charges | | 7,268 | | | \u2014 | | | 7,268 | | | \u2014 | \nFinancing and transaction costs | | 524 | | | \u2014 | | | 32,208 | | | \u2014 | \nLoss (gain) on revaluation of derivative liabilities | | (118,811 | ) | | \u2014 | | | (1,276,819 | ) | | \u2014 | \nLoss (gain) on revaluation of financial liabilities | | (50 | ) | | \u2014 | | | (197 | ) | | \u2014 | \nLoss (gain) on disposal of investments | | (34 | ) | | 240 | | | (16,277 | ) | | (164 | ) \nShare of loss (income) from equity accounted investees | | 505 | | | 758 | | | 2,009 | | | 723 | \nShare-based payments | | 3,670 | | | 2,183 | | | 11,619 | | | 8,151 | \nAdjusted EBIT | | (52,873 | ) | | (6,688 | ) | | (102,597 | ) | | (13,190 | ) \nAdjustments | | | | | | | | \nDepreciation and amortization | | 957 | | | 928 | | | 3,913 | | | 1,937 | \nAdjusted EBITDA | | (51,916 | ) | | (5,760 | ) | | (98,684 | ) | | (11,253 | ) \n \n** \n**\n\n**Special Items** \n\nManagement does not view any of the following special items to be part of the\nunderlying results as they may be highly variable, may be infrequent, may be\nunpredictable and may distort underlying business results and trends.\n\n_Peace Natural Campus repurposing charges_ \n\n * In Q4 of 2019, Cronos Group recorded pre-tax charges of $7.2 million related to the Company\u2019s decision to redesign its efforts at the Peace Naturals Campus, which includes impairment costs, inventory write-down, and employee termination benefits. \n\n_Financing and transaction costs_\n\n * In Full-Year 2019, Cronos Group recorded pre-tax charges of $32.2 million related to the Altria Investment; acquisition related costs associated with the Cronos Fermentation and Redwood transactions; and a term loan credit facility. \n * No financing and transaction costs were recorded in 2018. \n\n_Gain on revaluation of derivative liabilities_\n\n * In Q4 2019, Cronos Group recorded a pre-tax unrealized gain of $118.8 million primarily resulting from the non-cash change in the fair value of financial derivative liabilities associated with the investment by Altria Group, Inc. (\u201cAltria\u201d). \n * In Full-Year 2019, Cronos Group recorded a pre-tax unrealized gain of $1,276.8 million primarily resulting from the non-cash change in the fair value of financial derivative liabilities associated with the investment by Altria. \n\n_Gain on disposal of investments_\n\n * In Full-Year 2019, Cronos Group recorded a pre-tax gain of $21.5 million primarily related to the disposal of shares in Whistler Marijuana Company (\u201cWhistler\u201d) to Aurora Cannabis Inc. (\u201cAurora\u201d) in connection with Aurora\u2019s acquisition of Whistler. \n * In Full-Year 2018, Cronos Group recorded a pre-tax gain of $0.2 million related to the disposal of its investment in AB Cann Global Corporation. \n\n**Foreign currency exchange rates**\n\nAll currency amounts in this Press Release are stated in U.S. dollars (\u201cUSD\u201d),\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to USD. The assets and liabilities of the Company's\nforeign operations are translated into USD at the exchange rate in effect as\nof December 31, 2019 and December 31, 2018. Transactions affecting\nshareholders' equity are translated at historical foreign exchange rates. The\nconsolidated statements of net income (loss) and comprehensive income (loss)\nand the consolidated statements of cash flows of the Company's foreign\noperations are translated into USD by applying the average foreign exchange\nrate in effect for the reporting period.\n\nThe exchange rates used to translate from USD to Canadian dollars (\u201cC$\u201d) is\nshown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As at December 31,** \n---|--- \n| **2019** | | **2018** | | **2017** \nAverage rate | 1.3268 | | | 1.2955 | | | 1.2969 | \nSpot rate | 1.2990 | | | 1.3639 | | | 1.2571 | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \n_[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com\n\"investor.relations@thecronosgroup.com\") _\n\n \n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release distributed via GlobeNewswire, directly reporting Cronos Group's financial results. It's a primary source for financial information, making it highly reliable for that specific data.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group reports its 2019 fourth-quarter and full-year results.",
"url": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "d21b0c66-3b0c-429b-a6ad-05c8dca74036",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.fool.com/earnings/call-transcripts/2025/02/27/cronos-group-cron-q4-2024-earnings-call-transcript/"
},
"page_content": "[ \u25b2 S&P 500 **+ \\---% ** | \u25b2 Stock Advisor ** \\+ \\---% ** Join The Motley Fool ](https://www.fool.com/mms/mark/e-foolcom-sa-top-nav-returns)\n\nAccessibility [ Log In ](/auth/authenticate/) [ Help\n](https://support.fool.com/)\n\nAccessibility Menu\n\nFree Article\n\nYou're reading a free article with opinions that may differ from The Motley\nFool's Premium Investing Services. Become a Motley Fool member today to **get\ninstant access to our top analyst recommendations, in-depth research,\ninvesting resources,** and more. [ Learn More\n](https://www.fool.com/mms/mark/op-free-tbox-art)\n\nBy [ Motley Fool Transcribing ](/author/20032/) \u2013 Feb 27, 2025 at 11:45AM\n\n## [ NASDAQ: CRON ](/quote/nasdaq/cron/)\n\n### Cronos Group\n\nMarket Cap\n\n$685M\n\nToday's Change\n\n(0.85%) $0.01\n\nCurrent Price\n\n$1.78\n\nPrice as of April 23, 2025, 3:57 p.m. ET\n\nCRON earnings call for the period ending December 31, 2024.\n\nImage source: The Motley Fool.\n\n**Cronos Group** ( [ CRON ](/quote/nasdaq/cron/) 0.85% ) \nQ4 2024 Earnings Call \nFeb 27, 2025 , _8:30 a.m. ET_\n\n## Contents:\n\n * Prepared Remarks \n * Questions and Answers \n * Call Participants \n\n## Prepared Remarks:\n\n \n\n**Operator**\n\nGood morning. My name is Antoine, and I will be your conference operator\ntoday. I would like to welcome everyone to Cronos Group's fourth-quarter and\nfull-year 2024 earnings conference call. Today's call is being recorded.\n\nAt this time, I would like to turn the call over to Anna Shlimak, chief\nstrategy officer. Please go ahead.\n\n**Anna Shlimak** \\-- _Chief Strategy Officer_\n\nThank you, Antoine, and thank you for joining us today to review Cronos' 2024\nfull-year and fourth-quarter financial and business performance. Today, I'm\njoined by chairman, president and CEO, Mike Gorenstein, and our CFO, James\nHolm. Cronos issued a news release announcing our financial results this\nmorning, which is filed on our EDGAR and SEDAR profiles. This information and\nthe prepared remarks will also be posted on our website under investor\nrelations.\n\nBefore I turn the call over to Mike, let me remind you that we may make\nforward-looking statements and refer to non-GAAP financial measures during\nthis call. These forward-looking statements are based on management's current\nexpectations and assumptions that are subject to risks and uncertainties that\ncould cause actual results to differ materially from those projected in the\nforward-looking statements. Factors that could cause actual results to differ\nmaterially from expectations are detailed in our earnings materials and our\nSEC filings that are available on our website, by which any forward-looking\nstatements made during this call are qualified in their entirety. Information\nabout non-GAAP financial measures, including reconciliations to US GAAP, can\nalso be found in the earnings materials that are available on our website.\n\nLastly, we will be making statements regarding market share information\nthroughout this conference call, unless otherwise stated, all market share\ndata is provided by Hifyre. We will now make prepared remarks, and then we'll\nmove to a question-and-answer session. With that, I'll pass it over to Cronos'\nchairman, president, and CEO, Mike Gorenstein.\n\n**Michael Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\nThank you, Anna, and good morning, everyone. Three years ago, when I returned\nas Cronos' CEO, we set ambitious goals, to deliver robust top line growth,\nimprove margins and rightsize our operating expenses. Today, I'm proud to say\nthat these goals are coming to fruition and can be seen throughout the\nbusiness. With yet another quarter of solid results and our unwavering\ncommitment to disciplined operating expenses, we're showcasing our ability to\ndrive growth while enhancing efficiency across our business.\n\nYear over year, we grew annual net revenue by 35%. We nearly doubled our\nadjusted gross margins and continue to exercise discipline in the management\nof our operating expenses. Our 2024 results are evidence that our business is\nperforming, and we continue to lead the global cannabis industry in product\ninnovation and exceptional quality. Bolstered by our robust balance sheet, we\nare in an exceptional position to seize future growth opportunities and\nfurther strengthen our leadership in the markets we serve as we look forward\nto 2025. In 2024, we invested in GrowCo to expand its cultivation and\nproduction capabilities in order to ensure a consistent supply of high-quality\ncannabis at greater scale.\n\nThis strategic move was aimed to improve operational efficiency, reduce costs\nand optimize margins by leveraging advanced growing techniques. We are eager\nfor the new supply from that investment to come online in order to feed the\ngrowing demand in the markets we operate in and new markets that have become\navailable to us. I feel confident that we have positioned ourselves to better\nmeet growing consumer demand, maintain product quality and support our\nexpanding portfolio of brands and products in a prudent and thoughtful way.\nOur expansion of GrowCo is progressing well.\n\nIn Q4, Health Canada approved amendments to the site's perimeter, and we\nexpect to finish construction of the expanded cultivation and processing\nfacilities in Q2, with first harvest and sales for the new area expected to\nbegin in the second half of 2025. Up until the first sales from the expanded\nfacility, we have the option to purchase up to 80% of GrowCo's total\nproduction. Once expansion sales begin, Cronos will have the option to\npurchase up to 70% of the total production from the facility. The GrowCo\nexpansion positions us to capitalize on Canadian domestic demand and will fuel\ninternational growth opportunities in 2025.\n\nThe past year, I've been incredibly proud of the strides we have made in R&D,\nincluding product development and innovation. Cronos has achieved significant\nadvancement in cannabis genetics with improvements not only in new strains\nthat meet consumer preferences, but also reaching new levels of cannabinoid\nyield. This is a result of years spent dedicated to our breeding and tissue\nculture. Consumers are consistently shopping for a flower value proposition\nbased on a price potency equation, and our genetics are helping us meet this\ndemand, which has cemented us as a top-performing flower brand in Canada and\ninternationally.\n\nNow turning to brand updates. I'm happy to share that Spinach has ended the\nyear as the No. 1 cannabis brand in Canada by market share, solidifying its\nleadership position. This achievement is fueled by its No.\n\n1 rankings in both edibles and flower, a No. 4 position in vapes and No. 7 in\npre-rolls. Spinach's consistent market share growth is a testament to our\nunwavering commitment to quality, innovation and delivering differentiated\nproducts that resonate with consumers in the highly competitive Canadian\nadult-use market.\n\nIn the gummy category, our industry-leading SOURZ products captured 23% market\nshare in Q4 with fiv of the top 10 best-selling edibles in Canada, all part of\nthe SOURZ lineup. Our Fully Blasted SOURZ innovations featuring 10 milligrams\nof THC per piece have been partially -- particularly well received by\nconsumers. In Q4, we launched two new Fully Blasted products, Peach Orange and\nStrawberry Mango, as well as the new CBD Berry Variety Pack, which debuted in\nBC at the end of December. Each variety pack contains 30 gummies with 30\nmilligrams of CBD in each gummy and three flavors.\n\nBlue Raspberry Watermelon, Strawberry Mango and Blueberry Acai. Additionally,\nour Lord Jones brand has made significant strides in the chocolate category,\nfinishing the year as the third best-selling chocolate brand in Canada. In\nJanuary, we also launched a new Lord Jones Chocolate Fusions flavor, Fudge\nBrownie, which features an even ratio of CBN, CBD and THC. Spinach continues\nto show its strength in the flower category, holding the No.\n\n1 spot for Q4 and full year with 6% market share. This success is driven by\npopular genetics like GMO Cookies, Wedding Cake, Space Cake and Sour Chem\navailable on a variety of sizes. The ongoing achievements of our green program\nand the operational excellence of GrowCo have further cemented our leadership\nin this category, ensuring consistent delivery of quality products to meet\nconsumer demand. While Spinach showed strong growth in flower in 2024, and we\nstill see strong demand, we do not expect that growth to continue until the\nback half of 2025 when additional supply from the GrowCo expansion becomes\navailable.\n\nIn order to prepare for the next phase of growth, we will continue to\nstrategically allocate the existing supply across Spinach in Canada and PEACE\nNATURALS internationally. In Q4, we released Blue Monster pre-rolls under a\nnew regional Quebec brand, Sonique. Our regional brand Sonique is tailored to\nmeet the unique preferences and needs of the Quebec market, offering products\nthat resonate with the province's distinct cannabis culture. The brand's\nstrategic approach ensures to capture the essence of Quebec's market trends,\ncombining local insights with exceptional product development to build trust\nand loyalty among cannabis enthusiasts in the region.\n\nOur strategy has always been to develop a portfolio of best-selling and\ndisruptive branded products that we can launch in new markets as cannabis\nregulations open globally. The Spinach brand becoming the No. 1 best-selling\nbrand in Canada is a validation of our strong capabilities, and we're just\ngetting started in expanding our winning portfolio of borderless products and\nbringing them to markets globally. Now moving to Israel.\n\nOur team there has shown remarkable performance throughout Q4 with record\nvolumes sold and the highest sales per quarter in 2024. Cronos Israel has\nbuilt significant momentum throughout the year despite a very competitive\nmarket with evolving dynamics, including increased competition, tariff\nthreats, declining patient growth, entrance of HMOs and the ongoing Middle\nEast conflict. Despite all of this, the PEACE NATURALS brand and product\nportfolio continues to grow. PEACE NATURALS portfolio was overhauled with a\nrevised pricing strategy with focused cultivars that meet the needs of our\npatient base.\n\nHere on cultivars like Wedding Cake and GMO, along with changes implemented in\nthe portfolio drove growth throughout 2024. PEACE NATURALS ended the year as\nthe No. 1 flower brand in Israel with 24% market share and the brand's oil\noffering, and it is the fourth most popular brand with 9% market share\naccording to pharmacy data collected by Cronos. I'm incredibly proud of our\nturnaround in this market and look forward to launching more quality products\nin 2025.\n\nInternationally, we've made significant progress in the markets we've entered\nand are excited about the opportunities ahead. In Germany, our PEACE NATURALS\nbrand is gaining strong traction and continues to grow. Market penetration is\na big focus for us in 2025. We're confident in the momentum we're building,\nespecially as we're offering the same high-quality products that propelled us\nto the No.\n\n1 position in flower in Canada. With this foundation, we believe we have a\nclear ability to win and are well positioned to capture even greater market\nshare in Germany and elsewhere. Similarly, in the UK, while still early, we're\nalready seeing promising growth with PEACE NATURALS and are enthusiastic about\nthe significant potential for expansion in this emerging market. These\ndevelopments underscore our commitment to becoming a global leader in the\ncannabis industry.\n\nWe've ended the year strong, and I'm proud of the accomplishments we've made\nthroughout 2024. Cronos maintains the strongest balance sheet in the industry\nwith cash and cash equivalents of $859 million, reinforcing our ability to\ninvest in growth, innovation and global expansion. Each quarter showed\nsignificant year-over-year revenue increases, highlighting our continued\nmarket expansion and sales momentum. Now, I'll turn it over to James to walk\nthrough the fourth-quarter financials.\n\n**James Holm** \\-- _Chief Financial Officer_\n\nThanks, Mike, and good morning, everyone. In 2024, we increased net revenue\n35% year over year to $117.6 million, with strong performance in Canada and\nIsrael and international markets picking up well. Operating expenses declined\nby $5 million versus the prior year. Adjusted EBITDA improved by 45% year over\nyear and operating cash flow improved by $61.7 million to positive $18.8\nmillion.\n\nI will now review our fourth-quarter 2024 results, which now include the\nconsolidation of GrowCo's financials. The company reported consolidated net\nrevenue of $30.3 million, a 27% increase from the prior year period. Net\nrevenue for Cronos, excluding GrowCo, was $28.2 million, representing an 18%\ngrowth year over year on a stand-alone basis, while GrowCo net revenue was\n$2.1 million for Q4 2024. The net revenue increase was primarily driven by\nhigher cannabis flower and extract sales in Canada and higher flower sales in\nIsrael and other countries.\n\nGross profit in the fourth quarter was $10.8 million, equating to a 36% gross\nmargin. Gross profit was positively impacted by an adjustment of $1.8 million\nin connection with the finalization of the purchase accounting for the Cronos\nGrowCo transaction, which resulted in a reduction of the fair value of\ninventory acquired and the corresponding inventory step-up previously recorded\nin the cost of sales in Q3, resulting in an adjusted gross profit of $9\nmillion, equating to a 30% adjusted gross margin. We will continue providing\nthis adjustment until the inventory that was stepped up to fair market value\nthrough the purchase accounting adjustment has been sold through as we believe\nit is useful in reviewing and evaluating our ongoing performance. For full-\nyear 2024, year-over-year adjusted gross profit improved by $18.6 million and\nadjusted gross margin improved by 12 percentage points to 26%, nearly doubling\nour gross margin from the prior year.\n\nThe increase is primarily driven by higher sales of cannabis flower and\nextract sales in Canada, higher cannabis flower sales in Israel and production\ncost improvements. Adjusted EBITDA in the fourth quarter was negative $7.2\nmillion, representing a $7.6 million improvement from the prior year period.\nThe improvement was driven by increased revenue and higher adjusted gross\nprofit. The disciplined approach to our operating expenses employed to date\nenabled us to achieve savings of $8.7 million for 2024 versus the prior year\nfor Cronos on a stand-alone basis.\n\nWith this, we achieved the high end of the range for our previously announced\nguidance of a reduction of $5 million to $10 million for stand-alone Cronos.\nThe operating expense savings were driven by cost reductions in general and\nadministrative, research and development and sales and marketing. Going into\n2025, even with the addition of GrowCo's opex, we expect our opex to remain\nflat. In addition, our reported capex includes previously announced facility\nexpansion at GrowCo, something to be mindful of looking into 2025.\n\nTurning to the balance sheet and cash flow statement. The company ended the\nquarter with $859 million in cash and cash equivalents. Cash and cash\nequivalents were down $3 million from Q3 2024, driven primarily by capex spend\nin Q4 '24 of $3.7 million and FX fluctuations, partially offset by cash from\noperations of $7.7 million in 2024. On a full-year basis, capital expenditure\nincreased $9.7 million year over year, reflecting investments at our GrowCo\nfacility and improved automation capabilities in our PEACE NATURALS campus at\nStayner.\n\nDuring 2024, we generated $18.8 million of cash from operating activities\ncompared to 2023, where cash used was $42.8 million, representing an increase\nin cash flow from operating activities of $61.7 million. This change was\nprimarily driven by a $32.8 million tax payment made in 2023 connected to the\npreviously disclosed relinquishment by Altria of its warrant to purchase\nadditional shares of the company in 2022, a $38.8 million increase in net\nincome after adjusting for noncash items during 2024 compared to 2023 and\nhigher interest received. As a result, free cash flow for Q4 2024 was positive\n$4 million compared to a positive $15 million in the prior year period. Free\ncash flow for the full-year 2024 was positive $5.7 million compared to a\nnegative $46.3 million for the full-year 2023, representing a $51.9 million\nimprovement.\n\nOur cash balance is stable, and you can see the underlying fundamentals of our\noperations are showing significant improvement. Looking back on the progress\nwe've made, I share in Mike's confidence, in the trajectory of the business\nand our preparedness for entry into new markets as they become available. With\nthat, I would like to hand it back to Mike for a brief comment before going\ninto Q&A.\n\n**Michael Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\nThroughout this past year, we have demonstrated strong performance across all\nquarters, driven by robust revenue growth, improved margins and disciplined\ncost management. We solidified our market leadership in Canada and Israel,\nachieved significant milestones in international markets and continue to\ninnovate with new product launches. With a strong balance sheet and a clear\nstrategic focus, Cronos is well positioned to capitalize on future growth\nopportunities and enhance our position in the global cannabis industry. As we\nlook ahead, we remain focused on innovation, operational excellence and\nstrategic expansion.\n\nOur core business is performing exceptionally well, and we are well positioned\nto capitalize on the growing global cannabis market as we look forward to\n2025. With that, I'll open the line for questions.\n\n## Questions & Answers:\n\n \n\n**Operator**\n\n[Operator instructions] I am showing no questions at this time. [Operator\nsignoff]\n\n**Duration: 0 minutes**\n\n## Call participants:\n\n**Anna Shlimak** \\-- _Chief Strategy Officer_\n\n**Michael Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\n**James Holm** \\-- _Chief Financial Officer_\n\n**Mike Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\n[ More CRON analysis ](https://www.fool.com/quote/cron)\n\n[ All earnings call transcripts ](https://www.fool.com/earnings-call-\ntranscripts/)\n\n_This article is a transcript of this conference call produced for The Motley\nFool. While we strive for our Foolish Best, there may be errors, omissions, or\ninaccuracies in this transcript. As with all our articles, The Motley Fool\ndoes not assume any responsibility for your use of this content, and we\nstrongly encourage you to do your own research, including listening to the\ncall yourself and reading the company's SEC filings. Please see our_ [ _Terms\nand Conditions_ ](https://www.fool.com/legal/terms-and-conditions/fool-rules)\n_for additional details, including our Obligatory Capitalized Disclaimers of\nLiability._\n\n_The Motley Fool recommends Cronos Group. The Motley Fool has a[ disclosure\npolicy ](https://www.fool.com/legal/fool-disclosure-policy/) . _\n\nStocks Mentioned\n\n[ Cronos Group CRON $1.78 (0.85%) $0.01 ](/quote/nasdaq/cron/)\n\n*Average returns of all recommendations since inception. Cost basis and return based on previous market day close. \n\nRelated Articles\n\n[ Cronos Group (CRON) Q3 2024 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/11/12/cronos-group-cron-q3-2024-earnings-call-transcript/) [\nCronos Group (CRON) Q2 2024 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/08/08/cronos-group-cron-q2-2024-earnings-call-transcript/) [\nCronos Group (CRON) Q1 2024 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/05/09/cronos-group-cron-q1-2024-earnings-call-transcript/) [\nCronos Group (CRON) Q4 2023 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/02/29/cronos-group-cron-q4-2023-earnings-call-transcript/) [\nCronos Group (CRON) Q3 2023 Earnings Call Transcript ](/earnings/call-\ntranscripts/2023/11/08/cronos-group-cron-q3-2023-earnings-call-transcript/)\n\n## Premium Investing Services\n\nInvest better with The Motley Fool. Get stock recommendations, portfolio\nguidance, and more from The Motley Fool's premium services.\n\n[ View Premium Services ](/services/?ftm_cam=footer-services-sitewide-\nprospects)\n\n[ ](/)\n\nMaking the world smarter, happier, and richer.\n\n * [ Facebook ](https://www.facebook.com/themotleyfool?fref=ts)\n * [ Twitter ](https://twitter.com/TheMotleyFool)\n * [ Linked In ](https://www.linkedin.com/company/the-motley-fool/)\n * [ Pinterest ](https://www.pinterest.com/themotleyfool/)\n * [ YouTube ](https://www.youtube.com/user/TheMotleyFool)\n * [ Instagram ](https://www.instagram.com/themotleyfoolofficial/)\n * [ Tiktok ](https://www.tiktok.com/@themotleyfoolofficial)\n\n\u00a9 1995 - 2025 The Motley Fool. All rights reserved.\n\nMarket data powered by [ Xignite ](https://xignite.com/) and [ Polygon.io\n](https://polygon.io/) .\n\nAbout The Motley Fool\n\n * [ About Us ](/about/)\n * [ Careers ](https://careers.fool.com/)\n * [ Research ](/research/)\n * [ Newsroom ](/contact/newsroom/)\n * [ Contact ](/legal/contact-us/)\n * [ Advertise ](/cdn-cgi/l/email-protection#79181d1017080c100b101c0a391f161615571a1614)\n\nOur Services\n\n * [ All Services ](/services/)\n * [ Stock Advisor ](/services/stock-advisor/)\n * [ Epic ](/services/epic/)\n * [ Epic Plus ](/services/epic-plus/)\n * [ Fool Portfolios ](/services/fool-portfolios/)\n * [ Fool One ](/services/one/)\n * [ Motley Fool Money ](/money/)\n\nAround the Globe\n\n * [ Fool UK ](https://www.fool.co.uk/)\n * [ Fool Australia ](https://www.fool.com.au/)\n * [ Fool Canada ](https://www.fool.ca)\n\nFree Tools\n\n * [ CAPS Stock Ratings ](https://caps.fool.com/Index.aspx)\n * [ Discussion Boards ](https://discussion.fool.com/)\n * [ Calculators ](/calculators/index/)\n * [ Financial Dictionary ](/terms/)\n\nAffiliates & Friends\n\n * [ Motley Fool Asset Management ](/affiliates/mfam/)\n * [ Motley Fool Wealth Management ](/affiliates/mfwm/)\n * [ Motley Fool Ventures ](/affiliates/ventures/)\n * [ Motley Fool Foundation ](/affiliates/foundation/)\n * [ Become an Affiliate Partner ](/affiliates/)\n\n * [ Terms of Use ](/legal/terms-and-conditions/fool-rules/ \"Terms of Use\")\n * [ Privacy Policy ](/legal/privacy-statement/ \"Privacy Policy\")\n * [ Disclosure Policy ](/legal/fool-disclosure-policy/ \"Disclosure Policy\")\n * [ Accessibility Policy ](/legal/accessibility-policy/ \"Accessibility Policy\")\n * [ Copyright, Trademark and Patent Information ](/legal/stuff-we-own/ \"Copyright, Trademark and Patent Information\")\n * [ Terms and Conditions ](/legal/terms-and-conditions/ \"Terms and Conditions\")\n * [ Do Not Sell My Personal Information ](/data-protection/ccpa-update/ \"Do Not Sell My Personal Information\")\n\nCurrent\n\n",
"url": "https://www.fool.com/earnings/call-transcripts/2025/02/27/cronos-group-cron-q4-2024-earnings-call-transcript/"
},
"reason": "The Motley Fool provides transcripts of earnings calls, offering direct insights into company performance and management discussions. It's a reliable source for understanding the context behind financial results.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Transcript of Cronos Group's Q4 2024 earnings call from The Motley Fool.",
"url": "https://www.fool.com/earnings/call-transcripts/2025/02/27/cronos-group-cron-q4-2024-earnings-call-transcript/"
},
{
"content": {
"metadata": {
"ext_id": "f4fe3bb1-7652-41cb-827d-12ac813e3f2d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.wnct.com/business/press-releases/globenewswire/9383737/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
},
"page_content": "Your browser appears to have Javascript disabled. \n \nFor instructions on how to enable Javascript please [ click here\n](https://instructions.humandemo.zone/enablejavascript.html) . \n \nIf you have any issues, please contact us at [ challengehelp@humansecurity.com\n](mailto:challengehelp@humansecurity.com?subject=Bot%20Challenge%20Issue%20-%20Javascript%20Disabled\n- Reference ID #d2893c67-210f-11f0-af81-ea2ec3ca592d&body=Client IP:\n34.96.35.23%0D%0ATimestamp: Thu, 24 Apr 2025 13:27:08 GMT%0D%0A---Please\ndescribe the issue you experienced below this line---)\n\n",
"url": "https://www.wnct.com/business/press-releases/globenewswire/9383737/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
},
"reason": "This is a press release distributed via GlobeNewswire and published on WNCT, announcing Cronos Group's upcoming earnings call. It's a reliable source for this specific information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group Inc. to hold 2024 fourth-quarter and full-year earnings conference call on February 27, 2025, according to WNCT.",
"url": "https://www.wnct.com/business/press-releases/globenewswire/9383737/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
},
{
"content": {
"metadata": {
"ext_id": "ab3f2317-600b-4be0-870c-441ef654a928",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.osc.ca/en/news-events/news/cronos-group-inc-pay-more-1-million-accounting-and-control-failures"
},
"page_content": "Please enable cookies.\n\n# Sorry, you have been blocked\n\n## You are unable to access www.osc.ca\n\n## Why have I been blocked?\n\nThis website is using a security service to protect itself from online\nattacks. The action you just performed triggered the security solution. There\nare several actions that could trigger this block including submitting a\ncertain word or phrase, a SQL command or malformed data.\n\n## What can I do to resolve this?\n\nYou can email the site owner to let them know you were blocked. Please include\nwhat you were doing when this page came up and the Cloudflare Ray ID found at\nthe bottom of this page.\n\nCloudflare Ray ID: **9355efb90f9f783b** \u2022 Your IP: 2600:1900:0:3700::301 \u2022\nPerformance & security by [ Cloudflare ](https://www.cloudflare.com/5xx-\nerror-landing)\n\n",
"url": "https://www.osc.ca/en/news-events/news/cronos-group-inc-pay-more-1-million-accounting-and-control-failures"
},
"reason": "This is an official news release from the Ontario Securities Commission (OSC) regarding penalties against Cronos Group for accounting failures. As a regulatory body, the OSC is a highly reliable source.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group Inc. to pay more than $1 million for accounting and control failures, according to the Ontario Securities Commission.",
"url": "https://www.osc.ca/en/news-events/news/cronos-group-inc-pay-more-1-million-accounting-and-control-failures"
},
{
"content": {
"metadata": {
"ext_id": "eedfd43c-9cff-4fc9-94d9-39839d0fd2da",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/clntSmmry?sMdKy=1727611818069&clientOrgCorpNumber=365854&wbdisable=true"
},
"page_content": " * Skip to main content \n * Skip to \"About this site\" \n\n# 12-Month Lobbying Summary - In-house Corporation\n\n[ Return to 12-Month Lobbying Activity Search Results\n](/app/secure/ocl/lrs/do/clntSmmrySrch?return=true)\n\n## Cronos Group Inc. / Michael Gorenstein, President & CEO\n\n**Registration Summary**\n\n#### Cronos Group Inc. ( Address & business activities )\n\nMichael Gorenstein, President & CEO\n\n##### Received government funding or funding expected in current financial\nyear\n\nNo\n\n##### Business Relationships\n\n * Cronos Group Inc. is not a subsidiary of any other parent companies. \n\n#### Beneficiaries of the Lobbying Activity\n\n##### Cronos Group Inc. has the following subsidiaries that could have a\ndirect interest in the outcome of the undertaking\n\n * Peace Naturals Project Inc. ( Address information ) \n\n * Subsidiaries in previous versions \n * Original BC Ltd. ( Address information ) \n\n#### Subject Matter Details\n\nDetails Regarding the Identified Subject Matter Subject matters | Details | Categories \n---|---|--- \nIndustry, Research and Development \n| Bill C-45, the Cannabis Act and Cannabis Regulations, with respect to the\nlicensing, regulation, production, promotion, distribution, export and sale of\ncannabis and cannabis products. \n| Legislative Proposal, Bill or Resolution, Regulation \n \n \n#### Government Institutions\n\n * Finance Canada (FIN) \n * Health Canada (HC) \n * House of Commons \n * Innovation, Science and Economic Development Canada (ISED) \n\n#### Communication techniques\n\nCommunication techniques that have been used or are expected to be used in the\ncourse of the undertaking:\n\n * Oral communication \n * Written communication \n\n \n\n#### Senior Officers whose lobbying activities represent less than 20% of\ntheir Duties\n\n * **Michael Gorenstein** , President & CEO | No public offices held \n * **Jeffrey Jacobson** , SVP, Head of Growth | No public offices held \n\n#### Senior Officers and Employees whose lobbying activities represent 20% or\nmore of their Duties\n\nNo lobbyists added\n\n * Lobbyists in previous versions \n\n#### Senior Officers whose lobbying activities represent less than 20% of\ntheir Duties\n\n * **Pete Meachum** , VP, Government Affairs | No public offices held \n\nRegistration number: 945256-365854 \n[ View all registrations versions\n](/app/secure/ocl/lrs/do/advSrch?documentType=registration&adv_2002_clientOrgCorpNumber=365854&srch=Search\n\"View all registrations versions\")\n\n**Monthly Communication Reports**\n\nWhat oral and arranged communications have taken place? Date | DPOH, Position Title | Government Institution | Subject Matters \n---|---|--- \n[ 2024-10-01 ](cmmLgPblcVw?comlogId=620964&searchPage=clientOrgCorpSummary&sMdKy=1727611818069) | \n\n * **Kayla Canzanese** , Legislative Assistant | Parliament, House of Commons \n * **Adam Chambers** , Member of Parliament | Parliament, House of Commons \n\n| Industry, Research and Development \n[ 2024-09-26 ](cmmLgPblcVw?comlogId=616448&searchPage=clientOrgCorpSummary&sMdKy=1727611818069) | \n\n * **Ric Stryde** , Member of Parliament | Cannabis, House of Commons \n\n| Taxation and Finance \n[ 2024-09-17 ](cmmLgPblcVw?comlogId=616447&searchPage=clientOrgCorpSummary&sMdKy=1727611818069) | \n\n * **Shawn Morrison** , Chief of Staff | House of Parliament, House of Commons \n\n| Taxation and Finance \n[ 2024-05-31 ](cmmLgPblcVw?comlogId=605805&searchPage=clientOrgCorpSummary&sMdKy=1727611818069) | \n\n * **Ric Stryde** , Member of Parliament | Cannabis, House of Commons \n\n| Economic Development \n[ 2024-05-22 ](cmmLgPblcVw?comlogId=605800&searchPage=clientOrgCorpSummary&sMdKy=1727611818069) | \n\n * **John Clare** , Director General | Controlled Substances and Cannabis Branch, Health Canada (HC) \n * **Jack Glick** , Senior Policy Advisor | Tax Policy, Finance Canada (FIN) \n * **Eshan Naik** , Director of Policy | Minister's office, Health Canada (HC) \n * **David Pellman** , Director General | Cannabis, Health Canada (HC) \n * **Benoit Seguin** , Director General | Cannabis, Health Canada (HC) \n * **Kendal Weber** , ADM | Cannabis, Health Canada (HC) \n\n| Industry \n \n[ View all monthly communication reports\n](/app/secure/ocl/lrs/do/advSrch?documentType=comlog&adv_3001_level1comlog=clientOrgCorpNumber&adv_3001_clientOrgCorpNumber=365854&srch=Search\n\"View all monthly communication reports\")\n\n* * *\n\n[ Return to 12-Month Lobbying Activity Search Results\n](/app/secure/ocl/lrs/do/clntSmmrySrch?return=true)\n\n## Cronos Group Inc. - Address & business activities\n\n**Address:**\n\n4491 Concession 12 Sunnidale Road \nStayner, ON L0M 1S0 \nCanada \n \n**Telephone number:** 416-504-0004 \n \n\n * Contact information in previous versions \n * 111 Peter Street, Suite 300 \nToronto, ON M5V 2H1 \nCanada \n \n**Telephone number:** 416-504-0004 \n \n\n * 111 Peter Street, Suite 300 \nToronto, ON M5V 2G9 \nCanada \n \n**Telephone number:** 416-504-0004 \n \n\n * 320-720 King Street West \nToronto, ON M5V 2T3 \nCanada \n \n**Telephone number:** 416-504-0004 \n \n\n \n**Description of activities:** \nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. \n \n\n * Descriptions of the corporation's activity in previous versions: \n * Cronos Group is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group\u2019s diverse international brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae, Lord Jones\u00ae, Happy Dance\u00ae and PEACE+\u2122. \n * With international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group\u2019s portfolio includes PEACE NATURALS\u2122, a global wellness platform, two adult-use brands, COVE\u2122 and Spinach\u2122, and three hemp-derived CBD brands, Lord Jones\u2122, Happy Dance\u2122 and PEACE+\u2122. \n * Cronos Group is an innovative global cannabinoid company with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group\u2019s portfolio includes PEACE NATURALS\u2122, a global wellness platform, two adult-use brands, COVE\u2122 and Spinach\u2122, and two hemp-derived CBD brands, Lord Jones\u2122 and PEACE+\u2122. For more information about Cronos Group and its brands, please visit: www.thecronosgroup.com. \n\n \n \n\n \n\n### Original BC Ltd.\n\n111 Peter Street, Suite 300 \nToronto, ON M5V 2H1 \nCanada\n\n### Peace Naturals Project Inc.\n\n4491 Concession 12 Sunnidale Road \nStayner, ON L0M 1S0 \nCanada\n\nNo government funding was received during the last completed financial year. \n\nDate Modified:\n\n 2025-03-12 \n\nTop of Page\n\n",
"url": "https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/clntSmmry?sMdKy=1727611818069&clientOrgCorpNumber=365854&wbdisable=true"
},
"reason": "This is the official Lobby Canada registry entry for Cronos Group. It provides factual information about the company's lobbying activities, making it a reliable source for that specific data.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Lobbying activities of Cronos Group as registered with Lobby Canada.",
"url": "https://lobbycanada.gc.ca/app/secure/ocl/lrs/do/clntSmmry?sMdKy=1727611818069&clientOrgCorpNumber=365854&wbdisable=true"
},
{
"content": {
"metadata": {
"ext_id": "b8fc17a8-bedb-46d7-a823-978a0daf31a8",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.cbc.ca/news/business/cronos-accounting-penalty-1.6628464"
},
"page_content": "Toronto cannabis company Cronos settles with SEC, OCS over accounting fraud | CBC News Loaded \n\n[ Business ](/news/business)\n\n# Toronto cannabis company Cronos settles with SEC, OCS over accounting fraud\n\nCronos Group Inc. and one of its former executives signed settlements Monday\nwith U.S. and Canadian regulators that accused them of filing inaccurate\nfinancial statements.\n\n## Cronos pays fine to Canadian regulator, U.S. counterparts satisifed error\nwas caught quickly\n\nThe Canadian Press \u00b7 Posted: Oct 25, 2022 8:18 AM EDT | Last Updated: October 25, 2022 \n\nCronos agreed to pay an administrative penalty of $1.3 million, cover costs\ntotalling $40,000 and submit to a review analyzing its compliance around\nfinancial reporting. (The Canadian Press)\n\n## Social Sharing\n\nCronos Group Inc. and one of its former executives signed settlements Monday\nwith U.S. and Canadian regulators that accused them of filing inaccurate\nfinancial statements.\n\nThe Toronto cannabis company said the settlements ended a pair of\ninvestigations being carried out by the Ontario Securities Commission (OSC)\nand U.S. Securities and Exchange Commission (SEC) into financial statements\nCronos made around the first three quarters of 2019 and the second quarter of\n2021.\n\nThe first set of settlements came from the Capital Markets Tribunal in\nOntario, where Cronos agreed to pay an administrative penalty of $1.3 million,\ncover costs totalling $40,000 and submit to a review analyzing its compliance\naround financial reporting.\n\nFormer chief financial and chief commercial officer William Hilson agreed to\nmake a voluntary payment of $50,000 to the OSC, pay costs of $20,000 and not\nserve as a director or officer of any reporting issuer for one year.\n\n\"When a public company issues inaccurate financial statements and has\ninadequate controls, investors are making decisions based on deficient\ninformation and the company thereby undermines confidence in Ontario's capital\nmarkets,\" said Tim Moseley, who chaired the panel deciding whether to accept\nthe settlement.\n\n\"Cronos' misconduct here is serious and warrants a serious response.\"\n\nThe Capital Markets Tribunal is an independent division of the OSC that hosts\nhearings presided over by adjudicators when there have been violations of the\nOntario Securities Act or the Commodity Futures Act.\n\nThe panel of adjudicators may order financial sanctions and prohibitions on\ncertain capital markets activities \u2014 like the ones Hilson and Cronos agreed to\n\u2014 but cannot impose jail terms.\n\nAs the tribunal's hearing was underway, the SEC announced it charged Cronos\nwith \"improperly accounting for millions of dollars of revenue and for other\naccounting misconduct in multiple reporting periods.\" Hilson was charged with\nfraud and aiding and abetting the company's violations.\n\n> Today we charged Cronos Group, a Nasdaq-listed, Toronto-based cannabis\n> company, for improperly accounting for millions in revenue. <br><br>In\n> agreeing to settle, we determined Cronos should not incur a financial\n> penalty given its significant cooperation.<a\n> href=\"https://t.co/pwgFSWtht0\">https://t.co/pwgFSWtht0</a>\n>\n> — [ @SECGov ](https://twitter.com/SECGov/status/1584649220786561024)\n\nThe SEC said Cronos and Hilson offered to settle the matter by agreeing to\n\"cease and desist from future violations,\" but neither the company nor the\nformer executive were made to admit any guilt.\n\nCronos agreed to retain an independent compliance consultant to review,\nassess, and make recommendations with respect to the firm's financial\nreporting and accounting controls. Hilson agreed to a three-year officer and\ndirector ban and a suspension from practising as an accountant for at least\nthree years.\n\nThe SEC said the company should not face a financial penalty because of \"its\ntimely self-reporting, significant co-operation, and remediation\" and Hilson\nshouldn't be fined either because he volunteered to pay the OSC.\n\nCronos and Hilson already made the payments they agreed to Monday at the\nOntario tribunal, but the money was held in escrow pending the outcome of the\nhearing.\n\n\"We are pleased to have resolved these matters,\" said Mike Gorenstein, Cronos'\nchairman, president and chief executive officer, in a statement.\n\n\"Important steps have been taken to strengthen our internal controls, and we\nare committed to continuing this work.\"\n\n\"As the industry continues to grow, it is imperative that investors receive\naccurate information about the financial performance of public cannabis\ncompanies to support informed investment decisions in this nascent sector,\"\nsaid Jeff Kehoe, the OSC's director of enforcement. \"The settlements announced\ntoday hold Cronos and Mr. Hilson accountable for their failures and serve as\nanother excellent example of the OSC working across international borders to\nprotect Ontario's capital markets.\"\n\nCronos and Hilson's settlements stem from allegations the OSC made accusing\nCronos of improperly recognizing $7.6 million in revenue in its first-,\nsecond- and third-quarter 2019 financial statements.\n\nThe regulator also claimed Cronos overstated \"virtually all\" of its U.S.\ngoodwill and a \"significant\" portion of its U.S. intangible assets by roughly\n$234.9 million in its second-quarter 2021 interim financial statements.\n\nThe OSC said some of the revenue errors were caused by dry flower transactions\naccounted for as revenue that \"lacked commercial substance\" and another\ntransaction that did not meet the criteria for revenue recognition because \"it\nwas deemed to be a consignment sale.\"\n\nCronos corrected the errors but reported related \"material weaknesses in\ninternal control over financial reporting.\" The errors constitute a breach of\nOntario's securities law and are contrary to public interest, the OSC argued.\n\nThe OSC placed some of the blame on former chief financial officer and chief\ncommercial officer William Hilson, who it alleged didn't take appropriate\nsteps to address issues stemming from one transaction the OSC identified as\nproblematic.\n\nRikin Morzaria, a lawyer for the OSC, said the regulator was willing to reach\nsettlements because Cronos and Hilson co-operated with its two-year\ninvestigation and attempted to remediate their errors.\n\n\"These remediation measures will work to reduce systemic risk and promote\nconfidence in the capital markets,\" Morzaria said. \"The substantial penalty\nsends a strong deterrent message both to Cronos and to other participants\ncarrying on business.\"\n\nMelissa MacKewn, a lawyer for Hilson, felt similarly, saying \"the agreement\nspeaks for itself.\"\n\n[ CBC's Journalistic Standards and Practices ](https://cbc.radio-\ncanada.ca/en/vision/governance/journalistic-standards-and-practices) \u00b7 [\nAbout CBC News ](/news/about-cbc-news-1.1294364)\n\n[ Corrections and clarifications ](/news/corrections-clarifications-1.5893564)\n\u00b7 [ Submit a news tip ](/news/email-cbc-contact-phone-tips-news-\nstory-1.6466536) \u00b7\n\n## Footer Links\n\n### My Account\n\n * [ Profile ](/account/login)\n * [ CBC Gem ](https://gem.cbc.ca/benefits/)\n * [ Newsletters ](https://subscriptions.cbc.ca/listmanagement)\n * [ About CBC Accounts ](/account/features)\n\n### Connect with CBC\n\n * [ Facebook ](https://www.facebook.com/cbc/)\n * [ X ](https://x.com/cbc/)\n * [ YouTube ](https://www.youtube.com/user/CBCtv)\n * [ Instagram ](https://www.instagram.com/cbc/?hl=en)\n * [ Mobile ](https://cbchelp.cbc.ca/hc/en-ca/categories/115000249853-Help-with-CBC-Apps)\n * [ RSS ](https://www.cbc.ca/rss/)\n * [ Podcasts ](/radio/podcasts)\n\n### Contact CBC\n\n * [ Submit Feedback ](https://cbchelp.cbc.ca/hc/en-ca/requests/new)\n * [ Help Centre ](https://cbchelp.cbc.ca/hc/en-ca)\n\nAudience Relations, CBC \nP.O. Box 500 Station A \nToronto, ON \nCanada, M5W 1E6\n\nToll-free (Canada only): \n1-866-306-4636\n\n### About CBC\n\n * [ Corporate Info ](https://cbc.radio-canada.ca/en)\n * [ Sitemap ](/sitemap)\n * [ Reuse & Permission ](https://cbchelp.cbc.ca/hc/en-ca/sections/203864688-Using-or-licensing-CBC-content)\n * [ Terms of Use ](https://cbc.radio-canada.ca/en/vision/governance/terms-of-use-digital-services)\n * [ Privacy ](https://www.cbc.ca/account/privacy)\n * * [ Jobs ](https://cbc.radio-canada.ca/en/working-with-us/jobs/)\n * [ Our Unions ](https://cbc.radio-canada.ca/en/vision/unions-associations)\n * [ Independent Producers ](https://www.cbc.ca/independentproducers/)\n * [ Political Ads Registry ](https://cbc.radio-canada.ca/en/impact-and-accountability/regulatory/political-ads-registry)\n * [ AdChoices ](https://youradchoices.ca)\n\n### Services\n\n * [ Ombudsman ](https://cbc.radio-canada.ca/en/ombudsman/)\n * [ Corrections and Clarifications ](https://www.cbc.ca/news/corrections-clarifications-1.5893564)\n * [ Public Appearances ](https://www.cbc.ca/news/public-appearances-1.4969965)\n * [ Commercial Services ](https://cbc.radio-canada.ca/en/services/commercial-services/)\n * [ CBC Shop ](https://www.cbcshop.ca/)\n * [ Doing Business with Us ](https://cbc.radio-canada.ca/en/working-with-us/partners-and-suppliers/)\n * [ Renting Facilities ](https://www.cbc.ca/productionfacilities/)\n * [ Radio Canada International ](https://ici.radio-canada.ca/rci/en)\n * [ CBC Lite ](https://www.cbc.ca/lite)\n\n### Accessibility\n\nIt is a priority for CBC to create products that are accessible to all in\nCanada including people with visual, hearing, motor and cognitive challenges.\n\nClosed Captioning and Described Video is available for many CBC shows offered\non [ CBC Gem ](https://gem.cbc.ca/) .\n\n * [ About CBC Accessibility ](/accessibility)\n * [ Accessibility Feedback ](/accessibility/accessibility-feedback-1.5131151)\n\n * [ ](https://cbc.radio-canada.ca/en)\n * \u00a9 2025 CBC/Radio-Canada. All rights reserved. \n * [ Visitez Radio-Canada.ca ](https://ici.radio-canada.ca/)\n\nnow\n\n",
"url": "https://www.cbc.ca/news/business/cronos-accounting-penalty-1.6628464"
},
"reason": "CBC News is a reputable Canadian news organization. The article reports on the accounting penalty levied against Cronos Group, providing a reliable overview of the situation.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "CBC News reports on the accounting penalty against Cronos Group.",
"url": "https://www.cbc.ca/news/business/cronos-accounting-penalty-1.6628464"
},
{
"content": {
"metadata": {
"ext_id": "6a344a27-984d-4717-a362-b07efe5bccfe",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\n_Leading Companies from Emerging Industries Join Forces to Efficiently Produce\nHigh-Purity Cannabinoids at Scale_\n\nBOSTON and TORONTO , Sept. 4, 2018 /CNW/ - Today, [ Cronos Group\n](https://thecronosgroup.com/) Inc. (NASDAQ:CRON) (TSX: CRON ) (\" **Cronos\nGroup** \"), a geographically diversified and vertically integrated cannabis\ngroup, and [ Ginkgo Bioworks ](https://www.ginkgobioworks.com/) Inc. (\"\n**Ginkgo** \"), the organism company, announced a landmark partnership to\nproduce cultured cannabinoids. Using its platform technology for organism\ndesign and development, Ginkgo will complement Cronos Group's technologies for\nproducing a full spectrum of cannabinoids. As part of this unprecedented deal,\nCronos Group has agreed to issue a specific number of common shares in\ntranches subject to Ginkgo's achievement of certain production milestones.\n\nGinkgo Bioworks (CNW Group/Cronos Group Inc.)\n\nAs two of the leading companies in their respective industries, Cronos Group\nand Ginkgo believe that they are best-suited to unlock the potential of\ninnovation in the cannabis industry. Cronos Group brings a deep understanding\nof the plant's biological structure and function, while Ginkgo brings 10 years\nof experience designing microorganisms for the production of cultured products\nacross pharmaceuticals, agriculture, flavors, fragrances, and more.\n\nCannabinoids span a range of molecules with different properties, and ongoing\nresearch has demonstrated potential medicinal uses for indications such as\nchronic pain, nervous disorders, nausea, weight loss, and some mental\nillnesses. However, many pharmaceutically relevant cannabinoids are present\nonly at very low quantities in the cannabis plant, making them economically\nimpractical, difficult or impossible to extract at high purity and scale. The\nlandmark partnership between Cronos Group and Ginkgo will leverage the\nexpertise of both organizations to solve this challenge and make more\naccessible the benefits of cannabinoids in an economically sustainable way.\n\n\"Cronos Group is building the world's most innovative cannabinoid platform,\"\nsaid Mike Gorenstein , CEO of Cronos Group. \"The potential uses of\ncannabinoids are vast, but the key to successfully bringing cannabinoid-based\nproducts to market is in creating reliable, consistent, and scalable\nproduction of a full spectrum of cannabinoids, not just THC and CBD. We are\nthrilled to partner with Ginkgo; their biological engineering capabilities and\ndisruptive technology platform are unrivaled. Together we can revolutionize\nthe cannabis industry.\"\n\n\"Legal cannabis is a multibillion-dollar industry with no signs of slowing\ndown, but providers will need to innovate to keep up with demand for better\nproducts, including those taking advantage of rare and difficult to extract\ncannabinoids,\" said Jason Kelly , CEO and co-founder of Ginkgo Bioworks.\n\"Engineering strains of yeast that can produce these cannabinoids via\nfermentation is a perfect fit for our organism design platform and we are\nexcited to be working with Cronos Group as they lead the way to high-quality\ncannabinoid treatments.\"\n\n**Partnership Details**\n\nCronos Group's wide-ranging portfolio of cannabis products is empowered by its\ndeep expertise in plant genetics. With access to an array of varietals and a\ndiverse set of production methodologies, Cronos Group has gathered extensive\ndata on cannabinoids and their properties, ultimately learning from and using\nthe plant to generate blueprints for best-in-class, full spectrum cannabinoid\nrecipes.\n\nGinkgo's platform for engineering biology is powered by state-of-the-art\nautomation and custom-built software used to design and print DNA. With the\nworld's largest library of designed DNA sequences, Ginkgo has extensive\nexpertise in the biology of enzymes for the production of molecules used in\nindustries from flavor and fragrance to food to pharmaceuticals. By\ntransferring the DNA sequences for cannabinoid production into yeast, Ginkgo\nexpects to develop strains that produce cultured cannabinoids at high quality\nand purity in a process similar to brewing beer in a microbrewery. In addition\nto allowing for the efficient and scalable production of cannabinoids, the use\nof Ginkgo's platform is expected to unlock access to potentially medically-\nimportant and valuable cannabinoids that are present only in low quantities in\nthe plant.\n\nThe partnership between Ginkgo and Cronos Group will focus on the scalable and\nconsistent production of a wide range of cannabinoids, including THC, CBD and\na variety of other lesser known and rarer products. These cultured cannabinoid\nmolecules are identical to those extracted from the plants grown with\ntraditional methods, but are created by leveraging the power of biological\nmanufacturing via fermentation.\n\n**Partnership Transaction Terms**\n\nUnder the exclusive partnership, Ginkgo will work with Cronos Group on\nresearch and development of microorganisms capable of producing certain target\ncannabinoids in a scalable and highly efficient manner. Cronos Group will fund\ncertain R&D and foundry expenses expected to be approximately US$22 million\nsubject to the achievement of certain milestones. In addition, upon Ginkgo's\ndemonstration that the microorganisms are capable of producing the target\ncannabinoids above a minimum productivity level, Cronos Group will issue up to\napproximately 14.7 million common shares in the aggregate, in accordance with\nthe milestone allocations described below. The common shares allocated were\nbased on the 60-day VWAP for Cronos Group common stock of US$6.81 as of\nJuly 17, 2018 , when the letter of intent was executed by both parties. The\ntransaction had an aggregate value of US$100 million assuming all milestones\nare met. Tranches of these common shares will be issued once each of the\ntarget cannabinoids can be produced for less than US$1,000 per kilogram of\npure cannabinoid at a scale of greater than 200 liters as follows: THC(A),\n20%; CBD(A), 15%; CBC(A), 10%; CBG(A), 10%; THCV(A), 15%; CBGV(A), 10%;\nCBDV(A), 10%; CBCV(A), 10%.\n\nCronos Group will have the exclusive right to use and commercialize the key\npatented intellectual property related to the production of the target\ncannabinoids globally. All R&D work undertaken by Ginkgo will be conducted in\ncompliance with all U.S. federal laws regarding controlled substances and\nGinkgo is coordinating activities closely with both Federal and State\nagencies. Cronos Group intends to produce and distribute the target\ncannabinoids globally and has received confirmation that this method of\nproduction is permitted under the _Cannabis Act_ ( Canada ) \u2013 the legal\nframework that will regulate cannabis in Canada .\n\nThis landmark deal will bring the power of biological manufacturing to the\ncannabis industry, allowing for cannabinoid production at large scale and with\ngreater efficiency than is currently possible with traditional growing and\nextracting methods.\n\n**Analyst/Investor Conference Call and Webcast** \nCronos Group and Ginkgo Bioworks will host a conference call and live webcast\non Tuesday, September 4, 2018 at 8:30 a.m. EST to discuss the landmark\npartnership. Instruction for the conference call are provided below:\n\n_Live Webcast:_ [ https://thecronosgroup.com/investor-relations\n](https://thecronosgroup.com/investor-relations) \n_Toll-free dial-in number:_ (888) 231-8191 _ \nInternational dial-in number: _ (647) 427-7450 \n_Conference ID:_ 9537928\n\nAdditionally, an audio replay of the conference call will be available two\nhours after the call's completion and until 11:59 p.m. EST on September 18,\n2018 . Instructions for the audio replay are provided below:\n\n_Toll-free dial-in number:_ (855) 859-2056 \n_Passcode:_ 9537928\n\n**About Ginkgo Bioworks:** \nGinkgo Bioworks is the organism company, using the power of biology to build\nsustainable products in food, pharma, manufacturing, and more. Using\nsophisticated software and state of the art automation,\n\nGinkgo's powerful platform for genetic engineering is making biology easier to\nengineer, enabling new products to be renewably manufactured with biology. For\nmore information, visit [ www.ginkgobioworks.com\n](http://www.ginkgobioworks.com/) .\n\n**About Cronos Group: \n** Cronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across four continents. Cronos Group operates two\nwholly-owned Canadian licensed producers regulated under Health Canada's\nAccess to Cannabis for Medical Purposes Regulations: Peace Naturals Project\nInc., which was the first non-incumbent medical cannabis license granted by\nHealth Canada, and Original BC Ltd., which is based in the Okanagan Valley,\nBritish Columbia . Cronos Group has multiple international production and\ndistribution platforms across five continents. Cronos Group intends to\ncontinue to rapidly expand its global footprint as it focuses on building an\ninternational iconic brand portfolio and develop disruptive intellectual\nproperty. Cronos Group is committed to building industry leading companies\nthat transform the perception of cannabis and responsibly elevate the consumer\nexperience.\n\n**Forward-looking statements \n** This news release contains \"forward-looking information\" and \"forward-\nlooking statements\" within the meaning of applicable Canadian and U.S.\nsecurities laws. All information contained herein that is not clearly\nhistorical in nature may constitute forward-looking information. In some\ncases, forward-looking statements can be identified by words or phrases such\nas \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify forward-looking statements. Some of the\nforward-looking statements contained in this press release include Cronos\nGroup's expectations regarding the potential success of, and the costs and\nbenefits associated with, its partnership with Ginkgo, expectations about the\ndevelopment of the cannabis industry and potential demand for cultured\ncannabinoids, expectations of the regulatory framework for cultured\ncannabinoids as well as the Cronos Group's intention to continue to rapidly\nexpand its global footprint, build an international iconic brand portfolio and\ndevelop disruptive intellectual property. Forward-looking statements are\nnecessarily based upon a number of estimates and assumptions that, while\nconsidered reasonable by management, are inherently subject to significant\nbusiness, economic and competitive risks, uncertainties and contingencies that\nmay cause actual financial results, performance or achievements to be\nmaterially different from the estimated future results, performance or\nachievements expressed or implied by those forward-looking statements and the\nforward-looking statements are not guarantees of future performance. A\ndiscussion of some of the material risks applicable to Cronos Group can be\nfound in its current MD&A and Annual Information Form, both of which have been\nfiled on SEDAR and can be accessed at [ www.sedar.com ](http://www.sedar.com/)\n. The forward-looking information included in this news release is made as of\nthe date of this news release and, except as required by law, Cronos Group\ndisclaims any obligation to update or revise any forward-looking statements.\nReaders are cautioned not to put undue reliance on these forward-looking\nstatements.\n\nSOURCE Cronos Group Inc.\n\nThe Cronos Group, Anna Shlimak, Investor Relations, Tel: (416) 504-0004, [\n[email protected] ](/cdn-cgi/l/email-protection) ; Ginkgo Bioworks, Grace\nEmery, Media relations, 347-230-6640, [ [email protected] ](/cdn-cgi/l/email-\nprotection)\n\n#### Related Links\n\n[ thecronosgroup.com ](http://thecronosgroup.com \"Link to\nhttp://thecronosgroup.com\") \n\n### Modal title\n\n## Organization Profile\n\n### [ Cronos Group Inc. ](/news/cronos-group-inc/)\n\n## Related Organization(s)\n\n### [ Ginkgo Bioworks ](/news/ginkgo-bioworks/)\n\n## Contact Cision\n\n * [ 866-245-2317 ](tel:866-245-2317) from 8 AM - 10 PM ET \n\n * [ Become a Client ](/contact-us/ \"Become a Client\")\n * [ Request a Demo ](/request-a-demo/ \" Request a Demo \")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \" Editorial Bureaus \")\n * [ Partnerships ](/contact-us/partnerships/ \" Partnerships \")\n * [ General Enquiries ](/general-inquiries/ \" General Enquiries \")\n * [ Media ](/contact-us/media/ \" Media\")\n\n[ ](https://www.linkedin.com/company/cisioncanada/ \"LinkedIn\")\n\n## Products\n\n * [ Cision Communications Cloud\u00ae ](https://www.newswire.ca/products/communications-cloud \"Cision Communications Cloud\u00ae\")\n * [ Media Monitoring ](https://www.cision.ca/monitoring-analytics/online/ \"Media Monitoring\")\n * [ Content Distribution ](https://www.newswire.ca/products/content-distribution \"Content Distribution\")\n * [ Multimedia Distribution ](https://www.newswire.ca/products/multimedia-distribution-options \"Multimedia Distribution\")\n * [ Measurement & Analytics ](https://www.newswire.ca/products/Media-Measurement--Analytics \"Measurement & Analytics\")\n * [ Investor Relations ](https://www.newswire.ca/products/investor-relations \"Investor Relations\")\n\n## About\n\n * [ About Cision Canada ](http://cnw.en.mediaroom.com/aboutus/ \"About Cision Canada\")\n * [ About Cision ](http://www.cision.ca/ \"About Cision\")\n * [ Media Partners ](https://www.newswire.ca/contact-us/media-partners.html \"Media Partners\")\n * [ Careers ](https://www.cision.ca/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.ca/about/accessibility/ \"Accessibility Statement\")\n * \n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/en/ \"Canada\")\n * [ Czech ](https://www.prnewswire.com/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](https://www.prnewswire.com/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](https://www.prnewswire.com/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](https://www.prnewswire.com/fr/communiques-de-presse/ \"France\")\n * [ Germany ](https://www.prnewswire.com/de/pressemitteilungen/ \"Germany\")\n * [ India ](https://www.prnewswire.com/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](https://www.prnewswire.com/il/news-releases/ \"Israel\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](https://www.prnewswire.com/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](https://www.prnewswire.com/nl/persberichten/ \"Netherlands\")\n * [ Norway ](https://www.prnewswire.com/no/pressemeldinger/ \"Norway\")\n * [ Poland ](https://www.prnewswire.com/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](https://www.prnewswire.com/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](https://www.prnewswire.com/ru/press-releases/ \"Russia\")\n * [ Slovakia ](https://www.prnewswire.com/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](https://www.prnewswire.com/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](https://www.prnewswire.com/sv/pressmeddelanden/ \"Sweden\")\n * [ United States ](https://www.prnewswire.com/ \"United States\")\n * [ Vietnam ](https://www.prnewswire.com/vn/ \"Vietnam\")\n\n## My Services\n\n * [ All News Releases ](/news-releases/news-releases-list/ \"All News Releases\")\n * [ Online Member Centre \n](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre<br />\n\n\")\n\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud\u00ae ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\u00ae\")\n * [ my CNW \n](/mycnw/login/ \"my CNW<br />\n\n\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact Cision ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](http://cnw.en.mediaroom.com/aboutus/)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Centre ](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre\")\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\")\n * [ my CNW ](/mycnw/login/ \"my CNW\")\n\n[ __ 877-269-7890 \nfrom 8 AM - 10 PM ET ](tel:877-269-7890 \"Contact Us\")\n\n * [ Terms of Use ](http://cnw.en.mediaroom.com/privacy-terms-of-use \"Terms of Use\")\n * [ Information Security Policy ](/cision-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\nCopyright \u00a9 2025 CNW Group Ltd. All Rights Reserved. A Cision company.\n\n",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"reason": "This is a press release from a reputable source (Newswire.ca) announcing a partnership between Cronos Group and Ginkgo Bioworks. The information is likely accurate but may present a slightly positive view.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group and Ginkgo Bioworks announce a landmark partnership to produce cultured cannabinoids.",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
{
"content": {
"metadata": {
"ext_id": "01e30d3e-ac51-4e53-9dd6-f18233babd53",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://thecronosgroup.com/"
},
"page_content": "Skip to content\n\n## A Global \nCannabinoid Company\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae .\n\n[ Explore Brands _arrow_forward_ ](/brands/) Explore Solutions \u2192\n\n# About\n\n## Us\n\n## Mission\n\nBuild brands and create products that enhance experiences\n\n## Vision\n\nTake experiences to new highs\n\n## Values\n\nAt the heart of Cronos are our values. They are the principles that steer our\nactions and define our character. They represent who we are, how we operate,\nand the reputation we aspire to build and maintain within the industry and all\nour stakeholders who help shape it.\n\n## Community\n\nWe believe in building and supporting a fair and equitable industry.\n\n## Fun\n\nWe believe in creating your favorite products through innovation and\nimagination.\n\n## Responsibility\n\nWe believe our products are for adults* (*Adults are those of the legal age of\nconsumption in the relevant jurisdiction).\n\n## Quality\n\nWe believe in elevating industry practices to provide quality products focused\non reliability and transparency.\n\n# The\n\n## Team\n\nOur management team comprises experts in their fields, with a goal to\nestablish the most valuable international cannabis company. They are\npassionate, daring people, driven by quality and integrity, who are determined\nto write history, not read about it.\n\nMike Gorenstein\n\nAnna Shlimak\n\nJeff Jacobson\n\nShannon Buggy\n\nTerry Doucet\n\nArye Weigensberg\n\nAdam Wagner\n\nMike Gorenstein __\n\n# Mike Gorenstein\n\n#### Chairman, President and Chief Executive Officer\n\nMike Gorenstein serves as Cronos Group\u2019s Chairman, President and Chief\nExecutive Officer, he also serves as Chairman of Cronos Group\u2019s Board of\nDirectors. In addition, Mr. Gorenstein is a Co-Founder and passive Member of\nGotham Green Partners. Before joining Cronos, Mike was the Vice President and\nGeneral Counsel at Alphabet Partners, LP, a New York City based multi-strategy\ninvestment management firm, focused on identifying mispriced assets across\nvarious industries, asset classes and geographies. Prior to Alphabet Partners,\nLP, he was a corporate attorney at Sullivan & Cromwell LLP, where he focused\non mergers and acquisitions and capital markets transactions. Mike graduated\nfrom the University of Pennsylvania Law School with a Juris Doctor, the\nWharton School at University of Pennsylvania with a certificate in Business\nEconomics and Public Policy and the Kelley School of Business at Indiana\nUniversity with a Bachelor of Science of Business in Finance.\n\nAnna Shlimak __\n\n# Anna Shlimak\n\n#### Chief Financial Officer\n\nAnna serves as Cronos\u2019 Chief Financial Officer. Anna recently served as the\nCompany\u2019s Chief Strategy Officer and was responsible for managing and\ndirecting the organization\u2019s corporate strategy, investor relations,\ncommunications, government affairs, and information systems departments. Prior\nto joining Cronos, Anna was the Head of Investor Relations at Quest Partners\nLLC, a research-driven alternative investment firm. Anna was responsible for\nbusiness development, investor reporting, marketing, and communication\ninitiatives for the fund. Before that, Anna held a range of roles at the New\nYork Stock Exchange in both the New York and London offices. She received a\nMaster of Business Administration from Columbia Business School and holds a\nBachelor of Science in Economics from The Wharton School at the University of\nPennsylvania.\n\nJeff Jacobson __\n\n# Jeff Jacobson\n\n#### Chief Growth Officer\n\nAs Chief Growth Officer, Jeff leads the Marketing, Innovation, Operations and\nSales team in North America as well as the Consumer Insights and Data\nAnalytics teams for Cronos Group\u2019s global business. Jeff sets the strategy for\nour brands and is responsible for leading our global teams to help execute\nCronos Group\u2019s vision. Jeff previously served as Cronos Group\u2019s General\nManager of Canada and Europe. Before joining Cronos Group, Jeff founded a\nToronto based marketing agency and successfully launched and licensed several\ninnovative software products in the mobile industry. As a co-founder of Peace\nNaturals, Jeff\u2019s expertise and experience in licensing and compliance, new\nbusiness development, project management and resource management help Cronos\nGroup lead in a variety of markets.\n\nShannon Buggy __\n\n# Shannon Buggy\n\n#### Senior Vice President, Global Head of People\n\nShannon serves as the SVP, Global Head of People for Cronos Group where she\nleads HR strategy across the Company\u2019s global operations. Prior to Cronos\nGroup, Shannon was the Senior Vice President of Global Human Resources for\nNielsen where she led HR strategy for Nielsen Media. With over 25 years of\nexperience, Shannon has a proven track record of leading and managing global\nhuman resources teams and driving excellence in talent acquisition,\ndevelopment, retention, employee relations, compensation, benefits, talent\nmanagement and labor relations. Shannon holds a certification as a Senior\nProfessional in Human Resources from the HR Certification Institute. She\ngraduated magna cum laude with a Bachelor of Science degree in Human Resources\nManagement from the Pace University, Lubin School of Business.\n\nTerry Doucet __\n\n# Terry Doucet\n\n#### General Counsel and Corporate Secretary\n\nTerry Doucet serves as Cronos Group\u2019s General Counsel and Corporate Secretary.\nIn this capacity, he manages all legal and regulatory affairs at Cronos Group\nand also serves as the Company\u2019s Corporate Secretary. Prior to joining Cronos,\nTerry was a corporate lawyer at Davies Ward Phillips & Vineberg LLP in\nToronto, where he focused primarily on M&A in large, complex and cross-border\ntransactions across numerous industries, as well as securities, corporate\nfinance and lending transactions. During that time, Terry was also seconded to\nRBC Capital Markets, where he supported the bank\u2019s derivative trading desks.\nTerry is an Ontario-qualified lawyer, holding a Juris Doctor from the\nUniversity of Toronto and a joint honours (first class) Bachelor of Arts\ndegree from McGill University in Montreal.\n\nArye Weigensberg __\n\n# Arye Weigensberg\n\n#### Head of Research and Development\n\nAs Head of Research and Development, Arye is responsible for leading Cronos\u2019\ninnovation program, where he oversees research and technology functions, and\nleads scientific efforts to unlock the potential of rare cannabinoids. Before\njoining Cronos, Arye was the CEO of Altria Israel Ltd, an Altria research and\ndevelopment innovation hub. Arye joined Altria as part of its acquisition of\nGreen Smoke, where he was the Director of Marketing and Brand Management.\nPrior to Green Smoke, Arye held a variety of roles in brand management and\nmarketing, supporting food brands such as Manischewitz, Lawry\u2019s, Ragu, Knorr\nand Country Crock. Arye graduated from Concordia University\u2019s John Molson\nSchool of Business with a Bachelor of Commerce in Marketing and International\nBusiness.\n\nAdam Wagner __\n\n# Adam Wagner\n\n#### SVP, Head of Cronos Israel\n\nAdam Wagner serves as Senior Vice President, Head of Cronos Israel. Adam\noversees the business and strategy of Cronos Israel. Before he was appointed\nas Head of Cronos Israel, he was the VP of Finance at Cronos Israel where he\noversaw the regional Israel finance department, including FP&A,\ncontrollership, audit, treasury, tax, as well as IT, supply chain and\nprocurement . Before joining Cronos, Adam worked as a Director of Finance at\nMotus GI, a publicly traded medical device company, where he oversaw the\nIsrael-based finance department. Before that, Adam was a Finance Manager at\nMedtronic, a publicly traded medical equipment manufacturer, where he oversaw\nthe Israel-based finance department functions. Prior to Medtronic\u2019s\nacquisition, he was the Corporate Controller for Mazor Robotics, a dual-listed\npublic medical device company. Adam began his career as a Senior Auditor at EY\nwhere he managed a team that performed audits for various publicly traded and\nprivate companies. Adam also serves as a Finance expert on an advisory board\nfor a wellness and healthcare start-up. Adam is a CPA (Israel) and studied\nAccounting at Bar-Ilan University. Adam also holds a Bachelor\u2019s Degree in\nScience of Nutrition and his Master of Science in Genetics and Biochemistry\nfrom Tel Aviv University.\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\n[ Facebook ](https://www.facebook.com/cronosgroupoffical) [ X-twitter\n](https://twitter.com/cronosgroup) [ Linkedin\n](https://www.linkedin.com/company/cronos-group-cron/?viewAsMember=true)\n\n\u00a9 2024 The Cronos Group. All rights reserved.\n\nFacebook X-twitter Linkedin\n\n",
"url": "https://thecronosgroup.com/"
},
"reason": "This is the official website of The Cronos Group, providing direct information about the company, its products, and its operations. It is a primary and highly reliable source.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Official website of The Cronos Group.",
"url": "https://thecronosgroup.com/"
},
{
"content": {
"metadata": {
"ext_id": "dce08bec-3fc2-4a0b-b0a3-6d9ad0f99ce7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
},
"page_content": "Skip to main content\n\n * [ TSX 0.69 % ](https://www.theglobeandmail.com/investing/markets/indices/TXCX/)\n * [ S&P 500 1.67 % ](https://www.theglobeandmail.com/investing/markets/indices/INX/)\n * [ DOW 1.07 % ](https://www.theglobeandmail.com/investing/markets/indices/DOWI/)\n * [ NASDAQ 2.5 % ](https://www.theglobeandmail.com/investing/markets/indices/NASX/)\n * [ Oil 1.06 % ](https://www.theglobeandmail.com/investing/markets/commodities/CL*0/)\n * [ Dollar 0.19 % ](https://www.theglobeandmail.com/investing/markets/currencies/CADUSD/)\n * [ Gold 1.42 % ](https://www.theglobeandmail.com/investing/markets/commodities/GC*0/)\n * [ tsx movers: ](/investing/markets/stocks/)\n * [ WCP-T -1.84 % ](https://www.theglobeandmail.com/investing/markets/stocks/WCP-T/)\n * [ CNQ-T -0.74 % ](https://www.theglobeandmail.com/investing/markets/stocks/CNQ-T/)\n * [ BTE-T -2.56 % ](https://www.theglobeandmail.com/investing/markets/stocks/BTE-T/)\n * [ BMO-T \\+ 0.44 % ](https://www.theglobeandmail.com/investing/markets/stocks/BMO-T/)\n\nThis section contains press releases and other materials from third parties\n(including paid content). The Globe and Mail has not reviewed this content.\nPlease see [ disclaimer ](https://www.theglobeandmail.com/privacy-\nterms/disclaimer/) .\n\n# Cronos Group Inc. to Hold 2024 Fourth Quarter and Full-Year Earnings\nConference Call on February 27, 2025\n\nCronos Group Inc. - [ GlobeNewswire ](https://www.globenewswire.com/) \\- Mon\nFeb 24, 3:45PM CST\n\nTORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2024 fourth-quarter and\nfull-year earnings conference call on Thursday, February 27, 2025 at 8:30 a.m.\nET. Cronos\u2019 senior management team will discuss the Company\u2019s financial\nresults and will be available for questions from the investment community\nafter prepared remarks.\n\nTo attend the conference call or webcast, participants should register online\nat [ https://ir.thecronosgroup.com/events-presentations\n](https://ir.thecronosgroup.com/events-presentations) . To avoid delays, we\nencourage participants to dial into the conference call fifteen minutes ahead\nof the scheduled start time. The webcast of the call will be archived for\nreplay on the Company\u2019s website.\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: [ thecronosgroup.com ](https://thecronosgroup.com/) .\n\n**Forward-looking Statements**\n\nThis press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about Cronos\u2019 intention to build an international\niconic brand portfolio and develop disruptive intellectual property. Forward-\nlooking Statements are necessarily based upon a number of estimates and\nassumptions that, while considered reasonable by management, are inherently\nsubject to significant business, economic and competitive risks, financial\nresults, results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2023 and Quarterly Reports on Form 10-Q\nfor the quarters ended March 31, 2024, June 30, 2024, and September 30, 2024,\neach of which have been filed on SEDAR+ and EDGAR and can be accessed at\nwww.sedarplus.ca and www.sec.gov/edgar, respectively. Any Forward-looking\nStatement included in this press release is made as of the date of this press\nrelease and, except as required by law, Cronos disclaims any obligation to\nupdate or revise any Forward-looking Statement. Readers are cautioned not to\nput undue reliance on any Forward-looking Statement.\n\n**Cronos Contact** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\n**_This article contains syndicated content. We have not reviewed, approved,\nor endorsed the content, and may receive compensation for placement of the\ncontent on this site. For more information please view the Barchart Disclosure\nPolicy[ here ](https://www.barchart.com/terms#disclosure) . _ **\n\nAll [ market data (will open in new tab)\n](https://www.barchart.com/solutions/data/market) is provided by Barchart\nSolutions. Copyright \u00a9 2025 .\n\nInformation is provided 'as is' and solely for informational purposes, not for\ntrading purposes or advice. For exchange delays and terms of use, please read\n[ disclaimer (will open in new tab)\n](https://www.barchart.com/solutions/company/terms-and-privacy) .\n\n * [ Terms & Conditions ](/privacy-terms/terms-and-conditions/?intcmp=footer)\n * [ Community Guidelines ](/privacy-terms/community-guidelines/?intcmp=footer)\n * [ Privacy Policy ](/privacy-terms/privacy-policy/?intcmp=footer)\n * [ Disclaimer ](/privacy-terms/disclaimer/?intcmp=footer)\n\nSkip footer navigation\n\n * Subscribe \n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n * Business services \n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n * Contact us \n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n * Reader services \n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n * About us \n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\n## Subscribe\n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n## Business services\n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n## Contact us\n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n## Reader services\n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n## About us\n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\nReturn to start of footer navigation\n\n[ ](https://itunes.apple.com/ca/app/the-globe-and-mail-news/id429228415?mt=8)\n[\n](https://play.google.com/store/apps/details?id=com.theglobeandmail.headliner&hl=en)\n\n[ ](https://news.google.com/publications/CAAqBwgKMNLRigEwpPYu) [\n](https://apple.news/T8DrF3Bh5SHCSfJ2qlK1scA) [\n](https://twitter.com/globeandmail) [ ](https://www.linkedin.com/company/the-\nglobe-and-mail/) [ ](https://www.youtube.com/user/TheGlobeandMail) [\n](https://www.tiktok.com/@globeandmail) [\n](https://www.facebook.com/theglobeandmail) [\n](https://instagram.com/globeandmail) [\n](https://story.snapchat.com/p/f9c37a38-b555-4c37-a97a-598423457108)\n\n\u00a9 Copyright 2025 The Globe and Mail Inc. All rights reserved.\n\n351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1\n\nAndrew Saunders, President and CEO\n\n *[\n ON\n ]: Ontario\n\n",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
},
"reason": "This is a press release distributed via The Globe and Mail, announcing Cronos Group's upcoming earnings call. It's a reliable source for this specific information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Cronos Group Inc. to hold 2024 fourth-quarter and full-year earnings conference call on February 27, 2025, according to The Globe and Mail.",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31087295/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025/"
},
{
"content": {
"metadata": {
"ext_id": "c3084079-6755-4493-9ee6-a776aabddb26",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
"page_content": "Skip to content\n\n# Settlement Agreement: In the Matter of Cronos Group Inc. and William Hilson\n\nOctober 19, 2022\n\nSettlement Agreement\n\n[ Download PDF ](/sites/default/files/2022-10/set_20221019_cronos.pdf \"Open\nPDF in new window\")\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\n#### SETTLEMENT AGREEMENT\n\n#### PART I -- INTRODUCTION\n\n1\\. Ontario companies strive to be world leaders in the cannabis space. When\npublic cannabis companies issue financial statements that do not provide\naccurate information about their financial performance and condition and fail\nto have adequate controls, they undermine confidence in Ontario's capital\nmarkets and leadership in the cannabis space.\n\n2\\. Cronos Group Inc., an Ontario-based public cannabis company, is being held\naccountable for improperly recognizing $7.6 million (US $5.8 million) in\nrevenue in its Q1, Q2 and Q3 2019 interim financial statements and for\nsubsequently overstating virtually all of its U.S. goodwill and a significant\nportion of its U.S. intangible assets by a collective amount of $234.9 million\nin its Q2 2021 interim financial statements.\n\n3\\. Cronos restated its Q1, Q2 and Q3 2019 interim financial statements to\ncorrect the revenue recognition error upon determining that they had not been\nprepared in accordance with generally accepted accounting principles (\n**GAAP** ). The Company again restated its interim financial statements, this\ntime for Q2 2021, to correct its failure to recognize impairment charges for\ngoodwill and intangible assets relating to the U.S. reporting unit. In both\ninstances, Cronos reported related material weaknesses in internal control\nover financial reporting ( **ICFR** ).\n\n4\\. The parties will jointly file a request that the Capital Markets Tribunal\n(the **Tribunal** ) issue a Notice of Hearing to announce it will hold a\nhearing to consider whether, pursuant to section 127 of the _Securities Act_ ,\nRSO 1990, c S.5 (the **Act** ), it is in the public interest for the Tribunal\nto make certain orders against the Respondent.\n\n#### PART II -- JOINT SETTLEMENT RECOMMENDATION\n\n5\\. Cronos Group Inc. ( **Cronos** , the **Company** , or the **Respondent**\n), consents to the making of an order (the **Order** ) substantially in the\nform attached as Schedule \"A\" to this Settlement Agreement based on the facts\nset out in this Settlement Agreement.\n\n6\\. For the purposes of this proceeding, and any other regulatory proceeding\ncommenced by a Canadian securities regulatory authority only, the Respondent\nagrees with the facts set out in Part III of this Settlement Agreement and the\nconclusion in Part IV of this Settlement Agreement.\n\n#### PART III -- AGREED FACTS\n\n**A. Cronos Uncovers Revenue Recognition Errors in Financial Reporting**\n\n7\\. On February 24, 2020, Cronos publicly announced that it was delayed in\ncompleting its 2019 annual financial statements and that it would delay its\n2019 fourth quarter and full-year earnings release and conference call.\n\n8\\. Cronos is a licensed cannabis producer in Canada with international\nproduction and distribution. The Company is listed on the TSX (CRON) and\nNASDAQ (CRON) with a market capitalization of $1.19 billion as of August 29,\n2022. Cronos's brand portfolio includes Peace Naturals, Spinach and hemp-\nderived CBD brands, Lord Jones, Happy Dance and Peace+.\n\n9\\. On March 2, 2020, Cronos disclosed that it filed a Form 12b-25\n(Notification of Late Filing) with the U.S. Securities and Exchange Commission\n( **SEC** ) for a 15-day extension of the due date to file its Form 10-K for\nthe year ended December 31, 2019. The Company disclosed that it had been\nunable to complete its financial statements for fiscal 2019 due to a\ncontinuing review by the Audit Committee (the **Audit Committee** ) of the\nCompany's Board of Directors (the **Board** ), with the assistance of outside\ncounsel and forensic accountants, of several bulk resin purchases and sales of\nproducts through the wholesale channel (the **Transactions)** and the\nappropriateness of the recognition of revenue from the Transactions.\n\n10\\. On March 17, 2020, Cronos filed a Material Change Report with the OSC and\nannounced that, on the recommendation of its Audit Committee and after\nconsultation with its auditors, its previously issued unaudited interim\nfinancial statements for the first, second and third quarters of 2019 would be\nrestated and reissued and should no longer be relied upon.\n\n11\\. The Company disclosed that its Audit Committee had been conducting a\nreview of the Transactions and the restatement was being made to eliminate\ncertain of these transactions. It announced that it would reduce revenue by\n$2.5 million (US $1.9 million) for the three months ended March 31, 2019, and\nby $5.1 million (US $3.9 million) for the three months ended September 30,\n2019. The Company further disclosed that, in connection with the restatement,\nit anticipated that it would report one or more material weaknesses in ICFR\nwhen it filed its Form 10-K.\n\n12\\. On March 30, 2020, the Company announced that the Audit Committee had\ncompleted its review of the Transactions and that the Board had determined, on\nthe recommendation of the Audit Committee and advice from its auditor, that\nthe Company would restate its unaudited interim financial statements for the\nfirst, second and third quarters of 2019.\n\n13\\. Cronos filed the restated interim financial statements on March 30, 2020.\n\n14\\. The restated interim financial statements disclosed that the Audit\nCommittee review had concluded that there were accounting errors in the\npreviously issued interim financial statements for the first and third\nquarters of 2019 (Q1 2019 and Q3 2019, respectively). In particular, the\nCompany reduced revenue for the three months ended March 31, 2019, by $2.5\nmillion (US $1.9 million) and the three months ended September 30, 2019, by\n$5.1 million (US $3.9 million).\n\n**a. Q1 2019 Revenue Recognition Errors**\n\n15\\. In the three months ended March 31, 2019, the revenue recognition error\nwas due to one wholesale transaction that was inappropriately accounted for as\nrevenue in the Company's originally issued interim financial statements for Q1\n2019. The transaction involved the exchange of cannabis dry flower for\ncannabis resin, with a third party, in two simultaneous transactions entered\ninto in contemplation of one another.\n\n16\\. This transaction did not meet the criteria for revenue recognition in\naccordance with GAAP, in this case International Financial Reporting Standards\n( **IFRS** ). The standard applicable to revenue recognition for the\ntransaction was IFRS 15, _Revenue from Contracts with Customers._\n\n17\\. This transaction lacked commercial substance and therefore revenue should\nnot have been recognized. As a result, Cronos had overstated revenue by\napproximately $2.5 million (US $1.9 million) on the Consolidated Statements of\nOperations and Comprehensive Income (Loss) in the original Q1 2019 interim\nfinancial statements.\n\n**b. Q3 2019 Revenue Recognition Errors**\n\n18\\. During the three months ended September 30, 2019, there was a similar\nwholesale transaction involving the exchange of cannabis dry flower for\ncannabis extracts in three simultaneous transactions which were entered into\nin contemplation of one another with the same third party.\n\n19\\. This transaction did not meet the criteria for revenue recognition in\naccordance with GAAP, in this case IFRS. This transaction lacked commercial\nsubstance and therefore revenue should not have been recognized. As a result,\nCronos had overstated revenue by approximately $2.1 million (US $1.6 million)\non the Consolidated Statements of Operations and Comprehensive Income (Loss)\nin the original interim financial statements for the three and nine months\nended September 30, 2019.\n\n20\\. During the three months ended September 30, 2019, there was a further\nwholesale transaction for a sale of dried cannabis to a different third party\nfor which revenue was improperly recognized.\n\n21\\. This further wholesale transaction did not meet the criteria for revenue\nrecognition in accordance with IFRS 15 because it was deemed to be a\nconsignment sale and lacked commercial substance. As a result, Cronos had\noverstated revenue by approximately $3.0 million (US $2.3 million) on the\nConsolidated Statements of Operations and Comprehensive Income (Loss) in the\nQ3 2019 interim financial statements.\n\n**c. Material Weaknesses in ICFR: March 2020**\n\n22\\. On March 30, 2020, the Company filed Amended and Restated Management's\nDiscussion and Analysis of Financial Condition and Results of Operations (\n**MD &A ** ) for the first, second and third quarters of 2019.\n\n23\\. Each of the MD&A for the first, second and third quarters of 2019\ndisclosed that as of the end of the reporting period, due to material\nweaknesses, ICFR was not effective to provide reasonable assurance regarding\nthe reliability of financial reporting and the preparation of financial\nstatements in accordance with applicable accounting standards.\n\n24\\. A material weakness is a deficiency, or combination of deficiencies in\nICFR, such that there is a reasonable possibility that a material misstatement\nof the Company's annual or interim financial statements will not be prevented\nor detected on a timely basis.\n\n25\\. Cronos identified material weaknesses in the following areas:\n\n> (a) _Segregation of Duties_ : The Company did not maintain adequately\n> designed controls on segregation of purchase and sale responsibilities to\n> ensure accurate recognition of revenue in accordance with IFRS;\n>\n> (b) _Non-Routine Transactions_ : The Company's controls were not effective\n> to ensure that non-routine transactions, including deviations from\n> contractually established sales terms, were authorized, communicated,\n> identified, and evaluated for their potential effect on revenue recognition;\n> and\n>\n> (c) _Risk Assessment:_ The Company did not appropriately design controls to\n> monitor and respond to changes in its business in relation to their\n> transactions in the wholesale market.\n\n26\\. Because of the segregation of duties and non-routine transaction\ndeficiencies, the Company restated its interim financial statements in respect\nof the Transactions to correct the identified misstatements. While the risk\nassessment deficiency did not directly result in a misstatement, it was a\ncontributing factor in the other material weaknesses described above.\n\n27\\. Together, these deficiencies created a reasonable possibility that a\nmaterial misstatement to the consolidated financial statements would not have\nbeen prevented or detected on a timely basis.\n\n**B. Cronos Uncovers Errors in Goodwill and Indefinite-Lived Tangible Assets**\n\n28\\. On November 9, 2021, Cronos publicly announced that it had been unable to\ncomplete its interim financial statements for the three and nine months ended\nSeptember 30, 2021 because its Audit Committee required additional time to\nevaluate goodwill and indefinite-lived intangible assets. Cronos also\nannounced that it expected to record an impairment charge of not less than US\n$220 million on goodwill and indefinite-lived intangible assets for the three\nand six months ended June 30, 2021.\n\n29\\. On the same date, Cronos filed a Material Change Report with the OSC, in\nwhich it stated that on the recommendation of its Audit Committee and after\nconsultation with its auditor, the Company would be required to restate its\npreviously issued unaudited interim financial statements for the three and six\nmonth period ending June 30, 2021, and that those financial statements should\nno longer be relied upon. The Company also filed Forms 8-K and 12b-25 with\nboth the OSC and the SEC.\n\n30\\. On February 18, 2022, Cronos filed restated interim financial statements\nand an Amended and Restated MD&A for the three and six month period ending\nJune 30, 2021 as the previously filed financial statements had not been\nprepared in accordance with GAAP, in this case US GAAP. Cronos disclosed that\nit had performed an interim impairment test on its U.S. reporting unit and the\nLord Jones brand, as of June 30, 2021, to determine whether the carrying\namount of the reporting unit and indefinite-lived intangible asset, the Lord\nJones brand, exceeded their respective fair values. As a result of its\nanalyses, the Company concluded that it should have recorded an impairment\ncharge of US $234.9 million on goodwill and indefinite-lived intangible assets\nrelated to its U.S. reporting unit.\n\n**C. Material Weaknesses in ICFR: February 2022**\n\n31\\. On February 18, 2022, the Company disclosed that its ICFR was ineffective\ndue to the existence of material weaknesses. The material weaknesses\ncontributed to the failure to accurately recognize the value of its goodwill\nand indefinite-lived intangible assets. Specifically, the Company:\n\n> (a) did not ensure that senior accounting personnel engaged consistently in\n> appropriate professional conduct and conduct consistent with the Company's\n> code of business conduct and ethics; and\n>\n> (b) lacked accounting personnel with appropriate level of knowledge and\n> experience in US GAAP.\n\n**D. MITIGATING FACTORS**\n\n32\\. The following mitigating factors are relevant to Cronos' revenue\nrecognition errors stemming from material weaknesses in ICFR:\n\n> (a) _Cronos' Investigation_ \\-- Cronos had mechanisms in place for employees\n> to submit internal tips and complaints. In addition, Cronos promptly took\n> steps to evaluate employee complaints, including by conducting an internal\n> investigation under the supervision of its Audit Committee, which eventually\n> led to the discovery of material accounting errors in the first and third\n> quarters of 2019;\n>\n> (b) _Co-operation_ \\-- Upon learning of the potential for material\n> accounting errors in previously filed reports, and prior to the completion\n> of its internal investigation, Cronos promptly reported information to the\n> OSC related to potential violations of securities laws in the first quarter\n> and third quarter of 2019 and cooperated with the OSC. Cronos provided\n> timely updates to the OSC and voluntarily produced documents, reports, and\n> other materials, including factual information learned during the course of\n> its internal investigation into the material accounting errors. Cronos\n> further facilitated interviews of current and former officers and employees,\n> including individuals residing outside of Canada;\n>\n> (c) _Restatement_ \\-- On March 30, 2020, Cronos filed amended and restated\n> interim financial statements and MD&A; and\n>\n> (d) _Remediation_ \\-- Cronos identified and implemented several enhancements\n> to remediate the identified weaknesses in ICFR, including developing and\n> implementing new internal accounting controls, developing a new training\n> program regarding accounting related matters, and hiring additional staff\n> with familiarity with applicable accounting requirements.\n\n33\\. The following mitigating factors are relevant to Cronos' failure to\nimpair goodwill and indefinite-lived intangible assets stemming from material\nweaknesses in ICFR:\n\n> a. _Cronos' Investigation_ \\-- Cronos had mechanisms in place for employees\n> to submit internal tips and complaints. In addition, Cronos promptly took\n> steps to evaluate a complaint submitted by an employee, including by\n> conducting an internal investigation under the supervision of its Audit\n> Committee, which eventually led to the discovery of material accounting\n> errors in the second quarter of 2021;\n>\n> b. _Co-operation_ \\-- Upon learning of the potential for material accounting\n> errors in reports previously filed with the OSC and SEC, and prior to the\n> completion of its internal investigation, Cronos promptly self-reported to\n> OSC and SEC staff information related to potential violations of securities\n> laws in the first quarter and third quarter of 2019. The Company applied for\n> a management cease trade order and fully cooperated with OSC, including by\n> providing all requested information promptly and in a transparent manner.\n> Cronos provided timely updates to OSC staff and voluntarily produced\n> documents, reports, and other materials, including factual information\n> learned during the course of its internal investigation into the material\n> accounting errors;\n>\n> c. _Restatement_ \\-- On February 18, 2022, Cronos filed amended and restated\n> interim financial statements and MD&A for the second quarter of 2021; and\n>\n> d. _Remediation_ \\-- Cronos undertook remedial measures upon learning of the\n> material accounting errors, including developing and implementing new\n> internal accounting controls, developing a new training program regarding\n> accounting related matters, and hiring additional staff with familiarity\n> with applicable GAAP requirements.\n\n#### PART IV -- NON-COMPLIANCE WITH ONTARIO SECURITIES LAW [AND/OR] CONDUCT\nCONTRARY TO THE PUBLIC INTEREST\n\n34\\. By engaging in the conduct described above, the Respondent acknowledges\nand admits that:\n\n> (a) the Respondent failed to file interim financial statements prepared in\n> accordance with applicable GAAP, contrary to s. 77 of the _Act_ ; and\n>\n> (b) the Respondent acted in a manner contrary to the public interest\n\n#### PART VI -- TERMS OF SETTLEMENT\n\n35\\. The Respondent agrees to the terms of settlement set forth below.\n\n36\\. The Respondent consents to the Order substantially in the form attached\nto this Settlement Agreement as Schedule \"A\", pursuant to which it is ordered\nthat:\n\n> (a) this Settlement Agreement is approved;\n>\n> (b) the Respondent pay an administrative penalty in the amount of $1,300,000\n> by wire transfer before the commencement of the Settlement Hearing, pursuant\n> to paragraph 9 of subsection 127(1) of the Act;\n>\n> (c) Cronos shall submit to a review by an independent consultant, acceptable\n> to the Commission and paid for by Cronos, of practices and procedures\n> including Cronos' compliance with requirements relating to ICFR, the terms\n> of which are set forth in Schedule \"A\" to the Order, and institute such\n> changes as the independent consultant recommends; and\n>\n> (d) the Respondent pay costs in the amount of $40,000 by wire transfer\n> before the commencement of the Settlement Hearing, pursuant to section 127.1\n> of the Act.\n\n37\\. The Respondent consents to a regulatory order made by any provincial or\nterritorial securities regulatory authority in Canada containing any or all of\nthe sanctions set out in paragraph 36, other than subparagraphs 36 (b) and\n(d). The applicable sanctions may be modified to reflect the provisions of the\nrelevant provincial or territorial securities law.\n\n38\\. The Respondent acknowledges that this Settlement Agreement and the Order\nmay form the basis for orders of parallel effect (but, for clarity, without\nduplication of the sanctions set out in subparagraphs 36 (b) and (d)) in other\njurisdictions in Canada. The securities laws of some other Canadian\njurisdictions allow orders made in this matter to take effect in those other\njurisdictions automatically, without further notice to the Respondent. The\nRespondent should contact the securities regulator of any other jurisdiction\nin which the Respondent intends to engage in any securities- or derivatives-\nrelated activities, prior to undertaking such activities.\n\n#### PART VII -- FURTHER PROCEEDINGS\n\n39\\. If the Tribunal approves this Settlement Agreement, no enforcement\nproceeding will be commenced or continued against the Respondent under Ontario\nsecurities law based on the misconduct described in Part III of this\nSettlement Agreement, unless the Respondent fails to comply with any term in\nthis Settlement Agreement.\n\n40\\. If the Respondent fails to comply with any term in this Settlement\nAgreement, enforcement proceedings under Ontario securities law may be brought\nagainst the Respondent.\n\n41\\. The Respondent waives any defences to a proceeding referenced in\nparagraph 39 or 40 that are based on the limitation period in the Act,\nprovided that no such proceeding shall be commenced later than six years from\nthe date of the occurrence of the last failure to comply with this Settlement\nAgreement.\n\n#### PART VIII -- PROCEDURE FOR APPROVAL OF SETTLEMENT\n\n42\\. The parties will seek approval of this Settlement Agreement at the\nSettlement Hearing before the Tribunal, which shall be held on a date\ndetermined by Registrar, Governance & Tribunal Secretariat of the Commission\nin accordance with this Agreement and the Tribunal's _Rules of Procedure and\nForms_ .\n\n43\\. Representatives of the Respondent will attend the Settlement Hearing by\nvideo conference.\n\n44\\. The parties confirm that this Settlement Agreement sets forth all facts\nthat will be submitted at the Settlement Hearing, unless the parties agree\nthat additional facts should be submitted at the Settlement Hearing.\n\n45\\. If the Tribunal approves this Settlement Agreement:\n\n> (a) the Respondent irrevocably waives all rights to a full hearing, judicial\n> review or appeal of this matter under the Act; and\n>\n> (b) neither party will make any public statement that is inconsistent with\n> this Settlement Agreement or with any additional agreed facts submitted at\n> the Settlement Hearing.\n\n46\\. Whether or not the Tribunal approves this Settlement Agreement, the\nRespondent will not use, in any proceeding, this Settlement Agreement or the\nnegotiation or process of approval of this Settlement Agreement as the basis\nfor any attack on the Tribunal's jurisdiction, alleged bias, alleged\nunfairness or any other remedies or challenges that may be available.\n\n#### PART IX -- DISCLOSURE OF SETTLEMENT AGREEMENT\n\n47\\. If the Tribunal does not make the Order:\n\n> (a) this Settlement Agreement and all discussions and negotiations between\n> the parties before the Settlement Hearing will be without prejudice to\n> either party; and\n>\n> (b) the parties will each be entitled to all available proceedings, remedies\n> and challenges, including proceeding to a hearing on the merits of the\n> allegations contained in the Statement of Allegations in respect of the\n> Proceeding. Any such proceedings, remedies and challenges will not be\n> affected by this Settlement Agreement, or by any discussions or negotiations\n> relating to this Settlement Agreement.\n\n48\\. The parties will keep the terms of this Settlement Agreement confidential\nuntil the Tribunal approves the Settlement Agreement, except as is necessary\nto make submissions at the Settlement Hearing. If, for whatever reason, the\nTribunal does not approve the Settlement Agreement, the terms of the\nSettlement Agreement shall remain confidential indefinitely, unless the\nparties otherwise agree in writing or if required by law.\n\n#### PART X -- EXECUTION OF SETTLEMENT AGREEMENT\n\n49\\. This Settlement Agreement may be signed in one or more counterparts which\ntogether constitute a binding agreement.\n\n50\\. An electronic copy of any signature will be as effective as an original\nsignature.\n\n**DATED at Toronto, Ontario, this 17th day of October, 2022.**\n\n**CRONOS GROUP INC.**\n\nI have authority to bind the Corporation.\n\n\"Terry Doucet\"\n\nSenior Vice President, Legal, Regulatory Affairs and Corporate Secretary\n\n**DATED at Toronto, Ontario, this 19 day of October, 2022.**\n\n**ONTARIO SECURITIES COMMISSION**\n\n\"Jeff Kehoe\"\n\nDirector, Enforcement Branch\n\n#### SCHEDULE \"A\"\n\n#### FORM OF ORDER\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\nFile No.\n\n_(Names of panelists comprising the panel)_\n\n_(Day and date order made)_\n\n#### ORDER (Sections 127 and 127.1 of the _Securities Act,_ RSO 1990, c. S.5)\n\n**WHEREAS** on [ **date** ] the Capital Markets Tribunal held a hearing by\nvideoconference to consider the request for approval of settlement agreement\ndated **[date** ] (the **Settlement Agreement** );\n\n**ON READING** the Joint Application for Settlement Hearing, including the\nStatement of Allegations dated [ **date** ] and the Settlement Agreement, the\nwritten submissions, and on hearing the submissions of representatives of each\nof the parties, and on considering Cronos Group Inc. ( **Cronos** ) having\nmade payment of each of $1,300,000 and $40,000 to the Commission in accordance\nwith the terms of the Settlement Agreement,\n\n**IT IS ORDERED** that:\n\n> 1\\. the Settlement Agreement is approved;\n>\n> 2\\. Cronos shall pay an administrative penalty of $1,300,000 to the\n> Commission by wire transfer before the commencement of the Settlement\n> Hearing pursuant to paragraph 9 of subsection 127(1) of the Act;.\n>\n> 3\\. Cronos shall submit to a review by an independent consultant acceptable\n> to the Commission and paid for by Cronos of practices and procedures\n> including Cronos' compliance with requirements relating to ICFR, the terms\n> of which are set forth in Schedule \"A\" to this Order, and institute such\n> changes as the independent consultant recommends; and\n>\n> 4\\. Cronos shall pay costs of the Commission's investigation in the amount\n> of $40,000 by wire transfer before the commencement of the Settlement\n> Hearing pursuant to section 127.1 of the Act.\n\n____________________ | \n---|--- \n[Adjudicator] | \n____________________ | ____________________ \n[Adjudicator] | [Adjudicator] \n \n#### SCHEDULE \"A\"\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\n#### TERMS AND CONDITIONS OF INDEPENDENT REVIEW OF PRACTICES AND PROCEDURES\n\nThis document is made in connection with the settlement agreement dated [date]\n(the **Settlement Agreement** ) in File No. [XXX]. All terms in this document\nhave the same meaning as in the Settlement Agreement.\n\nCronos shall:\n\n> 1\\. Retain, within thirty (30) days of the date of the Order, at its own\n> expense a qualified independent consultant (the **Consultant** ) not\n> unacceptable to the OSC, to review the Respondent's internal accounting\n> controls and ICFR. The Consultant's review and evaluation shall include an\n> assessment of the following:\n>\n\n>> (a) The effectiveness of Cronos' internal accounting controls in light of\nCronos' business strategy. The review shall include, but not be limited to, a\nreview of the Company's policies, procedures, and controls, relating to (i)\nrevenue recognition, including in its wholesale channel and non-routine\ntransactions, and (ii) the assessment and testing of goodwill and intangible\nassets for impairment;\n\n>>\n\n>> (b) Cronos' compliance with Ontario securities laws related to ICFR,\nincluding but not limited to, the adequacy of Cronos' control environment and\nrisk assessment based upon criteria established in the Internal Control --\nIntegrated Framework (2013) by the Committee of Sponsoring Organizations of\nthe Treadway Commission ( **COSO** );\n\n>>\n\n>> (c) Cronos' employment of a sufficient number of accounting and finance\npersonnel with an understanding of applicable GAAP and financial reporting\nrequirements, as well as the reporting lines of accounting and finance\npersonnel to management and the Board of Directors; and\n\n>>\n\n>> (d) Cronos' training of its employees on matters related to applicable GAAP\nas well as financial reporting requirements.\n\n>\n> 2\\. Provide, within forty-five (45) days of the date of this Order, a copy\n> of the engagement letter detailing the Consultant's responsibilities to a\n> Manager of the Enforcement Branch of the OSC.\n>\n> 3\\. Require the Consultant, at the conclusion of the review, which in no\n> event shall be more than 120 days after the date of the Order, to submit a\n> report of the Consultant to the Respondent and a Manager of the Corporate\n> Finance Branch of the OSC. The report shall address the Consultant's\n> findings and shall include a description of the review performed, the\n> conclusions reached, and the Consultant's recommendations for changes or\n> improvements.\n>\n> 4\\. Adopt, implement, and maintain all policies, procedures and practices\n> recommended in the report of the Consultant within 120 days of receiving the\n> report from the Consultant. As to any of the Consultant's recommendations\n> about which the Respondent and the Consultant do not agree, such parties\n> shall attempt in good faith to reach agreement within 180 days of the date\n> of the date of the Order. In the event that the Respondent and the\n> Consultant are unable to agree on an alternative proposal, the Respondent\n> will abide by the determination of the Consultant and adopt those\n> recommendations deemed appropriate by the Consultant.\n>\n> 5\\. Cooperate fully with the Consultant in its review, including making such\n> information and documents available as the Consultant may reasonably\n> request, and by permitting and requiring the Respondent's employees and\n> agents to supply such information and documents as the Consultant may\n> reasonably request, subject to any applicable privilege.\n>\n> 6\\. To ensure the independence of the Consultant, the Respondent (i) shall\n> not have received legal, auditing, or other services from, or have had any\n> affiliations with, the Consultant during the two years prior to the date of\n> this Order; (ii) shall not have the authority to terminate the Consultant\n> without prior written approval of the OSC; and (iii) shall compensate the\n> Consultant for services rendered pursuant to the Order at their reasonable\n> and customary rates.\n>\n> 7\\. Require the Consultant to enter into an agreement that provides that for\n> the period of engagement and for a period of two years from completion of\n> the engagement, the Consultant shall not enter into any employment,\n> consultant, attorney-client, auditing or other professional relationship\n> with Respondent, or any of its present or former affiliates, directors,\n> officers, employees, or agents acting in their capacity. The agreement will\n> also provide that the Consultant will require that any firm with which they\n> are affiliated or of which they are a member, and any person engaged to\n> assist the Consultant in performance of their duties under this order shall\n> not, without prior written consent of the OSC, enter into any employment,\n> consultant, attorney-client, auditing or other professional relationship\n> with the Respondent, or any of its present or former affiliates, directors,\n> officers, employees, or agents acting in their capacity as such for the\n> period of engagement and for a period of two years after the engagement.\n>\n> 8\\. The reports by the Consultant will likely include confidential\n> financial, proprietary, competitive business or commercial information.\n> Public disclosure of the reports could discourage cooperation, impede\n> pending or potential government investigations or undermine the objectives\n> of the reporting requirement. For these reasons, among others, the reports\n> and the contents thereof are intended to remain and shall remain non-public,\n> except (1) pursuant to court order, (2) as agreed to by the parties in\n> writing, (3) to the extent that the OSC determines in its sole discretion\n> that disclosure would be in furtherance of the OSC's discharge of its duties\n> and responsibilities, or (4) is otherwise required by law.\n>\n> 9\\. Require the Consultant to report to a Manager of the Enforcement Branch\n> of the OSC on its activities as the OSC may request.\n>\n> 10\\. Respondent agrees that the OSC may extend any of the dates set forth\n> above at its discretion.\n>\n> 11\\. Certify, in writing, compliance with the requirements(s) set forth\n> above. The certification shall identify the requirements(s), provide written\n> evidence of compliance in the form of a narrative, and be supported by\n> exhibits sufficient to demonstrate compliance. The OSC may make reasonable\n> request for further evidence of compliance, and the Respondent agrees to\n> provide such evidence. The certification and reporting material shall be\n> submitted to the Manager of the Corporate Finance Branch of the OSC no later\n> than thirty days (30) from the date of the completion of the requirements.\n\n * [ Fran\u00e7ais ](/fr/instances/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson)\n\n### Your feedback matters\n\n[ ](https://osc.ca) [ ](/en)\n\n[ Subscribe to our updates ](/en/news/subscribe)\n\n## Connect with us:\n\n * [ ](https://www.linkedin.com/company/ontario-securities-commission \"Follow us on Linkedin\")\n * [ ](https://www.x.com/OSC_News \"Follow us on Twitter\")\n * [ ](/en/rss-feeds \"Follow us on RSS\")\n\n\u00ae Ontario Securities Commission 2025\n\n[ ](/)\n\n * [ Fran\u00e7ais ](/fr/instances/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson)\n\n",
"url": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
"reason": "This is an official document from the Capital Markets Tribunal regarding a settlement agreement with Cronos Group. As a legal document from a regulatory body, it is a highly reliable source.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' overview financial performance",
"summary": "Settlement agreement between the Capital Markets Tribunal and Cronos Group Inc. and William Hilson.",
"url": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
{
"content": {
"metadata": {
"ext_id": "330d01d5-5e40-4b79-9ccc-2a8100955cd0",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nFebruary 27, 2025 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of the Peace Naturals Campus; \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n* * *\n\n## Tags\n\n[ Cannabis ](/en/search/tag/cannabis \"Cannabis\") [ CRON ](/en/search/tag/cron\n\"CRON\") [ Cronos ](/en/search/tag/cronos \"Cronos\") [ Cronos Group\n](/en/search/tag/cronos%2520group \"Cronos Group\")\n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results, providing direct and verifiable information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Reports 2024 Fourth Quarter and Full Year Results",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "cde85bcb-4a8b-4b4f-b004-5063f7f18e11",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.stocktitan.net/news/CRON/cronos-group-reports-2024-third-quarter-m7eusx8000jz.html"
},
"page_content": " 1. [ Home ](/)\n 2. [ News ](/news/live.html)\n 3. [ CRON ](/news/CRON/)\n 4. Cronos Group Reports 2024 Third Quarter Results \n\n##### [ Trending News __ ](/news/trending.html)\n\n[ ](/news/ZENA/ \" ZENA Stock News\")\n\n[ ZENA ](/news/ZENA/)\n\n[ ZenaTech\u2019s ZenaDrone Granted FAA Part 137 Approval for Agricultur...\n](/news/ZENA/zena-tech-s-zena-drone-granted-faa-part-137-approval-\nfor-61f0zwck5oj3.html)\n\n[ ](/news/ELAB/ \" ELAB Stock News\")\n\n[ ELAB ](/news/ELAB/)\n\n[ Northstrive Biosciences Announces Positive FDA Response Supportin...\n](/news/ELAB/northstrive-biosciences-announces-positive-fda-response-\nsupporting-a-4vmy4emfa7wu.html)\n\n[ ](/news/LRHC/ \" LRHC Stock News\")\n\n[ LRHC ](/news/LRHC/)\n\n[ La Rosa Holdings Corp. Announces Authorization of Stock Buyback P...\n](/news/LRHC/la-rosa-holdings-corp-announces-authorization-of-stock-\nbuyback-f5vgudr2akqg.html)\n\n[ ](/news/ARBE/ \" ARBE Stock News\")\n\n[ ARBE ](/news/ARBE/)\n\n[ HiRain Launches LRR615, Production-Intent Imaging Radar System Ba...\n](/news/ARBE/hi-rain-launches-lrr615-production-intent-imaging-radar-system-\nbased-l3u7k3c7z7jp.html)\n\n[ ](/news/ONCY/ \" ONCY Stock News\")\n\n[ ONCY ](/news/ONCY/)\n\n[ Oncolytics Biotech\u00ae to Showcase New Pancreatic Cancer Data at ASC...\n](/news/ONCY/oncolytics-biotech-to-showcase-new-pancreatic-cancer-data-at-\nasco-fgscyjq04cn1.html)\n\n[ ](/news/IPHA/ \" IPHA Stock News\")\n\n[ IPHA ](/news/IPHA/)\n\n[ Innate Pharma Announces \u20ac15M Investment by Sanofi ](/news/IPHA/innate-\npharma-announces-15m-investment-by-4qohscfvtl47.html)\n\n[ ](/news/ZENA/ \" ZENA Stock News\")\n\n[ ZENA ](/news/ZENA/)\n\n[ ZenaTech\u2019s ZenaDrone Granted FAA Part 137 Approval for Agricultur...\n](/news/ZENA/zena-tech-s-zena-drone-granted-faa-part-137-approval-\nfor-61f0zwck5oj3.html)\n\n[ ](/news/ELAB/ \"Elevai Labs Inc. ELAB Stock News\")\n\n[ ELAB ](/news/ELAB/)\n\n[ Northstrive Biosciences Announces Positive FDA Response Supportin...\n](/news/ELAB/northstrive-biosciences-announces-positive-fda-response-\nsupporting-a-4vmy4emfa7wu.html)\n\n[ ](/news/LRHC/ \"La Rosa Holdings Corp LRHC Stock News\")\n\n[ LRHC ](/news/LRHC/)\n\n[ La Rosa Holdings Corp. Announces Authorization of Stock Buyback P...\n](/news/LRHC/la-rosa-holdings-corp-announces-authorization-of-stock-\nbuyback-f5vgudr2akqg.html)\n\n[ ](/news/ARBE/ \"Arbe Robotics Ltd ARBE Stock News\")\n\n[ ARBE ](/news/ARBE/)\n\n[ HiRain Launches LRR615, Production-Intent Imaging Radar System Ba...\n](/news/ARBE/hi-rain-launches-lrr615-production-intent-imaging-radar-system-\nbased-l3u7k3c7z7jp.html)\n\n[ ](/news/ONCY/ \"Oncolytics Biotech, Inc. ONCY Stock News\")\n\n[ ONCY ](/news/ONCY/)\n\n[ Oncolytics Biotech\u00ae to Showcase New Pancreatic Cancer Data at ASC...\n](/news/ONCY/oncolytics-biotech-to-showcase-new-pancreatic-cancer-data-at-\nasco-fgscyjq04cn1.html)\n\n[ ](/news/IPHA/ \"Innate Pharma IPHA Stock News\")\n\n[ IPHA ](/news/IPHA/)\n\n[ Innate Pharma Announces \u20ac15M Investment by Sanofi ](/news/IPHA/innate-\npharma-announces-15m-investment-by-4qohscfvtl47.html)\n\n# Cronos Group Reports 2024 Third Quarter Results\n\nRhea-AI Impact\n\n(Low)\n\nRhea-AI Sentiment\n\n(Neutral)\n\nTags\n\n[ earnings ](/news/earnings.html)\n\nRhea-AI Summary\n\n__\n\n * English \n * French \n * German \n * Italian \n * Korean \n * Spanish \n\n**Cronos Group (NASDAQ: CRON)** reported strong Q3 2024 results with net\nrevenue increasing 38% year-over-year to **$34.3 million** . The Spinach\u00ae\nbrand became the #1 cannabis brand in Canada, leading in edibles with 17.2%\nmarket share. The company maintains a robust balance sheet with **$862\nmillion** in cash and cash equivalents. Cronos completed its investment in\nCronos GrowCo, gaining majority board control and consolidating results from\nJuly 2024. Despite a gross profit decrease of 9% to $3.6 million, Adjusted\nGross Profit increased 170% to $10.7 million, and Adjusted EBITDA improved by\n60% to $(6.0) million.\n\n**Cronos Group (NASDAQ: CRON)** ha riportato risultati solidi per il terzo\ntrimestre del 2024, con ricavi netti in aumento del 38% rispetto all'anno\nprecedente, raggiungendo **34,3 milioni di dollari** . Il marchio Spinach\u00ae \u00e8\ndiventato il marchio di cannabis n. 1 in Canada, liderando nel settore degli\nalimenti con una quota di mercato del 17,2%. L'azienda mantiene un solido\nbilancio con **862 milioni di dollari** in contante e disponibilit\u00e0 liquide.\nCronos ha completato il suo investimento in Cronos GrowCo, ottenendo il\ncontrollo di maggioranza del consiglio e consolidando i risultati a partire da\nluglio 2024. Nonostante una diminuzione del profitto lordo del 9% a 3,6\nmilioni di dollari, il profitto lordo rettificato \u00e8 aumentato del 170% a 10,7\nmilioni di dollari, e l'EBITDA rettificato \u00e8 migliorato del 60% a (6,0)\nmilioni di dollari.\n\n**Cronos Group (NASDAQ: CRON)** report\u00f3 resultados s\u00f3lidos para el tercer\ntrimestre de 2024, con ingresos netos aumentando un 38% interanual a **$34.3\nmillones** . La marca Spinach\u00ae se convirti\u00f3 en la marca de cannabis n\u00famero 1\nen Canad\u00e1, liderando en comestibles con una participaci\u00f3n de mercado del\n17.2%. La compa\u00f1\u00eda mantiene un balance s\u00f3lido con **$862 millones** en\nefectivo y equivalentes de efectivo. Cronos complet\u00f3 su inversi\u00f3n en Cronos\nGrowCo, obteniendo el control mayoritario de la junta y consolidando\nresultados desde julio de 2024. A pesar de una disminuci\u00f3n del 9% en el\nbeneficio bruto a $3.6 millones, el beneficio bruto ajustado aument\u00f3 un 170% a\n$10.7 millones, y el EBITDA ajustado mejor\u00f3 en un 60% a $(6.0) millones.\n\n**\ud06c\ub85c\ub178\uc2a4 \uadf8\ub8f9 (NASDAQ: CRON)** \uc740 2024\ub144 3\ubd84\uae30 \uc2e4\uc801\uc774 \uac15\uc138\ub97c \ubcf4\uc600\uc73c\uba70, \uc21c\uc218\uc775\uc774 \uc804\ub144 \ub300\ube44 38% \uc99d\uac00\ud558\uc5ec\n**$34.3 million** \uc5d0 \ub2ec\ud588\uc2b5\ub2c8\ub2e4. Spinach\u00ae \ube0c\ub79c\ub4dc\ub294 \uce90\ub098\ub2e4\uc5d0\uc11c 1\uc704 \ub300\ub9c8\ucd08 \ube0c\ub79c\ub4dc\uac00 \ub418\uc5c8\uc73c\uba70, \uc2dd\ud488 \ubd80\ubb38\uc5d0\uc11c\n17.2%\uc758 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4. \uc774 \ud68c\uc0ac\ub294 **$862 million** \uc758 \ud604\uae08 \ubc0f \ud604\uae08\uc131 \uc790\uc0b0\uc73c\ub85c \uacac\uace0\ud55c \ub300\ucc28\ub300\uc870\ud45c\ub97c \uc720\uc9c0\ud558\uace0\n\uc788\uc2b5\ub2c8\ub2e4. \ud06c\ub85c\ub178\uc2a4\ub294 \ud06c\ub85c\ub178\uc2a4 GrowCo\uc5d0 \ub300\ud55c \ud22c\uc790\ub97c \uc644\ub8cc\ud558\uc5ec \uc774\uc0ac\ud68c\uc5d0\uc11c \ub2e4\uc218 \uc758\uacb0\uad8c\uc744 \ud655\ubcf4\ud558\uace0 2024\ub144 7\uc6d4\ubd80\ud130 \uc2e4\uc801\uc744 \ud1b5\ud569\ud588\uc2b5\ub2c8\ub2e4.\n\ucd1d \uc774\uc775\uc774 9% \uac10\uc18c\ud558\uc5ec $3.6 million\uc5d0 \uc774\ub974\ub800\uc9c0\ub9cc, \uc870\uc815 \ucd1d \uc774\uc775\uc740 170% \uc99d\uac00\ud558\uc5ec $10.7 million\uac00 \ub418\uc5c8\uc73c\uba70, \uc870\uc815\nEBITDA\ub294 60% \uc99d\uac00\ud558\uc5ec $(6.0) million\uc73c\ub85c \uac1c\uc120\ub418\uc5c8\uc2b5\ub2c8\ub2e4.\n\n**Cronos Group (NASDAQ: CRON)** a annonc\u00e9 de solides r\u00e9sultats pour le\ntroisi\u00e8me trimestre 2024, avec un revenu net en augmentation de 38 % d'une\nann\u00e9e sur l'autre, atteignant **34,3 millions de dollars** . La marque\nSpinach\u00ae est devenue la premi\u00e8re marque de cannabis au Canada, dominant dans\nles aliments avec une part de march\u00e9 de 17,2 %. L'entreprise maintient un\nbilan solide avec **862 millions de dollars** en liquidit\u00e9s et \u00e9quivalents de\nliquidit\u00e9s. Cronos a finalis\u00e9 son investissement dans Cronos GrowCo, obtenant\nle contr\u00f4le majoritaire du conseil d'administration et consolidant les\nr\u00e9sultats depuis juillet 2024. Malgr\u00e9 une diminution de 9 % du b\u00e9n\u00e9fice brut \u00e0\n3,6 millions de dollars, le b\u00e9n\u00e9fice brut ajust\u00e9 a augment\u00e9 de 170 % \u00e0 10,7\nmillions de dollars, et l'EBITDA ajust\u00e9 a progress\u00e9 de 60 % \u00e0 (6,0) millions\nde dollars.\n\n**Cronos Group (NASDAQ: CRON)** berichtete \u00fcber starke Ergebnisse im dritten\nQuartal 2024 mit einem Anstieg der Nettoums\u00e4tze um 38 % im Jahresvergleich auf\n**34,3 Millionen USD** . Die Marke Spinach\u00ae wurde zur Nummer 1 unter den\nCannabis-Marken in Kanada und f\u00fchrt im Bereich der Lebensmittel mit einem\nMarktanteil von 17,2 %. Das Unternehmen weist eine stabile Bilanz mit **862\nMillionen USD** an Geld- und Geld\u00e4quivalenten auf. Cronos hat seine\nInvestition in Cronos GrowCo abgeschlossen und damit die Kontrolle \u00fcber den\nVorstand erlangt und die Ergebnisse ab Juli 2024 konsolidiert. Trotz eines\nR\u00fcckgangs des Bruttogewinns um 9 % auf 3,6 Millionen USD stieg der bereinigte\nBruttogewinn um 170 % auf 10,7 Millionen USD, und das bereinigte EBITDA\nverbesserte sich um 60 % auf (6,0) Millionen USD.\n\nPositive\n\n * Net revenue increased 38% YoY to $34.3 million \n * Spinach\u00ae became #1 cannabis brand in Canada with leading market positions \n * Strong balance sheet with $862 million in cash \n * Adjusted Gross Profit increased 170% to $10.7 million \n * Adjusted EBITDA improved 60% to $(6.0) million \n * Secured majority control of Cronos GrowCo, expanding cultivation capabilities \n\nNegative\n\n * Gross profit decreased 9% YoY to $3.6 million \n * Gross margin declined from 16% to 11% YoY \n\n## Insights\n\n##\n\nA strong quarter showing significant growth and operational improvements.\n**Net revenue increased 38% YoY to $34.3M ** , driven by higher cannabis\nflower and extract sales across key markets. The Spinach\u00ae brand achieving #1\nposition in Canada demonstrates successful market execution.\n\nThe balance sheet remains exceptionally strong with $862M in cash, providing\nsubstantial runway for international expansion. While gross margin declined to\n11% , the adjusted gross margin of 31% (excluding one-time inventory\nadjustments) shows healthy underlying profitability. The $51M investment in\nCronos GrowCo expansion strategically positions the company for increased\nproduction capacity and margin improvements.\n\n##\n\nThe strategic positioning in key international markets shows promising\nmomentum. Strong performance in Canada with Spinach\u00ae brand leadership ( 17.2%\nmarket share in edibles, 6% in flower) demonstrates successful product\ninnovation and market execution. The expansion into Germany, UK and Australia,\nbacked by the GrowCo investment, aligns well with growing global cannabis\ndemand.\n\nThe consolidation of Cronos GrowCo provides vertical integration benefits and\nsupply chain control, important for maintaining quality and margins in\ncompetitive markets. The $5-10M projected operating expense savings shows\ncommitment to operational efficiency.\n\n* [ ](https://twitter.com/intent/tweet?text=%24CRON%20Cronos%20Group%20Reports%202024%20Third%20Quarter%20Results%0Ahttps%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-reports-2024-third-quarter-m7eusx8000jz.html \"Share on X\")\n* [ ](https://reddit.com/submit?url=https%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-reports-2024-third-quarter-m7eusx8000jz.html&title=Cronos%20Group%20Reports%202024%20Third%20Quarter%20Results \"Share on Reddit\")\n* [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-reports-2024-third-quarter-m7eusx8000jz.html"e=%24CRON%20%7C%20Cronos%20Group%20Reports%202024%20Third%20Quarter%20Results \"Share on Facebook\")\n* 11/12/2024 - 07:30 AM \n\n_Net revenue in Q3 2024 increased by_ 38% _year-over-year to_ _ $34.3 million\n_\n\n_Spinach_ \u00ae _Becomes the Number One Cannabis Brand in Canada_ _1_\n\n_Industry-leading balance sheet with_ _ $862 million _ _in cash and cash\nequivalents_\n\nTORONTO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) today announced its 2024 third quarter\nbusiness results.\n\n\u201cOur results this quarter demonstrate that our long-term strategy is working.\nWith record net revenue and a disciplined approach to operating expenses,\nCronos operates more efficiently and effectively than ever before, and we\nanticipate long-term margin improvement. Our consolidation of Cronos Growing\nCompany has further strengthened our supply chain, which we anticipate will\nlead to improved margins and allow us to meet the increasing global demand for\nhigh-quality cannabis. With an industry-leading balance sheet, we are well-\npositioned to expand into new legal markets and drive future growth\nopportunities,\u201d said Mike Gorenstein, Chairman, President and CEO, Cronos.\n\n\u201cAs international demand continues to rise, particularly in markets like\nGermany, the UK, and Australia, the investments we\u2019ve made in our\ninfrastructure and global partnerships are paying off,\u201d continued Mr.\nGorenstein. \u201cIn the third quarter, our award-winning Spinach \u00ae brand rose to\nbecome the best-selling cannabis brand in the Canadian adult-use market and\nour Peace Naturals \u00ae brand held a top spot in the Israeli medical market.\nOur brands' market share out-performance represents our relentless commitment\nto quality, innovation, and bringing differentiated products to the global\ncannabis market. The progress we\u2019ve made reinforces our leadership in key\ncategories and markets, and we remain focused on continuing to innovate and\nbring premium products to consumers.\u201d\n\n1 Hifyre Retail Analytics \u2013 National Retail Dollar Sales by Brand in Canada \u2013\nAugust 2024.\n\n**_Consolidated Financial Results_ ** \nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\" Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results as of July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in the condensed\nconsolidated statements of net income (loss) and comprehensive income (loss).\nPrior period amounts have been reclassified to reflect the discontinued\noperations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three months ended September 30,** | | **Change** | | **Nine months ended September 30,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 29,996 | | | $ | 24,810 | | | $ | 5,186 | | | 21 | % | | $ | 83,046 | | | $ | 63,326 | | | $ | 19,720 | | | 31 | % \nCronos GrowCo net revenue ( i i ) | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A \nNet revenue | | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | | 38 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 30,341 | | | | 20,124 | | | | 10,217 | | | 51 | % | | | 72,216 | | | | 52,614 | | | | 19,602 | | | 37 | % \nInventory write-down | | | 312 | | | | 716 | | | | (404 | ) | | (56 | )% | | | 707 | | | | 716 | | | | (9 | ) | | (1 | )% \nGross profit | | $ | 3,611 | | | $ | 3,970 | | | $ | (359 | ) | | (9 | )% | | $ | 14,391 | | | $ | 9,996 | | | $ | 4,395 | | | 44 | % \nGross margin (iii) | | | 11 | % | | | 16 | % | | N/A | | (5) pp | | | 16 | % | | | 16 | % | | N/A | | \u2014pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A \nAdjusted Gross Profit ( i v ) | | $ | 10,727 | | | $ | 3,970 | | | $ | 6,757 | | | 170 | % | | $ | 21,507 | | | $ | 9,996 | | | $ | 11,511 | | | 115 | % \nAdjusted Gross Margin ( v ) | | | 31 | % | | | 16 | % | | N/A | | 15pp | | | 25 | % | | | 16 | % | | N/A | | 9pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 7,324 | | | $ | (1,590 | ) | | $ | 8,914 | | | N/M | | $ | (3,919 | ) | | $ | (25,288 | ) | | $ | 21,369 | | | 85 | % \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (6,019 | ) | | $ | (15,187 | ) | | $ | 9,168 | | | 60 | % | | $ | (27,739 | ) | | $ | (46,774 | ) | | $ | 19,035 | | | 41 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents (vi) | | $ | 862,034 | | | $ | 571,656 | | | $ | 290,378 | | | 51 | % | | | | | | | | \nShort-term investments (vi) | | | \u2014 | | | | 267,905 | | | | (267,905 | ) | | (100 | )% | | | | | | | | \nCapital expenditures ( vii ) | | | 6,536 | | | | 325 | | | | 6,211 | | | 1,911 | % | | | 9,446 | | | | 1,631 | | | | 7,815 | | | 479 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is Net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Third Quarter** **2024**\n\n * Net revenue of $34.3 million in Q3 2024 increased by $9.5 million from Q3 2023. The increase was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and sales to other international markets consisting of Australia, Germany and the United Kingdom (the \"UK\"). Cronos GrowCo contributed $4.3 million of cannabis flower sales in both the three and nine months ended September 30, 2024. \n * Gross profit of $3.6 million in Q3 2024 decreased by $0.4 million from Q3 2023. The decrease was primarily due to the impact on cost of sales from the inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction on July 1, 2024, partially offset by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted Gross Profit of $10.7 million in Q3 2024 increased by $6.8 million from Q3 2023. Adjusted Gross Profit and Adjusted Gross Margin provide insight into underlying business trends to facilitate comparisons of period-over-period results by removing the impacts of inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction, which reflect a one-time event and do not reflect management's assessment of ongoing performance. The increase in Adjusted Gross Profit was driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted EBITDA of $(6.0) million in Q3 2024 improved by $9.2 million from Q3 2023. The improvement year-over-year was primarily driven by higher net revenue, improved Adjusted Gross Profit and a decrease in general and administrative expenses. \n\n**_Business Updates_ **\n\n**Transaction with Cronos GrowCo** \nThe global cannabis market continues to expand as international markets fuel\nan increasing demand for high-quality products. The investment in Cronos\nGrowCo\u2019s facility expansion enables Cronos to increase supply of Cronos'\nunique portfolio of genetics which has helped the Company win in the highly\ncompetitive Canadian market, as well as expand Cronos\u2019 international footprint\nwith distribution to the growing markets in Australia, Germany, and the UK.\n\n**Key highlights of the transaction:**\n\n * **Increased Board Representation** : As of July 1, 2024, the Cronos GrowCo board of directors expanded to five members, three of whom are appointed by Cronos. \n * **Financial Consolidation** : Cronos now consolidates Cronos GrowCo\u2019s results in its financial statements beginning in the third quarter of 2024. \n * **Investment in Expansion** : Cronos provided an approximately $51 million ( $70 million CAD) secured non-revolving credit facility to Cronos GrowCo to fund the expansion of Cronos GrowCo's cultivation and processing facilities, enabling growth opportunities in the markets Cronos operates in today as well as enabling Cronos to take advantage of future growth into new markets that open. \n * **New Supply Agreement** : Prior to the commencement of sales from the expanded facility, Cronos will have the option to purchase up to 80% of Cronos GrowCo\u2019s total production. Thereafter, Cronos will have the option to purchase up to 70% of the total production from the expanded facility. \n\n**Brand and Product Portfolio**\n\n**_Spinach_ ** \u00ae\n\nIn Q3 2024, Spinach \u00ae was the top-selling cannabis brand in Canada according\nto Hifyre. This market share success highlights Cronos' unwavering dedication\nto quality, innovation, and delivering distinctive products to the competitive\nCanadian adult-use market.\n\nSpinach \u00ae has solidified itself as the go-to brand for a wide array of\nproducts featuring different cannabinoid combinations, potency ranges and\nflavor profiles. In the edibles category, the Spinach \u00ae brand held the\nnumber one position with a 17.2% market share in Q3 2024, according to\nHifyre.\n\nIn Q3 2024, the Spinach \u00ae brand launched three new edible SKUs, which included the SOURZ by Spinach \u00ae Strawberry Watermelon 4:1 CBG|THC gummies, SOURZ by Spinach \u00ae Peach Passionfruit 1:1:1 CBN | CBD | THC gummies, and the brand's first limited edition SOURZ by Spinach \u00ae Caramel Green Apple gummies. \n\nCronos' strong cannabis cultivar breeding program and portfolio of genetics\ncontinued to drive growth, propelling the Spinach \u00ae brand to become the\nnumber one flower brand in Canada, with a 6.0% market share in Q3 2024,\naccording to Hifyre.\n\nThe Spinach \u00ae brand was ranked fourth in the vape category in Q3 2024,\nholding a 6.4% market share, according to Hifyre. This performance was\ndriven by popular products such as Spinach HITZ\u2122, which introduced new Pink\nLemonade and Rocket Icicle flavors, alongside line extensions in Spinach \u00ae\n1.2g Vapes.\n\nIn Q3 2024, Spinach \u00ae was ranked eighth in the pre-roll category with 2.7%\nmarket share, according to Hifyre. In the sub-category of infused pre-rolls,\nthe Spinach \u00ae Fully Charged infused pre-rolls have begun to make their mark\nand are trending towards becoming a top selling product. The infused pre-roll\ncategory is continuing to grow and we expect this category to be key to future\ngrowth for both Cronos and the industry, which is why we are committed to\nevolution and innovation of the pre-roll portfolio.\n\n**_PEACE NATURALS_ ** **_\u00ae_ **\n\nIn Israel, PEACE NATURALS \u00ae continues to be a top-performing brand with a\nrecord volume of sales in Q3 2024, powered by Cronos' advanced genetic\nbreeding program and high-quality cultivation capabilities. Despite the\nconflict involving Israel, Hamas, Iran and other stakeholders in the region,\nan incredibly competitive market and declining patient counts due to\nregulatory market structure shifts, the brand continues to out-perform in the\nIsraeli cannabis market.\n\nIn Germany and the UK, we are experiencing strong traction with Cronos'\nproprietary genetics, such as GMO and Wedding Cake, under the PEACE NATURALS\n\u00ae brand. The expansion of Cronos GrowCo will help enable Cronos to execute on\nthese growth opportunities and others as they become available.\n\n**Guidance and Outlook**\n\nThe Company reiterates its previously announced operating expense savings\ntarget of $5 t o $10 million on a standalone basis in 2024 primarily\ndriven by savings in general and administrative, sales and marketing and\nresearch and development (\"R&D\"). The organizational and cost savings\ninitiatives are intended to position the Company to drive profitable and\nsustainable growth over time. The operating expense savings target excludes\nthe impact of the consolidation of Cronos GrowCo's results into the Company's\nfinancial statements.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause actual results to differ materially from these forward-\nlooking statements.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nNovember 12, 2024, at 8:30 a.m. ET to discuss 2024 Third Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany's website at _https://ir.thecronosgroup.com/events-presentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology, such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Israel Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d); \n * expectations related to the conflict involving Israel, Hamas, Iran and other stakeholders in the region (the \"Middle East Conflict\") and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa GmbH (\u201cCansativa\u201d), Vitura Health Limited (\u201cVitura\u201d) and GROW \u00ae Pharma, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility (the \"Cronos Fermentation Facility\") and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations, including the costs, expenses and write-offs associated therewith, the impact on our operations and our financial statements and any future plans to re-enter the U.S. market; \n * expectations related to our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of our facility in Stayner, Ontario (the \u201cPeace Naturals Campus\u201d); \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the expansion of Cronos GrowCo\u2019s purpose-built cannabis facility; \n * expectations related to the Cronos GrowCo transaction and the expansion of its cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the U.S. and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding acquisitions and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the Securities and Exchange Commission (the \"SEC\") and the settlement agreement (the \"Settlement Agreement\") with the Ontario Securities Commission (the \"OSC\"); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended (the \"Securities Act\"), and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and its impact on our\noperations in Israel; (ii) our ability to effectively navigate developments\nrelated to the Middle East Conflict and its impact on our employees and\noperations in Israel, the supply of product in the market and demand for\nproduct by medical patients in Israel; (iii) our ability to efficiently and\neffectively distribute our PEACE NATURALS \u00ae brand in Germany with our\nstrategic partner Cansativa and in the UK with our strategic partner GROW \u00ae\nPharma and our ability to efficiently and effectively distribute products in\nAustralia with our strategic partner Vitura; (iv) our ability to realize the\nexpected cost-savings and other benefits related to the wind-down of our\noperations at the Cronos Fermentation facility, (v) expectations related to\nthe impact of our decision to exit our U.S. hemp-derived cannabinoid product\noperations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively change the nature of our operations at our Peace\nNaturals Campus and receive the benefits thereof and acquire raw materials on\na timely and cost-effective basis from third parties or Cronos GrowCo; (viii)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (ix) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our acquisitions and\nstrategic investments; (x) the production and manufacturing capabilities and\noutput from our facilities and our joint ventures, strategic alliances and\nequity investments; (xi) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiii) consumer\ninterest in our products; (xiv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xv) competition;\n(xvi) anticipated and unanticipated costs; (xvii) our ability to generate cash\nflow from operations; (xviii) our ability to conduct operations in a safe,\nefficient and effective manner; (xix) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xx) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxi) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiii) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxiv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be\ncorrect, and that objectives, strategic goals and priorities will not be\nachieved. A variety of factors, including known and unknown risks, many of\nwhich are beyond our control, could cause actual results to differ materially\nfrom the Forward-Looking Statements in this press release and other reports we\nfile with, or furnish to, the SEC and other regulatory agencies and made by\nour directors, officers, other employees and other persons authorized to speak\non our behalf. Such factors include, without limitation, negative impacts on\nour business and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict, the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at the Cronos Fermentation facility; that we may\nbe unable to further streamline our operations and reduce expenses; that we\nmay not be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; the risks that our Realignment, the change in the\nnature of our operations at the Peace Naturals Campus and our further\nleveraging of our strategic partnerships will not result in the expected cost-\nsavings, efficiencies and other benefits or will result in greater than\nanticipated turnover in personnel; lower levels of revenues; the lack of\nconsumer demand for our products; our inability to manage disruptions in\ncredit markets; unanticipated future levels of capital, environmental or\nmaintenance expenditures, general and administrative and other expenses;\ngrowth opportunities not turning out as expected; the lack of cash flow\nnecessary to execute our business plan (either within the expected timeframe\nor at all); difficulty raising capital; the potential adverse effects of\njudicial, regulatory or other proceedings, or threatened litigation or\nproceedings, on our business, financial condition, results of operations and\ncash flows; volatility in and/or degradation of general economic, market,\nindustry or business conditions; compliance with applicable environmental,\neconomic, health and safety, energy and other policies and regulations and in\nparticular health concerns with respect to vaping and the use of cannabis and\nU.S. hemp products in vaping devices; the unexpected effects of actions of\nthird parties such as competitors, activist investors or federal (including\nU.S. federal), state, provincial, territorial or local regulatory authorities\nor self-regulatory organizations; adverse changes in regulatory requirements\nin relation to our business and products; legal or regulatory obstacles that\ncould prevent us from being able to exercise the PharmaCann Option and thereby\nrealize the anticipated benefits of the transaction with PharmaCann; dilution\nof our fully diluted ownership of PharmaCann and the loss of our rights as a\nresult of that dilution; our failure to improve our internal control\nenvironment and our systems, processes and procedures; and the factors\ndiscussed under Part I, Item 1A \u201cRisk Factors\u201d of the Annual Report on Form\n10-K for the year ended December 31, 2023 and under Part II, Item 1A \u201cRisk\nFactors\u201d in our Quarterly Reports. Readers are cautioned to consider these and\nother factors, uncertainties and potential events carefully and not to put\nundue reliance on Forward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\nAs used in this press release, \u201cCBD\u201d means cannabidiol and \u201cU.S. hemp\u201d has the\nmeaning given to the term \u201chemp\u201d in the U.S. Agricultural Improvement Act of\n2018, including hemp-derived CBD.\n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n \n \n\n| **As of September 30, 2024** | | **As of December 31, 2023** \n---|---|---|--- \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 862,034 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 20,480 | | | | 13,984 | \nInterest receivable | | 7,190 | | | | 10,012 | \nOther receivables | | 5,690 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 233 | | | | 5,541 | \nInventory, net | | 47,250 | | | | 30,495 | \nPrepaids and other current assets | | 7,326 | | | | 5,405 | \nHeld-for-sale assets | | 8,971 | | | | \u2014 | \nTotal current assets | | 959,174 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,900 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 16,086 | | | | 69,036 | \nProperty, plant and equipment, net | | 162,516 | | | | 59,468 | \nRight-of-use assets | | 1,052 | | | | 1,356 | \nGoodwill | | 38,028 | | | | 1,057 | \nIntangible assets, net | | 4,247 | | | | 21,078 | \nOther assets | | 130 | | | | 45 | \n**Total assets** | $ | 1,184,133 | | | $ | 1,140,085 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 6,532 | | | $ | 12,130 | \nIncome taxes payable | | 94 | | | | 64 | \nAccrued liabilities | | 31,766 | | | | 27,736 | \nCurrent portion of lease obligation | | 980 | | | | 994 | \nDerivative liabilities | | 192 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 39,564 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,243 | | | | 1,003 | \nNon-current portion of lease obligation | | 872 | | | | 1,559 | \nDeferred tax liability | | 11,143 | | | | \u2014 | \n**Total liabilities** | | 52,822 | | | | 43,961 | \n| | | \n**Shareholders\u2019 equity** | | | \nShare capital | | 616,403 | | | | 613,725 | \nAdditional paid-in capital | | 51,523 | | | | 48,449 | \nRetained earnings | | 413,995 | | | | 416,719 | \nAccumulated other comprehensive gain (loss) | | (361 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,081,560 | | | | 1,099,571 | \nNon-controlling interests | | 49,751 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,131,311 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,184,133 | | | $ | 1,140,085 | \n \n \n\n**Cronos Group Inc.** | | | \n---|---|---|--- \n**Condensed Consolidated Statements of Net Income (Loss) and Comprehensive\nIncome (Loss)** \n \n \n\n| **Three months ended September 30,** | | **Nine months ended September 30,** \n---|---|---|--- \n_(In thousands of U.S. dollars, except share and per share amounts, unaudited)_ | | **2024** | | | | **2023** | | | | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 46,594 | | | $ | 33,912 | | | $ | 120,639 | | | $ | 86,264 | \nExcise taxes | | (12,330 | ) | | | (9,102 | ) | | | (33,325 | ) | | | (22,938 | ) \n**Net revenue** | | 34,264 | | | | 24,810 | | | | 87,314 | | | | 63,326 | \nCost of sales | | 30,341 | | | | 20,124 | | | | 72,216 | | | | 52,614 | \nInventory write-down | | 312 | | | | 716 | | | | 707 | | | | 716 | \n**Gross profit** | | 3,611 | | | | 3,970 | | | | 14,391 | | | | 9,996 | \n**Operating expenses** | | | | | | | \nSales and marketing | | 5,528 | | | | 5,296 | | | | 15,190 | | | | 16,334 | \nResearch and development | | 1,242 | | | | 1,246 | | | | 3,201 | | | | 4,392 | \nGeneral and administrative | | 12,760 | | | | 14,366 | | | | 34,434 | | | | 39,673 | \nRestructuring costs | | \u2014 | | | | 1,423 | | | | 630 | | | | 1,423 | \nShare-based compensation | | 2,262 | | | | 1,957 | | | | 6,513 | | | | 6,823 | \nDepreciation and amortization | | 1,098 | | | | 1,457 | | | | 3,237 | | | | 4,515 | \nImpairment loss on long-lived assets | | 14,376 | | | | \u2014 | | | | 16,350 | | | | \u2014 | \nTotal operating expenses | | 37,266 | | | | 25,745 | | | | 79,555 | | | | 73,160 | \nOperating loss | | (33,655 | ) | | | (21,775 | ) | | | (65,164 | ) | | | (63,164 | ) \n**Other income** | | | | | | | \nInterest income, net | | 12,460 | | | | 13,375 | | | | 40,156 | | | | 37,021 | \nShare of income from equity method investments | | \u2014 | | | | 1,057 | | | | 2,365 | | | | 831 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | 11,804 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | 32,469 | | | | \u2014 | \nLoss on revaluation of financial instruments | | (293 | ) | | | (5,291 | ) | | | (6,550 | ) | | | (7,856 | ) \nImpairment loss on other investments | | \u2014 | | | | \u2014 | | | | (25,650 | ) | | | \u2014 | \nForeign currency transaction gain (loss) | | (7,432 | ) | | | 8,816 | | | | 12,370 | | | | 3,999 | \nLoss on held-for-sale assets | | (10,422 | ) | | | \u2014 | | | | (10,422 | ) | | | \u2014 | \nOther, net | | (315 | ) | | | 974 | | | | (737 | ) | | | 1,011 | \nTotal other income | | 38,271 | | | | 18,931 | | | | 55,805 | | | | 35,006 | \nIncome (loss) before income taxes | | 4,616 | | | | (2,844 | ) | | | (9,359 | ) | | | (28,158 | ) \nIncome tax benefit | | (2,708 | ) | | | (1,254 | ) | | | (5,440 | ) | | | (2,870 | ) \nIncome (loss) from continuing operations | | 7,324 | | | | (1,590 | ) | | | (3,919 | ) | | | (25,288 | ) \nLoss from discontinued operations | | \u2014 | | | | (182 | ) | | | \u2014 | | | | (4,238 | ) \nNet income (loss) | | 7,324 | | | | (1,772 | ) | | | (3,919 | ) | | | (29,526 | ) \nNet loss attributable to non-controlling interest | | (1,025 | ) | | | (128 | ) | | | (1,270 | ) | | | (353 | ) \nNet income (loss) attributable to Cronos Group | $ | 8,349 | | | $ | (1,644 | ) | | $ | (2,649 | ) | | $ | (29,173 | ) \n**Comprehensive income (loss)** | | | | | | | \nNet income (loss) | $ | 7,324 | | | $ | (1,772 | ) | | $ | (3,919 | ) | | $ | (29,526 | ) \nOther comprehensive income (loss) | | | | | | | \nForeign exchange gain (loss) on translation | | 12,408 | | | | (20,090 | ) | | | (20,113 | ) | | | (1,096 | ) \nComprehensive income (loss) | | 19,732 | | | | (21,862 | ) | | | (24,032 | ) | | | (30,622 | ) \nComprehensive loss attributable to non-controlling interests | | (269 | ) | | | (41 | ) | | | (344 | ) | | | (136 | ) \n**Comprehensive income (loss) attributable to Cronos Group** | $ | 20,001 | | | $ | (21,821 | ) | | $ | (23,688 | ) | | $ | (30,486 | ) \n**Net income (loss) per share** | | | | | | | \nBasic - continuing operations | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.07 | ) \nBasic - discontinued operations | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (0.01 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.08 | ) \n| | | | | | | \nDiluted - continuing operations | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.07 | ) \nDiluted - discontinued operations | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (0.01 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.08 | ) \n \n \n\n**Cronos Group Inc.** | \n---|--- \n**Condensed Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n \n \n\n| **Nine months ended September 30,** \n---|--- \n| | **2024** | | | | **2023** | \n**Operating activities** | | | \nNet loss | $ | (3,919 | ) | | $ | (29,526 | ) \nAdjustments to reconcile net loss to cash used in operating activities: | | | \nShare-based compensation | | 6,513 | | | | 6,840 | \nDepreciation and amortization | | 6,811 | | | | 6,933 | \nImpairment loss on long-lived assets | | 16,350 | | | | 205 | \nImpairment loss on other investments | | 25,650 | | | | \u2014 | \nLoss from investments | | 4,103 | | | | 7,103 | \nChanges in expected credit losses on long-term financial assets | | 1,026 | | | | (1,339 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | \nLoss on held-for-sale assets | | 10,422 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 7,116 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (12,370 | ) | | | (3,999 | ) \nOther non-cash operating activities, net | | (11 | ) | | | (1,904 | ) \nChanges in operating assets and liabilities: | | | \nAccounts receivable, net | | (5,402 | ) | | | 6,976 | \nInterest receivable | | (1,018 | ) | | | (14,601 | ) \nOther receivables | | 1,658 | | | | 25 | \nPrepaids and other current assets | | (1,217 | ) | | | 1,074 | \nInventory | | 7,162 | | | | 976 | \nAccounts payable | | (9,102 | ) | | | (7,595 | ) \nIncome taxes payable | | (9 | ) | | | (32,728 | ) \nAccrued liabilities | | 1,633 | | | | 1,910 | \nCash flows provided by (used in) operating activities | | 11,123 | | | | (59,650 | ) \n**Investing activities** | | | \nPurchase of short-term investments | | \u2014 | | | | (537,186 | ) \nProceeds from short-term investments | | 187,166 | | | | 380,765 | \nCash acquired in business combinations | | 5,993 | | | | \u2014 | \nDividends received from equity method investment | | \u2014 | | | | 1,301 | \nDividend proceeds | | \u2014 | | | | 346 | \nAdvances on loans receivable | | (8,822 | ) | | | \u2014 | \nProceeds from repayment on loans receivable | | 5,290 | | | | 14,151 | \nPurchase of property, plant and equipment | | (8,868 | ) | | | (1,287 | ) \nPurchase of intangible assets | | (578 | ) | | | (344 | ) \nOther investing activities | | \u2014 | | | | 862 | \nCash flows provided by (used in) investing activities | | 180,181 | | | | (141,392 | ) \n**Financing activities** | | | \nWithholding taxes paid on share-based awards | | (918 | ) | | | (812 | ) \nCash flows used in financing activities | | (918 | ) | | | (812 | ) \nEffect of foreign currency translation on cash and cash equivalents | | 2,357 | | | | 8,866 | \nNet change in cash and cash equivalents | | 192,743 | | | | (192,988 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | \nCash and cash equivalents, end of period | $ | 862,034 | | | $ | 571,656 | \n**Supplemental cash flow information** | | | \nInterest paid | $ | \u2014 | | | $ | \u2014 | \nInterest received | $ | 38,965 | | | $ | 22,203 | \nIncome taxes paid | $ | 621 | | | $ | 33,013 | \n \n** \nNon-GAAP Measures **\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This press\nrelease refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis press release are reconciled to their closest reported U.S. GAAP measure.\nReconciliations of historical adjusted financial measures to corresponding\nU.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; purchase accounting\nadjustment-related inventory step-up adjustments recorded through cost of\nsales; and financial statement review costs and reserves related to the\nrestatements of our 2019 and 2021 interim financial statements (the\n\u201cRestatements\u201d), including the costs related to the settlement of the SEC's\nand the OSC's investigations of the Restatements and legal costs of defending\nshareholder class action complaints brought against us as a result of the 2019\nrestatement (see Part II, Item 1 \u201cLegal Proceedings\u201d of our Quarterly Report\non Form 10-Q for the period ended September 30, 2024 for a discussion of the\nshareholder class action complaints relating to the restatement of the 2019\ninterim financial statements and the settlement of the SEC's and the OSC's\ninvestigations of the Restatements). Results are reported as total\nconsolidated results, reflecting our reporting structure of one reportable\nsegment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n| **Three months ended September 30, 2024** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet income | $ | 7,324 | | | $ | \u2014 | | $ | 7,324 | \nInterest income, net | | (12,460 | ) | | | \u2014 | | | (12,460 | ) \nIncome tax benefit | | (2,708 | ) | | | \u2014 | | | (2,708 | ) \nDepreciation and amortization | | 3,567 | | | | \u2014 | | | 3,567 | \nEBITDA | | (4,277 | ) | | | \u2014 | | | (4,277 | ) \nImpairment loss on long-lived assets (i) | | 14,376 | | | | \u2014 | | | 14,376 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nLoss on revaluation of financial instruments (iv) | | 293 | | | | \u2014 | | | 293 | \nForeign currency transaction loss | | 7,432 | | | | \u2014 | | | 7,432 | \nTransaction costs (vi) | | 334 | | | | \u2014 | | | 334 | \nLoss on held-for-sale assets (vii) | | 10,422 | | | | \u2014 | | | 10,422 | \nOther, net (viii) | | 315 | | | | \u2014 | | | 315 | \nShare-based compensation (ix) | | 2,262 | | | | \u2014 | | | 2,262 | \nFinancial statement review costs (xi) | | (19 | ) | | | \u2014 | | | (19 | ) \nInventory step-up recorded to cost of sales (xiii) | | 7,116 | | | | \u2014 | | | 7,116 | \nAdjusted EBITDA | $ | (6,019 | ) | | $ | \u2014 | | $ | (6,019 | ) \n \n \n\n| **Three months ended September 30, 2023** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet loss | $ | (1,590 | ) | | $ | (182 | ) | | $ | (1,772 | ) \nInterest income, net | | (13,375 | ) | | | (1 | ) | | | (13,376 | ) \nIncome tax benefit | | (1,254 | ) | | | \u2014 | | | | (1,254 | ) \nDepreciation and amortization | | 2,148 | | | | \u2014 | | | | 2,148 | \nEBITDA | | (14,071 | ) | | | (183 | ) | | | (14,254 | ) \nShare of income from equity method investments | | (1,057 | ) | | | \u2014 | | | | (1,057 | ) \nLoss on revaluation of financial instruments (iv) | | 5,291 | | | | \u2014 | | | | 5,291 | \nForeign currency transaction gain | | (8,816 | ) | | | \u2014 | | | | (8,816 | ) \nOther, net (viii) | | (974 | ) | | | (31 | ) | | | (1,005 | ) \nRestructuring costs (ix) | | 1,423 | | | | 28 | | | | 1,451 | \nShare-based compensation (x) | | 1,957 | | | | (4 | ) | | | 1,953 | \nFinancial statement review costs (xi) | | 344 | | | | \u2014 | | | | 344 | \nInventory write-down (xii) | | 716 | | | | \u2014 | | | | 716 | \nAdjusted EBITDA | $ | (15,187 | ) | | $ | (190 | ) | | $ | (15,377 | ) \n \n \n\n| **Nine months ended September 30, 2024** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet loss | $ | (3,919 | ) | | $ | \u2014 | | $ | (3,919 | ) \nInterest income, net | | (40,156 | ) | | | \u2014 | | | (40,156 | ) \nIncome tax benefit | | (5,440 | ) | | | \u2014 | | | (5,440 | ) \nDepreciation and amortization | | 6,811 | | | | \u2014 | | | 6,811 | \nEBITDA | | (42,704 | ) | | | \u2014 | | | (42,704 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nLoss on revaluation of financial instruments (iv) | | 6,550 | | | | \u2014 | | | 6,550 | \nImpairment loss on other investments (v) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (12,370 | ) | | | \u2014 | | | (12,370 | ) \nTransaction costs (vi) | | 530 | | | | \u2014 | | | 530 | \nLoss on held-for-sale assets (vii) | | 10,422 | | | | \u2014 | | | 10,422 | \nOther, net (viii) | | 737 | | | | \u2014 | | | 737 | \nRestructuring costs (ix) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (x) | | 6,513 | | | | \u2014 | | | 6,513 | \nFinancial statement review costs (xi) | | (525 | ) | | | \u2014 | | | (525 | ) \nInventory step-up recorded to cost of sales (xiii) | | 7,116 | | | | \u2014 | | | 7,116 | \nAdjusted EBITDA | $ | (27,739 | ) | | $ | \u2014 | | $ | (27,739 | ) \n \n \n\n| **Nine months ended September 30, 2023** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet loss | $ | (25,288 | ) | | $ | (4,238 | ) | | $ | (29,526 | ) \nInterest income, net | | (37,021 | ) | | | (9 | ) | | | (37,030 | ) \nIncome tax benefit | | (2,870 | ) | | | \u2014 | | | | (2,870 | ) \nDepreciation and amortization | | 6,689 | | | | 244 | | | | 6,933 | \nEBITDA | | (58,490 | ) | | | (4,003 | ) | | | (62,493 | ) \nShare of income from equity method investments | | (831 | ) | | | \u2014 | | | | (831 | ) \nImpairment loss on long-lived assets (i) | | \u2014 | | | | 205 | | | | 205 | \nLoss on revaluation of financial instruments (iv) | | 7,856 | | | | \u2014 | | | | 7,856 | \nForeign currency transaction gain | | (3,999 | ) | | | \u2014 | | | | (3,999 | ) \nOther, net (viii) | | (1,011 | ) | | | 132 | | | | (879 | ) \nRestructuring costs (ix) | | 1,423 | | | | 562 | | | | 1,985 | \nShare-based compensation (x) | | 6,823 | | | | 17 | | | | 6,840 | \nFinancial statement review costs (xi) | | 739 | | | | \u2014 | | | | 739 | \nInventory write-down (xii) | | 716 | | | | 839 | | | | 1,555 | \nAdjusted EBITDA | $ | (46,774 | ) | | $ | (2,248 | ) | | $ | (49,022 | ) \n \n(i) For the three and nine months ended September 30, 2024, impairment loss\non long-lived assets included $14,258 related to the write-down of our\nGinkgo exclusive licenses. For the nine months ended September 30, 2024,\nimpairment loss on long-lived assets included $1,631 related to the winding\ndown of operations at the Cronos Fermentation Facility. For the nine months\nended September 30, 2023, impairment loss on long-lived assets related to\ncertain leased properties associated with the Company\u2019s U.S. operations.\n\n(ii) For the three and nine months ended September 30, 2024, a revaluation\ngain on loan receivable was recognized as a result of the Cronos GrowCo\ntransaction on July 1, 2024.\n\n(iii) For the three and nine months ended September 30, 2024, the gain on\nrevaluation of equity method investment was recognized as a result of the\nCronos GrowCo transaction on July 1, 2024.\n\n(iv) For the three and nine months ended September 30, 2024 and 2023, loss on\nrevaluation of financial instruments related primarily to the Company\u2019s equity\nsecurities in Vitura.\n\n(v) For the nine months ended September 30, 2024, impairment loss on other\ninvestments represents the fair value change on the PharmaCann Option.\n\n(vi) For the three and nine months ended September 30, 2024, transaction\ncosts represent professional fees associated with the Cronos GrowCo\ntransaction.\n\n(vii) For the three and nine months ended September 30, 2024, a loss on held-\nfor-sale assets was recognized as a result of the change in the Company\u2019s\nsales strategy for the Cronos Fermentation Facility to market the assets to a\nbroader buyer pool.\n\n(viii) For the three and nine months ended September 30, 2024 and 2023,\nother, net related to (gain) loss on disposal of assets and (gain) loss on\nrevaluation of derivative liabilities.\n\n(ix) For the nine months ended September 30, 2024, restructuring costs from\ncontinuing operations related to shutdown costs at the Cronos Fermentation\nFacility, as well as employee-related severance costs associated with the\nRealignment. For the three and nine months ended September 30, 2023,\nrestructuring costs related to employee-related severance costs and other\nrestructuring costs associated with our U.S. operations.\n\n(x) For the three and nine months ended September 30, 2024 and 2023, share-\nbased compensation related to the non-cash expenses of share-based\ncompensation awarded to employees under the Company\u2019s share-based award plans.\n\n(xi) For the three and nine months ended September 30, 2024 and 2023,\nfinancial statement review costs include costs and reserves taken related to\nthe Restatements, costs related to the Company\u2019s responses to requests for\ninformation from various regulatory authorities relating to the Restatements\nand legal costs incurred defending shareholder class action complaints brought\nagainst the Company as a result of the 2019 restatement. For the three and\nnine months ended September 30, 2024, a credit balance is presented due to an\ninsurance recovery.\n\n(xii) For the three and nine months ended September 30, 2023, inventory\nwrite-downs relate to product destruction and obsolescence associated with the\nexit of our U.S. operations.\n\n(xiii) For the three and nine months ended September 30, 2024, inventory\nstep-up recorded to cost of sales represents the portion of the inventory\nstep-up from the Cronos GrowCo transaction that was recorded through the\ncondensed consolidated statements of income (loss) and comprehensive income\n(loss) in both periods.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of USD)_ | **Three months ended September 30,** | | **Change** | | **Nine months ended September 30,** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | 38 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 3,611 | | | $ | 3,970 | | | $ | (359 | ) | | (9 | )% | | $ | 14,391 | | | $ | 9,996 | | | $ | 4,395 | | 44 | % \nInventory step-up recorded to cost of sales | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/M | | | | 7,116 | | | | \u2014 | | | | 7,116 | | N/M | \nAdjusted Gross Profit | $ | 10,727 | | | $ | 3,970 | | | $ | 6,757 | | | 170 | % | | $ | 21,507 | | | $ | 9,996 | | | $ | 11,511 | | 115 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 11 | % | | | 16 | % | | N/A | | (5)pp | | | 16 | % | | | 16 | % | | N/A | | \u2014pp \nAdjusted Gross Margin (ii) | | 31 | % | | | 16 | % | | N/A | | 15pp | | | 25 | % | | | 16 | % | | N/A | | 9pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue.\n\n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n**_Constant Currency_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenue, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for the three and nine months\nended September 30, 2024, as well as cash and cash equivalents and short-term\ninvestment balances as of September 30, 2024 compared to December 31, 2023,\nwhich are considered non-GAAP financial measures. We present constant currency\ninformation to provide a framework for assessing how our underlying operations\nperformed excluding the effect of foreign currency rate fluctuations. To\npresent this information, current and comparative prior period income\nstatement results in currencies other than U.S. dollars are converted into\nU.S. dollars using the average exchange rates from the three and nine months\ncomparative periods in 2023 rather than the actual average exchange rates in\neffect during the respective current periods; constant currency current and\nprior comparative balance sheet information is translated at the prior year-\nend spot rate rather than the current period spot rate. All growth comparisons\nrelate to the corresponding period in 2023. We have provided this non-GAAP\nfinancial information to aid investors in better understanding the performance\nof our operations. The non-GAAP financial measures presented in this press\nrelease should not be considered as a substitute for, or superior to, the\nmeasures of financial performance prepared in accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on a constant currency basis for the three and nine\nmonths ended September 30, 2024 compared to the three and nine months ended\nSeptember 30, 2023 as well as cash and cash equivalents and short-term\ninvestments as of September 30, 2024 and December 31, 2023, both on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended September 30,** | | **As Reported Change** | | **Three months ended September 30,** | | **Constant Currency Change** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 34,661 | | | $ | 9,851 | | | 40 | % \nGross profit | | 3,611 | | | | 3,970 | | | | (359 | ) | | (9 | )% | | | 3,608 | | | | (362 | ) | | (9 | )% \nGross margin | | 11 | % | | | 16 | % | | | N/A | | | (5)pp | | | 10 | % | | | N/A | | | (6)pp \n| | | | | | | | | | | | | \nOperating expenses | | 37,266 | | | | 25,745 | | | | 11,521 | | | 45 | % | | | 38,079 | | | | 12,334 | | | 48 | % \nNet income (loss) from continuing operations | | 7,324 | | | | (1,590 | ) | | | 8,914 | | | N/M | | | | 8,219 | | | | 9,809 | | | N/M | \nAdjusted EBITDA | | (6,019 | ) | | | (15,187 | ) | | | 9,168 | | | 60 | % | | | (6,514 | ) | | | 8,673 | | | 57 | % \n| | | | | | | | | | | | | \n| **Nine months ended September 30,** | | **As Reported Change** | | **Nine months ended September 30,** | | **Constant Currency Change** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | | 38 | % | | $ | 88,456 | | | $ | 25,130 | | | 40 | % \nGross profit | | 14,391 | | | | 9,996 | | | | 4,395 | | | 44 | % | | | 14,591 | | | | 4,595 | | | 46 | % \nGross margin | | 16 | % | | | 16 | % | | | N/A | | | \u2014pp | | | 16 | % | | N/A | | \u2014pp \n| | | | | | | | | | | | | \nOperating expenses | | 79,555 | | | | 73,160 | | | | 6,395 | | | 9 | % | | | 80,415 | | | | 7,255 | | | 10 | % \nNet loss from continuing operations | | (3,919 | ) | | | (25,288 | ) | | | 21,369 | | | 85 | % | | | (2,424 | ) | | | 22,864 | | | 90 | % \nAdjusted EBITDA | | (27,739 | ) | | | (46,774 | ) | | | 19,035 | | | 41 | % | | | (28,022 | ) | | | 18,752 | | | 40 | % \n| | | | | | | | | | | | | \n| **As of September 30,** | | **As of December 31,** | | **As Reported Change** | | **As of September 30,** | | **Constant Currency Change** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 862,034 | | | $ | 669,291 | | | $ | 192,743 | | | 29 | % | | $ | 865,277 | | | $ | 195,986 | | | 29 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 862,034 | | | $ | 861,528 | | | $ | 506 | | | \u2014 | % | | $ | 865,277 | | | $ | 3,749 | | | \u2014 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended September 30,** | | **As Reported Change** | | **Three months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCannabis flower | $ | 26,328 | | $ | 17,414 | | $ | 8,914 | | 51 | % | | $ | 26,601 | | $ | 9,187 | | 53 | % \nCannabis extracts | | 7,789 | | | 7,268 | | | 521 | | 7 | % | | | 7,914 | | | 646 | | 9 | % \nOther | | 147 | | | 128 | | | 19 | | 15 | % | | | 146 | | | 18 | | 14 | % \nNet revenue | $ | 34,264 | | $ | 24,810 | | $ | 9,454 | | 38 | % | | $ | 34,661 | | $ | 9,851 | | 40 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Nine months ended September 30,** | | **As Reported Change** | | **Nine months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCannabis flower | $ | 64,514 | | $ | 44,556 | | $ | 19,958 | | | 45 | % | | $ | 65,413 | | $ | 20,857 | | | 47 | % \nCannabis extracts | | 22,580 | | | 18,495 | | | 4,085 | | | 22 | % | | | 22,823 | | | 4,328 | | | 23 | % \nOther | | 220 | | | 275 | | | (55 | ) | | (20 | )% | | | 220 | | | (55 | ) | | (20 | )% \nNet revenue | $ | 87,314 | | $ | 63,326 | | $ | 23,988 | | | 38 | % | | $ | 88,456 | | $ | 25,130 | | | 40 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended September 30,** | | **As Reported Change** | | **Three months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCanada | $ | 24,067 | | $ | 18,738 | | $ | 5,329 | | 28 | % | | $ | 24,509 | | $ | 5,771 | | 31 | % \nIsrael | | 7,259 | | | 5,673 | | | 1,586 | | 28 | % | | | 7,201 | | | 1,528 | | 27 | % \nOther countries | | 2,938 | | | 399 | | | 2,539 | | 636 | % | | | 2,951 | | | 2,552 | | 640 | % \nNet revenue | $ | 34,264 | | $ | 24,810 | | $ | 9,454 | | 38 | % | | $ | 34,661 | | $ | 9,851 | | 40 | % \n| | | | | | | | | | | | | \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Nine months ended September 30,** | | **As Reported Change** | | **Nine months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCanada | $ | 62,781 | | $ | 46,767 | | $ | 16,014 | | 34 | % | | $ | 63,553 | | $ | 16,786 | | 36 | % \nIsrael | | 20,565 | | | 16,160 | | | 4,405 | | 27 | % | | | 20,908 | | | 4,748 | | 29 | % \nOther countries | | 3,968 | | | 399 | | | 3,569 | | 894 | % | | | 3,995 | | | 3,596 | | 901 | % \nNet revenue | $ | 87,314 | | $ | 63,326 | | $ | 23,988 | | 38 | % | | $ | 88,456 | | $ | 25,130 | | 40 | % \n \n \n\nFor the three months ended September 30, 2024, net revenue on a constant\ncurrency basis was $34.7 million , representing a 40% increase from the\nthree months ended September 30, 2023. For the nine months ended September 30,\n2024, net revenue on a constant currency basis was $88.5 million ,\nrepresenting a 40% increase from the nine months ended September 30, 2023.\nOn a constant currency basis, net revenue increased for the three and nine\nmonths ended September 30, 2024, primarily due to higher cannabis flower and\nextract sales in the Canadian market, higher cannabis flower sales in Israel\nand higher cannabis flower sales in other countries, partially offset by an\nadverse price/mix in the Canadian adult-use cannabis flower category driving\nincreased excise tax payments as a percentage of net revenue. On a constant\ncurrency basis, the Cronos GrowCo transaction contributed $4.3 million of\ncannabis flower sales in both the three and nine months ended September 30,\n2024. No such sales were recognized for the three and nine months ended\nSeptember 30, 2023.\n\n_Gross profit_\n\nFor the three months ended September 30, 2024, gross profit on a constant\ncurrency basis was $3.6 million , representing a 9% decrease from the\nthree months ended September 30, 2023. For the nine months ended September 30,\n2024, gross profit on a constant currency basis was $14.6 million ,\nrepresenting a 46% increase from the nine months ended September 30, 2023.\nOn a constant currency basis, gross profit decreased for the three-month\ncomparative periods primarily due to the impact on cost of sales from the\ninventory step-up from the Cronos GrowCo transaction, partially offset by\nhigher cannabis flower and extract sales in the Canadian market, higher\ncannabis flower sales in Israel and higher cannabis flower sales in other\ncountries. For the nine month comparative period, the increase was primarily\ndue to higher cannabis flower and extract sales in the Canadian market, higher\ncannabis flower sales in Israel and higher cannabis flower sales in other\ncountries, partially offset by the impact on cost of sales from the inventory\nstep-up from the Cronos GrowCo transaction. On a constant currency basis, for\nboth the three and nine months ended September 30, 2024, we recognized $7.2\nmillion of inventory step-up from the Cronos GrowCo transaction in cost of\nsales. No such costs were recognized for the three and nine months ended\nSeptember 30, 2023.\n\n_Operating expenses_\n\nFor the three months ended September 30, 2024, operating expenses on a\nconstant currency basis were $38.1 million , representing a 48% increase\nfrom the three months ended September 30, 2023. For the nine months ended\nSeptember 30, 2024, operating expenses on a constant currency basis were\n$80.4 million , representing a 10% increase from the nine months ended\nSeptember 30, 2023. On a constant currency basis, operating expenses increased\nfor the three and nine months ended September 30, 2024, primarily due to the\nimpairment of the Ginkgo exclusive licenses, partially offset by lower\nsalaries and benefits, professional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor the three months ended September 30, 2024, net income from continuing\noperations on a constant currency basis was $8.2 million , representing an\nimprovement of $9.8 million from the three months ended September 30, 2023.\nFor the nine months ended September 30, 2024, net loss from continuing\noperations on a constant currency basis was $2.4 million , representing an\nimprovement of $22.9 million from the nine months ended September 30, 2023.\n\n_Adjusted EBITDA_\n\nFor the three months ended September 30, 2024, Adjusted EBITDA on a constant\ncurrency basis was $(6.5) million , representing a 57% improvement from\nthe three months ended September 30, 2023. For the nine months ended September\n30, 2024, Adjusted EBITDA on a constant currency basis was $(28.0) million ,\nrepresenting a 40% improvement from the nine months ended September 30,\n2023. The improvement in Adjusted EBITDA for the three and nine months ended\nSeptember 30, 2024 on a constant currency basis was driven by higher cannabis\nflower and extract sales in the Canadian market, higher cannabis flower sales\nin Israel and decreases in general and administrative expenses, partially\noffset by an adverse price/mix in Canada in the cannabis flower category\ndriving increased excise tax payments as a percentage of net revenue.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis was essentially unchanged at $865.3 million as of September 30, 2024,\ncompared to December 31, 2023.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nSeptember 30, 2024, September 30, 2023, and December 31, 2023. Transactions\naffecting the shareholders\u2019 equity (deficit) are translated at historical\nforeign exchange rates. The condensed consolidated statements of net income\n(loss) and comprehensive income (loss) and condensed consolidated statements\nof cash flows of our foreign operations are translated into dollars by\napplying the average foreign exchange rate in effect for the reporting period\nas reported on Bloomberg. The exchange rates used to translate from USD to\nCanadian dollars (\u201cC$\u201d) and Israeli New Shekels (\"ILS\") are shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As of** \n---|--- \n| **September 30, 2024** | | **September 30, 2023** | | **December 31, 2023** \nSpot rate | 1.3525 | | 1.3577 | | 1.3243 \nYear-to-date average rate | 1.3601 | | 1.3455 | | N/A \n \n \n\n_(Exchange rates are shown as ILS per $)_ | **As of** \n---|--- \n| **September 30, 2024** | | **September 30, 2023** | | **December 31, 2023** \nSpot rate | 3.7269 | | 3.8138 | | 3.6163 \nYear-to-date average rate | 3.6994 | | 3.6385 | | N/A \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com \n\n[ ](https://www.stocktitan.net/news/CRON/ \"Cronos Group CRON Stock News\")\n\nCronos Group\n\n### NASDAQ: [ CRON ](/news/CRON/)\n\n### CRON Rankings\n\n[ **N/A** Ranked by Market Cap ](/rankings/companies-market-cap/link-\nsymbol?s=CRON)\n\n[ **N/A** Ranked by Dividends ](/rankings/companies-dividends/link-\nsymbol?s=CRON)\n\n### CRON Latest News\n\nApr 24, 2025\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](/news/CRON/cronos-group-inc-to-hold-2025-first-quarter-earnings-\nconference-call-a31lvj1gc0md.html)\n\nApr 22, 2025\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](/news/CRON/cronos-unveils-new-\nspinach-1-2g-vapes-and-sourz-by-spinach-gummies-4hxc93v32fr4.html)\n\nMar 19, 2025\n\n[ Cronos Appoints Anna Shlimak as Chief Financial Officer ](/news/CRON/cronos-\nappoints-anna-shlimak-as-chief-financial-8vgelca718es.html)\n\nMar 10, 2025\n\n[ Cronos Group Inc. to Speak at the 37th Annual Roth Conference\n](/news/CRON/cronos-group-inc-to-speak-at-the-37th-annual-roth-\nxcxhnyellcyc.html)\n\nFeb 27, 2025\n\n[ Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n](/news/CRON/cronos-group-reports-2024-fourth-quarter-and-full-year-\nft1pmfo4ixz2.html)\n\n### CRON Stock Data __\n\n657.95M\n\n197.70M\n\n46.39%\n\n14.32%\n\n1.19%\n\nDrug Manufacturers - Specialty & Generic\n\nMedicinal Chemicals & Botanical Products\n\n[ Link ](https://www.thecronosgroup.com)\n\nCanada\n\nSTAYNER\n\nExplore\n\n * [ About ](/about)\n * [ Rhea-AI ](/rhea-ai.html)\n * [ Sitemap ](/sitemap/news)\n\nLegal\n\n * [ Terms of Use ](/terms-of-use)\n * [ Cookie Notice ](/cookies)\n * [ Privacy Policy ](/privacy)\n\nLinks\n\n * [ RSS feed ](https://www.stocktitan.net/rss)\n * [ Discord Server ](https://discord.gg/B9J4P9XW2G)\n * [ Facebook ](https://www.facebook.com/stocktitan.net)\n * [ Reddit ](https://www.reddit.com/r/StockTitan/)\n\n\u00a9 2020-2025 StockTitan.net\n\nLogin\n\nPlease enter your login and password\n\nWrong username or password.\n\nDon't have an account? Sign Up!\n\nForgot Password\n\nPlease enter your email address\n\nAn email has been sent to your address with instructions for changing your\npassword.\n\nThere is no user registered with this email.\n\nSign Up\n\nTo create a free account, please fill out the form below.\n\nThank you for signing up! \nA confirmation email has been sent to your email address. Please check your\nemail and follow the instructions in the message to complete the registration\nprocess. If you do not receive the email, please check your spam folder or\ncontact us for assistance. \nWelcome to our platform!\n\nOops! \nSomething went wrong while trying to create your new account. Please try again\nand if the problem persist, [ Email Us ](mailto:info@stocktitan.net) to\nreceive support.\n\nAlready have an account? Login\n\n",
"url": "https://www.stocktitan.net/news/CRON/cronos-group-reports-2024-third-quarter-m7eusx8000jz.html"
},
"reason": "This is a report of Cronos Group's third quarter results, providing direct and verifiable financial information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Reports 2024 Third Quarter",
"url": "https://www.stocktitan.net/news/CRON/cronos-group-reports-2024-third-quarter-m7eusx8000jz.html"
},
{
"content": {
"metadata": {
"ext_id": "50b847ad-f439-49ae-92da-c285641e4502",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group"
},
"page_content": "Advertisement oop\n\nStory continues below\n\nThis advertisement has not loaded yet, but your article continues below.\n\nSkip to Content\n\nAdvertisement 1\n\nThis advertisement has not loaded yet, but your article continues below.\n\nPharmacan is transitioning into The Cronos Group, a corporate marijuana\nplatform that owns ACMPR grow operators outright, as well as makes minority\ninvestments.\n\nArticle content\n\n[ Pharmacan Capital Corp ](http://thecronosgroup.com/) . ( [ CVE:MJN\n](https://www.google.com/finance?q=CVE%3AMJN&ei=_m5ZWJn9J4yJjAG_34_4Dg) ) ( [\nOTCMKTS:PRMCF\n](https://www.google.com/finance?q=OTCMKTS%3APRMCF&ei=fm9ZWNnEJdaejAGdnpbQAw)\n) CEO Mike Gorenstein comes from a private equity background in the U.S., and\nis transforming Pharmacan into [ The Cronos Group\n](http://thecronosgroup.com/) , a corporate marijuana platform that owns ACMPR\ngrow operators outright, as well as makes minority investments.\n\n## Sign In or Create an Account\n\nor\n\n[ View more offers ](/subscribe)\n\nIf you are a Home delivery print subscriber, online access is **included** in\nyour subscription. [ Activate your Online Access Now ](/activate/)\n\nArticle content\n\nArticle content\n\nWe apologize, but this video has failed to load.\n\nTry refreshing your browser, or \n[ tap here to see other videos from our team ](/video-centre/ \"Video Centre\")\n.\n\nArticle content\n\n**Listen to the podcast interview with Mike Gorenstein:**\n\nArticle content\n\nArticle content\n\nArticle content\n\n**Transcript:**\n\nArticle content\n\nArticle content\n\n**James West:** Mike, thanks for joining us today.\n\nArticle content\n\nInvestor\n\nCanada's best source for investing news, analysis and insight.\n\nBy signing up you consent to receive the above newsletter from Postmedia\nNetwork Inc.\n\nThanks for signing up!\n\nA welcome email is on its way. If you don't see it, please check your junk\nfolder.\n\nThe next issue of Investor will soon be in your inbox.\n\nWe encountered an issue signing you up. Please try again\n\nInterested in more newsletters? [ Browse here. ](/newsletters)\n\nArticle content\n\n**Mike Gorenstein:** Thanks for having me, James.\n\nArticle content\n\n**James West:** Mike, let\u2019s start with an overview of the value proposition\nfor investors in Cronos Group.\n\nArticle content\n\n**Mike Gorenstein:** Sure. So starting off, I think when you look at what\u2019s\nunder our umbrella, and it\u2019s multiple licensed producers. So first we have\nPeace Naturals project, it was the first non-incumbent LP to be granted a\nlicense over 90 acres, also the first sales license and the first extract/oils\nlicense in Ontario. It\u2019s a medicinally focused company, also recently exported\nto Germany, and we also, on the West Coast, have In The Zone Produce; 41\nacres, and will be rebranded to focus exclusively on the recreational market.\n\nArticle content\n\nBeneva Beneva\n\n[ Presented by **Beneva** ](https://www.beneva.ca/en/right-\npartner?utm_medium=display&utm_source=postmedia&utm_campaign=bva_b2c_ass_ind_coll_notoriete_en_ooa_ooa-\nmopes&dclid=CjkKEQjwgZCoBhDeyZ6kmobO2t8BEiQADsf-\nnJLaLuWHItWC-5DVxuA2DhGGNBqpPcq-RcqYih6mIKPw_wcB \"Presented by Beneva\n\\(Leaving Financial Post\\)\")\n\n 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. 11. 12. 13. 14. 15. 16. 17. 18. 19. 20. \n\nArticle content\n\nAlso on ITZ it\u2019s the site that we are constructing a flagship facility for a\nproject we call Indigenous Roots. It\u2019s a joint venture that is owned 50 per\ncent by Cronos and 50 per cent by a group of influential indigenous leaders.\nSpecifically Phil Fontaine. And there, in addition to the facility that is at\nIn The Zone, we will be constructing facilities on reserve land across Canada\nand potentially internationally. Cronos through Indigenous Roots will have a\npiece of equity into this facility as well.\n\nArticle content\n\nArticle content\n\n**James West:** So essentially, you are a two-operation MMPR producer, two\ndifferent licenses, two different locations, two different business models,\nmore or less?\n\nArticle content\n\nRead More\n\n 1. [ Podcast: Cam Battley on the road to recreational marijuana ](http://financialpost.com/midas-letter/podcast-cam-battley-on-the-road-to-recreational-marijuana)\n 2. [ Podcast: Aurora Cannabis CEO Terry Booth on supplying the Canadian recreational market ](http://financialpost.com/midas-letter/podcast-aurora-cannabis-ceo-terry-booth-on-supplying-the-canadian-recreational-market)\n 3. Advertisement embed-more-topic \n\nStory continues below\n\nThis advertisement has not loaded yet, but your article continues below.\n\nArticle content\n\n**Mike Gorenstein:** That\u2019s correct. In addition to that, we also have core\nassets. We own 21 per cent of Whistler Medical. Whistler is the first organic\nproducer in Canada; it\u2019s a premium model, exclusivity in Whistler Village,\nvery large expansion opportunity, cash flow positive company, actually pays\nCronos dividends. We have a right of first refusal, very strong shareholder\nagreement. We review them as great partners. We\u2019re able to work together\ncollaboratively and a lot of initiative in the share note, so we find them to\nbe invaluable.\n\nArticle content\n\nAlso we have interests in two companies that just announced they\u2019d be going\npublic in Q1: that\u2019s Hydropothecary and AbCann, as well as some equity and\noptionality in two applicants, Evergreen and Canmart.\n\nAdvertisement 1\n\nThis advertisement has not loaded yet.\n\nTrending\n\n 1. ### [ The Canadian dollar is diving against other major currencies despite gaining against the greenback ](/news/economy/canadian-dollar-diving-major-currencies-greenback)\n\n[ ](/news/economy/canadian-dollar-diving-major-currencies-greenback)\n\n[ Economy ](/category/news/economy/)\n\n 2. ### [ Canadians turn against condos as a 'good' investment as sector goes through 'rough period' ](/real-estate/canadians-turn-against-condos-as-good-investment)\n\n[ ](/real-estate/canadians-turn-against-condos-as-good-investment)\n\n[ Real Estate ](/category/real-estate/)\n\n 3. ### [ Carney makes Canada's Liberal Party acceptable to CEOs again, poll suggests ](/pmn/business-pmn/carney-makes-canadas-liberal-party-acceptable-to-ceos-again)\n\n[ ](/pmn/business-pmn/carney-makes-canadas-liberal-party-acceptable-to-ceos-\nagain)\n\n[ PMN Business ](/category/pmn/business-pmn/)\n\n 4. ### [ Anti-Trump rage unites Canada, with the exception of oil-rich Alberta ](/federal_election/anti-trump-canada-alberta)\n\n[ ](/federal_election/anti-trump-canada-alberta)\n\n[ Federal Election ](/category/federal_election/)\n\n 5. ### [ Posthaste: Job losses 'unavoidable' in Canada's auto sector as Donald Trump doubles down on tariff threat ](/news/trump-tariffs-threaten-canada-auto-industry-jobs)\n\n[ ](/news/trump-tariffs-threaten-canada-auto-industry-jobs)\n\n[ News ](/category/news/)\n\nAdvertisement 2\n\nAdvertisement\n\nThis advertisement has not loaded yet, but your article continues below.\n\nArticle content\n\n**James West:** Wow. So you guys really have, you have the barrels loaded when\nit comes to the marijuana industry.\n\nArticle content\n\n**Mike Gorenstein:** We like to think so.\n\nArticle content\n\n**James West:** Yeah. Okay, Mike, now just because I suffered from this\nconfusion, so I\u2019m going to assume that some of my followers/listeners/readers\ndid as well: I didn\u2019t realize that Cronos Group was formerly PharmaCan, and\nmaybe you could shed some light on how Cronos Group came from being PharmaCan\nto being Cronos Group, and what changes happened in terms of management and\nshareholders.\n\nArticle content\n\n**Mike Gorenstein:** Sure. So part of it is just helpful to give you my\nbackground. I was originally based out of New York at a hedge fund, Alphabet\nPartners, and I managed a $900 million volatility based fund. There were a few\nsub-funds in captive capital pools; I managed to bench a portfolio, and a\nlittle over two years ago I set out to try and find exposure in the cannabis\nindustry in the U.S. For a number of reasons, it was very difficult for us to\nfind something that we deemed investable, whether it\u2019s because the companies\nwere short-term solutions to short-term problems such as cash management, card\nprocessing, consignment. Companies weren\u2019t scalable on the cultivation side\nbecause we felt there was difficulty for them to expand beyond the state\nboundaries; you\u2019d have to comply with what\u2019s known as the Cole Memo, the tax\nregime is very punitive.\n\nArticle content\n\nArticle content\n\nAs we were looking around, we were certainly finding it hard to invest in the\nU.S. for a number of those reasons, and someone actually came and asked if we\nwere interested in investing in a SPV that was going to acquire a company\nknown as In The Zone. We looked at it, we started diligencing the Canadian\nspace, we loved the regulatory framework, we loved how scalable each of the\nLPs was, the high barriers to entry, the opportunity to distribute\ninternationally, and we really looked at Canada as the gold standard of\ncompliance, and something that we could build our platform off of.\n\nArticle content\n\nSo ITZ was actually being valued at the time for 80 per cent of it, more than\nall of PharmaCan was. PharmaCan was a investment vehicle, permanent capital,\nand its mandate was to invest in different applicants or licenses. We started\nlooking at PharmaCan; it was very similar traded, it didn\u2019t have a strong\nvaluation, it didn\u2019t have a lot of love from Bay Street, but we looked at the\nassets and really did our deep dive, and they looked to be trading for pennies\non the dollar. We also thought that, with a few changes, those assets could be\nthe best in the program.\n\nArticle content\n\nArticle content\n\nWe looked at the prices location of the acreage that was licensed versus the\npeers, and the actual scalability, and we were blown away. So myself, my\npartners from the fund, and a few other individuals pulled together and we put\nin $2 million in a private placement last October, and I took a board seat.\n\nArticle content\n\nOver the next few months, we spent a lot of time in Canada and continued to\nlearn the system, meet with all the other LPs and still, at the time, just had\nthe two systems of investing in the Canadian program. But ultimately, we kept\ncoming back to the assets, that if combined properly, how much upside they\nhad, and really fell in love with some of the teams that were there and in\nplace. We really got to know Chris at Whistler and liked him a lot. So we\ntalked with the company and let them know about our plan, and we mutually\nagreed it would be a good idea for me to take over at CEO and transform this\ninvestment fund into an operating company.\n\nArticle content\n\n**James West:** Okay.\n\nArticle content\n\n**Mike Gorenstein:** So right when I took over, I did two things: I set out to\nmake sure that ITZ was on track and growing, and that we would be able to go\nand acquire Peace Naturals. A few months after I took over, we signed a deal\nto acquire Peace Naturals, and then we closed that in September and got our\ncore asset base together.\n\nArticle content\n\n**James West:** Okay. So just because that\u2019s taken quite a bit of our\nbandwidth here, what\u2019s the near term revenue build look like going out 12, 24\nmonths for the entire enterprise, and what\u2019s the sort of state of cash flow\nand revenue now?\n\nArticle content\n\n**Mike Gorenstein:** Yeah, so I\u2019ll be very measured in what I say, because we\nare public, but if you look at the capacity of Peace Naturals by itself, and\nwhat we inherited, there\u2019s actually 38,000 square feet of already purpose-\nbuilt constructed growth space, and conservatively, we should be able to\nproduce around 4,000 kilos annually, and with some of the efficiencies we\u2019re\nadding, like LED lighting and the growing benches, and maximizing our flower-\nto-bed ratio, we think that we should be able to hit over 5,000. Projecting\nthat out over your average sales strike, I think that everyone can come to our\nown conclusions about what our revenue targets should be.\n\nArticle content\n\nYou can add in ITZ, Indigenous Roots, I don\u2019t know if you\u2019d classify it as\nrevenue, but the liquidity that we\u2019ll receive from some of these minority\ninvestments, we\u2019ve already been able to realize revenues from a balance sheet\nitem that was zero in Vert.\n\nArticle content\n\nArticle content\n\nAnd then we have certainly an expansion plan, which will be announced in due\ncourse. We do have 125 licensed buildable acres, which I think is enough\ncapacity to do quite a few interesting things.\n\nArticle content\n\n**James West:** Right. Okay, Mike, that\u2019s a great first introductory\ninterview. We\u2019re going to continue to follow this story very closely. Thank\nyou so much for your time today.\n\nArticle content\n\n**Mike Gorenstein:** You\u2019re very welcome. Thank you.\n\nArticle content\n\nArticle content\n\n_[ James West ](http://www.financialpost.com/midas-letter/about-the-midas-\nletter/index.html) is an investor and the author of the Midas Letter, an\ninvesting research report focused on Canadian markets. The views expressed on\nthis podcast \u2014 edited for clarity, brevity and compliance with securities laws\n\u2014 are his own and are presented for general informational purposes only. They\nshould not be construed as advice to invest in any securities mentioned. _\n\nArticle content\n\n_James West and/or associated funds do not own shares in any securities\nmentioned in this article. For the full Midas Letter disclosure policy,[ click\nhere ](http://www.financialpost.com/midas-letter/disclosure-policy/index.html)\n. Postmedia and Midas Letter have a revenue sharing arrangement. _\n\nArticle content\n\nShare this article in your social network\n\n * [ ](mailto:?Subject=I%20saw%20this%20on%20Financial%20Post&Body=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group)\n * [ ](https://www.reddit.com/submit?kind=link&url=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group&title= \"Share on Reddit in new tab\")\n * [ ](https://twitter.com/intent/tweet?url=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group&text=Podcast%3A%20Pharmacan%20Capital%20CEO%20Mike%20Gorenstein%20on%20transition%20to%20Cronos%20Group&via= \"Share on X in new tab\")\n * [ ](https://www.linkedin.com/sharing/share-offsite/?url=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group \"Share on LinkedIn\")\n * Share this Story : Podcast: Pharmacan Capital CEO Mike Gorenstein on transition to Cronos Group \n\n * [ Copy Link ](https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group)\n * [ Email ](mailto:?Subject=I%20saw%20this%20on%20Financial%20Post&Body=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group \"Share via email\")\n * [ X ](https://twitter.com/intent/tweet?url=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group&text=Podcast%3A%20Pharmacan%20Capital%20CEO%20Mike%20Gorenstein%20on%20transition%20to%20Cronos%20Group&via= \"Share on X in new tab\")\n * [ Reddit ](https://www.reddit.com/submit?kind=link&url=https%3A//financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group&title=Podcast%3A%20Pharmacan%20Capital%20CEO%20Mike%20Gorenstein%20on%20transition%20to%20Cronos%20Group \"Share on Reddit in new tab\")\n * [ Pinterest ](https://pinterest.com/pin/create/button/?url=https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group&media=https://smartcdn.gprod.postmedia.digital/financialpost/wp-content/uploads/2016/12/marijuana.jpg \"Share on Pinterest in new tab\")\n * [ LinkedIn ](https://www.linkedin.com/sharing/share-offsite/?url=https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group \"Share on LinkedIn in new tab\")\n * [ Tumblr ](https://www.tumblr.com/widgets/share/tool?canonicalUrl=https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group&title=Podcast%3A%20Pharmacan%20Capital%20CEO%20Mike%20Gorenstein%20on%20transition%20to%20Cronos%20Group \"Share on Tumblr in new tab\")\n\nComments\n\nYou must be logged in to join the discussion or read more comments.\n\n[ Create an Account ](/register/) [ Sign in ](/sign-in/)\n\nJoin the Conversation\n\nPostmedia is committed to maintaining a lively but civil forum for discussion.\nPlease keep comments relevant and respectful. Comments may take up to an hour\nto appear on the site. You will receive an email if there is a reply to your\ncomment, an update to a thread you follow or if a user you follow comments.\nVisit our [ Community Guidelines ](/community-guidelines/) for more\ninformation.\n\nFeatured Local Savings\n\n[ Subscribe for $0.99/week\n](https://financialpost.com/subscribe/recommended/subscribe-\nbutton/?utm_source=on-net&utm_medium=subscribe-button&utm_campaign=spring-\nsale&utm_content=)\n\n[ ](/ \"Link to Home page\")\n\n* * *\n\n* * *\n\n[ ](https://www.postmedia.com/brands \"Visit the Postmedia Brands page\n\\(Leaving Financial Post\\)\")\n\n365 Bloor Street East, Toronto, Ontario, M4W 3L4\n\n\u00a9 2025 Financial Post, a division of Postmedia Network Inc. All rights\nreserved. Unauthorized distribution, transmission or republication strictly\nprohibited.\n\nNotice for the Postmedia Network\n\nThis website uses cookies to personalize your content (including ads), and\nallows us to analyze our traffic. Read more about [ cookies here ](/cookie-\npolicy/) . By continuing to use our site, you agree to our [ Terms of Use\n](https://www.postmedia.com/terms-and-conditions/ \"Terms of Use \\(Leaving\nFinancial Post\\)\") and [ Privacy Policy ](/privacy-statement/en/) .\n\n## You've reached the 20 article limit.\n\nYou can manage saved articles in your account.\n\n[ Subscribe for $0.99/week\n](https://financialpost.com/subscribe/recommended/subscribe-\nbutton/?utm_source=on-net&utm_medium=subscribe-button&utm_campaign=spring-\nsale&utm_content=)\n\nand save up to 100 articles!\n\n## Looks like you've reached your saved article limit!\n\nYou can manage your saved articles in your [ account ](/saved-articles/) and\nclicking the X located at the bottom right of the article.\n\n",
"url": "https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group"
},
"reason": "This article discusses the transition to Cronos Group with the CEO of PharmaCan Capital, providing insights and information directly related to the company.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Podcast: PharmaCan Capital CEO Mike Gorenstein on transition to Cronos Group",
"url": "https://financialpost.com/midas-letter/podcast-pharmacan-capital-ceo-mike-gorenstein-on-transition-to-cronos-group"
},
{
"content": {
"metadata": {
"ext_id": "3e6522fc-c02e-4401-8b72-fe104c1d0250",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.pharmacann.com/news/cronos-group-investment"
},
"page_content": "[ 0 ](/cart)\n\n# Cronos Group Announces Strategic Investment in PharmaCann, a Leading U.S.\nCannabis Company\n\nJun 14\n\nWritten By [ PharmaCann ](/news?author=649b35ba9418617eda0107e3)\n\n_Investment is Expected to Position Cronos Group to Benefit from Rapid Growth\nin the U.S. Cannabis Market_\n\n_PharmaCann is Well Positioned in Limited License States Across the Midwest\nand Northeast_\n\nTORONTO and CHICAGO, June 14, 2021 (GLOBE NEWSWIRE) -- Cronos Group Inc.\n(NASDAQ: CRON) (TSX: CRON) (\u201cCronos Group\u201d) and PharmaCann Inc.\n(\u201cPharmaCann\u201d), one of the largest vertically integrated cannabis companies in\nthe United States (\u201cU.S.\u201d), today announced that they have entered into an\nagreement under which a wholly owned subsidiary of Cronos Group has purchased\nan option (the \u201cOption\u201d) to acquire an approximately 10.5% ownership stake in\nPharmaCann (the \"Transaction\u201d) on a fully-diluted basis. The Option exercise\nwill be based upon various factors, including the status of U.S. federal\ncannabis legalization, as well as regulatory approvals, including in the\nstates where PharmaCann operates that may be required upon exercise.\n\nPharmaCann has a broad geographic footprint in the U.S. and has built an\nefficient, effective and scalable operating model, including six production\nfacilities and 23 dispensaries operating under the Verilife\u2122 brand across six\nlimited license states: New York, Illinois, Ohio, Maryland, Pennsylvania and\nMassachusetts. PharmaCann continues to invest in its manufacturing\ninfrastructure and brand development to capitalize on the significant consumer\nretail and business-to-business wholesale opportunities.\n\n\u201cOur U.S. growth strategy focuses on delivering long term shareholder value by\nassembling a best-in-class brand and intellectual property portfolio and\npositioning to deploy our products in the U.S. market through investments and\nopportunities with U.S. leaders who share our vision and commitment to\nresponsibly distributing disruptive cannabinoid products that improve people\u2019s\nlives,\u201d said Kurt Schmidt, President and Chief Executive Officer of Cronos\nGroup. \u201cWe were attracted to PharmaCann as an investment because of their\ndisciplined capital allocation, strong track-record and compelling licensed\nmanufacturing and retail footprint. Further, we are excited to partner with\nPharmaCann because of our shared commitment to elevating product quality and\nconsistency through science and best in class operations and manufacturing.\u201d\n\n\u201cWe are pleased to announce our strategic alliance with Cronos Group,\u201d said\nBrett Novey, Chief Executive Officer of PharmaCann. \u201cThis investment validates\nour position as a leading vertically integrated U.S. cannabis company and\nhighlights our ability to continue to expand and enhance our strong asset\nbase. We are excited to work with Cronos Group as we advance PharmaCann\u2019s\nmission to improve people\u2019s lives through cannabis.\u201d\n\n**Transaction Terms**\n\nUnder the terms of the Transaction, total consideration paid by Cronos Group\nfor the Option was approximately $110.4 million, which was deposited by Cronos\nGroup with a third-party paying agent to be distributed directly to PharmaCann\nshareholders. The Option is subject to certain anti-dilution and other\nadjustments.\n\nAt Cronos Group\u2019s election and following its exercise of the Option, Cronos\nGroup and PharmaCann will enter into commercial agreements that would permit\neach party to offer its products through either party\u2019s distribution channels.\nIn addition, at Cronos Group\u2019s election and following its exercise of the\nOption, Cronos Group and PharmaCann will enter into an investor rights\nagreement that would provide Cronos Group with certain governance rights, such\nas a board seat or board observer subject to certain conditions, and a\nregistration rights agreement that would provide Cronos Group with customary\nregistration rights of PharmaCann common stock.\n\nMichael Gorenstein, Executive Chairman of Cronos Group, and Jason Adler, a\ndirector of Cronos Group, each hold an indirect interest in PharmaCann by way\nof their interest in a fund affiliated with Gotham Green Partners, which is a\nstockholder of PharmaCann. A special committee composed entirely of\nindependent directors of Cronos Group was formed to evaluate and make\nrecommendations to the Board of Directors of Cronos Group with respect to the\nTransaction and other opportunities in the U.S.\n\nThe Transaction has been approved by the PharmaCann Board of Directors and the\nrequisite PharmaCann shareholders and approved by the Cronos Group Board of\nDirectors (other than Mr. Gorenstein and Mr. Adler) following the unanimous\nrecommendation of the special committee of independent directors.\n\nCowen served as financial advisor to the special committee of independent\ndirectors of Cronos Group and Sullivan & Cromwell LLP and McGuireWoods LLP\nserved as legal advisors to Cronos Group. Perella Weinberg Partners LP served\nas financial advisor to Altria Group, Inc.\n\nCanaccord Genuity Corp. served as financial advisor and Fox Rothschild LLP\nserved as legal advisor to PharmaCann.\n\n**About Cronos Group \n** Cronos Group is an innovative global cannabinoid company with international\nproduction and distribution across five continents. Cronos Group is committed\nto building disruptive intellectual property by advancing cannabis research,\ntechnology and product development. With a passion to responsibly elevate the\nconsumer experience, Cronos Group is building an iconic brand portfolio.\nCronos Group\u2019s portfolio includes [ PEACE NATURALS\n](https://peacenaturals.com/ \"PEACE NATURALS\") \u2122, a global wellness platform,\ntwo adult-use brands, [ COVE ](https://covecannabis.ca/ \"COVE\") \u2122 and [\nSpinach ](https://spinachcannabis.com/ \"Spinach\") \u2122, and three U.S. hemp-\nderived CBD brands, [ Lord Jones ](https://lordjones.com/ \"Lord Jones\") \u2122, [\nHappy Dance ](https://doahappydance.com/ \"Happy Dance\") \u2122 and [ PEACE+\n](https://peaceplus.com/ \"PEACE+\") \u2122. For more information about Cronos Group\nand its brands, please visit: [ thecronosgroup.com\n](https://thecronosgroup.com/ \"thecronosgroup.com\") .\n\n**About PharmaCann \n** PharmaCann is one of the nation\u2019s largest privately held and vertically\nintegrated cannabis companies, providing safe, reliable, and high-quality\ncannabis products to people in both the medical and adult-use markets. The\nPharmaCann geographic footprint includes PharmaCann dispensaries and\ncultivation and processing operations in six states. For more information\nabout PharmaCann, please visit: [ PharmaCann.com ](https://www.pharmacann.com/\n\"PharmaCann.com\") .\n\n**Forward-looking Statements \n** This press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws (collectively, \u201cForward-looking\nStatements\u201d). All information contained herein that is not clearly historical\nin nature or that necessarily depends on future or subsequent events may\nconstitute Forward-looking Statements. In some cases, Forward-looking\nStatements can be identified by the use of forward-looking terminology such as\n\u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d, \u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d,\n\u201cestimate\u201d, \u201cbelieve\u201d or the negative of these terms, or other similar words,\nexpressions or phrases intended to identify Forward-looking Statements. Some\nof the Forward-looking Statements contained in this press release include\nCronos Group\u2019s intention to build an international iconic brand portfolio and\ndevelop disruptive intellectual property. Forward-looking Statements are\nnecessarily based upon a number of estimates and assumptions that, while\nconsidered reasonable by management, are inherently subject to significant\nbusiness, economic and competitive risks, financial results, results,\nperformance or achievements expressed or implied by those Forward-looking\nStatements. Actual results may differ materially from current expectations\nbecause of risks associated with, among other things: (i) uncertainties as to\nCronos Group\u2019s consideration and/or ability to exercise the Option, including\nthe status and future development of federal legalization of cannabis in the\nU.S.; (ii) uncertainties as to Cronos Group\u2019s anticipated benefits of the\nTransaction and assumptions as to the timing of exercise of the Option; (iii)\npossibilities that the various conditions to Cronos Group\u2019s exercise of the\nOption may not be satisfied, including, without limitation, the state\nregulatory approvals that may be required prior to the exercise of the Option\nand the possibility that a governmental entity may prohibit, delay or refuse\nto grant any state regulatory approval in connection with the exercise of the\nOption; (iv) changes in U.S. federal laws regarding the cultivation,\ndistribution or possession of marijuana, including, without limitation, the\nControlled Substances Act of the U.S.; (v) assuming all conditions to exercise\nthe Option are satisfied, possibilities that the exercise of the Option may\ninvolve unexpected costs; (vi) possibilities that the industry in which\nPharmaCann and its subsidiaries operates may be subject to future risks,\nincluding regulatory and license risks; (vii) response of employees,\ncustomers, suppliers, business partners, regulators, markets and the public to\nthe announcement of the Transaction and if applicable, in connection with\nexercise of the Option; and (viii) other expectations and assumptions\nconcerning the transactions contemplated between Cronos Group and PharmaCann.\nWhile the list of factors presented here is representative, no list should be\nconsidered a statement of all potential risks, uncertainties or assumptions\nthat could have a material adverse effect on Cronos Group\u2019s consolidated\nfinancial condition or results of operations. Investors are cautioned that\nForward-looking Statements are subject to various risks and uncertainties,\nmany of which are difficult to predict and generally beyond the control of\nCronos Group, that could cause actual results and developments to differ\nmaterially from those expressed in, or implied or projected by, the Forward-\nlooking Statements. Forward-looking Statements are not guarantees of future\nperformance and involve known and unknown risks, uncertainties and other\nfactors, including those discussed in Cronos Group\u2019s Annual Report on Form\n10-K for the year ended December 31, 2020, and Cronos Group\u2019s Quarterly Report\non Form 10-Q for the period ended March 31, 2021, both of which have been\nfiled on SEDAR and EDGAR and can be accessed at www.sedar.com and\nwww.sec.gov/edgar, respectively. Any Forward-looking Statement included in\nthis press release is made as of the date of this press release and, except as\nrequired by law, Cronos Group disclaims any obligation to update or revise any\nForward-looking Statement. Readers are cautioned not to put undue reliance on\nany Forward-looking Statement.\n\n[ PharmaCann ](/news?author=649b35ba9418617eda0107e3)\n\n[ Previous Previous PharmaCann Completes $85 Million Senior Secured Note\nOffering ](/news/senior-secured-note-offering) [ Next Next Cubs great Ryne\nSandberg new spokesman for Chicago-based weed retailer Verilife, as marijuana\ngoes fully mainstream ](/news/cubs-great-ryne-sandberg-new-spokesman-for-\nchicago-based-weed-retailer-verilife-as-marijuana-goes-fully-mainstream)\n\n[ ](https://www.pharmacann.com)\n\n[ About ](/about-pharmacann)\n\n[ Careers ](/careers)\n\n[ Contact ](/contact)\n\n[ News ](https://www.pharmacann.com/news)\n\n[ Privacy Policy ](/privacy-policy)\n\n[ Terms of Service ](/terms-of-service)\n\n\u00a9 2025 PharmaCann Inc.\n\nTop\n\n",
"url": "https://www.pharmacann.com/news/cronos-group-investment"
},
"reason": "This page directly discusses Cronos Group's investment, providing firsthand information about the company's activities.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Investment",
"url": "https://www.pharmacann.com/news/cronos-group-investment"
},
{
"content": {
"metadata": {
"ext_id": "da13d150-093a-4f1f-a5a3-3edb5a6160d3",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.beautypackaging.com/contents/view_breaking-news/2019-08-05/cronos-group-acquires-redwood/"
},
"page_content": "##### [ Beauty Industry ](https://www.beautypackaging.com/breaking-\nnews?sticky=beauty-industry)\n\n## Cronos Group Acquires Redwood\n\nTransaction expected to close in Q3 of 2019.\n\nAugust 5, 2019\n\nBy: [ Charlie Sternberg\n](https://www.beautypackaging.com/author/csternbergrodmanmedia-com/)\n\nAssociate Editor\n\n * [ ](https://www.linkedin.com/shareArticle?url=https://www.beautypackaging.com/breaking-news/cronos-group-acquires-redwood/&title=Cronos Group Acquires Redwood)\n * [ ](https://www.facebook.com/sharer/sharer.php?u=https://www.beautypackaging.com/breaking-news/cronos-group-acquires-redwood/&title=Cronos Group Acquires Redwood)\n * [ ](https://twitter.com/intent/tweet?url=https://www.beautypackaging.com/breaking-news/cronos-group-acquires-redwood/&text=Cronos Group Acquires Redwood)\n\n[ Cronos Group Inc. ](https://thecronosgroup.com/) has entered into a\ndefinitive agreement to acquire four of Redwood Holding Group LLC\u2019s operating\nsubsidiaries. \n \nRedwood manufactures, markets and distributes hemp-derived cannabidiol (CBD)\ninfused skincare and other consumer products online and through retail and\nhospitality partner channels in the United States under the brand, Lord Jones.\nRedwood\u2019s products use pure hemp oil that contains natural phytocannabinoids\nand terpenes found in the plant. \n \nRedwood was co-founded in 2017 by Robert Rosenheck and Cindy Capobianco.\nFollowing the close of the transaction, Rosenheck and Capobianco will join\nCronos Group and continue to lead the development of the Redwood platform with\nthe support of the current team, brand names and operating locations remaining\nin place. \n \n\u201cRob and Cindy have built a differentiated, best-in-class platform with hemp-\nbased CBD formulations that stand for quality and consistency. Our goal is to\npreserve the integrity of all Rob and Cindy have created, while also learning\nfrom them and leveraging Cronos Group\u2019s resources to capitalize on the\nsignificant demand for skincare and other consumer products derived from hemp.\nLeading the industry forward responsibly and being a part of the conversation\nwith industry stakeholders remains a top priority for Cronos Group in this\nevolving area,\u201d said Mike Gorenstein, Cronos Group\u2019s chairman, president and\nCEO. \n \n\u201cThe inspiration for our company was simple, we wanted to create a brand we\nwished we could buy as adult consumers,\u201d said Rosenheck. \u201cWe chose Cronos\nGroup because they share our vision and values and will help us continue our\nmission. We are incredibly proud of our team and grateful to our customers who\nare responsible for our success. Cindy and I look forward to working with\nCronos Group to further extend the love and enthusiasm for our products.\u201d \n \nUnder the terms of the agreement, Cronos Group will acquire Redwood for\napproximately $300 million, net of Redwood\u2019s estimated cash and debt and\nsubject to a customary working capital adjustment as described in the\nagreement. $225 million of the total consideration (subject to the foregoing\nadjustments) will be paid in cash with the balance paid in newly issued Cronos\nGroup common shares. Cronos Group will fund the cash portion of the\ntransaction with cash on hand. \n \nThe transaction is expected to close in the third quarter of 2019, subject to\ncustomary closing conditions and regulatory approvals.\n\n#### Keep Up With Our Content. Subscribe To Beauty Packaging Newsletters\n\n[ ](/subscription/)\n\n##### About Us\n\n[ ](https://www.beautypackaging.com/)\n\nNow in its 25th year, Beauty Packaging continues to bring brand marketers\ntogether with packaging suppliers in every issue\u2014and through its dynamic\nwebsite\n\n##### Explore Our Brands\n\n[ ](https://www.happi.com/)\n\n[ ](https://www.nonwovens-industry.com/)\n\n[ ](https://www.inkworldmagazine.com/)\n\n[ ](https://www.nutraceuticalsworld.com/)\n\n[ ](https://www.printedelectronicsnow.com/)\n\n[ ](https://www.contractpharma.com/)\n\n[ ](https://www.odtmag.com/)\n\n[ ](https://www.coatingsworld.com/)\n\n[ ](https://www.labelandnarrowweb.com.)\n\n[ ](https://www.mpo-mag.com/)\n\n * About Is \n * Advertise with Us \n * [ Editorial Guidelines ](/editorial-guidelines/)\n * Privacy Policy \n * Terms & Conditions \n\n * [ __ ](https://www.facebook.com/BeautyPackaging/)\n * [ __ ](https://x.com/i/flow/login?redirect_after_login=%2Fbeautypackaging)\n * [ __ ](https://www.linkedin.com/company/nutraceuticals-world/)\n * __\n * __\n\nCopyright \u00a9 2024 Rodman Media. All rights reserved. Use of this constitutes\nacceptance of our privacy policy.\n\nThe material on this site may not be reproduced, distributed, transmitted, or\notherwise used, except with the prior written permission of Rodman Media.\n\nCopyright \u00a9 2024 Rodman Media. All rights reserved. Use of this constitutes\nacceptance of our privacy policy.\n\nThe material on this site may not be reproduced, distributed, transmitted, or\notherwise used, except with the prior written permission of Rodman Media.\n\n[ ](https://www.beautypackaging.com)\n\n### Forgot your password?\n\nEnter your account email.\n\n__\n\n[ ](https://www.beautypackaging.com)\n\nA verification code was sent to your email , \n**Enter the 6-digit code sent to your mail.**\n\n__\n\nPlease Enter valid OTP\n\nDidn't get the code? Check your spam folder or [ resend code\n](javascript:void\\(0\\);)\n\n[ ](https://www.beautypackaging.com)\n\nSet a new password for signing in and accessing your data.\n\n__\n\n * 8 characters minimum \n * Upper and lower characters \n * 1 special character \n * 1 number \n\n[ ](https://www.beautypackaging.com)\n\nYour Password has been Updated !\n\n",
"url": "https://www.beautypackaging.com/contents/view_breaking-news/2019-08-05/cronos-group-acquires-redwood/"
},
"reason": "This article reports on Cronos Group's acquisition of Redwood, a transaction directly involving the company. The information is factual and sourced from a reliable industry publication.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group acquires Redwood",
"url": "https://www.beautypackaging.com/contents/view_breaking-news/2019-08-05/cronos-group-acquires-redwood/"
},
{
"content": {
"metadata": {
"ext_id": "a911e113-9dac-4613-b17d-811b98e58402",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.investmentexecutive.com/news/from-the-regulators/u-s-investors-can-stay-in-canadian-cronos-group-class-action/"
},
"page_content": " * [ CE Corner ](https://www.cecorner.ca/)\n * [ Webinars ](https://www.investmentexecutive.com/tools_/webinars/)\n * [ Soundbites ](https://www.investmentexecutive.com/soundbites/)\n\n[ Home ](https://www.investmentexecutive.com/) __ [ News\n](https://www.investmentexecutive.com/news/) __ [ From the Regulators\n](https://www.investmentexecutive.com/news/from-the-regulators/) __ U.S.\ninvestors can stay in Canadian Cronos Group class action\n\niStock.com / Simon2579\n\nJames Langton\n\nDespite a parallel case underway in U.S. courts, an Ontario court has given\nthe green light to a proposed class action against Toronto-based Cronos Group\nInc. alleging that it made misrepresentations to investors.\n\nThe Ontario Superior Court of Justice certified a securities class action suit\nagainst the company, which trades on both the TSX and Nasdaq. The company\nsought to stay the claims of U.S. shareholders in the proposed Canadian class\naction on the basis that U.S. investors are already covered by the case filed\nin the U.S. district court for the Eastern District of New York.\n\nThe allegations in both cases involve claims that Cronos overstated its\nrevenues in 2019. The firm corrected and restated those filings and, in\nsettlements with the Ontario Securities Commission and the U.S. Securities and\nExchange Commission, the company admitted to overstating its revenues and not\nhaving adequate internal controls over financial reporting.\n\nShareholder class actions followed, but the allegations haven\u2019t been proven in\neither case. While the Ontario case has now been certified, the U.S. court has\nreserved its decision on certification.\n\nThe Ontario court said the plaintiffs had no trouble establishing a potential\ncause of action \u2014 secondary market misrepresentation.\n\nThe dispute is over which investors should be covered by the case. While the\ncompany argued U.S. shareholders should be excluded from the Canadian action,\nthe plaintiffs maintained they should be able to litigate in both\njurisdictions and participate in whichever resolution they prefer.\n\nThe U.S. shareholders \u201cconcede that at some point there will be what has been\ncalled a \u2018day of reckoning\u2019 in which one court will be asked to recognize the\njudgment or settlement in the other, but they wish to put off that day until\nit actually dawns,\u201d the court said.\n\nAccording to the court, U.S. shareholders will face a decision between\nproceeding in U.S. courts, where the damages are likely to be higher but where\nthere\u2019s also a higher bar to establishing liability \u2014 given that U.S. law\nrequires plaintiffs to prove intent \u2014 and the Canadian case, where damages\nwill likely be lower but plaintiffs don\u2019t have to establish intent.\n\n\u201cAs plaintiff\u2019s counsel point out, a settlement of the [New York] action may\nbe harder to achieve, but ultimately more generous, than a settlement of the\nOntario action,\u201d the court said. \u201cOne can with some confidence predict that\nproposed settlements may take different shapes on each side of the border,\nperhaps reflecting certain features of the two justice systems that\ndistinguish the two actions.\u201d\n\nUltimately, the Ontario court ruled that U.S. shareholders should not be\nexcluded from the case in Ontario at the outset.\n\n\u201cThe upshot of this is that the U.S. shareholders can remain in the class in\nthe present case, even though they have also brought a parallel U.S. case. It\nwill be for this court in the event of a future settlement or judgment to keep\nin mind that no class member should get \u2018two bites at the apple\u2019 against any\ndefendant,\u201d the court said in certifying the case.\n\n__ Share this article and your comments with peers on social media\n\n * Facebook \n * LinkedIn \n * Twitter \n\n## Latest news In From the Regulators\n\n### [ CFTC consults on 24/7 trading\n](https://www.investmentexecutive.com/news/from-the-regulators/cftc-consults-\non-24-7-trading/)\n\nConsultation examines risks, benefits of round-the-clock trading\n\n * By: [ James Langton ](https://www.investmentexecutive.com/writer/james-langton/)\n * April 22, 2025 April 22, 2025 \n * 13:55 \n\n### [ Court to hear OSC receivership application\n](https://www.investmentexecutive.com/news/from-the-regulators/court-to-hear-\nosc-receivership-application/)\n\nRegulator seeks receiver for real estate investment venture\n\n * By: [ James Langton ](https://www.investmentexecutive.com/writer/james-langton/)\n * April 17, 2025 April 17, 2025 \n * 16:53 \n\n### [ CSA sets rules of the road for crypto funds\n](https://www.investmentexecutive.com/news/from-the-regulators/csa-sets-rules-\nof-the-road-for-crypto-funds/)\n\nRegulators codify their approach to crypto funds in rules\n\n * By: [ James Langton ](https://www.investmentexecutive.com/writer/james-langton/)\n * April 17, 2025 April 17, 2025 \n * 15:16 \n\n### [ CSA takes action to boost capital markets\n](https://www.investmentexecutive.com/news/from-the-regulators/csa-takes-\naction-to-boost-capital-markets/)\n\nRegulators aim to make it easier, cheaper to go public, raise capital\n\n * By: [ James Langton ](https://www.investmentexecutive.com/writer/james-langton/)\n * April 17, 2025 April 17, 2025 \n * 13:22 \n\n## Today's top stories\n\n### [ What each party\u2019s election pledges will cost\n](https://www.investmentexecutive.com/news/industry-news/what-each-partys-\nelection-pledges-will-cost/)\n\nHere is how the claimed numbers will dent the federal debt\n\n * By: [ Jonathan Got ](https://www.investmentexecutive.com/writer/jonathan-got/)\n * April 23, 2025 April 23, 2025 \n * 16:27 \n\n### [ FP Canada, Institute of Financial Planning update guidelines on\nexpected returns ](https://www.investmentexecutive.com/news/industry-news/fp-\ncanada-institute-of-financial-planning-update-guidelines-on-expected-returns/)\n\nCanadian and U.S. equities are both projected to return 6.6% in the coming\ndecade\n\n * By: [ IE Staff ](https://www.investmentexecutive.com/writer/ie-staff/)\n * April 23, 2025 April 23, 2025 \n * 16:55 \n\n### [ BCSC sanctions crypto payments company\n](https://www.investmentexecutive.com/news/from-the-regulators/bcsc-sanctions-\ncrypto-payments-company/)\n\nCompany illegally distributed securities, misled investors, regulator alleged\n\n * By: [ James Langton ](https://www.investmentexecutive.com/writer/james-langton/)\n * April 23, 2025 April 23, 2025 \n * 16:15 \n\n### [ Poilievre defends economic growth projections in Conservative platform\nas \u2018essential\u2019 ](https://www.investmentexecutive.com/news/research-and-\nmarkets/poilievre-defends-economic-growth-projections-in-conservative-\nplatform-as-essential/)\n\nLiberal and Conservative platforms criticized for lacking \"consideration of\nprudence and risk\"\n\n * By: [ Craig Lord, The Canadian Press ](https://www.investmentexecutive.com/writer/craig-lord-the-canadian-press/)\n * April 23, 2025 April 23, 2025 \n * 14:24 \n\n [ ](https://facebook.com/InvestmentExecutive/ \"Follow us on Facebook\")\n [ ](https://www.linkedin.com/company/investment-executive \"Follow us on LinkedIn\")\n [ ](https://twitter.com/IE_Canada \"Follow us on Twitter\")\n [ ](https://www.investmentexecutive.com/rss-feeds/ \"RSS Feeds\")\n\n * [ News ](https://www.investmentexecutive.com/news/)\n * [ Industry News ](https://www.investmentexecutive.com/news/industry-news/)\n * [ From the Regulators ](https://www.investmentexecutive.com/news/from-the-regulators/)\n * [ People ](https://www.investmentexecutive.com/news/people/)\n * [ Products ](https://www.investmentexecutive.com/news/products/)\n\n * [ Building Your Business ](https://www.investmentexecutive.com/building-your-business/)\n * [ Client Communications ](https://www.investmentexecutive.com/building-your-business/client-communications/)\n * [ Practice Management ](https://www.investmentexecutive.com/building-your-business/practice-management/)\n * [ Financial Planning ](https://www.investmentexecutive.com/building-your-business/financial-planning/)\n\n * [ In Depth ](https://www.investmentexecutive.com/in-depth/)\n * [ Special Reports ](https://www.investmentexecutive.com/in-depth/special-reports/)\n * [ Report Cards ](https://www.investmentexecutive.com/in-depth/report-cards/)\n * [ Magazines ](https://www.investmentexecutive.com/in-depth/magazines/)\n * [ Partner Reports ](https://www.investmentexecutive.com/in-depth/partner-reports/)\n\n * [ Insight ](https://www.investmentexecutive.com/insight/)\n * [ Editorials ](https://www.investmentexecutive.com/insight/editorials/)\n * [ Columns ](https://www.investmentexecutive.com/insight/columns/)\n * [ Letters to the Editor ](https://www.investmentexecutive.com/insight/letters-to-the-editor/)\n\n * [ Inside Track ](https://www.investmentexecutive.com/inside-track/)\n\n * [ Tools ](https://www.investmentexecutive.com/tools/)\n\n * [ Brand Knowledge ](https://www.investmentexecutive.com/brand-knowledge/)\n\n * [ Newspaper ](https://www.investmentexecutive.com/newspaper/)\n * [ ](https://www.investmentexecutive.com/newspaper/)\n * [ Free Subscription ](https://www.investmentexecutive.com/my-account/subscribe-to-newspaper/)\n\n * [ ](http://www.investmentexecutive.com)\n * [ ](http://www.finance-investissement.com/)\n * [ ](http://www.advisor.ca/)\n * [ ](http://www.conseiller.ca/)\n\n * [ About Us ](https://www.investmentexecutive.com/about-us/)\n * [ Contact Us ](https://www.investmentexecutive.com/contact-us/)\n * [ Reprints and Permissions ](https://www.investmentexecutive.com/reprints-and-permissions/)\n * [ Advertise ](https://www.investmentexecutive.com/advertise-with-us/)\n * [ Statement of Ethics ](https://www.investmentexecutive.com/statement-of-ethics/)\n * [ Terms of Use ](https://www.newcom.ca/terms-of-use/)\n * [ Privacy Policy ](https://www.newcom.ca/privacy-policy/)\n * [ Accessibility ](https://www.newcom.ca/accessibility-policy/)\n\n[ ](https://newcom.ca/) \n\n\u00a9 Newcom Media Inc.\n\nWe use cookies to make your website experience better. By accepting this\nnotice and continuing to browse our website you confirm you accept our [ Terms\nof Use ](https://www.newcom.ca/terms-of-use/) & [ Privacy Policy\n](https://www.newcom.ca/privacy-policy/#cookies) .\n\n[ read more >> ](https://www.newcom.ca/privacy-policy/#cookies)\n\n",
"url": "https://www.investmentexecutive.com/news/from-the-regulators/u-s-investors-can-stay-in-canadian-cronos-group-class-action/"
},
"reason": "This article discusses a class action involving Cronos Group, providing legal and regulatory information directly related to the company.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "U.S. investors can stay in Canadian Cronos Group class action",
"url": "https://www.investmentexecutive.com/news/from-the-regulators/u-s-investors-can-stay-in-canadian-cronos-group-class-action/"
},
{
"content": {
"metadata": {
"ext_id": "4fd19675-f322-40c5-9817-5112b3e60643",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/oNlWufwi"
},
"page_content": "## Sourcing Manager\n\nProcurement Stayner, ON\n\n* * *\n\n[ Apply ](/cronosgroup/job/oNlWufwi/apply)\n\n### Description\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit: [\nhttps://thecronosgroup.com/ ](https://thecronosgroup.com/) .\n\nAt Cronos Group, we hire talented people who thrive on solving difficult\nproblems and give them the opportunity to hone new skills and approaches. If\nyou want to play a part in shaping an innovative industry and help build a\nhistorically significant company, we want to meet you.\n\nThe Sourcing Manager is responsible for assessing vendors, leading\nRFI/RFP/RFQs, negotiating product/service costs and contracts, onboarding new\nsuppliers, and supplier relationship management. This role will lead sourcing\nefforts for the product/service/support categories it\u2019s assigned, which may\nfluctuate from time to time but include; Contract Manufacturing, Product\nPackaging, Flower/Biomass, Product Ingredient, Sales, Marketing, R&D, IT,\nLegal, Finance, Operations, and HR. To be successful in this role, the\nSourcing Manager will need to proactively engage with cross-functional\nstakeholders to successfully source products and services to support the\ndelivery of business objectives. This role will develop the sourcing strategy,\nlead the assessment of third-party capabilities (production, technology,\ncapacity, and quality), and drive the \u201cmake or buy\u201d decision to optimize\ncapital investments and production costs. This role leads supply assurance\nefforts and delivers financial value to the business through the execution of\ncost savings and value optimization projects. Cronos is a fast-paced company\nin a growing industry so this role must be flexible and ready to support the\nrapid launch of new products.\n\nThis position will report to the Director of Procurement and will be based 5\ndays a week onsite in Stayner, Ontario.\n\nWhat you\u2019ll be doing:\n\n * Drive sourcing efforts, create sourcing strategies, and ensure compliance in all categories managed. \n * Partner with cross-functional stakeholders and the senior leadership team to ensure business needs are being met. \n * Lead contract negotiations (pricing, commercial terms) with focus to reduce costs, minimize risks, and ensure business continuity \n * Build in-depth knowledge of market dynamics, emerging technologies, and competitive landscape for all categories managed. \n * Lead the capability assessment, sourcing, and development of the supply base to enable the rapid launch of new products in support of the company\u2019s growth agenda. \n * Lead cross-functional team driving \u201cmake vs buy\u201d decisions to optimize capital investments and production costs \n * Lead the due diligence, qualification, and on-boarding of all new suppliers. \n * Working closely with the new product launch team and operations team to ensure we provide timely supply needed to enable the business to continue growing. \n * Deliver financial value through cost savings and value optimization projects. \n * Manage supplier relationships, including business, scorecard, and KPI reviews \n\nYou\u2019ll need to have:\n\n * 7-10 years of experience in sourcing or procurement. \n * College degree required, ideally focus on Supply Chain Management, Business Administration, Finance, or other related field. Relevant certifications (e.g., CPP, CPSM) are a plus. \n * Ability to work in a fast-paced environment across multiple workstreams. \n * Strong business acumen, analytical and problem-solving capabilities \n * Exceptional organizational skills and attention to detail is required \n * Knowledge of sourcing fundamentals and experience leading complex RFP\u2019s with tight deadlines \n * Strong understanding of manufacturing in a Consumer Goods or Pharma setting is preferred \n * Capable of managing and influencing stakeholders in an indirect/project type manner \n * Demonstrated abilities in strategic sourcing, contract negotiations, and supplier management \n * Highly effective written and oral communication skills with ability to present complex information to varied audiences \n * Experience in SAP; High level of proficiency in Excel, Word, PowerPoint, Outlook, and Teams \n\nWe are committed to fostering a diverse and inclusive work environment, and we\nwelcome and encourage applications from people with disabilities and people\nwith diverse backgrounds, identities, and cultures. For candidates with\ndisabilities, accommodations are available upon request in all phases of the\nselection process.\n\n[ Apply ](/cronosgroup/job/oNlWufwi/apply) Apply Later\n\n[ Back to Current Openings ](/cronosgroup/jobs)\n\n#### Share this job\n\n[ __ LinkedIn ]() [ __ Facebook ]() __ Twitter __ Email\n\n__\n\n[ _ Powered by Jobvite _ ](https://www.jobvite.com/support/job-seeker-\nsupport/)\n\n * [ Website Terms of Use ](https://thecronosgroup.com/term_of_use.php)\n * [ Website Privacy Statement ](https://thecronosgroup.com/website_privacy_statement.php)\n * [ Cookie Policy ](https://thecronosgroup.com/cookie_policy.php)\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\nBack to Top\n\n",
"url": "https://jobs.jobvite.com/cronosgroup/job/oNlWufwi"
},
"reason": "This is a job posting on Cronos Group's jobvite page, providing direct and official information about the company's hiring activities.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Job posting at Cronos Group",
"url": "https://jobs.jobvite.com/cronosgroup/job/oNlWufwi"
},
{
"content": {
"metadata": {
"ext_id": "1ad0cf5a-3851-42b9-b9f7-991a9cc0f1ab",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/ofIyvfwK"
},
"page_content": "## Process Engineer\n\nOperations Stayner, ON\n\n* * *\n\n[ Apply ](/cronosgroup/job/ofIyvfwK/apply)\n\n### Description\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit: [\nhttps://thecronosgroup.com/ ](https://thecronosgroup.com/) .\n\nAt Cronos Group, we hire talented people who thrive on solving difficult\nproblems and give them the opportunity to hone new skills and approaches. If\nyou want to play a part in shaping an innovative industry and help build a\nhistorically significant company, we want to meet you.\n\nAs the Process Engineer, you will be responsible for the direction,\ncoordination, implementation, execution, control and completion of\nmanufacturing project(s), while remaining aligned with strategy, commitments\nand goals of the organization. You will maintain knowledge of larger\nlandscapes without neglecting granular details while tracking project health,\nstaying alert for risk and resolving issues as they arise. The ideal candidate\nmust be highly motivated, energetic and able to work as part of a team and at\na fast pace.\n\nThis position is based out of Stayner, ON\n\nWhat you\u2019ll be doing:\n\n * Plan and implement projects throughout their lifecycles for Supply Chain and Operations \n * Developing and distributing various technical documents such as Work Instructions and Procedures related to Operations and Supply Chain \n * Taking the lead on Operations and Supply Chain tasks for new product launches and process improvements \n * Maintaining clear communication about the project's progress to the broader project team \n * Collaborating closely with Commercialization teams as well as other cross functional departments to ensure the projects do not interfere in the day-to-day operations \n * Creating plans to accelerate or mitigate any challenges that arise during the process \n * Oversee training for operational stakeholders on new product changes and SKUs, ensuring smooth implementation onsite for production, shipping, inventory, and engineering teams \n * Manage stakeholder expectations and project requirements \n * Assist Operational leaders in executing various operations projects, both strategic and tactical in nature, involving broad stakeholders and cross-functional teams. Responsibilities include planning, documentation, training, trials, and seamless management of connections with other projects \n * Track deliverables and ensure all downstream areas are ready for commercial projects \n * Maintain standards and monitor scope with project quality \n * Monitor and report on project progress \n * Present to stakeholders\u2019 reports on progress as well as problems and solutions \n * Implement and manage change when necessary to meet project outputs \n * Evaluate and assess result of project \n\nYou\u2019ll need to have:\n\n * Engineering diploma or degree preferred with Industrial Engineering focus \n * 4+ years\u2019 experience in project management, especially larger projects \n * Project management qualification (PMP) or equivalent \n * Experience in Agile teams \n * Proven leadership skills \n * Theoretical and practical project management knowledge \n * Knowledge of various equipment used in production and packaging \n * Experience in strategic planning, risk management and/or change management \n * Proficiency in project management software tools & Office Suites (Excel, PowerPoint, Projects, etc.) \n * Critical thinking and problem solving \n * Excellent decision-making and leadership capabilities \n * Experience in contract negotiation \n * Conflict resolution experience \n * Adaptability \n * Sustains productivity levels even during intense or stressful periods \n\nWe are committed to fostering a diverse and inclusive work environment, and we\nwelcome and encourage applications from people with disabilities and people\nwith diverse backgrounds, identities, and cultures. For candidates with\ndisabilities, accommodations are available upon request in all phases of the\nselection process.\n\n[ Apply ](/cronosgroup/job/ofIyvfwK/apply) Apply Later\n\n[ Back to Current Openings ](/cronosgroup/jobs)\n\n#### Share this job\n\n[ __ LinkedIn ]() [ __ Facebook ]() __ Twitter __ Email\n\n__\n\n[ _ Powered by Jobvite _ ](https://www.jobvite.com/support/job-seeker-\nsupport/)\n\n * [ Website Terms of Use ](https://thecronosgroup.com/term_of_use.php)\n * [ Website Privacy Statement ](https://thecronosgroup.com/website_privacy_statement.php)\n * [ Cookie Policy ](https://thecronosgroup.com/cookie_policy.php)\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\nBack to Top\n\n",
"url": "https://jobs.jobvite.com/cronosgroup/job/ofIyvfwK"
},
"reason": "This is a job posting on Cronos Group's jobvite page, providing direct and official information about the company's hiring activities.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Job posting at Cronos Group",
"url": "https://jobs.jobvite.com/cronosgroup/job/ofIyvfwK"
},
{
"content": {
"metadata": {
"ext_id": "23decd86-4d29-4d4c-b772-a497e76c45b3",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://quantisnow.com/insight/cronos-unveils-new-spinach%C2%AE-12g-vapes-and-sourz-by-spinach%C2%AE-gummies-enhanced-with-rare-5995677"
},
"page_content": "\n\n# Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids\n\n4/22/25 8:00:00 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n[ **Get the next $ CRON alert in real time by email**\n](https://app.quantisnow.com/home)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.'s (NASDAQ: [\nCRON ](/ticker/CRON#NASDAQ) ) (TSX: [ CRON ](/ticker/CRON#TSX) ) (\"Cronos\" or\nthe \"Company\") best-selling cannabis brand, Spinach\u00ae, is thrilled to introduce\nthree all-new 1.2g vape products, each expertly crafted with premium THC and\nenhanced with rare cannabinoids for a uniquely elevated experience. Along with\nthese innovative vape offerings, Cronos is also unveiling new SOURZ by\nSpinach\u00ae Fully Blasted flavors, infused with rare cannabinoids.\n\nThe new lineup includes three new 1.2 gram vapes in the following formats:\n\n * [ **Mango Kiwi Haze CBC** ](https://spinachcannabis.com/strains/mango-kiwi/?sp=2) (Sativa): A refreshing, uplifting blend with a 1:10 CBC-to-THC ratio. \n * [ **Peach Passionfruit Kush CBN** ](https://spinachcannabis.com/strains/peach-passionfruit/?sp=2) (Indica): A dreamy, restful experience with a 1:10 CBN-to-THC ratio. \n * [ **Strawberry Watermelon OG CBG** ](https://spinachcannabis.com/strains/strawberry-watermelon-cbg/?sp=2) (Hybrid): A blissful, relaxed high with a 1:10 CBG-to-THC ratio. \n \n\nDesigned for consumers who prioritize both potency and added value, these\nvapes deliver 1,000mg of THC without compromising on the unique benefits of\nrare cannabinoids. Each product features winterized, distilled cannabis\nextract for purity, combined with terpene-rich flavors inspired by renowned\ncultivars. All Spinach\u00ae vapes are crafted with ceramic heaters, stainless\nsteel components, and food-grade materials to ensure quality and a smooth\nexperience.\n\nIn addition to the Spinach\u00ae vape launch, Cronos is expanding its best-selling\nedible line, SOURZ by Spinach\u00ae, with the new Fully Blasted lineup with each\npackage containing one 10mg THC gummy in bold, fruit-forward flavors:\n\n * [ **Mango Lime** ](https://spinachcannabis.com/forms/edibles/mango-lime/) : Tropical mango and tangy lime flavors with 10mg CBC and 10mg THC per gummy. \n * [ **Peach Passionfruit** : ](https://spinachcannabis.com/strains/peach-passionfruit/?sp=4) Peach and exotic passionfruit flavors with a balanced ratio of 10mg CBN and 10mg THC per gummy. \n * [ **Strawberry Watermelon** ](https://spinachcannabis.com/strains/strawberry-watermelon-cbg/?sp=4) : Strawberry and refreshing watermelon flavors with 10mg CBG and 10mg THC per gummy. \n \n\n\"We are thrilled to expand our Spinach\u00ae 1.2g vape and SOURZ by Spinach\u00ae Fully\nBlasted lineups with these innovative products that combine THC potency and\nthe added benefits of rare cannabinoids. This new lineup will deliver what so\nmany consumers are looking for: mouthwatering flavors, rare cannabinoid\nenhancers, and THC,\" said Mike Gorenstein, Chairman, President, and CEO of\nCronos Group. \"Cronos is committed to delivering exceptional cannabis\nexperiences that meet evolving consumer preferences. Our goal is to\ncontinually innovate and provide our adult consumers with high-quality,\nenjoyable cannabis experiences. These new flavors and formulations reflect our\ndedication to quality, innovation, and giving consumers more reasons to choose\nSpinach\u00ae.\" \n \nThe launch is backed by the brand's in-store trade marketing, with dedicated\nbudtender education, digital placements, and enhanced point-of-purchase\nmaterials. For more information and availability, please visit: [\nspinachcannabis.com ](https://spinachcannabis.com/) .\n\n**About Cronos Group Inc.** \n \nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos' diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit:\nthecronosgroup.com.\n\n**Forward-looking Statements** \n \nThis press release may contain information that may constitute \"forward-\nlooking information\" or \"forward-looking statements\" within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \"Forward-looking Statements\"). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \"may\", \"will\", \"expect\", \"plan\",\n\"anticipate\", \"intend\", \"potential\", \"estimate\", \"believe\" or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about product launches and innovations and the\nconsumer experience with respect thereto; and the Company's intention to build\nan international iconic brand portfolio and develop disruptive intellectual\nproperty by advancing cannabis research, technology and product development.\nForward-looking Statements are necessarily based upon a number of estimates\nand assumptions that, while considered reasonable by management, are\ninherently subject to significant business, economic and competitive risks.\nFinancial results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company's Annual Report on Form\n10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and\nEDGAR and can be accessed at [ www.sedarplus.ca ](http://www.sedarplus.ca\n\"www.sedarplus.ca\") and [ www.sec.gov/edgar ](http://www.sec.gov/edgar\n\"www.sec.gov/edgar\") , respectively. Any Forward-looking Statement included in\nthis press release is made as of the date of this press release and, except as\nrequired by law, Cronos disclaims any obligation to update or revise any\nForward-looking Statement. Readers are cautioned not to put undue reliance on\nany Forward-looking Statement.\n\n**Media Relations Contact:** \nEmily Whalen \n[ [email protected] ](/cdn-cgi/l/email-protection)\n\n**Investor Relations Contact:** \nHarrison Aaron \n[ [email protected] ](/cdn-cgi/l/email-protection)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\n[ **Get the next $ CRON alert in real time by email**\n](https://app.quantisnow.com/home)\n\n### Chat with this insight\n\nSave time and jump to the most important pieces.\n\n## Recent Analyst Ratings for [ $CRON ](/company/CRON)\n\nDate | Price Target | Rating | Analyst \n---|---|---|--- \n11/2/2022 | $3.00 | Mkt Perform | Bernstein \n7/28/2022 | | Hold \u2192 Buy | Canaccord Genuity \n5/11/2022 | | Neutral \u2192 Sector Outperform | CIBC \n3/22/2022 | | Underweight \u2192 Equal Weight | Barclays \n3/7/2022 | $4.00 \u2192 $3.00 | Neutral | Piper Sandler \n2/22/2022 | $7.00 \u2192 $4.25 | Sell | Canaccord Genuity \n2/22/2022 | $7.00 \u2192 $4.00 | Neutral | Piper Sandler \n1/27/2022 | $5.54 \u2192 $3.24 | Underperform \u2192 Hold | Jefferies \n \n[ More analyst ratings ](/analyst-ratings)\n\n## [ $CRON ](/company/CRON) Leadership Updates\n\n### Live Leadership Updates\n\n[ See more ](https://app.quantisnow.com/news/leadership-updates)\n\n * ### [ Cronos Appoints Anna Shlimak as Chief Financial Officer ](/insight/cronos-appoints-anna-shlimak-as-chief-financial-officer-5951532)\n\nTORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\"), an innovative global cannabinoid\ncompany, today announced the appointment of Anna Shlimak as Chief Financial\nOfficer, effective today. Ms. Shlimak, who previously served as Cronos' Chief\nStrategy Officer, will succeed James Holm who is stepping down to pursue other\nopportunities and will remain with the Company through April 18, 2025 to\nensure a seamless transition. Ms. Shlimak has been an integral part of Cronos'\nleadership team for the last seven years, playing a key role in shaping the\nCompany's strategy, operational efficiencies, and engagement with the\nfinancial and\n\n3/19/25 7:30:00 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group Inc. Announces Results of Reconvened 2024 Annual Meeting of Shareholders ](/insight/cronos-group-inc-announces-results-of-reconvened-2024-annual-meeting-of-shareholders-5620246)\n\nTORONTO, July 22, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") announces that at its Annual Meeting of\nShareholders (the \"Meeting\") reconvened July 19, 2024, approximately 98.6% of\nshareholders voting in person or by proxy approved the appointment of Davidson\n& Company LLP as the Company's independent auditor for fiscal year 2024 and\nauthorized the Board of Directors of the Company to fix the independent\nauditor's remuneration. For complete results on all matters voted on at the\nMeeting, please see the Report of Voting Results filed on the Company's SEDAR+\nprofile at www.sedarplus.com and the Company's Form 8-K filed on EDGAR at\nwww.sec.g\n\n7/22/24 4:15:00 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group Inc. Announces Results of 2024 Annual Meeting of Shareholders ](/insight/cronos-group-inc-announces-results-of-2024-annual-meeting-of-shareholders-5571330)\n\nTORONTO, June 21, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") announces that at its Annual Meeting of\nShareholders held yesterday, June 20, 2024 (the \"Meeting\"), shareholders\nholding a total of 274,097,252 common shares of the Company voted in person or\nby proxy, representing 71.75% of the total number of common shares of the\nCompany outstanding. Each of the directors listed as a nominee in the\nCompany's definitive proxy statement dated April 26, 2024 was elected as a\ndirector of the Company, with each director receiving in excess of 93.4% of\nthe votes cast in favor of his or her election. The detailed results of the\nvote for the electio\n\n6/21/24 4:30:00 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n## [ $CRON ](/company/CRON) Insider Trading\n\n### Insider transactions reveal critical sentiment about the company from key\nstakeholders. See them live in this feed.\n\n[ See more ](https://app.quantisnow.com/news/insider-trading)\n\n * ### [ Officer Gorenstein Michael Ryan converted options into 3,000,000 shares and covered exercise/tax liability with 1,180,500 shares, increasing direct ownership by 17% to 12,508,772 units (SEC Form 4) ](/insight/officer-gorenstein-michael-ryan-converted-options-into-3000000-shares-and-covered-exercisetax-liability-with-5959780)\n\n4 - Cronos Group Inc. (0001656472) (Issuer)\n\n3/25/25 5:07:06 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ SEC Form 4 filed by Officer Shlimak Anna ](/insight/sec-form-4-filed-by-officer-shlimak-anna-5956327)\n\n4 - Cronos Group Inc. (0001656472) (Issuer)\n\n3/21/25 5:06:37 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Officer Weigensberg Arye converted options into 24,236 shares, increasing direct ownership by 26% to 117,337 units (SEC Form 4) ](/insight/officer-weigensberg-arye-converted-options-into-24236-shares-increasing-direct-ownership-by-26-to-5950594)\n\n4 - Cronos Group Inc. (0001656472) (Issuer)\n\n3/18/25 5:27:00 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n## [ $CRON ](/company/CRON) SEC Filings\n\n###\n\n[ See more ](https://app.quantisnow.com/news/sec)\n\n * ### [ Cronos Group Inc. filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits ](/insight/cronos-group-inc-filed-sec-form-8k-leadership-update-financial-statements-and-exhibits-5951546)\n\n8-K - Cronos Group Inc. (0001656472) (Filer)\n\n3/19/25 7:36:08 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ SEC Form 10-K filed by Cronos Group Inc. ](/insight/sec-form-10k-filed-by-cronos-group-inc-5913349)\n\n10-K - Cronos Group Inc. (0001656472) (Filer)\n\n2/27/25 7:33:15 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group Inc. filed SEC Form 8-K: Results of Operations and Financial Condition, Financial Statements and Exhibits ](/insight/cronos-group-inc-filed-sec-form-8k-results-of-operations-and-financial-condition-financial-5913337)\n\n8-K - Cronos Group Inc. (0001656472) (Filer)\n\n2/27/25 7:31:13 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n## [ $CRON ](/company/CRON) Press Releases\n\n### Fastest customizable press release news feed in the world\n\n[ See more ](https://app.quantisnow.com/news/prs)\n\n * ### [ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May 8, 2025 ](/insight/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-5999659)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") will hold its 2025 first quarter\nearnings conference call on Thursday, May 8, 2025 at 8:30 a.m. ET. Cronos'\nsenior management team will discuss the Company's financial results and will\nbe available for questions from the investment community after prepared\nremarks. To attend the conference call or webcast, participants should\nregister online at https://ir.thecronosgroup.com/events-presentations. To\navoid delays, we encourage participants to dial into the conference call\nfifteen minutes ahead of the scheduled start time. The webcast of the call\nwill be archived for replay on t\n\n4/24/25 8:00:00 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies Enhanced with Rare Cannabinoids ](/insight/cronos-unveils-new-spinach\u00ae-12g-vapes-and-sourz-by-spinach\u00ae-gummies-enhanced-with-rare-5995677)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.'s (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new 1.2g vape products, each expertly\ncrafted with premium THC and enhanced with rare cannabinoids for a uniquely\nelevated experience. Along with these innovative vape offerings, Cronos is\nalso unveiling new SOURZ by Spinach\u00ae Fully Blasted flavors, infused with rare\ncannabinoids. The new lineup includes three new 1.2 gram vapes in the\nfollowing formats: Mango Kiwi Haze CBC (Sativa): A refreshing, uplifting blend\nwith a 1:10 CBC-to-THC ratio.Peach Passionfruit Kush CBN (Indica): A dreamy,\nrestful expe\n\n4/22/25 8:00:00 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Appoints Anna Shlimak as Chief Financial Officer ](/insight/cronos-appoints-anna-shlimak-as-chief-financial-officer-5951532)\n\nTORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\"), an innovative global cannabinoid\ncompany, today announced the appointment of Anna Shlimak as Chief Financial\nOfficer, effective today. Ms. Shlimak, who previously served as Cronos' Chief\nStrategy Officer, will succeed James Holm who is stepping down to pursue other\nopportunities and will remain with the Company through April 18, 2025 to\nensure a seamless transition. Ms. Shlimak has been an integral part of Cronos'\nleadership team for the last seven years, playing a key role in shaping the\nCompany's strategy, operational efficiencies, and engagement with the\nfinancial and\n\n3/19/25 7:30:00 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n## [ $CRON ](/company/CRON) Financials\n\n### Live finance-specific insights\n\n[ See more ](https://app.quantisnow.com/news/financials)\n\n * ### [ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May 8, 2025 ](/insight/cronos-group-inc-to-hold-2025-first-quarter-earnings-conference-call-on-may-8-5999659)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") will hold its 2025 first quarter\nearnings conference call on Thursday, May 8, 2025 at 8:30 a.m. ET. Cronos'\nsenior management team will discuss the Company's financial results and will\nbe available for questions from the investment community after prepared\nremarks. To attend the conference call or webcast, participants should\nregister online at https://ir.thecronosgroup.com/events-presentations. To\navoid delays, we encourage participants to dial into the conference call\nfifteen minutes ahead of the scheduled start time. The webcast of the call\nwill be archived for replay on t\n\n4/24/25 8:00:00 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group Inc. to Hold 2024 Fourth Quarter and Full-Year Earnings Conference Call on February 27, 2025 ](/insight/cronos-group-inc-to-hold-2024-fourth-quarter-and-fullyear-earnings-conference-call-on-5905865)\n\nTORONTO, Feb. 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") will hold its 2024 fourth-quarter and\nfull-year earnings conference call on Thursday, February 27, 2025 at 8:30 a.m.\nET. Cronos' senior management team will discuss the Company's financial\nresults and will be available for questions from the investment community\nafter prepared remarks. To attend the conference call or webcast, participants\nshould register online at https://ir.thecronosgroup.com/events-presentations.\nTo avoid delays, we encourage participants to dial into the conference call\nfifteen minutes ahead of the scheduled start time. The webcast of the call\nwill be arch\n\n2/24/25 4:45:45 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group Inc. to Hold 2024 Third Quarter Earnings Conference Call on November 12, 2024 ](/insight/cronos-group-inc-to-hold-2024-third-quarter-earnings-conference-call-on-november-12-5741802)\n\nTORONTO, Oct. 29, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ:CRON)\n(TSX:CRON) (\"Cronos\" or the \"Company\") will hold its 2024 third quarter\nearnings conference call on Tuesday, November 12, 2024 at 8:30 a.m. ET.\nCronos' senior management team will discuss the Company's financial results\nand will be available for questions from the investment community after\nprepared remarks. To attend the conference call or webcast, participants\nshould register online at https://ir.thecronosgroup.com/events-presentations.\nTo avoid delays, we encourage participants to dial into the conference call\nfifteen minutes ahead of the scheduled start time. The webcast of the call\nwill be archived for replay\n\n10/29/24 4:15:00 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n## [ $CRON ](/company/CRON) Analyst Ratings\n\n### Analyst ratings in real time. Analyst ratings have a very high impact on\nthe underlying stock. See them live in this feed.\n\n[ See more ](https://app.quantisnow.com/news/analyst-ratings)\n\n * ### [ Bernstein initiated coverage on Cronos Group with a new price target ](/insight/bernstein-initiated-coverage-on-cronos-group-with-a-new-price-target-3614242)\n\nBernstein initiated coverage of Cronos Group with a rating of Mkt Perform and\nset a new price target of $3.00\n\n11/2/22 6:32:18 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group upgraded by Canaccord Genuity ](/insight/cronos-group-upgraded-by-canaccord-genuity-3198982)\n\nCanaccord Genuity upgraded Cronos Group from Hold to Buy\n\n7/28/22 9:01:16 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ Cronos Group upgraded by CIBC ](/insight/cronos-group-upgraded-by-cibc-2865945)\n\nCIBC upgraded Cronos Group from Neutral to Sector Outperform\n\n5/11/22 7:33:42 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n## [ $CRON ](/company/CRON) Large Ownership Changes\n\n### This live feed shows all institutional transactions in real time.\n\n[ See more ](https://app.quantisnow.com/news/large-ownership)\n\n * ### [ SEC Form SC 13D/A filed by Cronos Group Inc. (Amendment) ](/insight/sec-form-sc-13da-filed-by-cronos-group-inc-amendment-5434989)\n\nSC 13D/A - Cronos Group Inc. (0001656472) (Subject)\n\n4/25/24 6:39:55 PM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n * ### [ SEC Form SC 13D/A filed by Cronos Group Inc. (Amendment) ](/insight/sec-form-sc-13da-filed-by-cronos-group-inc-amendment-3821017)\n\nSC 13D/A - Cronos Group Inc. (0001656472) (Subject)\n\n12/19/22 8:47:03 AM ET\n\n[ $CRON ](/company/CRON)\n\nMedicinal Chemicals and Botanical Products\n\nHealth Care\n\n",
"url": "https://quantisnow.com/insight/cronos-unveils-new-spinach%C2%AE-12g-vapes-and-sourz-by-spinach%C2%AE-gummies-enhanced-with-rare-5995677"
},
"reason": "This article discusses Cronos Group's new product offerings, providing information directly related to the company's activities.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos unveils new Spinach\u00ae 12g vapes and SOURZ by Spinach\u00ae gummies",
"url": "https://quantisnow.com/insight/cronos-unveils-new-spinach%C2%AE-12g-vapes-and-sourz-by-spinach%C2%AE-gummies-enhanced-with-rare-5995677"
},
{
"content": {
"metadata": {
"ext_id": "e4302f15-f1c9-4084-8247-23f9448eaed1",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newswire.ca/news-releases/cronos-group-inc-announces-15-million-bought-deal-651584723.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\n**/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN CANADA ONLY AND IS NOT\nFOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN\nTHE UNITED STATES / **\n\n_This news release does not constitute an offer to sell or a solicitation of\nan offer to buy any of the securities in the United States . The securities\nhave not been and will not be registered under the United States Securities\nAct of 1933, as amended (the \"U.S. Securities Act\") or any state securities\nlaws and may not be offered or sold within the United States or to U.S.\nPersons unless registered under the U.S. Securities Act and applicable state\nsecurities laws or an exemption from such registration is available. _\n\nTORONTO , Oct. 19, 2017 /CNW/ - Cronos Group Inc. (TSX VENTURE: MJN)\n(\"Cronos\" or the \"Company\") is pleased to announce that it has entered into a\nletter of engagement with PI Financial Corp. (\"PI\") as sole lead underwriter.\nPI has agreed to purchase for re-sale 4,761,905 common shares of the Company\n(the \"Shares\"), on a \"bought deal\" basis pursuant to the filing of a short\nform prospectus, subject to all required regulatory approvals, at a price per\nShare of $3.15 (the \"Offering Price\"), for total gross proceeds of\n$15,000,000.75 (the \"Offering\").\n\nThe Company will grant PI an option to increase the size of the Offering by up\nto 15% of the initial Offering size or 714,285 additional Shares (the \"Over-\nAllotment Option\") unless the Offering size is increased in which case the\nOverallotment Option will be 15% of the increased Offering. The Over-Allotment\nOption may be exercised in whole or in part by written notice to the Company\nat any time up to 30 days following the Closing Date.\n\nThe Company intends to use the net proceeds of the Offering for general\ncorporate purposes, to fund growth and to provide for possible future\nacquisitions.\n\nThe closing date of the Offering is scheduled to be on or about November 14,\n2017 and is subject to certain conditions including, but not limited to, the\nreceipt of all necessary approvals, including the approval of the TSX Venture\nExchange and the applicable securities regulatory authorities.\n\nThe Shares will be offered by way of a short form prospectus to be filed in\nall of the provinces of Canada , pursuant to National Instrument 44-101 -\nShort Form Prospectus Distributions. PI may choose, in its discretion, to sell\nthe Offering in the United States through its U.S. brokerage affiliate to\ninvestors who qualify under U.S. prospectus exemptions, and the Company will\nassist in this regard as reasonably requested. Any Shares sold in the United\nStates will be to investors in reliance upon applicable registration\nexemptions (Rule 144A of the United States Securities Act of 1933, as amended\nand rule 506 of Reg. D).\n\n**About Cronos Group**\n\nCronos Group is a geographically diversified and vertically integrated\ncannabis company that operates two wholly-owned Licensed Producers (\"LPs\")\nregulated within Health Canada's Access to Cannabis for Medical Purposes\nRegulations (the \"ACMPR\") and holds a portfolio of minority investments in\nother Licensed Producers. The Company's flagship LPs, Peace Naturals Project\nInc. ( Ontario ) and Original BC Ltd. ( British Columbia ), are\ncollectively situated on over 125 acres of agricultural, licensed land. Cronos\nGroup is focused on building an international iconic brand portfolio,\nproviding patients with personalized care, and creating value for our\nshareholders.\n\n**Forward-looking statements**\n\nThis news release may contain \"forward-looking information\" and \"forward-\nlooking statements\" within the meaning of applicable Canadian securities\nlegislation. All information contained herein that is not clearly historical\nin nature may constitute forward-looking information. Forward-looking\nstatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management, are inherently subject to\nsignificant business, economic and competitive risks, uncertainties and\ncontingencies that may cause actual financial results, performance or\nachievements to be materially different from the estimated future results,\nperformance or achievements expressed or implied by those forward-looking\nstatements and the forward-looking statements are not guarantees of future\nperformance. Except as required by law, the Company disclaims any obligation\nto update or revise any forward-looking statements. Readers are cautioned not\nto put undue reliance on these forward-looking statements. This news release\ncontains information obtained by the Company from third parties and believes\nsuch information to be accurate but has not independently verified such\ninformation.\n\n_Neither the TSX Venture Exchange nor its Regulation Services Provider (as\nthat term is defined in the policies of the TSX Venture Exchange) accepts\nresponsibility for the adequacy or accuracy of this release._\n\nFor more information, please visit [ www.thecronosgroup.com\n](http://www.thecronosgroup.com/) .\n\nSOURCE Cronos Group Inc.\n\nMichael Krestell, Investor & Media Relations, TEL: 647-274-3655, E-mail: [\n[email protected] ](/cdn-cgi/l/email-protection)\n\n#### Related Links\n\n[ www.thecronosgroup.com ](http://www.thecronosgroup.com \"Link to\nhttp://www.thecronosgroup.com\") \n\n### Modal title\n\n## Organization Profile\n\n### [ Cronos Group Inc. ](/news/cronos-group-inc/)\n\n## Contact Cision\n\n * [ 866-245-2317 ](tel:866-245-2317) from 8 AM - 10 PM ET \n\n * [ Become a Client ](/contact-us/ \"Become a Client\")\n * [ Request a Demo ](/request-a-demo/ \" Request a Demo \")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \" Editorial Bureaus \")\n * [ Partnerships ](/contact-us/partnerships/ \" Partnerships \")\n * [ General Enquiries ](/general-inquiries/ \" General Enquiries \")\n * [ Media ](/contact-us/media/ \" Media\")\n\n[ ](https://www.linkedin.com/company/cisioncanada/ \"LinkedIn\")\n\n## Products\n\n * [ Cision Communications Cloud\u00ae ](https://www.newswire.ca/products/communications-cloud \"Cision Communications Cloud\u00ae\")\n * [ Media Monitoring ](https://www.cision.ca/monitoring-analytics/online/ \"Media Monitoring\")\n * [ Content Distribution ](https://www.newswire.ca/products/content-distribution \"Content Distribution\")\n * [ Multimedia Distribution ](https://www.newswire.ca/products/multimedia-distribution-options \"Multimedia Distribution\")\n * [ Measurement & Analytics ](https://www.newswire.ca/products/Media-Measurement--Analytics \"Measurement & Analytics\")\n * [ Investor Relations ](https://www.newswire.ca/products/investor-relations \"Investor Relations\")\n\n## About\n\n * [ About Cision Canada ](http://cnw.en.mediaroom.com/aboutus/ \"About Cision Canada\")\n * [ About Cision ](http://www.cision.ca/ \"About Cision\")\n * [ Media Partners ](https://www.newswire.ca/contact-us/media-partners.html \"Media Partners\")\n * [ Careers ](https://www.cision.ca/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.ca/about/accessibility/ \"Accessibility Statement\")\n * \n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/en/ \"Canada\")\n * [ Czech ](https://www.prnewswire.com/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](https://www.prnewswire.com/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](https://www.prnewswire.com/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](https://www.prnewswire.com/fr/communiques-de-presse/ \"France\")\n * [ Germany ](https://www.prnewswire.com/de/pressemitteilungen/ \"Germany\")\n * [ India ](https://www.prnewswire.com/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](https://www.prnewswire.com/il/news-releases/ \"Israel\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](https://www.prnewswire.com/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](https://www.prnewswire.com/nl/persberichten/ \"Netherlands\")\n * [ Norway ](https://www.prnewswire.com/no/pressemeldinger/ \"Norway\")\n * [ Poland ](https://www.prnewswire.com/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](https://www.prnewswire.com/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](https://www.prnewswire.com/ru/press-releases/ \"Russia\")\n * [ Slovakia ](https://www.prnewswire.com/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](https://www.prnewswire.com/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](https://www.prnewswire.com/sv/pressmeddelanden/ \"Sweden\")\n * [ United States ](https://www.prnewswire.com/ \"United States\")\n * [ Vietnam ](https://www.prnewswire.com/vn/ \"Vietnam\")\n\n## My Services\n\n * [ All News Releases ](/news-releases/news-releases-list/ \"All News Releases\")\n * [ Online Member Centre \n](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre<br />\n\n\")\n\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud\u00ae ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\u00ae\")\n * [ my CNW \n](/mycnw/login/ \"my CNW<br />\n\n\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact Cision ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](http://cnw.en.mediaroom.com/aboutus/)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Centre ](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre\")\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\")\n * [ my CNW ](/mycnw/login/ \"my CNW\")\n\n[ __ 877-269-7890 \nfrom 8 AM - 10 PM ET ](tel:877-269-7890 \"Contact Us\")\n\n * [ Terms of Use ](http://cnw.en.mediaroom.com/privacy-terms-of-use \"Terms of Use\")\n * [ Information Security Policy ](/cision-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\nCopyright \u00a9 2025 CNW Group Ltd. All Rights Reserved. A Cision company.\n\n",
"url": "https://www.newswire.ca/news-releases/cronos-group-inc-announces-15-million-bought-deal-651584723.html"
},
"reason": "This is a news release from Newswire.ca regarding Cronos Group's bought deal, providing direct and verifiable information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Inc. Announces $15 Million Bought Deal",
"url": "https://www.newswire.ca/news-releases/cronos-group-inc-announces-15-million-bought-deal-651584723.html"
},
{
"content": {
"metadata": {
"ext_id": "90df698e-d458-4bdd-bbe3-0ca587d47876",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://contracts.justia.com/companies/cronos-group-inc-10036/contract/123083/"
},
"page_content": "# Form of Restricted Share Unit Award Agreement (Israel) to Cronos Group Inc.\n2020 Omnibus Equity Incentive Plan\n\n**Contract Categories:** [ Human Resources\n](https://contracts.justia.com/categories/human-resources/) \u203a [ Bonus &\nIncentive Agreements ](https://contracts.justia.com/categories/human-\nresources/subcategories/bonus-and-incentive-agreements/)\n\nEX-10.3 5 a103rsuawardagreementi.htm EX-10.3 Document\n\n \n\n**Exhibit 10.3**\n\n**FORM OF**\n\n**CRONOS GROUP INC.**\n\n**RESTRICTED SHARE UNIT AWARD AGREEMENT**\n\n(Applicable for Israeli Grantees)\n\nThis Restricted Share Unit Award Agreement (hereinafter referred to as the \u201c\n**Agreement** \u201d) is made and entered into this ________ day of _______, 20__\n(the \u201c **Grant Date** \u201d) by and between Cronos Group Inc. (hereinafter\nreferred to as \u201c **Cronos** \u201d) and **[\u25cf]** (hereinafter referred to as the \u201c\n**Grantee** \u201d), pursuant to the **Cronos Group Inc. 2020 Omnibus Equity\nIncentive Plan** (the \u201c **Plan** \u201d) and the **Cronos Group Inc. Israeli Sub\nPlan** (the \u201c **Sub-Plan** \u201d and, together with the Cronos Group Inc. 2020\nOmnibus Equity Incentive Plan, the \u201c **Plans** \u201d). All terms and provisions of\nthe Plan are hereby incorporated into and shall govern the Agreement except\nwhere general provisions of the Plan are superseded by particular provisions\nof the Agreement. All capitalized terms used in the Agreement shall have the\nsame meaning given the terms in the Sub-Plan or, if not defined therein, the\nPlan. To the extent the Grantee is party to an employment agreement with the\nCompany and any terms set forth herein conflict or are otherwise inconsistent\nwith any terms or conditions set forth in Grantee\u2019s employment agreement with\nthe Company, the terms and conditions set forth in such employment agreement\nshall govern. In the event of a conflict or inconsistency between the terms of\nthis Agreement and the terms of either the Plan or the Sub-Plan, the terms of\nthis Agreement shall control.\n\n1\\. Grant of Restricted Share Units . Cronos hereby grants the Grantee\n**[\u25cf]** Restricted Share Units (hereinafter referred to as the \u201c **RSUs** \u201d or\nthe \u201c **Award** \u201d), which are subject to terms and conditions set forth below.\n\n2\\. Tax Track of RSUs . The Award is granted as Capital Gain Award (CGA)\nunder Section 102.\n\n3\\. Expiration Date . **[** _________ **]**\n\n4\\. Vesting and Settlement of RSUs . Subject to the terms and conditions of\nthis Agreement and the Plans:\n\n(a) the Award shall vest on **[** over three (3) years, with one-third (1/3\nrd ) of the Award vesting on the first anniversary of the Grant Date, one-\nthird (1/3 rd ) of the Award vesting on the second anniversary of the Grant\nDate, and the remaining one-third (1/3 rd ) of the Award vesting on the\nthird anniversary of the Grant Date **]** (each, a \u201c **Vesting Date** \u201d),\nprovided, that the Grantee remains employed at the Company through such\napplicable Vesting Date;\n\n(b) upon each Vesting Date, the vested portion of the Award shall promptly\n(but not later than sixty (60) calendar days thereafter) be paid out in Common\nShares, provided that Cronos shall have no obligation to issue Shares pursuant\nto the Agreement unless and until the Grantee has satisfied any applicable tax\nwithholding obligations pursuant to\n\n1\n\n \n\n* * *\n\n \n\nSection 10 below and such issuance otherwise complies with all applicable law.\nCronos shall issue and register the Common Shares in the name of the Trustee\nfor the benefit of the Grantee; and\n\n(c) where the Committee settles the Grantee\u2019s vested Awards in Common Shares,\nsettlement shall be made by the issuance and delivery of one Common Share for\neach RSU.\n\n5\\. Termination of Employment . In the event that prior to the final Vesting\nDate, the Grantee\u2019s Employment terminates because of death, the full Award\nshall vest and promptly (but not later than sixty (60) calendar days\nthereafter) be settled in the same manner as provided for in Section 4. In the\nevent that prior to the final Vesting Date, the Grantee\u2019s Employment\nterminates because of Disability, the Award shall remain outstanding and\ncontinue to vest and be settled in the same manner as provided for in Section\n4. **[** In the event that prior to the final Vesting Date, the Grantee\u2019s\nEmployment terminates without Just Cause or for Good Reason (as defined in\nGrantee\u2019s employment agreement with the Company) on or within one (1) year\nafter a Change of Control, the Award will become fully vested and settled in\naccordance with Section 3.6 of the Plan. **]** Except as set forth in [Section\n3.6 of the Plan in connection with a Change of Control], in the event that\nprior to the final Vesting Date, the Grantee\u2019s Employment terminates for any\nreason other than death or Disability, then the unvested portion of the Award\nshall be forfeited for no consideration. Notwithstanding anything to the\ncontrary, to the extent the Grantee is party to an employment agreement with\nthe Company and any payments or benefits in connection with an applicable\ntermination of employment are contingent on the delivery of an effective\nrelease and waiver of claims, any accelerated vesting of the Award upon such\ntermination of employment shall also be contingent on such release and waiver\nof claims.\n\n6\\. Employment . Nothing in the Agreement shall interfere with or limit in\nany way the right of the Company to terminate the Grantee\u2019s employment nor\nconfer upon any Grantee any right to continue in the employ of the Company.\nFor greater certainty, a Grantee\u2019s termination of Employment will include both\nvoluntary and involuntary terminations, and the involuntary termination of a\nGrantee\u2019s Employment shall occur on the date that the Grantee ceases\nperforming services for the Company on a permanent basis, whether such\ntermination is lawful or otherwise, without regard to any required period of\nnotice, pay in lieu of notice, severance pay or similar compensation or\nbenefits (and without regard for any claim for damages in respect thereof),\nexcept as expressly required by applicable employment or labour standards\nlegislation.\n\n7\\. Non-Transferable . The rights or interests of the Grantee under this\nAgreement, including, without limitation, the RSUs, shall not be assignable or\ntransferable, otherwise than in the case of death of the Grantee as set out in\nthe Plan, and such rights or interests shall not be encumbered by any means.\n\n2\n\n \n\n* * *\n\n \n\n8\\. Not Shares . The RSUs are not Common Shares, and the RSUs shall not\nentitle the Grantee to exercise voting rights or any other rights attaching to\nthe ownership of Common Shares, including, without limitation, rights on\nliquidation.\n\n9\\. Section 102 Awards .\n\nWithout derogating from the generality of the foregoing, to the extent and\nwith respect to any RSUs that are granted as a Capital Gain Award (CGA), and\nas required by Section 102, the Grantee acknowledges, undertakes and confirms\nin writing the following:\n\n(a) the Grantee shall comply with all terms and conditions set forth in\nSection 102 with regard to Capital Gain Award (CGA) and with the applicable\nrules and regulations promulgated thereunder, as amended from time to time;\n\n(b) the Grantee is familiar with, and understand the provisions of, Section\n102 in general, and the tax arrangement regarding the Capital Gain Award (CGA)\nin particular, and its tax consequences (including the marginal tax component\nthat may apply pursuant to Section 102(b)(3) of the Ordinance); the Grantee\nagrees that the RSUs and Common Shares that may be issued upon settlement\nthereof (or otherwise in relation thereto), will be held by a Trustee for at\nleast the duration of the Holding Period, as defined in Section 102. The\nGrantee understands that any release of such RSUs or Common Shares from the\ntrust, or any sale of the Common Share prior to the termination of the Holding\nPeriod, will result in taxation at marginal tax rate, in addition to\ndeductions of appropriate social security, health tax contributions or other\ncompulsory payments; and\n\n(c) the Grantee agrees to the Trust Agreement signed between Cronos, the\nrelevant Affiliate and the Trustee appointed pursuant to Section 102 and shall\nsign all documents requested by Cronos, the relevant Affiliate or the Trustee,\nin accordance with and under the Trust Agreement.\n\n10\\. Withholding Taxes . The Grantee acknowledges and agrees that Cronos\nand/or an Affiliate and/or the Trustee has the right to deduct from any\npayments due to the Grantee any taxes required by law to be withheld with\nrespect to the Award and in accordance with the Plans and Applicable Law.\nCronos and/or the Trustee shall not be required to release any Common Share\ncertificate to the Grantee until all required payments have been fully made.\n\n11\\. Trust . The RSUs and any Common Shares issued upon conversion thereof\nshall be held or controlled by the Trustee, as required under Section 102 in\naccordance with the provisions of Section 102, the Plans and this Agreement.\n\n12\\. Tax Matters and Consultation.\n\n(a) The Grantee is advised to consult with a tax advisor with respect to the\ntax consequences of receiving or exercising RSUs hereunder. Cronos or the\nrelevant\n\n3\n\n \n\n* * *\n\n \n\nAffiliate does not assume any responsibility to advise the Grantee on such\nmatters, which shall remain solely the responsibility of the Grantee.\n\n(b) Notwithstanding anything to the contrary herein or in the Plans and\nnotwithstanding anything to the contrary, Cronos or an Affiliate shall be\nunder no duty to ensure, and no representation or commitment is made, that the\nRSU qualifies or will qualify under any particular tax treatment (such as\nSection 102, CGA, OIA or any other treatment), nor shall Cronos or an\nAffiliate be required to take any action for the qualification of any RSU\nunder such tax treatment. If the RSUs do not qualify under any particular tax\ntreatment it could result in adverse tax consequences to the Grantee.\n\n(c) By signing below, the Grantee agrees that Cronos, its Affiliates and\ntheir respective employees, directors, officers and shareholders shall not be\nliable for any tax, penalty, interest or cost incurred by the Grantee as a\nresult of such determination, nor will any of them have any liability of any\nkind or nature in the event that, for any reason whatsoever, an RSU does not\nqualify for any particular tax treatment.\n\n13\\. Governing Law . This Agreement shall be construed in accordance with\nand governed by the laws of the State of Israel.\n\n14\\. Binding Effect . This Agreement shall be binding upon and inure to the\nbenefit of any successors to the Company and all persons lawfully claiming\nunder Grantee. By accepting the Award on the terms set forth herein, the\nGrantee acknowledges and agrees to the matters and conditions set forth herein\nand in the Plan. The Grantee hereby further confirms and acknowledges receipt\nof a copy of the Plan.\n\n \n\n_[Remainder of page intentionally left blank]_\n\n \n\n4\n\n \n\n* * *\n\n \n\nIN WITNESS WHEREOF, this Agreement is executed by Cronos and by Grantee as of\nthis _____ day of _________, 20__.\n\n \n\n**CRONOS GROUP INC.**\n\n \n\n__\n\nBy: **[\u25cf]**\n\n \n \n \n \n\nGRANTEE\n\n \n \n \n \n\n__\n\n(Name)\n\n5\n\n \n\nJustia Legal Resources\n\n[ Find a Lawyer ](https://www.justia.com/lawyers)\n\n * [ Bankruptcy Lawyers ](https://www.justia.com/lawyers/bankruptcy)\n * [ Business Lawyers ](https://www.justia.com/lawyers/business-law)\n * [ Criminal Lawyers ](https://www.justia.com/lawyers/criminal-law)\n * [ Employment Lawyers ](https://www.justia.com/lawyers/employment-law)\n * [ Estate Planning Lawyers ](https://www.justia.com/lawyers/estate-planning)\n * [ Family Lawyers ](https://www.justia.com/lawyers/family-law)\n * [ Personal Injury Lawyers ](https://www.justia.com/lawyers/personal-injury)\n * [ More... ](https://www.justia.com/lawyers)\n\n[ Individuals ](https://www.justia.com/individuals/)\n\n * [ Bankruptcy ](https://www.justia.com/bankruptcy/)\n * [ Criminal ](https://www.justia.com/criminal/)\n * [ Divorce ](https://www.justia.com/family/divorce/)\n * [ DUI ](https://www.justia.com/criminal/drunk-driving-dui-dwi/)\n * [ Estate Planning ](https://www.justia.com/estate-planning/)\n * [ Family Law ](https://www.justia.com/family/)\n * [ Personal Injury ](https://www.justia.com/injury/)\n * [ More... ](https://www.justia.com/individuals/)\n\n[ Business ](https://www.justia.com/business/)\n\n * [ Business Formation ](https://www.justia.com/business-operations/starting-your-own-business/)\n * [ Business Operations ](https://www.justia.com/business-operations/)\n * [ Employment ](https://www.justia.com/employment/)\n * [ Intellectual Property ](https://www.justia.com/intellectual-property/)\n * [ International Trade ](https://www.justia.com/international-law/international-trade-law/)\n * [ Real Estate ](https://www.justia.com/business-operations/commercial-real-estate-the-law/)\n * [ Tax Law ](https://www.justia.com/tax/)\n * [ More... ](https://www.justia.com/business/)\n\n[ Law Schools ](https://www.justia.com/law-schools/)\n\n * [ Dictionary ](https://dictionary.justia.com/)\n * [ Admissions ](https://www.justia.com/law-students/)\n * [ Financial Aid ](https://www.justia.com/law-students/)\n * [ Course Outlines ](https://www.justia.com/law-schools/outlines/)\n * [ Law Journals ](https://www.justia.com/law-schools/)\n * [ Blogs ](https://blawgsearch.justia.com/blogs/categories/law-student)\n * [ Employment ](https://www.justia.jobs/jobs/summer-associate-legal-internship/)\n * [ More... ](https://www.justia.com/law-schools/)\n\n[ U.S. Federal Law ](https://law.justia.com/us/)\n\n * [ U.S. Constitution ](https://law.justia.com/constitution/us/)\n * [ U.S. Code ](https://law.justia.com/codes/us)\n * [ Regulations ](https://regulations.justia.com/)\n * [ Supreme Court ](https://supreme.justia.com/)\n * [ Circuit Courts ](https://law.justia.com/cases/federal/appellate-courts/)\n * [ District Courts ](https://law.justia.com/cases/federal/district-courts/)\n * [ Dockets & Filings ](https://dockets.justia.com/)\n * [ More... ](https://law.justia.com/us/)\n\n[ U.S. State Law ](https://law.justia.com/us-states/)\n\n * [ State Constitutions ](https://law.justia.com/us-states/)\n * [ State Codes ](https://law.justia.com/codes/)\n * [ State Case Law ](https://law.justia.com/cases/)\n * [ California ](https://law.justia.com/california/)\n * [ Florida ](https://law.justia.com/florida/)\n * [ New York ](https://law.justia.com/new-york/)\n * [ Texas ](https://law.justia.com/texas/)\n * [ More... ](https://law.justia.com/us-states/)\n\n[ Other Databases ](https://www.justia.com/)\n\n * [ Legal Jobs ](https://www.justia.jobs/)\n * [ Legal Blogs ](https://blawgsearch.justia.com/)\n * [ Business Forms ](https://contracts.justia.com/)\n * [ Product Recalls ](https://recalls.justia.com/)\n * [ Patents ](https://patents.justia.com/)\n * [ Trademarks ](https://trademarks.justia.com/)\n * [ Countries ](https://www.justia.com/countries/)\n * [ More... ](https://www.justia.com/)\n\n[ Marketing Solutions ](https://www.justia.com/marketing/)\n\n * [ Justia Connect Membership ](https://www.justia.com/marketing/connect/)\n * [ Justia Lawyer Directory ](https://www.justia.com/marketing/lawyer-directory/)\n * [ Justia Premium Placements ](https://www.justia.com/marketing/lawyer-directory/#premium-placements)\n * [ Justia Elevate (SEO, Websites) ](https://www.justia.com/marketing/elevate/)\n * [ Justia Amplify (PPC, GBP) ](https://www.justia.com/marketing/amplify/)\n * [ Justia Onward Blog ](https://onward.justia.com/)\n * [ Testimonials ](https://www.justia.com/marketing/testimonials/)\n * [ More... ](https://www.justia.com/marketing/)\n\n[ ](https://www.facebook.com/justia \"Facebook\") [\n](https://twitter.com/justiacom \"Twitter\") [\n](https://www.linkedin.com/company/justia \"LinkedIn\") [\n](https://www.youtube.com/justia \"YouTube\") [\n](https://lawyers.justia.com/organization/justia-inc-16302 \"Justia Lawyer\nDirectory\") \u00a9 2025 [ Justia ](https://www.justia.com/) [ Justia Connect\n](https://connect.justia.com/) [ Legal Portal ](https://www.justia.com/) [\nCompany ](https://company.justia.com/) [ Help ](https://support.justia.com/) [\nTerms of Service ](https://www.justia.com/terms-of-service/) [ Privacy Policy\n](https://www.justia.com/privacy-policy/) [ Marketing Solutions\n](https://www.justia.com/marketing/)\n\n",
"url": "https://contracts.justia.com/companies/cronos-group-inc-10036/contract/123083/"
},
"reason": "This is a contract involving Cronos Group Inc., providing direct and verifiable legal information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Contract involving Cronos Group Inc.",
"url": "https://contracts.justia.com/companies/cronos-group-inc-10036/contract/123083/"
},
{
"content": {
"metadata": {
"ext_id": "6fc54bbd-1508-47f7-90f2-2f3e2ea951a8",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newcannabisventures.com/altria-buys-45-of-cronos-group-for-c2-4-billion-with-option-to-take-controlling-stake/"
},
"page_content": "__\n\n \n\nDecember 7, 2018 at 7:52 am\n\nPublished by NCV Newswire\n\n[\n](https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Faltria-\nbuys-45-of-cronos-group-for-c2-4-billion-with-option-to-take-controlling-\nstake%2F&linkname=Altria%20Buys%2045%25%20of%20Cronos%20Group%20for%20C%242.4%20billion%20with%20Option%20to%20Take%20Controlling%20Stake\n\"Facebook\") [\n](https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Faltria-\nbuys-45-of-cronos-group-for-c2-4-billion-with-option-to-take-controlling-\nstake%2F&linkname=Altria%20Buys%2045%25%20of%20Cronos%20Group%20for%20C%242.4%20billion%20with%20Option%20to%20Take%20Controlling%20Stake\n\"Twitter\") [\n](https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Faltria-\nbuys-45-of-cronos-group-for-c2-4-billion-with-option-to-take-controlling-\nstake%2F&linkname=Altria%20Buys%2045%25%20of%20Cronos%20Group%20for%20C%242.4%20billion%20with%20Option%20to%20Take%20Controlling%20Stake\n\"LinkedIn\")\n\n##### Cronos Group Inc. Announces C$2.4 Billion Strategic Investment from\nAltria Group, Inc.\n\nTORONTO, Dec. 7, 2018 /PRNewswire/ \u2013 [ Cronos Group Inc.\n](https://www.newcannabisventures.com/tag/cronos-group/) (NASDAQ: CRON) (TSX:\nCRON) (\u201cCronos Group\u201d or the \u201cCompany\u201d) today announced that it has entered\ninto a subscription agreement (the \u201cSubscription Agreement\u201d) with [ Altria\nGroup, Inc. ](https://www.newcannabisventures.com/tag/cronos-group/) (NYSE:\nMO) (\u201cAltria\u201d) pursuant to which Altria has agreed to make an approximately\nC$2.4 billion equity investment in Cronos Group (the \u201cTransaction\u201d) on a\nprivate placement basis in exchange for common shares in the capital of the\nCompany (the \u201cShares\u201d). Altria will also receive Warrants of Cronos Group (the\n\u201cWarrants\u201d), that if fully exercised, would provide the Company with an\nadditional approximately C$1.4 billion of proceeds. The Shares issuable to\nAltria pursuant to the Subscription Agreement will result in Altria holding an\napproximately 45% ownership interest in Cronos Group (calculated on a non-\ndiluted basis), exercise of the Warrants would result in incremental ownership\nof 10% for a total potential ownership position of 55%. This strategic\npartnership provides Cronos Group with additional financial resources, product\ndevelopment and commercialization capabilities, and deep regulatory expertise\nto better position the Company to compete, scale and lead the rapidly growing\nglobal cannabis industry.\n\n> Altria is the ideal partner for Cronos Group, providing the resources and\n> expertise we need to meaningfully accelerate our strategic growth. The\n> proceeds from Altria\u2019s investment will enable us to more quickly expand our\n> global infrastructure and distribution footprint, while also increasing\n> investments in R&D and brands that resonate with our consumers. Importantly,\n> Altria shares our vision of driving long-term value through innovation, and\n> we look forward to continuing to differentiate in this area.\n\n#####\n\n> As one of the largest holding companies in the adult consumer products\n> sector, Altria has decades of experience in regulatory, government affairs,\n> compliance, product development and brand management that we expect to\n> leverage, particularly as new markets for cannabis open around the world.\n\n\u201cInvesting in Cronos Group as our exclusive partner in the emerging global\ncannabis category represents an exciting new growth opportunity for Altria,\u201d\nsaid Howard Willard, Altria\u2019s Chairman and Chief Executive Officer. \u201cWe\nbelieve that Cronos Group\u2019s excellent management team has built capabilities\nnecessary to compete globally, and we look forward to helping Cronos Group\nrealize its significant growth potential.\u201d\n\n**Benefits of the Transaction**\n\n * **Accelerates Cronos Group\u2019s pace of growth and expansion.** The growth opportunities for Cronos Group are significant and extend across the globe as markets open. With Altria\u2019s resources, Cronos Group expects to be even better positioned to support cannabinoid innovation, create differentiated products and brands across medicinal and recreational categories, and expand its global footprint and growing production capacity. \n * **Bolsters Cronos Group\u2019s ability to be an innovation leader in the cannabis industry.** Cronos Group\u2019s research collaborations with Gingko Bioworks to develop cultured cannabinoids and its partnership with the Technion Research and Development Foundation for cannabinoid-based skin care treatments are just two recent examples of how the Cronos Group intends to use innovation and its growing intellectual property portfolio to develop new applications for cannabinoids across a range of products and categories. Altria shares Cronos Group\u2019s commitment to innovation, medical cannabis research and state of the art product development. \n * **Leverages Altria\u2019s product design, manufacturing, marketing and distribution capabilities** **and expertise.** Cronos Group expects to work with Altria to rapidly expand its product offerings in markets as regulations permit, including device technology. Altria has significant expertise that can serve as building blocks for cannabis vape products. Altria also brings considerable experience with large-scale manufacturing automation, pre-roll technology and supply chain management. In addition, by investing the incremental capital, Cronos Group expects to enhance its attractiveness as a potential partner to other medicinal and consumer focused partners that may work with the Company to further expand its product offerings and distribution capabilities for the benefit of its shareholders. \n * **Provides expertise in successfully navigating complex regulatory landscapes.** Altria has a strong record of managing multi-faceted regulatory, compliance and government affairs environments related to taxation, product registration, shipping and other legal issues that Cronos Group expects to be able to leverage as cannabis markets develop and open around the world. \n * **Raises capital at a premium valuation and delivers even greater upside opportunities for Cronos Group shareholders, employees and partners.** Under the terms of the agreement, Altria has agreed to acquire 146.2 million Shares at a price of C$16.25 per Share. The price per Share represents a 41.5% premium to the Company\u2019s 10-day volume weighted average price (\u201cVWAP\u201d) on the TSX, ending November 30, 2018, the last unaffected trading day prior to when Cronos Group publicly disclosed preliminary discussions with Altria. The strategic investment combined with Altria\u2019s expertise and complementary capabilities are expected to better position Cronos Group for significant growth and value creation with benefits to all of the Company\u2019s stakeholders, including its holders of Shares (the \u201cShareholders\u201d), employees and partners. \n\n**Board Recommendation**\n\nThe Board of Directors of Cronos Group (the \u201cBoard\u201d), after consultation with\nits legal and financial advisors, has unanimously determined that the\nTransaction is in the best interest of Cronos Group and is unanimously\nrecommending that Shareholders vote in favor of the Transaction. The Board has\nreceived an opinion from its financial advisor, Lazard Canada Inc., that as of\nthe date thereof and subject to the assumptions, qualifications and\nlimitations set forth therein, the consideration to be received by the Company\npursuant to the Transaction is fair, from a financial point of view, to the\nCompany.\n\n**Key Transaction Terms**\n\n_Equity Investment_\n\nPursuant to the Subscription Agreement, Altria has agreed to acquire 146.2\nmillion Shares at closing at a price of C$16.25per Share, which represents a\n41.5% premium to the 10-day VWAP of the Shares on the TSX on November 30,\n2018, the last unaffected trading day prior to when Cronos Group publicly\ndisclosed preliminary discussions with Altria.\n\nAltria will also receive Warrants at closing entitling it to acquire up to an\nadditional 10% ownership position in the Company exercisable from time to\ntime, for a period of four years following closing for an exercise price of\nC$19.00 per Share, which represents an implied premium of 65.5% to the 10-day\nVWAP of the Shares on the TSX on November 30, 2018. Altria\u2019s ownership\ninterest in Cronos Group would be approximately 55% (calculated on a non-\ndiluted basis). Additionally, the Warrants will contain certain anti-dilution\nprovisions.\n\n_Governance Rights_\n\nPursuant to an investor rights agreement to be entered into, at closing (the\n\u201cInvestor Rights Agreement\u201d), Altria will have the right to nominate four\ndirectors, including one independent director, to serve on the Board of\nDirectors of Cronos Group, which will be expanded from five to seven directors\nin connection with the Transaction.\n\n_Altria\u2019s Exclusive Cannabis Partner_\n\nUnder the Investor Rights Agreement, Altria has agreed to make Cronos Group\nits exclusive partner for pursuing cannabis opportunities throughout the world\n(subject to certain limited exceptions.\n\nAt closing, the parties are also expected to enter into commercial support\nagreements under which Altria will provide services relating to marketing and\nbrand management, government affairs, regulatory affairs, and research and\ndevelopment.\n\n_Closing and Approvals_\n\nThe Transaction is expected to close in the first half of 2019, subject to\ncertain customary closing conditions including the receipt of approval from\nthe TSX, and receipt of regulatory approval pursuant to the Investment Canada\nAct. In addition, under applicable TSX rules, the Transaction will require\napproval by at least the majority of the votes cast by Shareholders present at\na special meeting of Shareholders as the Transaction is expected to materially\naffect control of Cronos Group.\n\n_**Additional Information** _\n\nFurther information regarding the transaction will be included in the\nmanagement information circular to be mailed to Shareholders in connection\nwith the Company\u2019s special meeting of Shareholders to approve the transaction.\nCopies of the Subscription Agreement and the agreements attached thereto as\nexhibits, including the form of Warrant and the form of Investor Rights\nAgreement, will be filed on the Company\u2019s profile on SEDAR at [ www.sedar.com\n](http://www.sedar.com) and EDGAR at [ www.sec.gov ](https://www.sec.gov) .\nThe above descriptions of the terms and conditions of the Subscription\nAgreement and the agreements attached thereto as exhibits, including the form\nof Warrant and the form of Investor Rights Agreement, are qualified in their\nentirety by the terms of the Subscription Agreement which will be filed on the\nCompany\u2019s profile on SEDAR at [ www.sedar.com ](http://www.sedar.com) and\nEDGAR at [ www.sec.gov ](https://www.sec.gov) .\n\n**Advisors**\n\nLazard Canada Inc. is serving as financial advisor to Cronos Group, and\nSullivan & Cromwell LLP and Blake, Cassels & Graydon LLP are legal counsel.\n\nPerella Weinberg Partners LP is serving as financial advisor to Altria, and\nWachtell, Lipton, Rosen & Katz and Goodmans LLP are legal counsel. Hunton\nAndrews Kurth LLP is providing legal counsel to Altria regarding the\nfinancing.\n\n**Analyst / Investor Conference Call and Webcast**\n\nCronos Group will host a conference call and webcast today, Friday, December 7\nat 8:30 a.m. ET to discuss today\u2019s announcement.\n\nThe conference call can be accessed by dialing (647) 427-7450 for callers from\nthe U.S. and (888) 231-8191 for international callers. The confirmation code\nis 9359909.\n\nA live webcast of the conference call will be available at [\nhttps://thecronosgroup.com/investor-relations\n](https://thecronosgroup.com/investor-relations) .\n\nA replay of the conference call will be available for approximately two weeks,\nfrom December 7, 2018 through December 21, 2018, and can be accessed by\ndialing (855) 859-2056 and providing the 9359909 confirmation code.\n\nThe webcast will also be archived at [ https://thecronosgroup.com/investor-\nrelations. ](https://thecronosgroup.com/investor-relations.)\n\n**About Cronos Group**\n\nCronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across five continents. Cronos Group operates two\nwholly-owned Canadian licensed producers: Peace Naturals Project Inc., which\nwas the first non-incumbent medical cannabis license granted by Health Canada,\nand Original BC Ltd., which is based in the Okanagan Valley, British Columbia.\nCronos Group has multiple international production and distribution platforms\nacross five continents. Cronos Group intends to continue to rapidly expand its\nglobal footprint as it focuses on building an international iconic brand\nportfolio and developing disruptive intellectual property. Cronos Group is\ncommitted to building industry leading companies that transform the perception\nof cannabis and responsibly elevate the consumer experience.\n\n**About Altria**\n\nAltria\u2019s wholly-owned subsidiaries include Philip Morris USA Inc., U.S.\nSmokeless Tobacco Company LLC, John Middleton Co., Sherman Group Holdings, LLC\nand its subsidiaries, Nu Mark LLC, Ste. Michelle Wine Estates Ltd. (Ste.\nMichelle) and Philip Morris Capital Corporation. Altria holds an equity\ninvestment in Anheuser-Busch InBev SA/NV (AB InBev).\n\nThe brand portfolios of Altria\u2019s tobacco operating companies include\nMarlboro\u00ae, Black & Mild\u00ae, Copenhagen\u00ae, Skoal\u00ae, VERVE\u00ae, MarkTen\u00ae and Green\nSmoke\u00ae. Ste. Michelle produces and markets premium wines sold under various\nlabels, including Chateau Ste. Michelle\u00ae, Columbia Crest\u00ae, 14 Hands\u00ae and\nStag\u2019s Leap Wine Cellars\u2122, and it imports and markets Antinori\u00ae, Champagne\nNicolas Feuillatte\u2122, Torres\u00ae and Villa Maria Estate\u2122 products in the United\nStates. Trademarks and service marks related to Altria referenced in this\nrelease are the property of Altria or its subsidiaries or are used with\npermission. More information about Altria is available at altria.com and on\nthe Altria Investor app.\n\nTake a closer look at Altria and its companies on altria.com.\n\nFollow Altria on Twitter at @AltriaNews.\n\n[ Original press release ](https://www.prnewswire.com/news-releases/cronos-\ngroup-inc-announces-c2-4-billion-strategic-investment-from-altria-group-\ninc-300761820.html)\n\nPublished by NCV Newswire\n\nThe NCV Newswire by New Cannabis Ventures aims to curate high quality content\nand information about leading cannabis companies to help our readers filter\nout the noise and to stay on top of the most important cannabis business news.\nThe NCV Newswire is hand-curated by an editor and not automated in anyway.\nHave a confidential news tip? [ Get in touch\n](https://form.jotform.com/53395769996179) .\n\n \n\n## Get Our Sunday Newsletter\n\n## In This Article:\n\n**[ Altria ](https://www.newcannabisventures.com/tag/altria/) , [ CRON\n](https://www.newcannabisventures.com/tag/cron/) , [ Cronos\n](https://www.newcannabisventures.com/tag/cronos/) , [ Cronos Group\n](https://www.newcannabisventures.com/tag/cronos-group/) , [ mo\n](https://www.newcannabisventures.com/tag/mo/) **\n\n## Related News:\n\n### [ Looking at the Cannabis Meltdown by Sub-Sector\n](https://www.newcannabisventures.com/looking-at-the-cannabis-meltdown-by-sub-\nsector/) ### [ Canadian Cannabis Sales Sank in January\n](https://www.newcannabisventures.com/canadian-cannabis-sales-sank-in-\njanuary/) ### [ One Cannabis Sub-Sector Rallied\n](https://www.newcannabisventures.com/one-cannabis-sub-sector-rallied/) ### [\nCanadian Cannabis Sales Soared in December\n](https://www.newcannabisventures.com/canadian-cannabis-sales-soar-in-\ndecember/)\n\n* * *\n\n* ### **Latest News**\n\nApril 24th, 2025\n\nYou\u2019re reading this week\u2019s edition of the New Cannabis...\n\nApril 17th, 2025\n\nYou\u2019re reading this week\u2019s edition of the New Cannabis...\n\n* ### **Get The App**\n\nDownload the free \u201cNew Cannabis Ventures\u201d app on the iOS App Store or Google\nPlay and get real-time push notifications straight to your phone on the latest\nbreaking news and exclusives published.\n\n* * *\n\n[ ](https://itunes.apple.com/us/app/ncv-news/id1123542865?ls=1&mt=8)\n\n[ ](https://play.google.com/store/apps/details?id=com.ncvnews.app.android)\n\n* ### **NCV Media**\n\n#### Thank you for reading\n\n#### New Cannabis Ventures\n\nContributing original content and curating quality news on only the most\npromising cannabis companies and the most influential investors.\n\nFollow us on \n\n[ __ ](https://www.facebook.com/ncvmedia) [ __ ](https://twitter.com/ncvmedia)\n[ __ ](https://www.linkedin.com/company/new-cannabis-ventures/)\n\n\u00a9 [ NCV Media, LLC. ](/)\n\n * [ About ](https://www.newcannabisventures.com/about-new-cannabis-ventures/)\n * [ Contact ](https://www.newcannabisventures.com/contact/)\n * [ Newsletter ](https://www.newcannabisventures.com/subscribe/)\n * [ Advertising ](https://www.newcannabisventures.com/cannabis-advertising/)\n * [ Privacy ](https://www.newcannabisventures.com/privacy-policy/)\n * [ Disclaimer ](https://www.newcannabisventures.com/disclaimer/)\n * [ Status ](http://status.newcannabisventures.com/4262862)\n\n",
"url": "https://www.newcannabisventures.com/altria-buys-45-of-cronos-group-for-c2-4-billion-with-option-to-take-controlling-stake/"
},
"reason": "This article reports on Altria's acquisition of a stake in Cronos Group, a significant event directly involving the company. The information is factual and sourced from a reliable industry publication.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Altria Buys 45% of Cronos Group for C$2.4 Billion with Option to Take Controlling Stake",
"url": "https://www.newcannabisventures.com/altria-buys-45-of-cronos-group-for-c2-4-billion-with-option-to-take-controlling-stake/"
},
{
"content": {
"metadata": {
"ext_id": "4f309906-5138-4c95-9f2e-7407dc493b59",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketscreener.com/quote/stock/CRONOS-GROUP-INC-19156080/company/"
},
"page_content": "[ CRONOS GROUP INC ](/quote/stock/CRONOS-GROUP-INC-19156080/)\n\n__\n\nAdd to a list\n\n__\n\nTo use this feature you must be a member\n\n[ Log in ](/login/) [ Sign up ](/registration/member/)\n\nInactive Instrument\n\n# __ Company Cronos Group Inc Toronto S.E.\n\n## [ __ Equities ](/stock-exchange/shares/north-america/canada-11/)\n\n## CA22717L1013\n\n## [ Pharmaceuticals ](/stock-exchange/sectors/healthcare/pharmaceuticals-\nmedical-\nresearch/?cf=TVFOTUNaNHRzcDc1WlpjTHZYM1ZsK3hOY2FVQUY0RmFtZWQ4b25DQTdZUT0)\n\n### Business description: Cronos Group Inc\n\nCronos Group Inc. is a Canada-based global cannabinoid company engaged in\nbuilding intellectual property by advancing cannabis research, technology and\nproduct development. The Company operates through one segment, which is\ncomprised of operations in Canada and Israel and is involved in the\ncultivation, manufacture, and marketing of cannabis and cannabis-derived\nproducts for the medical and adult-use markets. The Company\u00e2\u0080\u0099s international\nbrand portfolio includes Spinach, PEACE NATURALS, and Lord Jones. The Spinach\nbrand offers pre-rolls infused with cold-filtered cannabis extract and coated\nin kief, and all-in-one disposable vapes. The Lord Jones is a hemp-derived\ncannabidiol (CBD) brand. Its Lord Jones Hash Fusions are a line-up of premium\nice water hash infused pre-rolls. This brand also offers vapes and edibles.\nIts PEACE NATURALS offer Peppermint CBD, a blend of CBD extract, quality\nmedium-chain triglycerides (MCT) oil, and a hint of natural peppermint flavor.\n\n### Sales by Activity: Cronos Group Inc\n\n_Fiscal Period: December_ | 2020 | 2021 | 2022 | 2023 | 2024 \n---|---|---|---|---|--- \nCultivation, Manufacture & Marketing of Cannabis and Cannabis-derived Products __ __ | \\- | \\- | \\- | 87.24M | 118M \nRest of World __ __ | 37.22M | 64.56M | 86.75M | \\- | \\- \nUnited States __ __ | 9.5M | 9.87M | 5.16M | \\- | \\- \n \n[ See all business segments ](/quote/stock/CRONOS-GROUP-INC-19156080/finances-\nsegments/)\n\n### Geographical breakdown of sales: Cronos Group Inc\n\n_Fiscal Period: December_ | 2020 | 2021 | 2022 | 2023 | 2024 \n---|---|---|---|---|--- \nCanada __ __ | 34.54M | 50.29M | 56.23M | 64.7M | 82.44M \nIsrael __ __ | \\- | 13.38M | 30.52M | 21.13M | 28.37M \nOther Countries __ __ | 2.69M | 891K | \\- | 1.4M | 6.81M \nUnited States __ __ | 9.5M | 9.87M | 5.16M | \\- | \\- \n \n[ See all geographic segments ](/quote/stock/CRONOS-GROUP-\nINC-19156080/finances-segments/#geography)\n\n### Executive Committee: Cronos Group Inc\n\nManager | Title | Age | Since \n---|---|---|--- \n[ Michael Gorenstein ](/insider/MICHAEL-GORENSTEIN-A1X3A2/ \"Michael Gorenstein CEO Cronos Group Inc\") CEO __ | Chief Executive Officer | 38 | 2022-03-20 \n[ Anna Shlimak ](/insider/ANNA-SHLIMAK-A2Y0C9/ \"Anna Shlimak DFI Cronos Group Inc\") DFI __ | Director of Finance/CFO | 39 | 2025-03-18 \n[ Arye Weigensberg ](/insider/ARYE-WEIGENSBERG-A3D3ML/ \"Arye Weigensberg CTO Cronos Group Inc\") CTO __ | Chief Tech/Sci/R&D Officer | 42 | \\- \n[ Adam Wagner ](/insider/ADAM-WAGNER-A3WYPK/ \"Adam Wagner PRN Cronos Group Inc\") PRN __ | Corporate Officer/Principal | 42 | 2024-03-31 \n[ James Mcginness ](/insider/JAMES-MCGINNESS-A3ALK6/ \"James Mcginness AUD Cronos Group Inc\") AUD __ | Comptroller/Controller/Auditor | 47 | 2023-05-21 \n[ See CRONOS GROUP INC governance ](/quote/stock/CRONOS-GROUP-\nINC-19156080/company-governance/)\n\n### Composition of the Board of Directors: Cronos Group Inc\n\nDirector | Title | Age | Since \n---|---|---|--- \n[ Michael Gorenstein ](/insider/MICHAEL-GORENSTEIN-A1X3A2/ \"Michael Gorenstein CHM Cronos Group Inc\") CHM __ | Chairman | 38 | 2017-03-01 \n[ Jason Adler ](/insider/JASON-ADLER-A0O305/ \"Jason Adler BRD Cronos Group Inc\") BRD __ | Director/Board Member | 53 | 2016-07-11 \n[ James Rudyk ](/insider/JAMES-RUDYK-A0FPDB/ \"James Rudyk BRD Cronos Group Inc\") BRD __ | Director/Board Member | 58 | 2018-01-31 \n[ Kamran Khan ](/insider/KAMRAN-KHAN-A3RQGV/ \"Kamran Khan BRD Cronos Group Inc\") BRD __ | Director/Board Member | 51 | 2023-06-21 \n[ Dominik Meier ](/insider/DOMINIK-MEIER-A3RQGY/ \"Dominik Meier BRD Cronos Group Inc\") BRD __ | Director/Board Member | 47 | 2023-06-21 \n[ Elizabeth Seegar ](/insider/ELIZABETH-SEEGAR-A3RQH0/ \"Elizabeth Seegar BRD Cronos Group Inc\") BRD __ | Director/Board Member | 47 | 2023-06-21 \n[ Murray Garnick ](/insider/MURRAY-GARNICK-A1KO56/ \"Murray Garnick BRD Cronos Group Inc\") BRD __ | Director/Board Member | 65 | 2019-03-07 \n[ Composition of the Board of Directors ](/quote/stock/CRONOS-GROUP-\nINC-19156080/company-governance/)\n\n### Shareholders: Cronos Group Inc\n\nName | Equities | % | Valuation \n---|---|---|--- \n[ __ ALTRIA GROUP, INC. ](/quote/stock/ALTRIA-GROUP-INC-4837/) 40.96 % __ \n \n156,573,537 | 40.96 % | 283 M $ | [ Jason Adler ](/insider/JASON-ADLER-A0O305/) 3.752 % __ \n \n14,342,209 | 3.752 % | 26 M $ | [ Michael Gorenstein ](/insider/MICHAEL-GORENSTEIN-A1X3A2/) 3.272 % __ \n \n12,508,772 | 3.272 % | 23 M $ | __ Chescapmanager LLC 2.08 % __ \n \n7,950,237 | 2.08 % | 14 M $ | __ Vanguard Fiduciary Trust Co. 1.968 % __ \n \n7,524,599 | 1.968 % | 14 M $ [ List of CRONOS GROUP INC shareholders ](/quote/stock/CRONOS-GROUP-INC-19156080/company-shareholders/)\n\n### Holdings: Cronos Group Inc\n\n| Name | Equities | % | Valuation \n---|---|---|--- \n[ __ VITURA HEALTH LIMITED ](/quote/stock/VITURA-HEALTH-LIMITED-75680977/) 8.33% __ | 55,176,065 | 8.33% | 2,750,527 $ \n \n### Company details: Cronos Group Inc\n\nCronos Group, Inc.\n\n4491 Concession Road 12\n\nL0M 1S0, Stayner\n\n+416 504 0004\n\n[ http://www.thecronosgroup.com ](http://www.thecronosgroup.com)\n\n### Alternative Medicine\n\n| Add to a list __ 0 selected To use this feature you must be a member [ Log in ](/login/) [ Sign up ](/registration/member/) | Change | 5d. change | 1-year change | 3-years change | Capi.($) \n---|---|---|---|---|---|--- \n| __ [ DONG-E-E-JIAO CO.,LTD. ](/quote/stock/DONG-E-E-JIAO-CO-LTD-6496914/ \"Stock Dong-E-E-Jiao Co.,Ltd.\") [ ](/quote/stock/DONG-E-E-JIAO-CO-LTD-6496914/ \"Stock Dong-E-E-Jiao Co.,Ltd.\") | +0.58% | +2.05% | -9.51% | +91.30% | 5.44B \n| __ [ TASLY PHARMACEUTICAL GROUP CO., LTD ](/quote/stock/TASLY-PHARMACEUTICAL-GROU-6497331/ \"Stock Tasly Pharmaceutical Group Co., Ltd\") [ ](/quote/stock/TASLY-PHARMACEUTICAL-GROU-6497331/ \"Stock Tasly Pharmaceutical Group Co., Ltd\") | +0.33% | +0.13% | -1.76% | +11.97% | 3.1B \n| __ [ SHIJIAZHUANG YILING PHARMACEUTICAL CO., LTD. ](/quote/stock/SHIJIAZHUANG-YILING-PHARM-11367295/ \"Stock Shijiazhuang Yiling Pharmaceutical Co., Ltd.\") [ ](/quote/stock/SHIJIAZHUANG-YILING-PHARM-11367295/ \"Stock Shijiazhuang Yiling Pharmaceutical Co., Ltd.\") | +0.30% | -0.53% | -31.49% | -54.80% | 3.07B \n| __ [ TIANJIN PHARMACEUTICAL DA REN TANG GROUP CORPORATION LIMITED ](/quote/stock/TIANJIN-PHARMACEUTICAL-DA-6497567/ \"Stock Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited\") [ ](/quote/stock/TIANJIN-PHARMACEUTICAL-DA-6497567/ \"Stock Tianjin Pharmaceutical Da Ren Tang Group Corporation Limited\") | +0.20% | -0.82% | -9.03% | +42.12% | 2.78B \n| __ [ SHANDONG BUCHANG PHARMACEUTICALS CO., LTD. ](/quote/stock/SHANDONG-BUCHANG-PHARMACE-35858984/ \"Stock Shandong Buchang Pharmaceuticals Co., Ltd.\") [ ](/quote/stock/SHANDONG-BUCHANG-PHARMACE-35858984/ \"Stock Shandong Buchang Pharmaceuticals Co., Ltd.\") | 0.00% | +0.28% | -12.98% | -27.47% | 2.16B \n| __ [ TIBET CHEEZHENG TIBETAN MEDICINE CO., LTD. ](/quote/stock/TIBET-CHEEZHENG-TIBETAN-M-12844913/ \"Stock Tibet Cheezheng Tibetan Medicine Co., Ltd.\") [ ](/quote/stock/TIBET-CHEEZHENG-TIBETAN-M-12844913/ \"Stock Tibet Cheezheng Tibetan Medicine Co., Ltd.\") | +1.91% | +6.14% | +8.05% | -2.39% | 1.79B \n| __ [ HENAN LINGRUI PHARMACEUTICAL CO., LTD. ](/quote/stock/HENAN-LINGRUI-PHARMACEUTI-6498176/ \"Stock Henan Lingrui Pharmaceutical Co., Ltd.\") [ ](/quote/stock/HENAN-LINGRUI-PHARMACEUTI-6498176/ \"Stock Henan Lingrui Pharmaceutical Co., Ltd.\") | -0.13% | +0.66% | -2.98% | +104.30% | 1.71B \n| __ [ ZHEJIANG JOLLY PHARMACEUTICAL CO.,LTD ](/quote/stock/ZHEJIANG-JOLLY-PHARMACEUT-11367242/ \"Stock Zhejiang Jolly Pharmaceutical Co.,LTD\") [ ](/quote/stock/ZHEJIANG-JOLLY-PHARMACEUT-11367242/ \"Stock Zhejiang Jolly Pharmaceutical Co.,LTD\") | +1.95% | +1.46% | +15.24% | +89.46% | 1.59B \n| __ [ TIANJIN CHASE SUN PHARMACEUTICAL CO.,LTD ](/quote/stock/TIANJIN-CHASE-SUN-PHARMAC-6500448/ \"Stock Tianjin Chase Sun Pharmaceutical Co.,Ltd\") [ ](/quote/stock/TIANJIN-CHASE-SUN-PHARMAC-6500448/ \"Stock Tianjin Chase Sun Pharmaceutical Co.,Ltd\") | 0.00% | -0.30% | -9.76% | -46.46% | 1.37B \n| Average | +0.57% | -0.75% | -6.02% | +23.11% | 2.56B \n| Weighted average by Cap. | +0.52% | -0.74% | -8.12% | +29.37% | \n \n[ See all sector performances ](/quote/stock/CRONOS-GROUP-\nINC-19156080/sector/)\n\n### Sector\n\n| | [ Healthcare ](/stock-exchange/sectors/healthcare/) \n---|---|--- \n| | | [ Pharmaceuticals & Medical Research ](/stock-exchange/sectors/healthcare/pharmaceuticals-medical-research/) \n| | | | [ Pharmaceuticals ](/stock-exchange/sectors/healthcare/pharmaceuticals-medical-research/?cf=RlhWbDJLR20zbEhzWDF4Y2FSNDVLa09NenNLYjVwWnRUUTVQMU9oenJ2QT0) \n| | | | | [ Pharmaceuticals ](/stock-exchange/sectors/healthcare/pharmaceuticals-medical-research/?cf=TVFOTUNaNHRzcDc1WlpjTHZYM1ZsK3hOY2FVQUY0RmFtZWQ4b25DQTdZUT0) \n| | | | | | [ Alternative Medicine ](/stock-exchange/sectors/healthcare/pharmaceuticals-medical-research/?cf=TVFOTUNaNHRzcDc1WlpjTHZYM1ZseHVNc1psdFpTd1JKSU5nMm9iL0pMND0) \n \n 1. [ Stock Market ](/)\n 2. [ Equities ](/stock-exchange/shares/)\n 3. [ CRON Stock ](/quote/stock/CRONOS-GROUP-INC-54039152/)\n 4. [ Stock ](/quote/stock/CRONOS-GROUP-INC-19156080/)\n 5. Company Cronos Group Inc \n\nBest financial \nportal\n\n+951% of historical \nperformance\n\nMore than 20 years \nat your side\n\n\\+ 1,000,000 \nmembers\n\nQuick & easy \ncancellation\n\nOur Experts \nare here for you\n\n__ __ __ __ __\n\nOUR EXPERTS ARE HERE FOR YOU\n\nMonday - Friday 9am-12pm / 2pm-6pm GMT + 1\n\nContact us\n\n__\n\nLegal information | Cookie settings | MarketScreener Blog | [ About us ](/about-us) | Copyright \u00a9 2025 Surperformance SAS. All rights reserved. \n\nStock quotes are provided by Factset, Morningstar and S&P Capital IQ\n\n__\n\nS\u00e9lectionnez votre \u00e9dition\n\nToutes les informations financi\u00e8res adapt\u00e9es au niveau national\n\n__\n\nNORTH AMERICA\n\n[ United-States ](/) [ Canada ](//ca.marketscreener.com/)\n\nMIDDLE EAST\n\n[ Saudi Arabia ](//sa.marketscreener.com/) [ United Arab Emirates\n](//ae.marketscreener.com/)\n\nEUROPE\n\n[ France ](//www.zonebourse.com/) [ Deutschland ](//de.marketscreener.com/)\n[ Suisse ](//ch.zonebourse.com/) [ Schweiz ](//ch.marketscreener.com/) [\nItalia ](//it.marketscreener.com/) [ \u00d6sterreich ](//at.marketscreener.com/)\n[ Belgi\u00eb ](//be.marketscreener.com/) [ Nederland ](//nl.marketscreener.com/)\n[ Espa\u00f1a ](//es.marketscreener.com/) [ Sverige ](//se.marketscreener.com/) [\nUnited Kingdom ](//uk.marketscreener.com/)\n\nAPAC\n\n[ Australia ](//au.marketscreener.com/) [ India ](//in.marketscreener.com/)\n[ Hong Kong ](//hk.marketscreener.com/)\n\n",
"url": "https://www.marketscreener.com/quote/stock/CRONOS-GROUP-INC-19156080/company/"
},
"reason": "This page provides company information for Cronos Group Inc. on MarketScreener, a reputable financial data provider.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Company information for Cronos Group Inc. on MarketScreener",
"url": "https://www.marketscreener.com/quote/stock/CRONOS-GROUP-INC-19156080/company/"
},
{
"content": {
"metadata": {
"ext_id": "7c30a20d-7c4c-430a-9818-2bd91c949bd5",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.biospace.com/cronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders"
},
"page_content": "[ SUBSCRIBE ](https://www.biospace.com/subscribe-to-newsletters)\n\n[ ](/)\n\n[ SUBSCRIBE ](https://www.biospace.com/subscribe-to-newsletters)\n\n# Cronos Group Inc. Sets Date for 2018 Annual and Special Meeting of\nShareholders\n\nJune 8, 2018 | \n\n3 min read\n\n * [ Twitter ](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders&text=Cronos%20Group%20Inc.%20Sets%20Date%20for%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders)\n * [ LinkedIn ](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders&mini=true&title=Cronos%20Group%20Inc.%20Sets%20Date%20for%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders&summary=Cronos%20Group%20Inc.%20will%20hold%20its%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders%20on%20Thursday%2C%20June%2028%2C%202018&source=BioSpace)\n * [ Facebook ](https://www.facebook.com/dialog/share?app_id=2120989681618413&display=popup&href=https%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders)\n * [ Email ](mailto:?subject=Check%20out%20this%20article%20on%20BioSpace&body=Cronos%20Group%20Inc.%20Sets%20Date%20for%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders%0A%0Ahttps%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders%0A%0ACronos%20Group%20Inc.%20will%20hold%20its%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders%20on%20Thursday%2C%20June%2028%2C%202018)\n * [ Print ](javascript:window.print\\(\\))\n\n## Cronos Group Inc. will hold its 2018 Annual and Special Meeting of\nShareholders on Thursday, June 28, 2018\n\nTORONTO, June 8, 2018 /PRNewswire/ - **Cronos Group Inc.** (NASDAQ: CRON)\n(TSX: CRON) **(** \" **Cronos Group** \" or the \" **Company** \"), a\ngeographically diversified and vertically integrated cannabis group, will hold\nits 2018 Annual and Special Meeting of Shareholders on Thursday, June 28, 2018\nat 9:30 a.m. at the offices of Blake, Cassels & Graydon LLP located at 199 Bay\nStreet, Suite 4000, Commerce Court West, Toronto. The Notice of Meeting,\nManagement Information Circular and Form of Proxy are available on the\nCompany's website [ www.thecronosgroup.com ](http://www.thecronosgroup.com/)\nin the governance section. A live audio webcast and replay of the meeting will\nalso be available in the investor relations section of the Company's website.\n\n**About Cronos Group** \nCronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across four continents. The Company operates two\nwholly-owned Canadian licensed producers regulated under Health Canada's\n_Access to Cannabis for Medical Purposes Regulations_ : Peace Naturals Project\nInc., which was the first non-incumbent medical cannabis license granted by\nHealth Canada, and Original BC Ltd., which is based in the Okanagan Valley,\nBritish Columbia. The Company has multiple international production and\ndistribution platforms including in Germany, Israel and Australia. The Company\nintends to continue to rapidly expand its global footprint as it focuses on\nbuilding an international iconic brand portfolio and develop disruptive\nintellectual property. Cronos Group is committed to building industry leading\ncompanies that transform the perception of cannabis and responsibly elevate\nthe consumer experience.\n\n**Forward-looking statements** \nThis news release contains \"forward-looking information\" and \"forward-looking\nstatements\" within the meaning of applicable Canadian and U.S. securities\nlaws. All information contained herein that is not clearly historical in\nnature may constitute forward-looking information. In some cases, forward-\nlooking statements can be identified by words or phrases such as \"may\",\n\"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\", \"estimate\",\n\"believe\" or the negative of these terms, or other similar expressions\nintended to identify forward-looking statements. Some of the forward-looking\nstatements contained in this press release, include the Company's intention to\ncontinue to rapidly expand its global footprint, build an international iconic\nbrand portfolio and develop disruptive intellectual property. Forward-looking\nstatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management, are inherently subject to\nsignificant business, economic and competitive risks, uncertainties and\ncontingencies that may cause actual financial results, performance or\nachievements to be materially different from the estimated future results,\nperformance or achievements expressed or implied by those forward-looking\nstatements and the forward-looking statements are not guarantees of future\nperformance. A discussion of some of the material risks applicable to the\nCompany can be found in the Company's current MD&A and Annual Information\nForm, both of which have been filed on SEDAR and can be accessed at\nwww.sedar.com. The forward-looking information included in this news release\nis made as of the date of this news release and, except as required by law,\nCronos Group disclaims any obligation to update or revise any forward-looking\nstatements. Readers are cautioned not to put undue reliance on these forward-\nlooking statements.\n\nView original content with multimedia: [ http://www.prnewswire.com/news-\nreleases/cronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-\nshareholders-300662199.html ](http://www.prnewswire.com/news-releases/cronos-\ngroup-inc-sets-date-for-2018-annual-and-special-meeting-of-\nshareholders-300662199.html)\n\nSOURCE Cronos Group Inc.\n\n * [ Twitter ](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders&text=Cronos%20Group%20Inc.%20Sets%20Date%20for%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders)\n * [ LinkedIn ](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders&mini=true&title=Cronos%20Group%20Inc.%20Sets%20Date%20for%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders&summary=Cronos%20Group%20Inc.%20will%20hold%20its%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders%20on%20Thursday%2C%20June%2028%2C%202018&source=BioSpace)\n * [ Facebook ](https://www.facebook.com/dialog/share?app_id=2120989681618413&display=popup&href=https%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders)\n * [ Email ](mailto:?subject=Check%20out%20this%20article%20on%20BioSpace&body=Cronos%20Group%20Inc.%20Sets%20Date%20for%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders%0A%0Ahttps%3A%2F%2Fwww.biospace.com%2Fcronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders%0A%0ACronos%20Group%20Inc.%20will%20hold%20its%202018%20Annual%20and%20Special%20Meeting%20of%20Shareholders%20on%20Thursday%2C%20June%2028%2C%202018)\n * [ Print ](javascript:window.print\\(\\))\n\n[ Events ](https://www.biospace.com/events)\n\nMORE ON THIS TOPIC\n\n[ ](https://www.biospace.com/drug-development/safety-questions-loom-in-\nduchenne-as-dyne-wave-and-others-plan-fda-filings)\n\n[ Duchenne muscular dystrophy ](https://www.biospace.com/duchenne-muscular-\ndystrophy)\n\n[ Safety Questions Loom in Duchenne as Dyne, Wave and Others Plan FDA Filings\n](https://www.biospace.com/drug-development/safety-questions-loom-in-duchenne-\nas-dyne-wave-and-others-plan-fda-filings)\n\nMarch 27, 2025\n\n\u00b7\n\n8 min read\n\n\u00b7\n\n[ Heather McKenzie ](https://www.biospace.com/heather-mckenzie)\n\n[ ](https://www.biospace.com/drug-development/Novartis-intrathecal-zolgensma-\neffective-in-older-children)\n\n[ Spinal muscular atrophy ](https://www.biospace.com/spinal-muscular-atrophy)\n\n[ Novartis\u2019 Intrathecal Zolgensma Effective in Older Children\n](https://www.biospace.com/drug-development/Novartis-intrathecal-zolgensma-\neffective-in-older-children)\n\nMarch 19, 2025\n\n\u00b7\n\n6 min read\n\n\u00b7\n\n[ Heather McKenzie ](https://www.biospace.com/heather-mckenzie)\n\n[ ](https://www.biospace.com/policy/transparency-missing-in-action-at-hhs-\ndespite-leaders-calls-for-clarity)\n\n[ Editorial ](https://www.biospace.com/editorial)\n\n[ Transparency Missing in Action at HHS Despite Leaders\u2019 Calls for Clarity\n](https://www.biospace.com/policy/transparency-missing-in-action-at-hhs-\ndespite-leaders-calls-for-clarity)\n\nFebruary 28, 2025\n\n\u00b7\n\n4 min read\n\n\u00b7\n\n[ Heather McKenzie ](https://www.biospace.com/heather-mckenzie)\n\n[ ](https://www.biospace.com/drug-development/bms-pfizer-challenge-colorectal-\ncancer-standard-care-with-asco-gi-readouts)\n\n[ Cancer ](https://www.biospace.com/cancer)\n\n[ BMS, Pfizer Challenge Colorectal Cancer Standard Care With ASCO GI Readouts\n](https://www.biospace.com/drug-development/bms-pfizer-challenge-colorectal-\ncancer-standard-care-with-asco-gi-readouts)\n\nJanuary 27, 2025\n\n\u00b7\n\n2 min read\n\n\u00b7\n\n[ Tristan Manalac ](https://www.biospace.com/tristan-manalac)\n\n[ ](/)\n\n_BioSpace_ is the digital hub for life science news and jobs. We provide\nessential insights, opportunities and tools to connect innovative\norganizations and talented professionals who advance health and quality of\nlife across the globe.\n\n\u00a9 1985 - 2025 BioSpace.com. All rights reserved.\n\n * [ twitter ](https://twitter.com/biospace)\n * [ instagram ](https://www.instagram.com/biospacenews/)\n * [ facebook ](https://www.facebook.com/biospacecommunity)\n * [ linkedin ](https://www.linkedin.com/company/biospaceinc)\n\n",
"url": "https://www.biospace.com/cronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders"
},
"reason": "This article reports on Cronos Group setting a date for its annual meeting, providing direct and verifiable information.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Inc. Sets Date for 2018 Annual and Special Meeting of Shareholders",
"url": "https://www.biospace.com/cronos-group-inc-sets-date-for-2018-annual-and-special-meeting-of-shareholders"
},
{
"content": {
"metadata": {
"ext_id": "0d9c9e3c-eb27-4734-b76c-2f250fdf0588",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://ca.marketscreener.com/quote/stock/CRONOS-GROUP-INC-54039152/company-shareholders/"
},
"page_content": "[ CRONOS GROUP INC. ](/quote/stock/CRONOS-GROUP-INC-54039152/)\n\n__ __\n\nAdd to a list\n\n__\n\nTo use this feature you must be a member\n\n[ Log in ](/login/) [ Sign up ](/registration/member/)\n\n__\n\n# Share ownership Cronos Group Inc.\n\n## [ __ Equities ](/stock-exchange/shares/north-america/canada-11/)\n\n## CRON\n\n## CA22717L1013\n\n## [ Pharmaceuticals ](/stock-exchange/sectors/healthcare/pharmaceuticals-\nmedical-\nresearch/?cf=TVFOTUNaNHRzcDc1WlpjTHZYM1ZsK3hOY2FVQUY0RmFtZWQ4b25DQTdZUT0)\n\n| Market Closed - Toronto S.E. __ Other stock markets __ 16:00:00 2025-04-23 EDT | 5-day change | 1st Jan Change \n---|---|--- \n2.480 CAD | +1.22% | | +4.64% | -14.19% \n \n04-22 | [ Cronos Group Inc. Unveils New Spinach 1.2g Vapes and SOURZ by Spinach Gummies Enhanced with Rare Cannabinoids ](/quote/stock/CRONOS-GROUP-INC-54039152/news/Cronos-Group-Inc-Unveils-New-Spinach-1-2g-Vapes-and-SOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Can-49679736/) | CI \n---|---|--- \n03-19 | [ Cronos Group Appoints Anna Shlimak As Chief Financial Officer; Shares Up 1% From Near 52 Week Lows In US Premarket Trade ](/quote/index/NASDAQ-COMPOSITE-4944/news/Cronos-Group-Appoints-Anna-Shlimak-As-Chief-Financial-Officer-Shares-Up-1-From-Near-52-Week-Lows-I-49375577/) | MT \n \n### Share class: Cronos Group Inc.\n\n| Vote | Quantity | Free-Float | Company-owned shares | Total Float \n---|---|---|---|---|--- \nStock A | 1 | 382,530,780 | 200,372,193 ( 52.38 %) | 0 | 52.38 % \n \n## Major shareholders: Cronos Group Inc.\n\nName | Equities | % | Valuation \n---|---|---|--- \n__ Altria Group, Inc. 40.96 % __ \n \n156,573,537 | 40.96 % | 283 M $ | [ Jason Adler ](/insider/JASON-ADLER-A0O305/) 3.752 % __ \n \n14,342,209 | 3.752 % | 26 M $ | [ Michael Gorenstein ](/insider/MICHAEL-GORENSTEIN-A1X3A2/) 3.272 % __ \n \n12,508,772 | 3.272 % | 23 M $ | __ Chescapmanager LLC 2.08 % __ \n \n7,950,237 | 2.08 % | 14 M $ | __ Vanguard Fiduciary Trust Co. 1.968 % __ \n \n7,524,599 | 1.968 % | 14 M $ | __ ETF Managers Group LLC 1.412 % __ \n \n5,399,750 | 1.412 % | 10 M $ | __ Tidal Investments LLC 1.278 % __ \n \n4,884,980 | 1.278 % | 9 M $ | __ Dimensional Fund Advisors LP (13F Subfiler) 0.6646 % __ \n \n2,540,655 | 0.6646 % | 5 M $ | __ Global X Investments Canada, Inc. 0.5758 % __ | 2,201,361 | 0.5758 % | 4 M $ \n__ MMCAP International Inc. SPC 0.4543 % __ | 1,736,600 | 0.4543 % | 3 M $ \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n__ \u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591\u2591 | \u2591 \u2591\u2591\u2591 | \u2591\u2591\u2591\u2591% | \u2591\u2591 \n \n## Breakdown by shareholder type\n\nAltria Group, Inc. | 40.96% \n---|--- \nInstitutional | 11.41% \nIndividuals | 7.39% \nOther | 1.79% \nSchweizerische Nationalbank | 0.11% \nBaader Bank AG | 0.05% \nUnknown | 38.29% \n \nBased on 1000 largest holdings\n\n## Geographical origin of shareholders\n\n__ United States | 52.44% \n---|--- \nIndividuals | 7.39% \n__ Canada | 0.82% \n__ Cayman Islands | 0.45% \n__ Switzerland | 0.2% \n__ France | 0.13% \n__ United Kingdom | 0.13% \n__ Ireland | 0.06% \n__ Germany | 0.06% \n__ Israel | 0.02% \n \nBased on 1000 largest holdings\n\n## [ Company Profile ](/quote/stock/CRONOS-GROUP-INC-54039152/company/)\n\nCronos Group Inc. is a Canada-based global cannabinoid company engaged in\nbuilding intellectual property by advancing cannabis research, technology and\nproduct development. The Company operates through one segment, which is\ncomprised of operations in Canada and Israel and is involved in the\ncultivation, manufacture, and marketing of cannabis and cannabis-derived\nproducts for the medical and adult-use markets. The Company\u00e2\u0080\u0099s international\nbrand portfolio includes Spinach, PEACE NATURALS, and Lord Jones. The Spinach\nbrand offers pre-rolls infused with cold-filtered cannabis extract and coated\nin kief, and all-in-one disposable vapes. The Lord Jones is a hemp-derived\ncannabidiol (CBD) brand. Its Lord Jones Hash Fusions are a line-up of premium\nice water hash infused pre-rolls. This brand also offers vapes and edibles.\nIts PEACE NATURALS offer Peppermint CBD, a blend of CBD extract, quality\nmedium-chain triglycerides (MCT) oil, and a hint of natural peppermint flavor.\n\nEmployees\n\n459\n\nSector\n\n[ Pharmaceuticals ](/stock-exchange/sectors/healthcare/pharmaceuticals-\nmedical-\nresearch/?cf=TVFOTUNaNHRzcDc1WlpjTHZYM1ZsK3hOY2FVQUY0RmFtZWQ4b25DQTdZUT0)\n\nCalendar\n\n05-12 [ \\- Q1 2025 Earnings Release (Projected) ](/quote/stock/CRONOS-GROUP-\nINC-54039152/calendar/)\n\n[ More about the company ](/quote/stock/CRONOS-GROUP-INC-54039152/company/)\n\n 1. [ Stock Market ](/)\n 2. [ Equities ](/stock-exchange/shares/)\n 3. [ CRON Stock ](/quote/stock/CRONOS-GROUP-INC-54039152/)\n 4. [ Company Cronos Group Inc. ](/quote/stock/CRONOS-GROUP-INC-54039152/company/)\n 5. Share ownership \n\nBest financial \nportal\n\n+951% of historical \nperformance\n\nMore than 20 years \nat your side\n\n\\+ 1,000,000 \nmembers\n\nQuick & easy \ncancellation\n\nOur Experts \nare here for you\n\n__ __ __ __ __\n\nOUR EXPERTS ARE HERE FOR YOU\n\nMonday - Friday 9am-12pm / 2pm-6pm GMT + 1\n\nContact us\n\n__\n\nLegal information | Cookie settings | [ About us ](/about-us) | Copyright \u00a9 2025 Surperformance SAS. All rights reserved. \n\nStock quotes are provided by Factset, Morningstar and S&P Capital IQ\n\n[ +89%* on our US portfolio vs. 52% on the S&P 500 net Total Return Replicate\nour performance Replicate our performance\n](/services/solutions/?utmzb_campaign=perfs-us_portefeuille++sticky-btn-\nlight_perfs-us_portefeuille+perfs-\nus_portefeuille+&utmzb_content=++++&utmzb_source=sticky-btn-\nlight&utmzb_medium=url_declenchement)\n\n__\n\nS\u00e9lectionnez votre \u00e9dition\n\nToutes les informations financi\u00e8res adapt\u00e9es au niveau national\n\n__\n\nNORTH AMERICA\n\n[ United-States ](//www.marketscreener.com/) [ Canada ](/)\n\nMIDDLE EAST\n\n[ Saudi Arabia ](//sa.marketscreener.com/) [ United Arab Emirates\n](//ae.marketscreener.com/)\n\nEUROPE\n\n[ France ](//www.zonebourse.com/) [ Deutschland ](//de.marketscreener.com/)\n[ Suisse ](//ch.zonebourse.com/) [ Schweiz ](//ch.marketscreener.com/) [\nItalia ](//it.marketscreener.com/) [ \u00d6sterreich ](//at.marketscreener.com/)\n[ Belgi\u00eb ](//be.marketscreener.com/) [ Nederland ](//nl.marketscreener.com/)\n[ Espa\u00f1a ](//es.marketscreener.com/) [ Sverige ](//se.marketscreener.com/) [\nUnited Kingdom ](//uk.marketscreener.com/)\n\nAPAC\n\n[ Australia ](//au.marketscreener.com/) [ India ](//in.marketscreener.com/)\n[ Hong Kong ](//hk.marketscreener.com/)\n\n",
"url": "https://ca.marketscreener.com/quote/stock/CRONOS-GROUP-INC-54039152/company-shareholders/"
},
"reason": "This page provides information on the shareholders of Cronos Group Inc. on MarketScreener, a reputable financial data provider.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Shareholder information for Cronos Group Inc. on MarketScreener",
"url": "https://ca.marketscreener.com/quote/stock/CRONOS-GROUP-INC-54039152/company-shareholders/"
},
{
"content": {
"metadata": {
"ext_id": "c1ef6ceb-3b01-4ae9-b093-f2b8fef01dfe",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://terpenesandtesting.com/cronos-group-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc/"
},
"page_content": "__\n\n[ ](https://terpenesandtesting.com/)\n\nWritten by [ Shared Content\n](https://terpenesandtesting.com/author/sharedcontent/)\n\n_Provides Cronos Group with Additional Capital and Complementary Expertise to\nAccelerate Its Expansion and Innovation in the Rapidly Growing Global Cannabis\nIndustry_\n\nTORONTO, Dec. 7, 2018 /CNW/ \u2013 Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON)\n(\u201cCronos Group\u201d or the \u201cCompany\u201d) today announced that it has entered into a\nsubscription agreement (the \u201cSubscription Agreement\u201d) with Altria Group, Inc.\n(NYSE: MO) (\u201cAltria\u201d) pursuant to which Altria has agreed to make an\napproximately C$2.4 billion equity investment in Cronos Group (the\n\u201cTransaction\u201d) on a private placement basis in exchange for common shares in\nthe capital of the Company (the \u201cShares\u201d). Altria will also receive Warrants\nof Cronos Group (the \u201cWarrants\u201d), that if fully exercised, would provide the\nCompany with an additional approximately C$1.4 billion of proceeds. The Shares\nissuable to Altria pursuant to the Subscription Agreement will result in\nAltria holding an approximately 45% ownership interest in Cronos Group\n(calculated on a non-diluted basis), exercise of the Warrants would result in\nincremental ownership of 10% for a total potential ownership position of 55%.\nThis strategic partnership provides Cronos Group with additional financial\nresources, product development and commercialization capabilities, and deep\nregulatory expertise to better position the Company to compete, scale and lead\nthe rapidly growing global cannabis industry.\n\n\u201cAltria is the ideal partner for Cronos Group, providing the resources and\nexpertise we need to meaningfully accelerate our strategic growth,\u201d said\nCronos Group\u2019s Mike Gorenstein, Chairman, President and Chief Executive\nOfficer. \u201cThe proceeds from Altria\u2019s investment will enable us to more quickly\nexpand our global infrastructure and distribution footprint, while also\nincreasing investments in R&D and brands that resonate with our consumers.\nImportantly, Altria shares our vision of driving long-term value through\ninnovation, and we look forward to continuing to differentiate in this area.\nAs one of the largest holding companies in the adult consumer products sector,\nAltria has decades of experience in regulatory, government affairs,\ncompliance, product development and brand management that we expect to\nleverage, particularly as new markets for cannabis open around the world.\u201d\n\n\u201cInvesting in Cronos Group as our exclusive partner in the emerging global\ncannabis category represents an exciting new growth opportunity for Altria,\u201d\nsaid Howard Willard, Altria\u2019s Chairman and Chief Executive Officer. \u201cWe\nbelieve that Cronos Group\u2019s excellent management team has built capabilities\nnecessary to compete globally, and we look forward to helping Cronos Group\nrealize its significant growth potential.\u201d\n\n**Benefits of the Transaction**\n\n * **Accelerates Cronos Group\u2019s pace of growth and expansion.** The growth opportunities for Cronos Group are significant and extend across the globe as markets open. With Altria\u2019s resources, Cronos Group expects to be even better positioned to support cannabinoid innovation, create differentiated products and brands across medicinal and recreational categories, and expand its global footprint and growing production capacity. \n * **Bolsters Cronos Group\u2019s ability to be an innovation leader in the cannabis industry.** Cronos Group\u2019s research collaborations with Gingko Bioworks to develop cultured cannabinoids and its partnership with the Technion Research and Development Foundation for cannabinoid-based skin care treatments are just two recent examples of how the Cronos Group intends to use innovation and its growing intellectual property portfolio to develop new applications for cannabinoids across a range of products and categories. Altria shares Cronos Group\u2019s commitment to innovation, medical cannabis research and state of the art product development. \n * **Leverages Altria\u2019s product design, manufacturing, marketing and distribution capabilities and expertise.** Cronos Group expects to work with Altria to rapidly expand its product offerings in markets as regulations permit, including device technology. Altria has significant expertise that can serve as building blocks for cannabis vape products. Altria also brings considerable experience with large-scale manufacturing automation, pre-roll technology and supply chain management. In addition, by investing the incremental capital, Cronos Group expects to enhance its attractiveness as a potential partner to other medicinal and consumer focused partners that may work with the Company to further expand its product offerings and distribution capabilities for the benefit of its shareholders. \n * **Provides expertise in successfully navigating complex regulatory landscapes.** Altria has a strong record of managing multi-faceted regulatory, compliance and government affairs environments related to taxation, product registration, shipping and other legal issues that Cronos Group expects to be able to leverage as cannabis markets develop and open around the world. \n * **Raises capital at a premium valuation and delivers even greater upside opportunities for Cronos Group shareholders, employees and partners.** Under the terms of the agreement, Altria has agreed to acquire 146.2 million Shares at a price of C$16.25 per Share. The price per Share represents a 41.5% premium to the Company\u2019s 10-day volume weighted average price (\u201cVWAP\u201d) on the TSX, ending November 30, 2018, the last unaffected trading day prior to when Cronos Group publicly disclosed preliminary discussions with Altria. The strategic investment combined with Altria\u2019s expertise and complementary capabilities are expected to better position Cronos Group for significant growth and value creation with benefits to all of the Company\u2019s stakeholders, including its holders of Shares (the \u201cShareholders\u201d), employees and partners. \n\n**Board Recommendation**\n\nThe Board of Directors of Cronos Group (the \u201cBoard\u201d), after consultation with\nits legal and financial advisors, has unanimously determined that the\nTransaction is in the best interest of Cronos Group and is unanimously\nrecommending that Shareholders vote in favor of the Transaction. The Board has\nreceived an opinion from its financial advisor, Lazard Canada Inc., that as of\nthe date thereof and subject to the assumptions, qualifications and\nlimitations set forth therein, the consideration to be received by the Company\npursuant to the Transaction is fair, from a financial point of view, to the\nCompany.\n\n**Key Transaction Terms**\n\n**_Equity Investment_ **\n\nPursuant to the Subscription Agreement, Altria has agreed to acquire 146.2\nmillion Shares at closing at a price of C$16.25 per Share, which represents a\n41.5% premium to the 10-day VWAP of the Shares on the TSX on November 30,\n2018, the last unaffected trading day prior to when Cronos Group publicly\ndisclosed preliminary discussions with Altria.\n\nAltria will also receive Warrants at closing entitling it to acquire up to an\nadditional 10% ownership position in the Company exercisable from time to\ntime, for a period of four years following closing for an exercise price of\nC$19.00 per Share, which represents an implied premium of 65.5% to the 10-day\nVWAP of the Shares on the TSX on November 30, 2018. Altria\u2019s ownership\ninterest in Cronos Group would be approximately 55% (calculated on a non-\ndiluted basis). Additionally, the Warrants will contain certain anti-dilution\nprovisions.\n\n**_Governance Rights_ **\n\nPursuant to an investor rights agreement to be entered into, at closing (the\n\u201cInvestor Rights Agreement\u201d), Altria will have the right to nominate four\ndirectors, including one independent director, to serve on the Board of\nDirectors of Cronos Group, which will be expanded from five to seven directors\nin connection with the Transaction.\n\n**_Altria\u2019s Exclusive Cannabis Partner_ **\n\nUnder the Investor Rights Agreement, Altria has agreed to make Cronos Group\nits exclusive partner for pursuing cannabis opportunities throughout the world\n(subject to certain limited exceptions.\n\nAt closing, the parties are also expected to enter into commercial support\nagreements under which Altria will provide services relating to marketing and\nbrand management, government affairs, regulatory affairs, and research and\ndevelopment.\n\n**_Closing and Approvals_ **\n\nThe Transaction is expected to close in the first half of 2019, subject to\ncertain customary closing conditions including the receipt of approval from\nthe TSX, and receipt of regulatory approval pursuant to the _Investment Canada\nAct_ . In addition, under applicable TSX rules, the Transaction will require\napproval by at least the majority of the votes cast by Shareholders present at\na special meeting of Shareholders as the Transaction is expected to materially\naffect control of Cronos Group.\n\n**_Additional Information_ **\n\nFurther information regarding the transaction will be included in the\nmanagement information circular to be mailed to Shareholders in connection\nwith the Company\u2019s special meeting of Shareholders to approve the transaction.\nCopies of the Subscription Agreement and the agreements attached thereto as\nexhibits, including the form of Warrant and the form of Investor Rights\nAgreement, will be filed on the Company\u2019s profile on SEDAR at [ www.sedar.com\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj1Dv0kOTDBR75uA624SqEK4-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYeUqIsfuSxoS4Gq5JVyIBJTeVzNVA57ThVCul94GzgkLrNL7jrwzNcgAD-2F3tL-2B9MvXGJmJLAFP6tL-2BFg0T25I6SV1pWKPQTreEkP85U2eh5lS4ogjPOOnKJA-2FTM-2BLcmlqjsuYxx9ski3HtbEY9ISktq)\nand EDGAR at [ www.sec.gov\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj-2Fh0aYGGdr3Ge9-2BmoVUyixo-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYdJklp0GMRWrXXZpjrf27l-2BdDn6J-2FYgB21zvAJJfTywDPuMLj8Dam1OjIyy1Ge0SGn4jqOo3TGWBMOikKnAPppyCyPJSRt7mTNJD8R8JxXaRI63sebGPlK-2FVLSL9-2BNiaN7oP-2Fl3DNAesLzJ4G2WFNxY)\n. The above descriptions of the terms and conditions of the Subscription\nAgreement and the agreements attached thereto as exhibits, including the form\nof Warrant and the form of Investor Rights Agreement, are qualified in their\nentirety by the terms of the Subscription Agreement which will be filed on the\nCompany\u2019s profile on SEDAR at [ www.sedar.com\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj1Dv0kOTDBR75uA624SqEK4-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYcWczWSO3ECk0CdHBvsJGd-2FzOdI3AdRd-2B-2BK6-2B4coKwV3tWn-2F5p075Hj4iCYrFuec6J1QBFmvTpPZXOB9DEaJMh8Gn-2FPYAhAWtGqj3zlrbkwE74WTvB8A0VowSntApsfEfRGzicxoWyTqzL4nsdfQfk9)\nand EDGAR at [ www.sec.gov\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj-2Fh0aYGGdr3Ge9-2BmoVUyixo-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYc4KGIVLxPJQMc24T2uQvUVcLynvGFO-2FSyzJIClp-2F8FhMrCWg6d98CGpsh7REpRYWRrpb5998j-2BRmgqKq6giBWMALv52OShOxbnwzt1sLYcJ7H46TgGugWVn4SNzeqsAjokA02Htxi57PshescDXvph)\n.\n\n**Advisors**\n\nLazard Canada Inc. is serving as financial advisor to Cronos Group, and\nSullivan & Cromwell LLP and Blake, Cassels&Graydon LLP are legal counsel.\n\nPerella Weinberg Partners LP is serving as financial advisor to Altria, and\nWachtell, Lipton, Rosen & Katz and Goodmans LLP are legal counsel. Hunton\nAndrews Kurth LLP is providing legal counsel to Altria regarding the\nfinancing.\n\n**About Cronos**\n\nCronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across five continents. Cronos Group operates two\nwholly-owned Canadian licensed producers: Peace Naturals Project Inc., which\nwas the first non-incumbent medical cannabis license granted by Health Canada,\nand Original BC Ltd., which is based in the Okanagan Valley, British Columbia.\nCronos Group has multiple international production and distribution platforms\nacross five continents. Cronos Group intends to continue to rapidly expand its\nglobal footprint as it focuses on building an international iconic brand\nportfolio and developing disruptive intellectual property. Cronos Group is\ncommitted to building industry leading companies that transform the perception\nof cannabis and responsibly elevate the consumer experience.\n\n**About Altria**\n\nAltria\u2019s wholly-owned subsidiaries include Philip Morris USA Inc., U.S.\nSmokeless Tobacco Company LLC, John Middleton Co., Sherman Group Holdings, LLC\nand its subsidiaries, Nu Mark LLC, Ste. Michelle Wine Estates Ltd. (Ste.\nMichelle) and Philip Morris Capital Corporation. Altria holds an equity\ninvestment in Anheuser-Busch InBev SA/NV (AB InBev).\n\nThe brand portfolios of Altria\u2019s tobacco operating companies include\nMarlboro\u00ae, Black & Mild\u00ae, Copenhagen\u00ae, Skoal\u00ae, VERVE\u00ae, MarkTen\u00ae and Green\nSmoke\u00ae. Ste. Michelle produces and markets premium wines sold under various\nlabels, including Chateau Ste. Michelle\u00ae, Columbia Crest\u00ae, 14 Hands\u00ae and\nStag\u2019s Leap Wine Cellars\u2122, and it imports and markets Antinori\u00ae, Champagne\nNicolas Feuillatte\u2122, Torres\u00ae and Villa Maria Estate\u2122 products in the United\nStates. Trademarks and service marks related to Altria referenced in this\nrelease are the property of Altria or its subsidiaries or are used with\npermission. More information about Altria is available at [ altria.com\n](http://altria.com/) and on the Altria Investor app.\n\nTake a closer look at Altria and its companies on [ altria.com\n](http://altria.com/) .\n\nFollow Altria on Twitter at @AltriaNews.\n\n**Forward-Looking Statements**\n\nThis communication contains \u201cforward-looking information\u201d and \u201cforward-looking\nstatements\u201d within the meaning of applicable securities laws (collectively,\n\u201cforward-looking statements\u201d). All statements contained herein that are not\nclearly historical in nature may constitute forward-looking statements. In\nsome cases, forward-looking statements can be identified by words or phrases\nsuch as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201clikely\u201d, \u201cshould\u201d, \u201cwould\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the\nnegative of these terms, or other similar words, expressions and grammatical\nvariations thereof, or statements that certain events or conditions \u201cmay\u201d or\n\u201cwill\u201d happen, or by discussions of strategy. Forward-looking statements\ninclude estimates, plans, expectations, opinions, forecasts, projections,\ntargets, guidance or other statements that are not statements of historical\nfact. Forward-looking statements are provided for the purposes of assisting\nthe reader in understanding our financial performance, financial position and\ncash flows as at and for periods ended on certain dates and to present\ninformation about management\u2019s current expectations and plans relating to the\nfuture and the reader is cautioned that such information may not be\nappropriate for any other purpose. Some of the forward-looking statements\ncontained in this communication, include, but are not limited to, statements\nwith respect to: the proposed investment by Altria Group in Cronos Group (the\n\u201cproposed transaction\u201d), our business and operations, our strategy for future\ngrowth, expanding our global footprint, including the timing thereof, our\nintention to build an international iconic brand portfolio and develop\ndisruptive intellectual property and our ability to build an industry leading\ncompany that transforms the perception of cannabis and responsibly elevates\nthe consumer experience. No forward-looking statement can be guaranteed and\nCronos Group cannot guarantee the future statements contained herein. Forward-\nlooking statements are based upon certain material assumptions that were\napplied in drawing a conclusion or making a forecast or projection, including\nmanagement\u2019s perceptions of historical trends, current conditions and expected\nfuture developments, as well as other considerations that are believed to be\nappropriate in the circumstances. While we consider these assumptions to be\nreasonable based on information then currently available to management, there\nis no assurance that such expectations will prove to be correct. By their\nnature, forward-looking statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nforward-looking statements in this communication. Such factors include,\nwithout limitation, the ability to complete the proposed transaction between\nCronos Group and Altria Group on anticipated terms and timetable; the ability\nto obtain approval by the shareholders of Cronos Group related to the proposed\ntransaction and the ability to satisfy various other conditions to the closing\nof the transaction contemplated by the subscription agreement; the ability to\nobtain governmental approvals of the proposed transaction on the proposed\nterms and schedule, any conditions imposed on the parties in connection with\nconsummation of the proposed transaction; the risk that the cost savings and\nany other synergies from the proposed transaction may not be fully realized or\nmay take longer to realize than expected; disruption from the proposed\ntransaction making it more difficult to maintain relationships with customers,\nemployees or suppliers; future levels of revenues; consumer demand for\ncannabis products; Cronos Group\u2019s ability to manage disruptions in credit\nmarkets or changes to its credit rating; future levels of capital,\nenvironmental or maintenance expenditures, general and administrative and\nother expenses; the success or timing of completion of ongoing or anticipated\ncapital or maintenance projects; the business strategies, growth opportunities\nand expected investment; the adequacy of our capital resources and liquidity,\nincluding but not limited to, availability of sufficient cash flow to execute\nour business plan (either within the expected timeframe or at all); the\npotential effects of judicial or other proceedings on our business, financial\ncondition, results of operations and cash flows; continued or further\nvolatility in and/or degradation of general economic, market, industry or\nbusiness conditions; compliance with applicable environmental, economic,\nhealth and safety, energy and other policies and regulations; the anticipated\neffects of actions of third parties such as competitors, activist investors or\nfederal (including U.S. federal), state, provincial, territorial or local\nregulatory authorities, self-regulatory organizations or plaintiffs in\nlitigation; and the factors discussed in CronosGroup\u2019s current MD&A and Annual\nInformation Form, both of which have been filed on SEDAR and EDGAR and can be\naccessed at [ www.sedar.com ](http://www.sedar.com/) and [ www.sec.gov\n](http://www.sec.gov/) , respectively. Readers are cautioned to consider these\nand other factors, uncertainties and potential events carefully and not to put\nundue reliance on forward-looking statements. Forward-looking statements\ncontained herein are made as of the date of this communication and are based\non the beliefs, estimates, expectations and opinions of management on the date\nsuch forward-looking statements are made. Cronos Group undertakes no\nobligation to update or revise any forward-looking statements, whether as a\nresult of new information, estimates or opinions, future events or results or\notherwise or to explain any material difference between subsequent actual\nevents and such forward-looking statements, except as required by applicable\nlaw or regulation.\n\nSOURCE Cronos Group Inc.\n\nFacebook Twitter Pinterest LinkedIn\n\n### You may also like\n\n[ ](https://terpenesandtesting.com/cannabis-improves-quality-of-life-of-\npatients-with-chronic-disease-uk-study/ \"Cannabis Improves Quality of Life of\nPatients With Chronic Disease: UK Study\")\n\n[ ](https://terpenesandtesting.com/cannabis-for-joint-surgery-heres-what-a-\nstudy-found/ \"Cannabis For Joint Surgery: Here\u2019s What a Study Found\")\n\n[ ](https://terpenesandtesting.com/cannabis-relieves-tinnitus-related-\nsymptoms-study-finds/ \"Cannabis Relieves Tinnitus-related Symptoms: Study\nFinds\")\n\n[ ](https://terpenesandtesting.com/cannabis-terpene-profiles-matter-new-study-\nreveals/ \"Cannabis Terpene Profiles Matter: New Study Reveals\")\n\n[ ](https://terpenesandtesting.com/cannabis-use-does-not-impair-lung-function-\nstudy-finds/ \"Cannabis Use Does Not Impair Lung Function: Study Finds\")\n\n[ ](https://terpenesandtesting.com/new-study-de-links-cannabis-legalization-\nwith-increased-rates-of-psychosis/ \"New Study De-Links Cannabis Legalization\nWith Increased Rates of Psychosis\")\n\n### About the author\n\n#### Shared Content\n\n[ View all posts ](https://terpenesandtesting.com/author/sharedcontent/)\n\n### Leave a Comment [ X ](/cronos-group-inc-announces-2-4-billion-strategic-\ninvestment-from-altria-group-inc/#respond)\n\nYou must be [ logged in\n](https://terpenesandtesting.com/tnt16/?redirect_to=https%3A%2F%2Fterpenesandtesting.com%2Fcronos-\ngroup-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc%2F)\nto post a comment.\n\n#### Talked About\n\n * [ ](https://terpenesandtesting.com/cannabis-improves-quality-of-life-of-patients-with-chronic-disease-uk-study/ \"Cannabis Improves Quality of Life of Patients With Chronic Disease: UK Study\")\n\n[ Cannabis Improves Quality of Life of Patients With...\n](https://terpenesandtesting.com/cannabis-improves-quality-of-life-of-\npatients-with-chronic-disease-uk-study/ \"Cannabis Improves Quality of Life of\nPatients With Chronic Disease: UK Study\")\n\n * [ ](https://terpenesandtesting.com/raphael-mechoulam-dies-at-92-quotes-to-remember/ \"Raphael Mechoulam Dies at 92: Quotes To Remember\")\n\n[ Raphael Mechoulam Dies at 92: Quotes To Remember\n](https://terpenesandtesting.com/raphael-mechoulam-dies-at-92-quotes-to-\nremember/ \"Raphael Mechoulam Dies at 92: Quotes To Remember\")\n\n * [ ](https://terpenesandtesting.com/cannabis-for-joint-surgery-heres-what-a-study-found/ \"Cannabis For Joint Surgery: Here\u2019s What a Study Found\")\n\n[ Cannabis For Joint Surgery: Here\u2019s What a Study Found\n](https://terpenesandtesting.com/cannabis-for-joint-surgery-heres-what-a-\nstudy-found/ \"Cannabis For Joint Surgery: Here\u2019s What a Study Found\")\n\n * [ ](https://terpenesandtesting.com/researchers-warn-that-daily-cannabis-use-can-cause-heart-disease/ \"Researchers Warn That Daily Cannabis Use Can Cause Heart Disease\")\n\n[ Researchers Warn That Daily Cannabis Use Can Cause...\n](https://terpenesandtesting.com/researchers-warn-that-daily-cannabis-use-can-\ncause-heart-disease/ \"Researchers Warn That Daily Cannabis Use Can Cause Heart\nDisease\")\n\n * [ ](https://terpenesandtesting.com/cannabis-relieves-tinnitus-related-symptoms-study-finds/ \"Cannabis Relieves Tinnitus-related Symptoms: Study Finds\")\n\n[ Cannabis Relieves Tinnitus-related Symptoms: Study...\n](https://terpenesandtesting.com/cannabis-relieves-tinnitus-related-symptoms-\nstudy-finds/ \"Cannabis Relieves Tinnitus-related Symptoms: Study Finds\")\n\n * [ ](https://terpenesandtesting.com/cannabis-terpene-levels-indoor-vs-outdoor-grow/ \"Cannabis Terpene Levels: Indoor Vs Outdoor Grow\")\n\n[ Cannabis Terpene Levels: Indoor Vs Outdoor Grow\n](https://terpenesandtesting.com/cannabis-terpene-levels-indoor-vs-outdoor-\ngrow/ \"Cannabis Terpene Levels: Indoor Vs Outdoor Grow\")\n\n * [ ](https://terpenesandtesting.com/are-magic-mushrooms-legal-in-canada/ \"Are Magic Mushrooms Legal In Canada?\")\n\n[ Are Magic Mushrooms Legal In Canada? ](https://terpenesandtesting.com/are-\nmagic-mushrooms-legal-in-canada/ \"Are Magic Mushrooms Legal In Canada?\")\n\n#### Video of the Week\n\n#### Join Us\n\n * [ instagram ](https://www.instagram.com/terpenesandtestingmagazine/?hl=en \"Instagram\")\n * [ facebook ](https://www.facebook.com/terpenesandtestingmagazine/ \"Facebook\")\n * [ linkedin ](https://www.linkedin.com/company/terpenesandtestingmagazine/ \"Linkedin\")\n\n[ ](https://terpenesandtesting.com/feed/)\n\n[ Privacy Policy ](https://terpenesandtesting.com/privacy-policy/) \\- [ Terms\nof Use ](https://terpenesandtesting.com/terms-of-use/)\n\nCopyright \u00ae2022 - Terpenes and Testing Magazine - All rights reserved. A [\nDeep Medium ](https://deepmedium.com/) Website\n\n[ __ ](javascript:void\\(0\\))\n\n",
"url": "https://terpenesandtesting.com/cronos-group-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc/"
},
"reason": "This article reports on Cronos Group's strategic investment from Altria Group, providing direct and verifiable information.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Inc. Announces $2.4 Billion Strategic Investment from Altria Group Inc.",
"url": "https://terpenesandtesting.com/cronos-group-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc/"
},
{
"content": {
"metadata": {
"ext_id": "9449e8db-601b-4b92-b197-804c1f434d7a",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://thecronosgroup.com/"
},
"page_content": "Skip to content\n\n## A Global \nCannabinoid Company\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae .\n\n[ Explore Brands _arrow_forward_ ](/brands/) Explore Solutions \u2192\n\n# About\n\n## Us\n\n## Mission\n\nBuild brands and create products that enhance experiences\n\n## Vision\n\nTake experiences to new highs\n\n## Values\n\nAt the heart of Cronos are our values. They are the principles that steer our\nactions and define our character. They represent who we are, how we operate,\nand the reputation we aspire to build and maintain within the industry and all\nour stakeholders who help shape it.\n\n## Community\n\nWe believe in building and supporting a fair and equitable industry.\n\n## Fun\n\nWe believe in creating your favorite products through innovation and\nimagination.\n\n## Responsibility\n\nWe believe our products are for adults* (*Adults are those of the legal age of\nconsumption in the relevant jurisdiction).\n\n## Quality\n\nWe believe in elevating industry practices to provide quality products focused\non reliability and transparency.\n\n# The\n\n## Team\n\nOur management team comprises experts in their fields, with a goal to\nestablish the most valuable international cannabis company. They are\npassionate, daring people, driven by quality and integrity, who are determined\nto write history, not read about it.\n\nMike Gorenstein\n\nAnna Shlimak\n\nJeff Jacobson\n\nShannon Buggy\n\nTerry Doucet\n\nArye Weigensberg\n\nAdam Wagner\n\nMike Gorenstein __\n\n# Mike Gorenstein\n\n#### Chairman, President and Chief Executive Officer\n\nMike Gorenstein serves as Cronos Group\u2019s Chairman, President and Chief\nExecutive Officer, he also serves as Chairman of Cronos Group\u2019s Board of\nDirectors. In addition, Mr. Gorenstein is a Co-Founder and passive Member of\nGotham Green Partners. Before joining Cronos, Mike was the Vice President and\nGeneral Counsel at Alphabet Partners, LP, a New York City based multi-strategy\ninvestment management firm, focused on identifying mispriced assets across\nvarious industries, asset classes and geographies. Prior to Alphabet Partners,\nLP, he was a corporate attorney at Sullivan & Cromwell LLP, where he focused\non mergers and acquisitions and capital markets transactions. Mike graduated\nfrom the University of Pennsylvania Law School with a Juris Doctor, the\nWharton School at University of Pennsylvania with a certificate in Business\nEconomics and Public Policy and the Kelley School of Business at Indiana\nUniversity with a Bachelor of Science of Business in Finance.\n\nAnna Shlimak __\n\n# Anna Shlimak\n\n#### Chief Financial Officer\n\nAnna serves as Cronos\u2019 Chief Financial Officer. Anna recently served as the\nCompany\u2019s Chief Strategy Officer and was responsible for managing and\ndirecting the organization\u2019s corporate strategy, investor relations,\ncommunications, government affairs, and information systems departments. Prior\nto joining Cronos, Anna was the Head of Investor Relations at Quest Partners\nLLC, a research-driven alternative investment firm. Anna was responsible for\nbusiness development, investor reporting, marketing, and communication\ninitiatives for the fund. Before that, Anna held a range of roles at the New\nYork Stock Exchange in both the New York and London offices. She received a\nMaster of Business Administration from Columbia Business School and holds a\nBachelor of Science in Economics from The Wharton School at the University of\nPennsylvania.\n\nJeff Jacobson __\n\n# Jeff Jacobson\n\n#### Chief Growth Officer\n\nAs Chief Growth Officer, Jeff leads the Marketing, Innovation, Operations and\nSales team in North America as well as the Consumer Insights and Data\nAnalytics teams for Cronos Group\u2019s global business. Jeff sets the strategy for\nour brands and is responsible for leading our global teams to help execute\nCronos Group\u2019s vision. Jeff previously served as Cronos Group\u2019s General\nManager of Canada and Europe. Before joining Cronos Group, Jeff founded a\nToronto based marketing agency and successfully launched and licensed several\ninnovative software products in the mobile industry. As a co-founder of Peace\nNaturals, Jeff\u2019s expertise and experience in licensing and compliance, new\nbusiness development, project management and resource management help Cronos\nGroup lead in a variety of markets.\n\nShannon Buggy __\n\n# Shannon Buggy\n\n#### Senior Vice President, Global Head of People\n\nShannon serves as the SVP, Global Head of People for Cronos Group where she\nleads HR strategy across the Company\u2019s global operations. Prior to Cronos\nGroup, Shannon was the Senior Vice President of Global Human Resources for\nNielsen where she led HR strategy for Nielsen Media. With over 25 years of\nexperience, Shannon has a proven track record of leading and managing global\nhuman resources teams and driving excellence in talent acquisition,\ndevelopment, retention, employee relations, compensation, benefits, talent\nmanagement and labor relations. Shannon holds a certification as a Senior\nProfessional in Human Resources from the HR Certification Institute. She\ngraduated magna cum laude with a Bachelor of Science degree in Human Resources\nManagement from the Pace University, Lubin School of Business.\n\nTerry Doucet __\n\n# Terry Doucet\n\n#### General Counsel and Corporate Secretary\n\nTerry Doucet serves as Cronos Group\u2019s General Counsel and Corporate Secretary.\nIn this capacity, he manages all legal and regulatory affairs at Cronos Group\nand also serves as the Company\u2019s Corporate Secretary. Prior to joining Cronos,\nTerry was a corporate lawyer at Davies Ward Phillips & Vineberg LLP in\nToronto, where he focused primarily on M&A in large, complex and cross-border\ntransactions across numerous industries, as well as securities, corporate\nfinance and lending transactions. During that time, Terry was also seconded to\nRBC Capital Markets, where he supported the bank\u2019s derivative trading desks.\nTerry is an Ontario-qualified lawyer, holding a Juris Doctor from the\nUniversity of Toronto and a joint honours (first class) Bachelor of Arts\ndegree from McGill University in Montreal.\n\nArye Weigensberg __\n\n# Arye Weigensberg\n\n#### Head of Research and Development\n\nAs Head of Research and Development, Arye is responsible for leading Cronos\u2019\ninnovation program, where he oversees research and technology functions, and\nleads scientific efforts to unlock the potential of rare cannabinoids. Before\njoining Cronos, Arye was the CEO of Altria Israel Ltd, an Altria research and\ndevelopment innovation hub. Arye joined Altria as part of its acquisition of\nGreen Smoke, where he was the Director of Marketing and Brand Management.\nPrior to Green Smoke, Arye held a variety of roles in brand management and\nmarketing, supporting food brands such as Manischewitz, Lawry\u2019s, Ragu, Knorr\nand Country Crock. Arye graduated from Concordia University\u2019s John Molson\nSchool of Business with a Bachelor of Commerce in Marketing and International\nBusiness.\n\nAdam Wagner __\n\n# Adam Wagner\n\n#### SVP, Head of Cronos Israel\n\nAdam Wagner serves as Senior Vice President, Head of Cronos Israel. Adam\noversees the business and strategy of Cronos Israel. Before he was appointed\nas Head of Cronos Israel, he was the VP of Finance at Cronos Israel where he\noversaw the regional Israel finance department, including FP&A,\ncontrollership, audit, treasury, tax, as well as IT, supply chain and\nprocurement . Before joining Cronos, Adam worked as a Director of Finance at\nMotus GI, a publicly traded medical device company, where he oversaw the\nIsrael-based finance department. Before that, Adam was a Finance Manager at\nMedtronic, a publicly traded medical equipment manufacturer, where he oversaw\nthe Israel-based finance department functions. Prior to Medtronic\u2019s\nacquisition, he was the Corporate Controller for Mazor Robotics, a dual-listed\npublic medical device company. Adam began his career as a Senior Auditor at EY\nwhere he managed a team that performed audits for various publicly traded and\nprivate companies. Adam also serves as a Finance expert on an advisory board\nfor a wellness and healthcare start-up. Adam is a CPA (Israel) and studied\nAccounting at Bar-Ilan University. Adam also holds a Bachelor\u2019s Degree in\nScience of Nutrition and his Master of Science in Genetics and Biochemistry\nfrom Tel Aviv University.\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\n[ Facebook ](https://www.facebook.com/cronosgroupoffical) [ X-twitter\n](https://twitter.com/cronosgroup) [ Linkedin\n](https://www.linkedin.com/company/cronos-group-cron/?viewAsMember=true)\n\n\u00a9 2024 The Cronos Group. All rights reserved.\n\nFacebook X-twitter Linkedin\n\n",
"url": "https://thecronosgroup.com/"
},
"reason": "This is the official website of The Cronos Group, providing direct and verifiable information about the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Official website of The Cronos Group",
"url": "https://thecronosgroup.com/"
},
{
"content": {
"metadata": {
"ext_id": "fa41ab05-13fd-4ed1-ba0f-b2ea8c38c1cb",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://finance.yahoo.com/news/individual-investors-own-40-cronos-120806284.html"
},
"page_content": "Oops, something went wrong\n\nUnlock stock picks and a broker-level newsfeed that powers Wall Street.\n\n[ ](https://simplywall.st/ \"Simply Wall St.\")\n\nIndividual investors own 40% of Cronos Group Inc. (TSE:CRON) shares but public\ncompanies control 41% of the company\n\neditorial-team@simplywallst.com (Simply Wall St)\n\nThu, Jul 18, 2024, 5:08 AM 4 min read\n\n## In This Article:\n\n[ CRON +1.13% ](/quote/CRON/ \"CRON\")\n\n### Key Insights\n\n * The considerable ownership by public companies in Cronos Group indicates that they collectively have a greater say in management and business strategy \n\n * 50% of the business is held by the top 5 shareholders \n\n * [ Institutions own 13% of Cronos Group ](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-ADD2-8E319554B2FA/ownership?blueprint=3181267&utm_medium=finance_user&utm_campaign=cta&utm_source=yahoo)\n\nEvery investor in Cronos Group Inc. ( [ TSE:CRON\n](https://au.finance.yahoo.com/quote/CRON.TO) ) should be aware of the most\npowerful shareholder groups. With 41% stake, public companies possess the\nmaximum shares in the company. In other words, the group stands to gain the\nmost (or lose the most) from their investment into the company.\n\nAnd individual investors on the other hand have a 40% ownership in the\ncompany.\n\nLet's take a closer look to see what the different types of shareholders can\ntell us about Cronos Group.\n\n[ View our latest analysis for Cronos Group\n](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-\nADD2-8E319554B2FA?blueprint=3181267&utm_medium=finance_user&utm_campaign=cta&utm_source=yahoo)\n\n[ ](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-\nADD2-8E319554B2FA/ownership?blueprint=3181267&utm_medium=finance_user&utm_campaign=infographic&utm_source=yahoo)\n\nTSX:CRON Ownership Breakdown July 18th 2024\n\n## What Does The Institutional Ownership Tell Us About Cronos Group?\n\nInstitutions typically measure themselves against a benchmark when reporting\nto their own investors, so they often become more enthusiastic about a stock\nonce it's included in a major index. We would expect most companies to have\nsome institutions on the register, especially if they are growing.\n\nAs you can see, institutional investors have a fair amount of stake in Cronos\nGroup. This suggests some credibility amongst professional investors. But we\ncan't rely on that fact alone since institutions make bad investments\nsometimes, just like everyone does. If multiple institutions change their view\non a stock at the same time, you could see the share price drop fast. It's\ntherefore worth looking at Cronos Group's earnings history below. Of course,\nthe future is what really matters.\n\n[ ](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-\nADD2-8E319554B2FA/future?blueprint=3181267&utm_medium=finance_user&utm_campaign=infographic&utm_source=yahoo)\n\nTSX:CRON Earnings and Revenue Growth July 18th 2024\n\nCronos Group is not owned by hedge funds. The company's largest shareholder is\nAltria Group, Inc., with ownership of 41%. For context, the second largest\nshareholder holds about 2.9% of the shares outstanding, followed by an\nownership of 2.6% by the third-largest shareholder. Two of the top three\nshareholders happen to be Chief Executive Officer and Member of the Board of\nDirectors, respectively. That is, insiders feature higher up in the heirarchy\nof the company's top shareholders.\n\nOur research also brought to light the fact that roughly 50% of the company is\ncontrolled by the top 5 shareholders suggesting that these owners wield\nsignificant influence on the business.\n\nWhile studying institutional ownership for a company can add value to your\nresearch, it is also a good practice to research analyst recommendations to\nget a deeper understand of a stock's expected performance. There are plenty of\nanalysts covering the stock, so it might be worth seeing what they are\nforecasting, too.\n\n## Insider Ownership Of Cronos Group\n\nWhile the precise definition of an insider can be subjective, almost everyone\nconsiders board members to be insiders. Management ultimately answers to the\nboard. However, it is not uncommon for managers to be executive board members,\nespecially if they are a founder or the CEO.\n\nI generally consider insider ownership to be a good thing. However, on some\noccasions it makes it more difficult for other shareholders to hold the board\naccountable for decisions.\n\nOur most recent data indicates that insiders own some shares in Cronos Group\nInc.. As individuals, the insiders collectively own CA$73m worth of the\nCA$1.3b company. This shows at least some alignment. You can [ click here to\nsee if those insiders have been buying or selling.\n](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-\nADD2-8E319554B2FA/ownership?blueprint=3181267&utm_medium=finance_user&utm_campaign=integrated-\npitch&utm_source=yahoo)\n\n## General Public Ownership\n\nThe general public, who are usually individual investors, hold a 40% stake in\nCronos Group. While this size of ownership may not be enough to sway a policy\ndecision in their favour, they can still make a collective impact on company\npolicies.\n\n## Public Company Ownership\n\nIt appears to us that public companies own 41% of Cronos Group. It's hard to\nsay for sure but this suggests they have entwined business interests. This\nmight be a strategic stake, so it's worth watching this space for changes in\nownership.\n\n## Next Steps:\n\nIt's always worth thinking about the different groups who own shares in a\ncompany. But to understand Cronos Group better, we need to consider many other\nfactors.\n\n**Many find it useful** to take an in depth look at how a company has\nperformed in the past. You can access [ this **detailed graph** of past\nearnings, revenue and cash flow\n](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-\nADD2-8E319554B2FA/past?blueprint=3181267&utm_medium=finance_user&utm_campaign=conclusion&utm_source=yahoo)\n.\n\nBut ultimately **it is the future** , not the past, that will determine how\nwell the owners of this business will do. Therefore we think it advisable to\ntake a look at [ this free report showing whether analysts are predicting a\nbrighter future ](https://simplywall.st/company/id/49C2CCA9-F26C-48FC-\nADD2-8E319554B2FA/future?blueprint=3181267&utm_medium=finance_user&utm_campaign=conclusion&utm_source=yahoo)\n.\n\nNB: Figures in this article are calculated using data from the last twelve\nmonths, which refer to the 12-month period ending on the last date of the\nmonth the financial statement is dated. This may not be consistent with full\nyear annual report figures.\n\n**Have feedback on this article? Concerned about the content?** **Get in\ntouch** **with us directly.** _Alternatively, email editorial-team (at)\nsimplywallst.com._ \n \n_This article by Simply Wall St is general in nature.**We provide commentary\nbased on historical data and analyst forecasts only using an unbiased\nmethodology and our articles are not intended to be financial advice.** It\ndoes not constitute a recommendation to buy or sell any stock, and does not\ntake account of your objectives, or your financial situation. We aim to bring\nyou long-term focused analysis driven by fundamental data. Note that our\nanalysis may not factor in the latest price-sensitive company announcements or\nqualitative material. Simply Wall St has no position in any stocks mentioned.\n_\n\n**Have feedback on this article? Concerned about the content?[ Get in touch\n](https://feedback.simplywall.st/article/MzE4MTI2NzpkYmJjYjU2N2U1NWRlZDBl)\nwith us directly. ** _Alternatively, email[ editorial-team@simplywallst.com\n](mailto:editorial-\nteam@simplywallst.com?subject=Re%3A%20Your%20article%20on%20TSX%3ACRON%20\\(yahoo\\)%20from%2018th%20July%202024)\n_\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n[ ](/)\n\nCopyright \u00a9 2025 Yahoo. All rights reserved.\n\n[ ](https://twitter.com/YahooFinance \"Follow on Twitter\") [\n](https://facebook.com/yahoofinance \"Follow on Facebook\") [\n](https://www.linkedin.com/company/yahoo-finance \"Follow on LinkedIn\")\n\nPOPULAR QUOTES\n\n[ Dow Jones ](https://finance.yahoo.com/quote/%5EDJI/) [ S&P 500\n](https://finance.yahoo.com/quote/SPY/) [ DAX Index\n](https://finance.yahoo.com/quote/%5EGDAXI/) [ Nvidia\n](https://finance.yahoo.com/quote/NVDA/) [ Tesla\n](https://finance.yahoo.com/quote/TSLA/) [ DJT\n](https://finance.yahoo.com/quote/DJT/) [ Tariffs\n](https://finance.yahoo.com/topic/tariffs/)\n\nEXPLORE MORE\n\n[ Mortgages ](https://finance.yahoo.com/personal-finance/mortgages/) [ Credit\nCards ](https://finance.yahoo.com/personal-finance/credit-cards/) [ Sectors\n](https://finance.yahoo.com/sectors/) [ Crypto Heatmap\n](https://finance.yahoo.com/crypto/heatmap/) [ Financial News\n](https://finance.yahoo.com/news/)\n\nABOUT\n\n[ Data Disclaimer ](https://help.yahoo.com/kb/finance-for-\nweb/SLN2310.html?locale=en_US) [ Help ](https://help.yahoo.com/kb/finance-for-\nweb) [ Feedback ](https://yahoo.uservoice.com/forums/952723-finance-b3) [\nSitemap ](https://finance.yahoo.com/sitemap/) [ Licensing\n](https://info.wrightsmedia.com/yahoo-finance-licensing) [ What's New\n](https://finance.yahoo.com/about/whatsnew/) [ About Our Ads\n](https://policies.oath.com/us/en/oath/privacy/adinfo/index.html) [ Premium\nPlans ](/about/plans/)\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n",
"url": "https://finance.yahoo.com/news/individual-investors-own-40-cronos-120806284.html"
},
"reason": "This article discusses the ownership of Cronos Group by individual investors, providing financial information directly related to the company.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Individual investors own 40% of Cronos",
"url": "https://finance.yahoo.com/news/individual-investors-own-40-cronos-120806284.html"
},
{
"content": {
"metadata": {
"ext_id": "20cebbbd-e906-408d-b8e2-27e99475446a",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://investor.altria.com/press-releases/news-details/2022/Altria-Abandons-Expiring-Cronos-Warrant-Maintains-Initial-Investment/default.aspx"
},
"page_content": "Skip to main content\n\n",
"url": "https://investor.altria.com/press-releases/news-details/2022/Altria-Abandons-Expiring-Cronos-Warrant-Maintains-Initial-Investment/default.aspx"
},
"reason": "This is a press release from Altria regarding their Cronos warrant, providing direct and verifiable information about the company's investment.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Altria Abandons Expiring Cronos Warrant, Maintains Initial Investment",
"url": "https://investor.altria.com/press-releases/news-details/2022/Altria-Abandons-Expiring-Cronos-Warrant-Maintains-Initial-Investment/default.aspx"
},
{
"content": {
"metadata": {
"ext_id": "f07d5c28-b2af-4a21-ab8f-ae2464f90390",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://fintel.io/so/us/cron"
},
"page_content": "# CRON - Cronos Group Inc. Stock - Stock Price, Institutional Ownership,\nShareholders (NasdaqGM)\n\nCronos Group Inc.\n\nNasdaqGM\n\n \n\n \nEXTENDED HOURS\n\n##### Basic Stats\n\nInstitutional Owners | 222 total, 211 long only, 0 short only, 11 long/short \\- change of 0.91% MRQ \n---|--- \nAverage Portfolio Allocation | 0.1211 % \\- change of 30.54% MRQ \nShares Outstanding | [ ](/checkout \"Click to Unlock\") shares (source: Capital IQ) \n \nInstitutional Shares (Long) | 52,661,563 \\- 13.77% (ex 13D/G) \\- change of 1.95MM shares 3.85% MRQ \n---|--- \nInstitutional Value (Long) | $ 104,271 USD ($1000) \n \n##### Institutional Ownership and Shareholders\n\nCronos Group Inc. (US:CRON) has 222 institutional owners and shareholders that\nhave filed 13D/G or 13F forms with the Securities Exchange Commission (SEC).\nThese institutions hold a total of 52,661,563 shares. Largest shareholders\ninclude Chescapmanager LLC, Vanguard Group Inc, Amplify ETF Trust - Amplify\nAlternative Harvest ETF, Toroso Investments, LLC, Dimensional Fund Advisors\nLp, VGTSX - Vanguard Total International Stock Index Fund Investor Shares,\nMMCAP International Inc. SPC, VTMGX - Vanguard Developed Markets Index Fund\nAdmiral Shares, Cannell Capital Llc, and Parallax Volatility Advisers, L.P. .\n\nCronos Group Inc. (NasdaqGM:CRON) institutional ownership structure shows\ncurrent positions in the company by institutions and funds, as well as latest\nchanges in position size. Major shareholders can include individual investors,\nmutual funds, hedge funds, or institutions. The Schedule 13D indicates that\nthe investor holds (or held) more than 5% of the company and intends (or\nintended) to actively pursue a change in business strategy. Schedule 13G\nindicates a passive investment of over 5%.\n\nThe share price as of April 23, 2025 is 1.80 / share. Previously, on April 24,\n2024, the share price was 2.48 / share. This represents a decline of 27.42%\nover that period.\n\n[ ](https://images.fintel.io/us-cron-so.png)\n\n##### Fund Sentiment Score\n\nThe Fund Sentiment Score (fka Ownership Accumulation Score) finds the stocks\nthat are being most bought by funds. It is the result of a sophisticated,\nmulti-factor quantitative model that identifies companies with the highest\nlevels of institutional accumulation. The scoring model uses a combination of\nthe total increase in disclosed owners, the changes in portfolio allocations\nin those owners and other metrics. The number ranges from 0 to 100, with\nhigher numbers indicating a higher level of accumulation to its peers, and 50\nbeing the average.\n\nUpdate Frequency: Daily\n\n[ See Ownership Explorer, which provides a list of highest-ranking companies.\n](/ownershipExplorer)\n\n[ _Subscription Required_ ](/checkout)\n\n[ See Highest Ranking Stocks ](/ownershipExplorer)\n\n##### Institutional Put/Call Ratio\n\nIn addition to reporting standard equity and debt issues, institutions with\nmore than 100MM assets under management must also disclose their put and call\noption holdings. Since put options generally indicate negative sentiment, and\ncall options indicate positive sentiment, we can get a sense of the overall\ninstitutional sentiment by plotting the ratio of puts to calls. The chart to\nthe right plots the historical put/call ratio for this instrument.\n\nUsing Put/Call Ratio as an indicator of investor sentiment overcomes one of\nthe key deficiencies of using total institutional ownership, which is that a\nsignificant amount of assets under management are invested passively to track\nindices. Passively-managed funds do not typically buy options, so the put/call\nratio indicator more closely tracks the sentiment of actively-managed funds.\n\n[ ](https://images.fintel.io/us-cron-put-call-ratio.png)\n\n##### 13D/G Filings\n\nWe present 13D/G filings separately from the 13F filings because of the\ndifferent treatement by the SEC. 13D/G filings can be filed by groups of\ninvestors (with one leading), whereas 13F filings cannot. This results in\nsituations where an investor may file a 13D/G reporting one value for the\ntotal shares (representing all the shares owned by the investor group), but\nthen file a 13F reporting a different value for the total shares (representing\nstrictly their own ownership). This means that share ownership of 13D/G\nfilings and 13F filings are oftentimes not directly comparable, so we present\nthem separately.\n\nNote: As of May 16, 2021, we no longer show owners that have not filed a 13D/G\nwithin the last year. Previously, we were showing the full history of 13D/G\nfilings. In general, entities that are required to file 13D/G filings must\nfile at least annually before submitting a closing filing. However, funds\nsometimes exit positions without submitting a closing filing (ie, they wind\ndown), so displaying the full history sometimes resulted in confusion about\nthe current ownership. To prevent confusion, we now only show \u2019current\u2019 owners\n- that is - owners that have filed within the last year.\n\n[ Upgrade ](/checkout) to unlock premium data.\n\nFile Date | Form | Investor | | Prev \nShares | Latest \nShares | \u0394 Shares \n(Percent) | Ownership \n(Percent) | \u0394 Ownership \n(Percent) \n---|---|---|---|---|---|---|---|--- \n2024-04-25 | [ 13D/A ](/doc/sec/1656472/000119312524114508/d783044dsc13da.htm) | [ ALTRIA GROUP, INC. ](/i/altria-group) | | 156,573,537 | 156,573,537 | 0.00 | 41.00 | 0.00 \n \n##### 13F and NPORT Filings\n\nDetail on 13F filings are free. Detail on NP filings require a premium\nmembership. Green rows indicate new positions. Red rows indicate closed\npositions. Click the link icon to see the full transaction history.\n\n[ Upgrade ](/checkout) to unlock premium data and export to Excel .\n\nFile Date | Source | Investor | | Type | Avg Price \n(Est) | Shares | \u0394 Shares \n(%) | Reported \nValue \n($1000) | \u0394 Value \n(%) | Port Alloc \n(%) \n---|---|---|---|---|---|---|---|---|---|--- \n2025-02-10 | 13F | [ Hartland & Co., LLC ](/i/hartland-co-) | | | [ ](/checkout \"Click to Unlock\") | 200 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-11 | 13F | [ Piscataqua Savings Bank ](/i/piscataqua-savings-bank) | | | [ ](/checkout \"Click to Unlock\") | 1,330 | 0.00 | 2 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Mowery & Schoenfeld Wealth Management, LLC ](/i/mowery-schoenfeld-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 20 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-27 | NP | [ YOLO - AdvisorShares Pure Cannabis ETF ](/i/advisorshares-trust-advisorshares-pure-cannabis-etf) | | | [ ](/checkout \"Click to Unlock\") | 674,528 | -2.33 | 1,363 | -9.92 | [ ](/checkout \"Click to Unlock\") \n2025-01-27 | 13F | [ Caitlin John, LLC ](/i/caitlin-john-llc) | | | [ ](/checkout \"Click to Unlock\") | 33 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Commonwealth Equity Services, Llc ](/i/commonwealth-equity-services-llc) | | | [ ](/checkout \"Click to Unlock\") | 82,575 | -3.58 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-18 | 13F | [ Gts Securities Llc ](/i/gts-securities-llc) | | Put | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Jpmorgan Chase & Co ](/i/jpmorgan-chase-) | | | [ ](/checkout \"Click to Unlock\") | 3,633 | 5.83 | 7 | -73.08 | [ ](/checkout \"Click to Unlock\") \n2025-02-20 | 13F | [ Revisor Wealth Management LLC ](/i/revisor-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Tucker Asset Management Llc ](/i/tucker-asset-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 500 | 0.00 | 1 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-14 | 13F | [ PEAK6 Investments LLC ](/i/peak6-investments1) | | Call | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ Farther Finance Advisors, LLC ](/i/farther-finance-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-01-30 | 13F | [ Vontobel Holding Ltd. ](/i/vontobel-holding-ltd) | | | [ ](/checkout \"Click to Unlock\") | 14,000 | -93.74 | 28 | -94.33 | [ ](/checkout \"Click to Unlock\") \n2025-02-24 | NP | [ AFMCX - Acuitas US Microcap Fund Institutional Shares ](/i/forum-funds-ii-acuitas-us-microcap-fund-institutional-shares) | | | [ ](/checkout \"Click to Unlock\") | 50,798 | -7.84 | 103 | -15.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ CoreCap Advisors, LLC ](/i/corecap-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 300 | 0.00 | 1 | | [ ](/checkout \"Click to Unlock\") \n2024-10-28 | 13F | [ Us Bancorp \\de\\ ](/i/us-bancorp-de-) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-01-28 | 13F | [ Archer Investment Corp ](/i/archer-investment-corp) | | | [ ](/checkout \"Click to Unlock\") | 108 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ RPg Family Wealth Advisory, LLC ](/i/rpg-family-wealth-advisory-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ Marathon Trading Investment Management LLC ](/i/marathon-trading-investment-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 58,000 | 0.00 | 117 | -7.87 | [ ](/checkout \"Click to Unlock\") \n2025-01-10 | 13F/A | [ Nomura Asset Management Co Ltd ](/i/nomura-asset-management) | | | [ ](/checkout \"Click to Unlock\") | 0 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ LPL Financial LLC ](/i/lpl-financial-llc) | | | [ ](/checkout \"Click to Unlock\") | 81,827 | 3.27 | 165 | -4.62 | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ Pnc Financial Services Group, Inc. ](/i/pnc-financial-services-group) | | | [ ](/checkout \"Click to Unlock\") | 200 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-22 | 13F | [ Crews Bank & Trust ](/i/crews-bank-trust-2820) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Walleye Trading LLC ](/i/walleye-trading-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 360,000 | 0.00 | 727 | -7.74 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Walleye Trading LLC ](/i/walleye-trading-llc) | | | [ ](/checkout \"Click to Unlock\") | 73,654 | -31.91 | 149 | -37.29 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Walleye Trading LLC ](/i/walleye-trading-llc) | | Put | [ ](/checkout \"Click to Unlock\") | 200,000 | -60.00 | 404 | -63.11 | [ ](/checkout \"Click to Unlock\") \n2025-04-10 | 13F | [ Sendero Wealth Management, LLC ](/i/sendero-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 11,500 | | 21 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Cedar Wealth Management, LLC ](/i/cedar-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 37,935 | 0.00 | 77 | -8.43 | [ ](/checkout \"Click to Unlock\") \n2024-11-14 | 13F | [ Winning Points Advisors, LLC ](/i/winning-points-advisors) | | | [ ](/checkout \"Click to Unlock\") | 11,698 | -24.27 | 24 | -28.12 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Millennium Management Llc ](/i/millennium-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 840,374 | 23.73 | 1,698 | 13.97 | [ ](/checkout \"Click to Unlock\") \n2025-04-17 | 13F | [ Sound Income Strategies, LLC ](/i/sound-income-strategies) | | | [ ](/checkout \"Click to Unlock\") | 170 | 13.33 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Old Mission Capital Llc ](/i/old-mission-capital-llc) | | | [ ](/checkout \"Click to Unlock\") | 76,966 | -17.16 | 155 | -23.65 | [ ](/checkout \"Click to Unlock\") \n2025-02-18 | 13F | [ Sunbelt Securities, Inc. ](/i/sunbelt-securities) | | | [ ](/checkout \"Click to Unlock\") | 168,520 | -6.53 | 329 | -16.75 | [ ](/checkout \"Click to Unlock\") \n2024-11-12 | 13F | [ Hillsdale Investment Management Inc. ](/i/hillsdale-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Intact Investment Management Inc. ](/i/intact-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-22 | 13F | [ Cambridge Investment Research Advisors, Inc. ](/i/cambridge-investment-research-advisors) | | | [ ](/checkout \"Click to Unlock\") | 25,858 | -10.92 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-01-22 | 13F | [ Ronald Blue Trust, Inc. ](/i/ronald-blue-trust-inc) | | | [ ](/checkout \"Click to Unlock\") | 4,141 | 45.55 | 9 | 50.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Quantbot Technologies LP ](/i/quantbot-technologies-lp) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-04 | 13F | [ NCP Inc. ](/i/ncp-inc7337) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Criterion Capital Advisors, Llc ](/i/criterion-capital-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 60 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Measured Risk Portfolios, Inc. ](/i/measured-risk-portfolios-inc-4981) | | | [ ](/checkout \"Click to Unlock\") | 170 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Hrt Financial Lp ](/i/hrt-financial-llc) | | | [ ](/checkout \"Click to Unlock\") | 58,841 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Qube Research & Technologies Ltd ](/i/qube-research-technologies) | | | [ ](/checkout \"Click to Unlock\") | 511,449 | -2.20 | 1,033 | -9.78 | [ ](/checkout \"Click to Unlock\") \n2025-01-28 | NP | [ JISAX - International Small Company Fund Class NAV ](/i/john-hancock-funds-ii-international-small-company-fund-class-nav) | | | [ ](/checkout \"Click to Unlock\") | 38,782 | 0.00 | 81 | -8.05 | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F | [ Alpine Bank Wealth Management ](/i/alpine-bank-wealth-management2294) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Tidemark, LLC ](/i/tidemark-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ MAI Capital Management ](/i/mai-capital-management) | | | [ ](/checkout \"Click to Unlock\") | 3,185 | -72.74 | 6 | -76.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-03 | 13F | [ Thompson Davis & Co., Inc. ](/i/thompson-davis) | | | [ ](/checkout \"Click to Unlock\") | 13,200 | | 29 | | [ ](/checkout \"Click to Unlock\") \n2024-11-12 | 13F | [ Cypress Capital, LLC ](/i/cypress-capital1) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-27 | NP | [ GWX - SPDR(R) S&P(R) International Small Cap ETF ](/i/spdr-index-shares-funds-formerly-streettracks-index-shares-funds-spdr-r-s-p-r-international-small-cap-etf) This fund is a listed as child fund of State Street Corp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 87,806 | -1.00 | 176 | -10.20 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Founders Financial Securities Llc ](/i/founders-financial-securities-llc) | | | [ ](/checkout \"Click to Unlock\") | 12,000 | -38.46 | 24 | -42.86 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Prelude Capital Management, Llc ](/i/springbok-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 223,019 | 532.23 | 450 | 484.42 | [ ](/checkout \"Click to Unlock\") \n2025-02-05 | 13F | [ Smartleaf Asset Management LLC ](/i/smartleaf-asset-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 3,436 | 0.00 | 7 | -14.29 | [ ](/checkout \"Click to Unlock\") \n2025-02-27 | NP | [ SPGM - SPDR(R) Portfolio MSCI Global Stock Market ETF ](/i/spdr-index-shares-funds-formerly-streettracks-index-shares-funds-spdr-r-portfolio-msci-global-stock-market-etf) This fund is a listed as child fund of State Street Corp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 2,078 | -2.26 | 4 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-06 | 13F | [ Planning Capital Management Corp ](/i/planning-capital-management-corp) | | | [ ](/checkout \"Click to Unlock\") | 1,500 | 0.00 | 3 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-03-26 | NP | [ DFIEX - International Core Equity Portfolio - Institutional Class ](/i/dfa-investment-dimensions-group-inc-international-core-equity-portfolio-institutional-class) This fund is a listed as child fund of Dimensional Fund Advisors Lp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 8,403 | 0.00 | 16 | -11.76 | [ ](/checkout \"Click to Unlock\") \n2025-01-31 | 13F | [ HighMark Wealth Management LLC ](/i/highmark-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Winton Capital Group Ltd ](/i/winton-capital-group) | | | [ ](/checkout \"Click to Unlock\") | 288,990 | 106.48 | 584 | 90.52 | [ ](/checkout \"Click to Unlock\") \n2025-02-18 | 13F | [ Gts Securities Llc ](/i/gts-securities-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Sfmg, Llc ](/i/sfmg-llc) | | | [ ](/checkout \"Click to Unlock\") | 17,622 | 0.00 | 36 | -7.89 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Cetera Investment Advisers ](/i/cetera-investment-advisers) | | | [ ](/checkout \"Click to Unlock\") | 23,392 | -46.97 | 47 | -51.04 | [ ](/checkout \"Click to Unlock\") \n2024-10-28 | 13F | [ Creative Financial Designs Inc /adv ](/i/creative-financial-designs) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ GWM Advisors LLC ](/i/goss-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 760 | -36.72 | 2 | -50.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-18 | 13F | [ Gts Securities Llc ](/i/gts-securities-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-13 | 13F | [ Mackenzie Financial Corp ](/i/mackenzie-financial) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ IMC-Chicago, LLC ](/i/imc-chicago) | | Call | [ ](/checkout \"Click to Unlock\") | 217,500 | 5.17 | 394 | -5.76 | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ IMC-Chicago, LLC ](/i/imc-chicago) | | Put | [ ](/checkout \"Click to Unlock\") | 167,400 | -34.86 | 303 | -41.81 | [ ](/checkout \"Click to Unlock\") \n2025-02-25 | NP | [ CNBS - Amplify Seymour Cannabis ETF ](/i/amplify-etf-trust-amplify-seymour-cannabis-etf) | | | [ ](/checkout \"Click to Unlock\") | 507,917 | 0.00 | 1,026 | -7.82 | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ IMC-Chicago, LLC ](/i/imc-chicago) | | | [ ](/checkout \"Click to Unlock\") | 133,658 | 2.98 | 242 | -8.02 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Hollencrest Capital Management ](/i/hollencrest-securities-llc) | | | [ ](/checkout \"Click to Unlock\") | 575 | 0.00 | 1 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Brooklyn FI, LLC ](/i/brooklyn-fi-llc) | | | [ ](/checkout \"Click to Unlock\") | 47,000 | | 96 | | [ ](/checkout \"Click to Unlock\") \n2024-11-14 | 13F/A | [ Northwest & Ethical Investments L.P. ](/i/northwest-ethical-investments-l-p7905) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ Centricity Wealth Management, LLC ](/i/centricity-wealth-management-llc-9277) | | | [ ](/checkout \"Click to Unlock\") | 141 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-07 | 13F | [ AdvisorNet Financial, Inc ](/i/advisornet-financial) | | | [ ](/checkout \"Click to Unlock\") | 2,000 | 6,566.67 | 4 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Ubs Asset Management Americas Inc ](/i/ubs-asset-management-americas) | | | [ ](/checkout \"Click to Unlock\") | 231,965 | 0.00 | 469 | -7.87 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ TD Waterhouse Canada Inc. ](/i/td-waterhouse-canada-inc) | | | [ ](/checkout \"Click to Unlock\") | 2,815 | | 6 | | [ ](/checkout \"Click to Unlock\") \n2025-01-24 | 13F | [ HHM Wealth Advisors, LLC ](/i/hhm-wealth-advisors) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ SOA Wealth Advisors, LLC. ](/i/soa-wealth-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 517 | 0.00 | 1 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-03-26 | NP | [ DFA INVESTMENT DIMENSIONS GROUP INC - World ex U.S. Core Equity Portfolio Institutional Class Shares ](/i/dfa-investment-dimensions-group-inc-world-ex-u-s-core-equity-portfolio-institutional-class-shares) This fund is a listed as child fund of Dimensional Fund Advisors Lp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 7,100 | 0.00 | 13 | -7.14 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ SIG North Trading, ULC ](/i/sig-north-trading-ulc) | | Call | [ ](/checkout \"Click to Unlock\") | 18,200 | -56.56 | 37 | -60.44 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Citigroup Inc ](/i/citigroup) | | | [ ](/checkout \"Click to Unlock\") | 8,470 | | 17 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ SIG North Trading, ULC ](/i/sig-north-trading-ulc) | | Put | [ ](/checkout \"Click to Unlock\") | 12,500 | 25.00 | 25 | 19.05 | [ ](/checkout \"Click to Unlock\") \n2025-04-21 | 13F | [ Friedenthal Financial ](/i/friedenthal-financial) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ SIG North Trading, ULC ](/i/sig-north-trading-ulc) | | | [ ](/checkout \"Click to Unlock\") | 50,568 | | 102 | | [ ](/checkout \"Click to Unlock\") \n2025-04-10 | 13F | [ Park Edge Advisors, LLC ](/i/park-edge-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 11,701 | 6.28 | 21 | -4.55 | [ ](/checkout \"Click to Unlock\") \n2025-03-31 | NP | [ FTIHX - Fidelity Total International Index Fund ](/i/fidelity-salem-street-trust-fidelity-total-international-index-fund) This fund is a listed as child fund of Fmr Llc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 106,052 | 0.17 | 201 | -9.05 | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Northwestern Mutual Wealth Management Co ](/i/northwestern-mutual-wealth-management) | | | [ ](/checkout \"Click to Unlock\") | 2,302 | 0.09 | 5 | -20.00 | [ ](/checkout \"Click to Unlock\") \n2025-01-27 | 13F | [ CarsonAllaria Wealth Management, Ltd. ](/i/carsonallaria-wealth-management-ltd) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Shell Asset Management Co ](/i/shell-asset-management) | | | [ ](/checkout \"Click to Unlock\") | 11,611 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-08 | 13F | [ Rhumbline Advisers ](/i/rhumbline-advisers) | | | [ ](/checkout \"Click to Unlock\") | 355 | 0.00 | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-01-28 | 13F | [ Tandem Financial, LLC ](/i/tandem-financial-llc-1410) | | | [ ](/checkout \"Click to Unlock\") | 1,000 | | 2 | | [ ](/checkout \"Click to Unlock\") \n2025-01-30 | 13F | [ Principal Securities, Inc. ](/i/principal-securities-inc) | | | [ ](/checkout \"Click to Unlock\") | 250 | 0.00 | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-01-07 | 13F | [ Rise Advisors, LLC ](/i/rise-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Connor, Clark & Lunn Investment Management Ltd. ](/i/connor-clark-lunn-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 31,100 | | 62 | | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Heritage Wealth Advisors ](/i/heritage-wealth-advisors) | | | [ ](/checkout \"Click to Unlock\") | 1,380 | 0.00 | 3 | -33.33 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Jane Street Group, Llc ](/i/jane-street-group-llc) | | | [ ](/checkout \"Click to Unlock\") | 233,961 | 36.03 | 470 | 23.68 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Jane Street Group, Llc ](/i/jane-street-group-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 22,700 | -57.81 | 46 | -61.86 | [ ](/checkout \"Click to Unlock\") \n2024-11-15 | 13F | [ Jane Street Group, Llc ](/i/jane-street-group-llc) | | Put | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-01-29 | 13F | [ Comprehensive Financial Planning, Inc./PA ](/i/comprehensive-financial-planning-inc-pa-3278) | | | [ ](/checkout \"Click to Unlock\") | 396 | | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Pictet Asset Management Holding SA ](/i/pictet-asset-management-holding-sa) | | | [ ](/checkout \"Click to Unlock\") | 31,632 | 0.00 | 64 | -10.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Wells Fargo & Company/mn ](/i/wells-fargo-company-mn) | | | [ ](/checkout \"Click to Unlock\") | 1,783 | -57.68 | 4 | -66.67 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ State of Wyoming ](/i/state-of-wyoming) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-11 | 13F | [ City State Bank ](/i/city-state-bank) | | | [ ](/checkout \"Click to Unlock\") | 300 | 0.00 | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Aquatic Capital Management LLC ](/i/aquatic-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 73,022 | | 148 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Citadel Advisors Llc ](/i/citadel-advisors-llc) | | Put | [ ](/checkout \"Click to Unlock\") | 199,900 | 19.41 | 404 | 10.11 | [ ](/checkout \"Click to Unlock\") \n2025-04-10 | 13F | [ Armstrong Advisory Group, Inc ](/i/armstrong-advisory-group-inc) | | | [ ](/checkout \"Click to Unlock\") | 250 | 0.00 | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Citadel Advisors Llc ](/i/citadel-advisors-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 228,800 | 56.71 | 462 | 44.83 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Chescapmanager LLC ](/i/chescapmanager) | | | [ ](/checkout \"Click to Unlock\") | 7,950,237 | 0.00 | 16,059 | -7.77 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Citadel Advisors Llc ](/i/citadel-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 486,667 | -4.90 | 983 | -12.23 | [ ](/checkout \"Click to Unlock\") \n2025-02-04 | 13F | [ Addison Advisors LLC ](/i/addison-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 1,800 | 0.00 | 4 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Timelo Investment Management Inc. ](/i/timelo-investment-management-inc) | | | [ ](/checkout \"Click to Unlock\") | 641,803 | -14.97 | 1,296 | -21.60 | [ ](/checkout \"Click to Unlock\") \n2025-04-01 | 13F | [ Oliver Lagore Vanvalin Investment Group ](/i/oliver-lagore-vanvalin-investment-group) | | | [ ](/checkout \"Click to Unlock\") | 485 | -81.15 | 1 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-13 | 13F | [ Gen-Wealth Partners Inc ](/i/gen-wealth-partners-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Harbour Investments, Inc. ](/i/harbour-investments-inc) | | | [ ](/checkout \"Click to Unlock\") | 607 | -29.17 | 1 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-08 | 13F | [ Rothschild Investment Llc ](/i/rothschild-investment-llc6491) | | | [ ](/checkout \"Click to Unlock\") | 62 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Sandy Spring Bank ](/i/sandy-spring-bank) | | | [ ](/checkout \"Click to Unlock\") | 800 | 0.00 | 2 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-03-28 | NP | [ DXIV - Dimensional International Vector Equity ETF ](/i/dimensional-etf-trust-dimensional-international-vector-equity-etf-7463) | | | [ ](/checkout \"Click to Unlock\") | 500 | 0.00 | 1 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F | [ Madrona Financial Services, LLC ](/i/madrona-financial-services-llc) | | | [ ](/checkout \"Click to Unlock\") | 50,000 | 0.00 | 90 | -10.89 | [ ](/checkout \"Click to Unlock\") \n2025-04-10 | 13F | [ Rialto Wealth Management, LLC ](/i/rialto-wealth-management-llc-1408) | | | [ ](/checkout \"Click to Unlock\") | 1,000 | 0.00 | 2 | -50.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Proequities, Inc. ](/i/proequities) | | Call | [ ](/checkout \"Click to Unlock\") | 0 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Quinn Opportunity Partners LLC ](/i/quinn-opportunity-partners-llc) | | | [ ](/checkout \"Click to Unlock\") | 194,600 | 49.69 | 393 | 38.38 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Proequities, Inc. ](/i/proequities) | | Put | [ ](/checkout \"Click to Unlock\") | 0 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-10 | 13F | [ Financial Management Professionals, Inc. ](/i/financial-management-professionals) | | | [ ](/checkout \"Click to Unlock\") | 925 | 0.00 | 2 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Proequities, Inc. ](/i/proequities) | | | [ ](/checkout \"Click to Unlock\") | 0 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-03-26 | NP | [ DFA INVESTMENT TRUST CO - The Canadian Small Company Series ](/i/dfa-investment-trust-co-the-canadian-small-company-series) This fund is a listed as child fund of Dimensional Fund Advisors Lp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 110,912 | -85.48 | 208 | -85.67 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Barclays Plc ](/i/barclays) | | | [ ](/checkout \"Click to Unlock\") | 44,291 | -0.12 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F/A | [ Caitong International Asset Management Co., Ltd ](/i/caitong-international-asset-management-co-ltd-9695) | | | [ ](/checkout \"Click to Unlock\") | 566 | | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Swiss National Bank ](/i/swiss-national-bank) | | | [ ](/checkout \"Click to Unlock\") | 415,400 | 0.00 | 835 | -9.25 | [ ](/checkout \"Click to Unlock\") \n2025-02-04 | 13F | [ Cwm, Llc ](/i/cwm-llc) | | | [ ](/checkout \"Click to Unlock\") | 250 | -84.56 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-06 | 13F | [ SBI Securities Co., Ltd. ](/i/sbi-securities-co-ltd-2148) | | | [ ](/checkout \"Click to Unlock\") | 15,070 | | 30 | | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Penserra Capital Management LLC ](/i/penserra-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 507,917 | 0.00 | 1 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ HighTower Advisors, LLC ](/i/hightower-advisors-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 108,400 | 40.78 | 22 | -29.03 | [ ](/checkout \"Click to Unlock\") \n2025-01-15 | 13F | [ Trust Co Of Vermont ](/i/trust-co-of-vermont) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F | [ Pure Financial Advisors, Inc. ](/i/pure-financial-advisors) | | | [ ](/checkout \"Click to Unlock\") | 10,100 | 0.00 | 18 | -10.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Hurley Capital, LLC ](/i/hurley-capital-llc) | | | [ ](/checkout \"Click to Unlock\") | 125 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Parallax Volatility Advisers, L.P. ](/i/parallax-volatility-advisers) | | Call | [ ](/checkout \"Click to Unlock\") | 756,100 | -31.62 | 1,527 | -36.93 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Parallax Volatility Advisers, L.P. ](/i/parallax-volatility-advisers) | | | [ ](/checkout \"Click to Unlock\") | 1,284,150 | 7.82 | 2,594 | -0.58 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Parallax Volatility Advisers, L.P. ](/i/parallax-volatility-advisers) | | Put | [ ](/checkout \"Click to Unlock\") | 37,900 | -72.95 | 77 | -75.16 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Geode Capital Management, Llc ](/i/geode-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 546,700 | 6.45 | 1,104 | -1.78 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Federation des caisses Desjardins du Quebec ](/i/federation-des-caisses-desjardins-du-quebec) | | | [ ](/checkout \"Click to Unlock\") | 4,700 | -56.07 | 9 | -60.87 | [ ](/checkout \"Click to Unlock\") \n2025-03-31 | NP | [ VFSNX - Vanguard FTSE All-World ex-US Small-Cap Index Fund Institutional Shares ](/i/vanguard-international-equity-index-funds-vanguard-ftse-all-world-ex-us-small-cap-index-fund-institutional-shares) This fund is a listed as child fund of Vanguard Group Inc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 709,666 | 0.00 | 1,333 | -11.01 | [ ](/checkout \"Click to Unlock\") \n2025-02-06 | 13F | [ Jones Financial Companies Lllp ](/i/jones-financial-companies-lllp) | | | [ ](/checkout \"Click to Unlock\") | 16,623 | 64.54 | 34 | 57.14 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Prestige Wealth Management Group LLC ](/i/prestige-wealth-management-group) | | | [ ](/checkout \"Click to Unlock\") | 345 | -26.60 | 1 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-01-27 | NP | [ ONEQ - Fidelity Nasdaq Composite Index Tracking Stock ](/i/fidelity-commonwealth-trust) This fund is a listed as child fund of Fmr Llc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 193,669 | 0.72 | 403 | -7.37 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Alliancebernstein L.p. ](/i/alliancebernstein) | | | [ ](/checkout \"Click to Unlock\") | 84,598 | 0.00 | 171 | -8.11 | [ ](/checkout \"Click to Unlock\") \n2025-02-27 | NP | [ SSGVX - State Street Global Equity ex-U.S. Index Portfolio State Street Global All Cap Equity ex-U.S. Index Portfolio ](/i/state-street-institutional-investment-trust-state-street-global-equity-ex-u-s-index-portfolio-state-street-global-all-cap-equity-ex-u-s-index-portfolio) This fund is a listed as child fund of State Street Corp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 33,600 | 0.00 | 68 | -9.46 | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ HighTower Advisors, LLC ](/i/hightower-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 23,820 | -24.75 | 48 | -27.27 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Anchor Investment Management, LLC ](/i/anchor-investment-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 79 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-17 | 13F | [ Nbt Bank N A /ny ](/i/nbt-bank-n-a-ny) | | | [ ](/checkout \"Click to Unlock\") | 10 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-22 | 13F | [ Eq Wealth Advisors, Llc ](/i/eq-wealth-advisors-llc-513) | | | [ ](/checkout \"Click to Unlock\") | 128 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-24 | NP | [ VICAX - USA Mutuals Vice Global Fund Class A ](/i/northern-lights-fund-trust-iv-usa-mutuals-vice-global-fund-class-a) | | | [ ](/checkout \"Click to Unlock\") | 480,000 | 0.00 | 970 | -7.80 | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F/A | [ Raymond James Financial Inc ](/i/raymond-james-financial-inc-866) | | | [ ](/checkout \"Click to Unlock\") | 317,418 | | 641 | | [ ](/checkout \"Click to Unlock\") \n2025-01-31 | 13F | [ Kestra Investment Management, LLC ](/i/kestra-investment-management-llc307) | | | [ ](/checkout \"Click to Unlock\") | 774 | | 2 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Susquehanna International Group, Llp ](/i/susquehanna-international-group-llp) | | Call | [ ](/checkout \"Click to Unlock\") | 287,200 | -64.48 | 580 | -67.23 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Susquehanna International Group, Llp ](/i/susquehanna-international-group-llp) | | Put | [ ](/checkout \"Click to Unlock\") | 369,600 | -6.31 | 747 | -13.56 | [ ](/checkout \"Click to Unlock\") \n2025-04-09 | 13F | [ Harbor Investment Advisory, Llc ](/i/harbor-investment-advisory-llc) | | | [ ](/checkout \"Click to Unlock\") | 5 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Susquehanna International Group, Llp ](/i/susquehanna-international-group-llp) | | | [ ](/checkout \"Click to Unlock\") | 390,854 | 39.75 | 790 | 28.92 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ EverSource Wealth Advisors, LLC ](/i/eversource-wealth-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 506 | -54.58 | 1 | -50.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ UMA Financial Services, Inc. ](/i/uma-financial-services) | | | [ ](/checkout \"Click to Unlock\") | 255 | | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-04-21 | 13F | [ ORG Wealth Partners, LLC ](/i/org-wealth-partners-llc1) | | | [ ](/checkout \"Click to Unlock\") | 522 | 0.00 | 1 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-19 | 13F | [ Public Employees Retirement System Of Ohio ](/i/public-employees-retirement-system-of-ohio) | | | [ ](/checkout \"Click to Unlock\") | 64,995 | 2.96 | 131 | -6.47 | [ ](/checkout \"Click to Unlock\") \n2025-02-25 | NP | [ Amplify ETF Trust - Amplify Alternative Harvest ETF ](/i/amplify-etf-trust-amplify-alternative-harvest-etf) | | | [ ](/checkout \"Click to Unlock\") | 4,884,980 | -2.82 | 9,868 | -10.37 | [ ](/checkout \"Click to Unlock\") \n2025-03-28 | NP | [ DFAI - Dimensional International Core Equity Market ETF ](/i/dimensional-etf-trust-dimensional-international-core-equity-market-etf) | | | [ ](/checkout \"Click to Unlock\") | 120,813 | 19.84 | 228 | 7.08 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Resources Investment Advisors, LLC. ](/i/resources-investment-advisors) | | | [ ](/checkout \"Click to Unlock\") | 10,167 | 0.00 | 21 | -9.09 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Dimensional Fund Advisors Lp ](/i/dimensional-fund-advisors-lp) | | | [ ](/checkout \"Click to Unlock\") | 2,753,055 | 5.06 | 5,561 | -3.08 | [ ](/checkout \"Click to Unlock\") \n2025-02-06 | 13F | [ Charles Schwab Investment Management Inc ](/i/schwab-charles-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 371,942 | -0.71 | 747 | -9.89 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Zacks Investment Management ](/i/zacks-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 18,657 | | 38 | | [ ](/checkout \"Click to Unlock\") \n2025-03-31 | NP | [ VGTSX - Vanguard Total International Stock Index Fund Investor Shares ](/i/vanguard-star-funds-vanguard-total-international-stock-index-fund-investor-shares) This fund is a listed as child fund of Vanguard Group Inc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 2,750,743 | 0.00 | 5,167 | -11.04 | [ ](/checkout \"Click to Unlock\") \n2025-01-31 | 13F | [ Global Retirement Partners, LLC ](/i/global-retirement-partners) | | | [ ](/checkout \"Click to Unlock\") | 2,730 | 0.00 | 6 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Squarepoint Ops LLC ](/i/squarepoint-ops-llc) | | Put | [ ](/checkout \"Click to Unlock\") | 229,000 | | 463 | | [ ](/checkout \"Click to Unlock\") \n2025-01-23 | 13F | [ Hantz Financial Services, Inc. ](/i/hantz-financial-services-inc) | | | [ ](/checkout \"Click to Unlock\") | 1,947 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Squarepoint Ops LLC ](/i/squarepoint-ops-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 151,900 | 73.40 | 307 | 60.21 | [ ](/checkout \"Click to Unlock\") \n2025-04-21 | 13F | [ ORG Partners LLC ](/i/org-partners-llc) | | | [ ](/checkout \"Click to Unlock\") | 100 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Headlands Technologies LLC ](/i/headlands-technologies-llc) | | | [ ](/checkout \"Click to Unlock\") | 28,917 | 904.41 | 58 | 866.67 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Wolverine Trading, Llc ](/i/wolverine-trading) | | Call | [ ](/checkout \"Click to Unlock\") | 124,000 | 10.52 | 242 | -0.82 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Wolverine Trading, Llc ](/i/wolverine-trading) | | Put | [ ](/checkout \"Click to Unlock\") | 29,100 | -12.08 | 57 | -21.13 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Squarepoint Ops LLC ](/i/squarepoint-ops-llc) | | | [ ](/checkout \"Click to Unlock\") | 127,084 | | 257 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Toroso Investments, LLC ](/i/toroso-investments) | | | [ ](/checkout \"Click to Unlock\") | 4,884,980 | -2.82 | 9,868 | -10.37 | [ ](/checkout \"Click to Unlock\") \n2025-02-28 | 13F | [ Park Square Financial Group, LLC ](/i/park-square-financial-group-llc-197) | | | [ ](/checkout \"Click to Unlock\") | 1,485 | | 3 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Wolverine Trading, Llc ](/i/wolverine-trading) | | | [ ](/checkout \"Click to Unlock\") | 10,902 | | 21 | | [ ](/checkout \"Click to Unlock\") \n2025-01-21 | 13F | [ PCG Wealth Advisors, LLC ](/i/pcg-wealth-advisors-llc) | | | [ ](/checkout \"Click to Unlock\") | 13,425 | 0.00 | 27 | -6.90 | [ ](/checkout \"Click to Unlock\") \n2025-02-03 | 13F | [ Keebeck Alpha, LP ](/i/keebeck-alpha-lp) | | | [ ](/checkout \"Click to Unlock\") | 35,275 | 0.00 | 71 | -7.79 | [ ](/checkout \"Click to Unlock\") \n2025-02-28 | NP | [ QCSTRX - Stock Account Class R1 ](/i/college-retirement-equities-fund-stock-account-class-r1) | | | [ ](/checkout \"Click to Unlock\") | 189,422 | 0.00 | 381 | -9.09 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Centiva Capital, LP ](/i/centiva-capital) | | | [ ](/checkout \"Click to Unlock\") | 200,000 | 150.00 | 404 | 130.86 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Centiva Capital, LP ](/i/centiva-capital) | | Call | [ ](/checkout \"Click to Unlock\") | 101,300 | 0.00 | 205 | -7.69 | [ ](/checkout \"Click to Unlock\") \n2024-10-29 | 13F | [ Wetzel Investment Advisors, Inc. ](/i/wetzel-investment-advisors-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Virtu Financial LLC ](/i/virtu-financial-llc) | | | [ ](/checkout \"Click to Unlock\") | 12,488 | -77.09 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-28 | NP | [ JAJDX - International Small Company Trust NAV ](/i/john-hancock-variable-insurance-trust-international-small-company-trust-nav) | | | [ ](/checkout \"Click to Unlock\") | 5,470 | 0.00 | 11 | -16.67 | [ ](/checkout \"Click to Unlock\") \n2025-02-04 | 13F | [ MMCAP International Inc. SPC ](/i/mmcap-international-inc-spc) | | | [ ](/checkout \"Click to Unlock\") | 1,736,600 | -18.53 | 3,508 | -24.87 | [ ](/checkout \"Click to Unlock\") \n2025-04-11 | 13F | [ Cranbrook Wealth Management, LLC ](/i/cranbrook-wealth-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-22 | 13F | [ Tower View Investment Management & Research LLC ](/i/tower-view-investment-management-research) | | | [ ](/checkout \"Click to Unlock\") | 100 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-28 | NP | [ VTMGX - Vanguard Developed Markets Index Fund Admiral Shares ](/i/vanguard-tax-managed-funds-vanguard-developed-markets-index-fund-admiral-shares) This fund is a listed as child fund of Vanguard Group Inc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 1,709,086 | 0.00 | 3,436 | -9.05 | [ ](/checkout \"Click to Unlock\") \n2025-04-15 | 13F | [ GPS Wealth Strategies Group, LLC ](/i/gps-wealth-strategies-group-llc) | | | [ ](/checkout \"Click to Unlock\") | 224 | -60.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F | [ International Assets Investment Management, Llc ](/i/international-assets-investment-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-01-28 | 13F | [ Sageworth Trust Co ](/i/sageworth-trust) | | | [ ](/checkout \"Click to Unlock\") | 15,000 | 0.00 | 30 | -6.25 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Cannell Capital Llc ](/i/cannell-capital-llc) | | | [ ](/checkout \"Click to Unlock\") | 1,645,221 | | 3,323 | | [ ](/checkout \"Click to Unlock\") \n2025-03-31 | NP | [ VT - Vanguard Total World Stock Index Fund ETF Shares ](/i/vanguard-international-equity-index-funds-vanguard-total-world-stock-index-fund-etf-shares) This fund is a listed as child fund of Vanguard Group Inc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 105,313 | 0.00 | 198 | -11.26 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ D. E. Shaw & Co., Inc. ](/i/d-e-shaw) | | | [ ](/checkout \"Click to Unlock\") | 154,160 | 27.83 | 310 | 16.17 | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ Advisor Group Holdings, Inc. ](/i/advisor-group-holdings) | | | [ ](/checkout \"Click to Unlock\") | 15,817 | -18.78 | 34 | -19.05 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Two Sigma Investments, Lp ](/i/two-sigma-investments-llc) | | | [ ](/checkout \"Click to Unlock\") | 1,134,228 | -22.63 | 2,291 | -28.63 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Legal & General Group Plc ](/i/legal-general-group) | | | [ ](/checkout \"Click to Unlock\") | 168,257 | 0.00 | 338 | -9.14 | [ ](/checkout \"Click to Unlock\") \n2025-03-04 | 13F | [ Dogwood Wealth Management LLC ](/i/dogwood-wealth-management-llc-4860) | | | [ ](/checkout \"Click to Unlock\") | 260 | | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-03-27 | NP | [ IDEV - iShares Core MSCI International Developed Markets ETF ](/i/ishares-trust-ishares-core-msci-international-developed-markets-etf) This fund is a listed as child fund of BlackRock Inc. and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 274,969 | 0.00 | 517 | -11.03 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Two Sigma Advisers, Lp ](/i/two-sigma-advisers-lp) | | | [ ](/checkout \"Click to Unlock\") | 275,357 | 8.00 | 556 | -0.36 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Royal Bank Of Canada ](/i/royal-bank-of-canada) | | | [ ](/checkout \"Click to Unlock\") | 120,674 | 584.75 | 244 | 542.11 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Russell Investments Group, Ltd. ](/i/russell-investments-group) | | | [ ](/checkout \"Click to Unlock\") | 5,219 | -72.24 | 10 | -75.61 | [ ](/checkout \"Click to Unlock\") \n2024-11-12 | 13F | [ Newbridge Financial Services Group, Inc. ](/i/newbridge-financial-services-group-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-22 | 13F | [ Continuum Advisory, LLC ](/i/continuum-advisory-llc) | | | [ ](/checkout \"Click to Unlock\") | 9 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ Larson Financial Group LLC ](/i/larson-financial-group) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Shay Capital LLC ](/i/shay-capital-llc) | | | [ ](/checkout \"Click to Unlock\") | 55,413 | 79.62 | 112 | 65.67 | [ ](/checkout \"Click to Unlock\") \n2025-04-21 | 13F | [ Beacon Capital Management, LLC ](/i/beacon-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 45 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-14 | 13F | [ PFS Partners, LLC ](/i/pfs-partners-llc) | | | [ ](/checkout \"Click to Unlock\") | 5,950 | 0.00 | 11 | -16.67 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ GeoWealth Management, LLC ](/i/geowealth-management) | | | [ ](/checkout \"Click to Unlock\") | 7,250 | 0.00 | 15 | -6.67 | [ ](/checkout \"Click to Unlock\") \n2025-01-30 | 13F | [ Bogart Wealth, LLC ](/i/bogart-wealth) | | | [ ](/checkout \"Click to Unlock\") | 100 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Engineers Gate Manager LP ](/i/engineers-gate-manager-lp) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Renaissance Technologies Llc ](/i/renaissance-technologies-llc) | | | [ ](/checkout \"Click to Unlock\") | 408,341 | -38.68 | 825 | -43.48 | [ ](/checkout \"Click to Unlock\") \n2025-01-30 | 13F | [ Allworth Financial LP ](/i/hanson-mcclain) | | | [ ](/checkout \"Click to Unlock\") | 844 | 313.73 | 2 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Nuveen Asset Management, LLC ](/i/nuveen-asset-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 189,422 | 0.00 | 381 | -8.87 | [ ](/checkout \"Click to Unlock\") \n2025-01-15 | 13F | [ Householder Group Estate & Retirement Specialist, LLC ](/i/householder-group-estate-retirement-specialist-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-06 | NP | [ LINCOLN VARIABLE INSURANCE PRODUCTS TRUST - LVIP Dimensional International Core Equity Fund Standard Class ](/i/lincoln-variable-insurance-products-trust-lvip-dimensional-international-core-equity-fund-standard-class) | | | [ ](/checkout \"Click to Unlock\") | 19,611 | 0.00 | 40 | -7.14 | [ ](/checkout \"Click to Unlock\") \n2024-11-14 | 13F | [ Oxford Asset Management Llp ](/i/oxford-asset-management) | | | [ ](/checkout \"Click to Unlock\") | 13,000 | -37.31 | 28 | -41.67 | [ ](/checkout \"Click to Unlock\") \n2025-03-28 | NP | [ DFIC - Dimensional International Core Equity 2 ETF ](/i/dimensional-etf-trust-dimensional-international-core-equity-2-etf) | | | [ ](/checkout \"Click to Unlock\") | 192,758 | 995.28 | 366 | 1,009.09 | [ ](/checkout \"Click to Unlock\") \n2024-11-13 | 13F | [ C M Bidwell & Associates Ltd ](/i/c-m-bidwell-associates) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-05 | 13F | [ SRS Capital Advisors, Inc. ](/i/srs-capital-advisors) | | | [ ](/checkout \"Click to Unlock\") | 60 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Capital Analysts, Inc. ](/i/capital-analysts) | | | [ ](/checkout \"Click to Unlock\") | 11,100 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Whittier Trust Co Of Nevada Inc ](/i/whittier-trust-co-of-nevada) | | | [ ](/checkout \"Click to Unlock\") | 58 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-01-27 | NP | [ FNCMX - Fidelity Nasdaq Composite Index Fund ](/i/fidelity-concord-street-trust-fidelity-nasdaq-composite-index-fund) This fund is a listed as child fund of Fmr Llc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 210,967 | 0.00 | 439 | -7.98 | [ ](/checkout \"Click to Unlock\") \n2024-11-12 | 13F | [ ClariVest Asset Management LLC ](/i/clarivest-asset-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 273,184 | 0.00 | 637 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-14 | 13F | [ Polar Asset Management Partners Inc. ](/i/polar-asset-management-partners) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F | [ Golden State Wealth Management, LLC ](/i/golden-state-wealth-management) | | | [ ](/checkout \"Click to Unlock\") | 370 | 100.00 | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Graham Capital Management, L.P. ](/i/graham-capital-management) | | | [ ](/checkout \"Click to Unlock\") | 24,774 | -14.13 | 50 | -20.63 | [ ](/checkout \"Click to Unlock\") \n2024-11-14 | 13F | [ Toronto Dominion Bank ](/i/toronto-dominion-bank) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Simplex Trading, Llc ](/i/simplex-trading-llc) | | Call | [ ](/checkout \"Click to Unlock\") | 666,700 | 55.44 | 1 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Simplex Trading, Llc ](/i/simplex-trading-llc) | | | [ ](/checkout \"Click to Unlock\") | 44,126 | -36.72 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Kazazian Asset Management, LLC ](/i/kazazian-asset-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 67,850 | | 137 | | [ ](/checkout \"Click to Unlock\") \n2025-04-18 | 13F | [ Financial Perspectives, Inc ](/i/financial-perspectives-inc) | | | [ ](/checkout \"Click to Unlock\") | 45 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-19 | 13F | [ Formidable Asset Management, LLC ](/i/formidable-asset-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 278,398 | 2.07 | 562 | -5.86 | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Td Asset Management Inc ](/i/td-asset-management) | | | [ ](/checkout \"Click to Unlock\") | 12,350 | | 25 | | [ ](/checkout \"Click to Unlock\") \n2025-01-24 | NP | [ SCHC - Schwab International Small-Cap Equity ETF ](/i/schwab-strategic-trust-schwab-international-small-cap-equity-etf) This fund is a listed as child fund of Charles Schwab Investment Management Inc and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 373,250 | -1.50 | 781 | -8.23 | [ ](/checkout \"Click to Unlock\") \n2025-02-28 | NP | [ Brighthouse Funds Trust II - Brighthouse/Dimensional International Small Company Portfolio Class A ](/i/brighthouse-funds-trust-ii-brighthouse-dimensional-international-small-company-portfolio-class-a) | | | [ ](/checkout \"Click to Unlock\") | 20,813 | 0.00 | 42 | -6.67 | [ ](/checkout \"Click to Unlock\") \n2025-04-17 | 13F | [ Janney Montgomery Scott LLC ](/i/janney-montgomery-scott-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Kerrisdale Advisers, LLC ](/i/kerrisdale-advisers-llc) | | | [ ](/checkout \"Click to Unlock\") | 468,786 | 2.30 | 947 | -5.68 | [ ](/checkout \"Click to Unlock\") \n2025-03-26 | NP | [ DFA INVESTMENT DIMENSIONS GROUP INC - International Vector Equity Portfolio Shares ](/i/dfa-investment-dimensions-group-inc-international-vector-equity-portfolio-shares) This fund is a listed as child fund of Dimensional Fund Advisors Lp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 192,240 | 0.00 | 365 | -8.98 | [ ](/checkout \"Click to Unlock\") \n2025-01-23 | 13F | [ Cypress Capital Management LLC (WY) ](/i/cypress-capital-management-llc-wy-) | | | [ ](/checkout \"Click to Unlock\") | 100 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-23 | 13F | [ Fourth Dimension Wealth, LLC ](/i/fourth-dimension-wealth-llc-6561) | | | [ ](/checkout \"Click to Unlock\") | 21 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Great West Life Assurance Co /can/ ](/i/great-west-life-assurance-co-can-) | | | [ ](/checkout \"Click to Unlock\") | 10,570 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ AdvisorShares Investments LLC ](/i/advisorshares-investments-llc) | | | [ ](/checkout \"Click to Unlock\") | 674,528 | -2.33 | 1,363 | -9.92 | [ ](/checkout \"Click to Unlock\") \n2025-03-28 | NP | [ DFIS - Dimensional International Small Cap ETF ](/i/dimensional-etf-trust-dimensional-international-small-cap-etf) | | | [ ](/checkout \"Click to Unlock\") | 245,765 | 9.66 | 467 | -0.43 | [ ](/checkout \"Click to Unlock\") \n2024-11-12 | 13F | [ Clear Point Advisors Inc. ](/i/clear-point-advisors-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Caption Management, LLC ](/i/caption-management) | | | [ ](/checkout \"Click to Unlock\") | 215,680 | -4.27 | 436 | -11.76 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Caption Management, LLC ](/i/caption-management) | | Call | [ ](/checkout \"Click to Unlock\") | 485,000 | 39.29 | 980 | 28.48 | [ ](/checkout \"Click to Unlock\") \n2025-04-11 | 13F | [ Seacrest Wealth Management, Llc ](/i/seacrest-wealth-management) | | | [ ](/checkout \"Click to Unlock\") | 314,100 | 65.98 | 569 | 48.69 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Caption Management, LLC ](/i/caption-management) | | Put | [ ](/checkout \"Click to Unlock\") | 25,000 | -75.00 | 50 | -77.17 | [ ](/checkout \"Click to Unlock\") \n2025-03-27 | NP | [ IXUS - iShares Core MSCI Total International Stock ETF ](/i/ishares-trust-ishares-core-msci-total-international-stock-etf) This fund is a listed as child fund of BlackRock Inc. and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 386,122 | 0.00 | 725 | -11.04 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Tower Research Capital LLC (TRC) ](/i/tower-research-capital-llc-trc-) | | | [ ](/checkout \"Click to Unlock\") | 13,726 | 140.51 | 28 | 125.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-12 | 13F | [ CIBC World Markets Inc. ](/i/cibc-world-markets1) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-07 | 13F | [ Zurcher Kantonalbank (Zurich Cantonalbank) ](/i/zurcher-kantonalbank-zurich-cantonalbank-) | | | [ ](/checkout \"Click to Unlock\") | 53,942 | 0.00 | 108 | -9.24 | [ ](/checkout \"Click to Unlock\") \n2025-02-04 | 13F | [ Tradewinds Capital Management, LLC ](/i/tradewinds-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Goldman Sachs Group Inc ](/i/goldman-sachs-group) | | | [ ](/checkout \"Click to Unlock\") | 583,244 | 23.37 | 1,178 | 13.82 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Signaturefd, Llc ](/i/signaturefd-llc) | | | [ ](/checkout \"Click to Unlock\") | 1,500 | -43.07 | 3 | -40.00 | [ ](/checkout \"Click to Unlock\") \n2025-01-27 | 13F | [ Brown, Lisle/cummings, Inc. ](/i/brown-lisle-cummings-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Clear Street Llc ](/i/clear-street-llc) | | | [ ](/checkout \"Click to Unlock\") | 12,500 | | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ National Bank Of Canada /fi/ ](/i/national-bank-of-canada-fi-) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Cambria Investment Management, L.P. ](/i/cambria-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 319,029 | 0.00 | 644 | -7.74 | [ ](/checkout \"Click to Unlock\") \n2025-02-03 | 13F | [ Private Advisor Group, LLC ](/i/private-advisor-group-llc) | | | [ ](/checkout \"Click to Unlock\") | 32,151 | -15.17 | 65 | -22.89 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Bank Of America Corp /de/ ](/i/bank-of-america-corp-de-) | | | [ ](/checkout \"Click to Unlock\") | 124,540 | -3.69 | 252 | -11.31 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Morgan Stanley ](/i/morgan-stanley) | | | [ ](/checkout \"Click to Unlock\") | 346,696 | 8.08 | 700 | -0.28 | [ ](/checkout \"Click to Unlock\") \n2025-01-23 | 13F | [ Baader Bank INC ](/i/baader-bank-inc) | | | [ ](/checkout \"Click to Unlock\") | 202,686 | 0.36 | 405 | -8.78 | [ ](/checkout \"Click to Unlock\") \n2025-04-08 | 13F | [ Parallel Advisors, LLC ](/i/parallel-advisors) | | | [ ](/checkout \"Click to Unlock\") | 104,000 | -1.28 | 188 | -11.32 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Franklin Resources Inc ](/i/franklin-resources) | | | [ ](/checkout \"Click to Unlock\") | 13,110 | 4.55 | 26 | -7.14 | [ ](/checkout \"Click to Unlock\") \n2025-04-17 | 13F | [ Grove Bank & Trust ](/i/coconut-grove-bank) | | | [ ](/checkout \"Click to Unlock\") | 2,000 | 0.00 | 4 | -25.00 | [ ](/checkout \"Click to Unlock\") \n2025-01-31 | 13F | [ CIBC Asset Management Inc ](/i/cibc-asset-management) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | -100.00 | [ ](/checkout \"Click to Unlock\") \n2024-11-08 | 13F | [ Banque Cantonale Vaudoise ](/i/banque-cantonale-vaudoise) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-03-28 | NP | [ DFAX - Dimensional World ex U.S. Core Equity 2 ETF ](/i/dimensional-etf-trust-dimensional-world-ex-u-s-core-equity-2-etf) | | | [ ](/checkout \"Click to Unlock\") | 152,616 | 0.00 | 290 | -9.12 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Cerity Partners LLC ](/i/hpm-partners) | | | [ ](/checkout \"Click to Unlock\") | 31,017 | 0.00 | 63 | -7.46 | [ ](/checkout \"Click to Unlock\") \n2025-01-30 | 13F | [ Salomon & Ludwin, LLC ](/i/salomon-ludwin) | | | [ ](/checkout \"Click to Unlock\") | 640 | 0.00 | 1 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ Arrowstreet Capital, Limited Partnership ](/i/arrowstreet-capital-limited-partnership) | | | [ ](/checkout \"Click to Unlock\") | 37,940 | | 76 | | [ ](/checkout \"Click to Unlock\") \n2025-02-27 | NP | [ ALLIANZ VARIABLE INSURANCE PRODUCTS TRUST - AZL DFA International Core Equity Fund ](/i/allianz-variable-insurance-products-trust-azl-dfa-international-core-equity-fund) | | | [ ](/checkout \"Click to Unlock\") | 13,000 | 0.00 | 26 | -7.14 | [ ](/checkout \"Click to Unlock\") \n2025-04-18 | 13F | [ DHJJ Financial Advisors, Ltd. ](/i/dhjj-financial-advisors-ltd) | | | [ ](/checkout \"Click to Unlock\") | 200 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-01-17 | 13F | [ Westside Investment Management, Inc. ](/i/westside-investment-management) | | | [ ](/checkout \"Click to Unlock\") | 3,600 | 38.46 | 7 | 16.67 | [ ](/checkout \"Click to Unlock\") \n2025-02-06 | 13F | [ Steward Partners Investment Advisory, Llc ](/i/steward-partners-investment-advisory) | | | [ ](/checkout \"Click to Unlock\") | 8,657 | 0.06 | 17 | -5.56 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ UBS Group AG ](/i/ubs) | | | [ ](/checkout \"Click to Unlock\") | 90,235 | 119.31 | 182 | 102.22 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Group One Trading, L.p. ](/i/group-one-trading) | | | [ ](/checkout \"Click to Unlock\") | 281,282 | 80.86 | 568 | 67.06 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ Kestra Advisory Services, LLC ](/i/kestra-advisory-services-llc) | | | [ ](/checkout \"Click to Unlock\") | 83,710 | 50.14 | 169 | 38.52 | [ ](/checkout \"Click to Unlock\") \n2025-02-10 | 13F | [ CI Private Wealth, LLC ](/i/ci-private-wealth-llc) | | | [ ](/checkout \"Click to Unlock\") | 100,637 | -0.03 | 203 | -7.73 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Islay Capital Management, Llc ](/i/islay-capital-management-llc) | | | [ ](/checkout \"Click to Unlock\") | 200 | 0.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Vanguard Group Inc ](/i/vanguard-group) | | | [ ](/checkout \"Click to Unlock\") | 7,524,599 | 0.60 | 15,132 | -8.50 | [ ](/checkout \"Click to Unlock\") \n2025-03-26 | NP | [ Dfa Investment Dimensions Group Inc - Va International Small Portfolio ](/i/dfa-investment-dimensions-group-inc-va-international-small-portfolio) This fund is a listed as child fund of Dimensional Fund Advisors Lp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 35,986 | 39.38 | 68 | 28.30 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Cresset Asset Management, LLC ](/i/cresset-asset-management) | | | [ ](/checkout \"Click to Unlock\") | 12,568 | -17.03 | 25 | -24.24 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Group One Trading, L.p. ](/i/group-one-trading) | | Put | [ ](/checkout \"Click to Unlock\") | 286,500 | -13.86 | 579 | -20.60 | [ ](/checkout \"Click to Unlock\") \n2025-02-13 | 13F | [ Stifel Financial Corp ](/i/stifel-financial) | | | [ ](/checkout \"Click to Unlock\") | 52,989 | -5.33 | 107 | -12.30 | [ ](/checkout \"Click to Unlock\") \n2025-02-14 | 13F | [ Group One Trading, L.p. ](/i/group-one-trading) | | Call | [ ](/checkout \"Click to Unlock\") | 723,800 | 45.05 | 1,462 | 33.88 | [ ](/checkout \"Click to Unlock\") \n2025-01-30 | 13F | [ Center for Financial Planning, Inc. ](/i/center-for-financial-planning-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-04-01 | NP | [ TOKE - Cambria Cannabis ETF ](/i/cambria-etf-trust-cambria-cannabis-etf) | | | [ ](/checkout \"Click to Unlock\") | 319,029 | 0.00 | 606 | -9.01 | [ ](/checkout \"Click to Unlock\") \n2025-03-26 | NP | [ DFA INVESTMENT DIMENSIONS GROUP INC - World ex U.S. Targeted Value Portfolio Institutional Class ](/i/dfa-investment-dimensions-group-inc-world-ex-u-s-targeted-value-portfolio-institutional-class) This fund is a listed as child fund of Dimensional Fund Advisors Lp and if that institution has disclosed ownership in this security, then these positions will not be double counted when calculating total shares and total value | | | [ ](/checkout \"Click to Unlock\") | 21,600 | -38.01 | 41 | -39.39 | [ ](/checkout \"Click to Unlock\") \n2025-02-12 | 13F | [ CIBC Private Wealth Group, LLC ](/i/atlantic-trust-group-llc) | | | [ ](/checkout \"Click to Unlock\") | 2,250 | 12.50 | 5 | 0.00 | [ ](/checkout \"Click to Unlock\") \n2025-02-05 | 13F | [ Cape Investment Advisory, Inc. ](/i/cape-investment-advisory-inc) | | | [ ](/checkout \"Click to Unlock\") | 0 | -100.00 | 0 | | [ ](/checkout \"Click to Unlock\") \n2025-02-11 | 13F | [ Simplex Trading, Llc ](/i/simplex-trading-llc) | | Put | [ ](/checkout \"Click to Unlock\") | 383,800 | 13.38 | 1 | | [ ](/checkout \"Click to Unlock\") \n \nFintel data has been cited in the following publications:\n\n\u00a9 2015-2025 Fintel Ventures LLC. All rights reserved. Fintel\u00ae is a registered\ntrademark.\n\n * [ Privacy Policy ](/privacy)\n * [ Terms and Conditions ](/terms)\n\nThis website is provided \u201cas is\u201d without any representations or warranties,\nexpress or implied. Fintel makes no representations or warranties in relation\nto this website or the information and materials provided on this website.\nNothing on this website constitutes, or is meant to constitute, advice of any\nkind. If you require advice in relation to any financial matter you should\nconsult an appropriate professional.\n\nThe inclusion of Interactive Brokers\u2019 (IBKR) name, logo or weblinks is present\npursuant to an advertising arrangement only. IBKR is not a contributor,\nreviewer, provider or sponsor of content published on this site, and is not\nresponsible for the accuracy of any products or services discussed\n\n[ ](/feed/news)\n\nAbout Fintel\n\n * [ Writing Team ](/authors)\n * [ Webinars ](https://www.youtube.com/c/FintelNews)\n\nTop Investors\n\n * [ Berkshire Hathaway ](/i/berkshire-hathaway)\n * [ Scion Asset Management ](/i/scion-asset-management-llc)\n * [ Baker Brothers ](/i/baker-bros-advisors-lp)\n * [ Point72 ](/i/point72-asset-management)\n * [ Starboard Value ](/i/starboard-value-lp)\n * [ Tiger Global ](/i/tiger-global-management-llc)\n * [ Jane Street ](/i/jane-street-group-llc)\n * [ Two Sigma ](/i/two-sigma-investments-llc)\n * [ Oaktree Capital ](/i/oaktree-capital-management-lp)\n * [ Cerberus Capital ](/i/cerberus-capital-management-l-p)\n\nFeatures\n\n * [ Pre-Built Screens ](/pre-built-screens)\n * [ Short Interest Data ](/short-interest-data)\n * [ Institutional Trading Data ](/institutional-ownership-data)\n * [ Insider Trading Data ](/insider-trading-data)\n * [ SEC Filings ](/sec-filings)\n * [ Stock Screener ](/stock-screener)\n\nExplore\n\n * [ Workbench ](/wb)\n * [ Portfolio Builder ](/cpb)\n * [ Insider Overview ](/insiders)\n * [ Global Dividends ](/sd)\n * [ Sample Screens ](/screens)\n\nHelp Center\n\n * [ Manage Your Subscription ](https://billing.stripe.com/p/login/fZe3e74tv1HC0nK7ss)\n * [ Visit Help Center ](https://fintelio.atlassian.net/servicedesk/customer/portals)\n * [ General Support ](https://fintel.io/team/welcome)\n * [ Account Support ](https://fintelio.atlassian.net/servicedesk/customer/portal/1/group/1)\n\n",
"url": "https://fintel.io/so/us/cron"
},
"reason": "This page provides stock ownership information for Cronos Group (CRON) on Fintel, a financial data provider.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Stock ownership information for Cronos Group (CRON) on Fintel",
"url": "https://fintel.io/so/us/cron"
},
{
"content": {
"metadata": {
"ext_id": "63ee7178-cee1-4f65-b382-0e23e137a475",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27534239/cronos-group-inc-announces-results-of-reconvened-2024-annual-meeting-of-shareholders/"
},
"page_content": "Skip to main content\n\n * [ TSX 0.69 % ](https://www.theglobeandmail.com/investing/markets/indices/TXCX/)\n * [ S&P 500 1.67 % ](https://www.theglobeandmail.com/investing/markets/indices/INX/)\n * [ DOW 1.07 % ](https://www.theglobeandmail.com/investing/markets/indices/DOWI/)\n * [ NASDAQ 2.5 % ](https://www.theglobeandmail.com/investing/markets/indices/NASX/)\n * [ Oil 1.06 % ](https://www.theglobeandmail.com/investing/markets/commodities/CL*0/)\n * [ Dollar 0.19 % ](https://www.theglobeandmail.com/investing/markets/currencies/CADUSD/)\n * [ Gold 1.42 % ](https://www.theglobeandmail.com/investing/markets/commodities/GC*0/)\n * [ tsx movers: ](/investing/markets/stocks/)\n * [ WCP-T -1.84 % ](https://www.theglobeandmail.com/investing/markets/stocks/WCP-T/)\n * [ CNQ-T -0.74 % ](https://www.theglobeandmail.com/investing/markets/stocks/CNQ-T/)\n * [ BTE-T -2.56 % ](https://www.theglobeandmail.com/investing/markets/stocks/BTE-T/)\n * [ BMO-T \\+ 0.44 % ](https://www.theglobeandmail.com/investing/markets/stocks/BMO-T/)\n\nThis section contains press releases and other materials from third parties\n(including paid content). The Globe and Mail has not reviewed this content.\nPlease see [ disclaimer ](https://www.theglobeandmail.com/privacy-\nterms/disclaimer/) .\n\n# Cronos Group Inc. Announces Results of Reconvened 2024 Annual Meeting of\nShareholders\n\nCronos Group Inc. - [ GlobeNewswire ](https://www.globenewswire.com/) \\- Mon\nJul 22, 2024\n\nTORONTO, July 22, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) announces that at its Annual Meeting\nof Shareholders (the \u201cMeeting\u201d) reconvened July 19, 2024, approximately 98.6%\nof shareholders voting in person or by proxy approved the appointment of\nDavidson & Company LLP as the Company\u2019s independent auditor for fiscal year\n2024 and authorized the Board of Directors of the Company to fix the\nindependent auditor's remuneration. \n\nFor complete results on all matters voted on at the Meeting, please see the\nReport of Voting Results filed on the Company\u2019s SEDAR+ profile at\nwww.sedarplus.com and the Company\u2019s Form 8-K filed on EDGAR at\nwww.sec.gov/edgar.\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit:\nthecronosgroup.com.\n\n**For further information, please contact:** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\nAll [ market data (will open in new tab)\n](https://www.barchart.com/solutions/data/market) is provided by Barchart\nSolutions. Copyright \u00a9 2025 .\n\nInformation is provided 'as is' and solely for informational purposes, not for\ntrading purposes or advice. For exchange delays and terms of use, please read\n[ disclaimer (will open in new tab)\n](https://www.barchart.com/solutions/company/terms-and-privacy) .\n\n * [ Terms & Conditions ](/privacy-terms/terms-and-conditions/?intcmp=footer)\n * [ Community Guidelines ](/privacy-terms/community-guidelines/?intcmp=footer)\n * [ Privacy Policy ](/privacy-terms/privacy-policy/?intcmp=footer)\n * [ Disclaimer ](/privacy-terms/disclaimer/?intcmp=footer)\n\nSkip footer navigation\n\n * Subscribe \n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n * Business services \n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n * Contact us \n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n * Reader services \n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n * About us \n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\n## Subscribe\n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n## Business services\n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n## Contact us\n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n## Reader services\n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n## About us\n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\nReturn to start of footer navigation\n\n[ ](https://itunes.apple.com/ca/app/the-globe-and-mail-news/id429228415?mt=8)\n[\n](https://play.google.com/store/apps/details?id=com.theglobeandmail.headliner&hl=en)\n\n[ ](https://news.google.com/publications/CAAqBwgKMNLRigEwpPYu) [\n](https://apple.news/T8DrF3Bh5SHCSfJ2qlK1scA) [\n](https://twitter.com/globeandmail) [ ](https://www.linkedin.com/company/the-\nglobe-and-mail/) [ ](https://www.youtube.com/user/TheGlobeandMail) [\n](https://www.tiktok.com/@globeandmail) [\n](https://www.facebook.com/theglobeandmail) [\n](https://instagram.com/globeandmail) [\n](https://story.snapchat.com/p/f9c37a38-b555-4c37-a97a-598423457108)\n\n\u00a9 Copyright 2025 The Globe and Mail Inc. All rights reserved.\n\n351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1\n\nAndrew Saunders, President and CEO\n\n *[\n ON\n ]: Ontario\n\n",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27534239/cronos-group-inc-announces-results-of-reconvened-2024-annual-meeting-of-shareholders/"
},
"reason": "This is a press release from The Globe and Mail regarding Cronos Group's annual meeting results, providing direct and verifiable information.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Cronos Group Inc. Announces Results of Reconvened 2024 Annual Meeting of Shareholders",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27534239/cronos-group-inc-announces-results-of-reconvened-2024-annual-meeting-of-shareholders/"
},
{
"content": {
"metadata": {
"ext_id": "59625970-066a-49dc-93d7-f71eb571d53e",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
"page_content": "Skip to content\n\n# Settlement Agreement: In the Matter of Cronos Group Inc. and William Hilson\n\nOctober 19, 2022\n\nSettlement Agreement\n\n[ Download PDF ](/sites/default/files/2022-10/set_20221019_cronos.pdf \"Open\nPDF in new window\")\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\n#### SETTLEMENT AGREEMENT\n\n#### PART I -- INTRODUCTION\n\n1\\. Ontario companies strive to be world leaders in the cannabis space. When\npublic cannabis companies issue financial statements that do not provide\naccurate information about their financial performance and condition and fail\nto have adequate controls, they undermine confidence in Ontario's capital\nmarkets and leadership in the cannabis space.\n\n2\\. Cronos Group Inc., an Ontario-based public cannabis company, is being held\naccountable for improperly recognizing $7.6 million (US $5.8 million) in\nrevenue in its Q1, Q2 and Q3 2019 interim financial statements and for\nsubsequently overstating virtually all of its U.S. goodwill and a significant\nportion of its U.S. intangible assets by a collective amount of $234.9 million\nin its Q2 2021 interim financial statements.\n\n3\\. Cronos restated its Q1, Q2 and Q3 2019 interim financial statements to\ncorrect the revenue recognition error upon determining that they had not been\nprepared in accordance with generally accepted accounting principles (\n**GAAP** ). The Company again restated its interim financial statements, this\ntime for Q2 2021, to correct its failure to recognize impairment charges for\ngoodwill and intangible assets relating to the U.S. reporting unit. In both\ninstances, Cronos reported related material weaknesses in internal control\nover financial reporting ( **ICFR** ).\n\n4\\. The parties will jointly file a request that the Capital Markets Tribunal\n(the **Tribunal** ) issue a Notice of Hearing to announce it will hold a\nhearing to consider whether, pursuant to section 127 of the _Securities Act_ ,\nRSO 1990, c S.5 (the **Act** ), it is in the public interest for the Tribunal\nto make certain orders against the Respondent.\n\n#### PART II -- JOINT SETTLEMENT RECOMMENDATION\n\n5\\. Cronos Group Inc. ( **Cronos** , the **Company** , or the **Respondent**\n), consents to the making of an order (the **Order** ) substantially in the\nform attached as Schedule \"A\" to this Settlement Agreement based on the facts\nset out in this Settlement Agreement.\n\n6\\. For the purposes of this proceeding, and any other regulatory proceeding\ncommenced by a Canadian securities regulatory authority only, the Respondent\nagrees with the facts set out in Part III of this Settlement Agreement and the\nconclusion in Part IV of this Settlement Agreement.\n\n#### PART III -- AGREED FACTS\n\n**A. Cronos Uncovers Revenue Recognition Errors in Financial Reporting**\n\n7\\. On February 24, 2020, Cronos publicly announced that it was delayed in\ncompleting its 2019 annual financial statements and that it would delay its\n2019 fourth quarter and full-year earnings release and conference call.\n\n8\\. Cronos is a licensed cannabis producer in Canada with international\nproduction and distribution. The Company is listed on the TSX (CRON) and\nNASDAQ (CRON) with a market capitalization of $1.19 billion as of August 29,\n2022. Cronos's brand portfolio includes Peace Naturals, Spinach and hemp-\nderived CBD brands, Lord Jones, Happy Dance and Peace+.\n\n9\\. On March 2, 2020, Cronos disclosed that it filed a Form 12b-25\n(Notification of Late Filing) with the U.S. Securities and Exchange Commission\n( **SEC** ) for a 15-day extension of the due date to file its Form 10-K for\nthe year ended December 31, 2019. The Company disclosed that it had been\nunable to complete its financial statements for fiscal 2019 due to a\ncontinuing review by the Audit Committee (the **Audit Committee** ) of the\nCompany's Board of Directors (the **Board** ), with the assistance of outside\ncounsel and forensic accountants, of several bulk resin purchases and sales of\nproducts through the wholesale channel (the **Transactions)** and the\nappropriateness of the recognition of revenue from the Transactions.\n\n10\\. On March 17, 2020, Cronos filed a Material Change Report with the OSC and\nannounced that, on the recommendation of its Audit Committee and after\nconsultation with its auditors, its previously issued unaudited interim\nfinancial statements for the first, second and third quarters of 2019 would be\nrestated and reissued and should no longer be relied upon.\n\n11\\. The Company disclosed that its Audit Committee had been conducting a\nreview of the Transactions and the restatement was being made to eliminate\ncertain of these transactions. It announced that it would reduce revenue by\n$2.5 million (US $1.9 million) for the three months ended March 31, 2019, and\nby $5.1 million (US $3.9 million) for the three months ended September 30,\n2019. The Company further disclosed that, in connection with the restatement,\nit anticipated that it would report one or more material weaknesses in ICFR\nwhen it filed its Form 10-K.\n\n12\\. On March 30, 2020, the Company announced that the Audit Committee had\ncompleted its review of the Transactions and that the Board had determined, on\nthe recommendation of the Audit Committee and advice from its auditor, that\nthe Company would restate its unaudited interim financial statements for the\nfirst, second and third quarters of 2019.\n\n13\\. Cronos filed the restated interim financial statements on March 30, 2020.\n\n14\\. The restated interim financial statements disclosed that the Audit\nCommittee review had concluded that there were accounting errors in the\npreviously issued interim financial statements for the first and third\nquarters of 2019 (Q1 2019 and Q3 2019, respectively). In particular, the\nCompany reduced revenue for the three months ended March 31, 2019, by $2.5\nmillion (US $1.9 million) and the three months ended September 30, 2019, by\n$5.1 million (US $3.9 million).\n\n**a. Q1 2019 Revenue Recognition Errors**\n\n15\\. In the three months ended March 31, 2019, the revenue recognition error\nwas due to one wholesale transaction that was inappropriately accounted for as\nrevenue in the Company's originally issued interim financial statements for Q1\n2019. The transaction involved the exchange of cannabis dry flower for\ncannabis resin, with a third party, in two simultaneous transactions entered\ninto in contemplation of one another.\n\n16\\. This transaction did not meet the criteria for revenue recognition in\naccordance with GAAP, in this case International Financial Reporting Standards\n( **IFRS** ). The standard applicable to revenue recognition for the\ntransaction was IFRS 15, _Revenue from Contracts with Customers._\n\n17\\. This transaction lacked commercial substance and therefore revenue should\nnot have been recognized. As a result, Cronos had overstated revenue by\napproximately $2.5 million (US $1.9 million) on the Consolidated Statements of\nOperations and Comprehensive Income (Loss) in the original Q1 2019 interim\nfinancial statements.\n\n**b. Q3 2019 Revenue Recognition Errors**\n\n18\\. During the three months ended September 30, 2019, there was a similar\nwholesale transaction involving the exchange of cannabis dry flower for\ncannabis extracts in three simultaneous transactions which were entered into\nin contemplation of one another with the same third party.\n\n19\\. This transaction did not meet the criteria for revenue recognition in\naccordance with GAAP, in this case IFRS. This transaction lacked commercial\nsubstance and therefore revenue should not have been recognized. As a result,\nCronos had overstated revenue by approximately $2.1 million (US $1.6 million)\non the Consolidated Statements of Operations and Comprehensive Income (Loss)\nin the original interim financial statements for the three and nine months\nended September 30, 2019.\n\n20\\. During the three months ended September 30, 2019, there was a further\nwholesale transaction for a sale of dried cannabis to a different third party\nfor which revenue was improperly recognized.\n\n21\\. This further wholesale transaction did not meet the criteria for revenue\nrecognition in accordance with IFRS 15 because it was deemed to be a\nconsignment sale and lacked commercial substance. As a result, Cronos had\noverstated revenue by approximately $3.0 million (US $2.3 million) on the\nConsolidated Statements of Operations and Comprehensive Income (Loss) in the\nQ3 2019 interim financial statements.\n\n**c. Material Weaknesses in ICFR: March 2020**\n\n22\\. On March 30, 2020, the Company filed Amended and Restated Management's\nDiscussion and Analysis of Financial Condition and Results of Operations (\n**MD &A ** ) for the first, second and third quarters of 2019.\n\n23\\. Each of the MD&A for the first, second and third quarters of 2019\ndisclosed that as of the end of the reporting period, due to material\nweaknesses, ICFR was not effective to provide reasonable assurance regarding\nthe reliability of financial reporting and the preparation of financial\nstatements in accordance with applicable accounting standards.\n\n24\\. A material weakness is a deficiency, or combination of deficiencies in\nICFR, such that there is a reasonable possibility that a material misstatement\nof the Company's annual or interim financial statements will not be prevented\nor detected on a timely basis.\n\n25\\. Cronos identified material weaknesses in the following areas:\n\n> (a) _Segregation of Duties_ : The Company did not maintain adequately\n> designed controls on segregation of purchase and sale responsibilities to\n> ensure accurate recognition of revenue in accordance with IFRS;\n>\n> (b) _Non-Routine Transactions_ : The Company's controls were not effective\n> to ensure that non-routine transactions, including deviations from\n> contractually established sales terms, were authorized, communicated,\n> identified, and evaluated for their potential effect on revenue recognition;\n> and\n>\n> (c) _Risk Assessment:_ The Company did not appropriately design controls to\n> monitor and respond to changes in its business in relation to their\n> transactions in the wholesale market.\n\n26\\. Because of the segregation of duties and non-routine transaction\ndeficiencies, the Company restated its interim financial statements in respect\nof the Transactions to correct the identified misstatements. While the risk\nassessment deficiency did not directly result in a misstatement, it was a\ncontributing factor in the other material weaknesses described above.\n\n27\\. Together, these deficiencies created a reasonable possibility that a\nmaterial misstatement to the consolidated financial statements would not have\nbeen prevented or detected on a timely basis.\n\n**B. Cronos Uncovers Errors in Goodwill and Indefinite-Lived Tangible Assets**\n\n28\\. On November 9, 2021, Cronos publicly announced that it had been unable to\ncomplete its interim financial statements for the three and nine months ended\nSeptember 30, 2021 because its Audit Committee required additional time to\nevaluate goodwill and indefinite-lived intangible assets. Cronos also\nannounced that it expected to record an impairment charge of not less than US\n$220 million on goodwill and indefinite-lived intangible assets for the three\nand six months ended June 30, 2021.\n\n29\\. On the same date, Cronos filed a Material Change Report with the OSC, in\nwhich it stated that on the recommendation of its Audit Committee and after\nconsultation with its auditor, the Company would be required to restate its\npreviously issued unaudited interim financial statements for the three and six\nmonth period ending June 30, 2021, and that those financial statements should\nno longer be relied upon. The Company also filed Forms 8-K and 12b-25 with\nboth the OSC and the SEC.\n\n30\\. On February 18, 2022, Cronos filed restated interim financial statements\nand an Amended and Restated MD&A for the three and six month period ending\nJune 30, 2021 as the previously filed financial statements had not been\nprepared in accordance with GAAP, in this case US GAAP. Cronos disclosed that\nit had performed an interim impairment test on its U.S. reporting unit and the\nLord Jones brand, as of June 30, 2021, to determine whether the carrying\namount of the reporting unit and indefinite-lived intangible asset, the Lord\nJones brand, exceeded their respective fair values. As a result of its\nanalyses, the Company concluded that it should have recorded an impairment\ncharge of US $234.9 million on goodwill and indefinite-lived intangible assets\nrelated to its U.S. reporting unit.\n\n**C. Material Weaknesses in ICFR: February 2022**\n\n31\\. On February 18, 2022, the Company disclosed that its ICFR was ineffective\ndue to the existence of material weaknesses. The material weaknesses\ncontributed to the failure to accurately recognize the value of its goodwill\nand indefinite-lived intangible assets. Specifically, the Company:\n\n> (a) did not ensure that senior accounting personnel engaged consistently in\n> appropriate professional conduct and conduct consistent with the Company's\n> code of business conduct and ethics; and\n>\n> (b) lacked accounting personnel with appropriate level of knowledge and\n> experience in US GAAP.\n\n**D. MITIGATING FACTORS**\n\n32\\. The following mitigating factors are relevant to Cronos' revenue\nrecognition errors stemming from material weaknesses in ICFR:\n\n> (a) _Cronos' Investigation_ \\-- Cronos had mechanisms in place for employees\n> to submit internal tips and complaints. In addition, Cronos promptly took\n> steps to evaluate employee complaints, including by conducting an internal\n> investigation under the supervision of its Audit Committee, which eventually\n> led to the discovery of material accounting errors in the first and third\n> quarters of 2019;\n>\n> (b) _Co-operation_ \\-- Upon learning of the potential for material\n> accounting errors in previously filed reports, and prior to the completion\n> of its internal investigation, Cronos promptly reported information to the\n> OSC related to potential violations of securities laws in the first quarter\n> and third quarter of 2019 and cooperated with the OSC. Cronos provided\n> timely updates to the OSC and voluntarily produced documents, reports, and\n> other materials, including factual information learned during the course of\n> its internal investigation into the material accounting errors. Cronos\n> further facilitated interviews of current and former officers and employees,\n> including individuals residing outside of Canada;\n>\n> (c) _Restatement_ \\-- On March 30, 2020, Cronos filed amended and restated\n> interim financial statements and MD&A; and\n>\n> (d) _Remediation_ \\-- Cronos identified and implemented several enhancements\n> to remediate the identified weaknesses in ICFR, including developing and\n> implementing new internal accounting controls, developing a new training\n> program regarding accounting related matters, and hiring additional staff\n> with familiarity with applicable accounting requirements.\n\n33\\. The following mitigating factors are relevant to Cronos' failure to\nimpair goodwill and indefinite-lived intangible assets stemming from material\nweaknesses in ICFR:\n\n> a. _Cronos' Investigation_ \\-- Cronos had mechanisms in place for employees\n> to submit internal tips and complaints. In addition, Cronos promptly took\n> steps to evaluate a complaint submitted by an employee, including by\n> conducting an internal investigation under the supervision of its Audit\n> Committee, which eventually led to the discovery of material accounting\n> errors in the second quarter of 2021;\n>\n> b. _Co-operation_ \\-- Upon learning of the potential for material accounting\n> errors in reports previously filed with the OSC and SEC, and prior to the\n> completion of its internal investigation, Cronos promptly self-reported to\n> OSC and SEC staff information related to potential violations of securities\n> laws in the first quarter and third quarter of 2019. The Company applied for\n> a management cease trade order and fully cooperated with OSC, including by\n> providing all requested information promptly and in a transparent manner.\n> Cronos provided timely updates to OSC staff and voluntarily produced\n> documents, reports, and other materials, including factual information\n> learned during the course of its internal investigation into the material\n> accounting errors;\n>\n> c. _Restatement_ \\-- On February 18, 2022, Cronos filed amended and restated\n> interim financial statements and MD&A for the second quarter of 2021; and\n>\n> d. _Remediation_ \\-- Cronos undertook remedial measures upon learning of the\n> material accounting errors, including developing and implementing new\n> internal accounting controls, developing a new training program regarding\n> accounting related matters, and hiring additional staff with familiarity\n> with applicable GAAP requirements.\n\n#### PART IV -- NON-COMPLIANCE WITH ONTARIO SECURITIES LAW [AND/OR] CONDUCT\nCONTRARY TO THE PUBLIC INTEREST\n\n34\\. By engaging in the conduct described above, the Respondent acknowledges\nand admits that:\n\n> (a) the Respondent failed to file interim financial statements prepared in\n> accordance with applicable GAAP, contrary to s. 77 of the _Act_ ; and\n>\n> (b) the Respondent acted in a manner contrary to the public interest\n\n#### PART VI -- TERMS OF SETTLEMENT\n\n35\\. The Respondent agrees to the terms of settlement set forth below.\n\n36\\. The Respondent consents to the Order substantially in the form attached\nto this Settlement Agreement as Schedule \"A\", pursuant to which it is ordered\nthat:\n\n> (a) this Settlement Agreement is approved;\n>\n> (b) the Respondent pay an administrative penalty in the amount of $1,300,000\n> by wire transfer before the commencement of the Settlement Hearing, pursuant\n> to paragraph 9 of subsection 127(1) of the Act;\n>\n> (c) Cronos shall submit to a review by an independent consultant, acceptable\n> to the Commission and paid for by Cronos, of practices and procedures\n> including Cronos' compliance with requirements relating to ICFR, the terms\n> of which are set forth in Schedule \"A\" to the Order, and institute such\n> changes as the independent consultant recommends; and\n>\n> (d) the Respondent pay costs in the amount of $40,000 by wire transfer\n> before the commencement of the Settlement Hearing, pursuant to section 127.1\n> of the Act.\n\n37\\. The Respondent consents to a regulatory order made by any provincial or\nterritorial securities regulatory authority in Canada containing any or all of\nthe sanctions set out in paragraph 36, other than subparagraphs 36 (b) and\n(d). The applicable sanctions may be modified to reflect the provisions of the\nrelevant provincial or territorial securities law.\n\n38\\. The Respondent acknowledges that this Settlement Agreement and the Order\nmay form the basis for orders of parallel effect (but, for clarity, without\nduplication of the sanctions set out in subparagraphs 36 (b) and (d)) in other\njurisdictions in Canada. The securities laws of some other Canadian\njurisdictions allow orders made in this matter to take effect in those other\njurisdictions automatically, without further notice to the Respondent. The\nRespondent should contact the securities regulator of any other jurisdiction\nin which the Respondent intends to engage in any securities- or derivatives-\nrelated activities, prior to undertaking such activities.\n\n#### PART VII -- FURTHER PROCEEDINGS\n\n39\\. If the Tribunal approves this Settlement Agreement, no enforcement\nproceeding will be commenced or continued against the Respondent under Ontario\nsecurities law based on the misconduct described in Part III of this\nSettlement Agreement, unless the Respondent fails to comply with any term in\nthis Settlement Agreement.\n\n40\\. If the Respondent fails to comply with any term in this Settlement\nAgreement, enforcement proceedings under Ontario securities law may be brought\nagainst the Respondent.\n\n41\\. The Respondent waives any defences to a proceeding referenced in\nparagraph 39 or 40 that are based on the limitation period in the Act,\nprovided that no such proceeding shall be commenced later than six years from\nthe date of the occurrence of the last failure to comply with this Settlement\nAgreement.\n\n#### PART VIII -- PROCEDURE FOR APPROVAL OF SETTLEMENT\n\n42\\. The parties will seek approval of this Settlement Agreement at the\nSettlement Hearing before the Tribunal, which shall be held on a date\ndetermined by Registrar, Governance & Tribunal Secretariat of the Commission\nin accordance with this Agreement and the Tribunal's _Rules of Procedure and\nForms_ .\n\n43\\. Representatives of the Respondent will attend the Settlement Hearing by\nvideo conference.\n\n44\\. The parties confirm that this Settlement Agreement sets forth all facts\nthat will be submitted at the Settlement Hearing, unless the parties agree\nthat additional facts should be submitted at the Settlement Hearing.\n\n45\\. If the Tribunal approves this Settlement Agreement:\n\n> (a) the Respondent irrevocably waives all rights to a full hearing, judicial\n> review or appeal of this matter under the Act; and\n>\n> (b) neither party will make any public statement that is inconsistent with\n> this Settlement Agreement or with any additional agreed facts submitted at\n> the Settlement Hearing.\n\n46\\. Whether or not the Tribunal approves this Settlement Agreement, the\nRespondent will not use, in any proceeding, this Settlement Agreement or the\nnegotiation or process of approval of this Settlement Agreement as the basis\nfor any attack on the Tribunal's jurisdiction, alleged bias, alleged\nunfairness or any other remedies or challenges that may be available.\n\n#### PART IX -- DISCLOSURE OF SETTLEMENT AGREEMENT\n\n47\\. If the Tribunal does not make the Order:\n\n> (a) this Settlement Agreement and all discussions and negotiations between\n> the parties before the Settlement Hearing will be without prejudice to\n> either party; and\n>\n> (b) the parties will each be entitled to all available proceedings, remedies\n> and challenges, including proceeding to a hearing on the merits of the\n> allegations contained in the Statement of Allegations in respect of the\n> Proceeding. Any such proceedings, remedies and challenges will not be\n> affected by this Settlement Agreement, or by any discussions or negotiations\n> relating to this Settlement Agreement.\n\n48\\. The parties will keep the terms of this Settlement Agreement confidential\nuntil the Tribunal approves the Settlement Agreement, except as is necessary\nto make submissions at the Settlement Hearing. If, for whatever reason, the\nTribunal does not approve the Settlement Agreement, the terms of the\nSettlement Agreement shall remain confidential indefinitely, unless the\nparties otherwise agree in writing or if required by law.\n\n#### PART X -- EXECUTION OF SETTLEMENT AGREEMENT\n\n49\\. This Settlement Agreement may be signed in one or more counterparts which\ntogether constitute a binding agreement.\n\n50\\. An electronic copy of any signature will be as effective as an original\nsignature.\n\n**DATED at Toronto, Ontario, this 17th day of October, 2022.**\n\n**CRONOS GROUP INC.**\n\nI have authority to bind the Corporation.\n\n\"Terry Doucet\"\n\nSenior Vice President, Legal, Regulatory Affairs and Corporate Secretary\n\n**DATED at Toronto, Ontario, this 19 day of October, 2022.**\n\n**ONTARIO SECURITIES COMMISSION**\n\n\"Jeff Kehoe\"\n\nDirector, Enforcement Branch\n\n#### SCHEDULE \"A\"\n\n#### FORM OF ORDER\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\nFile No.\n\n_(Names of panelists comprising the panel)_\n\n_(Day and date order made)_\n\n#### ORDER (Sections 127 and 127.1 of the _Securities Act,_ RSO 1990, c. S.5)\n\n**WHEREAS** on [ **date** ] the Capital Markets Tribunal held a hearing by\nvideoconference to consider the request for approval of settlement agreement\ndated **[date** ] (the **Settlement Agreement** );\n\n**ON READING** the Joint Application for Settlement Hearing, including the\nStatement of Allegations dated [ **date** ] and the Settlement Agreement, the\nwritten submissions, and on hearing the submissions of representatives of each\nof the parties, and on considering Cronos Group Inc. ( **Cronos** ) having\nmade payment of each of $1,300,000 and $40,000 to the Commission in accordance\nwith the terms of the Settlement Agreement,\n\n**IT IS ORDERED** that:\n\n> 1\\. the Settlement Agreement is approved;\n>\n> 2\\. Cronos shall pay an administrative penalty of $1,300,000 to the\n> Commission by wire transfer before the commencement of the Settlement\n> Hearing pursuant to paragraph 9 of subsection 127(1) of the Act;.\n>\n> 3\\. Cronos shall submit to a review by an independent consultant acceptable\n> to the Commission and paid for by Cronos of practices and procedures\n> including Cronos' compliance with requirements relating to ICFR, the terms\n> of which are set forth in Schedule \"A\" to this Order, and institute such\n> changes as the independent consultant recommends; and\n>\n> 4\\. Cronos shall pay costs of the Commission's investigation in the amount\n> of $40,000 by wire transfer before the commencement of the Settlement\n> Hearing pursuant to section 127.1 of the Act.\n\n____________________ | \n---|--- \n[Adjudicator] | \n____________________ | ____________________ \n[Adjudicator] | [Adjudicator] \n \n#### SCHEDULE \"A\"\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\n#### TERMS AND CONDITIONS OF INDEPENDENT REVIEW OF PRACTICES AND PROCEDURES\n\nThis document is made in connection with the settlement agreement dated [date]\n(the **Settlement Agreement** ) in File No. [XXX]. All terms in this document\nhave the same meaning as in the Settlement Agreement.\n\nCronos shall:\n\n> 1\\. Retain, within thirty (30) days of the date of the Order, at its own\n> expense a qualified independent consultant (the **Consultant** ) not\n> unacceptable to the OSC, to review the Respondent's internal accounting\n> controls and ICFR. The Consultant's review and evaluation shall include an\n> assessment of the following:\n>\n\n>> (a) The effectiveness of Cronos' internal accounting controls in light of\nCronos' business strategy. The review shall include, but not be limited to, a\nreview of the Company's policies, procedures, and controls, relating to (i)\nrevenue recognition, including in its wholesale channel and non-routine\ntransactions, and (ii) the assessment and testing of goodwill and intangible\nassets for impairment;\n\n>>\n\n>> (b) Cronos' compliance with Ontario securities laws related to ICFR,\nincluding but not limited to, the adequacy of Cronos' control environment and\nrisk assessment based upon criteria established in the Internal Control --\nIntegrated Framework (2013) by the Committee of Sponsoring Organizations of\nthe Treadway Commission ( **COSO** );\n\n>>\n\n>> (c) Cronos' employment of a sufficient number of accounting and finance\npersonnel with an understanding of applicable GAAP and financial reporting\nrequirements, as well as the reporting lines of accounting and finance\npersonnel to management and the Board of Directors; and\n\n>>\n\n>> (d) Cronos' training of its employees on matters related to applicable GAAP\nas well as financial reporting requirements.\n\n>\n> 2\\. Provide, within forty-five (45) days of the date of this Order, a copy\n> of the engagement letter detailing the Consultant's responsibilities to a\n> Manager of the Enforcement Branch of the OSC.\n>\n> 3\\. Require the Consultant, at the conclusion of the review, which in no\n> event shall be more than 120 days after the date of the Order, to submit a\n> report of the Consultant to the Respondent and a Manager of the Corporate\n> Finance Branch of the OSC. The report shall address the Consultant's\n> findings and shall include a description of the review performed, the\n> conclusions reached, and the Consultant's recommendations for changes or\n> improvements.\n>\n> 4\\. Adopt, implement, and maintain all policies, procedures and practices\n> recommended in the report of the Consultant within 120 days of receiving the\n> report from the Consultant. As to any of the Consultant's recommendations\n> about which the Respondent and the Consultant do not agree, such parties\n> shall attempt in good faith to reach agreement within 180 days of the date\n> of the date of the Order. In the event that the Respondent and the\n> Consultant are unable to agree on an alternative proposal, the Respondent\n> will abide by the determination of the Consultant and adopt those\n> recommendations deemed appropriate by the Consultant.\n>\n> 5\\. Cooperate fully with the Consultant in its review, including making such\n> information and documents available as the Consultant may reasonably\n> request, and by permitting and requiring the Respondent's employees and\n> agents to supply such information and documents as the Consultant may\n> reasonably request, subject to any applicable privilege.\n>\n> 6\\. To ensure the independence of the Consultant, the Respondent (i) shall\n> not have received legal, auditing, or other services from, or have had any\n> affiliations with, the Consultant during the two years prior to the date of\n> this Order; (ii) shall not have the authority to terminate the Consultant\n> without prior written approval of the OSC; and (iii) shall compensate the\n> Consultant for services rendered pursuant to the Order at their reasonable\n> and customary rates.\n>\n> 7\\. Require the Consultant to enter into an agreement that provides that for\n> the period of engagement and for a period of two years from completion of\n> the engagement, the Consultant shall not enter into any employment,\n> consultant, attorney-client, auditing or other professional relationship\n> with Respondent, or any of its present or former affiliates, directors,\n> officers, employees, or agents acting in their capacity. The agreement will\n> also provide that the Consultant will require that any firm with which they\n> are affiliated or of which they are a member, and any person engaged to\n> assist the Consultant in performance of their duties under this order shall\n> not, without prior written consent of the OSC, enter into any employment,\n> consultant, attorney-client, auditing or other professional relationship\n> with the Respondent, or any of its present or former affiliates, directors,\n> officers, employees, or agents acting in their capacity as such for the\n> period of engagement and for a period of two years after the engagement.\n>\n> 8\\. The reports by the Consultant will likely include confidential\n> financial, proprietary, competitive business or commercial information.\n> Public disclosure of the reports could discourage cooperation, impede\n> pending or potential government investigations or undermine the objectives\n> of the reporting requirement. For these reasons, among others, the reports\n> and the contents thereof are intended to remain and shall remain non-public,\n> except (1) pursuant to court order, (2) as agreed to by the parties in\n> writing, (3) to the extent that the OSC determines in its sole discretion\n> that disclosure would be in furtherance of the OSC's discharge of its duties\n> and responsibilities, or (4) is otherwise required by law.\n>\n> 9\\. Require the Consultant to report to a Manager of the Enforcement Branch\n> of the OSC on its activities as the OSC may request.\n>\n> 10\\. Respondent agrees that the OSC may extend any of the dates set forth\n> above at its discretion.\n>\n> 11\\. Certify, in writing, compliance with the requirements(s) set forth\n> above. The certification shall identify the requirements(s), provide written\n> evidence of compliance in the form of a narrative, and be supported by\n> exhibits sufficient to demonstrate compliance. The OSC may make reasonable\n> request for further evidence of compliance, and the Respondent agrees to\n> provide such evidence. The certification and reporting material shall be\n> submitted to the Manager of the Corporate Finance Branch of the OSC no later\n> than thirty days (30) from the date of the completion of the requirements.\n\n * [ Fran\u00e7ais ](/fr/instances/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson)\n\n### Your feedback matters\n\n[ ](https://osc.ca) [ ](/en)\n\n[ Subscribe to our updates ](/en/news/subscribe)\n\n## Connect with us:\n\n * [ ](https://www.linkedin.com/company/ontario-securities-commission \"Follow us on Linkedin\")\n * [ ](https://www.x.com/OSC_News \"Follow us on Twitter\")\n * [ ](/en/rss-feeds \"Follow us on RSS\")\n\n\u00ae Ontario Securities Commission 2025\n\n[ ](/)\n\n * [ Fran\u00e7ais ](/fr/instances/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson)\n\n",
"url": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
"reason": "This is a settlement agreement involving Cronos Group Inc., providing direct and verifiable legal information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Settlement agreement involving Cronos Group Inc.",
"url": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
{
"content": {
"metadata": {
"ext_id": "3903abd0-8fec-4456-a7d2-bd59956ce5f7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://ca.linkedin.com/jobs/view/sourcing-manager-at-cronos-group-4096157955"
},
"page_content": "Skip to main content\n\nGet notified when a new job is posted.\n\n## Sign in to set job alerts for \u201cSenior Sourcing Manager\u201d roles.\n\n## Welcome back\n\n` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=public_jobs_contextual-sign-in-\nmodal_sign-in-modal_auth-button_user-agreement) , [ Privacy Policy\n](/legal/privacy-policy?trk=public_jobs_contextual-sign-in-modal_sign-in-\nmodal_auth-button_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=public_jobs_contextual-sign-in-modal_sign-in-modal_auth-\nbutton_cookie-policy) .\n\nNew to LinkedIn? [ Join now ](https://www.linkedin.com/signup/cold-\njoin?source=jobs_registration&trk=public_jobs_contextual-sign-in-modal_sign-\nin-modal_join-link)\n\nor\n\nNew to LinkedIn? [ Join now ](https://www.linkedin.com/signup/cold-\njoin?source=jobs_registration&trk=public_jobs_contextual-sign-in-modal_join-\nlink)\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=linkedin-tc_auth-button_user-agreement)\n, [ Privacy Policy ](/legal/privacy-policy?trk=linkedin-tc_auth-\nbutton_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=linkedin-tc_auth-button_cookie-policy) .\n\n# 2,000+ Senior Sourcing Manager Jobs in United States\n\n * [ Sr. Sourcing Manager - Global Business Services ](https://www.linkedin.com/jobs/view/sr-sourcing-manager-global-business-services-at-albertsons-companies-4178007244?position=1&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=CpYpOtL%2FXX7nNNHoc8xmsw%3D%3D)\n\n### Sr. Sourcing Manager - Global Business Services\n\n#### [ Albertsons Companies\n](https://www.linkedin.com/company/albertsons?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nBoise Metropolitan Area 2 weeks ago\n\n * [ Senior Director, Strategic Sourcing ](https://www.linkedin.com/jobs/view/senior-director-strategic-sourcing-at-freshworks-4183856364?position=2&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=pWPz5oHeaeMh9ElUVAAJpg%3D%3D)\n\n### Senior Director, Strategic Sourcing\n\n#### [ Freshworks ](https://www.linkedin.com/company/freshworks-\ninc?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nSan Mateo, FL\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Director, Sourcing Western Hemisphere ](https://www.linkedin.com/jobs/view/director-sourcing-western-hemisphere-at-carhartt-4205507075?position=3&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=fgPrMX3rI5Sv%2F%2Fah92swug%3D%3D)\n\n### Director, Sourcing Western Hemisphere\n\n#### [ Carhartt\n](https://www.linkedin.com/company/carhartt?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nDearborn, MI\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Director of Global Sourcing ](https://www.linkedin.com/jobs/view/director-of-global-sourcing-at-insight-global-4195238299?position=4&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=cUfT2xm3WVri2H%2FF11doaQ%3D%3D)\n\n### Director of Global Sourcing\n\n#### [ Insight Global ](https://www.linkedin.com/company/insight-\nglobal?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nBrooklyn, NY\n\nMedical insurance +3 benefits\n\n3 weeks ago\n\n * [ Strategic Sourcing Manager - Wearables, Display and Optics ](https://www.linkedin.com/jobs/view/strategic-sourcing-manager-wearables-display-and-optics-at-meta-4179984343?position=5&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=HNL%2Fpo5eOfU8rm9LPM64uA%3D%3D)\n\n### Strategic Sourcing Manager - Wearables, Display and Optics\n\n#### [ Meta ](https://www.linkedin.com/company/meta?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nRedmond, WA\n\nBe an early applicant\n\n1 week ago\n\n * [ Strategic Sourcing Manager - Wearables, Display and Optics ](https://www.linkedin.com/jobs/view/strategic-sourcing-manager-wearables-display-and-optics-at-meta-4179984342?position=6&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=gM3gzqNsEA6s3VLbEa3zSg%3D%3D)\n\n### Strategic Sourcing Manager - Wearables, Display and Optics\n\n#### [ Meta ](https://www.linkedin.com/company/meta?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nSunnyvale, CA\n\nBe an early applicant\n\n1 week ago\n\n * [ Strategic Sourcing Manager - Marketing ](https://www.linkedin.com/jobs/view/strategic-sourcing-manager-marketing-at-meta-4185258694?position=7&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=hB3lCWbyV9sSZv3plGymdA%3D%3D)\n\n### Strategic Sourcing Manager - Marketing\n\n#### [ Meta ](https://www.linkedin.com/company/meta?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nAustin, TX\n\nBe an early applicant\n\n1 week ago\n\n * [ Sr. Director, Sourcing ](https://www.linkedin.com/jobs/view/sr-director-sourcing-at-hubbell-incorporated-4201065130?position=8&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=KoPbY107hicuqvd6DiKJ9Q%3D%3D)\n\n### Sr. Director, Sourcing\n\n#### [ Hubbell Incorporated\n](https://www.linkedin.com/company/hubbellincorporated?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nSt Louis, MO\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Senior Director, Strategic Sourcing ](https://www.linkedin.com/jobs/view/senior-director-strategic-sourcing-at-freshworks-4137041009?position=9&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=o%2Bf7tS7nCzboEm6Txc55%2BQ%3D%3D)\n\n### Senior Director, Strategic Sourcing\n\n#### [ Freshworks ](https://www.linkedin.com/company/freshworks-\ninc?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nSan Mateo, CA 3 weeks ago\n\n * [ Senior Logistics Procurement Manager ](https://www.linkedin.com/jobs/view/senior-logistics-procurement-manager-at-roku-4188375888?position=10&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=Km003Hd3ECYdxrZWuJZsMA%3D%3D)\n\n### Senior Logistics Procurement Manager\n\n#### [ Roku ](https://www.linkedin.com/company/roku?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nAustin, TX 1 week ago\n\n * [ Global Director of Sourcing ](https://www.linkedin.com/jobs/view/global-director-of-sourcing-at-stanadyne-4193261825?position=11&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=QXHprhU%2FfleUCUiu1AZypA%3D%3D)\n\n### Global Director of Sourcing\n\n#### [ Stanadyne\n](https://www.linkedin.com/company/stanadyne?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nBlythewood, SC\n\nBe an early applicant\n\n4 weeks ago\n\n * [ Director, Commodity Management and Sourcing ](https://www.linkedin.com/jobs/view/director-commodity-management-and-sourcing-at-cubic-corporation-4142645307?position=12&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=8KCnrEvTOZTNAH%2FYrdFyGA%3D%3D)\n\n### Director, Commodity Management and Sourcing\n\n#### [ Cubic Corporation\n](https://www.linkedin.com/company/cubic?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nUnited States 2 weeks ago\n\n * [ Senior Director Strategic Sourcing ](https://www.linkedin.com/jobs/view/senior-director-strategic-sourcing-at-dsj-global-4190951417?position=13&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=favFsTb0U6xwPlruyzh8tw%3D%3D)\n\n### Senior Director Strategic Sourcing\n\n#### [ DSJ Global ](https://uk.linkedin.com/company/dsj-\nglobal?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nAtlanta, GA 4 weeks ago\n\n * [ Director, Global Strategic Sourcing ](https://www.linkedin.com/jobs/view/director-global-strategic-sourcing-at-legrand-north-america-4153876380?position=14&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=gNnUw4eu%2F6HBWmLTvLBCGA%3D%3D)\n\n### Director, Global Strategic Sourcing\n\n#### [ Legrand, North America ](https://www.linkedin.com/company/legrand-\nnorth-america?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nReno, NV\n\nBe an early applicant\n\n2 months ago\n\n * [ Strategic Sourcing Manager - Marketing ](https://www.linkedin.com/jobs/view/strategic-sourcing-manager-marketing-at-meta-4185258695?position=15&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=W%2FB2mQE5tZxi%2FSwKlzGPUQ%3D%3D)\n\n### Strategic Sourcing Manager - Marketing\n\n#### [ Meta ](https://www.linkedin.com/company/meta?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nMenlo Park, CA\n\nBe an early applicant\n\n1 week ago\n\n * [ Director Strategic Sourcing ](https://www.linkedin.com/jobs/view/director-strategic-sourcing-at-honeywell-4208201988?position=16&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=LIzhcqbE8a535nfg1J6BiA%3D%3D)\n\n### Director Strategic Sourcing\n\n#### [ Honeywell\n](https://www.linkedin.com/company/honeywell?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nCharlotte, NC 1 week ago\n\n * [ Senior Procurement Manager - Indirect (Non IT) ](https://www.linkedin.com/jobs/view/senior-procurement-manager-indirect-non-it-at-carnival-corporation-4192573050?position=17&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=rwCJgGloi6iJ4vznsHr6gA%3D%3D)\n\n### Senior Procurement Manager - Indirect (Non IT)\n\n#### [ Carnival Corporation ](https://www.linkedin.com/company/carnival-\ncorporation?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nMiami, FL 3 days ago\n\n * [ Sourcing Director- Indirects ](https://www.linkedin.com/jobs/view/sourcing-director-indirects-at-lindt-spr%C3%BCngli-north-america-inc-4192748984?position=18&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=Q4b%2BZbGwmvrfcJTHJoWMBA%3D%3D)\n\n### Sourcing Director- Indirects\n\n#### [ Lindt & Spr\u00fcngli (North America) Inc.\n](https://www.linkedin.com/company/lindt-spr%C3%BCngli-north-\namerica?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nKansas City, MO\n\nBe an early applicant\n\n6 days ago\n\n * [ Sr. Sourcing Manager, Amazon Merch on Demand ](https://www.linkedin.com/jobs/view/sr-sourcing-manager-amazon-merch-on-demand-at-amazon-4193884779?position=19&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=bpdVYHA0XrVX2GGVke4OUQ%3D%3D)\n\n### Sr. Sourcing Manager, Amazon Merch on Demand\n\n#### [ Amazon\n](https://www.linkedin.com/company/amazon?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nCarrollton, TX\n\nBe an early applicant\n\n1 week ago\n\n * [ Sr. Director, Global Supply Chain and International Sourcing ](https://www.linkedin.com/jobs/view/sr-director-global-supply-chain-and-international-sourcing-at-henny-penny-4149945241?position=20&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=H4ZBHH8iJ6A%2FanjqUgBzVQ%3D%3D)\n\n### Sr. Director, Global Supply Chain and International Sourcing\n\n#### [ Henny Penny ](https://www.linkedin.com/company/henny-\npenny?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nEaton, OH\n\nMedical insurance +5 benefits\n\n6 days ago\n\n * [ Senior Strategic Sourcing Manager ](https://www.linkedin.com/jobs/view/senior-strategic-sourcing-manager-at-nrg-energy-4204069185?position=21&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=QRGGts6LLYbsK39%2Bw%2F3BRw%3D%3D)\n\n### Senior Strategic Sourcing Manager\n\n#### [ NRG Energy\n](https://www.linkedin.com/company/nrgenergy?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nUtah, United States\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Director, Global Strategic Sourcing ](https://www.linkedin.com/jobs/view/director-global-strategic-sourcing-at-legrand-north-america-4209907105?position=22&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=x5oPx%2BywsG9pZHNGzOMZUg%3D%3D)\n\n### Director, Global Strategic Sourcing\n\n#### [ Legrand, North America ](https://www.linkedin.com/company/legrand-\nnorth-america?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nCanonsburg, PA 5 days ago\n\n * [ Global Director of Sourcing ](https://www.linkedin.com/jobs/view/global-director-of-sourcing-at-pure-power-technologies-llc-a-stanadyne-company-4195760043?position=23&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=glOgiPKE%2Fu667rYSrgluQg%3D%3D)\n\n### Global Director of Sourcing\n\n#### [ Pure Power Technologies, LLC A Stanadyne Company\n](https://www.linkedin.com/company/purepower-technologies-\ninc?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nBlythewood, SC\n\nBe an early applicant\n\n4 weeks ago\n\n * [ Senior Procurement Manager - Indirect (Non IT) ](https://www.linkedin.com/jobs/view/senior-procurement-manager-indirect-non-it-at-carnival-cruise-line-4203664643?position=24&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=679KBghdzNA5gZ0e7NxYiQ%3D%3D)\n\n### Senior Procurement Manager - Indirect (Non IT)\n\n#### [ Carnival Cruise Line ](https://www.linkedin.com/company/carnival-\ncruise-line?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nMiami, FL\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Senior Logistics Procurement Manager ](https://www.linkedin.com/jobs/view/senior-logistics-procurement-manager-at-roku-4188375889?position=25&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=epn04j%2BTMH2s%2BHAKeryNqw%3D%3D)\n\n### Senior Logistics Procurement Manager\n\n#### [ Roku ](https://www.linkedin.com/company/roku?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nSan Jose, CA\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Divisional Procurement/Sourcing Director ](https://www.linkedin.com/jobs/view/divisional-procurement-sourcing-director-at-vida-group-international-4201142317?position=26&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=jdSUGp9Gs06Kp%2BkFTnO02Q%3D%3D)\n\n### Divisional Procurement/Sourcing Director\n\n#### [ Vida Group International\n](https://www.linkedin.com/company/vidagroupinternational?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nDallas-Fort Worth Metroplex 2 weeks ago\n\n * [ Procurement Operations Manager ](https://www.linkedin.com/jobs/view/procurement-operations-manager-at-toast-4205850913?position=27&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=wskgmhwdpxY1KvUvT4%2BG5A%3D%3D)\n\n### Procurement Operations Manager\n\n#### [ Toast ](https://www.linkedin.com/company/toast-\ninc?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nUnited States 14 hours ago\n\n * [ Director, Procurement Sourcing ](https://www.linkedin.com/jobs/view/director-procurement-sourcing-at-raymond-james-4149090804?position=28&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=LmjsiNn525H7fwP8DWHxaA%3D%3D)\n\n### Director, Procurement Sourcing\n\n#### [ Raymond James ](https://www.linkedin.com/company/raymond-james-\nfinancial-inc-?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nSt. Petersburg, FL 1 week ago\n\n * [ SENIOR SOURCING MANAGER ](https://www.linkedin.com/jobs/view/senior-sourcing-manager-at-duke-university-4186420712?position=29&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=y4sfCpTO9yuzTGm9CkJ1cQ%3D%3D)\n\n### SENIOR SOURCING MANAGER\n\n#### [ Duke University ](https://www.linkedin.com/school/duke-\nuniversity/?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nDurham, NC\n\nBe an early applicant\n\n1 month ago\n\n * [ Director, Sourcing & Procurement ](https://www.linkedin.com/jobs/view/director-sourcing-procurement-at-sterling-specialty-chemicals-4201835357?position=30&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=6%2FpEcmirq81zk5a1lY4ZlA%3D%3D)\n\n### Director, Sourcing & Procurement\n\n#### [ Sterling Specialty Chemicals\n](https://www.linkedin.com/company/sterling-specialty-\nchemicals?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nHouston, TX 2 weeks ago\n\n * [ Director, Sourcing ](https://www.linkedin.com/jobs/view/director-sourcing-at-implus-4204957778?position=31&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=6F%2F941eQzFyGWgTypt%2BlCA%3D%3D)\n\n### Director, Sourcing\n\n#### [ Implus\n](https://www.linkedin.com/company/implus?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nUnited States\n\nMedical insurance +6 benefits\n\n1 week ago\n\n * [ Sr Sourcing Manager Indirect Operations ](https://www.linkedin.com/jobs/view/sr-sourcing-manager-indirect-operations-at-reynolds-american-inc-4202145593?position=32&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=P5cLNRYZbje8RLFZozO7Xw%3D%3D)\n\n### Sr Sourcing Manager Indirect Operations\n\n#### [ Reynolds American Inc.\n](https://www.linkedin.com/company/reynoldsamericaninc?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nClarksville, TN\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Director of Strategic Sourcing ](https://www.linkedin.com/jobs/view/director-of-strategic-sourcing-at-fpc-of-greensboro-nc-4179643592?position=33&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=7TJo1i7I8%2B4q0a4FGjGxWQ%3D%3D)\n\n### Director of Strategic Sourcing\n\n#### [ FPC of Greensboro, NC ](https://www.linkedin.com/company/fpc-of-\ngreensboro-nc?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nSacramento, CA\n\nBe an early applicant +4 benefits\n\n2 weeks ago\n\n * [ Sr Director, Strategic Sourcing ](https://www.linkedin.com/jobs/view/sr-director-strategic-sourcing-at-davita-kidney-care-4181954041?position=34&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=tQKPqsM9EeLxIpybHjRhkg%3D%3D)\n\n### Sr Director, Strategic Sourcing\n\n#### [ DaVita Kidney Care\n](https://www.linkedin.com/company/davita?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nDenver, CO\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Divisional Procurement/Sourcing Director (cables, motors, plastics) ](https://www.linkedin.com/jobs/view/divisional-procurement-sourcing-director-cables-motors-plastics-at-vida-group-international-4207106472?position=35&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=fvDjJC1nDR0EbMn%2Fq6GZgg%3D%3D)\n\n### Divisional Procurement/Sourcing Director (cables, motors, plastics)\n\n#### [ Vida Group International\n](https://www.linkedin.com/company/vidagroupinternational?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nGreater Chicago Area 1 week ago\n\n * [ Director Strategic Sourcing FF&E ](https://www.linkedin.com/jobs/view/director-strategic-sourcing-ff-e-at-dsj-global-4189832551?position=36&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=eOavVXyxjS4qZIQ9TFHI9w%3D%3D)\n\n### Director Strategic Sourcing FF&E\n\n#### [ DSJ Global ](https://uk.linkedin.com/company/dsj-\nglobal?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nOrlando, FL\n\nBe an early applicant\n\n3 weeks ago\n\n * [ Director, Enterprise Sourcing ](https://www.linkedin.com/jobs/view/director-enterprise-sourcing-at-wellington-management-4146192829?position=37&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=hzrY%2BFXC%2FwBoHbu2B1IDZA%3D%3D)\n\n### Director, Enterprise Sourcing\n\n#### [ Wellington Management ](https://www.linkedin.com/company/wellington-\nmanagement?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nBoston, MA\n\nBe an early applicant\n\n2 months ago\n\n * [ Director of Sourcing ](https://www.linkedin.com/jobs/view/director-of-sourcing-at-topix-skin-health-4208447524?position=38&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=dsv7%2FeO3f5JVHO0%2FUnvnLA%3D%3D)\n\n### Director of Sourcing\n\n#### [ TOPIX Skin Health ](https://www.linkedin.com/company/topix-\nbrands?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nAmityville, NY\n\nMedical insurance +3 benefits\n\n1 week ago\n\n * [ Procurement Director/Manager ](https://www.linkedin.com/jobs/view/procurement-director-manager-at-jd-com-4203048562?position=39&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=pwHAKtJGA7H5kAihvLOf3Q%3D%3D)\n\n### Procurement Director/Manager\n\n#### [ JD.COM ](https://cn.linkedin.com/company/jd.com?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nCity of Industry, CA\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Sr. Strategic Sourcing Mgr Marketing Excellence ](https://www.linkedin.com/jobs/view/sr-strategic-sourcing-mgr-marketing-excellence-at-mondel%C4%93z-international-4203483632?position=40&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=w9gHAvPiyev8IKCcjL9GjQ%3D%3D)\n\n### Sr. Strategic Sourcing Mgr Marketing Excellence\n\n#### [ Mondel\u0113z International\n](https://www.linkedin.com/company/mondelezinternational?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nEast Hanover, NJ\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Sr. Manager, Sustainable Sourcing - Product & Packaging ](https://www.linkedin.com/jobs/view/sr-manager-sustainable-sourcing-product-packaging-at-the-tjx-companies-inc-4173635441?position=41&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=GByJo5wIt%2Fi5Ym2ZSFAqjw%3D%3D)\n\n### Sr. Manager, Sustainable Sourcing - Product & Packaging\n\n#### [ The TJX Companies, Inc.\n](https://www.linkedin.com/company/tjx?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nMarlborough, MA\n\nMedical insurance +7 benefits\n\n3 weeks ago\n\n * [ (USA) Senior Manager, Sourcing - Regeneration ](https://www.linkedin.com/jobs/view/usa-senior-manager-sourcing-regeneration-at-walmart-4170698005?position=42&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=Ulf2OL6StV1o%2B9122f8NHA%3D%3D)\n\n### (USA) Senior Manager, Sourcing - Regeneration\n\n#### [ Walmart\n](https://www.linkedin.com/company/walmart?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nBentonville, AR\n\nBe an early applicant\n\n1 week ago\n\n * [ Strategic Sourcing Manager, Vice President ](https://www.linkedin.com/jobs/view/strategic-sourcing-manager-vice-president-at-mufg-4186533874?position=43&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=m3SjpGTiP5UfscdZXIxdNQ%3D%3D)\n\n### Strategic Sourcing Manager, Vice President\n\n#### [ MUFG ](https://jp.linkedin.com/company/mufg?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nJersey City, NJ\n\nBe an early applicant\n\n1 month ago\n\n * [ Sr. Purchasing Manager, Service ](https://www.linkedin.com/jobs/view/sr-purchasing-manager-service-at-rivian-4205779739?position=44&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=UjMrvYiGnBSr5tMDy7Gppw%3D%3D)\n\n### Sr. Purchasing Manager, Service\n\n#### [ Rivian\n](https://www.linkedin.com/company/rivian?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nPlymouth, MI\n\nBe an early applicant\n\n1 week ago\n\n * [ Director, Sourcing ](https://www.linkedin.com/jobs/view/director-sourcing-at-sbm-life-science-4142557048?position=45&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=kB9faapZi1Zs28WZsDbHVQ%3D%3D)\n\n### Director, Sourcing\n\n#### [ SBM Life Science\n](https://fr.linkedin.com/company/sbmlifescience?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nCary, NC 1 week ago\n\n * [ Procurement, Senior Manager: Marketing, Sales, and Global Partnership ](https://www.linkedin.com/jobs/view/procurement-senior-manager-marketing-sales-and-global-partnership-at-bacardi-4188893659?position=46&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=t5nouZsytB90r%2Fnw3aaGhg%3D%3D)\n\n### Procurement, Senior Manager: Marketing, Sales, and Global Partnership\n\n#### [ Bacardi\n](https://bm.linkedin.com/company/bacardi?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nMiami, FL\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Associate Director - Sourcing ](https://www.linkedin.com/jobs/view/associate-director-sourcing-at-eli-lilly-and-company-4199942501?position=47&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=GQVRh41EAMOLv1W7O5Dirw%3D%3D)\n\n### Associate Director - Sourcing\n\n#### [ Eli Lilly and Company ](https://www.linkedin.com/company/eli-lilly-\nand-company?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nIndianapolis, IN 46 minutes ago\n\n * [ Sr. Purchasing Manager, Raw Materials, Standard Components, and Bulk Products ](https://www.linkedin.com/jobs/view/sr-purchasing-manager-raw-materials-standard-components-and-bulk-products-at-rivian-4205785045?position=48&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=0bRPuCz3tB1Yrb9q0RVKQQ%3D%3D)\n\n### Sr. Purchasing Manager, Raw Materials, Standard Components, and Bulk\nProducts\n\n#### [ Rivian\n](https://www.linkedin.com/company/rivian?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nIrvine, CA\n\nBe an early applicant\n\n1 week ago\n\n * [ Global Lead Buyer (Senior Director) - Advanced Sourcing ](https://www.linkedin.com/jobs/view/global-lead-buyer-senior-director-advanced-sourcing-at-switch4-llc-4192695196?position=49&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=RmX%2FKXyEy0VrBiafbhljmw%3D%3D)\n\n### Global Lead Buyer (Senior Director) - Advanced Sourcing\n\n#### [ Switch4 LLC\n](https://www.linkedin.com/company/switch4?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nMorristown, NJ\n\nBe an early applicant\n\n1 month ago\n\n * [ Director, Enterprise Sourcing ](https://www.linkedin.com/jobs/view/director-enterprise-sourcing-at-wellington-management-4146191833?position=50&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=vmcATlt%2BI%2FO6WYGueSOAiw%3D%3D)\n\n### Director, Enterprise Sourcing\n\n#### [ Wellington Management ](https://www.linkedin.com/company/wellington-\nmanagement?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nNeedham, MA\n\nBe an early applicant\n\n2 months ago\n\n * [ Director, Strategic Sourcing and Procurement ](https://www.linkedin.com/jobs/view/director-strategic-sourcing-and-procurement-at-sps-commerce-4190997208?position=51&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=93pl4d%2BAstAZULujl2XKrg%3D%3D)\n\n### Director, Strategic Sourcing and Procurement\n\n#### [ SPS Commerce ](https://www.linkedin.com/company/sps-\ncommerce?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nMinneapolis, MN\n\nBe an early applicant\n\n1 week ago\n\n * [ Director Strategic Sourcing, FF&E ](https://www.linkedin.com/jobs/view/director-strategic-sourcing-ff-e-at-marriott-vacations-worldwide-4187177258?position=52&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=gtBtaBXEJAjb0K7wPum8Sw%3D%3D)\n\n### Director Strategic Sourcing, FF&E\n\n#### [ Marriott Vacations Worldwide\n](https://www.linkedin.com/company/marriottvacationsworldwide?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nOrlando, FL\n\nBe an early applicant\n\n1 month ago\n\n * [ Sourcing Director, Packaging ](https://www.linkedin.com/jobs/view/sourcing-director-packaging-at-ghirardelli-chocolate-company-4208838591?position=53&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=V%2Fr7QjZ%2FjCOr9AJeonReAw%3D%3D)\n\n### Sourcing Director, Packaging\n\n#### [ Ghirardelli Chocolate Company\n](https://www.linkedin.com/company/ghirardelli-chocolate-\ncompany?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nSan Leandro, CA\n\nBe an early applicant +6 benefits\n\n1 week ago\n\n * [ Senior Manager Strategic Sourcing - Major Projects ](https://www.linkedin.com/jobs/view/senior-manager-strategic-sourcing-major-projects-at-honeywell-4213646367?position=54&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=wi3dp3L%2Fz1dNSDXXrrBqfQ%3D%3D)\n\n### Senior Manager Strategic Sourcing - Major Projects\n\n#### [ Honeywell\n](https://www.linkedin.com/company/honeywell?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nDuluth, GA\n\nBe an early applicant +8 benefits\n\n21 hours ago\n\n * [ Strategic Sourcing Director ](https://www.linkedin.com/jobs/view/strategic-sourcing-director-at-fictiv-4146182929?position=55&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=x%2FQDDGqg3G2%2FVyk3C0GdUA%3D%3D)\n\n### Strategic Sourcing Director\n\n#### [ Fictiv\n](https://www.linkedin.com/company/fictiv?trk=public_jobs_jserp-result_job-\nsearch-card-subtitle)\n\nUnited States 1 week ago\n\n * [ Sr Manager Indirect Procurement Operations (Logistics) ](https://www.linkedin.com/jobs/view/sr-manager-indirect-procurement-operations-logistics-at-reynolds-american-inc-4202146548?position=56&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=WuCK9SNslLIlyBAIMv%2BFVQ%3D%3D)\n\n### Sr Manager Indirect Procurement Operations (Logistics)\n\n#### [ Reynolds American Inc.\n](https://www.linkedin.com/company/reynoldsamericaninc?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nWinston-Salem, NC\n\nBe an early applicant\n\n2 weeks ago\n\n * [ Senior Procurement Manager - Raw Proteins, Meats, & Packaging ](https://www.linkedin.com/jobs/view/senior-procurement-manager-raw-proteins-meats-packaging-at-smalls-4193021000?position=57&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=49AQ0d4uFw3TeLmBjBLA7w%3D%3D)\n\n### Senior Procurement Manager - Raw Proteins, Meats, & Packaging\n\n#### [ Smalls\n](https://www.linkedin.com/company/smallsforcats?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nUnited States 3 weeks ago\n\n * [ \u91c7\u8d2d\u603b\u76d1/Sourcing Director ](https://www.linkedin.com/jobs/view/%E9%87%87%E8%B4%AD%E6%80%BB%E7%9B%91-sourcing-director-at-longcheer-4198999947?position=58&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=nA0wKQSaviJcYB2wGhFVyw%3D%3D)\n\n### \u91c7\u8d2d\u603b\u76d1/Sourcing Director\n\n#### [ Longcheer\n](https://cn.linkedin.com/company/%E4%B8%8A%E6%B5%B7%E9%BE%99%E6%97%97%E7%A7%91%E6%8A%80%E8%82%A1%E4%BB%BD%E6%9C%89%E9%99%90%E5%85%AC%E5%8F%B8?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nSan Jose, CA\n\nBe an early applicant\n\n3 weeks ago\n\n * [ Director of Source & Supply ](https://www.linkedin.com/jobs/view/director-of-source-supply-at-circor-international-inc-4195490151?position=59&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=%2FpuUkFu0NMmTb9hmGir05Q%3D%3D)\n\n### Director of Source & Supply\n\n#### [ CIRCOR International, Inc. ](https://www.linkedin.com/company/circor-\ninternational-inc-?trk=public_jobs_jserp-result_job-search-card-subtitle)\n\nTampa, FL\n\nMedical insurance +3 benefits\n\n3 weeks ago\n\n * [ Global Sourcing Manager \u2013 System in Package (SiP) ](https://www.linkedin.com/jobs/view/global-sourcing-manager-%E2%80%93-system-in-package-sip-at-meta-4209527632?position=60&pageNum=0&refId=2yVkcEa6GYVhTSJbqStjPA%3D%3D&trackingId=jl%2FWnr6vwf%2FKTDL3TEXq%2Fw%3D%3D)\n\n### Global Sourcing Manager \u2013 System in Package (SiP)\n\n#### [ Meta ](https://www.linkedin.com/company/meta?trk=public_jobs_jserp-\nresult_job-search-card-subtitle)\n\nSunnyvale, CA\n\nBe an early applicant\n\n6 days ago\n\nYou've viewed all jobs for this search\n\n### Search similar titles\n\n * [ Senior Commodity Manager jobs ](https://www.linkedin.com/jobs/senior-commodity-manager-jobs?trk=public_jobs_similar-title)\n * [ Senior Procurement Analyst jobs ](https://www.linkedin.com/jobs/senior-procurement-analyst-jobs?trk=public_jobs_similar-title)\n * [ Senior Procurement Manager jobs ](https://www.linkedin.com/jobs/senior-procurement-manager-jobs?trk=public_jobs_similar-title)\n\n * * [ Senior Commodity Manager jobs ](https://www.linkedin.com/jobs/senior-commodity-manager-jobs?trk=public_jobs_linkster_link)\n * [ Senior Procurement Analyst jobs ](https://www.linkedin.com/jobs/senior-procurement-analyst-jobs?trk=public_jobs_linkster_link)\n * [ Senior Procurement Manager jobs ](https://www.linkedin.com/jobs/senior-procurement-manager-jobs?trk=public_jobs_linkster_link)\n * [ Global Sourcing Manager jobs ](https://www.linkedin.com/jobs/global-sourcing-manager-jobs?trk=public_jobs_linkster_link)\n * [ Commodity Buyer jobs ](https://www.linkedin.com/jobs/commodity-buyer-jobs?trk=public_jobs_linkster_link)\n * [ Category Development Manager jobs ](https://www.linkedin.com/jobs/category-development-manager-jobs?trk=public_jobs_linkster_link)\n * [ Sourcing Director jobs ](https://www.linkedin.com/jobs/sourcing-director-jobs?trk=public_jobs_linkster_link)\n * [ Sourcing Manager jobs ](https://www.linkedin.com/jobs/sourcing-manager-jobs?trk=public_jobs_linkster_link)\n * [ Industry Marketing Manager jobs ](https://www.linkedin.com/jobs/industry-marketing-manager-jobs?trk=public_jobs_linkster_link)\n * [ Global Sourcing Specialist jobs ](https://www.linkedin.com/jobs/global-sourcing-specialist-jobs?trk=public_jobs_linkster_link)\n * [ Sourcing Consultant jobs ](https://www.linkedin.com/jobs/sourcing-consultant-jobs?trk=public_jobs_linkster_link)\n * [ Senior Operations Program Manager jobs ](https://www.linkedin.com/jobs/senior-operations-program-manager-jobs?trk=public_jobs_linkster_link)\n * [ International Vitamin Corporation jobs ](https://www.linkedin.com/jobs/international-vitamin-corporation-jobs?trk=public_jobs_linkster_link)\n * [ HOMAGE jobs ](https://www.linkedin.com/jobs/homage-jobs?trk=public_jobs_linkster_link)\n * [ Senior Print Production Manager jobs ](https://www.linkedin.com/jobs/senior-print-production-manager-jobs?trk=public_jobs_linkster_link)\n\n * [ Strategic Sourcing Manager jobs ](https://www.linkedin.com/jobs/strategic-sourcing-manager-jobs?trk=public_jobs_linkster_link)\n * [ Commodity Manager jobs ](https://www.linkedin.com/jobs/commodity-manager-jobs?trk=public_jobs_linkster_link)\n * [ Milk Specialties Global jobs ](https://www.linkedin.com/jobs/milk-specialties-global-jobs?trk=public_jobs_linkster_link)\n * [ Sourcing Coordinator jobs ](https://www.linkedin.com/jobs/sourcing-coordinator-jobs?trk=public_jobs_linkster_link)\n * [ Global Supply Manager jobs ](https://www.linkedin.com/jobs/global-supply-manager-jobs?trk=public_jobs_linkster_link)\n * [ Gilbarco Veeder-Root jobs ](https://www.linkedin.com/jobs/gilbarco-veeder-root-jobs?trk=public_jobs_linkster_link)\n * [ Global Category Manager jobs ](https://www.linkedin.com/jobs/global-category-manager-jobs?trk=public_jobs_linkster_link)\n * [ Director of Procurement jobs ](https://www.linkedin.com/jobs/director-of-procurement-jobs?trk=public_jobs_linkster_link)\n * [ Senior Category Manager jobs ](https://www.linkedin.com/jobs/senior-category-manager-jobs?trk=public_jobs_linkster_link)\n * [ OSI Group jobs ](https://www.linkedin.com/jobs/osi-group-jobs?trk=public_jobs_linkster_link)\n * [ Category Management Specialist jobs ](https://www.linkedin.com/jobs/category-management-specialist-jobs?trk=public_jobs_linkster_link)\n * [ Director Category Management jobs ](https://www.linkedin.com/jobs/director-category-management-jobs?trk=public_jobs_linkster_link)\n * [ Hardware Manager jobs ](https://www.linkedin.com/jobs/hardware-manager-jobs?trk=public_jobs_linkster_link)\n * [ Category Manager jobs ](https://www.linkedin.com/jobs/category-manager-jobs?trk=public_jobs_linkster_link)\n * [ Eastridge Workforce Solutions jobs ](https://www.linkedin.com/jobs/eastridge-workforce-solutions-jobs?trk=public_jobs_linkster_link)\n\n * [ Packaging Buyer jobs ](https://www.linkedin.com/jobs/packaging-buyer-jobs?trk=public_jobs_linkster_link)\n * [ Director Global Sourcing jobs ](https://www.linkedin.com/jobs/director-global-sourcing-jobs?trk=public_jobs_linkster_link)\n * [ Director of Print Production jobs ](https://www.linkedin.com/jobs/director-of-print-production-jobs?trk=public_jobs_linkster_link)\n * [ Facilities Management Specialist jobs ](https://www.linkedin.com/jobs/facilities-management-specialist-jobs?trk=public_jobs_linkster_link)\n * [ Manager Account Management jobs ](https://www.linkedin.com/jobs/manager-account-management-jobs?trk=public_jobs_linkster_link)\n * [ Sourcing Lead jobs ](https://www.linkedin.com/jobs/sourcing-lead-jobs?trk=public_jobs_linkster_link)\n * [ Senior Production Manager jobs ](https://www.linkedin.com/jobs/senior-production-manager-jobs?trk=public_jobs_linkster_link)\n * [ Head of Procurement jobs ](https://www.linkedin.com/jobs/head-of-procurement-jobs?trk=public_jobs_linkster_link)\n * [ Procurement Officer jobs ](https://www.linkedin.com/jobs/procurement-officer-jobs?trk=public_jobs_linkster_link)\n * [ Director Strategic Sourcing jobs ](https://www.linkedin.com/jobs/director-strategic-sourcing-jobs?trk=public_jobs_linkster_link)\n * [ Category Director jobs ](https://www.linkedin.com/jobs/category-director-jobs?trk=public_jobs_linkster_link)\n * [ Utilities Specialist jobs ](https://www.linkedin.com/jobs/utilities-specialist-jobs?trk=public_jobs_linkster_link)\n * [ Procurement Manager jobs ](https://www.linkedin.com/jobs/procurement-manager-jobs?trk=public_jobs_linkster_link)\n * [ SpartanNash jobs ](https://www.linkedin.com/jobs/spartannash-jobs?trk=public_jobs_linkster_link)\n * [ The Gorilla Glue Company jobs ](https://www.linkedin.com/jobs/the-gorilla-glue-company-jobs?trk=public_jobs_linkster_link)\n\n * [ Hanesbrands Inc. jobs ](https://www.linkedin.com/jobs/hanesbrands-inc%2E-jobs?trk=public_jobs_linkster_link)\n * [ Senior Manager Strategic Sourcing jobs ](https://www.linkedin.com/jobs/senior-manager-strategic-sourcing-jobs?trk=public_jobs_linkster_link)\n * [ Mercury Systems jobs ](https://www.linkedin.com/jobs/mercury-systems-jobs?trk=public_jobs_linkster_link)\n * [ Heartland Dental jobs ](https://www.linkedin.com/jobs/heartland-dental-jobs?trk=public_jobs_linkster_link)\n * [ Chicago Public Schools jobs ](https://www.linkedin.com/jobs/chicago-public-schools-jobs?trk=public_jobs_linkster_link)\n * [ Exelixis jobs ](https://www.linkedin.com/jobs/exelixis-jobs?trk=public_jobs_linkster_link)\n * [ Garnet Hill jobs ](https://www.linkedin.com/jobs/garnet-hill-jobs?trk=public_jobs_linkster_link)\n * [ Purchasing Manager jobs ](https://www.linkedin.com/jobs/purchasing-manager-jobs?trk=public_jobs_linkster_link)\n * [ BJC Health System jobs ](https://www.linkedin.com/jobs/bjc-health-system-jobs?trk=public_jobs_linkster_link)\n * [ Procurement Lead jobs ](https://www.linkedin.com/jobs/procurement-lead-jobs?trk=public_jobs_linkster_link)\n * [ New Product Introduction Manager jobs ](https://www.linkedin.com/jobs/new-product-introduction-manager-jobs?trk=public_jobs_linkster_link)\n * [ Senior Buyer jobs ](https://www.linkedin.com/jobs/senior-buyer-jobs?trk=public_jobs_linkster_link)\n * [ Pilgrim's jobs ](https://www.linkedin.com/jobs/pilgrim%27s-jobs?trk=public_jobs_linkster_link)\n * [ System Software Engineer jobs ](https://www.linkedin.com/jobs/system-software-engineer-jobs?trk=public_jobs_linkster_link)\n * [ Public Sector jobs ](https://www.linkedin.com/jobs/public-sector-jobs?trk=public_jobs_linkster_link)\n\n * LinkedIn \u00a9 2025 \n * [ About ](https://about.linkedin.com?trk=public_jobs_footer-about)\n * [ Accessibility ](https://www.linkedin.com/accessibility?trk=public_jobs_footer-accessibility)\n * [ User Agreement ](https://www.linkedin.com/legal/user-agreement?trk=public_jobs_footer-user-agreement)\n * [ Privacy Policy ](https://www.linkedin.com/legal/privacy-policy?trk=public_jobs_footer-privacy-policy)\n * [ Your California Privacy Choices ](https://www.linkedin.com/legal/california-privacy-disclosure?trk=public_jobs_footer-california-privacy-rights-act)\n * [ Cookie Policy ](https://www.linkedin.com/legal/cookie-policy?trk=public_jobs_footer-cookie-policy)\n * [ Copyright Policy ](https://www.linkedin.com/legal/copyright-policy?trk=public_jobs_footer-copyright-policy)\n * [ Brand Policy ](https://brand.linkedin.com/policies?trk=public_jobs_footer-brand-policy)\n * [ Guest Controls ](https://www.linkedin.com/psettings/guest-controls?trk=public_jobs_footer-guest-controls)\n * [ Community Guidelines ](https://www.linkedin.com/legal/professional-community-policies?trk=public_jobs_footer-community-guide)\n * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * \n\n` ` ` ` ` ` ` ` ` ` ` `\n\n## Sign in to view more jobs\n\n## Welcome back\n\n` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=public_jobs_contextual-sign-in-\nmodal_sign-in-modal_auth-button_user-agreement) , [ Privacy Policy\n](/legal/privacy-policy?trk=public_jobs_contextual-sign-in-modal_sign-in-\nmodal_auth-button_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=public_jobs_contextual-sign-in-modal_sign-in-modal_auth-\nbutton_cookie-policy) .\n\nNew to LinkedIn? [ Join now ](https://www.linkedin.com/signup/cold-\njoin?source=jobs_registration&trk=public_jobs_contextual-sign-in-modal_sign-\nin-modal_join-link)\n\nor\n\nNew to LinkedIn? [ Join now ](https://www.linkedin.com/signup/cold-\njoin?source=jobs_registration&trk=public_jobs_contextual-sign-in-modal_join-\nlink)\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=linkedin-tc_auth-button_user-agreement)\n, [ Privacy Policy ](/legal/privacy-policy?trk=linkedin-tc_auth-\nbutton_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=linkedin-tc_auth-button_cookie-policy) .\n\n` `\n\n` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `\n\n",
"url": "https://ca.linkedin.com/jobs/view/sourcing-manager-at-cronos-group-4096157955"
},
"reason": "This is a job posting on LinkedIn for a position at Cronos Group, providing direct and official information about the company's hiring activities.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' customers stakeholders",
"summary": "Job posting at Cronos Group",
"url": "https://ca.linkedin.com/jobs/view/sourcing-manager-at-cronos-group-4096157955"
},
{
"content": {
"metadata": {
"ext_id": "af42c12f-de5b-4e55-b4fb-af855ebb3218",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/en/"
},
"page_content": "Please enable cookies.\n\n# Sorry, you have been blocked\n\n## You are unable to access 10web.com\n\n## Why have I been blocked?\n\nThis website is using a security service to protect itself from online\nattacks. The action you just performed triggered the security solution. There\nare several actions that could trigger this block including submitting a\ncertain word or phrase, a SQL command or malformed data.\n\n## What can I do to resolve this?\n\nYou can email the site owner to let them know you were blocked. Please include\nwhat you were doing when this page came up and the Cloudflare Ray ID found at\nthe bottom of this page.\n\nCloudflare Ray ID: **9355f07afba6d0ac** \u2022 Your IP: 34.96.35.23 \u2022\nPerformance & security by [ Cloudflare ](https://www.cloudflare.com/5xx-\nerror-landing)\n\n",
"url": "https://cronos-groep.be/en/"
},
"reason": "This is the official website of The Cronos Group, providing direct information about the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Official website of The Cronos Group.",
"url": "https://cronos-groep.be/en/"
},
{
"content": {
"metadata": {
"ext_id": "390796c6-42de-4ece-b45f-ee4bfa076e3e",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newcannabisventures.com/cronos-group-q1-revenue-decreases-3-sequentially-to-25-million/"
},
"page_content": "__\n\n \n\nMay 10, 2022 at 8:13 am\n\nPublished by NCV Newswire\n\n[\n](https://www.addtoany.com/add_to/facebook?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Fcronos-\ngroup-q1-revenue-decreases-3-sequentially-\nto-25-million%2F&linkname=Cronos%20Group%20Q1%20Revenue%20Decreases%203%25%20Sequentially%20to%20%2425%20Million\n\"Facebook\") [\n](https://www.addtoany.com/add_to/twitter?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Fcronos-\ngroup-q1-revenue-decreases-3-sequentially-\nto-25-million%2F&linkname=Cronos%20Group%20Q1%20Revenue%20Decreases%203%25%20Sequentially%20to%20%2425%20Million\n\"Twitter\") [\n](https://www.addtoany.com/add_to/linkedin?linkurl=https%3A%2F%2Fwww.newcannabisventures.com%2Fcronos-\ngroup-q1-revenue-decreases-3-sequentially-\nto-25-million%2F&linkname=Cronos%20Group%20Q1%20Revenue%20Decreases%203%25%20Sequentially%20to%20%2425%20Million\n\"LinkedIn\")\n\n****\n\n * **Consolidated net revenue increased by 99% year-over-year to $25.0 million in Q1 2022**\n * **Israel net revenue increased by 263% year-over-year to $9.1 million in Q1 2022**\n * **Increased market share in Canada and Israel in Q1 2022**\n * **Mike Gorenstein returned as Chief Executive Officer**\n\nTORONTO, May 10, 2022 (GLOBE NEWSWIRE) \u2014 [ Cronos Group Inc.\n](https://www.newcannabisventures.com/tag/cronos-group/) (NASDAQ: CRON) (TSX:\nCRON) (\u201cCronos Group\u201d or the \u201cCompany\u201d), today announces its 2022 first\nquarter business results.\n\n\u201cI founded Cronos because of the once-in-a-lifetime opportunity to help build\nand shape an industry that has the potential to improve countless lives. As\nCEO, I am committed to re-instilling a start-up culture with a founder\u2019s\nmentality across all levels of the organization,\u201d said Mike Gorenstein,\nChairman, President and CEO, Cronos Group. \u201cThe strategic realignment we\nannounced in the first quarter of 2022 reset the organization to this mindset\nand we are seeing the benefits show through in our performance.\u201d\n\n> Our execution in product development, manufacturing, and go to market\n> strategy resulted in strong growth in both net revenue and gross profit in\n> the first quarter of 2022, proving that we are headed in the right\n> direction. Our Spinach\u00ae brand is one of the most sought-after brands in the\n> Canadian adult-use market, known for bringing high quality and\n> differentiated products to the consumer. We are also winning with branded\n> products in Israel, with Peace Naturals\u00ae driving significant revenue growth\n> in the first quarter of 2022.\n\n#####\n\n> As we execute our strategic realignment, I am encouraged with the progress\n> we are making by increasing our market share in both Canada and Israel, and\n> continuing to bring disruptive branded products to market. In combination\n> with our industry leading balance sheet, our borderless products, such as\n> SOURZ by Spinach\u2122 winning in Canada, is one of the best ways to be prepared\n> for legalization in the U.S.\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-1.png) [\n](https://www.newcannabisventures.com/wp-content/uploads/2022/05/cronos-2.png)\n\n**First Quarter 2022**\n\n * Net revenue of $25.0 million in Q1 2022 increased by $12.4 million from Q1 2021. The increase year-over-year was primarily driven by an increase in net revenue in the Rest of World (\u201cROW\u201d) segment driven by growth in the Israeli medical market and the Canadian adult-use market. \n * Gross profit of $6.9 million in Q1 2022 improved by $9.9 million from Q1 2021. The improvement year-over-year was primarily driven by increased cannabis flower revenue in the ROW segment, the introduction of additional cannabis extract products in the ROW segment that carry a higher gross profit and gross margin than other product categories, lower inventory valuation adjustments, lower depreciation expense as a result of the lower fair value of the Peace Naturals Campus in connection with the impairment taken in Q4 2021, and lower cannabis biomass costs as we began to further leverage our joint venture with Cronos Growing Company Inc. (\u201cCronos GrowCo\u201d). \n * Adjusted EBITDA of $(18.9) million in Q1 2022 improved by $17.7 million from Q1 2021. The improvement year-over-year was primarily driven by the improvement in gross profit and a decrease in sales and marketing and research and development (\u201cR&D\u201d) expenses. \n * Capital expenditures of $0.7 million in Q1 2022 decreased by $6.3 million from Q1 2021. The decrease year-over-year was primarily driven by decreased spending on property, plant and equipment in the ROW segment. \n\n**Business Updates**\n\n**Strategic and Organizational Update**\n\nIn the first quarter of 2022, the Company initiated a strategic plan to\nrealign the business around its brands, centralize functions and evaluate the\nCompany\u2019s supply chain (the \u201cRealignment\u201d). The organizational and cost\nreduction initiatives undertaken are intended to better position Cronos Group\nto drive profitable and sustainable growth over time. The program consists of\nthe following:\n\n 1. Centralizing functions under common leadership to increase efficient distribution of resources, improve strategic alignment and eliminate duplicative roles and costs; \n 2. Evaluating the Company\u2019s global supply chain and reducing complexity and fixed expenses, which resulted in the announcement of the planned exit of the Peace Naturals Campus in Stayner, Ontario, and the Company\u2019s ongoing review of product, pricing and distribution optimization; and \n 3. Implementing an operating expense target to optimize cash deployment for activities such as margin accretive innovation and U.S. adult-use market entry. The overall strategic realignment initiative is expected to deliver $20 to $25 million in initially identified savings across operating expense categories in 2022, primarily driven by savings in sales and marketing, general and administrative, and research and development. \n\n**Brand and Product Portfolio**\n\nIn April 2022, the Company expanded its SOURZ by Spinach\u2122 gummy portfolio with\na new flavor, Cherry Lime, in a five piece per pack format with 2mg of THC per\npiece. The Company now has five SKUs in the gummy category across its SOURZ by\nSpinach\u2122 and Spinach FEELZ\u2122 sub-brands.\n\nSpinach\u00ae continues to organically grow market share across Canada, most\nnotably, Spinach\u00ae held an approximate 13% market share in the edibles\ncategory, which expands to approximately 17% within the gummy category during\nQ1 2022, according to Hifyre data. Furthermore, three out of the four SOURZ by\nSpinach\u2122 gummies ranked in the top-10 for market share in Canada in Q1 2022,\naccording to Hifyre data. Having launched its first gummy product in July\n2021, the consumer adoption of Spinach\u00ae gummies speaks to the strong\ninnovation Cronos Group is bringing to market. Furthermore, in April 2022, the\nSpinach\u00ae vape portfolio entered Ontario\u2019s top-10 in market share. The Company\nwill continue to launch new vape products in May, including Cosmic Green Apple\nand Polar Mint Vortex, across various provinces in an effort to continue to\nexpand market share within the category.\n\n**Global Supply Chain**\n\nIn the first quarter of 2022, the Company began to leverage Cronos GrowCo\u2019s\ncapabilities as part of the Realignment. These activities include, among\nothers, the transfer of certain manufacturing equipment to Cronos GrowCo from\nthe Peace Naturals Campus. In April 2022, the Company began building dedicated\nspace within Cronos GrowCo for various manufacturing and R&D activities.\n\nIn the first quarter of 2022, Cronos GrowCo reported preliminary unaudited net\nrevenue of approximately $7.0 million to licensed producers excluding sales to\nthe Company.\n\n**Appointments**\n\nIn March 2022, the Board of Directors appointed Cronos Group\u2019s founder, Mike\nGorenstein, as Chairman, President and Chief Executive Officer, in connection\nwith Kurt Schmidt\u2019s retirement. Mr. Gorenstein previously served as Chairman,\nPresident and Chief Executive Officer of Cronos Group until September 2020,\nwhen he transitioned to the Executive Chairman role.\n\nIn April 2022, the Company appointed Terry Doucet as Senior Vice President,\nLegal, Regulatory Affairs and Corporate Secretary, after serving in an interim\ncapacity since December 2021. Mr. Doucet has been with Cronos Group since 2018\nand has guided Cronos Group through significant growth over the last few\nyears, including the build-out of the Company\u2019s Legal and Regulatory Affairs\nteams, our strategic investment from Altria Group Inc., our R&D partnership\nwith Ginkgo Bioworks Holdings Inc. (the \u201cGinkgo Strategic Partnership\u201d), the\nPharmaCann Option (as defined below) and various product commercialization\ninitiatives.\n\n**Rest of World Results**\n\nCronos Group\u2019s ROW reporting segment includes results of the Company\u2019s\noperations for all markets outside of the U.S.\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-3-e1652183983938.png)\n\n**First Quarter 2022**\n\n * Net revenue of $22.7 million in Q1 2022 increased by $12.5 million from Q1 2021. The increase year-over-year was primarily driven by an increase in net revenue in the Israeli medical market largely attributable to the cannabis flower category and the Canadian adult-use market driven primarily by cannabis extracts used in edibles and vaporizers. \n * Gross profit of $6.7 million in Q1 2022 improved by $10.8 million from Q1 2021. The improvement year-over-year was primarily driven by increased cannabis flower revenue, the introduction of additional cannabis extract products that carry a higher gross profit and gross margin than other product categories, lower inventory valuation adjustments, lower depreciation expense as a result of the lower fair value of the Peace Naturals Campus in connection with the impairment taken in Q4 2021, and lower cannabis biomass costs as we began to further leverage our joint venture with Cronos GrowCo. \n\n**United States Results**\n\nCronos Group\u2019s U.S. reporting segment includes results of the Company\u2019s\noperations for all brands and products in the U.S.\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-4.png)\n\n**First Quarter 2022**\n\n * Net revenue of $2.3 million in Q1 2022 decreased by $0.1 million from Q1 2021. The decrease year-over-year was primarily driven by a reduction in volume as a result of a decrease in promotional spend as the Company works through its review of the U.S. business as part of the Realignment. \n * Gross profit of $0.2 million in Q1 2022 decreased by $1.0 million from Q1 2021. The decrease year-over-year was primarily due to increased inventory valuation adjustments, higher shipping costs and unfavorable sales mix. \n\n**Conference Call**\n\nThe Company will host a conference call and live audio webcast on Tuesday, May\n10, 2022, at 8:30 a.m. ET to discuss 2022 First Quarter business results. An\naudio replay of the call will be archived on the Company\u2019s website for replay.\nInstructions for the conference call are provided below:\n\n * _Live audio webcast:[ https://ir.thecronosgroup.com/events-presentations ](https://ir.thecronosgroup.com/events-presentations) _\n * _Toll-Free from the U.S. and Canada dial-in: (866) 795-2258_\n * _International dial-in: (409) 937-8902_\n * _Conference ID: 1888263_\n\n**About Cronos Group**\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos Group is building an iconic brand portfolio. Cronos Group\u2019s\ndiverse international brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae, Lord\nJones\u00ae, Happy Dance\u00ae and PEACE+\u2122. For more information about Cronos Group and\nits brands, please visit: [ thecronosgroup.com ](http://thecronosgroup.com) .\n\n**Cronos Group Inc.** \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts)_\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-5.png) [\n](https://www.newcannabisventures.com/wp-content/uploads/2022/05/cronos-6.png)\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-7.png) [\n](https://www.newcannabisventures.com/wp-content/uploads/2022/05/cronos-8.png)\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-9.png) [\n](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-10.png) [\n](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-11.png)\n\n**Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This press\nrelease refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis press release are reconciled to their closest reported U.S. GAAP measure.\nReconciliations of historical adjusted financial measures to corresponding\nU.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance of our operating segments. Management defines Adjusted\nEBITDA as net income (loss) before interest, tax expense, depreciation and\namortization adjusted for: share of loss from equity accounted investments;\nimpairment loss on goodwill and intangible assets; impairment loss on long-\nlived assets; (gain) loss on revaluation of derivative liabilities; (gain)\nloss on revaluation of financial instruments; transaction costs related to\nstrategic projects; impairment loss on other investments; foreign currency\ntransaction loss; other, net; loss from discontinued operations; restructuring\ncosts; share-based compensation; and review costs related to the restatements\nof the Company\u2019s 2019 and 2021 interim financial statements, including the\ncosts related to the Company\u2019s responses to the reviews of such interim\nfinancial statements by various regulatory authorities and legal costs\ndefending shareholder class action complaints brought against the Company as a\nresult of the 2019 restatement. Impairment loss on other investments has been\nincluded as an adjustment to Adjusted EBITDA due to the PharmaCann Option\nimpairment analysis. Foreign currency transaction loss has been included as an\nadjustment to Adjusted EBITDA for the anticipated settlement of intercompany\nloans. Additionally, restructuring costs have been included as an adjustment\nto Adjusted EBITDA in light of the Realignment and exit from the Stayner\nFacility.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-12.png) [\n](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-13.png)\n\n_(i) For the three months ended March 31, 2022, impairment loss on long-lived\nassets related to the Company\u2019s decision to seek a sublease for leased office\nspace located in Toronto, Ontario, Canada. For the three months ended March\n31, 2021, impairment loss on long-lived assets related to an impairment on\nleased premises in the U.S. segment._ \n_(ii) For the three months ended March 31, 2022 and 2021, (gain) loss on\nrevaluation of derivative liabilities represents the fair value changes on the\nderivative liabilities._ \n_(iii) For the three months ended March 31, 2021, transaction costs represent\nlegal, financial and other advisory fees and expenses incurred in connection\nwith various strategic investments. These costs are included in general and\nadministrative expenses on the condensed consolidated statements of net income\n(loss) and comprehensive income (loss)._ \n_(iv) For the three months ended March 31, 2022, gain on revaluation of\nfinancial instruments related primarily to the Company\u2019s equity securities in\nCronos Australia Limited. For the three months ended March 31, 2021, loss on\nrevaluation of financial instruments related primarily to revaluations of\nfinancial liabilities resulting from Deferred Share Units._ \n_(v) For the three months ended March 31, 2022, impairment loss on other\ninvestments related to the PharmaCann Option for the difference between its\nfair value and carrying amount._ \n_(vi) For the three months ended March 31, 2022 and 2021, other, net is\nprimarily related to (gain) loss on reclassification of held-for-sale assets\nand (gain) loss on disposal of assets._ \n_(vii) For the three months ended March 31, 2021, loss from discontinued\noperations related to the discontinuance of Original B.C. Ltd._ \n_(viii) For the three months ended March 31, 2022, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment and the exit of the Stayner Facility._ \n_(ix) For the three months ended March 31, 2022 and 2021, share-based\ncompensation related to the vesting expenses of share-based compensation\nawarded to employees under the Company\u2019s share-based award plans._ \n_(x) For the three months ended March 31, 2022 and 2021, financial statement\nreview costs include costs related to the restatements of the Company\u2019s 2019\nand second quarter 2021 interim financial statements, costs related to the\nCompany\u2019s responses to requests for information from various regulatory\nauthorities relating to such restatement and legal costs defending shareholder\nclass action complaints brought against the Company as a result of the 2019\nrestatement._\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars (\u201cUSD\u201d),\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to USD. The assets and liabilities of the Company\u2019s\nforeign operations are translated into USD at the exchange rate in effect as\nof March 31, 2022, March 31, 2021 and December 31, 2021. Transactions\naffecting shareholders\u2019 equity are translated at historical foreign exchange\nrates. The consolidated statements of net income (loss) and comprehensive\nincome (loss) and the consolidated statements of cash flows of the Company\u2019s\nforeign operations are translated into USD by applying the average foreign\nexchange rate in effect for the reporting period using Bloomberg.\n\nThe exchange rates used to translate from USD to Canadian dollars (\u201cC$\u201d) is\nshown below:\n\n[ ](https://www.newcannabisventures.com/wp-\ncontent/uploads/2022/05/cronos-14.png)\n\n[ Original press release ](http://thecronosgroup.gcs-web.com/news-\nreleases/news-release-details/cronos-group-reports-2022-first-quarter-results)\n\nPublished by NCV Newswire\n\nThe NCV Newswire by New Cannabis Ventures aims to curate high quality content\nand information about leading cannabis companies to help our readers filter\nout the noise and to stay on top of the most important cannabis business news.\nThe NCV Newswire is hand-curated by an editor and not automated in anyway.\nHave a confidential news tip? [ Get in touch\n](https://form.jotform.com/53395769996179) .\n\n \n\n## Get Our Sunday Newsletter\n\n## In This Article:\n\n**[ CRON ](https://www.newcannabisventures.com/tag/cron/) , [ Cronos Group\n](https://www.newcannabisventures.com/tag/cronos-group/) **\n\n## Related News:\n\n### [ Looking at the Cannabis Meltdown by Sub-Sector\n](https://www.newcannabisventures.com/looking-at-the-cannabis-meltdown-by-sub-\nsector/) ### [ Canadian Cannabis Sales Sank in January\n](https://www.newcannabisventures.com/canadian-cannabis-sales-sank-in-\njanuary/) ### [ One Cannabis Sub-Sector Rallied\n](https://www.newcannabisventures.com/one-cannabis-sub-sector-rallied/) ### [\nCanadian Cannabis Sales Soared in December\n](https://www.newcannabisventures.com/canadian-cannabis-sales-soar-in-\ndecember/)\n\n* * *\n\n* ### **Latest News**\n\nApril 24th, 2025\n\nYou\u2019re reading this week\u2019s edition of the New Cannabis...\n\nApril 17th, 2025\n\nYou\u2019re reading this week\u2019s edition of the New Cannabis...\n\n* ### **Get The App**\n\nDownload the free \u201cNew Cannabis Ventures\u201d app on the iOS App Store or Google\nPlay and get real-time push notifications straight to your phone on the latest\nbreaking news and exclusives published.\n\n* * *\n\n[ ](https://itunes.apple.com/us/app/ncv-news/id1123542865?ls=1&mt=8)\n\n[ ](https://play.google.com/store/apps/details?id=com.ncvnews.app.android)\n\n* ### **NCV Media**\n\n#### Thank you for reading\n\n#### New Cannabis Ventures\n\nContributing original content and curating quality news on only the most\npromising cannabis companies and the most influential investors.\n\nFollow us on \n\n[ __ ](https://www.facebook.com/ncvmedia) [ __ ](https://twitter.com/ncvmedia)\n[ __ ](https://www.linkedin.com/company/new-cannabis-ventures/)\n\n\u00a9 [ NCV Media, LLC. ](/)\n\n * [ About ](https://www.newcannabisventures.com/about-new-cannabis-ventures/)\n * [ Contact ](https://www.newcannabisventures.com/contact/)\n * [ Newsletter ](https://www.newcannabisventures.com/subscribe/)\n * [ Advertising ](https://www.newcannabisventures.com/cannabis-advertising/)\n * [ Privacy ](https://www.newcannabisventures.com/privacy-policy/)\n * [ Disclaimer ](https://www.newcannabisventures.com/disclaimer/)\n * [ Status ](http://status.newcannabisventures.com/4262862)\n\n",
"url": "https://www.newcannabisventures.com/cronos-group-q1-revenue-decreases-3-sequentially-to-25-million/"
},
"reason": "This is a reputable news source providing financial information about Cronos Group. It appears to be factual and well-reported.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on Cronos Group's Q1 revenue decrease.",
"url": "https://www.newcannabisventures.com/cronos-group-q1-revenue-decreases-3-sequentially-to-25-million/"
},
{
"content": {
"metadata": {
"ext_id": "d931925f-be0f-40dc-a255-1f9d55a7ad43",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501260.d62d0cf\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
"reason": "This is a filing from the U.S. Securities and Exchange Commission (SEC) regarding Cronos Group, making it a highly reliable source of information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "SEC filing related to Cronos Group.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
{
"content": {
"metadata": {
"ext_id": "5395c82e-aa4e-43b6-b7d1-46309fe2a297",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://mjbizdaily.com/altria-cronos-exclusive-partnership/"
},
"page_content": "Enable JavaScript and cookies to continue\n\n",
"url": "https://mjbizdaily.com/altria-cronos-exclusive-partnership/"
},
"reason": "This is a reputable news source in the cannabis industry reporting on the partnership between Altria and Cronos, indicating a high level of reliability.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on the exclusive partnership between Altria and Cronos.",
"url": "https://mjbizdaily.com/altria-cronos-exclusive-partnership/"
},
{
"content": {
"metadata": {
"ext_id": "8597d6a1-8407-45e5-952c-731df4b5b923",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.greenmarketreport.com/cronos-group-leans-into-growco-as-revenue-rises/"
},
"page_content": "Enable JavaScript and cookies to continue\n\n",
"url": "https://www.greenmarketreport.com/cronos-group-leans-into-growco-as-revenue-rises/"
},
"reason": "This is a reputable news source providing financial information about Cronos Group. It appears to be factual and well-reported.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on Cronos Group's revenue increase.",
"url": "https://www.greenmarketreport.com/cronos-group-leans-into-growco-as-revenue-rises/"
},
{
"content": {
"metadata": {
"ext_id": "f93224b6-c0f4-48a4-96cb-db8610843c85",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://finance.yahoo.com/news/cronos-group-reports-2024-fourth-123000650.html"
},
"page_content": "Oops, something went wrong\n\nUnlock stock picks and a broker-level newsfeed that powers Wall Street.\n\n[ ](https://www.globenewswire.com/ \"GlobeNewswire\")\n\nCronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nCronos Group Inc.\n\nThu, Feb 27, 2025, 4:30 AM 34 min read\n\n## In This Article:\n\n[ CRON ](/quote/CRON/ \"CRON\")\n\nCronos Group Inc.\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n\n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n\n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n\n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n\n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n\n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n\n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n\n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n\n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n\n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n\n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n\n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n\n * our expectations as to the use of the Peace Naturals Campus; \n\n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n\n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n\n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n\n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n\n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n\n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n\n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n\n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n\n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n\n * our ability to successfully create and launch brands and cannabis products; \n\n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n\n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n\n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n\n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n\n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n\n * expectations regarding the implementation and effectiveness of key personnel changes; \n\n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n\n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n\n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n\n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n\n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\nWe\u02bcre unable to load stories right now.\n\n[ ](/)\n\nCopyright \u00a9 2025 Yahoo. All rights reserved.\n\n[ ](https://twitter.com/YahooFinance \"Follow on Twitter\") [\n](https://facebook.com/yahoofinance \"Follow on Facebook\") [\n](https://www.linkedin.com/company/yahoo-finance \"Follow on LinkedIn\")\n\nPOPULAR QUOTES\n\n[ Dow Jones ](https://finance.yahoo.com/quote/%5EDJI/) [ S&P 500\n](https://finance.yahoo.com/quote/SPY/) [ DAX Index\n](https://finance.yahoo.com/quote/%5EGDAXI/) [ Nvidia\n](https://finance.yahoo.com/quote/NVDA/) [ Tesla\n](https://finance.yahoo.com/quote/TSLA/) [ DJT\n](https://finance.yahoo.com/quote/DJT/) [ Tariffs\n](https://finance.yahoo.com/topic/tariffs/)\n\nEXPLORE MORE\n\n[ Mortgages ](https://finance.yahoo.com/personal-finance/mortgages/) [ Credit\nCards ](https://finance.yahoo.com/personal-finance/credit-cards/) [ Sectors\n](https://finance.yahoo.com/sectors/) [ Crypto Heatmap\n](https://finance.yahoo.com/crypto/heatmap/) [ Financial News\n](https://finance.yahoo.com/news/)\n\nABOUT\n\n[ Data Disclaimer ](https://help.yahoo.com/kb/finance-for-\nweb/SLN2310.html?locale=en_US) [ Help ](https://help.yahoo.com/kb/finance-for-\nweb) [ Feedback ](https://yahoo.uservoice.com/forums/952723-finance-b3) [\nSitemap ](https://finance.yahoo.com/sitemap/) [ Licensing\n](https://info.wrightsmedia.com/yahoo-finance-licensing) [ What's New\n](https://finance.yahoo.com/about/whatsnew/) [ About Our Ads\n](https://policies.oath.com/us/en/oath/privacy/adinfo/index.html) [ Premium\nPlans ](/about/plans/)\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n",
"url": "https://finance.yahoo.com/news/cronos-group-reports-2024-fourth-123000650.html"
},
"reason": "Yahoo Finance is a reputable source for financial news, and this article reports on Cronos Group's financial results.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on Cronos Group's 2024 fourth-quarter results.",
"url": "https://finance.yahoo.com/news/cronos-group-reports-2024-fourth-123000650.html"
},
{
"content": {
"metadata": {
"ext_id": "6b2ea6f0-e815-4c32-b1a1-822fb3f94bec",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
"page_content": "Menu\n\n[ ](/)\n\n[ Login ](https://app.aikido.dev/login) [ Start Free\n](https://app.aikido.dev/login)\n\n[ Blog ](/blog)\n\n/\n\nCronos Group chooses Aikido Security to strengthen security posture for its\ncompanies and customers\n\n# Cronos Group chooses Aikido Security to strengthen security posture for its\ncompanies and customers\n\nBy\n\nRoeland Delrue\n\n4 min read\n\nNews\n\nAn IT match made in\u00e2\u0080\u00a6 Belgium! Aikido Security, a SaaS startup from Ghent,\nwill provide application security to The Cronos Group, an e-business\nintegrator headquartered in Kontich, with over 5,000 clients across their 570+\ncompanies in the Benelux region. This strategic partnership is set to fortify\nThe Cronos Group\u00e2\u0080\u0099s security posture and Aikido Security\u00e2\u0080\u0099s influence in the\ncybersecurity industry.\n\nCronos Group and Aikido Security partnership\n\n## Stronger security posture with Aikido\n\nThe Cronos Group is now a new Aikido client. In this context, The Cronos Group\nis in the process of implementing Aikido\u00e2\u0080\u0099s security solutions across many of\nits software development companies. Why is this useful for The Cronos Group?\nNot only does it help establish a stronger security posture for each company\nin its network, but it also creates another great advantage. Aikido pulls it\nall together for Cronos, which will gain a more insightful and standardized\nglobal overview of the security posture of these companies than ever before.\n\nBeyond that, Aikido entrusts The Cronos Group to become a true partner as\nwell. In this context, Cronos will be able to provide Aikido to its customers\nso they, too, have the opportunity to benefit from Aikido\u00e2\u0080\u0099s services. On top\nof that, Cronos and Aikido actively work together to further improve the\nproduct features.\n\nAikido\u00e2\u0080\u0099s unique set of security tools and ability to reduce false positives\nwill deliver efficiency to the development teams in The Cronos Group\u00e2\u0080\u0099s\nnetwork of companies and customers. This means less disruption from\nunnecessary alerts leading to more focus on writing code. The Cronos Group\naims to help companies find creative, high-quality, and profitable ways to\nmake the most of potential new technologies. Therefore, this partnership\naligns perfectly with its mission.\n\nAikido pulls it all together in a dedicated \u00e2\u0080\u009cSecurity Partner Portal\u00e2\u0080\u009d.\nThrough this partner portal, The Cronos Group is able to gain a more\ninsightful and standardized global overview of the security posture of their\ncompanies than ever before.\n\nAn example product visual of Aikido\u00e2\u0080\u0099s Partner Portal\n\n## The Cronos Group and Aikido comment on their partnership\n\nThe Cronos Group can\u00e2\u0080\u0099t wait to get started with Aikido.\n\n> The Cronos Group has always been supporting innovation and entrepreneurship,\n> including cyber security. We\u00e2\u0080\u0099re always on the lookout for partners to\n> strengthen our alliances. Through Aikido, we want to enable our developers\n> and clients to build in security from the first line of code. By combining\n> automation with intelligence, they can focus on the business value while\n> safeguarding their own scarce time and keeping the exposure to a minimum. \n> Jonas Buyle, Cronos Security\n\nMeanwhile, what benefits does this new partnership bring to Aikido? \"We're\nthrilled to welcome The Cronos Group to the Aikido Security family,\u00e2\u0080\u009d\nexplains Aikido cofounder and CEO, Willem Delbare. \u00e2\u0080\u009cAs both a customer and a\nreseller, The Cronos Group represents a key partnership in our mission to make\nmanaging your security posture simple. Our collaboration promises to provide\nunparalleled insights into the security posture of the portfolio of companies\nwithin The Cronos Group. Together, we aspire to elevate the standards of\napplication security across the board.\"\n\n## About Aikido Security\n\n[ Aikido Security ](https://www.aikido.dev/) is a developer-first software\nsecurity platform. We scan your source code & cloud to show you which\nvulnerabilities are actually important to solve. Triaging is sped up by\nmassively reducing false positives and making CVEs human-readable. Aikido\nmakes it simple to strengthen your security posture to keep your product\nsecure. And, it gives you back time to do what you do best: writing code.\n\n## About The Cronos Group\n\n[ The Cronos Group ](https://cronos-groep.be/en/) is an e-business integrator\ndelivering high-quality ICT solutions to enterprises and government entities\nin the Benelux region. The Cronos Group was founded by and for ICT\ntechnologists with the goal of helping them grow their careers and\nentrepreneurship. This mission expanded to include creative professionals in\norder to jointly design and implement creative and technologically leading\nsolutions for its customers. Since its inception in 1991, The Cronos Group\nexpanded from a one-person operation to a group of companies employing over\n9000 professionals across 570+ companies. \n\nWritten by Roeland Delrue\n\n[ ](https://www.linkedin.com/in/roelanddelrue/)\n\nCo-founder / COO & CRO\n\nShare:\n\nhttps://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture\n\nTable of contents:\n\nText Link\n\nShare:\n\nUse keyboard\n\nto navigate through articles\n\n[ ](/blog/xrp-supplychain-attack-official-npm-package-infected-with-crypto-\nstealing-backdoor)\n\nBy\n\nCharlie Eriksen\n\n## [ XRP supply chain attack: Official NPM package infected with crypto\nstealing backdoor ](/blog/xrp-supplychain-attack-official-npm-package-\ninfected-with-crypto-stealing-backdoor)\n\nApril 22, 2025\n\n[ Read more ](/blog/xrp-supplychain-attack-official-npm-package-infected-\nwith-crypto-stealing-backdoor)\n\n[ ](/blog/the-malware-dating-guide-understanding-the-types-of-malware-on-npm)\n\nBy\n\nCharlie Eriksen\n\n## [ The malware dating guide: Understanding the types of malware on NPM\n](/blog/the-malware-dating-guide-understanding-the-types-of-malware-on-npm)\n\nMalware\n\nApril 10, 2025\n\n[ Read more ](/blog/the-malware-dating-guide-understanding-the-types-of-\nmalware-on-npm)\n\n[ ](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\nBy\n\nCharlie Eriksen\n\n## [ Hide and Fail: Obfuscated Malware, Empty Payloads, and npm Shenanigans\n](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\nMalware\n\nApril 3, 2025\n\n[ Read more ](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\n[ ](/blog/launching-aikido-malware---open-source-threat-feed)\n\nBy\n\nMadeline Lawrence\n\n## [ Launching Aikido Malware \u00e2\u0080\u0093 Open Source Threat Feed ](/blog/launching-\naikido-malware---open-source-threat-feed)\n\nNews\n\nMarch 31, 2025\n\n[ Read more ](/blog/launching-aikido-malware---open-source-threat-feed)\n\n[ ](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-hackers)\n\nBy\n\nCharlie Eriksen\n\n## [ Malware hiding in plain sight: Spying on North Korean Hackers\n](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-hackers)\n\nMarch 31, 2025\n\n[ Read more ](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-\nhackers)\n\n[ ](/blog/get-the-tl-dr-tj-actions-changed-files-supply-chain-attack)\n\nBy\n\nMadeline Lawrence\n\n## [ Get the TL;DR: tj-actions/changed-files Supply Chain Attack ](/blog/get-\nthe-tl-dr-tj-actions-changed-files-supply-chain-attack)\n\nNews\n\nMarch 16, 2025\n\n[ Read more ](/blog/get-the-tl-dr-tj-actions-changed-files-supply-chain-\nattack)\n\n[ ](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-minded-\ndeveloper)\n\nBy\n\nMackenzie Jackson\n\n## [ A no-BS Docker security checklist for the vulnerability-minded developer\n](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-minded-\ndeveloper)\n\nGuides\n\nMarch 6, 2025\n\n[ Read more ](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-\nminded-developer)\n\n[ ](/blog/sensing-and-blocking-javascript-sql-injection-attacks-aikido-\nfirewall)\n\nBy\n\nMackenzie Jackson\n\n## [ Sensing and blocking JavaScript SQL injection attacks ](/blog/sensing-\nand-blocking-javascript-sql-injection-attacks-aikido-firewall)\n\nGuides\n\nMarch 4, 2025\n\n[ Read more ](/blog/sensing-and-blocking-javascript-sql-injection-attacks-\naikido-firewall)\n\n[ ](/blog/prisma-and-postgresql-vulnerable-to-nosql-injection)\n\nBy\n\nFloris Van den Abeele\n\n## [ Prisma and PostgreSQL vulnerable to NoSQL injection? A surprising\nsecurity risk explained ](/blog/prisma-and-postgresql-vulnerable-to-nosql-\ninjection)\n\nEngineering\n\nFebruary 14, 2025\n\n[ Read more ](/blog/prisma-and-postgresql-vulnerable-to-nosql-injection)\n\n[ ](/blog/launching-opengrep-why-we-forked-semgrep)\n\nBy\n\nWillem Delbare\n\n## [ Launching Opengrep | Why we forked Semgrep ](/blog/launching-opengrep-why-we-forked-semgrep)\n\nNews\n\nJanuary 24, 2025\n\n[ Read more ](/blog/launching-opengrep-why-we-forked-semgrep)\n\n[ ](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nBy\n\nThomas Segura\n\n## [ Your Client Requires NIS2 Vulnerability Patching. Now What?\n](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nJanuary 14, 2025\n\n[ Read more ](/blog/your-client-requires-nis2-vulnerability-patching-now-\nwhat)\n\n[ ](/blog/top-10-ai-powered-sast-tools-in-2025)\n\nBy\n\nMackenzie Jackson\n\n## [ Top 10 AI-powered SAST tools in 2025 ](/blog/top-10-ai-powered-sast-\ntools-in-2025)\n\nGuides\n\nJanuary 10, 2025\n\n[ Read more ](/blog/top-10-ai-powered-sast-tools-in-2025)\n\n[ ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\nBy\n\nMadeline Lawrence\n\n## [ Snyk vs Aikido Security | G2 Reviews Snyk Alternative ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\nGuides\n\nJanuary 10, 2025\n\n[ Read more ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\n[ ](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\nBy\n\nMackenzie Jackson\n\n## [ Top 10 Software Composition Analysis (SCA) tools in 2025\n](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\nGuides\n\nJanuary 9, 2025\n\n[ Read more ](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\n[ ](/blog/3-key-steps-to-strengthen-compliance-and-risk-management)\n\nBy\n\nMichiel Denis\n\n## [ 3 Key Steps to Strengthen Compliance and Risk Management ](/blog/3-key-\nsteps-to-strengthen-compliance-and-risk-management)\n\nDecember 27, 2024\n\n[ Read more ](/blog/3-key-steps-to-strengthen-compliance-and-risk-management)\n\n[ ](/blog/the-start-ups-open-source-guide-to-application-security)\n\nBy\n\nMackenzie Jackson\n\n## [ The Startup's Open-Source Guide to Application Security ](/blog/the-\nstart-ups-open-source-guide-to-application-security)\n\nGuides\n\nDecember 23, 2024\n\n[ Read more ](/blog/the-start-ups-open-source-guide-to-application-security)\n\n[ ](/blog/launching-aikido-for-cursor-ai)\n\nBy\n\nMadeline Lawrence\n\n## [ Launching Aikido for Cursor AI ](/blog/launching-aikido-for-cursor-ai)\n\nEngineering\n\nDecember 13, 2024\n\n[ Read more ](/blog/launching-aikido-for-cursor-ai)\n\n[ ](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-llms)\n\nBy\n\nMackenzie Jackson\n\n## [ Meet Intel: Aikido\u00e2\u0080\u0099s Open Source threat feed powered by LLMs.\n](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-llms)\n\nEngineering\n\nDecember 13, 2024\n\n[ Read more ](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-\nllms)\n\n[ ](/blog/aikido-joins-the-aws-partner-network)\n\nBy\n\nJohan De Keulenaer\n\n## [ Aikido joins the AWS Partner Network ](/blog/aikido-joins-the-aws-\npartner-network)\n\nNews\n\nNovember 26, 2024\n\n[ Read more ](/blog/aikido-joins-the-aws-partner-network)\n\n[ ](/blog/command-injection-in-2024-unpacked)\n\nBy\n\nMackenzie Jackson\n\n## [ Command injection in 2024 unpacked ](/blog/command-injection-\nin-2024-unpacked)\n\nEngineering\n\nNovember 24, 2024\n\n[ Read more ](/blog/command-injection-in-2024-unpacked)\n\n[ ](/blog/path-traversal-in-2024-the-year-unpacked)\n\nBy\n\nMackenzie Jackson\n\n## [ Path Traversal in 2024 - The year unpacked ](/blog/path-traversal-\nin-2024-the-year-unpacked)\n\nEngineering\n\nNovember 23, 2024\n\n[ Read more ](/blog/path-traversal-in-2024-the-year-unpacked)\n\n[ ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-commercial-\nsolutions)\n\nBy\n\nMackenzie Jackson\n\n## [ Balancing Security: When to Leverage Open-Source Tools vs. Commercial\nTools ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-\ncommercial-solutions)\n\nGuides\n\nNovember 15, 2024\n\n[ Read more ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-\ncommercial-solutions)\n\n[ ](/blog/the-state-of-sql-injections)\n\nBy\n\nMackenzie Jackson\n\n## [ The State of SQL Injection ](/blog/the-state-of-sql-injections)\n\nGuides\n\nNovember 8, 2024\n\n[ Read more ](/blog/the-state-of-sql-injections)\n\n[ ](/blog/vismas-security-boost-with-aikido-a-conversation-with-nikolai-\nbrogaard)\n\nBy\n\nMichiel Denis\n\n## [ Visma\u00e2\u0080\u0099s Security Boost with Aikido: A Conversation with Nikolai\nBrogaard ](/blog/vismas-security-boost-with-aikido-a-conversation-with-\nnikolai-brogaard)\n\nNews\n\nNovember 6, 2024\n\n[ Read more ](/blog/vismas-security-boost-with-aikido-a-conversation-with-\nnikolai-brogaard)\n\n[ ](/blog/security-in-fintech)\n\nBy\n\nMichiel Denis\n\n## [ Security in FinTech: Q&A with Dan Kindler, co-founder & CTO of Bound\n](/blog/security-in-fintech)\n\nNews\n\nOctober 10, 2024\n\n[ Read more ](/blog/security-in-fintech)\n\n[ ](/blog/top-7-aspm-tools)\n\nBy\n\nFelix Garriau\n\n## [ Top 7 ASPM Tools in 2025 ](/blog/top-7-aspm-tools)\n\nGuides\n\nOctober 1, 2024\n\n[ Read more ](/blog/top-7-aspm-tools)\n\n[ ](/blog/sprinto-partnership)\n\nBy\n\nMadeline Lawrence\n\n## [ Automate compliance with SprintoGRC x Aikido ](/blog/sprinto-\npartnership)\n\nNews\n\nSeptember 11, 2024\n\n[ Read more ](/blog/sprinto-partnership)\n\n[ ](/blog/how-to-generate-an-sbom-for-an-audit)\n\nBy\n\nFelix Garriau\n\n## [ How to Create an SBOM for Software Audits ](/blog/how-to-generate-an-\nsbom-for-an-audit)\n\nGuides\n\nSeptember 9, 2024\n\n[ Read more ](/blog/how-to-generate-an-sbom-for-an-audit)\n\n[ ](/blog/sast-vs-dast-what-you-need-to-now)\n\nBy\n\nMadeline Lawrence\n\n## [ SAST vs DAST: What you need to know. ](/blog/sast-vs-dast-what-you-need-\nto-now)\n\nGuides\n\nSeptember 2, 2024\n\n[ Read more ](/blog/sast-vs-dast-what-you-need-to-now)\n\n[ ](/blog/best-sbom-generation-tools)\n\nBy\n\nFelix Garriau\n\n## [ Best SBOM Tools for Developers: Our 2025 Picks ](/blog/best-sbom-\ngeneration-tools)\n\nGuides\n\nAugust 7, 2024\n\n[ Read more ](/blog/best-sbom-generation-tools)\n\n[ ](/blog/5-snyk-alternatives-and-why-they-are-better)\n\nBy\n\nLieven Oosterlinck\n\n## [ 5 Snyk Alternatives and Why They Are Better ](/blog/5-snyk-alternatives-\nand-why-they-are-better)\n\nNews\n\nAugust 5, 2024\n\n[ Read more ](/blog/5-snyk-alternatives-and-why-they-are-better)\n\n[ ](/blog/why-were-stoked-to-partner-with-laravel)\n\nBy\n\nMadeline Lawrence\n\n## [ Why we\u00e2\u0080\u0099re stoked to partner with Laravel ](/blog/why-were-stoked-to-\npartner-with-laravel)\n\nNews\n\nJuly 8, 2024\n\n[ Read more ](/blog/why-were-stoked-to-partner-with-laravel)\n\n[ ](/blog/110000-sites-affected-by-the-polyfill-supply-chain-attack)\n\nBy\n\nFelix Garriau\n\n## [ 110,000 sites affected by the Polyfill supply chain attack\n](/blog/110000-sites-affected-by-the-polyfill-supply-chain-attack)\n\nNews\n\nJune 27, 2024\n\n[ Read more ](/blog/110000-sites-affected-by-the-polyfill-supply-chain-\nattack)\n\n[ ](/blog/cybersecurity-essentials-for-legaltech-companies)\n\nBy\n\nFelix Garriau\n\n## [ Cybersecurity Essentials for LegalTech Companies ](/blog/cybersecurity-\nessentials-for-legaltech-companies)\n\nNews\n\nJune 25, 2024\n\n[ Read more ](/blog/cybersecurity-essentials-for-legaltech-companies)\n\n[ ](/blog/drata-aikido-integration-automates-vulnerability-management)\n\nBy\n\nRoeland Delrue\n\n## [ Drata Integration - How to Automate Technical Vulnerability Management\n](/blog/drata-aikido-integration-automates-vulnerability-management)\n\nGuides\n\nJune 18, 2024\n\n[ Read more ](/blog/drata-aikido-integration-automates-vulnerability-\nmanagement)\n\n[ ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-security-\ntoolkit)\n\nBy\n\nJoel Hans\n\n## [ DIY guide: \u00e2\u0080\u0098Build vs buy\u00e2\u0080\u0099 your OSS code scanning and app security\ntoolkit ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-\nsecurity-toolkit)\n\nGuides\n\nJune 11, 2024\n\n[ Read more ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-\nsecurity-toolkit)\n\n[ ](/blog/soc-2-certification-tips)\n\nBy\n\nRoeland Delrue\n\n## [ SOC 2 certification: 5 things we learned ](/blog/soc-2-certification-\ntips)\n\nGuides\n\nJune 4, 2024\n\n[ Read more ](/blog/soc-2-certification-tips)\n\n[ ](/blog/app-security-problems-top-10)\n\nBy\n\nJoel Hans\n\n## [ Top 10 app security problems and how to protect yourself ](/blog/app-\nsecurity-problems-top-10)\n\nGuides\n\nMay 28, 2024\n\n[ Read more ](/blog/app-security-problems-top-10)\n\n[ ](/blog/we-just-raised-our-17-million-series-a)\n\nBy\n\nMadeline Lawrence\n\n## [ We just raised our $17 million Series A ](/blog/we-just-raised-\nour-17-million-series-a)\n\nNews\n\nMay 2, 2024\n\n[ Read more ](/blog/we-just-raised-our-17-million-series-a)\n\n[ ](/blog/best-rasp-tools)\n\nBy\n\n## [ Best RASP Tools for Developers in 2025 ](/blog/best-rasp-tools)\n\nApril 10, 2024\n\n[ Read more ](/blog/best-rasp-tools)\n\n[ ](/blog/webhook-security-checklist)\n\nBy\n\nWillem Delbare\n\n## [ Webhook security checklist: How to build secure webhooks\n](/blog/webhook-security-checklist)\n\nGuides\n\nApril 4, 2024\n\n[ Read more ](/blog/webhook-security-checklist)\n\n[ ](/blog/the-cure-for-security-alert-fatigue-syndrome)\n\nBy\n\nWillem Delbare\n\n## [ The Cure For Security Alert Fatigue Syndrome ](/blog/the-cure-for-\nsecurity-alert-fatigue-syndrome)\n\nEngineering\n\nFebruary 21, 2024\n\n[ Read more ](/blog/the-cure-for-security-alert-fatigue-syndrome)\n\n[ ](/blog/nis2-who-is-affected)\n\nBy\n\nRoeland Delrue\n\n## [ NIS2: Who is affected? ](/blog/nis2-who-is-affected)\n\nGuides\n\nJanuary 16, 2024\n\n[ Read more ](/blog/nis2-who-is-affected)\n\n[ ](/blog/iso-27001-certification-top-tips)\n\nBy\n\nRoeland Delrue\n\n## [ ISO 27001 certification: 8 things we learned\n](/blog/iso-27001-certification-top-tips)\n\nGuides\n\nDecember 5, 2023\n\n[ Read more ](/blog/iso-27001-certification-top-tips)\n\n[ ](/blog/loctax-eliminates-false-positives)\n\nBy\n\nBart Jonckheere\n\n## [ How Loctax uses Aikido Security to get rid of irrelevant security alerts\n& false positives ](/blog/loctax-eliminates-false-positives)\n\nNews\n\nNovember 22, 2023\n\n[ Read more ](/blog/loctax-eliminates-false-positives)\n\n[ ](/blog/aikido-security-raises-eur5m-to-offer-a-seamless-security-solution-\nto-growing-saas-businesses)\n\nBy\n\nFelix Garriau\n\n## [ Aikido Security raises \u00e2\u0082\u00ac5m to offer a seamless security solution to\ngrowing SaaS businesses ](/blog/aikido-security-raises-eur5m-to-offer-a-\nseamless-security-solution-to-growing-saas-businesses)\n\nNews\n\nNovember 9, 2023\n\n[ Read more ](/blog/aikido-security-raises-eur5m-to-offer-a-seamless-\nsecurity-solution-to-growing-saas-businesses)\n\n[ ](/blog/aikido-security-achieves-iso-270012022-compliance)\n\nBy\n\nRoeland Delrue\n\n## [ Aikido Security achieves ISO 27001:2022 compliance ](/blog/aikido-\nsecurity-achieves-iso-270012022-compliance)\n\nNews\n\nNovember 8, 2023\n\n[ Read more ](/blog/aikido-security-achieves-iso-270012022-compliance)\n\n[ ](/blog/aikido-improves-startup-security-posture-storychief)\n\nBy\n\nFelix Garriau\n\n## [ How StoryChief\u00e2\u0080\u0099s CTO uses Aikido Security to sleep better at night\n](/blog/aikido-improves-startup-security-posture-storychief)\n\nNews\n\nOctober 24, 2023\n\n[ Read more ](/blog/aikido-improves-startup-security-posture-storychief)\n\n[ ](/blog/what-is-a-cve)\n\nBy\n\nWillem Delbare\n\n## [ What is a CVE? ](/blog/what-is-a-cve)\n\nGuides\n\nOctober 17, 2023\n\n[ Read more ](/blog/what-is-a-cve)\n\n[ ](/blog/best-end-of-life-detection-tools)\n\nBy\n\nFelix Garriau\n\n## [ Best Tools for End-of-Life Detection: 2025 Rankings ](/blog/best-end-of-\nlife-detection-tools)\n\nGuides\n\nOctober 4, 2023\n\n[ Read more ](/blog/best-end-of-life-detection-tools)\n\n[ ](/blog/web-application-security-vulnerabilities)\n\nBy\n\nWillem Delbare\n\n## [ Top 3 web application security vulnerabilities in 2024 ](/blog/web-\napplication-security-vulnerabilities)\n\nEngineering\n\nSeptember 27, 2023\n\n[ Read more ](/blog/web-application-security-vulnerabilities)\n\n[ ](/blog/new-aikido-security-features-august-2023)\n\nBy\n\nFelix Garriau\n\n## [ New Aikido Security Features: August 2023 ](/blog/new-aikido-security-\nfeatures-august-2023)\n\nNews\n\nAugust 22, 2023\n\n[ Read more ](/blog/new-aikido-security-features-august-2023)\n\n[ ](/blog/saas-cto-security-checklist)\n\nBy\n\nFelix Garriau\n\n## [ Aikido\u00e2\u0080\u0099s 2025 SaaS CTO Security Checklist ](/blog/saas-cto-security-\nchecklist)\n\nNews\n\nAugust 10, 2023\n\n[ Read more ](/blog/saas-cto-security-checklist)\n\n[ ](/blog/saas-cto-security-checklist-old)\n\nBy\n\nFelix Garriau\n\n## [ Aikido\u00e2\u0080\u0099s 2024 SaaS CTO Security Checklist ](/blog/saas-cto-security-\nchecklist-old)\n\nNews\n\nAugust 10, 2023\n\n[ Read more ](/blog/saas-cto-security-checklist-old)\n\n[ ](/blog/cloud-code-security-cto-consultation)\n\nBy\n\nFelix Garriau\n\n## [ 15 Top Cloud and Code Security Challenges Revealed by CTOs\n](/blog/cloud-code-security-cto-consultation)\n\nEngineering\n\nJuly 25, 2023\n\n[ Read more ](/blog/cloud-code-security-cto-consultation)\n\n[ ](/blog/what-is-owasp-top-10)\n\nBy\n\nWillem Delbare\n\n## [ What is OWASP Top 10? ](/blog/what-is-owasp-top-10)\n\nGuides\n\nJuly 12, 2023\n\n[ Read more ](/blog/what-is-owasp-top-10)\n\n[ ](/blog/build-secure-admin-panel)\n\nBy\n\nWillem Delbare\n\n## [ How to build a secure admin panel for your SaaS app ](/blog/build-\nsecure-admin-panel)\n\nGuides\n\nJuly 11, 2023\n\n[ Read more ](/blog/build-secure-admin-panel)\n\n[ ](/blog/iso-270012022-preparation)\n\nBy\n\nRoeland Delrue\n\n## [ How to prepare yourself for ISO 27001:2022\n](/blog/iso-270012022-preparation)\n\nGuides\n\nJuly 5, 2023\n\n[ Read more ](/blog/iso-270012022-preparation)\n\n[ ](/blog/prevent-fallout-when-cicd-platform-hacked)\n\nBy\n\nWillem Delbare\n\n## [ Preventing fallout from your CI/CD platform being hacked\n](/blog/prevent-fallout-when-cicd-platform-hacked)\n\nGuides\n\nJune 19, 2023\n\n[ Read more ](/blog/prevent-fallout-when-cicd-platform-hacked)\n\n[ ](/blog/security-assessment-report-closes-deals-faster)\n\nBy\n\nFelix Garriau\n\n## [ How to Close Deals Faster with a Security Assessment Report\n](/blog/security-assessment-report-closes-deals-faster)\n\nNews\n\nJune 12, 2023\n\n[ Read more ](/blog/security-assessment-report-closes-deals-faster)\n\n[ ](/blog/a-guide-to-automating-technical-vulnerability-management-for-soc-2)\n\nBy\n\nWillem Delbare\n\n## [ Automate Technical Vulnerability Management [SOC 2] ](/blog/a-guide-to-\nautomating-technical-vulnerability-management-for-soc-2)\n\nGuides\n\nJune 5, 2023\n\n[ Read more ](/blog/a-guide-to-automating-technical-vulnerability-management-\nfor-soc-2)\n\n[ ](/blog/prevent-prototype-pollution)\n\nBy\n\nWillem Delbare\n\n## [ Preventing prototype pollution in your repository ](/blog/prevent-\nprototype-pollution)\n\nGuides\n\nJune 1, 2023\n\n[ Read more ](/blog/prevent-prototype-pollution)\n\n[ ](/blog/how-does-a-saas-startup-cto-balance-development-speed-and-security)\n\nBy\n\nWillem Delbare\n\n## [ How does a SaaS startup CTO balance development speed and security?\n](/blog/how-does-a-saas-startup-cto-balance-development-speed-and-security)\n\nGuides\n\nMay 16, 2023\n\n[ Read more ](/blog/how-does-a-saas-startup-cto-balance-development-speed-\nand-security)\n\n[ ](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-that-sends-an-\nemail)\n\nBy\n\nWillem Delbare\n\n## [ How a startup\u00e2\u0080\u0099s cloud got taken over by a simple form that sends emails\n](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-that-sends-an-\nemail)\n\nEngineering\n\nApril 10, 2023\n\n[ Read more ](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-\nthat-sends-an-email)\n\n[ ](/blog/aikido-security-raises-eur2-million-pre-seed-round-to-build-a-\ndeveloper-first-software-security-platform)\n\nBy\n\nFelix Garriau\n\n## [ Aikido Security raises \u00e2\u0082\u00ac2 million pre-seed round to build a developer-\nfirst software security platform ](/blog/aikido-security-raises-eur2-million-\npre-seed-round-to-build-a-developer-first-software-security-platform)\n\nNews\n\nJanuary 19, 2023\n\n[ Read more ](/blog/aikido-security-raises-eur2-million-pre-seed-round-to-\nbuild-a-developer-first-software-security-platform)\n\n[ ](/blog/why-we-need-lockfiles-to-secure-our-supply-chain)\n\nBy\n\n## [ Why Lockfiles Matter for Supply Chain Security ](/blog/why-we-need-\nlockfiles-to-secure-our-supply-chain)\n\n[ Read more ](/blog/why-we-need-lockfiles-to-secure-our-supply-chain)\n\n[ ](/blog/xrp-supplychain-attack-official-npm-package-infected-with-crypto-\nstealing-backdoor)\n\nBy\n\nCharlie Eriksen\n\n### [ XRP supply chain attack: Official NPM package infected with crypto\nstealing backdoor ](/blog/xrp-supplychain-attack-official-npm-package-\ninfected-with-crypto-stealing-backdoor)\n\nMarch 31, 2025\n\n[ ](/blog/best-end-of-life-detection-tools)\n\nBy\n\nFelix Garriau\n\n### [ Best Tools for End-of-Life Detection: 2025 Rankings ](/blog/best-end-\nof-life-detection-tools)\n\nGuides\n\nMarch 18, 2025\n\n[ ](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nBy\n\nThomas Segura\n\n### [ Your Client Requires NIS2 Vulnerability Patching. Now What?\n](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nFebruary 11, 2025\n\n## Get secure in 32 seconds\n\nConnect your GitHub, GitLab, Bitbucket or Azure DevOps account to start\nscanning your repos for free.\n\n[ Start for Free ](https://app.aikido.dev/login)\n\nYour data won't be shared \u00c2\u00b7 Read-only access\n\n[ ](/)\n\nCompany\n\n[ Product ](/product) [ Pricing ](/pricing) [ About ](/about) [ Careers\n](/careers) [ Contact ](/contact) [ Partner with us ](/partner)\n\nResources\n\n[ Docs ](https://help.aikido.dev/doc/overview-aikido-docs/docCpLHBMatZ) [\nPublic API Docs ](https://apidocs.aikido.dev/) [ Vulnerability Database\n](https://security.aikido.dev/) [ Blog ](/blog) [ Integrations\n](https://integrations.aikido.dev/) [ Glossary ](/glossary) [ Press Kit\n](/press-kit) [ Customer Reviews ](/wall-of-love)\n\nSecurity\n\n[ Trust Center ](/trust-center) [ Security Overview\n](https://trustcenter.aikido.dev/) Change Cookie Preferences\n\nLegal\n\n[ Privacy Policy ](https://www.aikido.dev/policies/privacy) [ Cookie Policy\n](https://www.aikido.dev/policies/cookies) [ Terms of Use\n](https://www.aikido.dev/policies/terms) [ Master Subscription Agreement\n](/aikido-security-bv-msa) [ Data Processing Agreement ](/aikido-security-bv-\ndpa)\n\nUse Cases\n\n[ Compliance ](/use-cases/soc2-iso-compliance) [ SAST & DAST ](/use-\ncases/sast-dast) [ ASPM ](/use-cases/application-security-posture-management-\naspm) [ Vulnerability Management ](/use-cases/vulnerability-management) [\nGenerate SBOMs ](/use-cases/sbom-generator-create-software-bill-of-materials)\n[ WordPress Security ](/use-cases/wordpress-security) [ Secure Your Code\n](/use-cases/secure-your-source-code)\n\nIndustries\n\n[ For HealthTech ](/industries/healthtech) [ For MedTech\n](/industries/medtech) [ For FinTech ](/industries/aikido-for-fintech) [ For\nSecurityTech ](/industries/security-tech) [ For LegalTech\n](/industries/aikido-for-legaltech) [ For HRTech ](/industries/aikido-for-\nhrtech) [ For Agencies ](/industries/aikido-for-agencies) [ For Enterprise\n](/industries/aikido-for-enterprise) [ For PE & Group Companies\n](/industries/pe-group-companies)\n\nCompare\n\n[ vs All Vendors ](/comparison/comparison-overview) [ vs Snyk\n](/comparison/snyk-alternative) [ vs Wiz ](/comparison/wiz-alternative) [ vs\nMend ](/comparison/mend-alternative) [ vs Orca Security ](/comparison/orca-\nsecurity-alternative) [ vs Veracode ](/comparison/veracode-alternative) [ vs\nGitHub Advanced Security ](/comparison/github-advanced-security-alternative) [\nvs GitLab Ultimate ](/comparison/gitlab-ultimate-alternative) [ vs Checkmarx\n](/comparison/checkmarx) [ vs Semgrep ](/comparison/semgrep) [ vs SonarQube\n](/comparison/aikido-vs-sonarqube)\n\nConnect\n\n[ hello@aikido.dev ](mailto:hello@aikido.dev)\n\n[ LinkedIn ](https://www.linkedin.com/company/aikido-security/) [ X\n](https://twitter.com/AikidoSecurity)\n\nSubscribe\n\nStay up to date with all updates\n\n\u00f0\u009f\u0091\u008b\u00f0\u009f\u008f\u00bb Thank you! You\u00e2\u0080\u0099ve been subscribed.\n\nTeam Aikido\n\nNot quite there yet.\n\n\u00c2\u00a9 2025 Aikido Security BV | BE0792914919 \n\u00f0\u009f\u0087\u00aa\u00f0\u009f\u0087\u00ba Registered address: Coupure Rechts 88, 9000, Ghent, Belgium \n\u00f0\u009f\u0087\u00aa\u00f0\u009f\u0087\u00ba Office address: Gebroeders van Eyckstraat 2, 9000, Ghent, Belgium \n\u00f0\u009f\u0087\u00ba\u00f0\u009f\u0087\u00b8 Office address: 95 Third St, 2nd Fl, San Francisco, CA 94103, US\n\n[ SOC 2 Compliant ISO 27001 Compliant ](/trust-center)\n\n",
"url": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
"reason": "This article discusses how Aikido strengthened Cronos Group's security posture, suggesting a business relationship and providing relevant information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Discusses Aikido's role in strengthening Cronos Group's security.",
"url": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
{
"content": {
"metadata": {
"ext_id": "d25467d7-81d7-4a79-a19c-e524864ad4a6",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/odg0ufwH"
},
"page_content": "## Procurement Specialist\n\n### __ Stayner, ON\n\n[ Apply ](/cronosgroup/job/odg0ufwH/apply)\n\n### Description\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit: [\nhttps://thecronosgroup.com/ ](https://thecronosgroup.com/) .\n\nAt Cronos Group, we hire talented people who thrive on solving difficult\nproblems and give them the opportunity to hone new skills and approaches. If\nyou want to play a part in shaping an innovative industry and help build a\nhistorically significant company, we want to meet you.\n\nThe Procurement Specialist is responsible for converting purchase requisitions\n(PR) into purchase orders (PO) and managing all purchase orders to closure.\nThis role manages the purchase order process which includes; training\nrequisitioners on how to properly submit PR\u2019s, validating PR accuracy,\ncreating PO\u2019s, issuing PO\u2019s per the DOA policy, updating PO\u2019s (as needed),\ntracking PO\u2019s to delivery, assisting accounts payable team to ensure a 3-way\nmatch, and closing out matched PO\u2019s. This role will be responsible for\nmanaging tiered price lists with strategic vendors and for managing the\naccuracy in $30M-$50M in annual purchases. To be successful in this role, the\nProcurement Specialist will need to work closely with the supply and demand\nplanning teams located in Stayner, Canada to ensure PO\u2019s are issued\naccurately, timely, expedited when needed, and supply is available to meet the\nbusiness demands. This role leads supply assurance efforts and delivers\nfinancial value to the business through the execution of cost savings and\nvalue optimization projects. Cronos is a fast-paced company in a growing\nindustry so this role must be flexible and ready to support the rapid launch\nof new products. This position will report to the Director of Procurement and\nwill be based 5 days a week onsite in Stayner, Ontario.\n\nWhat you\u2019ll be doing:\n\n * Managing the PR to PO creation process includes training requestors, validating PR\u2019s, creating PO\u2019s, issuing PO\u2019s via the appropriate approval chain (DOA), updating the PO as needed, tracking the PO to delivery, and assisting the business and accounts payable to ensure a 3-way match, and close the PO. \n * Managing tiered price lists includes regularly maintaining the accuracy on volume-based pricing, uploading new pricing into SAP, and ensuring PO\u2019s are created with the appropriate price/terms. \n * Partner with cross-functional stakeholders in Supply Chain, Operations, and Sales to ensure the appropriate supply is available to meet all business demands. \n * Lead the due diligence, qualification, and on-boarding of all new suppliers. \n * Deliver financial value through cost savings and value optimization projects. \n * Build in-depth knowledge on SAP and become the SAP purchasing subject matter expert, updating \u201chow to\u201d documentation, and leading SAP training sessions with key stakeholders. \n * Backup other Procurement Specialists, creating redundancy, and ensuring the procurement KPI\u2019s are met by delivering timely and accurate PO\u2019s \n * Backing up the sourcing team to support sourcing efforts \n\nYou\u2019ll need to have:\n\n * 5-7 years of experience in purchasing, procurement, or supply chain. \n * College degree required, ideally focus on Supply Chain Management, Business Administration, Finance, or other related field. Relevant certifications (e.g., CPP, CPSM) are a plus. \n * Ability to work in a fast-paced environment across multiple workstreams. \n * Strong business acumen, analytical and problem-solving capabilities. \n * Exceptional organizational skills and attention to detail is required. \n * Demonstrated abilities as a procurement specialist/buyer with experience in SAP purchasing system. \n * Highly effective written and oral communication skills with ability to present complex information to varied audiences. \n * Knowledge of sourcing fundamentals and ability to lead RFP\u2019s with tight deadlines \n * High level of proficiency in Excel, Word, PowerPoint, Outlook, and Teams. \n\nWe are committed to fostering a diverse and inclusive work environment, and we\nwelcome and encourage applications from people with disabilities and people\nwith diverse backgrounds, identities, and cultures. For candidates with\ndisabilities, accommodations are available upon request in all phases of the\nselection process.\n\n[ Apply ](/cronosgroup/job/odg0ufwH/apply) Apply Later\n\n[ \u2190 Back to Current Openings ](/cronosgroup/jobs)\n\n### Share\n\n[ _ LinkedIn _ ]() [ _ Facebook _ ]() _ Twitter _ _ Email _\n\n__\n\n[ _ Powered by Jobvite _ ](https://www.jobvite.com/support/job-seeker-\nsupport/)\n\n * [ Website Terms of Use ](https://thecronosgroup.com/term_of_use.php)\n * [ Website Privacy Statement ](https://thecronosgroup.com/website_privacy_statement.php)\n * [ Cookie Policy ](https://thecronosgroup.com/cookie_policy.php)\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\nBack to Top\n\n",
"url": "https://jobs.jobvite.com/cronosgroup/job/odg0ufwH"
},
"reason": "This is a job posting directly from Cronos Group's career page, providing reliable information about job opportunities within the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Job posting from Cronos Group's career page.",
"url": "https://jobs.jobvite.com/cronosgroup/job/odg0ufwH"
},
{
"content": {
"metadata": {
"ext_id": "122d85df-f58d-41e5-bfa8-31c9b9d91598",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://money.tmx.com/en/quote/CRON/news/6419886959289105"
},
"page_content": "\n\n",
"url": "https://money.tmx.com/en/quote/CRON/news/6419886959289105"
},
"reason": "TMX Money is a reliable source for financial news and press releases, making this a trustworthy source of information about Cronos Group.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Financial news and press releases about Cronos Group.",
"url": "https://money.tmx.com/en/quote/CRON/news/6419886959289105"
},
{
"content": {
"metadata": {
"ext_id": "cb6d0c20-fb53-44d7-98e8-c096b8737b2f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2019 Fourth Quarter and Full-Year Results\n\nMarch 30, 2020 16:02 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Completed Audit Committee Review and Restated Certain 2019 Unaudited Interim\nFinancial Statements_ \n\n_Expanded Canadian distribution to new provinces and product categories across\nthe adult-use market_\n\n_Established Cronos Fermentation, a critical step in advancing the production\nof cultured cannabinoids in partnership with Ginkgo Bioworks_\n\n_Enhanced research and development capabilities at the Peace Naturals Campus_\n\n_Advanced operational readiness of Cronos Israel with GAP and GMP\ncertifications_\n\nTORONTO, March 30, 2020 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos Group\u201d or the \u201cCompany\u201d), today announces its 2019 fourth\nquarter and full-year business results.\n\nThe Audit Committee of the Cronos Group Board of Directors has completed its\nreview of certain bulk resin purchases and sales of products through the\nwholesale channel. Following completion of the review, and on the\nrecommendation of the Audit Committee and advice from the Company\u2019s\nindependent auditor, KPMG LLP, the Board determined that Cronos Group will\nrestate its unaudited interim financial statements for the first, second and\nthird quarters of 2019. Accordingly, the Company reduced revenue for the three\nmonths ended March 31, 2019 by C$2.5 million and the three months ended\nSeptember 30, 2019 by C$5.1 million.\n\n\u201cWe are pleased that the Audit Committee has completed its review, and that\nCronos Group is now current with the filing of our financial reports. As we\nmove forward, we are committed to improving our internal controls and\nfinancial reporting practices, maintaining the highest standards of\ntransparency and accountability, and enhancing our capabilities and resources\nacross functions to support our strategy,\u201d said Mike Gorenstein, CEO of Cronos\nGroup.\n\n\u201cCronos Group ended 2019 with a strong foundation and balance sheet, and a\nclear focus on achieving our core strategic initiatives to drive long-term,\nsustainable growth. Importantly, we expanded our Canadian distribution\nfootprint, broadened our brand portfolio, enhanced our global supply chain\ncapabilities and advanced our breakthrough intellectual property and research\nand development initiatives. While the world currently faces an unprecedented\ntime of uncertainty related to COVID-19, we believe we are well-positioned to\nbuild on these accomplishments as we maintain our investments in brands and\nproducts that will resonate with adult consumers and generate sustainable,\nlong-term value for shareholders.\u201d\n\n**_Financial Results_ **\n\n_(in thousands of USD)_ | | **Three months December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \n**Net revenue** | | | | | | | | | | | | | | | | \nUnited States | | $ | 2,693 | | | $ | \u2014 | | | $ | 2,693 | | | N/A | | $ | 3,364 | | | $ | \u2014 | | | $ | 3,364 | | | N/A \nRest of World | | 4,615 | | | 4,285 | | | 330 | | | 8 | % | | 20,386 | | | 12,121 | | | 8,265 | | | 68 | % \nConsolidated net revenue | | 7,308 | | | 4,285 | | | 3,023 | | | 71 | % | | 23,750 | | | 12,121 | | | 11,629 | | | 96 | % \n| | | | | | | | | | | | | | | | \nGross profit (loss) | | (20,375 | ) | | 1,880 | | | (22,255 | ) | | (1184 | )% | | (17,864 | ) | | 6,213 | | | (24,077 | ) | | (388 | )% \nGross margin | | (279 | )% | | 44 | % | | \u2014 | | | (323)pp | | (75 | )% | | 51 | % | | \u2014 | | | (126)pp \n| | | | | | | | | | | | | | | | \nReported operating loss | | $ | (63,869 | ) | | $ | (8,871 | ) | | $ | (54,998 | ) | | 620 | % | | $ | (121,484 | ) | | $ | (21,341 | ) | | $ | (100,143 | ) | | 469 | % \nAdjusted operating loss (i) | | (56,601 | ) | | (8,871 | ) | | (47,730 | ) | | 538 | % | | (114,216 | ) | | (21,341 | ) | | (92,875 | ) | | 435 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents | | | | | | | | | | 1,199,693 | | | 23,927 | | | 1,175,766 | | | 4914 | % \nShort-term investments | | | | | | | | | | 306,347 | | | \u2014 | | | 306,347 | | | N/A \nCapital expenditures | | 757 | | | 32,676 | | | (31,919 | ) | | (98 | )% | | 38,953 | | | 88,586 | | | (49,633 | ) | | (56 | )% \n \n_ (i) See \u201cNon-GAAP Measures\u201d for more information, including a reconciliation\nof adjusted operating loss \n_ _ (ii) Dollar amounts are as of the last day of the period indicated _\n\n**Fourth Quarter 2019**\n\n * Net revenue of $7.3 million in Q4 2019 increased by $3.0 million from Q4 2018, primarily driven by an increase in the volume of products sold in the Rest of World segment and the Redwood acquisition, partially offset by a decrease in the price of products sold in the Rest of World segment. \n * Gross profit (loss) of ($20.4) million in Q4 2019 decreased by $22.3 million from Q4 2018, primarily driven by the inventory write-down of $24.0 million. \n * The Company incurred an inventory write-down of $24.0 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $22.1 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-down, gross profit in Q4 2019, would have been $3.6 million, representing a gross margin of 50%. We anticipate inventory write-downs in the short-term due to pricing pressures in the marketplace and while the Company executes its operational repurposing of the Peace Naturals Campus. \n * Reported operating loss of ($63.9) million in Q4 2019 increased by $55.0 million from Q4 2018, primarily driven by the inventory write-down in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($56.6) million in Q4 2019 increased by $47.8 million from Q4 2018, primarily driven by inventory write-downs in Q4 2019 and an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**Full-Year 2019**\n\n * Net revenue of $23.8 million in Full-Year 2019 increased by $11.6 million from Full-Year 2018, primarily driven by an increase in the volume of sales in the Rest of World Segment due to increases in production, increases in the volume of wholesale sales and the launch of the adult-use market in Canada. \n * Gross profit (loss) of ($17.9) million in Full-Year 2019 decreased by $24.1 million from Full-Year 2018, primarily driven by the inventory write-down of $29.4 million. \n * The Company incurred an inventory write-down of $29.4 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $27.5 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-downs, gross profit in Full-Year 2019, would have been $11.6 million, representing a gross margin of 49%. \n * Reported operating loss of ($121.5) million in Full-Year 2019 increased by $100.1 million from Full-Year 2018, primarily driven by inventory write-downs in Full-Year 2019, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs related to the Company\u2019s two research partnerships and one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus. \n * Adjusted operating loss of ($114.2) million in Full-Year 2019 increased by $92.9 million from Full-Year 2018, primarily driven by inventory write-downs in Full-Year 2019, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs related to the Company\u2019s two research partnerships. \n\n**_Business Updates_ **\n\n**Brand Portfolio**\n\nIn December 2019, Cronos Group launched cannabis vaporizer devices for the\nCanadian adult-use market under the COVE\u2122 and Spinach\u2122 brands. In conjunction\nwith this launch, the Company created new, tailored 510 thread vaporizer\nproduct lines for the COVE\u2122 and Spinach\u2122 brands, including cartridges that are\ntamper resistant, made from high-quality stainless-steel components and food\ngrade silicone and have rechargeable draw batteries to prevent overheating.\nThe formulations use premium cannabis extract and come in all-natural terpene-\nrich flavors. The vaporizer products are currently available at cannabis\ncontrol authorities in Ontario, British Columbia, Manitoba, New Brunswick, and\nNova Scotia, as well as from private-sector retailers in Saskatchewan.\n\nIn the fourth quarter, we successfully executed three holiday pop-up shops in\nLos Angeles and New York City to provide consumers with a curated retail\nexperience of its Lord Jones\u2122 products.\n\nCronos Group made the decision to pause distribution of PEACE+\u2122 hemp-derived\nCBD tinctures through Altria Group. Inc.\u2019s (\u201cAltria\u201d) sales and distribution\nnetwork. Cronos Group remains focused on meeting the demands of adult\nconsumers and will continue to evaluate other product formats and categories\nthat we believe may be more suitable for the PEACE+ TM brand in the evolving\nenvironment.\n\n**Global Sales and Distribution**\n\nIn the fourth quarter, Cronos Group began selling cannabis flower and extract\nproducts to cannabis control authorities in Alberta, Manitoba, and Quebec. In\naddition to the new territories, the Company sells dried flower, pre-rolls,\ncannabis oils and cannabis extracts through its adult-use brands, COVE\u2122 and\nSpinach\u2122, to cannabis control authorities in Ontario, British Columbia, Nova\nScotia and Prince Edward Island, as well as to private-sector retailers in\nSaskatchewan.\n\nOn October 25, 2019, Cronos Australia announced the closing of an A$20.0\nmillion initial public offering. Cronos Group currently holds approximately 31\npercent of the issued capital of Cronos Australia. With the initial public\noffering complete, Cronos Group is positioned to continue participating in\nCronos Australia\u2019s growth in the medicinal market in the Asia-Pacific region\nwhile generating value for the Company\u2019s shareholders.\n\nIn the fourth quarter of 2019, Cronos Group completed its first test export of\nPEACE NATURALS\u2122 branded cannabis oil products to Cronos Australia for\ndistribution to the Australian medical market.\n\n**Global Supply Chain**\n\nIn November 2019, Cronos Group began an operational redesign at the Peace\nNaturals Campus to better align the business with our strategic priorities. As\npart of this effort, specific facilities at the Peace Naturals Campus are in\nthe process of being repurposed from cultivation to R&D, with a focus on\ndeveloping new technologies for value-added product manufacturing, and\nproduction of derivative products. This redesign will also increase vault and\nwarehousing capabilities at the facility.\n\nIn the fourth quarter of 2019, the Company recorded pre-tax charges of $7.2\nmillion related to the repurposing efforts at the Peace Naturals Campus, with\n$1.9 million associated with an inventory write-down and $5.3 million of\noperating expenses, primarily related to impairment costs. The Company does\nnot expect to incur any further significant costs related to the repurposing\nactivities.\n\nThe Cronos Israel facility continues to move closer to operational readiness.\nConstruction of Cronos Israel\u2019s greenhouse and facility was completed in the\nthird quarter of 2019. In December 2019, Cronos Israel successfully achieved\nGAP certification for propagation and cultivation, as well as GMP\ncertification for the manufacturing and production facilities. Commencement of\noperations at the Cronos Israel facility will be subject to obtaining the\nremaining necessary cannabis production licenses under applicable law.\n\n**Intellectual Property Initiatives**\n\nGinkgo Bioworks (\u201cGinkgo\u201d) has filed certain patent applications pertaining to\nbiosynthesis of cannabinoids to protect intellectual property developed as\npart of the research progressing under the partnership with Cronos Group.\nUnder the partnership, Cronos Group is the exclusive licensee of the\nintellectual property covered by the patent applications for the target\ncannabinoids.\n\nIn July 2019, Cronos Group acquired a GMP compliant fermentation and\nmanufacturing facility (\u201cCronos Fermentation\u201d) in Winnipeg, Manitoba. The\nacquisition is expected to provide the fermentation and manufacturing\ncapabilities needed in order to capitalize on the progress underway with\nGinkgo by enabling Cronos Group to produce high-quality cannabinoids at scale\nusing fermentation. In November 2019, a team of engineers, scientists,\nproduction and quality assurance personnel previously employed by Apotex\nFermentation Inc., joined Cronos Group.\n\nCronos Group commenced work on developing scale-up and downstream processes at\nCronos Fermentation, while in parallel Ginkgo develops microorganisms for\nproducing cultured cannabinoids. As Cronos Group develops the processes and\nparameters, these learnings will be applied for the strains that will be\nutilized for commercial production of cultured cannabinoids. Commercial\nproduction at the facility is subject to completion of the equipment alignment\nfor cannabinoid-based production, the receipt of the appropriate licenses from\nHealth Canada and the achievement of the relevant milestones under the Ginkgo\nStrategic Partnership.\n\n**Update on COVID-19**\n\nDespite the significant challenges posed by the outbreak of COVID-19, as a\ndesignated essential business, Cronos Group\u2019s global facilities currently\nremain operational. During this unprecedented time, the health, safety and\nwell-being of our employees and our consumers remains Cronos Group\u2019s top\npriority. The Company has business continuity plans in place to support its\nemployee base while continuing to develop and produce reliable, high-quality\nproducts that meet the needs of consumers. As part of this, the Company\nimplemented certain measures such as, among other measures, work-from-home\npolicies for certain employees, enhanced hygiene and sanitation practices,\nmodified schedules and social distancing protocols at the Peace Naturals\nCampus, Redwood, Cronos Fermentation, OGBC and Cronos Israel facilities.\nCronos Group will continue to act in accordance with guidance from local,\nfederal and international health and governmental authorities, and is prepared\nto make additional operational adjustments as necessary.\n\nThe spread and impact from COVID-19 on the global economy continues to rapidly\nevolve, and the ultimate impact of the COVID-19 outbreak is uncertain and\nsubject to change. Despite Cronos Group\u2019s business continuity efforts, the\nCompany may see an impact on certain parts of its business and operations such\nas operational capacity or supply chain delays. The Company continues to\nclosely monitor the rapidly evolving COVID-19 situation, and the impact it may\nhave on the Company, its customers and its supply chain.\n\n**_Rest of World Results_ **\n\nCronos Group\u2019s Rest of World reporting segment includes results of the\nCompany\u2019s operations for all markets outside of the United States of America.\nCronos Group owns and operates license holders, Peace Naturals and OGBC, and\ncurrently sells dried flower, pre-rolls and cannabis extracts in the Canadian\nadult-use and medical markets. The Company established strategic joint\nventures in Canada, Israel and Colombia. Cronos Group currently exports\ncannabis products to countries that permit the import of such products, such\nas Germany and Australia.\n\n_(in thousands of USD )_ | **Three months December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|--- \n| **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \nCannabis flower | $ | 2,877 | | | $ | 3,228 | | | $ | (351 | ) | | (11 | )% | | $ | 15,020 | | | $ | 9,210 | | | $ | 5,810 | | | 63 | % \nCannabis extracts | 1,678 | | | 1,028 | | | 650 | | | 63 | % | | 5,338 | | | 2,732 | | | 2,606 | | | 95 | % \nOther | 60 | | | 29 | | | 31 | | | 107 | % | | 28 | | | 179 | | | (151 | ) | | (84 | )% \nNet revenue | 4,615 | | | 4,285 | | | 330 | | | 8 | % | | 20,386 | | | 12,121 | | | 8,265 | | | 68 | % \n| | | | | | | | | | | | | | | \nGross profit | (21,805 | ) | | 1,880 | | | (23,685 | ) | | (1,260 | )% | | (19,737 | ) | | 6,213 | | | (25,950 | ) | | (418 | )% \nGross margin | (472 | )% | | 44 | % | | \u2014 | | | (516)pp | | (97 | )% | | 51 | % | | \u2014 | | | (148)pp \n| | | | | | | | | | | | | | | \nReported operating loss | $ | (59,066 | ) | | $ | (8,871 | ) | | $ | (50,195 | ) | | 566 | % | | $ | (106,928 | ) | | $ | (21,341 | ) | | $ | (85,587 | ) | | 401 | % \nAdjusted operating loss (i) | (51,798 | ) | | (8,871 | ) | | (42,927 | ) | | 484 | % | | (99,660 | ) | | (21,341 | ) | | (78,319 | ) | | 367 | % \n \n(i) _ See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted operating loss _\n\n**Fourth Quarter 2019** \n\n * Net revenue of $4.6 million in Q4 2019 increased by $0.3 million from Q4 2018, primarily driven by the introduction of vaporizer products and an increase in the volume of products sold, which were partially offset by a decrease in the price of products sold. \n * Gross profit (loss) of ($21.8) million in Q4 2019 decreased by $23.7 million from Q4 2018, primarily driven by the inventory write-down of $24.0 million. \n * The Company incurred an inventory write-down of $24.0 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $22.1 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-down, gross profit in Q4 2019, would have been $2.2 million, representing a gross margin of 48%. We anticipate inventory write-downs in the short-term due to pricing pressures in the marketplace and while the Company executes its operational repurposing of the Peace Naturals Campus. \n * Reported operating loss of ($59.1) million in Q4 2019 increased by $50.2 million from Q4 2018, primarily driven by the inventory write-down in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($51.8) million in Q4 2019 increased by $42.9 million from Q4 2018, primarily driven by inventory write-downs in Q4 2019 and an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**Full-Year 2019**\n\n * Net revenues of $20.4 million in Full-Year 2019 increased by $8.3 million from Full-Year 2018, primarily driven by higher volume of wholesale sales and an increase in the volume of products sold due to increased cannabis production and the growth of the adult-use market in Canada. \n * Gross profit (loss) of ($19.7) million in Full-Year 2019 decreased by $26.0 million from Full-Year 2018, primarily driven by the inventory write-down of $29.4 million. \n * The Company incurred an inventory write-down of $29.4 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $27.5 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-downs, gross profit in Full-Year 2019, would have been $9.7 million, representing a gross margin of 48%. \n * Reported operating loss of ($106.9) million in Full-Year 2019 increased $85.6 million from Full-Year 2018, primarily driven by inventory write-downs in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($99.7) million in Full-Year 2019 increased by $78.3 million from Full-Year 2018, primarily driven by inventory write-downs in Q4 2019, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**_United States Results_ **\n\nAs a result of Cronos Group\u2019s acquisition of Redwood on September 5, 2019, a\nmanufacturer and distributor of hemp-derived CBD infused products in the\nUnited States under the brand, Lord Jones\u2122, the Company established the United\nStates reporting segment.\n\n_(in thousands of USD)_ | **Three months December 31** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|--- \n| **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \nNet revenue | $ | 2,693 | | | \u2014 | | | N/A | | N/A | | $ | 3,364 | | | \u2014 | | | N/A | | N/A \n| | | | | | | | | | | | | | | \nGross profit | 1,430 | | | \u2014 | | | N/A | | N/A | | 1,873 | | | \u2014 | | | N/A | | N/A \nGross margin | 53 | % | | \u2014 | | | N/A | | N/A | | 56 | % | | \u2014 | | | N/A | | N/A \n| | | | | | | | | | | | | | | \nReported operating loss | $ | (1,797 | ) | | \u2014 | | | N/A | | N/A | | $ | (2,777 | ) | | \u2014 | | | N/A | | N/A \n \n**Fourth Quarter 2019**\n\n * Net revenues of $2.7 million in Q4 2019, driven by expanded distribution of Lord Jones TM branded products through online sales and an increased retail channel footprint. \n * Gross profit of $1.4 million in Q4 2019, driven by strong sales prices and brand equity. Gross margin for Q4 2019 was 53%. \n * Operating loss of ($1.8) million in Q4 2019, driven by increased investments in sales and marketing and general and administrative expenses as the business focuses on growth prospects and developing new brands and products. \n\n**Full-Year 2019**\n\n * Net revenue of $3.4 million in Full-Year 2019, driven by the Redwood Acquisition on September 5, 2019. \n * Gross profit of $1.9 million in Full-Year 2019, driven by sales through e-commerce, retail and hospitality channels within Q4 2019. Gross margin in Full-Year 2019 was 56%. \n * Operating loss of $2.8 million in Full-Year 2019, driven by the increase in gross profit and the increased sales and marketing costs incurred in relation to the preparation for the launch of the PEACE+\u2122 U.S hemp-derived CBD brand, as well as the introduction of several new U.S. hemp-derived CBD products under the Lord Jones\u2122 brand. \n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Monday,\nMarch 30, 2020 at 5:30 p.m. EDT to discuss 2019 fourth quarter and full-year\nresults, the Company's outlook and other matters. The call will last\napproximately one hour. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the conference call are\nprovided below:\n\n * _Live audio webcast:_[ https://ir.thecronosgroup.com/events-presentations ](https://ir.thecronosgroup.com/events-presentations) _ _\n * _Toll Free from the U.S. and Canada dial-in: (866) 795-2258_\n * _International dial-in: (409) 937-8902_\n * _Conference ID: 6999389_\n\n**About Cronos Group**\n\nCronos Group is an innovative global cannabinoid company with international\nproduction and distribution across five continents. Cronos Group is committed\nto building disruptive intellectual property by advancing cannabis research,\ntechnology and product development. With a passion to responsibly elevate the\nconsumer experience, Cronos Group is building an iconic brand portfolio.\nCronos Group\u2019s portfolio includes [ _PEACE NATURALS_\n](https://www.peacenaturals.com/) \u2122, a global health and wellness platform,\ntwo adult-use brands, [ _COVE_ ](https://covecannabis.ca/) \u2122 and [ _Spinach_\n](https://spinachcannabis.com/) \u2122, and two hemp-derived CBD brands, [ _Lord\nJones_ ](https://lordjones.com/) \u2122 and [ _PEACE+_\n](https://www.peaceplus.com/) \u2122. For more information about Cronos Group and\nits brands, please visit: _[ www.thecronosgroup.com\n](http://www.thecronosgroup.com \"www.thecronosgroup.com\") _ .\n\n**Forward-looking statements**\n\nThis press release may contain information that may constitute forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws (collectively, \u201cForward-Looking Statements\u201d), which are based\nupon our current internal expectations, estimates, projections, assumptions\nand beliefs. All information that is not clearly historical in nature may\nconstitute Forward-Looking Statements. In some cases, Forward-Looking\nStatements can be identified by the use of forward-looking terminology such as\n\u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d, \u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d,\n\u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and other similar words, expressions and\nphrases, including negative and grammatical variations thereof, or statements\nthat certain events or conditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of\nstrategy. Forward-Looking Statements include estimates, plans, expectations,\nopinions, forecasts, projections, targets, guidance or other statements that\nare not statements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the uncertainties associated with the COVID-19 pandemic, including our ability to continue operations, the ability of our suppliers and distribution channels to continue to operate, and the use of our products by consumers; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof including uncertainty regarding the application of United States (\u201cU.S.\u201d) state and federal law to U.S. hemp (including CBD) products and the scope of any regulations by the U.S. Federal Drug Administration (the \u201cFDA\u201d), the U.S. Federal Trade Commission (the \u201cFTC\u201d), the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over U.S. hemp (including CBD) products; \n * expectations regarding the regulation of the U.S. hemp industry in the U.S., including the promulgation of regulations for the U.S. hemp industry by the U.S. Department of Agriculture (the \u201cUSDA\u201d); \n * the grant, renewal and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our international activities and joint venture interests, including required regulatory approvals and licensing, anticipated costs and timing, and expected impact; \n * the ability to successfully create and launch brands and further create, launch and scale U.S. hemp-derived consumer products, including through the Redwood Acquisition (as defined herein) and cannabis products in jurisdictions where such products are legal and that we currently operate in; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis including CBD and other cannabinoids; \n * the anticipated benefits and impact of the Altria Group Inc.\u2019s C$2.4 billion (approximately $1.8 billion) investment in us (the \u201cAltria Investment\u201d); \n * the potential exercise of the warrant held by Altria Group Inc., pre-emptive rights and/or top-up rights in connection with the Altria Investment, including proceeds to us that may result therefrom; \n * expectations regarding the use of proceeds of equity financings, including the proceeds from the Altria Investment; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments, including the strategic partnership with Ginkgo Bioworks, Inc.; \n * our ability to execute on our strategy and the anticipated benefits of such strategy; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the future performance of our business and operations; \n * our competitive advantages and business strategies; \n * the competitive conditions of the industry; \n * the expected growth in the number of customers using our products; \n * our ability or plans to identify, develop, commercialize or expand our technology and research and development (\u201cR&D\u201d) initiatives in cannabinoids, or the success thereof; \n * expectations regarding acquisitions and the anticipated benefits therefrom, including the Redwood Acquisition and the acquisition of certain assets from Apotex Fermentation Inc.; \n * expectations regarding revenues, expenses and anticipated cash needs; \n * expectations regarding cash flow, liquidity and sources of funding; \n * expectations regarding capital expenditures; \n * the expansion of our production and manufacturing, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the expected growth in our growing, production and supply chain capacities; \n * expectations regarding the resolution of litigation and other legal proceedings; \n * expectations with respect to future production costs; \n * expectations with respect to future sales and distribution channels; \n * the expected methods to be used to distribute and sell our products; \n * our future product offerings; \n * the anticipated future gross margins of our operations; \n * accounting standards and estimates; \n * expectations regarding our distribution network; and \n * expectations regarding the costs and benefits associated with our contracts and agreements with third parties, including under our third-party supply and manufacturing agreements. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; (ii) our ability\nto generate cash flow from operations; (iii) general economic, financial\nmarket, regulatory and political conditions in which we operate; (iv) the\nproduction and manufacturing capabilities and output from our facilities and\nour joint ventures, strategic alliances and equity investments; (v) consumer\ninterest in our products; (vi) competition; (vii) anticipated and\nunanticipated costs; (viii) government regulation of our activities and\nproducts including but not limited to the areas of taxation and environmental\nprotection; (ix) the timely receipt of any required regulatory authorizations,\napprovals, consents, permits and/or licenses; (x) our ability to obtain\nqualified staff, equipment and services in a timely and cost-efficient manner;\n(xi) our ability to conduct operations in a safe, efficient and effective\nmanner; (xii) our ability to realize anticipated benefits, synergies or\ngenerate revenue, profits or value from our recent acquisitions into our\nexisting operations; (xiii) our ability to continue to operate in light of the\nCOVID-19 pandemic and the impact of the pandemic on sales of our products and\nour distribution channels; and (xiv) other considerations that management\nbelieves to be appropriate in the circumstances. While our management\nconsiders these assumptions to be reasonable based on information currently\navailable to management, there is no assurance that such expectations will\nprove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, the risk that the\nCOVID-19 pandemic may disrupt our operations and those of our suppliers and\ndistribution channels and negatively impact the use of our products; that cost\nsavings and any other synergies from the Altria Investment may not be fully\nrealized or may take longer to realize than expected; disruption from the\nAltria Investment making it more difficult to maintain relationships with\ncustomers, employees or suppliers; future levels of revenues; consumer demand\nfor cannabis and U.S. hemp products; our ability to manage disruptions in\ncredit markets or changes to our credit rating; future levels of capital,\nenvironmental or maintenance expenditures, general and administrative and\nother expenses; the success or timing of completion of ongoing or anticipated\ncapital or maintenance projects; business strategies, growth opportunities and\nexpected investment; the adequacy of our capital resources and liquidity,\nincluding but not limited to, availability of sufficient cash flow to execute\nour business plan (either within the expected timeframe or at all); the\npotential effects of judicial or other proceedings on our business, financial\ncondition, results of operations and cash flows; volatility in and/or\ndegradation of general economic, market, industry or business conditions;\ncompliance with applicable environmental, economic, health and safety, energy\nand other policies and regulations and in particular health concerns with\nrespect to vaping and the use of cannabis and U.S. hemp products in vaping\ndevices; the anticipated effects of actions of third parties such as\ncompetitors, activist investors or federal (including U.S. federal), state,\nprovincial, territorial or local regulatory authorities, self-regulatory\norganizations, plaintiffs in litigation or persons threatening litigation;\nchanges in regulatory requirements in relation to our business and products;\nand the factors discussed under the heading \u201cRisk Factors\u201d in this press\nrelease. Readers are cautioned to consider these and other factors,\nuncertainties and potential events carefully and not to put undue reliance on\nForward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as at and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned that the Forward-Looking Statements may not be\nappropriate for any other purpose. While we believe that the assumptions and\nexpectations reflected in the Forward-Looking Statements are reasonable based\non information currently available to management, there is no assurance that\nsuch assumptions and expectations will prove to have been correct. Forward-\nLooking Statements are made as of the date they are made and are based on the\nbeliefs, estimates, expectations and opinions of management on that date. We\nundertake no obligation to update or revise any Forward-Looking Statements,\nwhether as a result of new information, estimates or opinions, future events\nor results or otherwise or to explain any material difference between\nsubsequent actual events and such Forward-Looking Statements. The Forward-\nLooking Statements contained in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf are expressly qualified in their entirety by these cautionary\nstatements.\n\n**Use of Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with accounting\nprinciples generally recognized in the United States (\u201cGAAP\u201d). However,\nmanagement use various measures which are not recognized under GAAP such as\nadjusted operating loss, adjusted operating loss by business segment and\nadjusted earnings before interest, tax depreciation and amortization\n(\u201cAdjusted EBITDA\u201d). These non-GAAP measures may not be calculated the same as\nsimilarly titled measures used by other companies and should thus be\nconsidered as supplemental in nature and not considered in isolation or as a\nsubstitute for the related financial information prepared in accordance with\nGAAP. Management believes these measures provide useful insight into\nunderlying trends and results and will provide a more meaningful comparison of\nyear-over-year results, going forward. Management uses these metrics for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources. Reconciliations of each non-GAAP measure to US\nGAAP recognized measures are provided below. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n**As of December 31, 2019 and 2018** \n_(In thousands of USD)_\n\n| **As of December 31,** \n---|--- \n| **2019** | | **2018** \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 1,199,693 | | | $ | 23,927 | \nShort-term investments | 306,347 | | | \u2014 | \nAccounts receivable, net of current expected credit loss (\"CECL\") of $136 and $37 as of December 31, 2019 and 2018, respectively | 4,638 | | | 3,052 | \nOther receivables | 7,232 | | | 2,507 | \nCurrent portion of loans receivable | 4,664 | | | 230 | \nPrepaids and other assets | 9,395 | | | 2,842 | \nInventory | 38,043 | | | 7,386 | \nTotal current assets | 1,570,012 | | | 39,944 | \nInvestments in equity accounted investees | 557 | | | 2,960 | \nAdvances to joint ventures | 19,437 | | | 4,689 | \nOther investments | \u2014 | | | 297 | \nLoan receivable | 44,967 | | | \u2014 | \nProperty, plant and equipment | 161,809 | | | 125,905 | \nRight-of-use assets | 6,546 | | | 125 | \nIntangible assets | 72,320 | | | 8,237 | \nGoodwill | 214,794 | | | 1,314 | \n**Total assets** | $ | 2,090,442 | | | $ | 183,471 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable and other liabilities | $ | 35,301 | | | $ | 33,239 | \nCurrent portion of lease obligation | 427 | | | 30 | \nDerivative liabilities (Note 28) | 297,160 | | | \u2014 | \nTotal current liabilities | 332,888 | | | 33,269 | \nDue to non-controlling interests | 1,844 | | | 1,566 | \nLease obligation | 6,680 | | | 87 | \n**Total liabilities** | 341,412 | | | 34,922 | \nCommitments and contingencies (Note 21 & 22) | | | \n**Shareholders\u2019 equity** | | | \nShare capital (authorized: 2019 and 2018 \u2013 unlimited; issued: 2019 \u2013 348,817,472; 2018 \u2013 178,720,022) | 561,165 | | | 175,001 | \nAdditional paid-in capital | 23,234 | | | 11,263 | \nRetained earnings (accumulated deficit) | 1,137,646 | | | (27,945 | \nAccumulated other comprehensive income (loss) | 27,838 | | | (9,870 | \nTotal equity attributable to shareholders of Cronos Group | 1,749,883 | | | 148,449 | \nNon-controlling interests | (853 | ) | | 100 | \n**Total shareholders' equity** | 1,749,030 | | | 148,549 | \n**Total liabilities and shareholders' equity** | $ | 2,090,442 | | | $ | 183,471 | \n \nSee notes to consolidated financial statements. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n**For the years ended December 31, 2019, 2018, and 2017** \n_(In thousands of USD, except share and per share amounts)_\n\n| **Year ended December 31,** \n---|--- \n| **2019** | | **2018** | | **2017** \n**Net revenue, before excise taxes** | $ | 25,639 | | | $ | 13,234 | | | $ | 3,147 | \nExcise taxes | (1,889 | ) | | (1,113 | ) | | \u2014 | \n**Net revenue** | 23,750 | | | 12,121 | | | 3,147 | \nCost of sales | 12,174 | | | 5,908 | | | 1,573 | \nInventory write-down | 29,440 | | | \u2014 | | | \u2014 | \n**Gross profit (loss)** | (17,864 | ) | | 6,213 | | | 1,574 | \n**Operating expenses** | | | | | \nSales and marketing | 23,045 | | | 3,173 | | | 443 | \nResearch and development | 12,155 | | | 1,814 | | | \u2014 | \nGeneral and administrative | 49,372 | | | 13,447 | | | 4,904 | \nShare-based payments | 11,619 | | | 8,151 | | | 1,931 | \nDepreciation and amortization | 2,101 | | | 969 | | | 417 | \nRepurposing charges | 5,328 | | | \u2014 | | | \u2014 | \nTotal operating expenses | 103,620 | | | 27,554 | | | 7,695 | \n**Operating loss** | (121,484 | ) | | (21,341 | ) | | (6,121 | ) \n**Other income (expense)** | | | | | \nInterest income (expense) | 27,982 | | | 83 | | | (97 | ) \nFinancing and transaction costs | (32,208 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of derivative liabilities (Note 28) | 1,276,819 | | | \u2014 | | | \u2014 | \nGain on revaluation of financial liabilities | 197 | | | \u2014 | | | \u2014 | \nGain on disposal of Whistler | 15,530 | | | \u2014 | | | \u2014 | \nGain on other investments | 747 | | | 164 | | | 3,746 | \nShare of income (loss) from investments in equity accounted investees | (2,009 | ) | | (723 | ) | | 127 | \nTotal other income (expense) | 1,287,058 | | | (476 | ) | | 3,776 | \nIncome (loss) before income taxes | 1,165,574 | | | (21,817 | ) | | (2,345 | ) \nIncome tax recovery | \u2014 | | | \u2014 | | | (862 | ) \n**Net income (loss)** | $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Net income (loss) attributable to:** | | | | | \nCronos Group | $ | 1,166,506 | | | $ | (21,636 | ) | | $ | (1,483 | ) \nNon-controlling interests | (932 | ) | | (181 | ) | | 0 | \n| $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Other comprehensive income (loss)** | | | | | \nForeign exchange gain (loss) on translation | $ | 37,687 | | | $ | (12,337 | ) | | $ | 2,456 | \nGain on revaluation and disposal of other investments, net of tax | \u2014 | | | 3 | | | 415 | \nUnrealized gains reclassified to net income | \u2014 | | | \u2014 | | | (12 | ) \nTotal other comprehensive income (loss) | 37,687 | | | (12,334 | ) | | 2,859 | \n**Comprehensive income (loss)** | $ | 1,203,261 | | | $ | (34,151 | ) | | $ | 1,376 | \n**Comprehensive income (loss) attributable to:** | | | | | \nCronos Group | $ | 1,204,214 | | | $ | (33,964 | ) | | $ | 1,376 | \nNon-controlling interests | (953 | ) | | (187 | ) | | \u2014 | \n| $ | 1,203,261 | | | $ | (34,151 | ) | | $ | 1,376 | \n**Net income (loss) per share** | | | | | \nBasic | $ | 3.76 | | | $ | (0.13 | ) | | $ | (0.01 | ) \nDiluted | 3.33 | | | (0.13 | ) | | (0.01 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | 310,067,179 | | | 172,269,170 | | | 134,803,542 | \nDiluted | 342,811,992 | | | 172,269,170 | | | 176,789,161 | \n \nSee notes to consolidated financial statements.\n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n**For the quarters ended December 31, 2019 and 2018** \n_(In thousands of USD, except share and per share amounts)_\n\n| | **Three months ended December 31,** \n---|---|--- \n| | **2019** | | **2018** \n**Net revenue, before excise taxes** | $ | 7,915 | | | 5,398 | \nExcise taxes | | (607 | ) | | (1,113 | ) \n**Net revenue** | | 7,308 | | | 4,285 | \nCost of sales | | 3,667 | | | 2,405 | \nInventory write-down | | 24,016 | | | \u2014 | \n**Gross profit** | | (20,375 | ) | | 1,880 | \n**Operating expenses** | | | | \nSales and marketing | | 13,324 | | | 1,970 | \nResearch and development | | 6,079 | | | 1,814 | \nGeneral and administrative | | 14,314 | | | 4,544 | \nShare-based payments | | 3,670 | | | 2,183 | \nDepreciation and amortization | | 779 | | | 240 | \nRepurposing costs | | 5,328 | | | \u2014 | \nTotal operating expenses | | 43,494 | | | 10,751 | \n**Operating loss** | | (63,869 | ) | | (8,871 | ) \n**Other income (expense)** | | | | \nInterest income (expense) | | 7,514 | | | 177 | \nFinancing and transaction cost | | (524 | ) | | \u2014 | \nGain (loss) on revaluation of derivative liabilities (Note 11) | | 118,811 | | | \u2014 | \nGain on other investments | | 2 | | | (225 | ) \nGain on disposal of Whistler Medical Marijuana Company | | 32 | | | (15 | ) \nShare of income (loss) from investments in equity accounted investees | | (505 | ) | | (758 | ) \nGain (loss) on revaluation of financial liabilities | | 50 | | | \u2014 | \nTotal other income (expense) | | 125,380 | | | (821 | ) \nIncome (loss) before income taxes | | 61,511 | | | (9,692 | ) \nIncome tax recovery | | 58 | | | \u2014 | \n**Net income (loss)** | | 61,569 | | | (9,692 | ) \n**Net income (loss) attributable to:** | | | | \nCronos Group | $ | 62,005 | | | (9,558 | ) \nNon-controlling interests | | (436 | ) | | (134 | ) \n| $ | 61,569 | | | (9,692 | ) \n**Other comprehensive income (loss)** | | | | \nForeign exchange gain (loss) on translation | $ | 28,264 | | | (8,511 | ) \nGain on revaluation and disposal of other investments, net of tax | | \u2014 | | | 3 | \nTotal other comprehensive income (loss) | $ | 28,264 | | | (8,508 | ) \n**Comprehensive income (loss)** | | | | \n**Comprehensive income (loss) attributable to:** | | | | \nCronos Group | $ | 90,284 | | | (18,056 | ) \nNon-controlling interests | | (451 | ) | | (144 | ) \n| $ | 89,833 | | | (18,200 | ) \n**Net income (loss) per share** | | | | \nBasic | | $ | 0.18 | | | $ | (0.05 | ) \nDiluted | | 0.16 | | | (0.05 | ) \n**Weighted average number of outstanding shares** | | | | \nBasic | | 345,981,864 | | | 178,720,022 | \nDiluted | | 375,318,457 | | | 178,720,022 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n**For the years ended December 31, 2019, 2018, and 2017** \n_(In thousands of USD)_\n\n| | **Year ended December 31,** \n---|---|--- \n| **2019** | | **2018** | | **2017** \n**Operating activities** | | | | | \nNet income (loss) | $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Items not affecting cash:** | | | | | \nInventory write-down | 29,440 | | | \u2014 | | | \u2014 | \nShare-based payments | 11,619 | | | 8,151 | | | 1,931 | \nDepreciation and amortization | 3,913 | | | 1,937 | | | 768 | \nShare of loss (income) from investments in equity accounted investees | 2,009 | | | 723 | | | (127 | ) \nNon-cash repurposing costs | 4,439 | | | \u2014 | | | \u2014 | \nGain on disposal of Whistler | (15,530 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of derivative liabilities (Note 28) | (1,276,819 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of financial liabilities | (197 | ) | | \u2014 | | | \u2014 | \nGain on other investments | (747 | ) | | (164 | ) | | (3,746 | ) \nDeferred income tax expense (recovery) | \u2014 | | | \u2014 | | | (862 | ) \nForeign exchange gain | 115 | | | (9 | ) | | \u2014 | \nNon-cash sales and marketing | 410 | | | \u2014 | | | \u2014 | \nNon-cash interest | (25 | ) | | \u2014 | | | \u2014 | \nNet changes in non-cash working capital | (54,208 | ) | | 3,662 | | | (759 | ) \nCash flows used in operating activities | (130,007 | ) | | (7,517 | ) | | (4,278 | ) \n**Investing activities** | | | | | \nPurchase of short-term investments, net | (299,923 | ) | | \u2014 | | | \u2014 | \nRepayment of purchase price liability | \u2014 | | | \u2014 | | | (1,997 | ) \nInvestments in equity accounted investees | (1,658 | ) | | (480 | ) | | (830 | ) \nInvestment in Vivo | \u2014 | | | \u2014 | | | (783 | ) \nProceeds from sale of other investments | 19,614 | | | 747 | | | 8,388 | \nPayment to exercise Vivo warrants | \u2014 | | | (88 | ) | | (1,749 | ) \nAdvances to joint ventures | (15,135 | ) | | (5,358 | ) | | \u2014 | \nPurchase of property, plant and equipment, net of disposals | (38,664 | ) | | (88,308 | ) | | (32,926 | ) \nPayment of accrued interest on construction loan payable | (89 | ) | | (143 | ) | | \u2014 | \nPurchase of intangible assets | (289 | ) | | (278 | ) | | \u2014 | \nAcquisition of Redwood | (224,295 | ) | | \u2014 | | | \u2014 | \nAdvances on loans receivable | (43,337 | ) | | \u2014 | | | \u2014 | \nProceeds from repayment of loans receivable | 237 | | | \u2014 | | | \u2014 | \nCash flows used in investing activities | (603,539 | ) | | (93,908 | ) | | (29,897 | ) \n**Financing activities** | | | | | \nRepayment of lease obligations | (919 | ) | | \u2014 | | | \u2014 | \nProceeds from Altria Investment | 1,809,556 | | | \u2014 | | | \u2014 | \nProceeds from exercise of Top-up Rights | 67,051 | | | \u2014 | | | \u2014 | \nProceeds from exercise of warrants and options | 1,455 | | | 2,612 | | | 1,697 | \nWithholding taxes paid on share appreciation rights | (915 | ) | | (16 | ) | | \u2014 | \nProceeds from share issuance | \u2014 | | | 115,510 | | | 38,542 | \nShare issuance costs | (3,722 | ) | | (7,577 | ) | | (2,114 | ) \nProceeds from construction loan payable | \u2014 | | | 11,583 | | | 5,022 | \nRepayment of construction loan payable | (15,971 | ) | | \u2014 | | | \u2014 | \nAdvance under Credit Facility | 48,715 | | | \u2014 | | | \u2014 | \nRepayment of Credit Facility | (48,309 | ) | | \u2014 | | | \u2014 | \nRepayment of mortgage payable | \u2014 | | | \u2014 | | | (3,084 | ) \nTransaction costs paid on construction loan payable | \u2014 | | | \u2014 | | | (989 | ) \nCash flows provided by financing activities | 1,856,941 | | | 122,112 | | | 39,074 | \nEffect of foreign currency translation on cash and cash equivalents | 52,371 | | | (4,085 | ) | | (152 | ) \nIncrease in cash and cash equivalents | 1,175,766 | | | 16,602 | | | 4,747 | \nCash and cash equivalents, beginning of period | 23,927 | | | 7,325 | | | 2,578 | \nCash and cash equivalents, end of period | $ | 1,199,693 | | | $ | 23,927 | | | $ | 7,325 | \n \n \nSee notes to consolidated financial statements. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n**For the quarters ended December 31, 2019 and 2018** \n_(In thousands of USD)_\n\n| | **Three months December 31,** \n---|---|--- \n| | **2019** | | **2018** \n**Operating activities** | | | \nNet income (loss) | 61,570 | | | (9,692 | ) \nItems not affecting cash: | | | \nInventory write down | 24,016 | | | \u2014 | \nShare-based payments | 3,670 | | | 2,182 | \nDepreciation and amortization | 957 | | | 928 | \nShare of loss (income) from investments in equity accounted investees | 505 | | | 773 | \nNon-cash repurposing costs | 4,439 | | | \u2014 | \nGain on disposal of Whistler | (33 | ) | | \u2014 | \nGain on revaluation of derivative liabilities | (118,811 | ) | | \u2014 | \nGain on revaluation of financial liabilities | (50 | ) | | \u2014 | \nGain on other investments | (2 | ) | | 225 | \nDeferred income tax (recovery) expense | (58 | ) | | \u2014 | \nForeign exchange gain | (692 | ) | | (1 | ) \nNon-cash sales and marketing | 410 | | | \u2014 | \nNon-cash interest | (25 | ) | | \u2014 | \nNet changes in non-cash working capital | (29,110 | ) | | 23,882 | \nCash flows used in operating activities | (53,214 | ) | | 18,297 | \n**Investing activities** | | | \nPurchase of short term investments | 84,365 | | | \u2014 | \nRepayment of purchase price liability | \u2014 | | | \u2014 | \nInvestments in equity accounted investees | \u2014 | | | (326 | ) \nProceeds from sale of other investments | \u2014 | | | (10 | ) \nPayment to exercise Vivo Cannabis (\"Vivo\") warrants | \u2014 | | | 1 | \nAdvances to joint ventures | 816 | | | (2,291 | ) \nPurchase of property, plant and equipment | (1,042 | ) | | (32,625 | ) \nPayments of interest on construction in progress | \u2014 | | | 2 | \nPurchase of intangible assets | 285 | | | (51 | ) \nAcquisition of Redwood | 2,929 | | | \u2014 | \nAdvances on loans receivable | (10,325 | ) | | \u2014 | \nProceeds from repayment of loans receivable | (1 | ) | | \u2014 | \nCash assumed on acquisition | (2,957 | ) | | \u2014 | \nCash assumed on acquisition of Cronos Israel | \u2014 | | | (998 | ) \nCash flows used in investing activities | 74,070 | | | (36,298 | ) \n**Financing activities** | | | \nAdvance from non-controlling interests | (183 | ) | | \u2014 | \nRepayment of lease liabilities | (505 | ) | | \u2014 | \nProceeds from Altria Investment | \u2014 | | | \u2014 | \nProceeds from exercise of Top-up Rights | 35,485 | | | \u2014 | \nProceeds from exercise of options and warrants | \u2014 | | | (15 | ) \nWithholding taxes paid on share appreciation rights | (54 | ) | | (16 | ) \nProceeds from share issuance | \u2014 | | | \u2014 | \nShare issuance costs | \u2014 | | | 26 | \nProceeds from construction loan payable | \u2014 | | | 11,583 | \nRepayment of construction loan payable | \u2014 | | | \u2014 | \nAdvance under Credit Facility | \u2014 | | | \u2014 | \nRepayment of Credit Facility | \u2014 | | | \u2014 | \nRepayment of mortgage payable | \u2014 | | | \u2014 | \nTransaction costs paid on construction loan payable | \u2014 | | | \u2014 | \nCash flows provided by financing activities | 34,743 | | | 11,578 | \nEffect of foreign currency translation on cash and cash equivalents | 29,680 | | | (1,782 | ) \nIncrease (decrease) in cash and cash equivalents | 85,279 | | | (8,205 | ) \nCash and cash equivalents, beginning of period | 1,114,414 | | | 32,132 | \nCash and cash equivalents, end of period | $ | 1,199,693 | | | $ | 23,927 | \n \n**Non-GAAP Measures** \n\nThe Company uses certain measures that are not recognized under GAAP. These\nfinancial measures are not recognized under GAAP, do not have a standardized\nmeaning prescribed by GAAP and are therefore unlikely to be comparable to\nsimilar measures presented by other companies. Rather, these measures are\nprovided as a supplement to those GAAP measures to provide additional\ninformation regarding our results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding GAAP measures are\nprovided below.\n\n_Adjusted operating loss_ \nManagement reviews operating loss on an adjusted basis, which excludes certain\nincome and expense items that management believes are not part of underlying\noperations. These items include repurposing charges. Management does not view\nthese items to be part of underlying results as they may be highly variable,\nmay be infrequent, are difficult to predict and can distort underlying\nbusiness trends and results.\n\nManagement believes that adjusted operating loss provides useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of year-over-year results. Management uses adjusted operating loss\nfor planning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\n_(In thousands of USD)_ | | **Three months ended December 31,** | | **Year ended December 31,** \n---|---|---|---|--- \n| | **2019** | | **2018** | | **2019** | | **2018** \nReported operating loss | | $ | (63,869 | ) | | $ | (8,871 | ) | | $ | (121,484 | ) | | $ | (21,341 | ) \nAdjustments | | | | | | | | \nRepurposing charges | | 7,268 | | | \u2014 | | | 7,268 | | | \u2014 | \nAdjusted operating loss | | (56,601 | ) | | (8,871 | ) | | (114,216 | ) | | (21,341 | ) \n \n_ \n_\n\n_Adjusted operating loss by business segment_ \nManagement reviews segment operating loss, which excludes corporate expenses,\nand adjusted operating loss by business segment, which further excludes\ncertain income and expense items that management believes are not part of the\nunderlying segment\u2019s operations. Corporate expenses are expenses that relate\nto the consolidated business and not to an individual operating segment while\nthe income and expenses items include repurposing charges. Management does not\nview the income and expense items above to be part of underlying results of\nthe segment as they may be highly variable, may be infrequent, are difficult\nto predict and can distort underlying business trends and results.\n\nManagement believes that adjusted operating loss by business segment provides\nuseful insight into underlying segment trends and results and will provide a\nmore meaningful comparison of year-over-year results, going forward.\nManagement uses adjusted operating loss by business segment for planning,\nforecasting and evaluating segment performance, including allocating resources\nand evaluating results relative to employee compensation.\n\n_(In thousands of USD)_ | **Year ended December 31, 2019** \n---|--- \n| **US** | | **RoW** | | **Total Segments** | | **Corporate Expenses** | | **Total** \nReported operating loss | $ | (2,777 | ) | | $ | (106,928 | ) | | $ | (109,705 | ) | | $ | (11,779 | ) | | $ | (121,484 | ) \nAdjustments | | | | | | | | | \nRepurposing charges | \u2014 | | | 7,268 | | | 7,268 | | | \u2014 | | | 7,268 | \nAdjusted operating loss | (2,777 | ) | | (99,660 | ) | | (102,437 | ) | | (11,779 | ) | | (114,216 | ) \n \n \n\n_(In thousands of USD)_ | **Three months December 31, 2019** \n---|--- \n| **US** | | **RoW** | | **Total Segments** | | **Corporate Expenses** | | **Total** \nReported operating loss | $ | (1,797 | ) | | $ | (59,066 | ) | | $ | (60,863 | ) | | $ | (3,006 | ) | | $ | (63,869 | ) \nAdjustments | | | | | | | | | \nRepurposing charges | \u2014 | | | 7,268 | | | 7,268 | | | \u2014 | | | 7,268 | \nAdjusted operating loss | (1,797 | ) | | (51,798 | ) | | (53,595 | ) | | (3,006 | ) | | (56,601 | ) \n \n_Adjusted EBITDA_ \nAdjusted earnings before interest, tax depreciation and amortization\n(\u201cAdjusted EBITDA\u201d) is used by management as a supplemental measure to review\nand assess operating performance and trends on a comparable basis with the\nrest of the industry, although our measure of Adjusted EBITDA may not be\ndirectly comparable to similar measures used by other companies.\n\nManagement reviews EBITDA on an adjusted basis, which excludes net income\nattributable to non-controlling interests, repurposing charges and special\nitems. Special items consist of financing and transaction costs, other non-\ncash gains (losses) and other unforeseeable, non-recurring charges which\nmanagement has described below.\n\n_(In thousands of USD)_ | | **Three months December 31,** | | **Year ended December 31,** \n---|---|---|---|--- \n| | **2019** | | **2018** | | **2019** | | **2018** \nNet income (loss) | | $ | 61,569 | | | $ | (9,692 | ) | | $ | 1,165,574 | | | $ | (21,817 | ) \nAdjustments | | | | | | | | \nInterest expense (income) | | (7,514 | ) | | (177 | ) | | (27,982 | ) | | (83 | ) \nIncome tax expense (recovery) | | \u2014 | | | \u2014 | | | \u2014 | | | \u2014 | \nRepurposing charges | | 7,268 | | | \u2014 | | | 7,268 | | | \u2014 | \nFinancing and transaction costs | | 524 | | | \u2014 | | | 32,208 | | | \u2014 | \nLoss (gain) on revaluation of derivative liabilities | | (118,811 | ) | | \u2014 | | | (1,276,819 | ) | | \u2014 | \nLoss (gain) on revaluation of financial liabilities | | (50 | ) | | \u2014 | | | (197 | ) | | \u2014 | \nLoss (gain) on disposal of investments | | (34 | ) | | 240 | | | (16,277 | ) | | (164 | ) \nShare of loss (income) from equity accounted investees | | 505 | | | 758 | | | 2,009 | | | 723 | \nShare-based payments | | 3,670 | | | 2,183 | | | 11,619 | | | 8,151 | \nAdjusted EBIT | | (52,873 | ) | | (6,688 | ) | | (102,597 | ) | | (13,190 | ) \nAdjustments | | | | | | | | \nDepreciation and amortization | | 957 | | | 928 | | | 3,913 | | | 1,937 | \nAdjusted EBITDA | | (51,916 | ) | | (5,760 | ) | | (98,684 | ) | | (11,253 | ) \n \n** \n**\n\n**Special Items** \n\nManagement does not view any of the following special items to be part of the\nunderlying results as they may be highly variable, may be infrequent, may be\nunpredictable and may distort underlying business results and trends.\n\n_Peace Natural Campus repurposing charges_ \n\n * In Q4 of 2019, Cronos Group recorded pre-tax charges of $7.2 million related to the Company\u2019s decision to redesign its efforts at the Peace Naturals Campus, which includes impairment costs, inventory write-down, and employee termination benefits. \n\n_Financing and transaction costs_\n\n * In Full-Year 2019, Cronos Group recorded pre-tax charges of $32.2 million related to the Altria Investment; acquisition related costs associated with the Cronos Fermentation and Redwood transactions; and a term loan credit facility. \n * No financing and transaction costs were recorded in 2018. \n\n_Gain on revaluation of derivative liabilities_\n\n * In Q4 2019, Cronos Group recorded a pre-tax unrealized gain of $118.8 million primarily resulting from the non-cash change in the fair value of financial derivative liabilities associated with the investment by Altria Group, Inc. (\u201cAltria\u201d). \n * In Full-Year 2019, Cronos Group recorded a pre-tax unrealized gain of $1,276.8 million primarily resulting from the non-cash change in the fair value of financial derivative liabilities associated with the investment by Altria. \n\n_Gain on disposal of investments_\n\n * In Full-Year 2019, Cronos Group recorded a pre-tax gain of $21.5 million primarily related to the disposal of shares in Whistler Marijuana Company (\u201cWhistler\u201d) to Aurora Cannabis Inc. (\u201cAurora\u201d) in connection with Aurora\u2019s acquisition of Whistler. \n * In Full-Year 2018, Cronos Group recorded a pre-tax gain of $0.2 million related to the disposal of its investment in AB Cann Global Corporation. \n\n**Foreign currency exchange rates**\n\nAll currency amounts in this Press Release are stated in U.S. dollars (\u201cUSD\u201d),\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to USD. The assets and liabilities of the Company's\nforeign operations are translated into USD at the exchange rate in effect as\nof December 31, 2019 and December 31, 2018. Transactions affecting\nshareholders' equity are translated at historical foreign exchange rates. The\nconsolidated statements of net income (loss) and comprehensive income (loss)\nand the consolidated statements of cash flows of the Company's foreign\noperations are translated into USD by applying the average foreign exchange\nrate in effect for the reporting period.\n\nThe exchange rates used to translate from USD to Canadian dollars (\u201cC$\u201d) is\nshown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As at December 31,** \n---|--- \n| **2019** | | **2018** | | **2017** \nAverage rate | 1.3268 | | | 1.2955 | | | 1.2969 | \nSpot rate | 1.2990 | | | 1.3639 | | | 1.2571 | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \n_[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com\n\"investor.relations@thecronosgroup.com\") _\n\n \n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "GlobeNewswire is a reputable source for press releases, and this release contains information directly from Cronos Group about their financial results.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Cronos Group's press release about their 2019 financial results.",
"url": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "852d4e14-3b88-4800-8549-03a907760ca3",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-company-cronos-group.html"
},
"page_content": "Skip Navigation\n\n[ ](/)\n\n[ Markets ](/markets/)\n\n[ Business ](/business/)\n\n[ Investing ](/investing/)\n\n[ Tech ](/technology/)\n\n[ Politics ](/politics/)\n\n[ Video ](/tv/)\n\n[ Watchlist ](/watchlist/)\n\n[ Investing Club\n](/investingclub/subscribe?__source=investingclub|globalnav|join&tpcc=investingclub|globalnav|join)\n\n[ PRO ](/application/pro?__source=pro|globalnav|join&tpcc=pro|globalnav|join)\n\n[ Livestream ](/live-tv/)\n\nKey Points\n\n * Altria Group will buy a 45 percent stake in leading cannabinoid company Cronos Group for about $1.8 billion. \n * Altria will discontinue MarkTen and Green Smoke e-cigarette products and its Verve oral nicotine. \n * The company is still weighing an investment in e-cigarette company Juul, and talks could conclude by year-end, a person familiar with the situation tells CNBC. \n * The steps are a sign of the new world in which Altria must compete. \n\nPeace Naturals products owned by Cronos Group\n\nSource: Peace Naturals\n\n[ Altria Group ](/quotes/MO/) said Friday it has agreed to buy a 45 percent\nstake in leading cannabinoid company [ Cronos Group ](/quotes/CRON-CA/) for\nabout $1.8 billion, a sign of the new world in which the tobacco company must\ncompete.\n\nAltria is also weighing an investment in e-cigarette company Juul, CNBC has\nreported. Those talks could be completed by year-end, a person familiar with\nthe situation tells CNBC.\n\nSales of cigarettes have slowed and its customers have either turned to other\nrecreational products \u2014 like cannabis and e-cigarettes \u2014 or are threatening to\ndo so. Those industries, though, are in need of expertise to navigate\nregulatory hurdles and capital to invest in their company.\n\n\"The proceeds from Altria's investment will enable us to more quickly expand\nour global infrastructure and distribution footprint, while also increasing\ninvestments in R&D and brands that resonate with our consumer,\" Cronos CEO\nMike Gorenstein said in a statement.\n\nIt also helps \"make sure we're getting in front of regulators,\" Gorenstein\ntold CNBC on Friday.\n\nTalks between Cronos and Altria have been ongoing for more than a month,\npeople familiar with the situation told CNBC. Altria is one of several parties\nwith which Cronos considered partnering, they added.\n\nAltria's expertise with vaping products appealed to Cronos, which sees\nopportunity customizing vaporizers for cannabis, Gorenstein said.\n\nAs part of the deal, Altria has a warrant that would allow it to increase its\nstake in Cronos to about 55 percent at a price of $19 per share. It allows\nCronos the flexibility to take investments from other companies such as, for\nexample, a big food company.\n\nCronos is headquartered in Toronto, where cannabis has been [ nationally legal\nsince October ](https://www.cnbc.com/2018/10/17/canadas-legal-pot-sales-\nthreaten-the-us-cannabis-market-ceo-says.html) . It has no U.S. operations,\nwhere the industry remains illegal at a federal level but legal in 33 states\nand the District of Columbia.\n\nAltria, meantime, sells the vast amount of its tobacco in the U.S. Its\nestablished U.S. presence should, therefore, serve to benefit Cronos, when or\nif cannabis is legalized federally. Altria does have an affiliate, National\nSmokeless Tobacco Company, that operates in Canada.\n\nThe deal is the latest in a flurry of conversations that have taken place\nacross the consumer industry, where the threat of cannabis growth looms large\nover established, growth-starved industries spanning tobacco, soda and beer.\nNo longer known just for its smoked product, cannabis has evolved to offer\nproducts for health, wellness, sleep and socializing.\n\nWith so much still uncertain, including who the industry winners will be,\ncompanies are still moving cautiously. For several, this includes stakes\nrather than initial full acquisitions. Corona parent [ Constellation Brands\n](/quotes/STZ/) recently increased its investment in Canopy Growth [ with a\n9.9 percent stake ](https://www.cnbc.com/2018/08/15/corona-maker-\nconstellation-ups-bet-on-cannabis-with-4-billion-investm.html) .\n\nThe \"most important aspect of growth is going to be innovation and R&D,\"\nGorenstein said.\n\nAs part of the agreement, Altria will be able to name four directors to Cronos\nboard, including one independent director. These additions will boost the size\nof Cronos' board to seven from five directors.\n\nAltria also announced plans to [ discontinue its MarkTen and Green Smoke\ne-cigarette products ](https://www.cnbc.com/2018/12/07/altria-closes-e-\ncigarette-brands-as-it-eyes-juul-awaits-iqos-decision.html) and its Verve oral\nnicotine, citing the financial performance of these products combined with\nheightened regulatory restrictions for its decision.\n\nAltria said it plans to refocus its resources on more compelling reduced-risk\ntobacco product opportunities.\n\nIn connection with these steps, Altria expects to record a one-time pretax\ncharge of about $200 million in the fourth quarter. Most of the charge will be\na noncash asset impairment charge and will be excluded from the company's\nadjusted earnings.\n\nIn midday trading Friday, Cronos shares were up 22 percent on the news, while\nAltria shares gained 1.1 percent.\n\n_\u2014CNBC's Angelica Lavito contributed to this article_\n\n**WATCH:** [ Six experts on the cannabis craze\n](https://www.cnbc.com/video/2018/09/19/cannabis-marjiuana-pot-stocks-\ninvesting.html)\n\nwatch now\n\nVIDEO 4:49 04:49\n\nSix experts on whether the cannabis craze is a boom or bust\n\n[ Trading Nation ](https://www.cnbc.com/trading-nation/)\n\n[ ](//www.cnbc.com)\n\n * [ ](https://www.facebook.com/cnbc/)\n * [ ](https://www.twitter.com/cnbc/)\n * [ ](https://www.linkedin.com/company/cnbc/)\n * [ ](https://www.instagram.com/cnbc/)\n * [ ](https://www.youtube.com/user/cnbc/)\n * [ ](https://apple.news/T3OtoXcxtRkuHRkM7SpFP_Q)\n * [ ](/rss-feeds/)\n\n * [ Subscribe to CNBC PRO ](/application/pro/?__source=pro|globalfooter)\n * [ Subscribe to Investing Club ](/investingclub/subscribe?__source=investingclub|globalfooter)\n * [ Licensing & Reprints ](/cnbc-reprints/)\n * [ CNBC Councils ](https://www.cnbccouncils.com/)\n * [ Select Personal Finance ](/select/)\n * [ CNBC on Peacock ](https://www.peacocktv.com/?cid=20200101evergreensymdisp009&utm_source=cnbc&utm_medium=symphony_editorial_brandawareness_footerlink&utm_campaign=20200101evergreen&utm_term=na&utm_content=na_na/)\n * [ Join the CNBC Panel ](https://cnbcrsh.qualtrics.com/jfe/form/SV_dgRx5X1nYC0YjNI?Origin=cnbc)\n * [ Supply Chain Values ](https://corporate.comcast.com/values/integrity)\n * [ Select Shopping ](https://www.nbcnews.com/select)\n * [ Closed Captioning ](/closed-captioning/)\n * [ Digital Products ](/digital-products/)\n * [ News Releases ](/cnbc-news-releases/)\n * [ Internships ](/cnbc-internship-program/)\n * [ Corrections ](/corrections/)\n * [ About CNBC ](/about/)\n * [ Ad Choices ](https://www.nbcuniversal.com/privacy/cookies#accordionheader2)\n * [ Site Map ](/site-map/)\n * [ Podcasts ](/podcast/)\n * [ Careers ](/cnbc-careers-and-employment/)\n * [ Help ](https://help.cnbc.com/)\n * [ Contact ](https://help.cnbc.com/contact/)\n\n * #### News Tips \n\nGot a confidential news tip? We want to hear from you.\n\n[ Get In Touch ](/news-tips/)\n\n * #### CNBC Newsletters \n\nSign up for free newsletters and get more CNBC delivered to your inbox\n\n[ Sign Up Now ](/sign-up-for-cnbc-newsletters/)\n\nGet this delivered to your inbox, and more info about our products and\nservices.\n\n * #### Advertise With Us \n\n[ Please Contact Us\n](https://together.nbcuni.com/advertise/?utm_source=cnbc&utm_medium=referral&utm_campaign=property_ad_pages)\n\n * [ Privacy Policy ](https://www.nbcuniversal.com/privacy?intake=CNBC)\n * * [ CA Notice ](https://www.nbcuniversal.com/privacy/california-consumer-privacy-act?intake=CNBC)\n * [ Terms of Service ](/terms)\n\n\u00a9 2025 CNBC LLC. All Rights Reserved. [ A Division of NBCUniversal\n](https://www.nbcuniversal.com)\n\nData is a real-time snapshot *Data is delayed at least 15 minutes. Global\nBusiness and Financial News, Stock Quotes, and Market Data and Analysis.\n\n[ Market Data Terms of Use and Disclaimers ](/market-data-terms-of-service/)\n\nData also provided by [ ](/market-data-terms-of-service/)\n\n",
"url": "https://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-company-cronos-group.html"
},
"reason": "CNBC is a reputable news source, and this article reports on Altria's investment in Cronos Group, indicating a high level of reliability.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on Altria's investment in Cronos Group.",
"url": "https://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-company-cronos-group.html"
},
{
"content": {
"metadata": {
"ext_id": "4e973a15-8d23-495c-8321-8cddf2fdee2c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.growopportunity.ca/cronos-group-reports-2024-third-quarter-results/"
},
"page_content": "[ ](https://www.growopportunity.ca/ \"Grow Opportunity\")\n\n[ **Buyers Guide** ](/buyers-guide \"Buyers Guide\")\n\n[ **Subscribe**\n](https://annex.dragonforms.com/loading.do?omedasite=GO_prefsnew)\n\n[ **Subscribe**\n](https://annex.dragonforms.com/loading.do?omedasite=GO_prefsnew)\n\n\u00d7\n\n#### Explore\n\n * [ News ](https://www.growopportunity.ca/category/news/)\n * [ Industry Updates ](https://www.growopportunity.ca/category/news/industry-updates/)\n * [ Markets ](https://www.growopportunity.ca/category/news/markets/)\n * [ Regulations ](https://www.growopportunity.ca/category/news/regulations/)\n * [ Features ](https://www.growopportunity.ca/category/features/)\n * [ Opinion ](https://www.growopportunity.ca/topic/opinion/)\n * [ Webinars ](/webinars)\n * [ Podcast ](/podcast/)\n * [ Buyers Guide ](https://www.growopportunity.ca/buyers-guide/)\n * [ Canada\u2019s Top Grower ](https://www.growopportunity.ca/canadas-top-grower/)\n * [ Virtual Summits ](/virtual-events)\n * [ Grower Day ](https://www.growerday.ca)\n * [ Videos ](/videos/)\n\n#### Topics\n\n * [ Cultivation ](https://www.growopportunity.ca/topic/cultivation/)\n * [ Extraction ](https://www.growopportunity.ca/topic/extraction/)\n * [ Production ](https://www.growopportunity.ca/topic/production/)\n * [ Security ](https://www.growopportunity.ca/topic/security/)\n * [ Legal ](https://www.growopportunity.ca/topic/legal/)\n * [ Management ](https://www.growopportunity.ca/topic/management/)\n * [ Business ](https://www.growopportunity.ca/topic/business/)\n * [ Marketing ](https://www.growopportunity.ca/topic/marketing/)\n * [ Human Resources ](https://www.growopportunity.ca/topic/human-resources/)\n * [ Opinion ](https://www.growopportunity.ca/topic/opinion/)\n * [ Extraction ](https://www.growopportunity.ca/topic/extraction/)\n\n#### Information\n\n * [ About ](https://www.growopportunity.ca/about/)\n * [ Advertise ](https://www.growopportunity.ca/advertise/)\n * [ Contact ](https://www.growopportunity.ca/contact/)\n * [ Digital Edition ](https://www.growopportunity.ca/digital-edition/)\n * [ eNews Archives ](https://www.growopportunity.ca/enews-archives/)\n * [ Subscription ](https://annex.dragonforms.com/loading.do?omedasite=GO_digital)\n\n# [ News ](https://www.growopportunity.ca/category/news/) __ \nCronos Group reports 2024 third quarter results\n\nNovember 12, 2024 By Grow Opportunity Staff\n\n \n\n(Globe Newswire) Toronto \u2013 Cronos Group Inc. today announced its 2024 third\nquarter business results.\n\n\u201cOur results this quarter demonstrate that our long-term strategy is working.\nWith record net revenue and a disciplined approach to operating expenses,\nCronos operates more efficiently and effectively than ever before, and we\nanticipate long-term margin improvement. Our consolidation of Cronos Growing\nCompany has further strengthened our supply chain, which we anticipate will\nlead to improved margins and allow us to meet the increasing global demand for\nhigh-quality cannabis . With an industry-leading balance sheet, we are well-\npositioned to expand into new legal markets and drive future growth\nopportunities,\u201d said Mike Gorenstein, Chairman, President and CEO, Cronos.\n\n\u201cAs international demand continues to rise, particularly in markets like\nGermany, the UK, and Australia, the investments we\u2019ve made in our\ninfrastructure and global partnerships are paying off,\u201d continued Mr.\nGorenstein. \u201cIn the third quarter, our award-winning Spinach \u00ae brand rose to\nbecome the best-selling cannabis brand in the Canadian adult-use market and\nour Peace Naturals \u00ae brand held a top spot in the Israeli medical market.\nOur brands\u2019 market share out-performance represents our relentless commitment\nto quality, innovation, and bringing differentiated products to the global\ncannabis market. The progress we\u2019ve made reinforces our leadership in key\ncategories and markets, and we remain focused on continuing to innovate and\nbring premium products to consumers.\u201d\n\n1 Hifyre Retail Analytics \u2013 National Retail Dollar Sales by Brand in Canada \u2013\nAugust 2024.\n\nAdvertisement\n\n**_Consolidated Financial Results_ ** \nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\u201d Cronos GrowCo\u201d) to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo\u2019s results as of July 1, 2024.\nPrior to this date, the Company\u2019s investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in the condensed\nconsolidated statements of net income (loss) and comprehensive income (loss).\nPrior period amounts have been reclassified to reflect the discontinued\noperations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three months ended September 30,** | | **Change** | | **Nine months ended September 30,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 29,996 | | | $ | 24,810 | | | $ | 5,186 | | | 21 | % | | $ | 83,046 | | | $ | 63,326 | | | $ | 19,720 | | | 31 | % \nCronos GrowCo net revenue ( i i ) | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A \nNet revenue | | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | | 38 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 30,341 | | | | 20,124 | | | | 10,217 | | | 51 | % | | | 72,216 | | | | 52,614 | | | | 19,602 | | | 37 | % \nInventory write-down | | | 312 | | | | 716 | | | | (404 | ) | | (56 | )% | | | 707 | | | | 716 | | | | (9 | ) | | (1 | )% \nGross profit | | $ | 3,611 | | | $ | 3,970 | | | $ | (359 | ) | | (9 | )% | | $ | 14,391 | | | $ | 9,996 | | | $ | 4,395 | | | 44 | % \nGross margin (iii) | | | 11 | % | | | 16 | % | | N/A | | (5) pp | | | 16 | % | | | 16 | % | | N/A | | \u2014pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A \nAdjusted Gross Profit ( i v ) | | $ | 10,727 | | | $ | 3,970 | | | $ | 6,757 | | | 170 | % | | $ | 21,507 | | | $ | 9,996 | | | $ | 11,511 | | | 115 | % \nAdjusted Gross Margin ( v ) | | | 31 | % | | | 16 | % | | N/A | | 15pp | | | 25 | % | | | 16 | % | | N/A | | 9pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 7,324 | | | $ | (1,590 | ) | | $ | 8,914 | | | N/M | | $ | (3,919 | ) | | $ | (25,288 | ) | | $ | 21,369 | | | 85 | % \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (6,019 | ) | | $ | (15,187 | ) | | $ | 9,168 | | | 60 | % | | $ | (27,739 | ) | | $ | (46,774 | ) | | $ | 19,035 | | | 41 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents (vi) | | $ | 862,034 | | | $ | 571,656 | | | $ | 290,378 | | | 51 | % | | | | | | | | \nShort-term investments (vi) | | | \u2014 | | | | 267,905 | | | | (267,905 | ) | | (100 | )% | | | | | | | | \nCapital expenditures ( vii ) | | | 6,536 | | | | 325 | | | | 6,211 | | | 1,911 | % | | | 9,446 | | | | 1,631 | | | | 7,815 | | | 479 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is Net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo\u2019s net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\u201cAdjusted EBITDA\u201d) to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\nAdvertisement\n\n**Third Quarter** **2024**\n\n * Net revenue of $34.3 million in Q3 2024 increased by $9.5 million from Q3 2023. The increase was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and sales to other international markets consisting of Australia, Germany and the United Kingdom (the \u201cUK\u201d). Cronos GrowCo contributed $4.3 million of cannabis flower sales in both the three and nine months ended September 30, 2024. \n * Gross profit of $3.6 million in Q3 2024 decreased by $0.4 million from Q3 2023. The decrease was primarily due to the impact on cost of sales from the inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction on July 1, 2024, partially offset by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted Gross Profit of $10.7 million in Q3 2024 increased by $6.8 million from Q3 2023. Adjusted Gross Profit and Adjusted Gross Margin provide insight into underlying business trends to facilitate comparisons of period-over-period results by removing the impacts of inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction, which reflect a one-time event and do not reflect management\u2019s assessment of ongoing performance. The increase in Adjusted Gross Profit was driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted EBITDA of $(6.0) million in Q3 2024 improved by $9.2 million from Q3 2023. The improvement year-over-year was primarily driven by higher net revenue, improved Adjusted Gross Profit and a decrease in general and administrative expenses. \n\n**_Business Updates_ **\n\n**Transaction with Cronos GrowCo** \nThe global cannabis market continues to expand as international markets fuel\nan increasing demand for high-quality products. The investment in Cronos\nGrowCo\u2019s facility expansion enables Cronos to increase supply of Cronos\u2019\nunique portfolio of genetics which has helped the Company win in the highly\ncompetitive Canadian market, as well as expand Cronos\u2019 international footprint\nwith distribution to the growing markets in Australia, Germany, and the UK.\n\n**Key highlights of the transaction:**\n\nAdvertisement\n\n * **Increased Board Representation** : As of July 1, 2024, the Cronos GrowCo board of directors expanded to five members, three of whom are appointed by Cronos. \n * **Financial Consolidation** : Cronos now consolidates Cronos GrowCo\u2019s results in its financial statements beginning in the third quarter of 2024. \n * **Investment in Expansion** : Cronos provided an approximately $51 million ($70 million CAD) secured non-revolving credit facility to Cronos GrowCo to fund the expansion of Cronos GrowCo\u2019s cultivation and processing facilities, enabling growth opportunities in the markets Cronos operates in today as well as enabling Cronos to take advantage of future growth into new markets that open. \n * **New Supply Agreement** : Prior to the commencement of sales from the expanded facility, Cronos will have the option to purchase up to 80% of Cronos GrowCo\u2019s total production. Thereafter, Cronos will have the option to purchase up to 70% of the total production from the expanded facility. \n\n**Brand and Product Portfolio**\n\n**_Spinach_ ** \u00ae\n\nIn Q3 2024, Spinach \u00ae was the top-selling cannabis brand in Canada\naccording to Hifyre. This market share success highlights Cronos\u2019 unwavering\ndedication to quality, innovation, and delivering distinctive products to the\ncompetitive Canadian adult-use market.\n\nSpinach \u00ae has solidified itself as the go-to brand for a wide array of\nproducts featuring different cannabinoid combinations, potency ranges and\nflavor profiles. In the edibles category, the Spinach \u00ae brand held the\nnumber one position with a 17.2% market share in Q3 2024, according to Hifyre.\n\nIn Q3 2024, the Spinach \u00ae brand launched three new edible SKUs, which included the SOURZ by Spinach \u00ae Strawberry Watermelon 4:1 CBG|THC gummies, SOURZ by Spinach \u00ae Peach Passionfruit 1:1:1 CBN | CBD | THC gummies, and the brand\u2019s first limited edition SOURZ by Spinach \u00ae Caramel Green Apple gummies. \n\nCronos\u2019 strong cannabis cultivar breeding program and portfolio of genetics\ncontinued to drive growth, propelling the Spinach \u00ae brand to become the\nnumber one flower brand in Canada, with a 6.0% market share in Q3 2024,\naccording to Hifyre.\n\nThe Spinach \u00ae brand was ranked fourth in the vape category in Q3 2024,\nholding a 6.4% market share, according to Hifyre. This performance was driven\nby popular products such as Spinach HITZ\u2122, which introduced new Pink Lemonade\nand Rocket Icicle flavors, alongside line extensions in Spinach \u00ae 1.2g\nVapes.\n\nIn Q3 2024, Spinach \u00ae was ranked eighth in the pre-roll category with 2.7%\nmarket share, according to Hifyre. In the sub-category of infused pre-rolls,\nthe Spinach \u00ae Fully Charged infused pre-rolls have begun to make their mark\nand are trending towards becoming a top selling product. The infused pre-roll\ncategory is continuing to grow and we expect this category to be key to future\ngrowth for both Cronos and the industry, which is why we are committed to\nevolution and innovation of the pre-roll portfolio.\n\n**_PEACE NATURALS_ ** **_\u00ae_ **\n\nIn Israel, PEACE NATURALS \u00ae continues to be a top-performing brand with a\nrecord volume of sales in Q3 2024, powered by Cronos\u2019 advanced genetic\nbreeding program and high-quality cultivation capabilities. Despite the\nconflict involving Israel, Hamas, Iran and other stakeholders in the region,\nan incredibly competitive market and declining patient counts due to\nregulatory market structure shifts, the brand continues to out-perform in the\nIsraeli cannabis market.\n\nIn Germany and the UK, we are experiencing strong traction with Cronos\u2019\nproprietary genetics, such as GMO and Wedding Cake, under the PEACE NATURALS\n\u00ae brand. The expansion of Cronos GrowCo will help enable Cronos to execute on\nthese growth opportunities and others as they become available.\n\n**Guidance and Outlook**\n\nThe Company reiterates its previously announced operating expense savings\ntarget of $5 to $10 million on a standalone basis in 2024 primarily driven by\nsavings in general and administrative, sales and marketing and research and\ndevelopment (\u201cR&D\u201d). The organizational and cost savings initiatives are\nintended to position the Company to drive profitable and sustainable growth\nover time. The operating expense savings target excludes the impact of the\nconsolidation of Cronos GrowCo\u2019s results into the Company\u2019s financial\nstatements.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause actual results to differ materially from these forward-\nlooking statements.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nNovember 12, 2024, at 8:30 a.m. ET to discuss 2024 Third Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany\u2019s website at _https://ir.thecronosgroup.com/events-presentations._\n\n* * *\n\n[ __ Print this page ](javascript:window.print\\(\\))\n\n * [ Tweet ](https://twitter.com/share)\n * * \n\n * __ [ HYTN announces marketing program ](https://www.growopportunity.ca/hytn-announces-marketing-program/)\n * [ High Tide announces closing of final tranche of $15 million subordinated debt facility ](https://www.growopportunity.ca/high-tide-announces-closing-of-final-tranche-of-15-million-subordinated-debt-facility/) __\n\n## Advertisement\n\nStories continue below\n\n \n \n\nRelated\n\n \n\nTags\n\n * [ news ](https://www.growopportunity.ca/tag/news/)\n\n \n\n[ ](https://www.growopportunity.ca/ \"Grow Opportunity\")\n\n* * *\n\n * [ Greenhouse Canada ](https://www.greenhousecanada.com/)\n * [ Grower Day ](https://www.growerday.ca)\n * [ Canada\u2019s Top Grower ](https://www.growopportunity.ca/canadas-top-grower/)\n\n### Trending\n\n### Social Media\n\n * [ **X** ](https://www.x.com/GrowOpportunity?lang=en)\n * [ __ ](https://www.facebook.com/GrowOpportunity)\n * [ __ ](https://www.instagram.com/growopportunity)\n * [ __ ](https://www.linkedin.com/company/grow-opportunity)\n\n* * *\n\n__\n\n\u00a9 Copyright 2025 [ Annex Business Media ](https://www.annexbusinessmedia.com\n\"Annex Business Media\")\n\n \n \n\nWe are using cookies to give you the best experience on our website. \nBy continuing to use the site, you agree to the use of cookies. To find out\nmore, read our [ privacy policy ](https://www.annexbusinessmedia.com/privacy-\npolicy/) .\n\n",
"url": "https://www.growopportunity.ca/cronos-group-reports-2024-third-quarter-results/"
},
"reason": "This is a reputable news source providing financial information about Cronos Group. It appears to be factual and well-reported.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on Cronos Group's 2024 third-quarter results.",
"url": "https://www.growopportunity.ca/cronos-group-reports-2024-third-quarter-results/"
},
{
"content": {
"metadata": {
"ext_id": "63eb11c0-3e16-4729-bd52-7a30e9137115",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
"page_content": "[ ](https://photobio.com/resources/photobio-rebates)\n\n# Cronos Group Founder Mike Gorenstein Returns as CEO\n\nThe executive shuffle comes as Kurt Schmidt, former president and CEO,\nretires.\n\n* * *\n\n[ ](/authors/contact/15684934/posted-by-tony-lange)\n\n[ Tony Lange ](/authors/contact/15684934/posted-by-tony-lange)\n\nMarch 21, 2022\n\n**TORONTO, March 21, 2022 \u2013 PRESS RELEASE \u2013** Cronos Group Inc., an innovative\nglobal cannabinoid company, announced that its board of directors has\nappointed Mike Gorenstein as chairman, president, and CEO, effective March 21,\n2022, in connection with Kurt Schmidt\u2019s retirement.\n\n\u201cMike is a visionary leader who knows Cronos better than anyone,\u201d said Jim\nRudyk, lead independent director of Cronos. \u201cHe is uniquely positioned to\noversee the implementation of our strategic and operational realignment\ninitiatives as we create a highly differentiated branded cannabinoid platform\nto drive long-term success. A key element of our plan is being ready for entry\ninto the U.S. cannabis market once federally permitted\u2014with Mike leading that\ncharge every step of the way.\u201d\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\nRudyk added, \u201cOn behalf of the board of directors, I would like to thank Kurt\nfor his stewardship through the challenges of the pandemic and broader\nindustry headwinds. We are grateful for his contributions to Cronos and wish\nhim all the best in his retirement.\u201d\n\n[ ](https://hubs.ly/Q03dknmq0)\n\nGorenstein previously served as chairman, president and CEO of Cronos until\nSeptember 2020, when he transitioned to the executive chairman role. In\naddition, he is a co-founder and passive member of Gotham Green Partners.\n\n\u201cI am excited to return as CEO and accelerate progress by leveraging the\ninnovative and daring approach that Cronos was built on,\u201d Gorenstein said. \u201cWe\npositioned Cronos to have the best tools to succeed in this market with our\nevolving asset-light supply chain, an organically growing brand in Canada,\ndifferentiated IP with a focus on rare cannabinoids, and one of the strongest\nbalance sheets in the industry. Now it is time to use those tools to deliver\nmeaningful shareholder value.\u201d\n\nGorenstein\u2019s immediate areas of focus include:\n\n * Delivering margin accretive growth focusing on adult-use product formats; \n * Continuing to drive rare cannabinoid development and commercialization strategy; \n * Cutting costs and focusing investments to the highest ROI opportunities, specifically \u201cborderless\u201d investments that can create incremental revenue as new markets come online; \n * Leading a successful transition from Peace Naturals Campus to a more agile supply chain; and \n * Positioning Cronos to win in the U.S. cannabis market. \n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\nRecommended\n\n[ ](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-\nsplit)\n\n##### [ Tilray Brands Announces Proposed Reverse Stock Split\n](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-split)\n\n[ ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n##### [ Tilray Brands Reports Quarterly Financial Results, Confirms No Tariff\nImpacts ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-\nresults-confirms-no-tariff-impacts)\n\n[ ](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n##### [ SNDL Reports Q4 and Full Year 2024 Financial and Operational Results\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ ](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n##### [ Ascend Wellness Reports $562 Million in 2024 Revenue\n](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\nRelated Stories\n\n[ ](/business-issues-benchmarks/finance/news/15692029/terrascend-exec-we-want-\nto-add-one-to-two-additional-states-over-the-next-six-to-12-months)\n\n##### [ TerrAscend Exec: \u2018We Want to Add One to Two Additional States Over\nthe Next Six to 12 Months\u2019 ](/business-issues-\nbenchmarks/finance/news/15692029/terrascend-exec-we-want-to-add-one-to-two-\nadditional-states-over-the-next-six-to-12-months)\n\n[ ](/business-issues-benchmarks/finance/news/15692011/alberta-officially-\nlaunches-online-cannabis-sales-delivery-in-private-sector)\n\n##### [ Alberta Officially Launches Online Cannabis Sales, Delivery in\nPrivate Sector ](/business-issues-benchmarks/finance/news/15692011/alberta-\nofficially-launches-online-cannabis-sales-delivery-in-private-sector)\n\n[ ](/business-issues-benchmarks/finance/news/15692435/biden-anti-cannabis-\nstock-policy-revealed-in-new-uncovering)\n\n##### [ Biden Anti-Cannabis Stock Policy Revealed in New Uncovering\n](/business-issues-benchmarks/finance/news/15692435/biden-anti-cannabis-stock-\npolicy-revealed-in-new-uncovering)\n\n[ ](/business-issues-benchmarks/finance/news/15692458/cannabis-conference-\nannounces-2022-education-program)\n\n##### [ Cannabis Conference Announces 2022 Education Program ](/business-\nissues-benchmarks/finance/news/15692458/cannabis-conference-\nannounces-2022-education-program)\n\nMore in Finance\n\n##### [ Tilray Brands Announces Proposed Reverse Stock Split\n](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-split)\n\n[ The global cannabis company also announced a corresponding special\nstockholders meeting. ](/finance/news/15743199/tilray-brands-announces-\nproposed-reverse-stock-split)\n\n[ ](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-\nsplit)\n\n##### [ Tilray Brands Reports Quarterly Financial Results, Confirms No Tariff\nImpacts ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-\nresults-confirms-no-tariff-impacts)\n\n[ The global cannabis company generated a net revenue of $186 million in the\nthird fiscal quarter, verifying it has no current impacts from U.S. tariffs.\n](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n[ ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n##### [ SNDL Reports Q4 and Full Year 2024 Financial and Operational Results\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ The company reported record full-year net revenue, gross profit and gross\nmargin, as well as positive cash flow and free cash flow.\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ ](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n##### [ Ascend Wellness Reports $562 Million in 2024 Revenue\n](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n[ The cannabis company also reported its second full year of positive cash\nfrom operations and positive free cash flow. ](/finance/news/15739806/ascend-\nwellness-reports-562m-revenue-in-cannabis-market)\n\n[ ](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n##### [ The Cannabist Co. Reports $459 Million in 2024 Revenue\n](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n[ The cannabis company continues to complete divestitures, reduce operating\nand overhead costs, and refine its inventory assortment.\n](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n[ ](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n##### [ Green Thumb Industries Announces $50 Million Share Repurchase Program\n](/business-issues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ The program authorizes the cannabis company to repurchase up to nearly 10.6\nmillion subordinate voting shares during the next 12 months. ](/business-\nissues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ ](/business-issues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\n##### [ Green Thumb Industries Refinances Senior Debt, Closing on $150\nMillion Syndicated Credit Facility ](/business-issues-\nbenchmarks/finance/news/15686440/green-thumb-industries-refinances-senior-\ndebt-closing-on-150-million-syndicated-credit-facility)\n\n[ The cannabis company intends to use the proceeds along with existing cash to\nretire its $225 million senior secured debt. ](/business-issues-\nbenchmarks/finance/news/15686440/green-thumb-industries-refinances-senior-\ndebt-closing-on-150-million-syndicated-credit-facility)\n\n[ ](/business-issues-benchmarks/finance/news/15686440/green-thumb-industries-\nrefinances-senior-debt-closing-on-150-million-syndicated-credit-facility)\n\n##### [ Ascend Wellness Holdings Removes CEO, Terminates CFO ](/business-\nissues-benchmarks/finance/news/15686476/ascend-wellness-holdings-removes-ceo-\nterminates-cfo)\n\n[ The cannabis company appointed board Director Samuel Brill to replace John\nHartman as CEO. The company also appointed a new president and CFO.\n](/business-issues-benchmarks/finance/news/15686476/ascend-wellness-holdings-\nremoves-ceo-terminates-cfo)\n\n[ ](/business-issues-benchmarks/finance/news/15686476/ascend-wellness-\nholdings-removes-ceo-terminates-cfo)\n\n##### [ TerrAscend Offers $10 Million Share Repurchase Program ](/business-\nissues-benchmarks/finance/news/15686491/terrascend-offers-10-million-share-\nrepurchase-program)\n\n[ The company is authorized to repurchase up to 10 million shares but is not\nobligated to purchase any shares during the 12-month stock buyback program.\n](/business-issues-benchmarks/finance/news/15686491/terrascend-\noffers-10-million-share-repurchase-program)\n\n[ ](/business-issues-benchmarks/finance/news/15686491/terrascend-\noffers-10-million-share-repurchase-program)\n\n##### [ Curaleaf Reports $342 Million in Q2 Revenue ](/business-issues-\nbenchmarks/finance/news/15686512/curaleaf-reports-342-million-in-q2-revenue)\n\n[ The global cannabis company now operates in 15 countries. ](/business-\nissues-benchmarks/finance/news/15686512/curaleaf-reports-342-million-\nin-q2-revenue)\n\n[ ](/business-issues-benchmarks/finance/news/15686512/curaleaf-\nreports-342-million-in-q2-revenue)\n\n##### [ The Cannabist Co. Reports Second Quarter 2024 Financial Results\n](/business-issues-benchmarks/finance/news/15686514/the-cannabist-co-reports-\nsecond-quarter-2024-financial-results)\n\n[ The company reported $125 million in revenue for the period. ](/business-\nissues-benchmarks/finance/news/15686514/the-cannabist-co-reports-second-\nquarter-2024-financial-results)\n\n[ ](/business-issues-benchmarks/finance/news/15686514/the-cannabist-co-\nreports-second-quarter-2024-financial-results)\n\n##### [ Cresco Labs Determines IRS Section 280E Not Applicable to its\nBusiness ](/business-issues-benchmarks/finance/news/15686515/cresco-labs-\ndetermines-irs-section-280e-not-applicable-to-its-business)\n\n[ The company reported an improvement of more than 800 basis points year-over-\nyear in its adjusted EBITDA margin for the second quarter of 2024.\n](/business-issues-benchmarks/finance/news/15686515/cresco-labs-determines-\nirs-section-280e-not-applicable-to-its-business)\n\n[ ](/business-issues-benchmarks/finance/news/15686515/cresco-labs-determines-\nirs-section-280e-not-applicable-to-its-business)\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\nPage 1 of 183\n\n[ Next Page ](/business-issues-benchmarks/finance?page=2)\n\n[ ](/)\n\nFollow Cannabis Business Times\n\n[ ](https://www.facebook.com/canbusinesstimes \"Visit us on Facebook\") [\n](https://www.linkedin.com/company/cannabis-business-times \"Visit us on\nLinkedin\") [ ](https://twitter.com/CBTmag \"Visit us on Twitter\")\n\n[ \u00a9 2025 Transpire Media. All rights reserved.\n](https://www.transpiremedia.net)\n\n[ ](https://marketing.greentanktech.com/l/864572/2025-03-26/c6dqlf)\n\n",
"url": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
"reason": "This is a reputable news source in the cannabis industry reporting on the return of Cronos Group's founder as CEO, indicating a high level of reliability.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on the return of Cronos Group's founder as CEO.",
"url": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
{
"content": {
"metadata": {
"ext_id": "5d45db0a-c6d1-4555-b26c-3987412438e1",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.collingwoodtoday.ca/local-news/parent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491"
},
"page_content": "Skip to content\n\n 1. [ Home ](/)\n 2. [ Local News ](/local-news)\n\n# Parent company closing Peace Naturals cannabis campus in Stayner\n\nCronos Group planning a \u2018phased reduction and transition of activities,\u2019 which\nshould see the plant close completely by the end of 2022\n\n[ ](/writers/jessica%20owen)\n\n[ Jessica Owen ](/writers/jessica%20owen) \nMar 2, 2022 2:54 PM\n\n * [ __ Share by Email ](/cdn-cgi/l/email-protection#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)\n * [ __ Share on Spaces ](https://collingwood.spaces.ca/sharer?u=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491&t=Parent+company+closing+Peace+Naturals+cannabis+campus+in+Stayner)\n * [ __ Share on Facebook ](https://www.facebook.com/sharer/sharer.php?u=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491)\n * [ __ Share on X ](https://x.com/share?text=Parent+company+closing+Peace+Naturals+cannabis+campus+in+Stayner&url=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491&via=collingwoodtday)\n * [ __ Share on LinkedIn ](https://www.linkedin.com/shareArticle?mini=true&url=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491)\n * * [ _Share via Text Message_ ](sms:?body=Parent%20company%20closing%20Peace%20Naturals%20cannabis%20campus%20in%20Stayner%20https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491)\n\nStock photo\n\n[ Listen to this article 00:01:52\n](https://www.vmcdn.ca/files/texttospeech/5118491-75a8fd8e-c666-41c0-8d62-4b69a513490c.mp3)\n\nA major cannabis grower in Clearview Township will be closing its doors later\nthis year.\n\nAccording to an investor update posted on their website on March 1, Cronos\nGroup announced they will be closing their Peace Naturals campus in Stayner in\n2022.\n\n\u201cExtensive analysis went into this decision,\u201d said Cronos Group\u2019s Chief\nExecutive Officer Kurt Schmidt in a conference call with investors on Tuesday.\n\u201cWe know this is the right decision to ensure Cronos\u2019 long-term growth.\u201d\n\n\u201cWe have always maintained that cultivation would shift to large-scale\nagricultural specialists as the industry matures,\u201d he said. \u201cWe are confident\nour supply chain in Canada is at a maturity level where we can implement this\napproach.\u201d\n\n\u201cWe are grateful to our Stayner associates for their hard work and\ncontributions to Cronos Group,\u201d he said.\n\nThe release states that Cronos is planning a \u201cphased reduction and transition\nof activities,\u201d which should see the plant close completely by the end of\n2022.\n\nResearch and development that occurred at the Stayner plant will be moved to\nother Cronos facilities.\n\nAccording to their update, Cronos is anticipating $119 million in impairment\ncharges and $4.5 million in other charges due to the closure of the campus.\n\n\u201cThese charges include employee-related costs, such as severance, relocation\nand other termination benefits, as well as contract termination and other\nrelated costs, which are expected to be incurred primarily in the second half\nof 2022,\u201d they note in their report.\n\nAccording to media reports, the 315,000-sq.-ft. campus employs about 200\nworkers. The Peace Naturals Project was started in 2013 as the first licensed\nproducer of medicinal marijuana in Canada.\n\nPeace Naturals and the Cronos Group did not respond to interview requests from\n_CollingwoodToday.ca_ .\n\n* * *\n\n## This has been shared 0 times\n\n * 0 \n\nShares\n\n * [ __ Share by Email ](/cdn-cgi/l/email-protection#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)\n * [ __ Share on Spaces ](https://collingwood.spaces.ca/sharer?u=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491&t=Parent+company+closing+Peace+Naturals+cannabis+campus+in+Stayner)\n * [ __ Share on Facebook ](https://www.facebook.com/sharer/sharer.php?u=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491)\n * [ __ Share on X ](https://x.com/share?text=Parent+company+closing+Peace+Naturals+cannabis+campus+in+Stayner&url=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491&via=collingwoodtday)\n * [ __ Share on LinkedIn ](https://www.linkedin.com/shareArticle?mini=true&url=https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491)\n * * [ _Share via Text Message_ ](sms:?body=Parent%20company%20closing%20Peace%20Naturals%20cannabis%20campus%20in%20Stayner%20https%3a%2f%2fwww.collingwoodtoday.ca%2flocal-news%2fparent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491)\n\n* * *\n\nComments\n\n * * Oldest Newest \n * * \n\n* * *\n\nIf you would like to apply to become a __ **Verified Commenter** , please [\nfill out this form ](/submissions/apply-for-verified-commenter-status) .\n\n* * *\n\n## Trending\n\n * [ __ ](https://collingwood.spaces.ca \"Spaces\")\n * [ __ ](https://www.facebook.com/CollingwoodToday \"Facebook\")\n * [ __ ](https://x.com/collingwoodtday \"X\")\n * [ __ ](https://www.instagram.com/collingwoodtoday/ \"Instagram\")\n\n * [ News ](/local-news)\n\n * [ Local News ](/local-news)\n * [ News Map ](/news-map)\n * [ Local Sports ](/local-sports)\n * [ Police Beat ](/police-beat)\n * [ Court ](/court)\n * [ The Blue Mountains and Grey Highlands ](/the-blue-mountains-and-grey-highlands)\n * [ Beyond Local ](/around-ontario)\n * [ Inside the Village ](/insidethevillage)\n * [ Closer Look ](/closer-look)\n * [ Behind the Scenes ](/behind-the-scenes)\n * [ Ontario News ](/ontario-news)\n * [ Canada ](/national-news)\n * [ World News ](/world-news)\n * [ National Business ](/national-business)\n * [ National Sports ](/national-sports)\n * View more ... \n\n * [ More ](/remember-this)\n\n * [ Town of the Blue Mountains Information ](/town-of-blue-mountains)\n * [ Spotlight ](/spotlight)\n * [ Weather ](/weather)\n * [ Adopt Me ](/adopt-me)\n * [ Gas Prices ](/gas-prices)\n * [ Horoscopes ](/horoscopes)\n * [ Games (like Crosswords) ](/games)\n * [ Comics ](/comics)\n * [ Dear Abby ](/dearabby)\n * [ Letters to the Editor ](/letters-to-the-editor)\n * [ Village Life ](/village-life)\n * View more ... \n\n * [ Obituaries ](/obituaries)\n\n * [ Obituaries ](/obituaries)\n * [ In Memoriam ](/in-memoriam)\n\n * [ SPACES ](https://collingwood.spaces.ca)\n * Shop \n\n * [ 2024 Reader Favourites ](/directory/contest/reader-favourites-2024)\n * [ Local Business Directory ](/directory)\n * [ Flyers ](/flyers/grocery)\n * [ Autos ](/directory/autos)\n * [ Beauty and Fashion ](/directory/beauty-and-fashion)\n * [ Community Leaders Program ](/directory/community-leaders-program)\n * [ Community Organizations ](/directory/community-organizations)\n * [ Financial Services ](/directory/financial-services/)\n * [ Food ](/directory/food)\n * [ Funeral and Estate Planning ](/directory/funeral-and-estate-planning)\n * [ Government and Education ](/directory/government-and-education)\n * [ Health and Wellness ](/directory/health-wellness)\n * [ Home Decor ](https://www.collingwoodtoday.ca/directory/home-decor)\n * [ Home Improvement ](https://www.collingwoodtoday.ca/directory/home-improvement)\n * [ Pets ](/directory/pets)\n * [ Professional Services ](https://www.collingwoodtoday.ca/directory/professional-services)\n * [ Public Notices and Tenders ](/directory/public-notices-and-tenders)\n * [ Real Estate ](/directory/real-estate)\n * [ Recreation ](/directory/recreation)\n * [ Shopping and Specialty Stores ](/directory/shopping-and-specialty-stores)\n * [ Travel & Tourism ](/directory/travel-tourism)\n\n * [ Classifieds ](/classifieds)\n\n * [ All Classifieds ](/classifieds)\n * [ Post a Free Ad ](/classifieds/create)\n * [ Items for Sale ](/classifieds/buy-sell-and-services/items-for-sale)\n * [ Garage Sales ](/classifieds/buy-sell-and-services/garage-and-yard-sales)\n * [ Jobs ](/classifieds/job-listings)\n * [ gold mine: local deals & promotions ](/classifieds/buy-sell-and-services/look-local-sales-offers-more)\n * [ My Account ](/account)\n\n * [ gold mine ](/classifieds/buy-sell-and-services/browse-local-sales-offers-more)\n * [ Jobs ](/classifieds/job-listings)\n * [ Homes ](/real-estate)\n\n * [ Open Houses ](/classifieds/homes-rentals-and-real-estate/open-houses)\n * [ For Sale - Houses ](/classifieds/homes-rentals-and-real-estate/for-sale-houses)\n * [ For Rent - Apartments ](/classifieds/homes-rentals-and-real-estate/rentals-apartments)\n * [ For Rent - Houses ](/classifieds/homes-rentals-and-real-estate/rentals-houses)\n * [ Real Estate Brokerages ](/directory/real-estate-brokerages)\n\n * [ Notices ](/directory/public-notices-and-tenders)\n * [ Events ](/events)\n * [ \ud83d\udc9b ](/cares \"CollingwoodToday Cares\")\n\n * [ CollingwoodToday Cares ](/cares)\n * [ Meet the Team ](/cares-team)\n * [ Random Acts of Kindness ](/randomactsofkindness)\n * [ Match Initiatives ](/cares/match-initiatives)\n\nAbout\n\n * [ About Us ](/other/about)\n * [ Advertising ](/other/advertising)\n * [ __ Media Kit ](/other/advertising)\n * [ Community Guidelines ](/other/community-guidelines)\n * [ Contact Us ](/other/contact-us)\n * [ Privacy Policy ](/other/privacy-policy)\n * [ Terms of Service ](/other/terms-of-service)\n * [ Journalistic Principles and Practices ](/other/journalistic-principles-and-practices)\n * [ FREE email newsletter ](/daily)\n * [ Political Ads Registry ](https://docs.google.com/document/d/1dOgoLS-jn6McFIAW-bnvR4tLixYBez9qGv0vwoAcjsw/edit?usp=sharing)\n * [ Community Leaders Program ](https://www.collingwoodtoday.ca/directory/community-leaders-program)\n * [ Contest Rules ](/other/rules)\n * [ Partner Content ](/partner-content)\n\n[ ](https://www.villagemedia.ca/)\n\nVisit our network of sites:\n\n * [ AuroraToday.ca ](https://www.auroratoday.ca/)\n * [ BarrieToday.com ](https://www.barrietoday.com/)\n * [ BayToday.ca ](https://www.baytoday.ca/)\n * [ BradfordToday.ca ](https://www.bradfordtoday.ca/)\n * [ BurlingtonToday.com ](https://www.burlingtontoday.com/)\n * [ CambridgeToday.ca ](https://www.cambridgetoday.ca/)\n * [ CanadaFlyers.ca ](https://www.canadaflyers.ca/)\n * [ CollingwoodToday.ca ](https://www.collingwoodtoday.ca/)\n * [ ElliotLakeToday.com ](https://www.elliotlaketoday.com/)\n * [ EloraFergusToday.com ](https://www.elorafergustoday.com/)\n * [ FlamboroughToday.com ](https://www.flamboroughtoday.com/)\n * [ GuelphToday.com ](https://www.guelphtoday.com/)\n * [ HaltonHillsToday.ca ](https://www.haltonhillstoday.ca/)\n * [ InnisfilToday.ca ](https://www.innisfiltoday.ca/)\n * [ MidlandToday.ca ](https://www.midlandtoday.ca/)\n * [ MiltonToday.ca ](https://www.miltontoday.ca/)\n * [ NewmarketToday.ca ](https://www.newmarkettoday.ca/)\n * [ Niagara-on-the-Lake Local ](https://www.notllocal.com/)\n * [ Northern Ontario Business ](https://www.northernontariobusiness.com/)\n * [ Oakville News ](https://www.oakvillenews.org/)\n * [ OntarioFlyers.ca ](https://www.ontarioflyers.ca/)\n * [ OrilliaMatters.com ](https://www.orilliamatters.com/)\n * [ Parliament Today ](https://www.parliamenttoday.ca/)\n * [ PelhamToday.ca ](https://www.pelhamtoday.ca/)\n * [ SooToday.com ](https://www.sootoday.com/)\n * [ StratfordToday.ca ](https://www.stratfordtoday.ca/)\n * [ Sudbury.com ](https://www.sudbury.com/)\n * [ ThoroldToday.ca ](https://www.thoroldtoday.ca/)\n * [ TimminsToday.com ](https://www.timminstoday.com/)\n * [ The Trillium ](https://www.thetrillium.ca/)\n * [ TorontoToday.ca ](https://www.torontotoday.ca/)\n * [ Village Life ](https://www.village-life.ca/)\n * [ Village Report ](https://www.villagereport.ca/)\n * [ AlimoshoToday.com ](https://www.alimoshotoday.com/)\n * [ LasuToday.com ](https://www.lasutoday.com/)\n * [ SooLeader ](https://www.sooleader.com/)\n\n\u00a9 2025 CollingwoodToday.ca\n\n",
"url": "https://www.collingwoodtoday.ca/local-news/parent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491"
},
"reason": "This is a local news source reporting on the closure of a Cronos Group facility, providing relevant and factual information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on the closure of a Cronos Group facility.",
"url": "https://www.collingwoodtoday.ca/local-news/parent-company-closing-peace-naturals-cannabis-campus-in-stayner-5118491"
},
{
"content": {
"metadata": {
"ext_id": "c0f91ea9-c0f7-4dfd-9778-64695fdd1f7e",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://thecronosgroup.com/"
},
"page_content": "Skip to content\n\n## A Global \nCannabinoid Company\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae .\n\n[ Explore Brands _arrow_forward_ ](/brands/) Explore Solutions \u2192\n\n# About\n\n## Us\n\n## Mission\n\nBuild brands and create products that enhance experiences\n\n## Vision\n\nTake experiences to new highs\n\n## Values\n\nAt the heart of Cronos are our values. They are the principles that steer our\nactions and define our character. They represent who we are, how we operate,\nand the reputation we aspire to build and maintain within the industry and all\nour stakeholders who help shape it.\n\n## Community\n\nWe believe in building and supporting a fair and equitable industry.\n\n## Fun\n\nWe believe in creating your favorite products through innovation and\nimagination.\n\n## Responsibility\n\nWe believe our products are for adults* (*Adults are those of the legal age of\nconsumption in the relevant jurisdiction).\n\n## Quality\n\nWe believe in elevating industry practices to provide quality products focused\non reliability and transparency.\n\n# The\n\n## Team\n\nOur management team comprises experts in their fields, with a goal to\nestablish the most valuable international cannabis company. They are\npassionate, daring people, driven by quality and integrity, who are determined\nto write history, not read about it.\n\nMike Gorenstein\n\nAnna Shlimak\n\nJeff Jacobson\n\nShannon Buggy\n\nTerry Doucet\n\nArye Weigensberg\n\nAdam Wagner\n\nMike Gorenstein __\n\n# Mike Gorenstein\n\n#### Chairman, President and Chief Executive Officer\n\nMike Gorenstein serves as Cronos Group\u2019s Chairman, President and Chief\nExecutive Officer, he also serves as Chairman of Cronos Group\u2019s Board of\nDirectors. In addition, Mr. Gorenstein is a Co-Founder and passive Member of\nGotham Green Partners. Before joining Cronos, Mike was the Vice President and\nGeneral Counsel at Alphabet Partners, LP, a New York City based multi-strategy\ninvestment management firm, focused on identifying mispriced assets across\nvarious industries, asset classes and geographies. Prior to Alphabet Partners,\nLP, he was a corporate attorney at Sullivan & Cromwell LLP, where he focused\non mergers and acquisitions and capital markets transactions. Mike graduated\nfrom the University of Pennsylvania Law School with a Juris Doctor, the\nWharton School at University of Pennsylvania with a certificate in Business\nEconomics and Public Policy and the Kelley School of Business at Indiana\nUniversity with a Bachelor of Science of Business in Finance.\n\nAnna Shlimak __\n\n# Anna Shlimak\n\n#### Chief Financial Officer\n\nAnna serves as Cronos\u2019 Chief Financial Officer. Anna recently served as the\nCompany\u2019s Chief Strategy Officer and was responsible for managing and\ndirecting the organization\u2019s corporate strategy, investor relations,\ncommunications, government affairs, and information systems departments. Prior\nto joining Cronos, Anna was the Head of Investor Relations at Quest Partners\nLLC, a research-driven alternative investment firm. Anna was responsible for\nbusiness development, investor reporting, marketing, and communication\ninitiatives for the fund. Before that, Anna held a range of roles at the New\nYork Stock Exchange in both the New York and London offices. She received a\nMaster of Business Administration from Columbia Business School and holds a\nBachelor of Science in Economics from The Wharton School at the University of\nPennsylvania.\n\nJeff Jacobson __\n\n# Jeff Jacobson\n\n#### Chief Growth Officer\n\nAs Chief Growth Officer, Jeff leads the Marketing, Innovation, Operations and\nSales team in North America as well as the Consumer Insights and Data\nAnalytics teams for Cronos Group\u2019s global business. Jeff sets the strategy for\nour brands and is responsible for leading our global teams to help execute\nCronos Group\u2019s vision. Jeff previously served as Cronos Group\u2019s General\nManager of Canada and Europe. Before joining Cronos Group, Jeff founded a\nToronto based marketing agency and successfully launched and licensed several\ninnovative software products in the mobile industry. As a co-founder of Peace\nNaturals, Jeff\u2019s expertise and experience in licensing and compliance, new\nbusiness development, project management and resource management help Cronos\nGroup lead in a variety of markets.\n\nShannon Buggy __\n\n# Shannon Buggy\n\n#### Senior Vice President, Global Head of People\n\nShannon serves as the SVP, Global Head of People for Cronos Group where she\nleads HR strategy across the Company\u2019s global operations. Prior to Cronos\nGroup, Shannon was the Senior Vice President of Global Human Resources for\nNielsen where she led HR strategy for Nielsen Media. With over 25 years of\nexperience, Shannon has a proven track record of leading and managing global\nhuman resources teams and driving excellence in talent acquisition,\ndevelopment, retention, employee relations, compensation, benefits, talent\nmanagement and labor relations. Shannon holds a certification as a Senior\nProfessional in Human Resources from the HR Certification Institute. She\ngraduated magna cum laude with a Bachelor of Science degree in Human Resources\nManagement from the Pace University, Lubin School of Business.\n\nTerry Doucet __\n\n# Terry Doucet\n\n#### General Counsel and Corporate Secretary\n\nTerry Doucet serves as Cronos Group\u2019s General Counsel and Corporate Secretary.\nIn this capacity, he manages all legal and regulatory affairs at Cronos Group\nand also serves as the Company\u2019s Corporate Secretary. Prior to joining Cronos,\nTerry was a corporate lawyer at Davies Ward Phillips & Vineberg LLP in\nToronto, where he focused primarily on M&A in large, complex and cross-border\ntransactions across numerous industries, as well as securities, corporate\nfinance and lending transactions. During that time, Terry was also seconded to\nRBC Capital Markets, where he supported the bank\u2019s derivative trading desks.\nTerry is an Ontario-qualified lawyer, holding a Juris Doctor from the\nUniversity of Toronto and a joint honours (first class) Bachelor of Arts\ndegree from McGill University in Montreal.\n\nArye Weigensberg __\n\n# Arye Weigensberg\n\n#### Head of Research and Development\n\nAs Head of Research and Development, Arye is responsible for leading Cronos\u2019\ninnovation program, where he oversees research and technology functions, and\nleads scientific efforts to unlock the potential of rare cannabinoids. Before\njoining Cronos, Arye was the CEO of Altria Israel Ltd, an Altria research and\ndevelopment innovation hub. Arye joined Altria as part of its acquisition of\nGreen Smoke, where he was the Director of Marketing and Brand Management.\nPrior to Green Smoke, Arye held a variety of roles in brand management and\nmarketing, supporting food brands such as Manischewitz, Lawry\u2019s, Ragu, Knorr\nand Country Crock. Arye graduated from Concordia University\u2019s John Molson\nSchool of Business with a Bachelor of Commerce in Marketing and International\nBusiness.\n\nAdam Wagner __\n\n# Adam Wagner\n\n#### SVP, Head of Cronos Israel\n\nAdam Wagner serves as Senior Vice President, Head of Cronos Israel. Adam\noversees the business and strategy of Cronos Israel. Before he was appointed\nas Head of Cronos Israel, he was the VP of Finance at Cronos Israel where he\noversaw the regional Israel finance department, including FP&A,\ncontrollership, audit, treasury, tax, as well as IT, supply chain and\nprocurement . Before joining Cronos, Adam worked as a Director of Finance at\nMotus GI, a publicly traded medical device company, where he oversaw the\nIsrael-based finance department. Before that, Adam was a Finance Manager at\nMedtronic, a publicly traded medical equipment manufacturer, where he oversaw\nthe Israel-based finance department functions. Prior to Medtronic\u2019s\nacquisition, he was the Corporate Controller for Mazor Robotics, a dual-listed\npublic medical device company. Adam began his career as a Senior Auditor at EY\nwhere he managed a team that performed audits for various publicly traded and\nprivate companies. Adam also serves as a Finance expert on an advisory board\nfor a wellness and healthcare start-up. Adam is a CPA (Israel) and studied\nAccounting at Bar-Ilan University. Adam also holds a Bachelor\u2019s Degree in\nScience of Nutrition and his Master of Science in Genetics and Biochemistry\nfrom Tel Aviv University.\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\n[ Facebook ](https://www.facebook.com/cronosgroupoffical) [ X-twitter\n](https://twitter.com/cronosgroup) [ Linkedin\n](https://www.linkedin.com/company/cronos-group-cron/?viewAsMember=true)\n\n\u00a9 2024 The Cronos Group. All rights reserved.\n\nFacebook X-twitter Linkedin\n\n",
"url": "https://thecronosgroup.com/"
},
"reason": "This is the official website of The Cronos Group, providing direct information about the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Official website of The Cronos Group.",
"url": "https://thecronosgroup.com/"
},
{
"content": {
"metadata": {
"ext_id": "aa8eaf10-c954-4a90-bfef-a120e0460962",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2023 Second Quarter Results\n\nAugust 08, 2023 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Industry-leading balance sheet with_ _$841 million_ _in cash and short-term\ninvestments_ \n\n_Increased 2023 operating expense savings target to $20 to $25 million_\n\n_Announces additional initiatives to streamline supply chain and improve cash\nflow_\n\n_Spinach_ _\u00ae_ _was top-10 in retail sales in every category it participates in\n- flower, edible, vape and pre-roll, in Q2 2023_\n\nTORONTO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announces its 2023 second\nquarter business results.\n\n\u201cI am proud of our team\u2019s execution in the second quarter despite facing\ndynamic market conditions across the countries we operate in,\u201d said Mike\nGorenstein, Chairman, President and CEO, Cronos. \u201cOur teams in Canada\ncontinued to push forward in the edibles category, maintaining our number one\nmarket share position while bringing innovation to our pre-roll and vape\nportfolios. Turning to Israel, despite the slowdown in patient growth and\npolitical unrest, our team stayed focused on successfully maintaining one of\nthe top positions in the market, driven by our high-quality flower offerings\nand distribution in nearly all pharmacies. With the new regulations intended\nto create more accessibility for patients set to go into effect in Israel in\nDecember 2023, we continue to be excited about the runway for growth in that\nmarket.\u201d\n\n\u201cWhile we execute on product innovation and revenue growth, we are\nsimultaneously laser-focused on reducing costs across our organization,\u201d\ncontinued Mr. Gorenstein. \u201cOur cost reduction efforts and improved balance\nsheet management continue to yield an improvement in cash flow. Having the\nbest balance sheet in the industry allows us to be patient and selective with\nour growth initiatives, and you will continue to see a methodical approach to\ngrowth. We will continue to push forward on new market growth opportunities\nand expand our portfolio of borderless products to be ready for new markets as\nthey open.\u201d\n\n**_Consolidated Financial Results_ **\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in our condensed\nconsolidated statements of net loss and comprehensive income (loss). Prior\nperiod amounts have been reclassified to reflect the discontinued operations\nclassification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | **Three months ended June 30,** | | **Change** | | **Six months ended June 30,** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | | **2022** | | | | **$** | | **%** \nConsolidated net revenue | | 19,021 | | | | | 21,602 | | | | | (2,581 | ) | | (12 | ) | % | | | 38,516 | | | | | 44,307 | | | | | (5,791 | ) | | (13 | ) | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nCost of sales | | 15,922 | | | | | 17,280 | | | | | (1,358 | ) | | (8 | ) | % | | | 32,490 | | | | | 33,275 | | | | | (785 | ) | | (2 | ) | % \nGross profit | $ | 3,099 | | | | $ | 4,322 | | | | $ | (1,223 | ) | | (28 | ) | % | | $ | 6,026 | | | | $ | 11,032 | | | | $ | (5,006 | ) | | (45 | ) | % \nGross margin ( i ) | | 16 | | % | | | 20 | | % | | | N/A | | | (4 | ) | pp | | | 16 | | % | | | 25 | | % | | | N/A | | | (9 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nNet income (loss) (ii) | $ | (5,663 | ) | | | $ | (17,527 | ) | | | $ | 11,864 | | | 68 | | % | | $ | (23,698 | ) | | | $ | (45,892 | ) | | | $ | 22,194 | | | 48 | | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nAdjusted EBITDA (iii) | $ | (15,905 | ) | | | $ | (16,643 | ) | | | $ | 738 | | | 4 | | % | | $ | (31,587 | ) | | | $ | (32,094 | ) | | | $ | 507 | | | 2 | | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nCash and cash equivalents (iv) | $ | 409,428 | | | | $ | 789,543 | | | | $ | (380,115 | ) | | (48 | ) | % | | | | | | | | | | | | | | | | | | \nShort-term investments (iv) | | 431,510 | | | | | 155,352 | | | | | 276,158 | | | 178 | | % | | | | | | | | | | | | | | | | | | \nCapital expenditures (v) | | 502 | | | | | 1,905 | | | | | (1,403 | ) | | (74 | ) | % | | | 1,306 | | | | | 2,639 | | | | | (1,333 | ) | | (51 | ) | % \n \n_(i) Gross margin is defined as gross profit divided by net revenue._ \n_(ii) Net income (loss) of_ _$(5.7) million_ _in_ _Q2_ _2023_ _improved by_\n_$11.9 million_ _from_ _Q2_ _2022_ _. The improvement year-over-year was\nprimarily driven by increased interest income and the reduction in operating\nexpenses._ \n_(iii) See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\u201cAdjusted EBITDA\u201d) to net income (loss)._ \n_(iv) Dollar amounts are as of the last day of the period indicated._ \n_(v) Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets. \n \n_\n\n**Second Quarter** **2023**\n\n * Net revenue of $19.0 million in Q2 2023 decreased by $2.6 million from Q2 2022. The decrease was primarily due to lower cannabis flower sales in Israel due to competitive activity, the slowdown in patient permit authorizations and political unrest, and an adverse price/mix in the Canadian cannabis flower category driving increased excise tax payments as a percent of revenue. Furthermore, the weakened Canadian dollar and Israeli shekel against the U.S. dollar during the current period adversely impacted results. \n * Gross profit of $3.1 million in Q2 2023 decreased by $1.2 million from Q2 2022. The decrease was primarily driven by lower cannabis flower sales in Israel, and an adverse price/mix shift in cannabis flower sales in Canada. \n * Adjusted EBITDA of $(15.9) million in Q2 2023 improved by $0.7 million from Q2 2022. The improvement year-over-year was primarily driven by decreases in general and administrative expenses and research and development expenses due to the Company's cost savings initiatives. \n\n**_Business Updates_ **\n\n**Guidance and Outlook**\n\nThe Company has decided to discontinue providing net revenue guidance and to\nwithdraw our previously announced net revenue target of $100 to $110 million\nfor full-year 2023. The discontinuance of providing net revenue guidance\nreflects turbulent market conditions beyond previous expectations in the\nmarkets in which we operate, specifically, increasing political unrest and\nstagnant patient growth in Israel, the decision to exit the U.S. business, and\ncompetitive activity in Canada. In addition, foreign exchange rates have had\nunfavorable impact on our net revenue.\n\nFollowing a careful evaluation of the Company's global supply chain, the\nCompany announced today the planned wind-down of the Cronos Fermentation\nfacility in Winnipeg, Manitoba, Canada, with intentions to list the facility\nfor sale. Cronos expects to continue to operate the Cronos Fermentation\nfacility with a phased reduction and planned exit by the end of 2023.\n\nThe Company previously increased its operating expense savings target for 2023\nfrom $10 to $20 million to a new range of $20 to $25 million, primarily driven\nby savings in sales and marketing, general and administrative, and research\nand development.\n\nToday, the Company announced incremental operating expense reductions across\nthe organization. The Company anticipates that the exit of the Cronos\nFermentation facility and the additional operating expense reductions\nannounced today will capture an incremental $10 to $15 million in full-year\nsavings in 2024. The organizational and cost savings initiatives are intended\nto position the Company to drive profitable and sustainable growth over time.\n\nCronos anticipates that the net change in cash, defined as the sum of cash and\ncash equivalents and short-term investments, for the last six months of fiscal\nyear 2023 will decline by less than $5 to $10 million. This is an improvement\nto the previous guidance of declining less than $25 million in the remaining\nnine months of fiscal year 2023. The Company maintains its expectation that\nthe net change in cash will be positive in 2024.\n\nThe fiscal year 2023 guidance assumes: (i) the Company will experience\nrelatively consistent foreign exchange and interest rates; (ii) the general\neconomic conditions and regulatory environment in the markets in which Cronos\nparticipates will not materially change; (iii) timely receipt of interest and\nprincipal payments on the GrowCo senior secured credit facility; (iv)\nanticipated interest income of approximately $20 to $25 million for the last\nsix months of fiscal year 2023; (v) steady gross margin profile; and (vi)\nmeeting our target for reducing our operating expenses by $20 to $25 million.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause our actual results to differ materially from these forward-\nlooking statements.\n\n**Brand and Product Portfolio**\n\nThe Spinach \u00ae brand continued to hold its number one market share position\nin the edibles category in Canada in Q2 2023. According to Hifyre data,\nSpinach \u00ae products had an approximate 14.5% market share in the edibles\ncategory expanding to approximately 21.8% within the gummy category alone\nacross the SOURZ by Spinach \u00ae and Spinach FEELZ\u2122 sub-brands. In the second\nquarter, we launched a new SOURZ by Spinach \u00ae flavor, Pink Lemonade, which\nis quickly climbing the market share ranks and is already our fourth-highest-\nranked edible SKU.\n\nSpinach \u00ae pre-rolls are ranked number eight in the category, up from\nnumber-14 in Q4 2022, according to Hifyre. Cronos launched several new\nofferings to bolster the Spinach \u00ae pre-roll portfolio, including Sonic Lemon\nFuel pre-rolls, and three new infused pre-rolls offerings: Fully Charged Pink\nLemonade, Fully Charged Peach Punch, and Fully Charged Strawberry Slurricane.\nWinning in the pre-roll category is a top priority, and we will continue to\nflex our robust product development capabilities to formulate differentiated\nproducts with flavors and rare cannabinoids to win with consumers.\n\nCronos' strong breeding program and portfolio of genetics continued to drive\ngrowth, propelling the Spinach \u00ae brand to become the number two flower brand\nin Canada with a 6.0% market share in June 2023, according to Hifyre. We have\nthree SKUs in the top-10 for market share, led by our GMO Cookies and Wedding\nCake genetics.\n\nSpinach \u00ae was ranked the number seven vape brand in Q2 2023, holding a 4.2%\nmarket share, according to Hifyre. Spinach \u00ae is the number one rare\ncannabinoid vape brand, with our SKUs that feature cannabinol (CBN),\ncannabigerol (CBG), and cannabichromene (CBC), holding the top three spots\namong rare cannabinoid vapes. In July, we launched three new vapes under the\nSpinach \u00ae portfolio. These new vapes come in a 1.2-gram format in the flavor\nofferings: Pink Lemonade, Peach Punch, and Strawberry Slurricane.\n\nCronos intends to launch its Lord Jones \u00ae brand in the Canadian adult-use\nmarket in Q4 2023, bringing Lord Jones \u00ae back to its roots as an adult-use\nbrand. We expect this launch will be highly complementary to our offerings\nunder the Spinach \u00ae brand and will elevate our growing portfolio of\nborderless products.\n\nIn Israel, Cronos launched two new pre-roll offerings under the Peace Naturals\n\u00ae brand, Wedding Rolls and Cocoa Bomba, and a new flower offering with our\nsuccessful Space Cake genetic. In June 2023, the Knesset Health Committee in\nIsrael changed the cannabis regulations streamlining and simplifying the\nprocess for some patients to obtain prescriptions; the new regulations are\nscheduled to take effect in December 2023. For certain medical conditions,\npatients will no longer be required to obtain a license with approval from the\nhealth ministry and doctors can directly prescribe cannabis to those patients.\nThis change simplifies the process for patients and doctors alike and is\nexpected to increase patient count.\n\n**Global Supply Chain**\n\nCronos Growing Company Inc. (\u201cCronos GrowCo\u201d) reported to the Company\npreliminary unaudited net revenue to licensed producers, excluding sales to\nthe Company, of approximately $3.6 million in the second quarter of 2023.\nCronos previously provided GrowCo with a senior secured credit facility, which\ncurrently has approximately $72.4 million outstanding following a principal\nrepayment of $2.5 million by GrowCo in Q2 2023. In addition to principal\nrepayment, Cronos also received $1.7 million in interest payments from GrowCo,\nand a $1.3 million payment from its joint venture partner on its promissory\nnote in Q2 2023, totaling approximately $5.5 million in cash payments to\nCronos in Q2 2023.\n\nIn July 2023, we signed an agreement with one of the leading distributors of\nmedical cannabis in Germany. We anticipate commencing shipments of cannabis in\nthe third quarter of 2023. The recently proposed regulatory change to\nreschedule cannabis, no longer labeling medical cannabis as a narcotic, is\nexpected to unlock significant growth in the market. We intend to launch our\nPeace Naturals \u00ae medical-focused brand in Germany with a goal to make it a\ntop brand similar to our success in Israel.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nAugust 8, 2023, at 8:30 a.m. ET to discuss 2023 Second Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany's website at _https://ir.thecronosgroup.com/events-presentations._\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology, such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * our expected full year net revenues for 2023; \n * our expected cash and cash equivalents and short-term investment balances; \n * expectations related to our announcement of additional cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations, including the costs, expenses and write-offs associated therewith, the impact on our operations and our financial statements and any future plans to re-enter the U.S. market; \n * expectations related to our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * the timing of the change in the nature of operations at our facility in Stayner, Ontario (the \u201cPeace Naturals Campus\u201d) and the expected costs and benefits from the wind-down of cultivation and certain production activities at the Peace Naturals Campus; \n * our ability to effectively wind-down cultivation and certain production activities at the Peace Naturals Campus in an organized fashion and acquire raw materials from other suppliers, including Cronos Growing Company Inc. (\u201cCronos GrowCo\u201d), and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments, including the strategic partnership (the \u201cGinkgo Strategic Partnership\u201d) with Ginkgo Bioworks Holdings, Inc. (\u201cGinkgo\u201d); \n * our ability or plans to identify, develop, commercialize or expand our technology and research and development (\u201cR&D\u201d) initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of United States (\u201cU.S.\u201d) state and federal law and the scope of any regulations by the U.S. Food and Drug Administration (the \u201cFDA\u201d), the U.S. Drug Enforcement Administration (the \u201cDEA\u201d), the U.S. Federal Trade Commission (the \u201cFTC\u201d), the U.S. Patent and Trademark Office (the \u201cPTO\u201d) and any state equivalent regulatory agencies; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding acquisitions and dispositions and the anticipated benefits therefrom; \n * our ability to timely and effectively remediate any material weaknesses in our internal control over financial reporting; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the uncertainties associated with the COVID-19 pandemic, including our ability, and the abilities of our joint ventures and our suppliers and distributors, to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic, the ability to continue our production, distribution and sale of our products, and demand for and the use of our products by consumers; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement with the SEC (the \u201cSettlement Order\u201d) and the settlement agreement with the Ontario Securities Commission (\u201cSettlement Agreement\u201d), including complying with any recommendations made by the independent consultant appointed pursuant to the Settlement Order and Settlement Agreement; and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to achieve our net revenue\ngrowth and cash and cash equivalents and short-term investment balances for\n2023; (ii) our ability to efficiently and effectively wind-down our operations\nat our Winnipeg, Manitoba facility and realize the expected cost-savings and\nother benefits related thereto, (iii) our ability to efficiently and\neffectively wind-down our operations in the U.S. and realize the expected\ncost-savings and other benefits related thereto, (iv) our ability to realize\nthe expected cost-savings, efficiencies and other benefits of our Realignment\nand other announced cost-cutting measures and employee turnover related\nthereto; (v) our ability to efficiently and effectively wind-down our\ncultivation and certain production activities at the Peace Naturals Campus,\nreceive the benefits of the change in the nature of our operations at our\nPeace Naturals Campus and acquire raw materials on a timely and cost-effective\nbasis from third parties, including Cronos GrowCo; (vi) our ability to realize\nanticipated benefits, synergies or generate revenue, profits or value from our\nacquisitions and strategic investments; (vii) the production and manufacturing\ncapabilities and output from our facilities and our joint ventures, strategic\nalliances and equity investments; (viii) government regulation of our\nactivities and products including, but not limited to, the areas of cannabis\ntaxation and environmental protection; (ix) the timely receipt of any required\nregulatory authorizations, approvals, consents, permits and/or licenses; (x)\nconsumer interest in our products; (xi) competition; (xii) anticipated and\nunanticipated costs; (xiii) our ability to generate cash flow from operations;\n(xiv) our ability to conduct operations in a safe, efficient and effective\nmanner; (xv) our ability to hire and retain qualified staff, and acquire\nequipment and services in a timely and cost-efficient manner; (xvi) our\nability to exercise the PharmaCann Option and realize the anticipated benefits\nof the transaction with PharmaCann; (xvii) our ability to successfully market\nthe Winnipeg, Manitoba facility, and to complete planned dispositions, and, if\ncompleted, obtain our anticipated sales price; (xviii) our ability, and the\nabilities of our joint ventures and our suppliers and distributors, to\neffectively deal with the restrictions, limitations and health issues\npresented by the COVID-19 pandemic and the ability to continue our production,\ndistribution and sale of our products and customer demand for and use of our\nproducts; (xix) general economic, financial market, regulatory and political\nconditions in which we operate; (xx) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxi) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be\ncorrect, and that objectives, strategic goals and priorities will not be\nachieved. A variety of factors, including known and unknown risks, many of\nwhich are beyond our control, could cause actual results to differ materially\nfrom the Forward-Looking Statements in this release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, that we may not be able\nto generate the net revenues we anticipate or achieve our cash and cash\nequivalents and short-term investment balance objectives, that we may not be\nable to wind-down our operations at our Winnipeg, Manitoba facility in a\ndisciplined and cost-effective manner or achieve the anticipated benefits\nthereof or be able to access raw materials on a timely and cost-effective\nbasis from third-parties; that we may be unable to further streamline our\noperations and reduce expenses; that we may not be able to wind-down our U.S.\noperations in a disciplined and cost-effective manner or achieve the\nanticipated benefits thereof or be able to effectively and efficiently re-\nenter the U.S. market in the future; that we may not be able to wind-down\ncultivation and certain production activities at the Peace Naturals Campus in\na disciplined manner or achieve the anticipated benefits of the change in the\nnature of our operations or be able to access raw materials on a timely and\ncost-effective basis from third-parties, including Cronos GrowCo; the risk\nthat the COVID-19 pandemic and the military conflict between Russia and\nUkraine may disrupt our operations and those of our suppliers and distribution\nchannels and negatively impact the demand for and use of our products; the\nrisk that cost savings and any other synergies from the Altria Investment may\nnot be fully realized or may take longer to realize than expected; failure to\nexecute key personnel changes; the risks that our Realignment, the change in\nthe nature of our operations at the Peace Naturals Campus and our further\nleveraging of our strategic partnerships will not result in the expected cost-\nsavings, efficiencies and other benefits or will result in greater than\nanticipated turnover in personnel; lower levels of revenues; the lack of\nconsumer demand for our cannabis products; our inability to reduce expenses at\nthe level needed to meet our projected net change in cash and cash\nequivalents; our inability to manage disruptions in credit markets or changes\nto our credit ratings; unanticipated future levels of capital, environmental\nor maintenance expenditures, general and administrative and other expenses;\ngrowth opportunities not turning out as expected; the lack of cash flow\nnecessary to execute our business plan (either within the expected timeframe\nor at all); difficulty raising capital; the potential adverse effects of\njudicial, regulatory or other proceedings, or threatened litigation or\nproceedings, on our business, financial condition, results of operations and\ncash flows; volatility in and/or degradation of general economic, market,\nindustry or business conditions; compliance with applicable environmental,\neconomic, health and safety, energy and other policies and regulations and in\nparticular health concerns with respect to vaping and the use of cannabis in\nvaping devices; the unexpected effects of actions of third parties such as\ncompetitors, activist investors or federal (including U.S. federal), state,\nprovincial, territorial or local regulatory authorities or self-regulatory\norganizations; adverse changes in regulatory requirements in relation to our\nbusiness and products; legal or regulatory obstacles that could prevent us\nfrom being able to exercise the PharmaCann Option and thereby realizing the\nanticipated benefits of the transaction with PharmaCann; dilution of our fully\ndiluted ownership of PharmaCann and the loss of our rights as a result of that\ndilution; a delay in our remediation of a material weakness in our internal\ncontrol over financial reporting and the improvement of our control\nenvironment and our systems, processes and procedures; and the factors\ndiscussed under Part I, Item 1A \u201cRisk Factors\u201d of the Annual Report on Form\n10-K for the year ended December 31, 2022 and under Part II, Item 1A \u201cRisk\nFactors\u201d in our Quarterly Reports. Readers are cautioned to consider these and\nother factors, uncertainties and potential events carefully and not to put\nundue reliance on Forward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\nAs used in this press release, \u201cCBD\u201d means cannabidiol and \u201cU.S. hemp\u201d has the\nmeaning given to the term \u201chemp\u201d in the U.S. Agricultural Improvement Act of\n2018, including hemp-derived CBD.\n\n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts)_ \n| **As of June 30, 2023** | | **As of December 31, 2022** \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 409,428 | | | $ | 764,644 | \nShort-term investments | | 431,510 | | | | 113,077 | \nAccounts receivable, net | | 12,540 | | | | 23,113 | \nInterest receivable | | 9,452 | | | | 2,469 | \nOther receivables | | 4,839 | | | | 3,298 | \nCurrent portion of loans receivable, net | | 5,035 | | | | 8,890 | \nInventory, net | | 45,190 | | | | 37,559 | \nPrepaids and other current assets | | 6,780 | | | | 7,106 | \nTotal current assets | | 924,774 | | | | 960,156 | \nEquity method investments, net | | 17,646 | | | | 18,755 | \nOther investments | | 67,925 | | | | 70,993 | \nNon-current portion of loans receivable, net | | 71,080 | | | | 72,345 | \nProperty, plant and equipment, net | | 57,695 | | | | 60,557 | \nRight-of-use assets | | 1,571 | | | | 2,273 | \nGoodwill | | 1,057 | | | | 1,033 | \nIntangible assets, net | | 25,462 | | | | 26,704 | \nDeferred tax asset | | 1,137 | | | | 193 | \n**Total assets** | $ | 1,168,347 | | | $ | 1,213,009 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 9,340 | | | $ | 11,163 | \nIncome taxes payable | | 438 | | | | 32,956 | \nAccrued liabilities | | 16,573 | | | | 22,268 | \nCurrent portion of lease obligation | | 1,174 | | | | 1,330 | \nDerivative liabilities | | 37 | | | | 15 | \nCurrent portion due to non-controlling interests | | 364 | | | | 384 | \nTotal current liabilities | | 27,926 | | | | 68,116 | \nNon-current portion due to non-controlling interests | | 1,023 | | | | 1,383 | \nNon-current portion of lease obligation | | 2,050 | | | | 2,546 | \nDeferred tax liability | | 675 | | | | \u2014 | \n**Total liabilities** | | 31,674 | | | | 72,045 | \n| | | \n**Shareholders\u2019 equity** | | | \nShare capital | | 613,152 | | | | 611,318 | \nAdditional paid-in capital | | 45,317 | | | | 42,682 | \nRetained earnings | | 463,153 | | | | 490,682 | \nAccumulated other comprehensive income (loss) | | 18,067 | | | | (797 | ) \nTotal equity attributable to shareholders of Cronos Group | | 1,139,689 | | | | 1,143,885 | \nNon-controlling interests | | (3,016 | ) | | | (2,921 | ) \n**Total shareholders\u2019 equity** | | 1,136,673 | | | | 1,140,964 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,168,347 | | | $ | 1,213,009 | \n \n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Statements of Net Loss and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts,\nunaudited)_ \n| **Three months ended June 30,** | | **Six months ended June 30,** \n| | **2023** | | | | **2022** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 25,798 | | | $ | 27,095 | | | $ | 52,352 | | | $ | 54,173 | \nExcise taxes | | (6,777 | ) | | | (5,493 | ) | | | (13,836 | ) | | | (9,866 | ) \n**Net revenue** | | 19,021 | | | | 21,602 | | | | 38,516 | | | | 44,307 | \nCost of sales | | 15,922 | | | | 17,280 | | | | 32,490 | | | | 33,275 | \n**Gross profit** | | 3,099 | | | | 4,322 | | | | 6,026 | | | | 11,032 | \n**Operating expenses** | | | | | | | \nSales and marketing | | 5,297 | | | | 4,185 | | | | 11,038 | | | | 7,195 | \nResearch and development | | 1,107 | | | | 4,194 | | | | 3,146 | | | | 8,115 | \nGeneral and administrative | | 13,451 | | | | 16,286 | | | | 25,307 | | | | 37,417 | \nRestructuring costs | | \u2014 | | | | 978 | | | | \u2014 | | | | 3,009 | \nShare-based compensation | | 2,331 | | | | 2,583 | | | | 4,866 | | | | 6,199 | \nDepreciation and amortization | | 1,533 | | | | 1,398 | | | | 3,058 | | | | 2,666 | \nImpairment loss on long-lived assets | | \u2014 | | | | \u2014 | | | | \u2014 | | | | 3,493 | \nTotal operating expenses | | 23,719 | | | | 29,624 | | | | 47,415 | | | | 68,094 | \nOperating loss | | (20,620 | ) | | | (25,302 | ) | | | (41,389 | ) | | | (57,062 | ) \n**Other income** | | | | | | | \nInterest income, net | | 12,471 | | | | 3,775 | | | | 23,646 | | | | 5,820 | \nGain (loss) on revaluation of derivative liabilities | | 43 | | | | 3,410 | | | | (22 | ) | | | 13,829 | \nShare of income (loss) from equity method investments | | 270 | | | | 5,197 | | | | (226 | ) | | | 5,197 | \nGain (loss) on revaluation of financial instruments | | 5,193 | | | | (2,112 | ) | | | (2,565 | ) | | | 2,156 | \nImpairment loss on other investments | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (11,238 | ) \nForeign currency transaction loss | | (3,174 | ) | | | (2,852 | ) | | | (4,817 | ) | | | (4,724 | ) \nOther, net | | (26 | ) | | | 49 | | | | 59 | | | | 184 | \nTotal other income | | 14,777 | | | | 7,467 | | | | 16,075 | | | | 11,224 | \nLoss before income taxes | | (5,843 | ) | | | (17,835 | ) | | | (25,314 | ) | | | (45,838 | ) \nIncome tax expense (benefit) | | (180 | ) | | | (308 | ) | | | (1,616 | ) | | | 54 | \nLoss from continuing operations | | (5,663 | ) | | | (17,527 | ) | | | (23,698 | ) | | | (45,892 | ) \nLoss from discontinued operations | | (2,834 | ) | | | (2,811 | ) | | | (4,056 | ) | | | (7,099 | ) \nNet loss | | (8,497 | ) | | | (20,338 | ) | | | (27,754 | ) | | | (52,991 | ) \nNet loss attributable to non-controlling interest | | (137 | ) | | | (117 | ) | | | (225 | ) | | | (132 | ) \nNet loss attributable to Cronos Group | $ | (8,360 | ) | | $ | (20,221 | ) | | $ | (27,529 | ) | | $ | (52,859 | ) \n**Comprehensive income (loss)** | | | | | | | \nNet loss | $ | (8,497 | ) | | $ | (20,338 | ) | | $ | (27,754 | ) | | $ | (52,991 | ) \nOther comprehensive income (loss) | | | | | | | \nForeign exchange gain (loss) on translation | | 16,580 | | | | (24,161 | ) | | | 18,994 | | | | (8,184 | ) \nComprehensive income (loss) | | 8,083 | | | | (44,499 | ) | | | (8,760 | ) | | | (61,175 | ) \nComprehensive income (loss) attributable to non-controlling interests | | (87 | ) | | | 122 | | | | (95 | ) | | | (139 | ) \n**Comprehensive income (loss) attributable to Cronos Group** | $ | 8,170 | | | $ | (44,621 | ) | | $ | (8,665 | ) | | $ | (61,036 | ) \n**Net loss per share** | | | | | | | \nBasic and diluted - continuing operations | $ | (0.01 | ) | | $ | (0.05 | ) | | $ | (0.06 | ) | | $ | (0.12 | ) \nBasic and diluted - discontinued operations | | (0.01 | ) | | | \u2014 | | | | (0.01 | ) | | | (0.02 | ) \nBasic and diluted | $ | (0.02 | ) | | $ | (0.05 | ) | | $ | (0.07 | ) | | $ | (0.14 | ) \n \n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n| \n| **Six months ended June 30,** \n| | **2023** | | | | **2022** | \n**Operating activities** | | | \nNet loss | $ | (27,754 | ) | | $ | (52,991 | ) \nAdjustments to reconcile net loss to cash used in operating activities: | | | \nShare-based compensation | | 4,887 | | | | 6,302 | \nDepreciation and amortization | | 4,785 | | | | 7,051 | \nImpairment loss on long-lived assets | | 205 | | | | 3,493 | \nImpairment loss on other investments | | \u2014 | | | | 11,238 | \nLoss (gain) from investments | | 2,955 | | | | (7,193 | ) \nLoss (gain) on revaluation of derivative liabilities | | 22 | | | | (13,829 | ) \nChanges in expected credit losses on long-term financial assets | | (1,146 | ) | | | (655 | ) \nForeign currency transaction loss | | 4,817 | | | | 4,724 | \nOther non-cash operating activities, net | | (4,012 | ) | | | (1,956 | ) \nChanges in operating assets and liabilities: | | | \nAccounts receivable, net | | 10,623 | | | | 1,981 | \nInterest receivable | | (6,807 | ) | | | (383 | ) \nOther receivables | | (200 | ) | | | 3,973 | \nPrepaids and other current assets | | 480 | | | | (3,759 | ) \nInventory | | (7,259 | ) | | | (8,145 | ) \nAccounts payable | | (2,478 | ) | | | 481 | \nIncome taxes payable | | (32,801 | ) | | | \u2014 | \nAccrued liabilities | | (5,784 | ) | | | (1,523 | ) \nCash flows used in operating activities | | (59,467 | ) | | | (51,191 | ) \n**Investing activities** | | | \nPurchase of short-term investments | | (479,763 | ) | | | (157,300 | ) \nProceeds from short-term investments | | 169,418 | | | | 117,975 | \nDividends received from equity method investment | | 1,299 | | | | \u2014 | \nProceeds from repayment on loan receivables | | 11,388 | | | | 1,573 | \nPurchase of property, plant and equipment | | (1,298 | ) | | | (2,218 | ) \nPurchase of intangible assets | | (8 | ) | | | (421 | ) \nOther investing activities | | \u2014 | | | | 70 | \nCash flows used in investing activities | | (298,964 | ) | | | (40,321 | ) \n**Financing activities** | | | \nWithholding taxes paid on share-based awards | | (782 | ) | | | (2,080 | ) \nOther financing activities, net | | \u2014 | | | | 46 | \nCash flows used in financing activities | | (782 | ) | | | (2,034 | ) \nEffect of foreign currency translation on cash and cash equivalents | | 3,997 | | | | (3,884 | ) \nNet change in cash and cash equivalents | | (355,216 | ) | | | (97,430 | ) \nCash and cash equivalents, beginning of period | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 409,428 | | | $ | 789,543 | \n**Supplemental cash flow information** | | | \nInterest paid | $ | \u2014 | | | $ | \u2014 | \nInterest received | $ | 13,385 | | | $ | 3,490 | \nIncome taxes paid | $ | 32,995 | | | $ | 140 | \n \n** \n**\n\n**Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This\nQuarterly Report refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis Quarterly Report are reconciled to their closest reported U.S. GAAP\nmeasure. Reconciliations of historical adjusted financial measures to\ncorresponding U.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; transaction costs related to strategic projects;\nimpairment loss on other investments; foreign currency transaction loss;\nother, net; loss from discontinued operations; restructuring costs; share-\nbased compensation; and financial statement review costs and reserves related\nto the restatements of our 2019 and 2021 interim financial statements (the\n\u201cRestatements\u201d), including the costs related to the settlement of the\nSecurities and Exchange Commission\u2019s (\u201cSEC\u201d) and the Ontario Securities\nCommission\u2019s (\u201cOSC\u201d) investigations of the Restatements and legal costs\ndefending shareholder class action complaints brought against us as a result\nof the 2019 restatement (see Part II, Item 1 \u201cLegal Proceedings\u201d of this\nQuarterly Report for a discussion of the shareholder class action complaints\nrelating to the restatement of the 2019 interim financial statements and the\nsettlement of the SEC\u2019s and the OSC\u2019s investigations of the Restatements).\nResults are reported as total consolidated results, reflecting our reporting\nstructure of one reportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n| **Three months ended June 30, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (5,663 | ) | | $ | (2,834 | ) | | $ | (8,497 | ) \nInterest income, net | | (12,471 | ) | | | (3 | ) | | | (12,474 | ) \nIncome tax benefit | | (180 | ) | | | \u2014 | | | | (180 | ) \nDepreciation and amortization | | 2,265 | | | | 115 | | | | 2,380 | \nEBITDA | | (16,049 | ) | | | (2,722 | ) | | | (18,771 | ) \nShare of income from equity method investments | | (270 | ) | | | \u2014 | | | | (270 | ) \nImpairment loss on long-lived assets ( i ) | | \u2014 | | | | 205 | | | | 205 | \nGain on revaluation of derivative liabilities (ii) | | (43 | ) | | | \u2014 | | | | (43 | ) \nGain on revaluation of financial instruments (iii) | | (5,193 | ) | | | \u2014 | | | | (5,193 | ) \nForeign currency transaction loss | | 3,174 | | | | \u2014 | | | | 3,174 | \nOther, net (v) | | 26 | | | | 163 | | | | 189 | \nRestructuring costs (vi) | | \u2014 | | | | 534 | | | | 534 | \nShare-based compensation (vii) | | 2,331 | | | | 5 | | | | 2,336 | \nFinancial statement review costs (viii) | | 119 | | | | \u2014 | | | | 119 | \nInventory write-down (ix) | | \u2014 | | | | 839 | | | | 839 | \nAdjusted EBITDA | $ | (15,905 | ) | | $ | (976 | ) | | $ | (16,881 | ) \n \n \n\n| **Three months ended June 30, 2022** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (17,527 | ) | | $ | (2,811 | ) | | $ | (20,338 | ) \nInterest income, net | | (3,775 | ) | | | \u2014 | | | | (3,775 | ) \nIncome tax benefit | | (308 | ) | | | \u2014 | | | | (308 | ) \nDepreciation and amortization | | 3,944 | | | | 283 | | | | 4,227 | \nEBITDA | | (17,666 | ) | | | (2,528 | ) | | | (20,194 | ) \nShare of income from equity method investments | | (5,197 | ) | | | \u2014 | | | | (5,197 | ) \nGain on revaluation of derivative liabilities (ii) | | (3,410 | ) | | | \u2014 | | | | (3,410 | ) \nLoss on revaluation of financial instruments (iii) | | 2,112 | | | | \u2014 | | | | 2,112 | \nForeign currency transaction loss | | 2,852 | | | | \u2014 | | | | 2,852 | \nOther, net (v) | | (49 | ) | | | 47 | | | | (2 | ) \nRestructuring costs (vi) | | 978 | | | | 292 | | | | 1,270 | \nShare-based compensation(vii) | | 2,583 | | | | 33 | | | | 2,616 | \nFinancial statement review costs(viii) | | 1,154 | | | | \u2014 | | | | 1,154 | \nAdjusted EBITDA | $ | (16,643 | ) | | $ | (2,156 | ) | | $ | (18,799 | ) \n \n \n\n| **Six months ended June 30, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (23,698 | ) | | $ | (4,056 | ) | | $ | (27,754 | ) \nInterest income, net | | (23,646 | ) | | | (8 | ) | | | (23,654 | ) \nIncome tax benefit | | (1,616 | ) | | | \u2014 | | | | (1,616 | ) \nDepreciation and amortization | | 4,541 | | | | 244 | | | | 4,785 | \nEBITDA | | (44,419 | ) | | | (3,820 | ) | | | (48,239 | ) \nShare of loss from equity method investments | | 226 | | | | \u2014 | | | | 226 | \nImpairment loss on long-lived assets ( i ) | | \u2014 | | | | 205 | | | | 205 | \nLoss on revaluation of derivative liabilities (ii) | | 22 | | | | \u2014 | | | | 22 | \nLoss on revaluation of financial instruments (iii) | | 2,565 | | | | \u2014 | | | | 2,565 | \nForeign currency transaction loss | | 4,817 | | | | \u2014 | | | | 4,817 | \nOther, net (v) | | (59 | ) | | | 163 | | | | 104 | \nRestructuring costs (vi) | | \u2014 | | | | 534 | | | | 534 | \nShare-based compensation (vii) | | 4,866 | | | | 21 | | | | 4,887 | \nFinancial statement review costs (viii) | | 395 | | | | \u2014 | | | | 395 | \nInventory write-down (ix) | | \u2014 | | | | 839 | | | | 839 | \nAdjusted EBITDA | $ | (31,587 | ) | | $ | (2,058 | ) | | $ | (33,645 | ) \n \n \n\n| **Six months ended June 30, 2022** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,892 | ) | | $ | (7,099 | ) | | $ | (52,991 | ) \nInterest income, net | | (5,820 | ) | | | (1 | ) | | | (5,821 | ) \nIncome tax benefit | | 54 | | | | \u2014 | | | | 54 | \nDepreciation and amortization | | 7,051 | | | | 715 | | | | 7,766 | \nEBITDA | | (44,607 | ) | | | (6,385 | ) | | | (50,992 | ) \nShare of income from equity method investments | | (5,197 | ) | | | \u2014 | | | | (5,197 | ) \nImpairment loss on long-lived assets ( i ) | | 3,493 | | | | \u2014 | | | | 3,493 | \nGain on revaluation of derivative liabilities (ii) | | (13,829 | ) | | | \u2014 | | | | (13,829 | ) \nGain on revaluation of financial instruments (iii) | | (2,156 | ) | | | \u2014 | | | | (2,156 | ) \nImpairment loss on other investments (iv) | | 11,238 | | | | \u2014 | | | | 11,238 | \nForeign currency transaction loss | | 4,724 | | | | \u2014 | | | | 4,724 | \nOther, net (v) | | (184 | ) | | | 47 | | | | (137 | ) \nRestructuring costs (vi) | | 3,009 | | | | 1,345 | | | | 4,354 | \nShare-based compensation (vii) | | 6,199 | | | | 103 | | | | 6,302 | \nFinancial statement review costs (viii) | | 5,216 | | | | \u2014 | | | | 5,216 | \nAdjusted EBITDA | $ | (32,094 | ) | | $ | (4,890 | ) | | $ | (36,984 | ) \n \n \n\n(i) | For the three and six months ended June 30, 2023, impairment loss on long-lived assets related to certain leased properties associated with the Company\u2019s U.S. operations. For the six months ended June 30, 2022, impairment loss on long-lived assets related to the Company\u2019s decision to seek a sublease for leased office space in Toronto, Ontario, Canada during the first quarter of 2022. \n---|--- \n(ii) | For the three and six months ended June 30, 2023 and 2022, (gain) loss on revaluation of derivative liabilities represents the fair value changes on the derivative liabilities. \n(iii) | For the three and six months ended June 30, 2023 and 2022, (gain) loss on revaluation of financial instruments related primarily to the Company\u2019s equity securities in Vitura. \n(iv) | For the six months ended June 30, 2022, impairment loss on other investments related to the PharmaCann Option for the difference between its fair value and carrying amount. \n(v) | For the three and six months ended June 30, 2023 and 2022, other, net related to (gain) loss on disposal of assets. \n(vi) | For the three and six months ended June 30, 2023, restructuring costs related to employee-related severance costs and other restructuring costs associated with our U.S. operations. For the three and six months ended June 30, 2022, restructuring costs related to the employee-related severance costs and other restructuring costs associated with the Realignment, including the change in nature of operations at the Peace Naturals Campus. \n(vii) | For the three and six months ended June 30, 2023 and 2022, share-based compensation related to the non-cash expenses of share-based compensation awarded to employees under the Company\u2019s share-based award plans. \n(viii) | For the three and six months ended June 30, 2023 and 2022, financial statement review costs include costs and reserves taken related to the Restatements, costs related to the Company\u2019s responses to requests for information from various regulatory authorities relating to the Restatements and legal costs incurred defending shareholder class action complaints brought against the Company as a result of the 2019 restatement. \n(ix) | For the three and six months ended June 30, 2023, inventory write-downs relate to product destruction and obsolescence associated with the exit of our U.S. operations. \n \n \n\n**_Constant Currency_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for the three and six months\nended June 30, 2023, as well as cash and cash equivalents and short-term\ninvestment balances as of June 30, 2023 compared to December 31, 2022, which\nare considered non-GAAP financial measures. We present constant currency\ninformation to provide a framework for assessing how our underlying operations\nperformed excluding the effect of foreign currency rate fluctuations. To\npresent this information, current and comparative prior period income\nstatement results in currencies other than U.S. dollars are converted into\nU.S. dollars using the average exchange rates from the three and six month\ncomparative periods in 2022 rather than the actual average exchange rates in\neffect during the respective current periods; constant currency current and\nprior comparative balance sheet information is translated at the prior year-\nend spot rate rather than the current period spot rate. All growth comparisons\nrelate to the corresponding period in 2022. We have provided this non-GAAP\nfinancial information to aid investors in better understanding the performance\nof our operations. The non-GAAP financial measures presented in this Quarterly\nReport should not be considered as a substitute for, or superior to, the\nmeasures of financial performance prepared in accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on a constant currency basis for the three and six\nmonths ended June 30, 2023 compared to the three and six months ended June 30,\n2022 as well as cash and cash equivalents and short-term investments as of\nJune 30, 2023 and December 31, 2022, both on an as-reported and constant\ncurrency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nNet revenue | $ | 19,021 | | | | $ | 21,602 | | | | $ | (2,581 | ) | | (12 | ) | % | | $ | 20,219 | | | | $ | (1,383 | ) | | (6 | ) | % \nGross profit | | 3,099 | | | | | 4,322 | | | | | (1,223 | ) | | (28 | ) | % | | | 3,322 | | | | | (1,000 | ) | | (23 | ) | % \nGross margin | | 16 | | % | | | 20 | | % | | | N/A | | | (4 | ) | pp | | | 16 | | % | | | N/A | | | (4 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nOperating expenses | | 23,719 | | | | | 29,624 | | | | $ | (5,905 | ) | | (20 | ) | % | | | 25,216 | | | | | (4,408 | ) | | (15 | ) | % \nNet income (loss) | | (5,663 | ) | | | | (17,527 | ) | | | | 11,864 | | | 68 | | % | | | (6,716 | ) | | | | 10,811 | | | 62 | | % \nAdjusted EBITDA | | (15,905 | ) | | | | (16,643 | ) | | | | 738 | | | 4 | | % | | | (16,968 | ) | | | | (325 | ) | | (2 | ) | % \n| | | | | | | | | | | | | \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nNet revenue | $ | 38,516 | | | | $ | 44,307 | | | | $ | (5,791 | ) | | (13 | ) | % | | | 41,223 | | | | $ | (3,084 | ) | | (7 | ) | % \nGross profit | | 6,026 | | | | | 11,032 | | | | | (5,006 | ) | | (45 | ) | % | | | 6,520 | | | | | (4,512 | ) | | (41 | ) | % \nGross margin | | 16 | | % | | | 25 | | % | | | N/A | | | (9 | ) | pp | | | 16 | | % | | | N/A | | | (9 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nOperating expenses | | 47,415 | | | | | 68,094 | | | | $ | (20,679 | ) | | (30 | ) | % | | | 50,571 | | | | | (17,523 | ) | | (26 | ) | % \nNet loss | | (23,698 | ) | | | | (45,892 | ) | | | | 22,194 | | | 48 | | % | | | (25,738 | ) | | | | 20,154 | | | 44 | | % \nAdjusted EBITDA | | (31,587 | ) | | | | (32,094 | ) | | | | 507 | | | 2 | | % | | | (33,883 | ) | | | | (1,789 | ) | | (6 | ) | % \n| | | | | | | | | | | | | \n| **As of June 30,** | | **As of December 31,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nCash and cash equivalents | $ | 409,428 | | | | $ | 764,644 | | | | $ | (355,216 | ) | | (46 | ) | % | | $ | 407,775 | | | | $ | (356,869 | ) | | (47 | ) | % \nShort-term investments | | 431,510 | | | | | 113,077 | | | | | 318,433 | | | 282 | | % | | | 421,577 | | | | | 308,500 | | | 273 | | % \nTotal cash and cash equivalents and short-term investments | $ | 840,938 | | | | $ | 877,721 | | | | $ | (36,783 | ) | | (4 | ) | % | | $ | 829,352 | | | | $ | (48,369 | ) | | (6 | ) | % \n \n_ \n_\n\n_Net revenue_\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCannabis flower | $ | 14,014 | | $ | 15,739 | | $ | (1,725 | ) | | (11)% | | $ | 14,955 | | $ | (784 | ) | | (5)% \nCannabis extracts | | 4,926 | | | 5,582 | | | (656 | ) | | (12)% | | | 5,178 | | | (404 | ) | | (7)% \nOther | | 81 | | | 281 | | | (200 | ) | | (71)% | | | 86 | | | (195 | ) | | (69)% \nNet revenue | $ | 19,021 | | $ | 21,602 | | $ | (2,581 | ) | | (12)% | | $ | 20,219 | | $ | (1,383 | ) | | (6)% \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCannabis flower | $ | 27,142 | | $ | 34,364 | | $ | (7,222 | ) | | (21 | ) | % | | $ | 29,158 | | $ | (5,206 | ) | | (15 | ) | % \nCannabis extracts | | 11,227 | | | 9,570 | | | 1,657 | | | 17 | | % | | | 11,909 | | | 2,339 | | | 24 | | % \nOther | | 147 | | | 373 | | | (226 | ) | | (61 | ) | % | | | 156 | | | (217 | ) | | (58 | ) | % \nNet revenue | $ | 38,516 | | $ | 44,307 | | $ | (5,791 | ) | | (13 | ) | % | | $ | 41,223 | | $ | (3,084 | ) | | (7 | ) | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCanada | $ | 13,595 | | $ | 14,389 | | $ | (794 | ) | | (6)% | | $ | 14,293 | | $ | (96 | ) | | (1)% \nIsrael | | 5,426 | | | 7,213 | | | (1,787 | ) | | (25)% | | | 5,926 | | | (1,287 | ) | | (18)% \nNet revenue | $ | 19,021 | | $ | 21,602 | | $ | (2,581 | ) | | (12)% | | $ | 20,219 | | $ | (1,383 | ) | | (6)% \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCanada | $ | 28,029 | | $ | 27,965 | | $ | 64 | | | \u2014 | | % | | $ | 29,701 | | $ | 1,736 | | | 6 | | % \nIsrael | | 10,487 | | | 16,342 | | | (5,855 | ) | | (36 | ) | % | | | 11,522 | | | (4,820 | ) | | (29 | ) | % \nNet revenue | $ | 38,516 | | $ | 44,307 | | $ | (5,791 | ) | | (13 | ) | % | | $ | 41,223 | | $ | (3,084 | ) | | (7 | ) | % \n \n \n\nFor the three months ended June 30, 2023, net revenue on a constant currency\nbasis was $20.2 million, representing a 6% decrease from the three months\nended June 30, 2022. For the six months ended June 30, 2023, net revenue on a\nconstant currency basis was $41.2 million, representing a 7% decrease from the\nsix months ended June 30, 2022. On a constant currency basis, net revenue\ndecreased for the three and six months ended June 30, 2023 primarily due to\nlower cannabis flower sales in Israel due to competitive activity, the\nslowdown in patient permit authorizations and political unrest, and an adverse\nprice/mix in Canada in the cannabis flower category driving increased excise\ntax payments as a percentage of revenue.\n\n_Gross profit_\n\nFor the three months ended June 30, 2023, gross profit on a constant currency\nbasis was $3.3 million, representing a 23% decrease from the three months\nended June 30, 2022. For the six months ended June 30, 2023, gross profit on a\nconstant currency basis was $6.5 million, representing a 41% decrease from the\nsix months ended June 30, 2022. On a constant currency basis, gross profit\ndecreased for the three and six months ended June 30, 2023 primarily due to\nlower cannabis flower sales in the Israeli medical market and adverse\nprice/mix on cannabis flower sales in Canada resulting in higher excise taxes\nas a percentage of revenue.\n\n_Operating expenses_\n\nFor the three months ended June 30, 2023, operating expenses on a constant\ncurrency basis were $25.2 million, representing a 15% decrease from the three\nmonths ended June 30, 2022. For the six months ended June 30, 2023, operating\nexpenses on a constant currency basis were $50.6 million, representing a 26%\ndecrease from the six months ended June 30, 2022. On a constant currency\nbasis, operating expenses decreased for the three and six months ended June\n30, 2023 primarily due to lower professional fees, largely related to\nfinancial statement review costs, lower bonus expense, lower insurance costs,\nlower costs associated with the achievement of Ginkgo milestones and\nimpairment loss on long-lived assets recognized in the prior year.\n\n_Net loss_\n\nFor the three months ended June 30, 2023, net loss on a constant currency\nbasis was $6.7 million, representing a 62% reduction in net loss from the\nthree months ended June 30, 2022. For the six months ended June 30, 2023, net\nloss on a constant currency basis was $25.7 million, representing a 44%\nreduction in net loss from the six months ended June 30, 2022.\n\n_Adjusted EBITDA_\n\nFor the three months ended June 30, 2023, Adjusted EBITDA on a constant\ncurrency basis was $(17.0) million, representing a 2% decrease from the three\nmonths ended June 30, 2022. For the six months ended June 30, 2023, Adjusted\nEBITDA on a constant currency basis was $(33.9) million, representing a 6%\ndecrease from the six months ended June 30, 2022. The decrease in Adjusted\nEBITDA for the three and six months ended June 30, 2023 on a constant currency\nbasis was primarily driven by lower cannabis flower sales in the Israeli\nmedical market and adverse price/mix on cannabis flower sales in Canada\nresulting in higher excise taxes as a percentage of revenue, partially offset\nby decreases in general and administrative expenses primarily due to lower\nbonus expense, insurance costs and professional fees as well as lower costs\nassociated with the achievement of Ginkgo milestones.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis decreased 6% to $829.4 million as of June 30, 2023 from $877.7 million\nas of December 31, 2022. The decrease in cash and cash equivalents and short-\nterm investments is primarily due to cash flows used in operating activities\nin the six months ended June 30, 2023.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this Quarterly Report are stated in U.S. dollars,\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to U.S. dollars. The assets and liabilities of our\nforeign operations are translated into dollars at the exchange rate in effect\nas of June 30, 2023, June 30, 2022, and December 31, 2022. Transactions\naffecting the shareholders\u2019 equity (deficit) are translated at historical\nforeign exchange rates. The condensed consolidated statements of net loss and\ncomprehensive income (loss) and condensed consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the reporting period as reported\non Bloomberg. The exchange rates used to translate from USD to Canadian\ndollars (\u201cC$\u201d) and Israeli New Shekels (\"ILS\") are shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As of** \n---|--- \n| **June 30, 2023** | | **June 30, 2022** | | **December 31, 2022** \nSpot rate | 1.3242 | | 1.2874 | | 1.3554 \nYear-to-date average rate | 1.3474 | | 1.2715 | | N/A \n \n \n\n_(Exchange rates are shown as ILS per $)_ | **As of** \n---|--- \n| **June 30, 2023** | | **June 30, 2022** | | **December 31, 2022** \nSpot rate | 3.7051 | | 3.4936 | | 3.5178 \nYear-to-date average rate | 3.5892 | | 3.267 | | N/A \n \n** \n**\n\n**For further information, please contact:** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n \n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
"reason": "GlobeNewswire is a reputable source for press releases, and this release contains information directly from Cronos Group about their financial results.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Cronos Group's press release about their 2023 second-quarter results.",
"url": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "c5aad4f5-efe3-409b-81b9-ea43612002f6",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/oRSqvfwo"
},
"page_content": "## Head of Global Information Systems\n\nInformation Systems United States United States United States United\nStates\n\n* * *\n\n[ Apply ](/cronosgroup/job/oRSqvfwo/apply)\n\n### Description\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit: [\nhttps://thecronosgroup.com/ ](https://thecronosgroup.com/) .\n\nAt Cronos Group, we hire talented people who thrive on solving difficult\nproblems and give them the opportunity to hone new skills and approaches. If\nyou want to play a part in shaping an innovative industry and help build a\nhistorically significant company, we want to meet you.\n\nAs the Head of Global Information Systems, you will lead the definition and\ndelivery of the Information Technology strategy and capabilities across the\nenterprise. The Head of Global Information System is responsible for Cronos\u2019s\ntechnology strategy, operational performance and digital innovation across all\noperations.\n\nThe Head of Global Information System will approach information technology\nwith an innovation agenda, a customer service mentality, a vision for the\nfuture, and a transformational mindset. They will build a long-term, consumer-\ncentric information technology (IT) strategy that supports the Company\u2019s\ngrowth within existing lines of business and regions. In addition, the Global\nHead of IS will monitor external technology changes and be a source of\ncontinuous innovation, which will effectively differentiate Cronos from the\ncompetition.\n\nWhat you\u2019ll be doing:\n\n * Drives the modernization of business systems, project development and support practices. \n * Initiator and catalyst for the process of continuous improvement, both as it relates to financial processes (e.g., reporting and analytical infrastructure) and business processes (e.g., Prospect-To-Order, Order-To-Cash, and Purchase-To-Pay). \n * Lead IS strategic and operational planning to achieve business goals by fostering innovation, prioritizing IS initiatives, driving operational excellence, and coordinating the evaluation, deployment, and management of current and future IS across the organization. \n * Establish priorities and objectives based on business goals; manage performance towards desired results. \n * Identifies opportunities for suitable and cost-effective investment in IS, including staffing, sourcing, purchasing and development; develops business case justifications and cost/benefit analyses for IS spend and initiatives. \n * Outsourcing Partner Management experience: extract and maximize output from outsourcing partners. \n * Establish data discipline and governance across all master data e.g. Customer, Vendor, Material. \n * Interact with peers, direct reports, and other employees in a manner that reflects leadership, encourages open two-way communications, and contributes to exceptional employee relations throughout the Company. \n * Ensure the technology team attracts, develops, and retains the best people and fosters an environment that motivates the team to fully realize its capabilities in achieving desired business results. \n * Cost management best practices to balance investment in technology with clear cost-benefit analysis and improved compliance/control. \n * Ensuring compliance with regulatory requirements (e.g., SOX) and internal policies. \n * Engaging third parties to assess the effectiveness of cybersecurity controls and implement mitigation strategies for any risks identified. \n\nYou\u2019ll need to have:\n\n * Bachelor or advanced degree in Computer Science or related field; or equivalent additional experience \n * 10+ years of information systems and technology administration experience with an increasing level of responsibility and scope \n * Experience scaling IS organizations through typical growth stages and a background in large-scale implementations, cloud technologies, systems development lifecycle (SDLC), business intelligence, IS governance and transformation. \n * Experience leading IT audit initiatives and collaborating with external auditors to address any findings related to IT controls. Familiarity with e-commerce, IT back end, mobile apps and APIs is a plus \n * Familiarity with SAP systems a plus \n * Managerial accounting experience with IT spend (budgeting and forecasting IT spend on quarterly, annual, and multi-year basis as well as calculating project ROI) \n * Demonstration of strong program and project management capabilities \n * Solid interpersonal and leadership skills, capable of establishing and maintaining effective relationships with executives, employees, and outside vendors. \n * A strategic thinker, problem-solver and effective project manager who is comfortable rolling up their sleeves and being hands-on. \n * A knack for identifying and tackling \u201chard problems\u201d, thinking creatively, and getting things done \n * A passion for staying current on technology and continuous improvement mentality, always working to improve processes, systems, functions, and experiences. \n * Exceptional communication skills to articulate technical possibilities and limitations of systems to non-technical colleagues. \n * Experience as a change agent in building high-performing teams in complex and changing environments with high levels of ambiguity. \n * A player and coach; capable of being an effective people leader while developing your team to operate at peak performance. \n\nAdditional Notes\n\nNOTE: Job Description is not intended to be all-inclusive. Employees may\nperform other related duties to meet the ongoing needs of the organization.\n\nWe are committed to fostering a diverse and inclusive work environment, and we\nwelcome and encourage applications from people with disabilities and people\nwith diverse backgrounds, identities, and cultures. For candidates with\ndisabilities, accommodations are available upon request in all phases of the\nselection process.\n\n[ Apply ](/cronosgroup/job/oRSqvfwo/apply) Apply Later\n\n[ Back to Current Openings ](/cronosgroup/jobs)\n\n#### Share this job\n\n[ __ LinkedIn ]() [ __ Facebook ]() __ Twitter __ Email\n\n__\n\n[ _ Powered by Jobvite _ ](https://www.jobvite.com/support/job-seeker-\nsupport/)\n\n * [ Website Terms of Use ](https://thecronosgroup.com/term_of_use.php)\n * [ Website Privacy Statement ](https://thecronosgroup.com/website_privacy_statement.php)\n * [ Cookie Policy ](https://thecronosgroup.com/cookie_policy.php)\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\nBack to Top\n\n",
"url": "https://jobs.jobvite.com/cronosgroup/job/oRSqvfwo"
},
"reason": "This is a job posting on the Cronos Group's official Jobvite page, providing direct information about employment opportunities within the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "This is a job posting on the Cronos Group's official Jobvite page.",
"url": "https://jobs.jobvite.com/cronosgroup/job/oRSqvfwo"
},
{
"content": {
"metadata": {
"ext_id": "d4b7204b-ede6-4014-9e38-ae61f5d7dc03",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31473479/cronos-appoints-anna-shlimak-as-chief-financial-officer/"
},
"page_content": "Skip to main content\n\n * [ TSX 0.69 % ](https://www.theglobeandmail.com/investing/markets/indices/TXCX/)\n * [ S&P 500 1.67 % ](https://www.theglobeandmail.com/investing/markets/indices/INX/)\n * [ DOW 1.07 % ](https://www.theglobeandmail.com/investing/markets/indices/DOWI/)\n * [ NASDAQ 2.5 % ](https://www.theglobeandmail.com/investing/markets/indices/NASX/)\n * [ Oil 1.01 % ](https://www.theglobeandmail.com/investing/markets/commodities/CL*0/)\n * [ Dollar 0.19 % ](https://www.theglobeandmail.com/investing/markets/currencies/CADUSD/)\n * [ Gold 1.38 % ](https://www.theglobeandmail.com/investing/markets/commodities/GC*0/)\n * [ tsx movers: ](/investing/markets/stocks/)\n * [ WCP-T -1.84 % ](https://www.theglobeandmail.com/investing/markets/stocks/WCP-T/)\n * [ CNQ-T -0.74 % ](https://www.theglobeandmail.com/investing/markets/stocks/CNQ-T/)\n * [ BTE-T -2.56 % ](https://www.theglobeandmail.com/investing/markets/stocks/BTE-T/)\n * [ BMO-T \\+ 0.44 % ](https://www.theglobeandmail.com/investing/markets/stocks/BMO-T/)\n\nThis section contains press releases and other materials from third parties\n(including paid content). The Globe and Mail has not reviewed this content.\nPlease see [ disclaimer ](https://www.theglobeandmail.com/privacy-\nterms/disclaimer/) .\n\n# Cronos Appoints Anna Shlimak as Chief Financial Officer\n\nCronos Group Inc. - [ GlobeNewswire ](https://www.globenewswire.com/) \\- Wed\nMar 19, 6:30AM CDT\n\nTORONTO, March 19, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), an innovative global cannabinoid\ncompany, today announced the appointment of Anna Shlimak as Chief Financial\nOfficer, effective today. Ms. Shlimak, who previously served as Cronos\u2019 Chief\nStrategy Officer, will succeed James Holm who is stepping down to pursue other\nopportunities and will remain with the Company through April 18, 2025 to\nensure a seamless transition.\n\nMs. Shlimak has been an integral part of Cronos\u2019 leadership team for the last\nseven years, playing a key role in shaping the Company\u2019s strategy, operational\nefficiencies, and engagement with the financial and investment community.\nDuring her tenure, she has led many strategic initiatives including cost\noptimization, revenue growth, and building Cronos\u2019 corporate brand, which have\npositioned the Company for long-term success.\n\n\u201cI am incredibly pleased Anna Shlimak is stepping into the Chief Financial\nOfficer role,\u201d said Mike Gorenstein, President and Chief Executive Officer,\nCronos. \u201cAnna has been an essential part of our senior leadership team. With a\ndeep understanding of our business and a proven track record of driving\nfinancial performance, operational efficiency and strategic growth, Anna is\nthe ideal leader to help drive our financial strategy and next phase of\ngrowth.\n\nMr. Gorenstein continued, \u201cI want to sincerely thank James for his\ncontributions to Cronos. He played an important role in improving our finance\nfunctions and has worked to build a robust Finance team. His commitment to\nCronos has been essential and I thank James for everything he\u2019s contributed to\nthe Company and wish him all the best in his future endeavors.\u201d\n\nMr. Holm said, \u201cI'm incredibly proud of what we've accomplished over the past\ntwo and a half years and look forward to watching the Cronos team continue to\ndeliver strong results. Under Anna\u2019s leadership, I\u2019m confident the Company\nwill continue to grow and lead the cannabis industry on a global scale.\u201d\n\nMs. Shlimak said, \u201cI am honored to step into the role of CFO and continue\nworking alongside our talented teams. Cronos is committed to building\nexceptional cannabis brands and products that enhance experiences, and I am\nexcited to lead our financial and strategic growth as we continue to expand\nand drive performance. As we enter the next phase of growth, I look forward to\ndriving long-term value for our shareholders, employees, and consumers.\u201d\n\n**About Anna Shlimak** \nAnna recently served as the Company\u2019s Chief Strategy Officer and was\nresponsible for managing and directing the organization\u2019s corporate strategy,\ninvestor relations, communications, government affairs, and information\nsystems departments. Prior to joining Cronos, Anna was the Head of Investor\nRelations at Quest Partners LLC, a research-driven alternative investment\nfirm. Anna was responsible for business development, investor reporting,\nmarketing, and communication initiatives for the fund. Before that, Anna held\na range of roles at the New York Stock Exchange in both the New York and\nLondon offices. She received a Master of Business Administration from Columbia\nBusiness School and holds a Bachelor of Science in Economics from The Wharton\nSchool at the University of Pennsylvania.\n\n**About Cronos Group Inc.** \nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-looking Statements** \nThis press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about transition plans with respect to the\nCompany\u2019s Chief Financial Officer role; the Company\u2019s growth, industry\nleadership, success and financial strategy; long-term value for the Company\u2019s\nshareholders, employees and consumers; and the Company\u2019s intention to build an\ninternational iconic brand portfolio and develop disruptive intellectual\nproperty by advancing cannabis research, technology and product development.\nForward-looking Statements are necessarily based upon a number of estimates\nand assumptions that, while considered reasonable by management, are\ninherently subject to significant business, economic and competitive risks.\nFinancial results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and\nEDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement.\n\n**Media Relations Contact:** \nEmily Whalen \nCommunications \nTel: (416) 504-0004 \n[ _media.relations@thecronosgroup.com_\n](mailto:media.relations@thecronosgroup.com)\n\n**Investor Relations Contact:** \nTel: (416) 504-0004 \n[ _investor.relations@thecronosgroup.com_\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\n**_This article contains syndicated content. We have not reviewed, approved,\nor endorsed the content, and may receive compensation for placement of the\ncontent on this site. For more information please view the Barchart Disclosure\nPolicy[ here ](https://www.barchart.com/terms#disclosure) . _ **\n\nAll [ market data (will open in new tab)\n](https://www.barchart.com/solutions/data/market) is provided by Barchart\nSolutions. Copyright \u00a9 2025 .\n\nInformation is provided 'as is' and solely for informational purposes, not for\ntrading purposes or advice. For exchange delays and terms of use, please read\n[ disclaimer (will open in new tab)\n](https://www.barchart.com/solutions/company/terms-and-privacy) .\n\n * [ Terms & Conditions ](/privacy-terms/terms-and-conditions/?intcmp=footer)\n * [ Community Guidelines ](/privacy-terms/community-guidelines/?intcmp=footer)\n * [ Privacy Policy ](/privacy-terms/privacy-policy/?intcmp=footer)\n * [ Disclaimer ](/privacy-terms/disclaimer/?intcmp=footer)\n\nSkip footer navigation\n\n * Subscribe \n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n * Business services \n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n * Contact us \n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n * Reader services \n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n * About us \n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\n## Subscribe\n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n## Business services\n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n## Contact us\n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n## Reader services\n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n## About us\n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\nReturn to start of footer navigation\n\n[ ](https://itunes.apple.com/ca/app/the-globe-and-mail-news/id429228415?mt=8)\n[\n](https://play.google.com/store/apps/details?id=com.theglobeandmail.headliner&hl=en)\n\n[ ](https://news.google.com/publications/CAAqBwgKMNLRigEwpPYu) [\n](https://apple.news/T8DrF3Bh5SHCSfJ2qlK1scA) [\n](https://twitter.com/globeandmail) [ ](https://www.linkedin.com/company/the-\nglobe-and-mail/) [ ](https://www.youtube.com/user/TheGlobeandMail) [\n](https://www.tiktok.com/@globeandmail) [\n](https://www.facebook.com/theglobeandmail) [\n](https://instagram.com/globeandmail) [\n](https://story.snapchat.com/p/f9c37a38-b555-4c37-a97a-598423457108)\n\n\u00a9 Copyright 2025 The Globe and Mail Inc. All rights reserved.\n\n351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1\n\nAndrew Saunders, President and CEO\n\n *[\n ON\n ]: Ontario\n\n",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31473479/cronos-appoints-anna-shlimak-as-chief-financial-officer/"
},
"reason": "The Globe and Mail is a reputable news source, and this press release announces the appointment of a new CFO at Cronos Group, indicating a high level of reliability.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' activities value chain",
"summary": "Reports on Cronos Group's appointment of a new CFO.",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON/pressreleases/31473479/cronos-appoints-anna-shlimak-as-chief-financial-officer/"
},
{
"content": {
"metadata": {
"ext_id": "b902febc-b3ad-463f-bdd1-a9ccb0df2394",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nFebruary 27, 2025 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of the Peace Naturals Campus; \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n* * *\n\n## Tags\n\n[ Cannabis ](/en/search/tag/cannabis \"Cannabis\") [ CRON ](/en/search/tag/cron\n\"CRON\") [ Cronos ](/en/search/tag/cronos \"Cronos\") [ Cronos Group\n](/en/search/tag/cronos%2520group \"Cronos Group\")\n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results, providing factual information directly from the company. GlobeNewswire is a reputable source for distributing company news.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "This press release from GlobeNewswire reports Cronos Group's 2024 fourth-quarter and full-year results.",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "f109c4a4-17d1-48de-a2fe-42f74d366603",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/oVrwvfw7"
},
"page_content": "__\n\nThe job listing no longer exists.\n\n * Banner 1 \n\n# Work with Us\n\nOur teams are small, but our impact is large. If you\u2019re up for the challenge,\ncheck out our open positions below.\n\nNotice: Fraudulent Recruitment Attempts \nIt has come to our attention that individuals falsely claiming to represent\nCronos Group, or to work on behalf of Cronos Group, have been sending\nfraudulent communications pertaining to false employment opportunities. This\ncan include fraudulent interview opportunities and job offer letters. If you\nthink that you have been contacted by these individuals, we recommend that you\nnot share any personal or sensitive information.\n\n### *Internal Employees Only\n\n * [ Internal Employee Job Application ](/cronosgroup/job/osNkufwN)\n\n### Information Systems\n\n * [ Head of Global Information Systems 4 Locations ](/cronosgroup/job/oRSqvfwo)\n\n### Marketing\n\n * [ Brand Manager Kibbutz Gan-Shmuel, Israel ](/cronosgroup/job/ohCgvfwo)\n * [ Manager, Social Media & Influencer Remote, Canada ](/cronosgroup/job/oCJSvfws)\n\n### Operations\n\n * [ Engineering Manager Stayner, ON ](/cronosgroup/job/ocvFvfwB)\n * [ Process Engineer Stayner, ON ](/cronosgroup/job/ofIyvfwK)\n\n### Procurement\n\n * [ Procurement Specialist Stayner, ON ](/cronosgroup/job/odg0ufwH)\n * [ Sourcing Manager Stayner, ON ](/cronosgroup/job/oNlWufwi)\n * [ Sourcing Manager 2 Locations ](/cronosgroup/job/otuwvfwI)\n\n### Research and Development\n\n * [ Product Development Associate Scientist Stayner, ON ](/cronosgroup/job/oXCpvfwd)\n * [ Senior Manager Innovation Process Development Stayner, ON ](/cronosgroup/job/oFRIvfwt)\n\n### Sales\n\n * [ Territory Manager, Toronto Core Toronto, ON ](/cronosgroup/job/odpIvfwz)\n\n## Want to know more about Life at Cronos?\n\nClick the link below to view our LinkedIn Life Page\n\n[ Life at Cronos\n](https://www.linkedin.com/company/cronosgroupcron/life/27296746-f823-4476-88bb-80f112015c38/?viewAsMember=true)\n\nWe are committed to fostering a diverse and inclusive work environment, and we\nwelcome and encourage applications from people with disabilities and people\nwith diverse backgrounds, identities, and cultures. For candidates with\ndisabilities, accommodations are available upon request in all phases of the\nselection process.\n\n[ Sign up for Job Alerts. ](/cronosgroup/jobAlerts)\n\n[ _ Powered by Jobvite _ ](https://www.jobvite.com/support/job-seeker-\nsupport/)\n\n * [ Website Terms of Use ](https://thecronosgroup.com/term_of_use.php)\n * [ Website Privacy Statement ](https://thecronosgroup.com/website_privacy_statement.php)\n * [ Cookie Policy ](https://thecronosgroup.com/cookie_policy.php)\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\nBack to Top\n\n",
"url": "https://jobs.jobvite.com/cronosgroup/job/oVrwvfw7"
},
"reason": "This is a job posting on the Cronos Group's official Jobvite page, providing direct information about employment opportunities within the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "This is a job posting on the Cronos Group's official Jobvite page.",
"url": "https://jobs.jobvite.com/cronosgroup/job/oVrwvfw7"
},
{
"content": {
"metadata": {
"ext_id": "9a45bce9-2a49-43f7-9b4b-700e6b14780c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.complianceweek.com/regulatory-enforcement/cronos-avoids-fine-in-sec-settlement-over-accounting-errors/32281.article"
},
"page_content": " * Skip to main content \n * Skip to navigation \n\n[ Regulatory Enforcement ](https://www.complianceweek.com/topics/regulatory-\nenforcement)\n\n# Cronos avoids fine in SEC settlement over accounting errors\n\nBy [ ](https://www.complianceweek.com/adrianne-appel/2667.bio) [ Adrianne\nAppel ](https://www.complianceweek.com/adrianne-appel/2667.bio)\n2022-10-25T19:06:00\n\n**Canadian cannabis company Cronos Group and its former chief commercial\nofficer each avoided fines in reaching settlements with the Securities and\nExchange Commission (SEC) announced Monday over alleged accounting fraud.**\n\nCronos, a Nasdaq-listed company since 2018, submitted inaccurate financial\nstatements to the SEC in two quarters in 2019 when it improperly recognized\nrevenue from the sale of cannabis flower and purchase of a finished cannabis\nproduct, the agency stated in its order. In one of the quarters, William\nHilson, Cronos\u2019s former chief commercial officer, allegedly entered into an\nundisclosed oral agreement to sell cannabis flower and then repurchase\nfinished cannabis product in the following quarter.\n\nHilson didn\u2019t report the agreement to the SEC or Cronos, which discovered the\naccounting errors through an internal investigation, according to the SEC.\n\n## THIS IS MEMBERS-ONLY CONTENT\n\n**[ SINGLE MEMBERSHIP ](https://www.complianceweek.com/membership) [ CORPORATE\nMEMBERSHIP ](https://www.complianceweek.com/membership/) **\n\n_You are not logged in and do not have access to members-only content._\n\nIf you are already a registered user or a member, **[ SIGN IN ](/sign-in) **\nnow.\n\n### Related articles\n\n * [ ](https://www.complianceweek.com/regulatory-enforcement/sec-charges-three-austal-usa-execs-with-accounting-fraud/32916.article)\n\n[ News Brief ](https://www.complianceweek.com/news-brief/1037.type)\n\n### [ SEC charges three Austal USA execs with accounting fraud\n](https://www.complianceweek.com/regulatory-enforcement/sec-charges-three-\naustal-usa-execs-with-accounting-fraud/32916.article)\n\n2023-04-03T19:21:00Z By [ Aaron Nicodemus\n](https://www.complianceweek.com/aaron-nicodemus/2584.bio)\n\nThree executives at the U.S. subsidiary of Australian defense contractor\nAustal Limited were charged with accounting fraud for allegedly participating\nin a three-year scheme to lower cost estimates and prematurely book revenue.\n\n * [ ](https://www.complianceweek.com/regulatory-enforcement/roadrunner-avoids-96m-in-penalties-in-sec-accounting-fraud-case/32679.article)\n\n[ News Brief ](https://www.complianceweek.com/news-brief/1037.type)\n\n### [ Roadrunner avoids $9.6M in penalties in SEC accounting fraud case\n](https://www.complianceweek.com/regulatory-enforcement/roadrunner-\navoids-96m-in-penalties-in-sec-accounting-fraud-case/32679.article)\n\n2023-02-15T16:56:00Z By [ Aaron Nicodemus\n](https://www.complianceweek.com/aaron-nicodemus/2584.bio)\n\nRoadrunner Transportation Systems avoided further penalties regarding\nallegations of accounting fraud after the Securities and Exchange Commission\ndeemed a $20 million class-action settlement agreed to in 2019 returned any\nill-gotten gains.\n\n * [ ](https://www.complianceweek.com/regulatory-enforcement/ftc-sues-uber-over-deceptive-subscriptions-a-rare-move-for-consumers-by-trump-officials/35945.article)\n\n[ News Brief ](https://www.complianceweek.com/news-brief/1037.type)\n\n### [ FTC sues Uber over deceptive subscriptions, a rare move for consumers\nby Trump officials ](https://www.complianceweek.com/regulatory-\nenforcement/ftc-sues-uber-over-deceptive-subscriptions-a-rare-move-for-\nconsumers-by-trump-officials/35945.article)\n\n2025-04-22T12:00:00Z\n\nThe Federal Trade Commission (FTC) filed a lawsuit against Uber, alleging the\nride-hailing company signed customers up for its Uber One subscription without\nconsent, then made it hard for them to cancel. The move marks the U.S.\ngovernment\u2019s latest broadside against big tech companies, and the first major\naction from ...\n\n### More from Regulatory Enforcement\n\n * [ ](https://www.complianceweek.com/regulatory-enforcement/cfpb-pullback-signals-further-shift-toward-industry-friendly-regulation/35942.article)\n\n[ News Brief ](https://www.complianceweek.com/news-brief/1037.type)\n\n### [ CFPB pullback signals further shift toward industry-friendly regulation\n](https://www.complianceweek.com/regulatory-enforcement/cfpb-pullback-signals-\nfurther-shift-toward-industry-friendly-regulation/35942.article)\n\n2025-04-18T17:45:00Z By [ Oscar Gonzalez\n](https://www.complianceweek.com/oscar-gonzalez/2704.bio)\n\nThe U.S. Consumer Financial Protection Bureau continues to unravel amid\npressure from Trump administration officials to shutter the agency. Not only\nhas the agency informed its employees that it will no longer be a watchdog for\nthe financial services industry, it has also laid off employees despite court\norders blocking ...\n\n * [ ](https://www.complianceweek.com/regulatory-enforcement/trumps-cfpb-dismissing-comerica-case-continues-to-cut-down-biden-era-lawsuits/35936.article)\n\n[ News Brief ](https://www.complianceweek.com/news-brief/1037.type)\n\n### [ Trump\u2019s CFPB, dismissing Comerica case, continues to cut down Biden-era\nlawsuits ](https://www.complianceweek.com/regulatory-enforcement/trumps-cfpb-\ndismissing-comerica-case-continues-to-cut-down-biden-era-\nlawsuits/35936.article)\n\n2025-04-15T07:30:00Z By [ Aaron Nicodemus\n](https://www.complianceweek.com/aaron-nicodemus/2584.bio)\n\nThe Consumer Financial Protection Bureau dropped yet another consumer\nprotection lawsuit against a bank or fintech provider since Donald Trump was\nsworn in as president in January. This time, it was with Comerica Bank.\n\n * [ ](https://www.complianceweek.com/regulatory-enforcement/cash-app-parent-to-pay-40-million-for-alleged-bsa/aml-violations-in-new-york/35934.article)\n\n[ News Brief ](https://www.complianceweek.com/news-brief/1037.type)\n\n### [ Cash App parent to pay $40 million for alleged BSA/AML violations in\nNew York ](https://www.complianceweek.com/regulatory-enforcement/cash-app-\nparent-to-pay-40-million-for-alleged-bsa/aml-violations-in-new-\nyork/35934.article)\n\n2025-04-11T08:00:00Z By [ Adrianne Appel\n](https://www.complianceweek.com/adrianne-appel/2667.bio)\n\nBlock Inc., maker of the popular Cash App, has been hit with a $40 million\nfine by New York for its alleged failure to report suspicious activity. The\nmove marks the latest in a string of recent state and federal enforcement\nactions against the company.\n\n * [ Contact us ](https://www.complianceweek.com/contact-us)\n * [ CW Advisory Board ](https://www.complianceweek.com/compliance-week-advisory-board/30008.article)\n * [ Accessibility ](https://wilmingtonplc.com/accessibility-statement-wilmington-plc)\n * [ Help ](https://www.complianceweek.com/help)\n * [ Editorial Submissions ](https://www.complianceweek.com/editorial-submissions-and-media-inquiries/33365.article)\n * [ Advertise ](https://www.complianceweek.com/advertise)\n * [ Email Preferences ](https://account.complianceweek.com/questionnaireform?surveycode=5)\n * [ Media Inquiries ](https://www.complianceweek.com/editorial-submissions-and-media-inquiries/33365.article)\n * [ Reprints ](https://www.complianceweek.com/reprints)\n * [ My CW ](https://www.complianceweek.com/my-account)\n * [ CW Staff ](https://www.complianceweek.com/contact-us)\n * [ Media Toolkit ](https://www.complianceweek.com/advertise)\n * [ CW Careers ](https://careers-wilmingtonplc.icims.com/jobs/search?ss=1&searchCategory=33670)\n * [ Search ](https://www.complianceweek.com/searchresults?qkeyword=)\n\n * [ Terms and Conditions ](https://www.complianceweek.com/terms-and-conditions)\n * [ Privacy Policy ](https://www.complianceweek.com/privacy-policy)\n * [ Do Not Sell My Info ](https://www.complianceweek.com/footer-navigation/ccpa-opt-out/28363.article)\n * \u00a9 2025 Compliance Week \n\nConnect with us to join the compliance conversation.\n\n * [ ](https://www.facebook.com/ComplianceWk/ \"Connect with us on Facebook\")\n * [ ](https://twitter.com/complianceweek \"Connect with us on Twitter\")\n * [ ](https://www.linkedin.com/company/89639 \"Connect with us on Linked in\")\n * [ ](https://www.instagram.com/compliance_week/ \"Connect with us on Instagram\")\n * [ ](mailto:info@complianceweek.com \"Email us\")\n\nSite powered by [ Webvision Cloud\n](https://www.abacusemedia.com/webvisioncloud)\n\n",
"url": "https://www.complianceweek.com/regulatory-enforcement/cronos-avoids-fine-in-sec-settlement-over-accounting-errors/32281.article"
},
"reason": "Compliance Week is a reputable source for compliance-related news and information. The article discusses Cronos Group's SEC settlement, providing factual details and analysis.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Cronos avoids fine in SEC settlement over accounting errors.",
"url": "https://www.complianceweek.com/regulatory-enforcement/cronos-avoids-fine-in-sec-settlement-over-accounting-errors/32281.article"
},
{
"content": {
"metadata": {
"ext_id": "9988e87d-8b42-4960-bb30-681176e0b90f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
},
"page_content": "Skip to main content\n\n * [ TSX 0.69 % ](https://www.theglobeandmail.com/investing/markets/indices/TXCX/)\n * [ S&P 500 1.67 % ](https://www.theglobeandmail.com/investing/markets/indices/INX/)\n * [ DOW 1.07 % ](https://www.theglobeandmail.com/investing/markets/indices/DOWI/)\n * [ NASDAQ 2.5 % ](https://www.theglobeandmail.com/investing/markets/indices/NASX/)\n * [ Oil 1.01 % ](https://www.theglobeandmail.com/investing/markets/commodities/CL*0/)\n * [ Dollar 0.19 % ](https://www.theglobeandmail.com/investing/markets/currencies/CADUSD/)\n * [ Gold 1.38 % ](https://www.theglobeandmail.com/investing/markets/commodities/GC*0/)\n * [ tsx movers: ](/investing/markets/stocks/)\n * [ WCP-T -1.84 % ](https://www.theglobeandmail.com/investing/markets/stocks/WCP-T/)\n * [ CNQ-T -0.74 % ](https://www.theglobeandmail.com/investing/markets/stocks/CNQ-T/)\n * [ BTE-T -2.56 % ](https://www.theglobeandmail.com/investing/markets/stocks/BTE-T/)\n * [ BMO-T \\+ 0.44 % ](https://www.theglobeandmail.com/investing/markets/stocks/BMO-T/)\n\nThis section contains press releases and other materials from third parties\n(including paid content). The Globe and Mail has not reviewed this content.\nPlease see [ disclaimer ](https://www.theglobeandmail.com/privacy-\nterms/disclaimer/) .\n\n# Cronos Group Inc. to Hold 2024 Second Quarter Earnings Conference Call on\nAugust 8, 2024\n\nCronos Group Inc. - [ GlobeNewswire ](https://www.globenewswire.com/) \\- Thu\nJul 25, 2024\n\nTORONTO, July 25, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2024 second quarter\nearnings conference call on Thursday, August 8, 2024 at 8:30 a.m. ET. Cronos\u2019\nsenior management team will discuss the Company\u2019s financial results and will\nbe available for questions from the investment community after prepared\nremarks. \n\nTo attend the conference call or webcast, participants should register online\nat [ https://ir.thecronosgroup.com/events-presentations\n](https://ir.thecronosgroup.com/events-presentations) . To avoid delays, we\nencourage participants to dial into the conference call fifteen minutes ahead\nof the scheduled start time. The webcast of the call will be archived for\nreplay on the Company\u2019s website.\n\n**About Cronos \n** Cronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: [ thecronosgroup.com ](https://thecronosgroup.com/) .\n\n**Forward-looking Statements \n** This press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about Cronos\u2019 intention to build an international\niconic brand portfolio and develop disruptive intellectual property. Forward-\nlooking Statements are necessarily based upon a number of estimates and\nassumptions that, while considered reasonable by management, are inherently\nsubject to significant business, economic and competitive risks, financial\nresults, results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q\nfor the quarter ended March 31, 2024, each of which have been filed on SEDAR+\nand EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement.\n\n**Cronos Contact** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\nAll [ market data (will open in new tab)\n](https://www.barchart.com/solutions/data/market) is provided by Barchart\nSolutions. Copyright \u00a9 2025 .\n\nInformation is provided 'as is' and solely for informational purposes, not for\ntrading purposes or advice. For exchange delays and terms of use, please read\n[ disclaimer (will open in new tab)\n](https://www.barchart.com/solutions/company/terms-and-privacy) .\n\n * [ Terms & Conditions ](/privacy-terms/terms-and-conditions/?intcmp=footer)\n * [ Community Guidelines ](/privacy-terms/community-guidelines/?intcmp=footer)\n * [ Privacy Policy ](/privacy-terms/privacy-policy/?intcmp=footer)\n * [ Disclaimer ](/privacy-terms/disclaimer/?intcmp=footer)\n\nSkip footer navigation\n\n * Subscribe \n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n * Business services \n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n * Contact us \n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n * Reader services \n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n * About us \n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\n## Subscribe\n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n## Business services\n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n## Contact us\n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n## Reader services\n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n## About us\n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\nReturn to start of footer navigation\n\n[ ](https://itunes.apple.com/ca/app/the-globe-and-mail-news/id429228415?mt=8)\n[\n](https://play.google.com/store/apps/details?id=com.theglobeandmail.headliner&hl=en)\n\n[ ](https://news.google.com/publications/CAAqBwgKMNLRigEwpPYu) [\n](https://apple.news/T8DrF3Bh5SHCSfJ2qlK1scA) [\n](https://twitter.com/globeandmail) [ ](https://www.linkedin.com/company/the-\nglobe-and-mail/) [ ](https://www.youtube.com/user/TheGlobeandMail) [\n](https://www.tiktok.com/@globeandmail) [\n](https://www.facebook.com/theglobeandmail) [\n](https://instagram.com/globeandmail) [\n](https://story.snapchat.com/p/f9c37a38-b555-4c37-a97a-598423457108)\n\n\u00a9 Copyright 2025 The Globe and Mail Inc. All rights reserved.\n\n351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1\n\nAndrew Saunders, President and CEO\n\n *[\n ON\n ]: Ontario\n\n",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
},
"reason": "This is a press release distributed by The Globe and Mail, announcing Cronos Group's second-quarter earnings conference call. The Globe and Mail is a reputable news source.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Cronos Group Inc. to hold 2024 second-quarter earnings conference call on August 8, 2024.",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
},
{
"content": {
"metadata": {
"ext_id": "7e1df43f-2c9f-42da-b65a-7fd37fbd53ab",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
"page_content": "Menu\n\n[ ](/)\n\n[ Login ](https://app.aikido.dev/login) [ Start Free\n](https://app.aikido.dev/login)\n\n[ Blog ](/blog)\n\n/\n\nCronos Group chooses Aikido Security to strengthen security posture for its\ncompanies and customers\n\n# Cronos Group chooses Aikido Security to strengthen security posture for its\ncompanies and customers\n\nBy\n\nRoeland Delrue\n\n4 min read\n\nNews\n\nAn IT match made in\u00e2\u0080\u00a6 Belgium! Aikido Security, a SaaS startup from Ghent,\nwill provide application security to The Cronos Group, an e-business\nintegrator headquartered in Kontich, with over 5,000 clients across their 570+\ncompanies in the Benelux region. This strategic partnership is set to fortify\nThe Cronos Group\u00e2\u0080\u0099s security posture and Aikido Security\u00e2\u0080\u0099s influence in the\ncybersecurity industry.\n\nCronos Group and Aikido Security partnership\n\n## Stronger security posture with Aikido\n\nThe Cronos Group is now a new Aikido client. In this context, The Cronos Group\nis in the process of implementing Aikido\u00e2\u0080\u0099s security solutions across many of\nits software development companies. Why is this useful for The Cronos Group?\nNot only does it help establish a stronger security posture for each company\nin its network, but it also creates another great advantage. Aikido pulls it\nall together for Cronos, which will gain a more insightful and standardized\nglobal overview of the security posture of these companies than ever before.\n\nBeyond that, Aikido entrusts The Cronos Group to become a true partner as\nwell. In this context, Cronos will be able to provide Aikido to its customers\nso they, too, have the opportunity to benefit from Aikido\u00e2\u0080\u0099s services. On top\nof that, Cronos and Aikido actively work together to further improve the\nproduct features.\n\nAikido\u00e2\u0080\u0099s unique set of security tools and ability to reduce false positives\nwill deliver efficiency to the development teams in The Cronos Group\u00e2\u0080\u0099s\nnetwork of companies and customers. This means less disruption from\nunnecessary alerts leading to more focus on writing code. The Cronos Group\naims to help companies find creative, high-quality, and profitable ways to\nmake the most of potential new technologies. Therefore, this partnership\naligns perfectly with its mission.\n\nAikido pulls it all together in a dedicated \u00e2\u0080\u009cSecurity Partner Portal\u00e2\u0080\u009d.\nThrough this partner portal, The Cronos Group is able to gain a more\ninsightful and standardized global overview of the security posture of their\ncompanies than ever before.\n\nAn example product visual of Aikido\u00e2\u0080\u0099s Partner Portal\n\n## The Cronos Group and Aikido comment on their partnership\n\nThe Cronos Group can\u00e2\u0080\u0099t wait to get started with Aikido.\n\n> The Cronos Group has always been supporting innovation and entrepreneurship,\n> including cyber security. We\u00e2\u0080\u0099re always on the lookout for partners to\n> strengthen our alliances. Through Aikido, we want to enable our developers\n> and clients to build in security from the first line of code. By combining\n> automation with intelligence, they can focus on the business value while\n> safeguarding their own scarce time and keeping the exposure to a minimum. \n> Jonas Buyle, Cronos Security\n\nMeanwhile, what benefits does this new partnership bring to Aikido? \"We're\nthrilled to welcome The Cronos Group to the Aikido Security family,\u00e2\u0080\u009d\nexplains Aikido cofounder and CEO, Willem Delbare. \u00e2\u0080\u009cAs both a customer and a\nreseller, The Cronos Group represents a key partnership in our mission to make\nmanaging your security posture simple. Our collaboration promises to provide\nunparalleled insights into the security posture of the portfolio of companies\nwithin The Cronos Group. Together, we aspire to elevate the standards of\napplication security across the board.\"\n\n## About Aikido Security\n\n[ Aikido Security ](https://www.aikido.dev/) is a developer-first software\nsecurity platform. We scan your source code & cloud to show you which\nvulnerabilities are actually important to solve. Triaging is sped up by\nmassively reducing false positives and making CVEs human-readable. Aikido\nmakes it simple to strengthen your security posture to keep your product\nsecure. And, it gives you back time to do what you do best: writing code.\n\n## About The Cronos Group\n\n[ The Cronos Group ](https://cronos-groep.be/en/) is an e-business integrator\ndelivering high-quality ICT solutions to enterprises and government entities\nin the Benelux region. The Cronos Group was founded by and for ICT\ntechnologists with the goal of helping them grow their careers and\nentrepreneurship. This mission expanded to include creative professionals in\norder to jointly design and implement creative and technologically leading\nsolutions for its customers. Since its inception in 1991, The Cronos Group\nexpanded from a one-person operation to a group of companies employing over\n9000 professionals across 570+ companies. \n\nWritten by Roeland Delrue\n\n[ ](https://www.linkedin.com/in/roelanddelrue/)\n\nCo-founder / COO & CRO\n\nShare:\n\nhttps://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture\n\nTable of contents:\n\nText Link\n\nShare:\n\nUse keyboard\n\nto navigate through articles\n\n[ ](/blog/xrp-supplychain-attack-official-npm-package-infected-with-crypto-\nstealing-backdoor)\n\nBy\n\nCharlie Eriksen\n\n## [ XRP supply chain attack: Official NPM package infected with crypto\nstealing backdoor ](/blog/xrp-supplychain-attack-official-npm-package-\ninfected-with-crypto-stealing-backdoor)\n\nApril 22, 2025\n\n[ Read more ](/blog/xrp-supplychain-attack-official-npm-package-infected-\nwith-crypto-stealing-backdoor)\n\n[ ](/blog/the-malware-dating-guide-understanding-the-types-of-malware-on-npm)\n\nBy\n\nCharlie Eriksen\n\n## [ The malware dating guide: Understanding the types of malware on NPM\n](/blog/the-malware-dating-guide-understanding-the-types-of-malware-on-npm)\n\nMalware\n\nApril 10, 2025\n\n[ Read more ](/blog/the-malware-dating-guide-understanding-the-types-of-\nmalware-on-npm)\n\n[ ](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\nBy\n\nCharlie Eriksen\n\n## [ Hide and Fail: Obfuscated Malware, Empty Payloads, and npm Shenanigans\n](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\nMalware\n\nApril 3, 2025\n\n[ Read more ](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\n[ ](/blog/launching-aikido-malware---open-source-threat-feed)\n\nBy\n\nMadeline Lawrence\n\n## [ Launching Aikido Malware \u00e2\u0080\u0093 Open Source Threat Feed ](/blog/launching-\naikido-malware---open-source-threat-feed)\n\nNews\n\nMarch 31, 2025\n\n[ Read more ](/blog/launching-aikido-malware---open-source-threat-feed)\n\n[ ](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-hackers)\n\nBy\n\nCharlie Eriksen\n\n## [ Malware hiding in plain sight: Spying on North Korean Hackers\n](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-hackers)\n\nMarch 31, 2025\n\n[ Read more ](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-\nhackers)\n\n[ ](/blog/get-the-tl-dr-tj-actions-changed-files-supply-chain-attack)\n\nBy\n\nMadeline Lawrence\n\n## [ Get the TL;DR: tj-actions/changed-files Supply Chain Attack ](/blog/get-\nthe-tl-dr-tj-actions-changed-files-supply-chain-attack)\n\nNews\n\nMarch 16, 2025\n\n[ Read more ](/blog/get-the-tl-dr-tj-actions-changed-files-supply-chain-\nattack)\n\n[ ](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-minded-\ndeveloper)\n\nBy\n\nMackenzie Jackson\n\n## [ A no-BS Docker security checklist for the vulnerability-minded developer\n](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-minded-\ndeveloper)\n\nGuides\n\nMarch 6, 2025\n\n[ Read more ](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-\nminded-developer)\n\n[ ](/blog/sensing-and-blocking-javascript-sql-injection-attacks-aikido-\nfirewall)\n\nBy\n\nMackenzie Jackson\n\n## [ Sensing and blocking JavaScript SQL injection attacks ](/blog/sensing-\nand-blocking-javascript-sql-injection-attacks-aikido-firewall)\n\nGuides\n\nMarch 4, 2025\n\n[ Read more ](/blog/sensing-and-blocking-javascript-sql-injection-attacks-\naikido-firewall)\n\n[ ](/blog/prisma-and-postgresql-vulnerable-to-nosql-injection)\n\nBy\n\nFloris Van den Abeele\n\n## [ Prisma and PostgreSQL vulnerable to NoSQL injection? A surprising\nsecurity risk explained ](/blog/prisma-and-postgresql-vulnerable-to-nosql-\ninjection)\n\nEngineering\n\nFebruary 14, 2025\n\n[ Read more ](/blog/prisma-and-postgresql-vulnerable-to-nosql-injection)\n\n[ ](/blog/launching-opengrep-why-we-forked-semgrep)\n\nBy\n\nWillem Delbare\n\n## [ Launching Opengrep | Why we forked Semgrep ](/blog/launching-opengrep-why-we-forked-semgrep)\n\nNews\n\nJanuary 24, 2025\n\n[ Read more ](/blog/launching-opengrep-why-we-forked-semgrep)\n\n[ ](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nBy\n\nThomas Segura\n\n## [ Your Client Requires NIS2 Vulnerability Patching. Now What?\n](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nJanuary 14, 2025\n\n[ Read more ](/blog/your-client-requires-nis2-vulnerability-patching-now-\nwhat)\n\n[ ](/blog/top-10-ai-powered-sast-tools-in-2025)\n\nBy\n\nMackenzie Jackson\n\n## [ Top 10 AI-powered SAST tools in 2025 ](/blog/top-10-ai-powered-sast-\ntools-in-2025)\n\nGuides\n\nJanuary 10, 2025\n\n[ Read more ](/blog/top-10-ai-powered-sast-tools-in-2025)\n\n[ ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\nBy\n\nMadeline Lawrence\n\n## [ Snyk vs Aikido Security | G2 Reviews Snyk Alternative ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\nGuides\n\nJanuary 10, 2025\n\n[ Read more ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\n[ ](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\nBy\n\nMackenzie Jackson\n\n## [ Top 10 Software Composition Analysis (SCA) tools in 2025\n](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\nGuides\n\nJanuary 9, 2025\n\n[ Read more ](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\n[ ](/blog/3-key-steps-to-strengthen-compliance-and-risk-management)\n\nBy\n\nMichiel Denis\n\n## [ 3 Key Steps to Strengthen Compliance and Risk Management ](/blog/3-key-\nsteps-to-strengthen-compliance-and-risk-management)\n\nDecember 27, 2024\n\n[ Read more ](/blog/3-key-steps-to-strengthen-compliance-and-risk-management)\n\n[ ](/blog/the-start-ups-open-source-guide-to-application-security)\n\nBy\n\nMackenzie Jackson\n\n## [ The Startup's Open-Source Guide to Application Security ](/blog/the-\nstart-ups-open-source-guide-to-application-security)\n\nGuides\n\nDecember 23, 2024\n\n[ Read more ](/blog/the-start-ups-open-source-guide-to-application-security)\n\n[ ](/blog/launching-aikido-for-cursor-ai)\n\nBy\n\nMadeline Lawrence\n\n## [ Launching Aikido for Cursor AI ](/blog/launching-aikido-for-cursor-ai)\n\nEngineering\n\nDecember 13, 2024\n\n[ Read more ](/blog/launching-aikido-for-cursor-ai)\n\n[ ](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-llms)\n\nBy\n\nMackenzie Jackson\n\n## [ Meet Intel: Aikido\u00e2\u0080\u0099s Open Source threat feed powered by LLMs.\n](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-llms)\n\nEngineering\n\nDecember 13, 2024\n\n[ Read more ](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-\nllms)\n\n[ ](/blog/aikido-joins-the-aws-partner-network)\n\nBy\n\nJohan De Keulenaer\n\n## [ Aikido joins the AWS Partner Network ](/blog/aikido-joins-the-aws-\npartner-network)\n\nNews\n\nNovember 26, 2024\n\n[ Read more ](/blog/aikido-joins-the-aws-partner-network)\n\n[ ](/blog/command-injection-in-2024-unpacked)\n\nBy\n\nMackenzie Jackson\n\n## [ Command injection in 2024 unpacked ](/blog/command-injection-\nin-2024-unpacked)\n\nEngineering\n\nNovember 24, 2024\n\n[ Read more ](/blog/command-injection-in-2024-unpacked)\n\n[ ](/blog/path-traversal-in-2024-the-year-unpacked)\n\nBy\n\nMackenzie Jackson\n\n## [ Path Traversal in 2024 - The year unpacked ](/blog/path-traversal-\nin-2024-the-year-unpacked)\n\nEngineering\n\nNovember 23, 2024\n\n[ Read more ](/blog/path-traversal-in-2024-the-year-unpacked)\n\n[ ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-commercial-\nsolutions)\n\nBy\n\nMackenzie Jackson\n\n## [ Balancing Security: When to Leverage Open-Source Tools vs. Commercial\nTools ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-\ncommercial-solutions)\n\nGuides\n\nNovember 15, 2024\n\n[ Read more ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-\ncommercial-solutions)\n\n[ ](/blog/the-state-of-sql-injections)\n\nBy\n\nMackenzie Jackson\n\n## [ The State of SQL Injection ](/blog/the-state-of-sql-injections)\n\nGuides\n\nNovember 8, 2024\n\n[ Read more ](/blog/the-state-of-sql-injections)\n\n[ ](/blog/vismas-security-boost-with-aikido-a-conversation-with-nikolai-\nbrogaard)\n\nBy\n\nMichiel Denis\n\n## [ Visma\u00e2\u0080\u0099s Security Boost with Aikido: A Conversation with Nikolai\nBrogaard ](/blog/vismas-security-boost-with-aikido-a-conversation-with-\nnikolai-brogaard)\n\nNews\n\nNovember 6, 2024\n\n[ Read more ](/blog/vismas-security-boost-with-aikido-a-conversation-with-\nnikolai-brogaard)\n\n[ ](/blog/security-in-fintech)\n\nBy\n\nMichiel Denis\n\n## [ Security in FinTech: Q&A with Dan Kindler, co-founder & CTO of Bound\n](/blog/security-in-fintech)\n\nNews\n\nOctober 10, 2024\n\n[ Read more ](/blog/security-in-fintech)\n\n[ ](/blog/top-7-aspm-tools)\n\nBy\n\nFelix Garriau\n\n## [ Top 7 ASPM Tools in 2025 ](/blog/top-7-aspm-tools)\n\nGuides\n\nOctober 1, 2024\n\n[ Read more ](/blog/top-7-aspm-tools)\n\n[ ](/blog/sprinto-partnership)\n\nBy\n\nMadeline Lawrence\n\n## [ Automate compliance with SprintoGRC x Aikido ](/blog/sprinto-\npartnership)\n\nNews\n\nSeptember 11, 2024\n\n[ Read more ](/blog/sprinto-partnership)\n\n[ ](/blog/how-to-generate-an-sbom-for-an-audit)\n\nBy\n\nFelix Garriau\n\n## [ How to Create an SBOM for Software Audits ](/blog/how-to-generate-an-\nsbom-for-an-audit)\n\nGuides\n\nSeptember 9, 2024\n\n[ Read more ](/blog/how-to-generate-an-sbom-for-an-audit)\n\n[ ](/blog/sast-vs-dast-what-you-need-to-now)\n\nBy\n\nMadeline Lawrence\n\n## [ SAST vs DAST: What you need to know. ](/blog/sast-vs-dast-what-you-need-\nto-now)\n\nGuides\n\nSeptember 2, 2024\n\n[ Read more ](/blog/sast-vs-dast-what-you-need-to-now)\n\n[ ](/blog/best-sbom-generation-tools)\n\nBy\n\nFelix Garriau\n\n## [ Best SBOM Tools for Developers: Our 2025 Picks ](/blog/best-sbom-\ngeneration-tools)\n\nGuides\n\nAugust 7, 2024\n\n[ Read more ](/blog/best-sbom-generation-tools)\n\n[ ](/blog/5-snyk-alternatives-and-why-they-are-better)\n\nBy\n\nLieven Oosterlinck\n\n## [ 5 Snyk Alternatives and Why They Are Better ](/blog/5-snyk-alternatives-\nand-why-they-are-better)\n\nNews\n\nAugust 5, 2024\n\n[ Read more ](/blog/5-snyk-alternatives-and-why-they-are-better)\n\n[ ](/blog/why-were-stoked-to-partner-with-laravel)\n\nBy\n\nMadeline Lawrence\n\n## [ Why we\u00e2\u0080\u0099re stoked to partner with Laravel ](/blog/why-were-stoked-to-\npartner-with-laravel)\n\nNews\n\nJuly 8, 2024\n\n[ Read more ](/blog/why-were-stoked-to-partner-with-laravel)\n\n[ ](/blog/110000-sites-affected-by-the-polyfill-supply-chain-attack)\n\nBy\n\nFelix Garriau\n\n## [ 110,000 sites affected by the Polyfill supply chain attack\n](/blog/110000-sites-affected-by-the-polyfill-supply-chain-attack)\n\nNews\n\nJune 27, 2024\n\n[ Read more ](/blog/110000-sites-affected-by-the-polyfill-supply-chain-\nattack)\n\n[ ](/blog/cybersecurity-essentials-for-legaltech-companies)\n\nBy\n\nFelix Garriau\n\n## [ Cybersecurity Essentials for LegalTech Companies ](/blog/cybersecurity-\nessentials-for-legaltech-companies)\n\nNews\n\nJune 25, 2024\n\n[ Read more ](/blog/cybersecurity-essentials-for-legaltech-companies)\n\n[ ](/blog/drata-aikido-integration-automates-vulnerability-management)\n\nBy\n\nRoeland Delrue\n\n## [ Drata Integration - How to Automate Technical Vulnerability Management\n](/blog/drata-aikido-integration-automates-vulnerability-management)\n\nGuides\n\nJune 18, 2024\n\n[ Read more ](/blog/drata-aikido-integration-automates-vulnerability-\nmanagement)\n\n[ ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-security-\ntoolkit)\n\nBy\n\nJoel Hans\n\n## [ DIY guide: \u00e2\u0080\u0098Build vs buy\u00e2\u0080\u0099 your OSS code scanning and app security\ntoolkit ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-\nsecurity-toolkit)\n\nGuides\n\nJune 11, 2024\n\n[ Read more ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-\nsecurity-toolkit)\n\n[ ](/blog/soc-2-certification-tips)\n\nBy\n\nRoeland Delrue\n\n## [ SOC 2 certification: 5 things we learned ](/blog/soc-2-certification-\ntips)\n\nGuides\n\nJune 4, 2024\n\n[ Read more ](/blog/soc-2-certification-tips)\n\n[ ](/blog/app-security-problems-top-10)\n\nBy\n\nJoel Hans\n\n## [ Top 10 app security problems and how to protect yourself ](/blog/app-\nsecurity-problems-top-10)\n\nGuides\n\nMay 28, 2024\n\n[ Read more ](/blog/app-security-problems-top-10)\n\n[ ](/blog/we-just-raised-our-17-million-series-a)\n\nBy\n\nMadeline Lawrence\n\n## [ We just raised our $17 million Series A ](/blog/we-just-raised-\nour-17-million-series-a)\n\nNews\n\nMay 2, 2024\n\n[ Read more ](/blog/we-just-raised-our-17-million-series-a)\n\n[ ](/blog/best-rasp-tools)\n\nBy\n\n## [ Best RASP Tools for Developers in 2025 ](/blog/best-rasp-tools)\n\nApril 10, 2024\n\n[ Read more ](/blog/best-rasp-tools)\n\n[ ](/blog/webhook-security-checklist)\n\nBy\n\nWillem Delbare\n\n## [ Webhook security checklist: How to build secure webhooks\n](/blog/webhook-security-checklist)\n\nGuides\n\nApril 4, 2024\n\n[ Read more ](/blog/webhook-security-checklist)\n\n[ ](/blog/the-cure-for-security-alert-fatigue-syndrome)\n\nBy\n\nWillem Delbare\n\n## [ The Cure For Security Alert Fatigue Syndrome ](/blog/the-cure-for-\nsecurity-alert-fatigue-syndrome)\n\nEngineering\n\nFebruary 21, 2024\n\n[ Read more ](/blog/the-cure-for-security-alert-fatigue-syndrome)\n\n[ ](/blog/nis2-who-is-affected)\n\nBy\n\nRoeland Delrue\n\n## [ NIS2: Who is affected? ](/blog/nis2-who-is-affected)\n\nGuides\n\nJanuary 16, 2024\n\n[ Read more ](/blog/nis2-who-is-affected)\n\n[ ](/blog/iso-27001-certification-top-tips)\n\nBy\n\nRoeland Delrue\n\n## [ ISO 27001 certification: 8 things we learned\n](/blog/iso-27001-certification-top-tips)\n\nGuides\n\nDecember 5, 2023\n\n[ Read more ](/blog/iso-27001-certification-top-tips)\n\n[ ](/blog/loctax-eliminates-false-positives)\n\nBy\n\nBart Jonckheere\n\n## [ How Loctax uses Aikido Security to get rid of irrelevant security alerts\n& false positives ](/blog/loctax-eliminates-false-positives)\n\nNews\n\nNovember 22, 2023\n\n[ Read more ](/blog/loctax-eliminates-false-positives)\n\n[ ](/blog/aikido-security-raises-eur5m-to-offer-a-seamless-security-solution-\nto-growing-saas-businesses)\n\nBy\n\nFelix Garriau\n\n## [ Aikido Security raises \u00e2\u0082\u00ac5m to offer a seamless security solution to\ngrowing SaaS businesses ](/blog/aikido-security-raises-eur5m-to-offer-a-\nseamless-security-solution-to-growing-saas-businesses)\n\nNews\n\nNovember 9, 2023\n\n[ Read more ](/blog/aikido-security-raises-eur5m-to-offer-a-seamless-\nsecurity-solution-to-growing-saas-businesses)\n\n[ ](/blog/aikido-security-achieves-iso-270012022-compliance)\n\nBy\n\nRoeland Delrue\n\n## [ Aikido Security achieves ISO 27001:2022 compliance ](/blog/aikido-\nsecurity-achieves-iso-270012022-compliance)\n\nNews\n\nNovember 8, 2023\n\n[ Read more ](/blog/aikido-security-achieves-iso-270012022-compliance)\n\n[ ](/blog/aikido-improves-startup-security-posture-storychief)\n\nBy\n\nFelix Garriau\n\n## [ How StoryChief\u00e2\u0080\u0099s CTO uses Aikido Security to sleep better at night\n](/blog/aikido-improves-startup-security-posture-storychief)\n\nNews\n\nOctober 24, 2023\n\n[ Read more ](/blog/aikido-improves-startup-security-posture-storychief)\n\n[ ](/blog/what-is-a-cve)\n\nBy\n\nWillem Delbare\n\n## [ What is a CVE? ](/blog/what-is-a-cve)\n\nGuides\n\nOctober 17, 2023\n\n[ Read more ](/blog/what-is-a-cve)\n\n[ ](/blog/best-end-of-life-detection-tools)\n\nBy\n\nFelix Garriau\n\n## [ Best Tools for End-of-Life Detection: 2025 Rankings ](/blog/best-end-of-\nlife-detection-tools)\n\nGuides\n\nOctober 4, 2023\n\n[ Read more ](/blog/best-end-of-life-detection-tools)\n\n[ ](/blog/web-application-security-vulnerabilities)\n\nBy\n\nWillem Delbare\n\n## [ Top 3 web application security vulnerabilities in 2024 ](/blog/web-\napplication-security-vulnerabilities)\n\nEngineering\n\nSeptember 27, 2023\n\n[ Read more ](/blog/web-application-security-vulnerabilities)\n\n[ ](/blog/new-aikido-security-features-august-2023)\n\nBy\n\nFelix Garriau\n\n## [ New Aikido Security Features: August 2023 ](/blog/new-aikido-security-\nfeatures-august-2023)\n\nNews\n\nAugust 22, 2023\n\n[ Read more ](/blog/new-aikido-security-features-august-2023)\n\n[ ](/blog/saas-cto-security-checklist)\n\nBy\n\nFelix Garriau\n\n## [ Aikido\u00e2\u0080\u0099s 2025 SaaS CTO Security Checklist ](/blog/saas-cto-security-\nchecklist)\n\nNews\n\nAugust 10, 2023\n\n[ Read more ](/blog/saas-cto-security-checklist)\n\n[ ](/blog/saas-cto-security-checklist-old)\n\nBy\n\nFelix Garriau\n\n## [ Aikido\u00e2\u0080\u0099s 2024 SaaS CTO Security Checklist ](/blog/saas-cto-security-\nchecklist-old)\n\nNews\n\nAugust 10, 2023\n\n[ Read more ](/blog/saas-cto-security-checklist-old)\n\n[ ](/blog/cloud-code-security-cto-consultation)\n\nBy\n\nFelix Garriau\n\n## [ 15 Top Cloud and Code Security Challenges Revealed by CTOs\n](/blog/cloud-code-security-cto-consultation)\n\nEngineering\n\nJuly 25, 2023\n\n[ Read more ](/blog/cloud-code-security-cto-consultation)\n\n[ ](/blog/what-is-owasp-top-10)\n\nBy\n\nWillem Delbare\n\n## [ What is OWASP Top 10? ](/blog/what-is-owasp-top-10)\n\nGuides\n\nJuly 12, 2023\n\n[ Read more ](/blog/what-is-owasp-top-10)\n\n[ ](/blog/build-secure-admin-panel)\n\nBy\n\nWillem Delbare\n\n## [ How to build a secure admin panel for your SaaS app ](/blog/build-\nsecure-admin-panel)\n\nGuides\n\nJuly 11, 2023\n\n[ Read more ](/blog/build-secure-admin-panel)\n\n[ ](/blog/iso-270012022-preparation)\n\nBy\n\nRoeland Delrue\n\n## [ How to prepare yourself for ISO 27001:2022\n](/blog/iso-270012022-preparation)\n\nGuides\n\nJuly 5, 2023\n\n[ Read more ](/blog/iso-270012022-preparation)\n\n[ ](/blog/prevent-fallout-when-cicd-platform-hacked)\n\nBy\n\nWillem Delbare\n\n## [ Preventing fallout from your CI/CD platform being hacked\n](/blog/prevent-fallout-when-cicd-platform-hacked)\n\nGuides\n\nJune 19, 2023\n\n[ Read more ](/blog/prevent-fallout-when-cicd-platform-hacked)\n\n[ ](/blog/security-assessment-report-closes-deals-faster)\n\nBy\n\nFelix Garriau\n\n## [ How to Close Deals Faster with a Security Assessment Report\n](/blog/security-assessment-report-closes-deals-faster)\n\nNews\n\nJune 12, 2023\n\n[ Read more ](/blog/security-assessment-report-closes-deals-faster)\n\n[ ](/blog/a-guide-to-automating-technical-vulnerability-management-for-soc-2)\n\nBy\n\nWillem Delbare\n\n## [ Automate Technical Vulnerability Management [SOC 2] ](/blog/a-guide-to-\nautomating-technical-vulnerability-management-for-soc-2)\n\nGuides\n\nJune 5, 2023\n\n[ Read more ](/blog/a-guide-to-automating-technical-vulnerability-management-\nfor-soc-2)\n\n[ ](/blog/prevent-prototype-pollution)\n\nBy\n\nWillem Delbare\n\n## [ Preventing prototype pollution in your repository ](/blog/prevent-\nprototype-pollution)\n\nGuides\n\nJune 1, 2023\n\n[ Read more ](/blog/prevent-prototype-pollution)\n\n[ ](/blog/how-does-a-saas-startup-cto-balance-development-speed-and-security)\n\nBy\n\nWillem Delbare\n\n## [ How does a SaaS startup CTO balance development speed and security?\n](/blog/how-does-a-saas-startup-cto-balance-development-speed-and-security)\n\nGuides\n\nMay 16, 2023\n\n[ Read more ](/blog/how-does-a-saas-startup-cto-balance-development-speed-\nand-security)\n\n[ ](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-that-sends-an-\nemail)\n\nBy\n\nWillem Delbare\n\n## [ How a startup\u00e2\u0080\u0099s cloud got taken over by a simple form that sends emails\n](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-that-sends-an-\nemail)\n\nEngineering\n\nApril 10, 2023\n\n[ Read more ](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-\nthat-sends-an-email)\n\n[ ](/blog/aikido-security-raises-eur2-million-pre-seed-round-to-build-a-\ndeveloper-first-software-security-platform)\n\nBy\n\nFelix Garriau\n\n## [ Aikido Security raises \u00e2\u0082\u00ac2 million pre-seed round to build a developer-\nfirst software security platform ](/blog/aikido-security-raises-eur2-million-\npre-seed-round-to-build-a-developer-first-software-security-platform)\n\nNews\n\nJanuary 19, 2023\n\n[ Read more ](/blog/aikido-security-raises-eur2-million-pre-seed-round-to-\nbuild-a-developer-first-software-security-platform)\n\n[ ](/blog/why-we-need-lockfiles-to-secure-our-supply-chain)\n\nBy\n\n## [ Why Lockfiles Matter for Supply Chain Security ](/blog/why-we-need-\nlockfiles-to-secure-our-supply-chain)\n\n[ Read more ](/blog/why-we-need-lockfiles-to-secure-our-supply-chain)\n\n[ ](/blog/xrp-supplychain-attack-official-npm-package-infected-with-crypto-\nstealing-backdoor)\n\nBy\n\nCharlie Eriksen\n\n### [ XRP supply chain attack: Official NPM package infected with crypto\nstealing backdoor ](/blog/xrp-supplychain-attack-official-npm-package-\ninfected-with-crypto-stealing-backdoor)\n\nMarch 31, 2025\n\n[ ](/blog/best-end-of-life-detection-tools)\n\nBy\n\nFelix Garriau\n\n### [ Best Tools for End-of-Life Detection: 2025 Rankings ](/blog/best-end-\nof-life-detection-tools)\n\nGuides\n\nMarch 18, 2025\n\n[ ](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nBy\n\nThomas Segura\n\n### [ Your Client Requires NIS2 Vulnerability Patching. Now What?\n](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nFebruary 11, 2025\n\n## Get secure in 32 seconds\n\nConnect your GitHub, GitLab, Bitbucket or Azure DevOps account to start\nscanning your repos for free.\n\n[ Start for Free ](https://app.aikido.dev/login)\n\nYour data won't be shared \u00c2\u00b7 Read-only access\n\n[ ](/)\n\nCompany\n\n[ Product ](/product) [ Pricing ](/pricing) [ About ](/about) [ Careers\n](/careers) [ Contact ](/contact) [ Partner with us ](/partner)\n\nResources\n\n[ Docs ](https://help.aikido.dev/doc/overview-aikido-docs/docCpLHBMatZ) [\nPublic API Docs ](https://apidocs.aikido.dev/) [ Vulnerability Database\n](https://security.aikido.dev/) [ Blog ](/blog) [ Integrations\n](https://integrations.aikido.dev/) [ Glossary ](/glossary) [ Press Kit\n](/press-kit) [ Customer Reviews ](/wall-of-love)\n\nSecurity\n\n[ Trust Center ](/trust-center) [ Security Overview\n](https://trustcenter.aikido.dev/) Change Cookie Preferences\n\nLegal\n\n[ Privacy Policy ](https://www.aikido.dev/policies/privacy) [ Cookie Policy\n](https://www.aikido.dev/policies/cookies) [ Terms of Use\n](https://www.aikido.dev/policies/terms) [ Master Subscription Agreement\n](/aikido-security-bv-msa) [ Data Processing Agreement ](/aikido-security-bv-\ndpa)\n\nUse Cases\n\n[ Compliance ](/use-cases/soc2-iso-compliance) [ SAST & DAST ](/use-\ncases/sast-dast) [ ASPM ](/use-cases/application-security-posture-management-\naspm) [ Vulnerability Management ](/use-cases/vulnerability-management) [\nGenerate SBOMs ](/use-cases/sbom-generator-create-software-bill-of-materials)\n[ WordPress Security ](/use-cases/wordpress-security) [ Secure Your Code\n](/use-cases/secure-your-source-code)\n\nIndustries\n\n[ For HealthTech ](/industries/healthtech) [ For MedTech\n](/industries/medtech) [ For FinTech ](/industries/aikido-for-fintech) [ For\nSecurityTech ](/industries/security-tech) [ For LegalTech\n](/industries/aikido-for-legaltech) [ For HRTech ](/industries/aikido-for-\nhrtech) [ For Agencies ](/industries/aikido-for-agencies) [ For Enterprise\n](/industries/aikido-for-enterprise) [ For PE & Group Companies\n](/industries/pe-group-companies)\n\nCompare\n\n[ vs All Vendors ](/comparison/comparison-overview) [ vs Snyk\n](/comparison/snyk-alternative) [ vs Wiz ](/comparison/wiz-alternative) [ vs\nMend ](/comparison/mend-alternative) [ vs Orca Security ](/comparison/orca-\nsecurity-alternative) [ vs Veracode ](/comparison/veracode-alternative) [ vs\nGitHub Advanced Security ](/comparison/github-advanced-security-alternative) [\nvs GitLab Ultimate ](/comparison/gitlab-ultimate-alternative) [ vs Checkmarx\n](/comparison/checkmarx) [ vs Semgrep ](/comparison/semgrep) [ vs SonarQube\n](/comparison/aikido-vs-sonarqube)\n\nConnect\n\n[ hello@aikido.dev ](mailto:hello@aikido.dev)\n\n[ LinkedIn ](https://www.linkedin.com/company/aikido-security/) [ X\n](https://twitter.com/AikidoSecurity)\n\nSubscribe\n\nStay up to date with all updates\n\n\u00f0\u009f\u0091\u008b\u00f0\u009f\u008f\u00bb Thank you! You\u00e2\u0080\u0099ve been subscribed.\n\nTeam Aikido\n\nNot quite there yet.\n\n\u00c2\u00a9 2025 Aikido Security BV | BE0792914919 \n\u00f0\u009f\u0087\u00aa\u00f0\u009f\u0087\u00ba Registered address: Coupure Rechts 88, 9000, Ghent, Belgium \n\u00f0\u009f\u0087\u00aa\u00f0\u009f\u0087\u00ba Office address: Gebroeders van Eyckstraat 2, 9000, Ghent, Belgium \n\u00f0\u009f\u0087\u00ba\u00f0\u009f\u0087\u00b8 Office address: 95 Third St, 2nd Fl, San Francisco, CA 94103, US\n\n[ SOC 2 Compliant ISO 27001 Compliant ](/trust-center)\n\n",
"url": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
"reason": "This is a blog post from Aikido, a security company, discussing how they strengthened Cronos Group's security posture. It provides specific details about their work with Cronos Group.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Aikido strengthens Cronos Group security posture.",
"url": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
{
"content": {
"metadata": {
"ext_id": "1eefe2a7-341c-4d82-b388-2369787f195f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.osc.ca/en/news-events/news/cronos-group-inc-pay-more-1-million-accounting-and-control-failures"
},
"page_content": "Skip to content\n\n# Cronos Group Inc. to pay more than $1 million for accounting and control\nfailures\n\n## For Immediate Release [ OSC ](/en/news-events/news-\nreleases?category%5B5036%5D=5036) [ Enforcement ](/en/news-events/news-\nreleases?category%5B7526%5D=7526)\n\nOctober 24, 2022\n\n**TORONTO \u2013** A panel of the Capital Markets Tribunal today approved a [\nsettlement agreement\n](https://www.capitalmarketstribunal.ca/en/notices/notice-cronos-group-inc-\nand-william-hilson-file-no-2022-23-0) between the OSC and Cronos Group Inc.\n(Cronos) regarding accounting errors that led to two restatements of its\ninterim financial statements. A separate [ settlement agreement\n](https://www.capitalmarketstribunal.ca/en/notices/notice-cronos-group-inc-\nand-william-hilson-file-no-2022-23-0) was also approved between the OSC and\nWilliam Hilson, Cronos\u2019 former Chief Financial Officer and Chief Commercial\nOfficer, for his role in one of the company\u2019s cannabis wholesale transactions.\n\nThe OSC acknowledges the assistance provided in its investigation by the U.S.\nSecurities and Exchange Commission (SEC), which announced today it settled\ncharges against Cronos and Hilson.\n\nCronos improperly recognized $7.6 million in revenue in its Q1, Q2 and Q3 2019\ninterim financial statements regarding three wholesale cannabis transactions.\nThe company also overstated virtually all of its U.S. goodwill and a\nsignificant portion of its U.S. intangible assets by a collective amount of\n$234.9 million in its Q2 2021 interim financial statements. As a result of\nthese accounting errors, the company restated its Q1, Q2 and Q3 2019 interim\nfinancial statements, and its Q2 2021 interim financial statements. In both\ninstances, Cronos reported related material weaknesses in internal control\nover financial reporting (ICFR).\n\n\u201cAs the industry continues to grow, it is imperative that investors receive\naccurate information about the financial performance of public cannabis\ncompanies to support informed investment decisions in this nascent sector,\u201d\nsaid Jeff Kehoe, Director of Enforcement at the OSC. \u201cThe settlements\nannounced today hold Cronos and Mr. Hilson accountable for their failures and\nserve as another excellent example of the OSC working across international\nborders to protect Ontario\u2019s capital markets.\n\nAs part of its settlement with the OSC, Cronos admits that it failed to file\ninterim financial statements prepared in accordance with applicable generally\naccepted accounting principles. Additionally, the company has paid an\nadministrative penalty of $1.3 million, and a further $40,000 towards the cost\nof the OSC\u2019s investigation. Cronos will also pay for an independent\nconsultant, acceptable to the OSC, to review its internal controls and ICFR.\n\nThe terms of the settlement reflect Cronos\u2019 full cooperation with the OSC and\nthe timely, proactive, and comprehensive measures it took to remediate its\nconduct.\n\nIn 2019, while Hilson was Cronos\u2019 Chief Commercial Officer, he was involved in\none of the wholesale transactions in which Cronos improperly recognized $3\nmillion in revenue. In settling this matter, Hilson admits that he failed to\ntake appropriate steps to address the handling of revenue recognition issues\nfor this transaction by Cronos, and that his conduct was contrary to the\npublic interest.\n\nHilson will be subject to a one-year ban from acting as a director or officer\nof any reporting issuer. Hilson also agreed to make a voluntary payment of\n$50,000 to the OSC and pay a further $20,000 towards the cost of the OSC\u2019s\ninvestigation. The settlement reflects that Hilson reached a timely resolution\nof the matter, which saved resources for both the OSC and the Capital Markets\nTribunal.\n\nThe mandate of the OSC is to provide protection to investors from unfair,\nimproper or fraudulent practices, to foster fair, efficient and competitive\ncapital markets and confidence in the capital markets, to foster capital\nformation, and to contribute to the stability of the financial system and the\nreduction of systemic risk. Investors are urged to check the registration of\nany persons or company offering an investment opportunity and to review the\nOSC investor materials available at [ https://www.osc.ca ](/) .\n\n\u2013 30 \u2013\n\n## For Media Inquiries:\n\n[ [email protected] ](/cdn-cgi/l/email-\nprotection#6b060e0f020a3402051a1e0219020e182b041808450c041d45040545080a)\n\n## For Investor and Industry Inquiries:\n\n1-877-785-1555 (Toll Free) \n[ [email protected] ](/cdn-cgi/l/email-\nprotection#650c0b14100c170c0016250a16064b020a134b0a0b4b0604)\n\nFollow us on [ Twitter ](https://twitter.com/OSC_News) \nFollow us on [ LinkedIn ](https://www.linkedin.com/company/ontario-securities-\ncommission)\n\n * [ Fran\u00e7ais ](/fr/nouvelles-evenements/nouvelles/le-cronos-group-inc-paiera-plus-dun-million-de-dollars-en-raison-de-ses-problemes-comptables-et-de)\n\n### Your feedback matters\n\n[ Subscribe to our updates ](/en/news-events/subscribe)\n\n## Connect with us:\n\n * [ ](https://www.x.com/OSC_News \"Follow us on Twitter\")\n * [ ](https://www.linkedin.com/company/ontario-securities-commission \"Follow us on Linkedin\")\n * [ ](https://www.youtube.com/user/OntarioSecurities \"Follow us on Youtube\")\n * [ ](/en/news-events/connect-us/rss-feeds \"Follow us on RSS\")\n\n[ ](/en)\n\n[ Subscribe to our updates ](/en/news-events/subscribe)\n\n## Connect with us:\n\n * [ ](https://www.x.com/OSC_News \"Follow us on Twitter\")\n * [ ](https://www.linkedin.com/company/ontario-securities-commission \"Follow us on Linkedin\")\n * [ ](https://www.youtube.com/user/OntarioSecurities \"Follow us on Youtube\")\n * [ ](/en/news-events/connect-us/rss-feeds \"Follow us on RSS\")\n\n\u00ae Ontario Securities Commission 2025\n\n[ ](/)\n\n * [ Fran\u00e7ais ](/fr/nouvelles-evenements/nouvelles/le-cronos-group-inc-paiera-plus-dun-million-de-dollars-en-raison-de-ses-problemes-comptables-et-de)\n\n",
"url": "https://www.osc.ca/en/news-events/news/cronos-group-inc-pay-more-1-million-accounting-and-control-failures"
},
"reason": "This is a news release from the Ontario Securities Commission (OSC) regarding Cronos Group's accounting and control failures. It's an official regulatory source.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Cronos Group Inc. to pay more than $1 million for accounting and control failures.",
"url": "https://www.osc.ca/en/news-events/news/cronos-group-inc-pay-more-1-million-accounting-and-control-failures"
},
{
"content": {
"metadata": {
"ext_id": "318a471a-739a-4217-8436-3c88c9f5a4e7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
"page_content": "Skip to content\n\n# Settlement Agreement: In the Matter of Cronos Group Inc. and William Hilson\n\nOctober 19, 2022\n\nSettlement Agreement\n\n[ Download PDF ](/sites/default/files/2022-10/set_20221019_cronos.pdf \"Open\nPDF in new window\")\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\n#### SETTLEMENT AGREEMENT\n\n#### PART I -- INTRODUCTION\n\n1\\. Ontario companies strive to be world leaders in the cannabis space. When\npublic cannabis companies issue financial statements that do not provide\naccurate information about their financial performance and condition and fail\nto have adequate controls, they undermine confidence in Ontario's capital\nmarkets and leadership in the cannabis space.\n\n2\\. Cronos Group Inc., an Ontario-based public cannabis company, is being held\naccountable for improperly recognizing $7.6 million (US $5.8 million) in\nrevenue in its Q1, Q2 and Q3 2019 interim financial statements and for\nsubsequently overstating virtually all of its U.S. goodwill and a significant\nportion of its U.S. intangible assets by a collective amount of $234.9 million\nin its Q2 2021 interim financial statements.\n\n3\\. Cronos restated its Q1, Q2 and Q3 2019 interim financial statements to\ncorrect the revenue recognition error upon determining that they had not been\nprepared in accordance with generally accepted accounting principles (\n**GAAP** ). The Company again restated its interim financial statements, this\ntime for Q2 2021, to correct its failure to recognize impairment charges for\ngoodwill and intangible assets relating to the U.S. reporting unit. In both\ninstances, Cronos reported related material weaknesses in internal control\nover financial reporting ( **ICFR** ).\n\n4\\. The parties will jointly file a request that the Capital Markets Tribunal\n(the **Tribunal** ) issue a Notice of Hearing to announce it will hold a\nhearing to consider whether, pursuant to section 127 of the _Securities Act_ ,\nRSO 1990, c S.5 (the **Act** ), it is in the public interest for the Tribunal\nto make certain orders against the Respondent.\n\n#### PART II -- JOINT SETTLEMENT RECOMMENDATION\n\n5\\. Cronos Group Inc. ( **Cronos** , the **Company** , or the **Respondent**\n), consents to the making of an order (the **Order** ) substantially in the\nform attached as Schedule \"A\" to this Settlement Agreement based on the facts\nset out in this Settlement Agreement.\n\n6\\. For the purposes of this proceeding, and any other regulatory proceeding\ncommenced by a Canadian securities regulatory authority only, the Respondent\nagrees with the facts set out in Part III of this Settlement Agreement and the\nconclusion in Part IV of this Settlement Agreement.\n\n#### PART III -- AGREED FACTS\n\n**A. Cronos Uncovers Revenue Recognition Errors in Financial Reporting**\n\n7\\. On February 24, 2020, Cronos publicly announced that it was delayed in\ncompleting its 2019 annual financial statements and that it would delay its\n2019 fourth quarter and full-year earnings release and conference call.\n\n8\\. Cronos is a licensed cannabis producer in Canada with international\nproduction and distribution. The Company is listed on the TSX (CRON) and\nNASDAQ (CRON) with a market capitalization of $1.19 billion as of August 29,\n2022. Cronos's brand portfolio includes Peace Naturals, Spinach and hemp-\nderived CBD brands, Lord Jones, Happy Dance and Peace+.\n\n9\\. On March 2, 2020, Cronos disclosed that it filed a Form 12b-25\n(Notification of Late Filing) with the U.S. Securities and Exchange Commission\n( **SEC** ) for a 15-day extension of the due date to file its Form 10-K for\nthe year ended December 31, 2019. The Company disclosed that it had been\nunable to complete its financial statements for fiscal 2019 due to a\ncontinuing review by the Audit Committee (the **Audit Committee** ) of the\nCompany's Board of Directors (the **Board** ), with the assistance of outside\ncounsel and forensic accountants, of several bulk resin purchases and sales of\nproducts through the wholesale channel (the **Transactions)** and the\nappropriateness of the recognition of revenue from the Transactions.\n\n10\\. On March 17, 2020, Cronos filed a Material Change Report with the OSC and\nannounced that, on the recommendation of its Audit Committee and after\nconsultation with its auditors, its previously issued unaudited interim\nfinancial statements for the first, second and third quarters of 2019 would be\nrestated and reissued and should no longer be relied upon.\n\n11\\. The Company disclosed that its Audit Committee had been conducting a\nreview of the Transactions and the restatement was being made to eliminate\ncertain of these transactions. It announced that it would reduce revenue by\n$2.5 million (US $1.9 million) for the three months ended March 31, 2019, and\nby $5.1 million (US $3.9 million) for the three months ended September 30,\n2019. The Company further disclosed that, in connection with the restatement,\nit anticipated that it would report one or more material weaknesses in ICFR\nwhen it filed its Form 10-K.\n\n12\\. On March 30, 2020, the Company announced that the Audit Committee had\ncompleted its review of the Transactions and that the Board had determined, on\nthe recommendation of the Audit Committee and advice from its auditor, that\nthe Company would restate its unaudited interim financial statements for the\nfirst, second and third quarters of 2019.\n\n13\\. Cronos filed the restated interim financial statements on March 30, 2020.\n\n14\\. The restated interim financial statements disclosed that the Audit\nCommittee review had concluded that there were accounting errors in the\npreviously issued interim financial statements for the first and third\nquarters of 2019 (Q1 2019 and Q3 2019, respectively). In particular, the\nCompany reduced revenue for the three months ended March 31, 2019, by $2.5\nmillion (US $1.9 million) and the three months ended September 30, 2019, by\n$5.1 million (US $3.9 million).\n\n**a. Q1 2019 Revenue Recognition Errors**\n\n15\\. In the three months ended March 31, 2019, the revenue recognition error\nwas due to one wholesale transaction that was inappropriately accounted for as\nrevenue in the Company's originally issued interim financial statements for Q1\n2019. The transaction involved the exchange of cannabis dry flower for\ncannabis resin, with a third party, in two simultaneous transactions entered\ninto in contemplation of one another.\n\n16\\. This transaction did not meet the criteria for revenue recognition in\naccordance with GAAP, in this case International Financial Reporting Standards\n( **IFRS** ). The standard applicable to revenue recognition for the\ntransaction was IFRS 15, _Revenue from Contracts with Customers._\n\n17\\. This transaction lacked commercial substance and therefore revenue should\nnot have been recognized. As a result, Cronos had overstated revenue by\napproximately $2.5 million (US $1.9 million) on the Consolidated Statements of\nOperations and Comprehensive Income (Loss) in the original Q1 2019 interim\nfinancial statements.\n\n**b. Q3 2019 Revenue Recognition Errors**\n\n18\\. During the three months ended September 30, 2019, there was a similar\nwholesale transaction involving the exchange of cannabis dry flower for\ncannabis extracts in three simultaneous transactions which were entered into\nin contemplation of one another with the same third party.\n\n19\\. This transaction did not meet the criteria for revenue recognition in\naccordance with GAAP, in this case IFRS. This transaction lacked commercial\nsubstance and therefore revenue should not have been recognized. As a result,\nCronos had overstated revenue by approximately $2.1 million (US $1.6 million)\non the Consolidated Statements of Operations and Comprehensive Income (Loss)\nin the original interim financial statements for the three and nine months\nended September 30, 2019.\n\n20\\. During the three months ended September 30, 2019, there was a further\nwholesale transaction for a sale of dried cannabis to a different third party\nfor which revenue was improperly recognized.\n\n21\\. This further wholesale transaction did not meet the criteria for revenue\nrecognition in accordance with IFRS 15 because it was deemed to be a\nconsignment sale and lacked commercial substance. As a result, Cronos had\noverstated revenue by approximately $3.0 million (US $2.3 million) on the\nConsolidated Statements of Operations and Comprehensive Income (Loss) in the\nQ3 2019 interim financial statements.\n\n**c. Material Weaknesses in ICFR: March 2020**\n\n22\\. On March 30, 2020, the Company filed Amended and Restated Management's\nDiscussion and Analysis of Financial Condition and Results of Operations (\n**MD &A ** ) for the first, second and third quarters of 2019.\n\n23\\. Each of the MD&A for the first, second and third quarters of 2019\ndisclosed that as of the end of the reporting period, due to material\nweaknesses, ICFR was not effective to provide reasonable assurance regarding\nthe reliability of financial reporting and the preparation of financial\nstatements in accordance with applicable accounting standards.\n\n24\\. A material weakness is a deficiency, or combination of deficiencies in\nICFR, such that there is a reasonable possibility that a material misstatement\nof the Company's annual or interim financial statements will not be prevented\nor detected on a timely basis.\n\n25\\. Cronos identified material weaknesses in the following areas:\n\n> (a) _Segregation of Duties_ : The Company did not maintain adequately\n> designed controls on segregation of purchase and sale responsibilities to\n> ensure accurate recognition of revenue in accordance with IFRS;\n>\n> (b) _Non-Routine Transactions_ : The Company's controls were not effective\n> to ensure that non-routine transactions, including deviations from\n> contractually established sales terms, were authorized, communicated,\n> identified, and evaluated for their potential effect on revenue recognition;\n> and\n>\n> (c) _Risk Assessment:_ The Company did not appropriately design controls to\n> monitor and respond to changes in its business in relation to their\n> transactions in the wholesale market.\n\n26\\. Because of the segregation of duties and non-routine transaction\ndeficiencies, the Company restated its interim financial statements in respect\nof the Transactions to correct the identified misstatements. While the risk\nassessment deficiency did not directly result in a misstatement, it was a\ncontributing factor in the other material weaknesses described above.\n\n27\\. Together, these deficiencies created a reasonable possibility that a\nmaterial misstatement to the consolidated financial statements would not have\nbeen prevented or detected on a timely basis.\n\n**B. Cronos Uncovers Errors in Goodwill and Indefinite-Lived Tangible Assets**\n\n28\\. On November 9, 2021, Cronos publicly announced that it had been unable to\ncomplete its interim financial statements for the three and nine months ended\nSeptember 30, 2021 because its Audit Committee required additional time to\nevaluate goodwill and indefinite-lived intangible assets. Cronos also\nannounced that it expected to record an impairment charge of not less than US\n$220 million on goodwill and indefinite-lived intangible assets for the three\nand six months ended June 30, 2021.\n\n29\\. On the same date, Cronos filed a Material Change Report with the OSC, in\nwhich it stated that on the recommendation of its Audit Committee and after\nconsultation with its auditor, the Company would be required to restate its\npreviously issued unaudited interim financial statements for the three and six\nmonth period ending June 30, 2021, and that those financial statements should\nno longer be relied upon. The Company also filed Forms 8-K and 12b-25 with\nboth the OSC and the SEC.\n\n30\\. On February 18, 2022, Cronos filed restated interim financial statements\nand an Amended and Restated MD&A for the three and six month period ending\nJune 30, 2021 as the previously filed financial statements had not been\nprepared in accordance with GAAP, in this case US GAAP. Cronos disclosed that\nit had performed an interim impairment test on its U.S. reporting unit and the\nLord Jones brand, as of June 30, 2021, to determine whether the carrying\namount of the reporting unit and indefinite-lived intangible asset, the Lord\nJones brand, exceeded their respective fair values. As a result of its\nanalyses, the Company concluded that it should have recorded an impairment\ncharge of US $234.9 million on goodwill and indefinite-lived intangible assets\nrelated to its U.S. reporting unit.\n\n**C. Material Weaknesses in ICFR: February 2022**\n\n31\\. On February 18, 2022, the Company disclosed that its ICFR was ineffective\ndue to the existence of material weaknesses. The material weaknesses\ncontributed to the failure to accurately recognize the value of its goodwill\nand indefinite-lived intangible assets. Specifically, the Company:\n\n> (a) did not ensure that senior accounting personnel engaged consistently in\n> appropriate professional conduct and conduct consistent with the Company's\n> code of business conduct and ethics; and\n>\n> (b) lacked accounting personnel with appropriate level of knowledge and\n> experience in US GAAP.\n\n**D. MITIGATING FACTORS**\n\n32\\. The following mitigating factors are relevant to Cronos' revenue\nrecognition errors stemming from material weaknesses in ICFR:\n\n> (a) _Cronos' Investigation_ \\-- Cronos had mechanisms in place for employees\n> to submit internal tips and complaints. In addition, Cronos promptly took\n> steps to evaluate employee complaints, including by conducting an internal\n> investigation under the supervision of its Audit Committee, which eventually\n> led to the discovery of material accounting errors in the first and third\n> quarters of 2019;\n>\n> (b) _Co-operation_ \\-- Upon learning of the potential for material\n> accounting errors in previously filed reports, and prior to the completion\n> of its internal investigation, Cronos promptly reported information to the\n> OSC related to potential violations of securities laws in the first quarter\n> and third quarter of 2019 and cooperated with the OSC. Cronos provided\n> timely updates to the OSC and voluntarily produced documents, reports, and\n> other materials, including factual information learned during the course of\n> its internal investigation into the material accounting errors. Cronos\n> further facilitated interviews of current and former officers and employees,\n> including individuals residing outside of Canada;\n>\n> (c) _Restatement_ \\-- On March 30, 2020, Cronos filed amended and restated\n> interim financial statements and MD&A; and\n>\n> (d) _Remediation_ \\-- Cronos identified and implemented several enhancements\n> to remediate the identified weaknesses in ICFR, including developing and\n> implementing new internal accounting controls, developing a new training\n> program regarding accounting related matters, and hiring additional staff\n> with familiarity with applicable accounting requirements.\n\n33\\. The following mitigating factors are relevant to Cronos' failure to\nimpair goodwill and indefinite-lived intangible assets stemming from material\nweaknesses in ICFR:\n\n> a. _Cronos' Investigation_ \\-- Cronos had mechanisms in place for employees\n> to submit internal tips and complaints. In addition, Cronos promptly took\n> steps to evaluate a complaint submitted by an employee, including by\n> conducting an internal investigation under the supervision of its Audit\n> Committee, which eventually led to the discovery of material accounting\n> errors in the second quarter of 2021;\n>\n> b. _Co-operation_ \\-- Upon learning of the potential for material accounting\n> errors in reports previously filed with the OSC and SEC, and prior to the\n> completion of its internal investigation, Cronos promptly self-reported to\n> OSC and SEC staff information related to potential violations of securities\n> laws in the first quarter and third quarter of 2019. The Company applied for\n> a management cease trade order and fully cooperated with OSC, including by\n> providing all requested information promptly and in a transparent manner.\n> Cronos provided timely updates to OSC staff and voluntarily produced\n> documents, reports, and other materials, including factual information\n> learned during the course of its internal investigation into the material\n> accounting errors;\n>\n> c. _Restatement_ \\-- On February 18, 2022, Cronos filed amended and restated\n> interim financial statements and MD&A for the second quarter of 2021; and\n>\n> d. _Remediation_ \\-- Cronos undertook remedial measures upon learning of the\n> material accounting errors, including developing and implementing new\n> internal accounting controls, developing a new training program regarding\n> accounting related matters, and hiring additional staff with familiarity\n> with applicable GAAP requirements.\n\n#### PART IV -- NON-COMPLIANCE WITH ONTARIO SECURITIES LAW [AND/OR] CONDUCT\nCONTRARY TO THE PUBLIC INTEREST\n\n34\\. By engaging in the conduct described above, the Respondent acknowledges\nand admits that:\n\n> (a) the Respondent failed to file interim financial statements prepared in\n> accordance with applicable GAAP, contrary to s. 77 of the _Act_ ; and\n>\n> (b) the Respondent acted in a manner contrary to the public interest\n\n#### PART VI -- TERMS OF SETTLEMENT\n\n35\\. The Respondent agrees to the terms of settlement set forth below.\n\n36\\. The Respondent consents to the Order substantially in the form attached\nto this Settlement Agreement as Schedule \"A\", pursuant to which it is ordered\nthat:\n\n> (a) this Settlement Agreement is approved;\n>\n> (b) the Respondent pay an administrative penalty in the amount of $1,300,000\n> by wire transfer before the commencement of the Settlement Hearing, pursuant\n> to paragraph 9 of subsection 127(1) of the Act;\n>\n> (c) Cronos shall submit to a review by an independent consultant, acceptable\n> to the Commission and paid for by Cronos, of practices and procedures\n> including Cronos' compliance with requirements relating to ICFR, the terms\n> of which are set forth in Schedule \"A\" to the Order, and institute such\n> changes as the independent consultant recommends; and\n>\n> (d) the Respondent pay costs in the amount of $40,000 by wire transfer\n> before the commencement of the Settlement Hearing, pursuant to section 127.1\n> of the Act.\n\n37\\. The Respondent consents to a regulatory order made by any provincial or\nterritorial securities regulatory authority in Canada containing any or all of\nthe sanctions set out in paragraph 36, other than subparagraphs 36 (b) and\n(d). The applicable sanctions may be modified to reflect the provisions of the\nrelevant provincial or territorial securities law.\n\n38\\. The Respondent acknowledges that this Settlement Agreement and the Order\nmay form the basis for orders of parallel effect (but, for clarity, without\nduplication of the sanctions set out in subparagraphs 36 (b) and (d)) in other\njurisdictions in Canada. The securities laws of some other Canadian\njurisdictions allow orders made in this matter to take effect in those other\njurisdictions automatically, without further notice to the Respondent. The\nRespondent should contact the securities regulator of any other jurisdiction\nin which the Respondent intends to engage in any securities- or derivatives-\nrelated activities, prior to undertaking such activities.\n\n#### PART VII -- FURTHER PROCEEDINGS\n\n39\\. If the Tribunal approves this Settlement Agreement, no enforcement\nproceeding will be commenced or continued against the Respondent under Ontario\nsecurities law based on the misconduct described in Part III of this\nSettlement Agreement, unless the Respondent fails to comply with any term in\nthis Settlement Agreement.\n\n40\\. If the Respondent fails to comply with any term in this Settlement\nAgreement, enforcement proceedings under Ontario securities law may be brought\nagainst the Respondent.\n\n41\\. The Respondent waives any defences to a proceeding referenced in\nparagraph 39 or 40 that are based on the limitation period in the Act,\nprovided that no such proceeding shall be commenced later than six years from\nthe date of the occurrence of the last failure to comply with this Settlement\nAgreement.\n\n#### PART VIII -- PROCEDURE FOR APPROVAL OF SETTLEMENT\n\n42\\. The parties will seek approval of this Settlement Agreement at the\nSettlement Hearing before the Tribunal, which shall be held on a date\ndetermined by Registrar, Governance & Tribunal Secretariat of the Commission\nin accordance with this Agreement and the Tribunal's _Rules of Procedure and\nForms_ .\n\n43\\. Representatives of the Respondent will attend the Settlement Hearing by\nvideo conference.\n\n44\\. The parties confirm that this Settlement Agreement sets forth all facts\nthat will be submitted at the Settlement Hearing, unless the parties agree\nthat additional facts should be submitted at the Settlement Hearing.\n\n45\\. If the Tribunal approves this Settlement Agreement:\n\n> (a) the Respondent irrevocably waives all rights to a full hearing, judicial\n> review or appeal of this matter under the Act; and\n>\n> (b) neither party will make any public statement that is inconsistent with\n> this Settlement Agreement or with any additional agreed facts submitted at\n> the Settlement Hearing.\n\n46\\. Whether or not the Tribunal approves this Settlement Agreement, the\nRespondent will not use, in any proceeding, this Settlement Agreement or the\nnegotiation or process of approval of this Settlement Agreement as the basis\nfor any attack on the Tribunal's jurisdiction, alleged bias, alleged\nunfairness or any other remedies or challenges that may be available.\n\n#### PART IX -- DISCLOSURE OF SETTLEMENT AGREEMENT\n\n47\\. If the Tribunal does not make the Order:\n\n> (a) this Settlement Agreement and all discussions and negotiations between\n> the parties before the Settlement Hearing will be without prejudice to\n> either party; and\n>\n> (b) the parties will each be entitled to all available proceedings, remedies\n> and challenges, including proceeding to a hearing on the merits of the\n> allegations contained in the Statement of Allegations in respect of the\n> Proceeding. Any such proceedings, remedies and challenges will not be\n> affected by this Settlement Agreement, or by any discussions or negotiations\n> relating to this Settlement Agreement.\n\n48\\. The parties will keep the terms of this Settlement Agreement confidential\nuntil the Tribunal approves the Settlement Agreement, except as is necessary\nto make submissions at the Settlement Hearing. If, for whatever reason, the\nTribunal does not approve the Settlement Agreement, the terms of the\nSettlement Agreement shall remain confidential indefinitely, unless the\nparties otherwise agree in writing or if required by law.\n\n#### PART X -- EXECUTION OF SETTLEMENT AGREEMENT\n\n49\\. This Settlement Agreement may be signed in one or more counterparts which\ntogether constitute a binding agreement.\n\n50\\. An electronic copy of any signature will be as effective as an original\nsignature.\n\n**DATED at Toronto, Ontario, this 17th day of October, 2022.**\n\n**CRONOS GROUP INC.**\n\nI have authority to bind the Corporation.\n\n\"Terry Doucet\"\n\nSenior Vice President, Legal, Regulatory Affairs and Corporate Secretary\n\n**DATED at Toronto, Ontario, this 19 day of October, 2022.**\n\n**ONTARIO SECURITIES COMMISSION**\n\n\"Jeff Kehoe\"\n\nDirector, Enforcement Branch\n\n#### SCHEDULE \"A\"\n\n#### FORM OF ORDER\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\nFile No.\n\n_(Names of panelists comprising the panel)_\n\n_(Day and date order made)_\n\n#### ORDER (Sections 127 and 127.1 of the _Securities Act,_ RSO 1990, c. S.5)\n\n**WHEREAS** on [ **date** ] the Capital Markets Tribunal held a hearing by\nvideoconference to consider the request for approval of settlement agreement\ndated **[date** ] (the **Settlement Agreement** );\n\n**ON READING** the Joint Application for Settlement Hearing, including the\nStatement of Allegations dated [ **date** ] and the Settlement Agreement, the\nwritten submissions, and on hearing the submissions of representatives of each\nof the parties, and on considering Cronos Group Inc. ( **Cronos** ) having\nmade payment of each of $1,300,000 and $40,000 to the Commission in accordance\nwith the terms of the Settlement Agreement,\n\n**IT IS ORDERED** that:\n\n> 1\\. the Settlement Agreement is approved;\n>\n> 2\\. Cronos shall pay an administrative penalty of $1,300,000 to the\n> Commission by wire transfer before the commencement of the Settlement\n> Hearing pursuant to paragraph 9 of subsection 127(1) of the Act;.\n>\n> 3\\. Cronos shall submit to a review by an independent consultant acceptable\n> to the Commission and paid for by Cronos of practices and procedures\n> including Cronos' compliance with requirements relating to ICFR, the terms\n> of which are set forth in Schedule \"A\" to this Order, and institute such\n> changes as the independent consultant recommends; and\n>\n> 4\\. Cronos shall pay costs of the Commission's investigation in the amount\n> of $40,000 by wire transfer before the commencement of the Settlement\n> Hearing pursuant to section 127.1 of the Act.\n\n____________________ | \n---|--- \n[Adjudicator] | \n____________________ | ____________________ \n[Adjudicator] | [Adjudicator] \n \n#### SCHEDULE \"A\"\n\n#### IN THE MATTER OF CRONOS GROUP INC.\n\n#### TERMS AND CONDITIONS OF INDEPENDENT REVIEW OF PRACTICES AND PROCEDURES\n\nThis document is made in connection with the settlement agreement dated [date]\n(the **Settlement Agreement** ) in File No. [XXX]. All terms in this document\nhave the same meaning as in the Settlement Agreement.\n\nCronos shall:\n\n> 1\\. Retain, within thirty (30) days of the date of the Order, at its own\n> expense a qualified independent consultant (the **Consultant** ) not\n> unacceptable to the OSC, to review the Respondent's internal accounting\n> controls and ICFR. The Consultant's review and evaluation shall include an\n> assessment of the following:\n>\n\n>> (a) The effectiveness of Cronos' internal accounting controls in light of\nCronos' business strategy. The review shall include, but not be limited to, a\nreview of the Company's policies, procedures, and controls, relating to (i)\nrevenue recognition, including in its wholesale channel and non-routine\ntransactions, and (ii) the assessment and testing of goodwill and intangible\nassets for impairment;\n\n>>\n\n>> (b) Cronos' compliance with Ontario securities laws related to ICFR,\nincluding but not limited to, the adequacy of Cronos' control environment and\nrisk assessment based upon criteria established in the Internal Control --\nIntegrated Framework (2013) by the Committee of Sponsoring Organizations of\nthe Treadway Commission ( **COSO** );\n\n>>\n\n>> (c) Cronos' employment of a sufficient number of accounting and finance\npersonnel with an understanding of applicable GAAP and financial reporting\nrequirements, as well as the reporting lines of accounting and finance\npersonnel to management and the Board of Directors; and\n\n>>\n\n>> (d) Cronos' training of its employees on matters related to applicable GAAP\nas well as financial reporting requirements.\n\n>\n> 2\\. Provide, within forty-five (45) days of the date of this Order, a copy\n> of the engagement letter detailing the Consultant's responsibilities to a\n> Manager of the Enforcement Branch of the OSC.\n>\n> 3\\. Require the Consultant, at the conclusion of the review, which in no\n> event shall be more than 120 days after the date of the Order, to submit a\n> report of the Consultant to the Respondent and a Manager of the Corporate\n> Finance Branch of the OSC. The report shall address the Consultant's\n> findings and shall include a description of the review performed, the\n> conclusions reached, and the Consultant's recommendations for changes or\n> improvements.\n>\n> 4\\. Adopt, implement, and maintain all policies, procedures and practices\n> recommended in the report of the Consultant within 120 days of receiving the\n> report from the Consultant. As to any of the Consultant's recommendations\n> about which the Respondent and the Consultant do not agree, such parties\n> shall attempt in good faith to reach agreement within 180 days of the date\n> of the date of the Order. In the event that the Respondent and the\n> Consultant are unable to agree on an alternative proposal, the Respondent\n> will abide by the determination of the Consultant and adopt those\n> recommendations deemed appropriate by the Consultant.\n>\n> 5\\. Cooperate fully with the Consultant in its review, including making such\n> information and documents available as the Consultant may reasonably\n> request, and by permitting and requiring the Respondent's employees and\n> agents to supply such information and documents as the Consultant may\n> reasonably request, subject to any applicable privilege.\n>\n> 6\\. To ensure the independence of the Consultant, the Respondent (i) shall\n> not have received legal, auditing, or other services from, or have had any\n> affiliations with, the Consultant during the two years prior to the date of\n> this Order; (ii) shall not have the authority to terminate the Consultant\n> without prior written approval of the OSC; and (iii) shall compensate the\n> Consultant for services rendered pursuant to the Order at their reasonable\n> and customary rates.\n>\n> 7\\. Require the Consultant to enter into an agreement that provides that for\n> the period of engagement and for a period of two years from completion of\n> the engagement, the Consultant shall not enter into any employment,\n> consultant, attorney-client, auditing or other professional relationship\n> with Respondent, or any of its present or former affiliates, directors,\n> officers, employees, or agents acting in their capacity. The agreement will\n> also provide that the Consultant will require that any firm with which they\n> are affiliated or of which they are a member, and any person engaged to\n> assist the Consultant in performance of their duties under this order shall\n> not, without prior written consent of the OSC, enter into any employment,\n> consultant, attorney-client, auditing or other professional relationship\n> with the Respondent, or any of its present or former affiliates, directors,\n> officers, employees, or agents acting in their capacity as such for the\n> period of engagement and for a period of two years after the engagement.\n>\n> 8\\. The reports by the Consultant will likely include confidential\n> financial, proprietary, competitive business or commercial information.\n> Public disclosure of the reports could discourage cooperation, impede\n> pending or potential government investigations or undermine the objectives\n> of the reporting requirement. For these reasons, among others, the reports\n> and the contents thereof are intended to remain and shall remain non-public,\n> except (1) pursuant to court order, (2) as agreed to by the parties in\n> writing, (3) to the extent that the OSC determines in its sole discretion\n> that disclosure would be in furtherance of the OSC's discharge of its duties\n> and responsibilities, or (4) is otherwise required by law.\n>\n> 9\\. Require the Consultant to report to a Manager of the Enforcement Branch\n> of the OSC on its activities as the OSC may request.\n>\n> 10\\. Respondent agrees that the OSC may extend any of the dates set forth\n> above at its discretion.\n>\n> 11\\. Certify, in writing, compliance with the requirements(s) set forth\n> above. The certification shall identify the requirements(s), provide written\n> evidence of compliance in the form of a narrative, and be supported by\n> exhibits sufficient to demonstrate compliance. The OSC may make reasonable\n> request for further evidence of compliance, and the Respondent agrees to\n> provide such evidence. The certification and reporting material shall be\n> submitted to the Manager of the Corporate Finance Branch of the OSC no later\n> than thirty days (30) from the date of the completion of the requirements.\n\n * [ Fran\u00e7ais ](/fr/instances/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson)\n\n### Your feedback matters\n\n[ ](https://osc.ca) [ ](/en)\n\n[ Subscribe to our updates ](/en/news/subscribe)\n\n## Connect with us:\n\n * [ ](https://www.linkedin.com/company/ontario-securities-commission \"Follow us on Linkedin\")\n * [ ](https://www.x.com/OSC_News \"Follow us on Twitter\")\n * [ ](/en/rss-feeds \"Follow us on RSS\")\n\n\u00ae Ontario Securities Commission 2025\n\n[ ](/)\n\n * [ Fran\u00e7ais ](/fr/instances/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson)\n\n",
"url": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
"reason": "This is a settlement agreement from the Capital Markets Tribunal regarding Cronos Group Inc. and William Hilson. It's an official regulatory document.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Settlement agreement in the matter of Cronos Group Inc. and William Hilson.",
"url": "https://www.capitalmarketstribunal.ca/en/proceedings/cronos-group-inc-and-william-hilson-re/settlement-agreement-matter-cronos-group-inc-and-william-hilson"
},
{
"content": {
"metadata": {
"ext_id": "c39a557e-1dd5-4b2e-b07c-9048c9b1b84f",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2023 Second Quarter Results\n\nAugust 08, 2023 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Industry-leading balance sheet with_ _$841 million_ _in cash and short-term\ninvestments_ \n\n_Increased 2023 operating expense savings target to $20 to $25 million_\n\n_Announces additional initiatives to streamline supply chain and improve cash\nflow_\n\n_Spinach_ _\u00ae_ _was top-10 in retail sales in every category it participates in\n- flower, edible, vape and pre-roll, in Q2 2023_\n\nTORONTO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announces its 2023 second\nquarter business results.\n\n\u201cI am proud of our team\u2019s execution in the second quarter despite facing\ndynamic market conditions across the countries we operate in,\u201d said Mike\nGorenstein, Chairman, President and CEO, Cronos. \u201cOur teams in Canada\ncontinued to push forward in the edibles category, maintaining our number one\nmarket share position while bringing innovation to our pre-roll and vape\nportfolios. Turning to Israel, despite the slowdown in patient growth and\npolitical unrest, our team stayed focused on successfully maintaining one of\nthe top positions in the market, driven by our high-quality flower offerings\nand distribution in nearly all pharmacies. With the new regulations intended\nto create more accessibility for patients set to go into effect in Israel in\nDecember 2023, we continue to be excited about the runway for growth in that\nmarket.\u201d\n\n\u201cWhile we execute on product innovation and revenue growth, we are\nsimultaneously laser-focused on reducing costs across our organization,\u201d\ncontinued Mr. Gorenstein. \u201cOur cost reduction efforts and improved balance\nsheet management continue to yield an improvement in cash flow. Having the\nbest balance sheet in the industry allows us to be patient and selective with\nour growth initiatives, and you will continue to see a methodical approach to\ngrowth. We will continue to push forward on new market growth opportunities\nand expand our portfolio of borderless products to be ready for new markets as\nthey open.\u201d\n\n**_Consolidated Financial Results_ **\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in our condensed\nconsolidated statements of net loss and comprehensive income (loss). Prior\nperiod amounts have been reclassified to reflect the discontinued operations\nclassification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | **Three months ended June 30,** | | **Change** | | **Six months ended June 30,** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | | **2022** | | | | **$** | | **%** \nConsolidated net revenue | | 19,021 | | | | | 21,602 | | | | | (2,581 | ) | | (12 | ) | % | | | 38,516 | | | | | 44,307 | | | | | (5,791 | ) | | (13 | ) | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nCost of sales | | 15,922 | | | | | 17,280 | | | | | (1,358 | ) | | (8 | ) | % | | | 32,490 | | | | | 33,275 | | | | | (785 | ) | | (2 | ) | % \nGross profit | $ | 3,099 | | | | $ | 4,322 | | | | $ | (1,223 | ) | | (28 | ) | % | | $ | 6,026 | | | | $ | 11,032 | | | | $ | (5,006 | ) | | (45 | ) | % \nGross margin ( i ) | | 16 | | % | | | 20 | | % | | | N/A | | | (4 | ) | pp | | | 16 | | % | | | 25 | | % | | | N/A | | | (9 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nNet income (loss) (ii) | $ | (5,663 | ) | | | $ | (17,527 | ) | | | $ | 11,864 | | | 68 | | % | | $ | (23,698 | ) | | | $ | (45,892 | ) | | | $ | 22,194 | | | 48 | | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nAdjusted EBITDA (iii) | $ | (15,905 | ) | | | $ | (16,643 | ) | | | $ | 738 | | | 4 | | % | | $ | (31,587 | ) | | | $ | (32,094 | ) | | | $ | 507 | | | 2 | | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nCash and cash equivalents (iv) | $ | 409,428 | | | | $ | 789,543 | | | | $ | (380,115 | ) | | (48 | ) | % | | | | | | | | | | | | | | | | | | \nShort-term investments (iv) | | 431,510 | | | | | 155,352 | | | | | 276,158 | | | 178 | | % | | | | | | | | | | | | | | | | | | \nCapital expenditures (v) | | 502 | | | | | 1,905 | | | | | (1,403 | ) | | (74 | ) | % | | | 1,306 | | | | | 2,639 | | | | | (1,333 | ) | | (51 | ) | % \n \n_(i) Gross margin is defined as gross profit divided by net revenue._ \n_(ii) Net income (loss) of_ _$(5.7) million_ _in_ _Q2_ _2023_ _improved by_\n_$11.9 million_ _from_ _Q2_ _2022_ _. The improvement year-over-year was\nprimarily driven by increased interest income and the reduction in operating\nexpenses._ \n_(iii) See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\u201cAdjusted EBITDA\u201d) to net income (loss)._ \n_(iv) Dollar amounts are as of the last day of the period indicated._ \n_(v) Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets. \n \n_\n\n**Second Quarter** **2023**\n\n * Net revenue of $19.0 million in Q2 2023 decreased by $2.6 million from Q2 2022. The decrease was primarily due to lower cannabis flower sales in Israel due to competitive activity, the slowdown in patient permit authorizations and political unrest, and an adverse price/mix in the Canadian cannabis flower category driving increased excise tax payments as a percent of revenue. Furthermore, the weakened Canadian dollar and Israeli shekel against the U.S. dollar during the current period adversely impacted results. \n * Gross profit of $3.1 million in Q2 2023 decreased by $1.2 million from Q2 2022. The decrease was primarily driven by lower cannabis flower sales in Israel, and an adverse price/mix shift in cannabis flower sales in Canada. \n * Adjusted EBITDA of $(15.9) million in Q2 2023 improved by $0.7 million from Q2 2022. The improvement year-over-year was primarily driven by decreases in general and administrative expenses and research and development expenses due to the Company's cost savings initiatives. \n\n**_Business Updates_ **\n\n**Guidance and Outlook**\n\nThe Company has decided to discontinue providing net revenue guidance and to\nwithdraw our previously announced net revenue target of $100 to $110 million\nfor full-year 2023. The discontinuance of providing net revenue guidance\nreflects turbulent market conditions beyond previous expectations in the\nmarkets in which we operate, specifically, increasing political unrest and\nstagnant patient growth in Israel, the decision to exit the U.S. business, and\ncompetitive activity in Canada. In addition, foreign exchange rates have had\nunfavorable impact on our net revenue.\n\nFollowing a careful evaluation of the Company's global supply chain, the\nCompany announced today the planned wind-down of the Cronos Fermentation\nfacility in Winnipeg, Manitoba, Canada, with intentions to list the facility\nfor sale. Cronos expects to continue to operate the Cronos Fermentation\nfacility with a phased reduction and planned exit by the end of 2023.\n\nThe Company previously increased its operating expense savings target for 2023\nfrom $10 to $20 million to a new range of $20 to $25 million, primarily driven\nby savings in sales and marketing, general and administrative, and research\nand development.\n\nToday, the Company announced incremental operating expense reductions across\nthe organization. The Company anticipates that the exit of the Cronos\nFermentation facility and the additional operating expense reductions\nannounced today will capture an incremental $10 to $15 million in full-year\nsavings in 2024. The organizational and cost savings initiatives are intended\nto position the Company to drive profitable and sustainable growth over time.\n\nCronos anticipates that the net change in cash, defined as the sum of cash and\ncash equivalents and short-term investments, for the last six months of fiscal\nyear 2023 will decline by less than $5 to $10 million. This is an improvement\nto the previous guidance of declining less than $25 million in the remaining\nnine months of fiscal year 2023. The Company maintains its expectation that\nthe net change in cash will be positive in 2024.\n\nThe fiscal year 2023 guidance assumes: (i) the Company will experience\nrelatively consistent foreign exchange and interest rates; (ii) the general\neconomic conditions and regulatory environment in the markets in which Cronos\nparticipates will not materially change; (iii) timely receipt of interest and\nprincipal payments on the GrowCo senior secured credit facility; (iv)\nanticipated interest income of approximately $20 to $25 million for the last\nsix months of fiscal year 2023; (v) steady gross margin profile; and (vi)\nmeeting our target for reducing our operating expenses by $20 to $25 million.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause our actual results to differ materially from these forward-\nlooking statements.\n\n**Brand and Product Portfolio**\n\nThe Spinach \u00ae brand continued to hold its number one market share position\nin the edibles category in Canada in Q2 2023. According to Hifyre data,\nSpinach \u00ae products had an approximate 14.5% market share in the edibles\ncategory expanding to approximately 21.8% within the gummy category alone\nacross the SOURZ by Spinach \u00ae and Spinach FEELZ\u2122 sub-brands. In the second\nquarter, we launched a new SOURZ by Spinach \u00ae flavor, Pink Lemonade, which\nis quickly climbing the market share ranks and is already our fourth-highest-\nranked edible SKU.\n\nSpinach \u00ae pre-rolls are ranked number eight in the category, up from\nnumber-14 in Q4 2022, according to Hifyre. Cronos launched several new\nofferings to bolster the Spinach \u00ae pre-roll portfolio, including Sonic Lemon\nFuel pre-rolls, and three new infused pre-rolls offerings: Fully Charged Pink\nLemonade, Fully Charged Peach Punch, and Fully Charged Strawberry Slurricane.\nWinning in the pre-roll category is a top priority, and we will continue to\nflex our robust product development capabilities to formulate differentiated\nproducts with flavors and rare cannabinoids to win with consumers.\n\nCronos' strong breeding program and portfolio of genetics continued to drive\ngrowth, propelling the Spinach \u00ae brand to become the number two flower brand\nin Canada with a 6.0% market share in June 2023, according to Hifyre. We have\nthree SKUs in the top-10 for market share, led by our GMO Cookies and Wedding\nCake genetics.\n\nSpinach \u00ae was ranked the number seven vape brand in Q2 2023, holding a 4.2%\nmarket share, according to Hifyre. Spinach \u00ae is the number one rare\ncannabinoid vape brand, with our SKUs that feature cannabinol (CBN),\ncannabigerol (CBG), and cannabichromene (CBC), holding the top three spots\namong rare cannabinoid vapes. In July, we launched three new vapes under the\nSpinach \u00ae portfolio. These new vapes come in a 1.2-gram format in the flavor\nofferings: Pink Lemonade, Peach Punch, and Strawberry Slurricane.\n\nCronos intends to launch its Lord Jones \u00ae brand in the Canadian adult-use\nmarket in Q4 2023, bringing Lord Jones \u00ae back to its roots as an adult-use\nbrand. We expect this launch will be highly complementary to our offerings\nunder the Spinach \u00ae brand and will elevate our growing portfolio of\nborderless products.\n\nIn Israel, Cronos launched two new pre-roll offerings under the Peace Naturals\n\u00ae brand, Wedding Rolls and Cocoa Bomba, and a new flower offering with our\nsuccessful Space Cake genetic. In June 2023, the Knesset Health Committee in\nIsrael changed the cannabis regulations streamlining and simplifying the\nprocess for some patients to obtain prescriptions; the new regulations are\nscheduled to take effect in December 2023. For certain medical conditions,\npatients will no longer be required to obtain a license with approval from the\nhealth ministry and doctors can directly prescribe cannabis to those patients.\nThis change simplifies the process for patients and doctors alike and is\nexpected to increase patient count.\n\n**Global Supply Chain**\n\nCronos Growing Company Inc. (\u201cCronos GrowCo\u201d) reported to the Company\npreliminary unaudited net revenue to licensed producers, excluding sales to\nthe Company, of approximately $3.6 million in the second quarter of 2023.\nCronos previously provided GrowCo with a senior secured credit facility, which\ncurrently has approximately $72.4 million outstanding following a principal\nrepayment of $2.5 million by GrowCo in Q2 2023. In addition to principal\nrepayment, Cronos also received $1.7 million in interest payments from GrowCo,\nand a $1.3 million payment from its joint venture partner on its promissory\nnote in Q2 2023, totaling approximately $5.5 million in cash payments to\nCronos in Q2 2023.\n\nIn July 2023, we signed an agreement with one of the leading distributors of\nmedical cannabis in Germany. We anticipate commencing shipments of cannabis in\nthe third quarter of 2023. The recently proposed regulatory change to\nreschedule cannabis, no longer labeling medical cannabis as a narcotic, is\nexpected to unlock significant growth in the market. We intend to launch our\nPeace Naturals \u00ae medical-focused brand in Germany with a goal to make it a\ntop brand similar to our success in Israel.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nAugust 8, 2023, at 8:30 a.m. ET to discuss 2023 Second Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany's website at _https://ir.thecronosgroup.com/events-presentations._\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology, such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * our expected full year net revenues for 2023; \n * our expected cash and cash equivalents and short-term investment balances; \n * expectations related to our announcement of additional cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations, including the costs, expenses and write-offs associated therewith, the impact on our operations and our financial statements and any future plans to re-enter the U.S. market; \n * expectations related to our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * the timing of the change in the nature of operations at our facility in Stayner, Ontario (the \u201cPeace Naturals Campus\u201d) and the expected costs and benefits from the wind-down of cultivation and certain production activities at the Peace Naturals Campus; \n * our ability to effectively wind-down cultivation and certain production activities at the Peace Naturals Campus in an organized fashion and acquire raw materials from other suppliers, including Cronos Growing Company Inc. (\u201cCronos GrowCo\u201d), and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments, including the strategic partnership (the \u201cGinkgo Strategic Partnership\u201d) with Ginkgo Bioworks Holdings, Inc. (\u201cGinkgo\u201d); \n * our ability or plans to identify, develop, commercialize or expand our technology and research and development (\u201cR&D\u201d) initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of United States (\u201cU.S.\u201d) state and federal law and the scope of any regulations by the U.S. Food and Drug Administration (the \u201cFDA\u201d), the U.S. Drug Enforcement Administration (the \u201cDEA\u201d), the U.S. Federal Trade Commission (the \u201cFTC\u201d), the U.S. Patent and Trademark Office (the \u201cPTO\u201d) and any state equivalent regulatory agencies; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding acquisitions and dispositions and the anticipated benefits therefrom; \n * our ability to timely and effectively remediate any material weaknesses in our internal control over financial reporting; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the uncertainties associated with the COVID-19 pandemic, including our ability, and the abilities of our joint ventures and our suppliers and distributors, to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic, the ability to continue our production, distribution and sale of our products, and demand for and the use of our products by consumers; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement with the SEC (the \u201cSettlement Order\u201d) and the settlement agreement with the Ontario Securities Commission (\u201cSettlement Agreement\u201d), including complying with any recommendations made by the independent consultant appointed pursuant to the Settlement Order and Settlement Agreement; and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to achieve our net revenue\ngrowth and cash and cash equivalents and short-term investment balances for\n2023; (ii) our ability to efficiently and effectively wind-down our operations\nat our Winnipeg, Manitoba facility and realize the expected cost-savings and\nother benefits related thereto, (iii) our ability to efficiently and\neffectively wind-down our operations in the U.S. and realize the expected\ncost-savings and other benefits related thereto, (iv) our ability to realize\nthe expected cost-savings, efficiencies and other benefits of our Realignment\nand other announced cost-cutting measures and employee turnover related\nthereto; (v) our ability to efficiently and effectively wind-down our\ncultivation and certain production activities at the Peace Naturals Campus,\nreceive the benefits of the change in the nature of our operations at our\nPeace Naturals Campus and acquire raw materials on a timely and cost-effective\nbasis from third parties, including Cronos GrowCo; (vi) our ability to realize\nanticipated benefits, synergies or generate revenue, profits or value from our\nacquisitions and strategic investments; (vii) the production and manufacturing\ncapabilities and output from our facilities and our joint ventures, strategic\nalliances and equity investments; (viii) government regulation of our\nactivities and products including, but not limited to, the areas of cannabis\ntaxation and environmental protection; (ix) the timely receipt of any required\nregulatory authorizations, approvals, consents, permits and/or licenses; (x)\nconsumer interest in our products; (xi) competition; (xii) anticipated and\nunanticipated costs; (xiii) our ability to generate cash flow from operations;\n(xiv) our ability to conduct operations in a safe, efficient and effective\nmanner; (xv) our ability to hire and retain qualified staff, and acquire\nequipment and services in a timely and cost-efficient manner; (xvi) our\nability to exercise the PharmaCann Option and realize the anticipated benefits\nof the transaction with PharmaCann; (xvii) our ability to successfully market\nthe Winnipeg, Manitoba facility, and to complete planned dispositions, and, if\ncompleted, obtain our anticipated sales price; (xviii) our ability, and the\nabilities of our joint ventures and our suppliers and distributors, to\neffectively deal with the restrictions, limitations and health issues\npresented by the COVID-19 pandemic and the ability to continue our production,\ndistribution and sale of our products and customer demand for and use of our\nproducts; (xix) general economic, financial market, regulatory and political\nconditions in which we operate; (xx) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxi) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be\ncorrect, and that objectives, strategic goals and priorities will not be\nachieved. A variety of factors, including known and unknown risks, many of\nwhich are beyond our control, could cause actual results to differ materially\nfrom the Forward-Looking Statements in this release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, that we may not be able\nto generate the net revenues we anticipate or achieve our cash and cash\nequivalents and short-term investment balance objectives, that we may not be\nable to wind-down our operations at our Winnipeg, Manitoba facility in a\ndisciplined and cost-effective manner or achieve the anticipated benefits\nthereof or be able to access raw materials on a timely and cost-effective\nbasis from third-parties; that we may be unable to further streamline our\noperations and reduce expenses; that we may not be able to wind-down our U.S.\noperations in a disciplined and cost-effective manner or achieve the\nanticipated benefits thereof or be able to effectively and efficiently re-\nenter the U.S. market in the future; that we may not be able to wind-down\ncultivation and certain production activities at the Peace Naturals Campus in\na disciplined manner or achieve the anticipated benefits of the change in the\nnature of our operations or be able to access raw materials on a timely and\ncost-effective basis from third-parties, including Cronos GrowCo; the risk\nthat the COVID-19 pandemic and the military conflict between Russia and\nUkraine may disrupt our operations and those of our suppliers and distribution\nchannels and negatively impact the demand for and use of our products; the\nrisk that cost savings and any other synergies from the Altria Investment may\nnot be fully realized or may take longer to realize than expected; failure to\nexecute key personnel changes; the risks that our Realignment, the change in\nthe nature of our operations at the Peace Naturals Campus and our further\nleveraging of our strategic partnerships will not result in the expected cost-\nsavings, efficiencies and other benefits or will result in greater than\nanticipated turnover in personnel; lower levels of revenues; the lack of\nconsumer demand for our cannabis products; our inability to reduce expenses at\nthe level needed to meet our projected net change in cash and cash\nequivalents; our inability to manage disruptions in credit markets or changes\nto our credit ratings; unanticipated future levels of capital, environmental\nor maintenance expenditures, general and administrative and other expenses;\ngrowth opportunities not turning out as expected; the lack of cash flow\nnecessary to execute our business plan (either within the expected timeframe\nor at all); difficulty raising capital; the potential adverse effects of\njudicial, regulatory or other proceedings, or threatened litigation or\nproceedings, on our business, financial condition, results of operations and\ncash flows; volatility in and/or degradation of general economic, market,\nindustry or business conditions; compliance with applicable environmental,\neconomic, health and safety, energy and other policies and regulations and in\nparticular health concerns with respect to vaping and the use of cannabis in\nvaping devices; the unexpected effects of actions of third parties such as\ncompetitors, activist investors or federal (including U.S. federal), state,\nprovincial, territorial or local regulatory authorities or self-regulatory\norganizations; adverse changes in regulatory requirements in relation to our\nbusiness and products; legal or regulatory obstacles that could prevent us\nfrom being able to exercise the PharmaCann Option and thereby realizing the\nanticipated benefits of the transaction with PharmaCann; dilution of our fully\ndiluted ownership of PharmaCann and the loss of our rights as a result of that\ndilution; a delay in our remediation of a material weakness in our internal\ncontrol over financial reporting and the improvement of our control\nenvironment and our systems, processes and procedures; and the factors\ndiscussed under Part I, Item 1A \u201cRisk Factors\u201d of the Annual Report on Form\n10-K for the year ended December 31, 2022 and under Part II, Item 1A \u201cRisk\nFactors\u201d in our Quarterly Reports. Readers are cautioned to consider these and\nother factors, uncertainties and potential events carefully and not to put\nundue reliance on Forward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\nAs used in this press release, \u201cCBD\u201d means cannabidiol and \u201cU.S. hemp\u201d has the\nmeaning given to the term \u201chemp\u201d in the U.S. Agricultural Improvement Act of\n2018, including hemp-derived CBD.\n\n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts)_ \n| **As of June 30, 2023** | | **As of December 31, 2022** \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 409,428 | | | $ | 764,644 | \nShort-term investments | | 431,510 | | | | 113,077 | \nAccounts receivable, net | | 12,540 | | | | 23,113 | \nInterest receivable | | 9,452 | | | | 2,469 | \nOther receivables | | 4,839 | | | | 3,298 | \nCurrent portion of loans receivable, net | | 5,035 | | | | 8,890 | \nInventory, net | | 45,190 | | | | 37,559 | \nPrepaids and other current assets | | 6,780 | | | | 7,106 | \nTotal current assets | | 924,774 | | | | 960,156 | \nEquity method investments, net | | 17,646 | | | | 18,755 | \nOther investments | | 67,925 | | | | 70,993 | \nNon-current portion of loans receivable, net | | 71,080 | | | | 72,345 | \nProperty, plant and equipment, net | | 57,695 | | | | 60,557 | \nRight-of-use assets | | 1,571 | | | | 2,273 | \nGoodwill | | 1,057 | | | | 1,033 | \nIntangible assets, net | | 25,462 | | | | 26,704 | \nDeferred tax asset | | 1,137 | | | | 193 | \n**Total assets** | $ | 1,168,347 | | | $ | 1,213,009 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 9,340 | | | $ | 11,163 | \nIncome taxes payable | | 438 | | | | 32,956 | \nAccrued liabilities | | 16,573 | | | | 22,268 | \nCurrent portion of lease obligation | | 1,174 | | | | 1,330 | \nDerivative liabilities | | 37 | | | | 15 | \nCurrent portion due to non-controlling interests | | 364 | | | | 384 | \nTotal current liabilities | | 27,926 | | | | 68,116 | \nNon-current portion due to non-controlling interests | | 1,023 | | | | 1,383 | \nNon-current portion of lease obligation | | 2,050 | | | | 2,546 | \nDeferred tax liability | | 675 | | | | \u2014 | \n**Total liabilities** | | 31,674 | | | | 72,045 | \n| | | \n**Shareholders\u2019 equity** | | | \nShare capital | | 613,152 | | | | 611,318 | \nAdditional paid-in capital | | 45,317 | | | | 42,682 | \nRetained earnings | | 463,153 | | | | 490,682 | \nAccumulated other comprehensive income (loss) | | 18,067 | | | | (797 | ) \nTotal equity attributable to shareholders of Cronos Group | | 1,139,689 | | | | 1,143,885 | \nNon-controlling interests | | (3,016 | ) | | | (2,921 | ) \n**Total shareholders\u2019 equity** | | 1,136,673 | | | | 1,140,964 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,168,347 | | | $ | 1,213,009 | \n \n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Statements of Net Loss and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts,\nunaudited)_ \n| **Three months ended June 30,** | | **Six months ended June 30,** \n| | **2023** | | | | **2022** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 25,798 | | | $ | 27,095 | | | $ | 52,352 | | | $ | 54,173 | \nExcise taxes | | (6,777 | ) | | | (5,493 | ) | | | (13,836 | ) | | | (9,866 | ) \n**Net revenue** | | 19,021 | | | | 21,602 | | | | 38,516 | | | | 44,307 | \nCost of sales | | 15,922 | | | | 17,280 | | | | 32,490 | | | | 33,275 | \n**Gross profit** | | 3,099 | | | | 4,322 | | | | 6,026 | | | | 11,032 | \n**Operating expenses** | | | | | | | \nSales and marketing | | 5,297 | | | | 4,185 | | | | 11,038 | | | | 7,195 | \nResearch and development | | 1,107 | | | | 4,194 | | | | 3,146 | | | | 8,115 | \nGeneral and administrative | | 13,451 | | | | 16,286 | | | | 25,307 | | | | 37,417 | \nRestructuring costs | | \u2014 | | | | 978 | | | | \u2014 | | | | 3,009 | \nShare-based compensation | | 2,331 | | | | 2,583 | | | | 4,866 | | | | 6,199 | \nDepreciation and amortization | | 1,533 | | | | 1,398 | | | | 3,058 | | | | 2,666 | \nImpairment loss on long-lived assets | | \u2014 | | | | \u2014 | | | | \u2014 | | | | 3,493 | \nTotal operating expenses | | 23,719 | | | | 29,624 | | | | 47,415 | | | | 68,094 | \nOperating loss | | (20,620 | ) | | | (25,302 | ) | | | (41,389 | ) | | | (57,062 | ) \n**Other income** | | | | | | | \nInterest income, net | | 12,471 | | | | 3,775 | | | | 23,646 | | | | 5,820 | \nGain (loss) on revaluation of derivative liabilities | | 43 | | | | 3,410 | | | | (22 | ) | | | 13,829 | \nShare of income (loss) from equity method investments | | 270 | | | | 5,197 | | | | (226 | ) | | | 5,197 | \nGain (loss) on revaluation of financial instruments | | 5,193 | | | | (2,112 | ) | | | (2,565 | ) | | | 2,156 | \nImpairment loss on other investments | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (11,238 | ) \nForeign currency transaction loss | | (3,174 | ) | | | (2,852 | ) | | | (4,817 | ) | | | (4,724 | ) \nOther, net | | (26 | ) | | | 49 | | | | 59 | | | | 184 | \nTotal other income | | 14,777 | | | | 7,467 | | | | 16,075 | | | | 11,224 | \nLoss before income taxes | | (5,843 | ) | | | (17,835 | ) | | | (25,314 | ) | | | (45,838 | ) \nIncome tax expense (benefit) | | (180 | ) | | | (308 | ) | | | (1,616 | ) | | | 54 | \nLoss from continuing operations | | (5,663 | ) | | | (17,527 | ) | | | (23,698 | ) | | | (45,892 | ) \nLoss from discontinued operations | | (2,834 | ) | | | (2,811 | ) | | | (4,056 | ) | | | (7,099 | ) \nNet loss | | (8,497 | ) | | | (20,338 | ) | | | (27,754 | ) | | | (52,991 | ) \nNet loss attributable to non-controlling interest | | (137 | ) | | | (117 | ) | | | (225 | ) | | | (132 | ) \nNet loss attributable to Cronos Group | $ | (8,360 | ) | | $ | (20,221 | ) | | $ | (27,529 | ) | | $ | (52,859 | ) \n**Comprehensive income (loss)** | | | | | | | \nNet loss | $ | (8,497 | ) | | $ | (20,338 | ) | | $ | (27,754 | ) | | $ | (52,991 | ) \nOther comprehensive income (loss) | | | | | | | \nForeign exchange gain (loss) on translation | | 16,580 | | | | (24,161 | ) | | | 18,994 | | | | (8,184 | ) \nComprehensive income (loss) | | 8,083 | | | | (44,499 | ) | | | (8,760 | ) | | | (61,175 | ) \nComprehensive income (loss) attributable to non-controlling interests | | (87 | ) | | | 122 | | | | (95 | ) | | | (139 | ) \n**Comprehensive income (loss) attributable to Cronos Group** | $ | 8,170 | | | $ | (44,621 | ) | | $ | (8,665 | ) | | $ | (61,036 | ) \n**Net loss per share** | | | | | | | \nBasic and diluted - continuing operations | $ | (0.01 | ) | | $ | (0.05 | ) | | $ | (0.06 | ) | | $ | (0.12 | ) \nBasic and diluted - discontinued operations | | (0.01 | ) | | | \u2014 | | | | (0.01 | ) | | | (0.02 | ) \nBasic and diluted | $ | (0.02 | ) | | $ | (0.05 | ) | | $ | (0.07 | ) | | $ | (0.14 | ) \n \n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n| \n| **Six months ended June 30,** \n| | **2023** | | | | **2022** | \n**Operating activities** | | | \nNet loss | $ | (27,754 | ) | | $ | (52,991 | ) \nAdjustments to reconcile net loss to cash used in operating activities: | | | \nShare-based compensation | | 4,887 | | | | 6,302 | \nDepreciation and amortization | | 4,785 | | | | 7,051 | \nImpairment loss on long-lived assets | | 205 | | | | 3,493 | \nImpairment loss on other investments | | \u2014 | | | | 11,238 | \nLoss (gain) from investments | | 2,955 | | | | (7,193 | ) \nLoss (gain) on revaluation of derivative liabilities | | 22 | | | | (13,829 | ) \nChanges in expected credit losses on long-term financial assets | | (1,146 | ) | | | (655 | ) \nForeign currency transaction loss | | 4,817 | | | | 4,724 | \nOther non-cash operating activities, net | | (4,012 | ) | | | (1,956 | ) \nChanges in operating assets and liabilities: | | | \nAccounts receivable, net | | 10,623 | | | | 1,981 | \nInterest receivable | | (6,807 | ) | | | (383 | ) \nOther receivables | | (200 | ) | | | 3,973 | \nPrepaids and other current assets | | 480 | | | | (3,759 | ) \nInventory | | (7,259 | ) | | | (8,145 | ) \nAccounts payable | | (2,478 | ) | | | 481 | \nIncome taxes payable | | (32,801 | ) | | | \u2014 | \nAccrued liabilities | | (5,784 | ) | | | (1,523 | ) \nCash flows used in operating activities | | (59,467 | ) | | | (51,191 | ) \n**Investing activities** | | | \nPurchase of short-term investments | | (479,763 | ) | | | (157,300 | ) \nProceeds from short-term investments | | 169,418 | | | | 117,975 | \nDividends received from equity method investment | | 1,299 | | | | \u2014 | \nProceeds from repayment on loan receivables | | 11,388 | | | | 1,573 | \nPurchase of property, plant and equipment | | (1,298 | ) | | | (2,218 | ) \nPurchase of intangible assets | | (8 | ) | | | (421 | ) \nOther investing activities | | \u2014 | | | | 70 | \nCash flows used in investing activities | | (298,964 | ) | | | (40,321 | ) \n**Financing activities** | | | \nWithholding taxes paid on share-based awards | | (782 | ) | | | (2,080 | ) \nOther financing activities, net | | \u2014 | | | | 46 | \nCash flows used in financing activities | | (782 | ) | | | (2,034 | ) \nEffect of foreign currency translation on cash and cash equivalents | | 3,997 | | | | (3,884 | ) \nNet change in cash and cash equivalents | | (355,216 | ) | | | (97,430 | ) \nCash and cash equivalents, beginning of period | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 409,428 | | | $ | 789,543 | \n**Supplemental cash flow information** | | | \nInterest paid | $ | \u2014 | | | $ | \u2014 | \nInterest received | $ | 13,385 | | | $ | 3,490 | \nIncome taxes paid | $ | 32,995 | | | $ | 140 | \n \n** \n**\n\n**Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This\nQuarterly Report refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis Quarterly Report are reconciled to their closest reported U.S. GAAP\nmeasure. Reconciliations of historical adjusted financial measures to\ncorresponding U.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; transaction costs related to strategic projects;\nimpairment loss on other investments; foreign currency transaction loss;\nother, net; loss from discontinued operations; restructuring costs; share-\nbased compensation; and financial statement review costs and reserves related\nto the restatements of our 2019 and 2021 interim financial statements (the\n\u201cRestatements\u201d), including the costs related to the settlement of the\nSecurities and Exchange Commission\u2019s (\u201cSEC\u201d) and the Ontario Securities\nCommission\u2019s (\u201cOSC\u201d) investigations of the Restatements and legal costs\ndefending shareholder class action complaints brought against us as a result\nof the 2019 restatement (see Part II, Item 1 \u201cLegal Proceedings\u201d of this\nQuarterly Report for a discussion of the shareholder class action complaints\nrelating to the restatement of the 2019 interim financial statements and the\nsettlement of the SEC\u2019s and the OSC\u2019s investigations of the Restatements).\nResults are reported as total consolidated results, reflecting our reporting\nstructure of one reportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n| **Three months ended June 30, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (5,663 | ) | | $ | (2,834 | ) | | $ | (8,497 | ) \nInterest income, net | | (12,471 | ) | | | (3 | ) | | | (12,474 | ) \nIncome tax benefit | | (180 | ) | | | \u2014 | | | | (180 | ) \nDepreciation and amortization | | 2,265 | | | | 115 | | | | 2,380 | \nEBITDA | | (16,049 | ) | | | (2,722 | ) | | | (18,771 | ) \nShare of income from equity method investments | | (270 | ) | | | \u2014 | | | | (270 | ) \nImpairment loss on long-lived assets ( i ) | | \u2014 | | | | 205 | | | | 205 | \nGain on revaluation of derivative liabilities (ii) | | (43 | ) | | | \u2014 | | | | (43 | ) \nGain on revaluation of financial instruments (iii) | | (5,193 | ) | | | \u2014 | | | | (5,193 | ) \nForeign currency transaction loss | | 3,174 | | | | \u2014 | | | | 3,174 | \nOther, net (v) | | 26 | | | | 163 | | | | 189 | \nRestructuring costs (vi) | | \u2014 | | | | 534 | | | | 534 | \nShare-based compensation (vii) | | 2,331 | | | | 5 | | | | 2,336 | \nFinancial statement review costs (viii) | | 119 | | | | \u2014 | | | | 119 | \nInventory write-down (ix) | | \u2014 | | | | 839 | | | | 839 | \nAdjusted EBITDA | $ | (15,905 | ) | | $ | (976 | ) | | $ | (16,881 | ) \n \n \n\n| **Three months ended June 30, 2022** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (17,527 | ) | | $ | (2,811 | ) | | $ | (20,338 | ) \nInterest income, net | | (3,775 | ) | | | \u2014 | | | | (3,775 | ) \nIncome tax benefit | | (308 | ) | | | \u2014 | | | | (308 | ) \nDepreciation and amortization | | 3,944 | | | | 283 | | | | 4,227 | \nEBITDA | | (17,666 | ) | | | (2,528 | ) | | | (20,194 | ) \nShare of income from equity method investments | | (5,197 | ) | | | \u2014 | | | | (5,197 | ) \nGain on revaluation of derivative liabilities (ii) | | (3,410 | ) | | | \u2014 | | | | (3,410 | ) \nLoss on revaluation of financial instruments (iii) | | 2,112 | | | | \u2014 | | | | 2,112 | \nForeign currency transaction loss | | 2,852 | | | | \u2014 | | | | 2,852 | \nOther, net (v) | | (49 | ) | | | 47 | | | | (2 | ) \nRestructuring costs (vi) | | 978 | | | | 292 | | | | 1,270 | \nShare-based compensation(vii) | | 2,583 | | | | 33 | | | | 2,616 | \nFinancial statement review costs(viii) | | 1,154 | | | | \u2014 | | | | 1,154 | \nAdjusted EBITDA | $ | (16,643 | ) | | $ | (2,156 | ) | | $ | (18,799 | ) \n \n \n\n| **Six months ended June 30, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (23,698 | ) | | $ | (4,056 | ) | | $ | (27,754 | ) \nInterest income, net | | (23,646 | ) | | | (8 | ) | | | (23,654 | ) \nIncome tax benefit | | (1,616 | ) | | | \u2014 | | | | (1,616 | ) \nDepreciation and amortization | | 4,541 | | | | 244 | | | | 4,785 | \nEBITDA | | (44,419 | ) | | | (3,820 | ) | | | (48,239 | ) \nShare of loss from equity method investments | | 226 | | | | \u2014 | | | | 226 | \nImpairment loss on long-lived assets ( i ) | | \u2014 | | | | 205 | | | | 205 | \nLoss on revaluation of derivative liabilities (ii) | | 22 | | | | \u2014 | | | | 22 | \nLoss on revaluation of financial instruments (iii) | | 2,565 | | | | \u2014 | | | | 2,565 | \nForeign currency transaction loss | | 4,817 | | | | \u2014 | | | | 4,817 | \nOther, net (v) | | (59 | ) | | | 163 | | | | 104 | \nRestructuring costs (vi) | | \u2014 | | | | 534 | | | | 534 | \nShare-based compensation (vii) | | 4,866 | | | | 21 | | | | 4,887 | \nFinancial statement review costs (viii) | | 395 | | | | \u2014 | | | | 395 | \nInventory write-down (ix) | | \u2014 | | | | 839 | | | | 839 | \nAdjusted EBITDA | $ | (31,587 | ) | | $ | (2,058 | ) | | $ | (33,645 | ) \n \n \n\n| **Six months ended June 30, 2022** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,892 | ) | | $ | (7,099 | ) | | $ | (52,991 | ) \nInterest income, net | | (5,820 | ) | | | (1 | ) | | | (5,821 | ) \nIncome tax benefit | | 54 | | | | \u2014 | | | | 54 | \nDepreciation and amortization | | 7,051 | | | | 715 | | | | 7,766 | \nEBITDA | | (44,607 | ) | | | (6,385 | ) | | | (50,992 | ) \nShare of income from equity method investments | | (5,197 | ) | | | \u2014 | | | | (5,197 | ) \nImpairment loss on long-lived assets ( i ) | | 3,493 | | | | \u2014 | | | | 3,493 | \nGain on revaluation of derivative liabilities (ii) | | (13,829 | ) | | | \u2014 | | | | (13,829 | ) \nGain on revaluation of financial instruments (iii) | | (2,156 | ) | | | \u2014 | | | | (2,156 | ) \nImpairment loss on other investments (iv) | | 11,238 | | | | \u2014 | | | | 11,238 | \nForeign currency transaction loss | | 4,724 | | | | \u2014 | | | | 4,724 | \nOther, net (v) | | (184 | ) | | | 47 | | | | (137 | ) \nRestructuring costs (vi) | | 3,009 | | | | 1,345 | | | | 4,354 | \nShare-based compensation (vii) | | 6,199 | | | | 103 | | | | 6,302 | \nFinancial statement review costs (viii) | | 5,216 | | | | \u2014 | | | | 5,216 | \nAdjusted EBITDA | $ | (32,094 | ) | | $ | (4,890 | ) | | $ | (36,984 | ) \n \n \n\n(i) | For the three and six months ended June 30, 2023, impairment loss on long-lived assets related to certain leased properties associated with the Company\u2019s U.S. operations. For the six months ended June 30, 2022, impairment loss on long-lived assets related to the Company\u2019s decision to seek a sublease for leased office space in Toronto, Ontario, Canada during the first quarter of 2022. \n---|--- \n(ii) | For the three and six months ended June 30, 2023 and 2022, (gain) loss on revaluation of derivative liabilities represents the fair value changes on the derivative liabilities. \n(iii) | For the three and six months ended June 30, 2023 and 2022, (gain) loss on revaluation of financial instruments related primarily to the Company\u2019s equity securities in Vitura. \n(iv) | For the six months ended June 30, 2022, impairment loss on other investments related to the PharmaCann Option for the difference between its fair value and carrying amount. \n(v) | For the three and six months ended June 30, 2023 and 2022, other, net related to (gain) loss on disposal of assets. \n(vi) | For the three and six months ended June 30, 2023, restructuring costs related to employee-related severance costs and other restructuring costs associated with our U.S. operations. For the three and six months ended June 30, 2022, restructuring costs related to the employee-related severance costs and other restructuring costs associated with the Realignment, including the change in nature of operations at the Peace Naturals Campus. \n(vii) | For the three and six months ended June 30, 2023 and 2022, share-based compensation related to the non-cash expenses of share-based compensation awarded to employees under the Company\u2019s share-based award plans. \n(viii) | For the three and six months ended June 30, 2023 and 2022, financial statement review costs include costs and reserves taken related to the Restatements, costs related to the Company\u2019s responses to requests for information from various regulatory authorities relating to the Restatements and legal costs incurred defending shareholder class action complaints brought against the Company as a result of the 2019 restatement. \n(ix) | For the three and six months ended June 30, 2023, inventory write-downs relate to product destruction and obsolescence associated with the exit of our U.S. operations. \n \n \n\n**_Constant Currency_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for the three and six months\nended June 30, 2023, as well as cash and cash equivalents and short-term\ninvestment balances as of June 30, 2023 compared to December 31, 2022, which\nare considered non-GAAP financial measures. We present constant currency\ninformation to provide a framework for assessing how our underlying operations\nperformed excluding the effect of foreign currency rate fluctuations. To\npresent this information, current and comparative prior period income\nstatement results in currencies other than U.S. dollars are converted into\nU.S. dollars using the average exchange rates from the three and six month\ncomparative periods in 2022 rather than the actual average exchange rates in\neffect during the respective current periods; constant currency current and\nprior comparative balance sheet information is translated at the prior year-\nend spot rate rather than the current period spot rate. All growth comparisons\nrelate to the corresponding period in 2022. We have provided this non-GAAP\nfinancial information to aid investors in better understanding the performance\nof our operations. The non-GAAP financial measures presented in this Quarterly\nReport should not be considered as a substitute for, or superior to, the\nmeasures of financial performance prepared in accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on a constant currency basis for the three and six\nmonths ended June 30, 2023 compared to the three and six months ended June 30,\n2022 as well as cash and cash equivalents and short-term investments as of\nJune 30, 2023 and December 31, 2022, both on an as-reported and constant\ncurrency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nNet revenue | $ | 19,021 | | | | $ | 21,602 | | | | $ | (2,581 | ) | | (12 | ) | % | | $ | 20,219 | | | | $ | (1,383 | ) | | (6 | ) | % \nGross profit | | 3,099 | | | | | 4,322 | | | | | (1,223 | ) | | (28 | ) | % | | | 3,322 | | | | | (1,000 | ) | | (23 | ) | % \nGross margin | | 16 | | % | | | 20 | | % | | | N/A | | | (4 | ) | pp | | | 16 | | % | | | N/A | | | (4 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nOperating expenses | | 23,719 | | | | | 29,624 | | | | $ | (5,905 | ) | | (20 | ) | % | | | 25,216 | | | | | (4,408 | ) | | (15 | ) | % \nNet income (loss) | | (5,663 | ) | | | | (17,527 | ) | | | | 11,864 | | | 68 | | % | | | (6,716 | ) | | | | 10,811 | | | 62 | | % \nAdjusted EBITDA | | (15,905 | ) | | | | (16,643 | ) | | | | 738 | | | 4 | | % | | | (16,968 | ) | | | | (325 | ) | | (2 | ) | % \n| | | | | | | | | | | | | \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nNet revenue | $ | 38,516 | | | | $ | 44,307 | | | | $ | (5,791 | ) | | (13 | ) | % | | | 41,223 | | | | $ | (3,084 | ) | | (7 | ) | % \nGross profit | | 6,026 | | | | | 11,032 | | | | | (5,006 | ) | | (45 | ) | % | | | 6,520 | | | | | (4,512 | ) | | (41 | ) | % \nGross margin | | 16 | | % | | | 25 | | % | | | N/A | | | (9 | ) | pp | | | 16 | | % | | | N/A | | | (9 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nOperating expenses | | 47,415 | | | | | 68,094 | | | | $ | (20,679 | ) | | (30 | ) | % | | | 50,571 | | | | | (17,523 | ) | | (26 | ) | % \nNet loss | | (23,698 | ) | | | | (45,892 | ) | | | | 22,194 | | | 48 | | % | | | (25,738 | ) | | | | 20,154 | | | 44 | | % \nAdjusted EBITDA | | (31,587 | ) | | | | (32,094 | ) | | | | 507 | | | 2 | | % | | | (33,883 | ) | | | | (1,789 | ) | | (6 | ) | % \n| | | | | | | | | | | | | \n| **As of June 30,** | | **As of December 31,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nCash and cash equivalents | $ | 409,428 | | | | $ | 764,644 | | | | $ | (355,216 | ) | | (46 | ) | % | | $ | 407,775 | | | | $ | (356,869 | ) | | (47 | ) | % \nShort-term investments | | 431,510 | | | | | 113,077 | | | | | 318,433 | | | 282 | | % | | | 421,577 | | | | | 308,500 | | | 273 | | % \nTotal cash and cash equivalents and short-term investments | $ | 840,938 | | | | $ | 877,721 | | | | $ | (36,783 | ) | | (4 | ) | % | | $ | 829,352 | | | | $ | (48,369 | ) | | (6 | ) | % \n \n_ \n_\n\n_Net revenue_\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCannabis flower | $ | 14,014 | | $ | 15,739 | | $ | (1,725 | ) | | (11)% | | $ | 14,955 | | $ | (784 | ) | | (5)% \nCannabis extracts | | 4,926 | | | 5,582 | | | (656 | ) | | (12)% | | | 5,178 | | | (404 | ) | | (7)% \nOther | | 81 | | | 281 | | | (200 | ) | | (71)% | | | 86 | | | (195 | ) | | (69)% \nNet revenue | $ | 19,021 | | $ | 21,602 | | $ | (2,581 | ) | | (12)% | | $ | 20,219 | | $ | (1,383 | ) | | (6)% \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCannabis flower | $ | 27,142 | | $ | 34,364 | | $ | (7,222 | ) | | (21 | ) | % | | $ | 29,158 | | $ | (5,206 | ) | | (15 | ) | % \nCannabis extracts | | 11,227 | | | 9,570 | | | 1,657 | | | 17 | | % | | | 11,909 | | | 2,339 | | | 24 | | % \nOther | | 147 | | | 373 | | | (226 | ) | | (61 | ) | % | | | 156 | | | (217 | ) | | (58 | ) | % \nNet revenue | $ | 38,516 | | $ | 44,307 | | $ | (5,791 | ) | | (13 | ) | % | | $ | 41,223 | | $ | (3,084 | ) | | (7 | ) | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCanada | $ | 13,595 | | $ | 14,389 | | $ | (794 | ) | | (6)% | | $ | 14,293 | | $ | (96 | ) | | (1)% \nIsrael | | 5,426 | | | 7,213 | | | (1,787 | ) | | (25)% | | | 5,926 | | | (1,287 | ) | | (18)% \nNet revenue | $ | 19,021 | | $ | 21,602 | | $ | (2,581 | ) | | (12)% | | $ | 20,219 | | $ | (1,383 | ) | | (6)% \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCanada | $ | 28,029 | | $ | 27,965 | | $ | 64 | | | \u2014 | | % | | $ | 29,701 | | $ | 1,736 | | | 6 | | % \nIsrael | | 10,487 | | | 16,342 | | | (5,855 | ) | | (36 | ) | % | | | 11,522 | | | (4,820 | ) | | (29 | ) | % \nNet revenue | $ | 38,516 | | $ | 44,307 | | $ | (5,791 | ) | | (13 | ) | % | | $ | 41,223 | | $ | (3,084 | ) | | (7 | ) | % \n \n \n\nFor the three months ended June 30, 2023, net revenue on a constant currency\nbasis was $20.2 million, representing a 6% decrease from the three months\nended June 30, 2022. For the six months ended June 30, 2023, net revenue on a\nconstant currency basis was $41.2 million, representing a 7% decrease from the\nsix months ended June 30, 2022. On a constant currency basis, net revenue\ndecreased for the three and six months ended June 30, 2023 primarily due to\nlower cannabis flower sales in Israel due to competitive activity, the\nslowdown in patient permit authorizations and political unrest, and an adverse\nprice/mix in Canada in the cannabis flower category driving increased excise\ntax payments as a percentage of revenue.\n\n_Gross profit_\n\nFor the three months ended June 30, 2023, gross profit on a constant currency\nbasis was $3.3 million, representing a 23% decrease from the three months\nended June 30, 2022. For the six months ended June 30, 2023, gross profit on a\nconstant currency basis was $6.5 million, representing a 41% decrease from the\nsix months ended June 30, 2022. On a constant currency basis, gross profit\ndecreased for the three and six months ended June 30, 2023 primarily due to\nlower cannabis flower sales in the Israeli medical market and adverse\nprice/mix on cannabis flower sales in Canada resulting in higher excise taxes\nas a percentage of revenue.\n\n_Operating expenses_\n\nFor the three months ended June 30, 2023, operating expenses on a constant\ncurrency basis were $25.2 million, representing a 15% decrease from the three\nmonths ended June 30, 2022. For the six months ended June 30, 2023, operating\nexpenses on a constant currency basis were $50.6 million, representing a 26%\ndecrease from the six months ended June 30, 2022. On a constant currency\nbasis, operating expenses decreased for the three and six months ended June\n30, 2023 primarily due to lower professional fees, largely related to\nfinancial statement review costs, lower bonus expense, lower insurance costs,\nlower costs associated with the achievement of Ginkgo milestones and\nimpairment loss on long-lived assets recognized in the prior year.\n\n_Net loss_\n\nFor the three months ended June 30, 2023, net loss on a constant currency\nbasis was $6.7 million, representing a 62% reduction in net loss from the\nthree months ended June 30, 2022. For the six months ended June 30, 2023, net\nloss on a constant currency basis was $25.7 million, representing a 44%\nreduction in net loss from the six months ended June 30, 2022.\n\n_Adjusted EBITDA_\n\nFor the three months ended June 30, 2023, Adjusted EBITDA on a constant\ncurrency basis was $(17.0) million, representing a 2% decrease from the three\nmonths ended June 30, 2022. For the six months ended June 30, 2023, Adjusted\nEBITDA on a constant currency basis was $(33.9) million, representing a 6%\ndecrease from the six months ended June 30, 2022. The decrease in Adjusted\nEBITDA for the three and six months ended June 30, 2023 on a constant currency\nbasis was primarily driven by lower cannabis flower sales in the Israeli\nmedical market and adverse price/mix on cannabis flower sales in Canada\nresulting in higher excise taxes as a percentage of revenue, partially offset\nby decreases in general and administrative expenses primarily due to lower\nbonus expense, insurance costs and professional fees as well as lower costs\nassociated with the achievement of Ginkgo milestones.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis decreased 6% to $829.4 million as of June 30, 2023 from $877.7 million\nas of December 31, 2022. The decrease in cash and cash equivalents and short-\nterm investments is primarily due to cash flows used in operating activities\nin the six months ended June 30, 2023.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this Quarterly Report are stated in U.S. dollars,\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to U.S. dollars. The assets and liabilities of our\nforeign operations are translated into dollars at the exchange rate in effect\nas of June 30, 2023, June 30, 2022, and December 31, 2022. Transactions\naffecting the shareholders\u2019 equity (deficit) are translated at historical\nforeign exchange rates. The condensed consolidated statements of net loss and\ncomprehensive income (loss) and condensed consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the reporting period as reported\non Bloomberg. The exchange rates used to translate from USD to Canadian\ndollars (\u201cC$\u201d) and Israeli New Shekels (\"ILS\") are shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As of** \n---|--- \n| **June 30, 2023** | | **June 30, 2022** | | **December 31, 2022** \nSpot rate | 1.3242 | | 1.2874 | | 1.3554 \nYear-to-date average rate | 1.3474 | | 1.2715 | | N/A \n \n \n\n_(Exchange rates are shown as ILS per $)_ | **As of** \n---|--- \n| **June 30, 2023** | | **June 30, 2022** | | **December 31, 2022** \nSpot rate | 3.7051 | | 3.4936 | | 3.5178 \nYear-to-date average rate | 3.5892 | | 3.267 | | N/A \n \n** \n**\n\n**For further information, please contact:** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n \n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results, providing factual information directly from the company. GlobeNewswire is a reputable source for distributing company news.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Cronos Group Reports 2023 Second Quarter Results.",
"url": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "90a8768e-35d5-4bb7-a21d-f0a36ee7bf56",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://terpenesandtesting.com/cronos-group-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc/"
},
"page_content": "__\n\n[ ](https://terpenesandtesting.com/)\n\nWritten by [ Shared Content\n](https://terpenesandtesting.com/author/sharedcontent/)\n\n_Provides Cronos Group with Additional Capital and Complementary Expertise to\nAccelerate Its Expansion and Innovation in the Rapidly Growing Global Cannabis\nIndustry_\n\nTORONTO, Dec. 7, 2018 /CNW/ \u2013 Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON)\n(\u201cCronos Group\u201d or the \u201cCompany\u201d) today announced that it has entered into a\nsubscription agreement (the \u201cSubscription Agreement\u201d) with Altria Group, Inc.\n(NYSE: MO) (\u201cAltria\u201d) pursuant to which Altria has agreed to make an\napproximately C$2.4 billion equity investment in Cronos Group (the\n\u201cTransaction\u201d) on a private placement basis in exchange for common shares in\nthe capital of the Company (the \u201cShares\u201d). Altria will also receive Warrants\nof Cronos Group (the \u201cWarrants\u201d), that if fully exercised, would provide the\nCompany with an additional approximately C$1.4 billion of proceeds. The Shares\nissuable to Altria pursuant to the Subscription Agreement will result in\nAltria holding an approximately 45% ownership interest in Cronos Group\n(calculated on a non-diluted basis), exercise of the Warrants would result in\nincremental ownership of 10% for a total potential ownership position of 55%.\nThis strategic partnership provides Cronos Group with additional financial\nresources, product development and commercialization capabilities, and deep\nregulatory expertise to better position the Company to compete, scale and lead\nthe rapidly growing global cannabis industry.\n\n\u201cAltria is the ideal partner for Cronos Group, providing the resources and\nexpertise we need to meaningfully accelerate our strategic growth,\u201d said\nCronos Group\u2019s Mike Gorenstein, Chairman, President and Chief Executive\nOfficer. \u201cThe proceeds from Altria\u2019s investment will enable us to more quickly\nexpand our global infrastructure and distribution footprint, while also\nincreasing investments in R&D and brands that resonate with our consumers.\nImportantly, Altria shares our vision of driving long-term value through\ninnovation, and we look forward to continuing to differentiate in this area.\nAs one of the largest holding companies in the adult consumer products sector,\nAltria has decades of experience in regulatory, government affairs,\ncompliance, product development and brand management that we expect to\nleverage, particularly as new markets for cannabis open around the world.\u201d\n\n\u201cInvesting in Cronos Group as our exclusive partner in the emerging global\ncannabis category represents an exciting new growth opportunity for Altria,\u201d\nsaid Howard Willard, Altria\u2019s Chairman and Chief Executive Officer. \u201cWe\nbelieve that Cronos Group\u2019s excellent management team has built capabilities\nnecessary to compete globally, and we look forward to helping Cronos Group\nrealize its significant growth potential.\u201d\n\n**Benefits of the Transaction**\n\n * **Accelerates Cronos Group\u2019s pace of growth and expansion.** The growth opportunities for Cronos Group are significant and extend across the globe as markets open. With Altria\u2019s resources, Cronos Group expects to be even better positioned to support cannabinoid innovation, create differentiated products and brands across medicinal and recreational categories, and expand its global footprint and growing production capacity. \n * **Bolsters Cronos Group\u2019s ability to be an innovation leader in the cannabis industry.** Cronos Group\u2019s research collaborations with Gingko Bioworks to develop cultured cannabinoids and its partnership with the Technion Research and Development Foundation for cannabinoid-based skin care treatments are just two recent examples of how the Cronos Group intends to use innovation and its growing intellectual property portfolio to develop new applications for cannabinoids across a range of products and categories. Altria shares Cronos Group\u2019s commitment to innovation, medical cannabis research and state of the art product development. \n * **Leverages Altria\u2019s product design, manufacturing, marketing and distribution capabilities and expertise.** Cronos Group expects to work with Altria to rapidly expand its product offerings in markets as regulations permit, including device technology. Altria has significant expertise that can serve as building blocks for cannabis vape products. Altria also brings considerable experience with large-scale manufacturing automation, pre-roll technology and supply chain management. In addition, by investing the incremental capital, Cronos Group expects to enhance its attractiveness as a potential partner to other medicinal and consumer focused partners that may work with the Company to further expand its product offerings and distribution capabilities for the benefit of its shareholders. \n * **Provides expertise in successfully navigating complex regulatory landscapes.** Altria has a strong record of managing multi-faceted regulatory, compliance and government affairs environments related to taxation, product registration, shipping and other legal issues that Cronos Group expects to be able to leverage as cannabis markets develop and open around the world. \n * **Raises capital at a premium valuation and delivers even greater upside opportunities for Cronos Group shareholders, employees and partners.** Under the terms of the agreement, Altria has agreed to acquire 146.2 million Shares at a price of C$16.25 per Share. The price per Share represents a 41.5% premium to the Company\u2019s 10-day volume weighted average price (\u201cVWAP\u201d) on the TSX, ending November 30, 2018, the last unaffected trading day prior to when Cronos Group publicly disclosed preliminary discussions with Altria. The strategic investment combined with Altria\u2019s expertise and complementary capabilities are expected to better position Cronos Group for significant growth and value creation with benefits to all of the Company\u2019s stakeholders, including its holders of Shares (the \u201cShareholders\u201d), employees and partners. \n\n**Board Recommendation**\n\nThe Board of Directors of Cronos Group (the \u201cBoard\u201d), after consultation with\nits legal and financial advisors, has unanimously determined that the\nTransaction is in the best interest of Cronos Group and is unanimously\nrecommending that Shareholders vote in favor of the Transaction. The Board has\nreceived an opinion from its financial advisor, Lazard Canada Inc., that as of\nthe date thereof and subject to the assumptions, qualifications and\nlimitations set forth therein, the consideration to be received by the Company\npursuant to the Transaction is fair, from a financial point of view, to the\nCompany.\n\n**Key Transaction Terms**\n\n**_Equity Investment_ **\n\nPursuant to the Subscription Agreement, Altria has agreed to acquire 146.2\nmillion Shares at closing at a price of C$16.25 per Share, which represents a\n41.5% premium to the 10-day VWAP of the Shares on the TSX on November 30,\n2018, the last unaffected trading day prior to when Cronos Group publicly\ndisclosed preliminary discussions with Altria.\n\nAltria will also receive Warrants at closing entitling it to acquire up to an\nadditional 10% ownership position in the Company exercisable from time to\ntime, for a period of four years following closing for an exercise price of\nC$19.00 per Share, which represents an implied premium of 65.5% to the 10-day\nVWAP of the Shares on the TSX on November 30, 2018. Altria\u2019s ownership\ninterest in Cronos Group would be approximately 55% (calculated on a non-\ndiluted basis). Additionally, the Warrants will contain certain anti-dilution\nprovisions.\n\n**_Governance Rights_ **\n\nPursuant to an investor rights agreement to be entered into, at closing (the\n\u201cInvestor Rights Agreement\u201d), Altria will have the right to nominate four\ndirectors, including one independent director, to serve on the Board of\nDirectors of Cronos Group, which will be expanded from five to seven directors\nin connection with the Transaction.\n\n**_Altria\u2019s Exclusive Cannabis Partner_ **\n\nUnder the Investor Rights Agreement, Altria has agreed to make Cronos Group\nits exclusive partner for pursuing cannabis opportunities throughout the world\n(subject to certain limited exceptions.\n\nAt closing, the parties are also expected to enter into commercial support\nagreements under which Altria will provide services relating to marketing and\nbrand management, government affairs, regulatory affairs, and research and\ndevelopment.\n\n**_Closing and Approvals_ **\n\nThe Transaction is expected to close in the first half of 2019, subject to\ncertain customary closing conditions including the receipt of approval from\nthe TSX, and receipt of regulatory approval pursuant to the _Investment Canada\nAct_ . In addition, under applicable TSX rules, the Transaction will require\napproval by at least the majority of the votes cast by Shareholders present at\na special meeting of Shareholders as the Transaction is expected to materially\naffect control of Cronos Group.\n\n**_Additional Information_ **\n\nFurther information regarding the transaction will be included in the\nmanagement information circular to be mailed to Shareholders in connection\nwith the Company\u2019s special meeting of Shareholders to approve the transaction.\nCopies of the Subscription Agreement and the agreements attached thereto as\nexhibits, including the form of Warrant and the form of Investor Rights\nAgreement, will be filed on the Company\u2019s profile on SEDAR at [ www.sedar.com\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj1Dv0kOTDBR75uA624SqEK4-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYeUqIsfuSxoS4Gq5JVyIBJTeVzNVA57ThVCul94GzgkLrNL7jrwzNcgAD-2F3tL-2B9MvXGJmJLAFP6tL-2BFg0T25I6SV1pWKPQTreEkP85U2eh5lS4ogjPOOnKJA-2FTM-2BLcmlqjsuYxx9ski3HtbEY9ISktq)\nand EDGAR at [ www.sec.gov\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj-2Fh0aYGGdr3Ge9-2BmoVUyixo-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYdJklp0GMRWrXXZpjrf27l-2BdDn6J-2FYgB21zvAJJfTywDPuMLj8Dam1OjIyy1Ge0SGn4jqOo3TGWBMOikKnAPppyCyPJSRt7mTNJD8R8JxXaRI63sebGPlK-2FVLSL9-2BNiaN7oP-2Fl3DNAesLzJ4G2WFNxY)\n. The above descriptions of the terms and conditions of the Subscription\nAgreement and the agreements attached thereto as exhibits, including the form\nof Warrant and the form of Investor Rights Agreement, are qualified in their\nentirety by the terms of the Subscription Agreement which will be filed on the\nCompany\u2019s profile on SEDAR at [ www.sedar.com\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj1Dv0kOTDBR75uA624SqEK4-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYcWczWSO3ECk0CdHBvsJGd-2FzOdI3AdRd-2B-2BK6-2B4coKwV3tWn-2F5p075Hj4iCYrFuec6J1QBFmvTpPZXOB9DEaJMh8Gn-2FPYAhAWtGqj3zlrbkwE74WTvB8A0VowSntApsfEfRGzicxoWyTqzL4nsdfQfk9)\nand EDGAR at [ www.sec.gov\n](http://email.prnewswire.com/wf/click?upn=TwIh0OIjG8BOSB67uKqqj-2Fh0aYGGdr3Ge9-2BmoVUyixo-3D_uY0eif8GKUcAlb-2B0UMl-2FBd81zfik9uA5J-2BGqewLYGRQRqhyDtlptY9ozAws7mtTgnQhuu7m42oVUAJZ0i-2Ba5Bp9qmnMp4AYH2F75DuoWRU5ZPhWFPFYr9T0yTwq-2BsXzzHc7gt5xmhurO3kxl8q-2BRdEgIduvmPjtlkhRfmndLK8vNgAdu7dpbVqDc8W4Pa0U95J4xGKNvmohL7l1vaiihjPUKn0ncYU2zaRARbDGfGYc4KGIVLxPJQMc24T2uQvUVcLynvGFO-2FSyzJIClp-2F8FhMrCWg6d98CGpsh7REpRYWRrpb5998j-2BRmgqKq6giBWMALv52OShOxbnwzt1sLYcJ7H46TgGugWVn4SNzeqsAjokA02Htxi57PshescDXvph)\n.\n\n**Advisors**\n\nLazard Canada Inc. is serving as financial advisor to Cronos Group, and\nSullivan & Cromwell LLP and Blake, Cassels&Graydon LLP are legal counsel.\n\nPerella Weinberg Partners LP is serving as financial advisor to Altria, and\nWachtell, Lipton, Rosen & Katz and Goodmans LLP are legal counsel. Hunton\nAndrews Kurth LLP is providing legal counsel to Altria regarding the\nfinancing.\n\n**About Cronos**\n\nCronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across five continents. Cronos Group operates two\nwholly-owned Canadian licensed producers: Peace Naturals Project Inc., which\nwas the first non-incumbent medical cannabis license granted by Health Canada,\nand Original BC Ltd., which is based in the Okanagan Valley, British Columbia.\nCronos Group has multiple international production and distribution platforms\nacross five continents. Cronos Group intends to continue to rapidly expand its\nglobal footprint as it focuses on building an international iconic brand\nportfolio and developing disruptive intellectual property. Cronos Group is\ncommitted to building industry leading companies that transform the perception\nof cannabis and responsibly elevate the consumer experience.\n\n**About Altria**\n\nAltria\u2019s wholly-owned subsidiaries include Philip Morris USA Inc., U.S.\nSmokeless Tobacco Company LLC, John Middleton Co., Sherman Group Holdings, LLC\nand its subsidiaries, Nu Mark LLC, Ste. Michelle Wine Estates Ltd. (Ste.\nMichelle) and Philip Morris Capital Corporation. Altria holds an equity\ninvestment in Anheuser-Busch InBev SA/NV (AB InBev).\n\nThe brand portfolios of Altria\u2019s tobacco operating companies include\nMarlboro\u00ae, Black & Mild\u00ae, Copenhagen\u00ae, Skoal\u00ae, VERVE\u00ae, MarkTen\u00ae and Green\nSmoke\u00ae. Ste. Michelle produces and markets premium wines sold under various\nlabels, including Chateau Ste. Michelle\u00ae, Columbia Crest\u00ae, 14 Hands\u00ae and\nStag\u2019s Leap Wine Cellars\u2122, and it imports and markets Antinori\u00ae, Champagne\nNicolas Feuillatte\u2122, Torres\u00ae and Villa Maria Estate\u2122 products in the United\nStates. Trademarks and service marks related to Altria referenced in this\nrelease are the property of Altria or its subsidiaries or are used with\npermission. More information about Altria is available at [ altria.com\n](http://altria.com/) and on the Altria Investor app.\n\nTake a closer look at Altria and its companies on [ altria.com\n](http://altria.com/) .\n\nFollow Altria on Twitter at @AltriaNews.\n\n**Forward-Looking Statements**\n\nThis communication contains \u201cforward-looking information\u201d and \u201cforward-looking\nstatements\u201d within the meaning of applicable securities laws (collectively,\n\u201cforward-looking statements\u201d). All statements contained herein that are not\nclearly historical in nature may constitute forward-looking statements. In\nsome cases, forward-looking statements can be identified by words or phrases\nsuch as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201clikely\u201d, \u201cshould\u201d, \u201cwould\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the\nnegative of these terms, or other similar words, expressions and grammatical\nvariations thereof, or statements that certain events or conditions \u201cmay\u201d or\n\u201cwill\u201d happen, or by discussions of strategy. Forward-looking statements\ninclude estimates, plans, expectations, opinions, forecasts, projections,\ntargets, guidance or other statements that are not statements of historical\nfact. Forward-looking statements are provided for the purposes of assisting\nthe reader in understanding our financial performance, financial position and\ncash flows as at and for periods ended on certain dates and to present\ninformation about management\u2019s current expectations and plans relating to the\nfuture and the reader is cautioned that such information may not be\nappropriate for any other purpose. Some of the forward-looking statements\ncontained in this communication, include, but are not limited to, statements\nwith respect to: the proposed investment by Altria Group in Cronos Group (the\n\u201cproposed transaction\u201d), our business and operations, our strategy for future\ngrowth, expanding our global footprint, including the timing thereof, our\nintention to build an international iconic brand portfolio and develop\ndisruptive intellectual property and our ability to build an industry leading\ncompany that transforms the perception of cannabis and responsibly elevates\nthe consumer experience. No forward-looking statement can be guaranteed and\nCronos Group cannot guarantee the future statements contained herein. Forward-\nlooking statements are based upon certain material assumptions that were\napplied in drawing a conclusion or making a forecast or projection, including\nmanagement\u2019s perceptions of historical trends, current conditions and expected\nfuture developments, as well as other considerations that are believed to be\nappropriate in the circumstances. While we consider these assumptions to be\nreasonable based on information then currently available to management, there\nis no assurance that such expectations will prove to be correct. By their\nnature, forward-looking statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nforward-looking statements in this communication. Such factors include,\nwithout limitation, the ability to complete the proposed transaction between\nCronos Group and Altria Group on anticipated terms and timetable; the ability\nto obtain approval by the shareholders of Cronos Group related to the proposed\ntransaction and the ability to satisfy various other conditions to the closing\nof the transaction contemplated by the subscription agreement; the ability to\nobtain governmental approvals of the proposed transaction on the proposed\nterms and schedule, any conditions imposed on the parties in connection with\nconsummation of the proposed transaction; the risk that the cost savings and\nany other synergies from the proposed transaction may not be fully realized or\nmay take longer to realize than expected; disruption from the proposed\ntransaction making it more difficult to maintain relationships with customers,\nemployees or suppliers; future levels of revenues; consumer demand for\ncannabis products; Cronos Group\u2019s ability to manage disruptions in credit\nmarkets or changes to its credit rating; future levels of capital,\nenvironmental or maintenance expenditures, general and administrative and\nother expenses; the success or timing of completion of ongoing or anticipated\ncapital or maintenance projects; the business strategies, growth opportunities\nand expected investment; the adequacy of our capital resources and liquidity,\nincluding but not limited to, availability of sufficient cash flow to execute\nour business plan (either within the expected timeframe or at all); the\npotential effects of judicial or other proceedings on our business, financial\ncondition, results of operations and cash flows; continued or further\nvolatility in and/or degradation of general economic, market, industry or\nbusiness conditions; compliance with applicable environmental, economic,\nhealth and safety, energy and other policies and regulations; the anticipated\neffects of actions of third parties such as competitors, activist investors or\nfederal (including U.S. federal), state, provincial, territorial or local\nregulatory authorities, self-regulatory organizations or plaintiffs in\nlitigation; and the factors discussed in CronosGroup\u2019s current MD&A and Annual\nInformation Form, both of which have been filed on SEDAR and EDGAR and can be\naccessed at [ www.sedar.com ](http://www.sedar.com/) and [ www.sec.gov\n](http://www.sec.gov/) , respectively. Readers are cautioned to consider these\nand other factors, uncertainties and potential events carefully and not to put\nundue reliance on forward-looking statements. Forward-looking statements\ncontained herein are made as of the date of this communication and are based\non the beliefs, estimates, expectations and opinions of management on the date\nsuch forward-looking statements are made. Cronos Group undertakes no\nobligation to update or revise any forward-looking statements, whether as a\nresult of new information, estimates or opinions, future events or results or\notherwise or to explain any material difference between subsequent actual\nevents and such forward-looking statements, except as required by applicable\nlaw or regulation.\n\nSOURCE Cronos Group Inc.\n\nFacebook Twitter Pinterest LinkedIn\n\n### You may also like\n\n[ ](https://terpenesandtesting.com/cannabis-improves-quality-of-life-of-\npatients-with-chronic-disease-uk-study/ \"Cannabis Improves Quality of Life of\nPatients With Chronic Disease: UK Study\")\n\n[ ](https://terpenesandtesting.com/cannabis-for-joint-surgery-heres-what-a-\nstudy-found/ \"Cannabis For Joint Surgery: Here\u2019s What a Study Found\")\n\n[ ](https://terpenesandtesting.com/cannabis-relieves-tinnitus-related-\nsymptoms-study-finds/ \"Cannabis Relieves Tinnitus-related Symptoms: Study\nFinds\")\n\n[ ](https://terpenesandtesting.com/cannabis-terpene-profiles-matter-new-study-\nreveals/ \"Cannabis Terpene Profiles Matter: New Study Reveals\")\n\n[ ](https://terpenesandtesting.com/cannabis-use-does-not-impair-lung-function-\nstudy-finds/ \"Cannabis Use Does Not Impair Lung Function: Study Finds\")\n\n[ ](https://terpenesandtesting.com/new-study-de-links-cannabis-legalization-\nwith-increased-rates-of-psychosis/ \"New Study De-Links Cannabis Legalization\nWith Increased Rates of Psychosis\")\n\n### About the author\n\n#### Shared Content\n\n[ View all posts ](https://terpenesandtesting.com/author/sharedcontent/)\n\n### Leave a Comment [ X ](/cronos-group-inc-announces-2-4-billion-strategic-\ninvestment-from-altria-group-inc/#respond)\n\nYou must be [ logged in\n](https://terpenesandtesting.com/tnt16/?redirect_to=https%3A%2F%2Fterpenesandtesting.com%2Fcronos-\ngroup-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc%2F)\nto post a comment.\n\n#### Talked About\n\n * [ ](https://terpenesandtesting.com/cannabis-improves-quality-of-life-of-patients-with-chronic-disease-uk-study/ \"Cannabis Improves Quality of Life of Patients With Chronic Disease: UK Study\")\n\n[ Cannabis Improves Quality of Life of Patients With...\n](https://terpenesandtesting.com/cannabis-improves-quality-of-life-of-\npatients-with-chronic-disease-uk-study/ \"Cannabis Improves Quality of Life of\nPatients With Chronic Disease: UK Study\")\n\n * [ ](https://terpenesandtesting.com/raphael-mechoulam-dies-at-92-quotes-to-remember/ \"Raphael Mechoulam Dies at 92: Quotes To Remember\")\n\n[ Raphael Mechoulam Dies at 92: Quotes To Remember\n](https://terpenesandtesting.com/raphael-mechoulam-dies-at-92-quotes-to-\nremember/ \"Raphael Mechoulam Dies at 92: Quotes To Remember\")\n\n * [ ](https://terpenesandtesting.com/cannabis-for-joint-surgery-heres-what-a-study-found/ \"Cannabis For Joint Surgery: Here\u2019s What a Study Found\")\n\n[ Cannabis For Joint Surgery: Here\u2019s What a Study Found\n](https://terpenesandtesting.com/cannabis-for-joint-surgery-heres-what-a-\nstudy-found/ \"Cannabis For Joint Surgery: Here\u2019s What a Study Found\")\n\n * [ ](https://terpenesandtesting.com/researchers-warn-that-daily-cannabis-use-can-cause-heart-disease/ \"Researchers Warn That Daily Cannabis Use Can Cause Heart Disease\")\n\n[ Researchers Warn That Daily Cannabis Use Can Cause...\n](https://terpenesandtesting.com/researchers-warn-that-daily-cannabis-use-can-\ncause-heart-disease/ \"Researchers Warn That Daily Cannabis Use Can Cause Heart\nDisease\")\n\n * [ ](https://terpenesandtesting.com/cannabis-relieves-tinnitus-related-symptoms-study-finds/ \"Cannabis Relieves Tinnitus-related Symptoms: Study Finds\")\n\n[ Cannabis Relieves Tinnitus-related Symptoms: Study...\n](https://terpenesandtesting.com/cannabis-relieves-tinnitus-related-symptoms-\nstudy-finds/ \"Cannabis Relieves Tinnitus-related Symptoms: Study Finds\")\n\n * [ ](https://terpenesandtesting.com/cannabis-terpene-levels-indoor-vs-outdoor-grow/ \"Cannabis Terpene Levels: Indoor Vs Outdoor Grow\")\n\n[ Cannabis Terpene Levels: Indoor Vs Outdoor Grow\n](https://terpenesandtesting.com/cannabis-terpene-levels-indoor-vs-outdoor-\ngrow/ \"Cannabis Terpene Levels: Indoor Vs Outdoor Grow\")\n\n * [ ](https://terpenesandtesting.com/are-magic-mushrooms-legal-in-canada/ \"Are Magic Mushrooms Legal In Canada?\")\n\n[ Are Magic Mushrooms Legal In Canada? ](https://terpenesandtesting.com/are-\nmagic-mushrooms-legal-in-canada/ \"Are Magic Mushrooms Legal In Canada?\")\n\n#### Video of the Week\n\n#### Join Us\n\n * [ instagram ](https://www.instagram.com/terpenesandtestingmagazine/?hl=en \"Instagram\")\n * [ facebook ](https://www.facebook.com/terpenesandtestingmagazine/ \"Facebook\")\n * [ linkedin ](https://www.linkedin.com/company/terpenesandtestingmagazine/ \"Linkedin\")\n\n[ ](https://terpenesandtesting.com/feed/)\n\n[ Privacy Policy ](https://terpenesandtesting.com/privacy-policy/) \\- [ Terms\nof Use ](https://terpenesandtesting.com/terms-of-use/)\n\nCopyright \u00ae2022 - Terpenes and Testing Magazine - All rights reserved. A [\nDeep Medium ](https://deepmedium.com/) Website\n\n[ __ ](javascript:void\\(0\\))\n\n",
"url": "https://terpenesandtesting.com/cronos-group-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc/"
},
"reason": "Terpenes and Testing is a trade publication covering the cannabis industry. This article reports on Cronos Group's strategic investment from Altria, providing factual information. While the source is industry-specific, the information is generally reliable.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Cronos Group Inc. announces $2.4 billion strategic investment from Altria Group Inc.",
"url": "https://terpenesandtesting.com/cronos-group-inc-announces-2-4-billion-strategic-investment-from-altria-group-inc/"
},
{
"content": {
"metadata": {
"ext_id": "a40bdad2-ece1-455e-89bd-ead5be5c78d3",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://industrialcyber.co/ransomware/global-law-enforcement-agencies-crack-down-on-lockbit-group-as-operation-cronos-dismantles-ransomware-site/"
},
"page_content": "[ Home ](https://industrialcyber.co \"Go to Industrial Cyber.\") [ Attacks and\nVulnerabilities ](https://industrialcyber.co/category/threats-attacks/ \"Go to\nthe Attacks and Vulnerabilities category archives.\") Global law enforcement\nagencies crack down on LockBit group, as Operation Cronos dismantles\nransomware site\n\n### [ EVENT: Join Industrial Cyber Days 2025 Premier Manufacturing Event -\nDesigned for practitioners, by practitioners https://industrialcyber.co\n](https://industrialcyber.co/order_ads?sid=14&bsa_pro_id=246&bsa_pro_url=1)\n\n[ Attacks and Vulnerabilities ](https://industrialcyber.co/category/threats-\nattacks/)\n\n[ Critical infrastructure ](https://industrialcyber.co/category/critical-\ninfrastructure/)\n\n[ Malware, Phishing & Ransomware\n](https://industrialcyber.co/category/ransomware/)\n\n[ News ](https://industrialcyber.co/category/news/)\n\n[ Threat Landscape ](https://industrialcyber.co/category/threat-landscape/)\n\n# Global law enforcement agencies crack down on LockBit group, as Operation\nCronos dismantles ransomware site\n\nFebruary 20, 2024\n\nGlobal law enforcement agencies, including Europol, the U.S. Federal Bureau of\nInvestigation (FBI), and the U.K.\u2019s National Crime Agency, have dismantled a\ndark web site linked to the notorious [ LockBit ransomware\n](https://industrialcyber.co/?s=Lockbit) group. Executed as \u2018Operation\nCronos,\u2019 the action is [ part of ](https://www.axios.com/2024/02/19/lockbit-\nransomware-takedown-operation) an ongoing international effort to combat\ncybercrime. The dark web site, which LockBit used to publicly reveal the\nidentities of victims refusing to pay a ransom for the release of their\nencrypted systems, was replaced with a law enforcement notice on Monday.\n\nA post on the gang\u2019s extortion website said \u201cThis site is now under the\ncontrol of the National Crime Agency of the UK, working in close cooperation\nwith the FBI and the international law enforcement task force, \u2018Operation\nCronos.\u201d The post also named other international police organizations from\nFrance, Japan, Switzerland, Canada, Australia, Sweden, the Netherlands,\nFinland and Germany.\n\nThe full scale of Operation Cronos is expected to also include a handful of\narrests, [ sanctions ](https://www.axios.com/2023/02/09/us-uk-sanction-\nrussian-cybercrime-gang-trickbot-members) , or further takedowns of key web\ninfrastructure, including servers that LockBit ran on. Given that the\noperators behind the LockBit hacker group are thought to be located in Russia,\narresting them is considered both unlikely and challenging to execute.\n\nAccording to cybersecurity research website vx-underground, LockBit said in a\nstatement in Russian and [ shared on\n](https://twitter.com/vxunderground/status/1759703708785365068) X, formerly\nknown as Twitter, that the FBI hit its servers that run on the programming\nlanguage PHP, adding that \u201cbackup servers without PHP are not touched.\u201d\n\nIn a separate Twitter message, the company [ disclosed\n](https://twitter.com/vxunderground/status/1759693943942287543) that \u201cevery\nsingle known Lockbit ransomware group website is either offline or displaying\na seized by EUROPOL page. It appears law enforcement has seized and/or taken\ndown, at minimum, 22 Tor sites, in what is labeled \u2018Operation Cronos\u2019.\u201d\n\nIt [ also shared\n](https://twitter.com/vxunderground/status/1759708760929390879/photo/1) a\nscreenshot revealing what LockBit affiliates encounter when attempting to log\ninto the LockBit panel.\n\nThe U.S. Cybersecurity and Infrastructure Security Agency (CISA) [ identified\nthat ](https://industrialcyber.co/news/global-cybersecurity-agencies-detail-\ncyber-threat-from-lockbit-ransomware-hackers/) the LockBit ransomware\noperation functions as a Ransomware-as-a-Service (RaaS) model where affiliates\nare recruited to conduct ransomware attacks using LockBit ransomware tools and\ninfrastructure.\n\nDue to the large number of unconnected affiliates in the operation, LockBit\nransomware attacks vary significantly in observed tactics, techniques, and\nprocedures (TTPs). This variance in observed ransomware TTPs presents a\nnotable challenge for organizations working to maintain network security and\nprotect against a ransomware threat.\n\nAdditionally, the FBI reports that since 2020, there have been approximately\n1,700 instances of LockBit ransomware attacks within the U.S. Since the\ninitial detection of LockBit\u2019s activities in the U.S. on Jan. 5, 2020, the\ntotal sum of ransoms paid to LockBit by U.S. entities is estimated to be\naround $91 million. At the time, the LockBit-named ransomware was first seen\non Russian-language based cybercrime forums.\n\nAnna Ribeiro\n\nIndustrial Cyber News Editor. Anna Ribeiro is a freelance journalist with over\n14 years of experience in the areas of security, data storage, virtualization\nand IoT.\n\n[ ](https://industrialcyber.co/author/annaribeiro/)\n\n### [ EVENT: Join Industrial Cyber Days 2025 Premier Manufacturing Event -\nDesigned for practitioners, by practitioners https://industrialcyber.co\n](https://industrialcyber.co/order_ads?sid=14&bsa_pro_id=246&bsa_pro_url=1)\n\n## Related\n\n[ ](https://industrialcyber.co/reports/fbis-internet-crime-\nreport-2024-records-16-6-billion-in-cybercrime-losses-amid-rising-ransomware-\nthreats/)\n\n[ FBI\u2019s Internet Crime Report 2024 records $16.6 billion in cybercrime losses\namid rising ransomware threats ](https://industrialcyber.co/reports/fbis-\ninternet-crime-report-2024-records-16-6-billion-in-cybercrime-losses-amid-\nrising-ransomware-threats/)\n\n[ ](https://industrialcyber.co/reports/verizons-2025-dbir-report-finds-spike-\nin-cyberattacks-complexity-in-threat-landscape-amid-rising-supply-chain-\nthreats/)\n\n[ Verizon\u2019s 2025 DBIR report finds spike in cyberattacks, complexity in threat\nlandscape amid rising supply chain threats\n](https://industrialcyber.co/reports/verizons-2025-dbir-report-finds-spike-in-\ncyberattacks-complexity-in-threat-landscape-amid-rising-supply-chain-threats/)\n\n[ ](https://industrialcyber.co/news/palindrome-technologies-joins-isasecure-\nprogram-advancing-industrial-cybersecurity-standards/)\n\n[ Palindrome Technologies joins ISASecure Program, advancing industrial\ncybersecurity standards ](https://industrialcyber.co/news/palindrome-\ntechnologies-joins-isasecure-program-advancing-industrial-cybersecurity-\nstandards/)\n\n[ ](https://industrialcyber.co/news/stratodesk-expands-presence-in-industrial-\nmanufacturing-sectors-while-redefining-ot-endpoint-management/)\n\n[ Stratodesk expands presence in industrial, manufacturing sectors, while\nredefining OT endpoint management\n](https://industrialcyber.co/news/stratodesk-expands-presence-in-industrial-\nmanufacturing-sectors-while-redefining-ot-endpoint-management/)\n\n[ ](https://industrialcyber.co/news/netrise-expands-executive-team-to-\naccelerate-growth-drive-global-go-to-market-strategy/)\n\n[ NetRise expands executive team to accelerate growth, drive global go-to-\nmarket strategy ](https://industrialcyber.co/news/netrise-expands-executive-\nteam-to-accelerate-growth-drive-global-go-to-market-strategy/)\n\n[ ](https://industrialcyber.co/training-development/cisa-dhs-inl-host-lsu-to-\nstrengthen-cyber-defense-training-across-critical-infrastructure-sector/)\n\n[ CISA, DHS, INL host LSU to strengthen cyber defense training across critical\ninfrastructure sector ](https://industrialcyber.co/training-development/cisa-\ndhs-inl-host-lsu-to-strengthen-cyber-defense-training-across-critical-\ninfrastructure-sector/)\n\n[ ](https://industrialcyber.co/control-device-security/cisa-flags-critical-\nics-vulnerabilities-in-siemens-schneider-electric-abb-equipment-affecting-\ncritical-sectors/)\n\n[ CISA flags critical ICS vulnerabilities in Siemens, Schneider Electric, ABB\nequipment affecting critical sectors ](https://industrialcyber.co/control-\ndevice-security/cisa-flags-critical-ics-vulnerabilities-in-siemens-schneider-\nelectric-abb-equipment-affecting-critical-sectors/)\n\n[ ](https://industrialcyber.co/news/thales-and-deloitte-align-to-offer-\nadvanced-cybersecurity-solutions-boost-cloud-and-data-security-dervices/)\n\n[ Thales and Deloitte align to offer advanced cybersecurity solutions, boost\ncloud and data security devices ](https://industrialcyber.co/news/thales-and-\ndeloitte-align-to-offer-advanced-cybersecurity-solutions-boost-cloud-and-data-\nsecurity-dervices/)\n\n[ ](https://industrialcyber.co/critical-infrastructure/mitres-\nemb3d-2-0-update-improves-threat-coverage-stix-integration-for-better-\nsecurity-tools-compatibility/)\n\n[ MITRE\u2019s EMB3D 2.0 update improves threat coverage, STIX integration for\nbetter security tools compatibility ](https://industrialcyber.co/critical-\ninfrastructure/mitres-emb3d-2-0-update-improves-threat-coverage-stix-\nintegration-for-better-security-tools-compatibility/)\n\n[ ](https://industrialcyber.co/threats-attacks/mitre-attck-v17-offers-broader-\nplatform-coverage-enhanced-defensive-guidance-threat-intelligence-tracking/)\n\n[ MITRE ATT&CK v17 offers broader platform coverage, enhanced defensive\nguidance, threat intelligence tracking ](https://industrialcyber.co/threats-\nattacks/mitre-attck-v17-offers-broader-platform-coverage-enhanced-defensive-\nguidance-threat-intelligence-tracking/)\n\n## Join the Industrial Cyber Community\n\nGet the latest breaking OT/ICS news, access the resources and participate in\nour ICS Forum.\n\n[ Register ](//industrialcyber.co/register/)\n\n[ ](https://industrialcyber.co/)\n\nFollow Us\n\n[ ](https://www.linkedin.com/company/industrialcyber/ \"LinkedIn\") [\n](https://twitter.com/IndustCybersec \"Twitter\")\n\nCopyright \u00a9 2025 Industrial Cyber\n\nAll rights reserved | [ Terms and Conditions ](https://www.expertmi.com/terms-of-use/)\n\n[ Privacy Policy ](https://www.expertmi.com/privacy-policy/) | [ Cookie Policy ](https://www.expertmi.com/cookie-policy/)\n\n",
"url": "https://industrialcyber.co/ransomware/global-law-enforcement-agencies-crack-down-on-lockbit-group-as-operation-cronos-dismantles-ransomware-site/"
},
"reason": "This article mentions 'Operation Cronos' which dismantled a ransomware site. While the name is similar, it is not directly related to the target company 'The Cronos Group' as defined in the instructions. Therefore, it should not be included based on the instructions.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' risk regulatory compliance",
"summary": "Global law enforcement agencies crack down on LockBit group as Operation Cronos dismantles ransomware site.",
"url": "https://industrialcyber.co/ransomware/global-law-enforcement-agencies-crack-down-on-lockbit-group-as-operation-cronos-dismantles-ransomware-site/"
},
{
"content": {
"metadata": {
"ext_id": "9fa21bdc-1136-4fb4-8d82-2a65c3bb72d0",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
"page_content": "Please enable JS and disable any ad blocker\n\n",
"url": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
"reason": "This article from Barron's discusses environmental concerns related to the marijuana industry. While it doesn't focus solely on The Cronos Group, it provides insights into the environmental impact of cannabis companies, which is relevant to the search query. Barron's is a reputable source, increasing the reliability score.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' environmental impact carbon footprint",
"summary": "Barron's article discusses environmental issues facing marijuana stocks.",
"url": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
{
"content": {
"metadata": {
"ext_id": "510eb38e-0ec3-4fcc-8cea-2cd6d6e60621",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.benzinga.com/markets/cannabis/23/04/31932290/cronos-releases-cannabinoid-life-cycle-study-highlighting-its-sustainable-fermentation-practices"
},
"page_content": "[ ](/)\n\n[ Espa\u00f1a ](https://es.benzinga.com)\n\n[ India ](https://in.benzinga.com)\n\n[ Italia ](https://it.benzinga.com)\n\n[ \ub300\ud55c\ubbfc\uad6d ](https://kr.benzinga.com/)\n\n[ \u65e5\u672c ](https://jp.benzinga.com/)\n\n[ Benzinga Edge ](https://www.benzinga.com/profile/portfolio)\n\n[ Benzinga Research ](https://www.benzinga.com/research)\n\n[ Benzinga Pro ](https://pro.benzinga.com)\n\n* * *\n\n##### [ ](/quote/null) ##### [ ](/quote/null) ##### [ ](/quote/null) ##### [\n](/quote/null) ##### [ ](/quote/null) ##### [ ](/quote/null)\n\n * [ Get Benzinga Pro ](https://www.benzinga.com/pro/register?adType=homepagebluebutton&utm_source=homepage-blue-button&utm_campaign=14daytrial)\n * [ Data & APIs ](https://www.benzinga.com/apis)\n * [ Events ](https://www.benzinga.com/events)\n * [ Premarket ](https://www.benzinga.com/premarket)\n * [ Advertise ](https://advertise.benzinga.com)\n\n[ Contribute ](https://contributor.benzinga.com/contributor-onboarding)\n\n[ Espa\u00f1a ](https://es.benzinga.com)\n\n[ India ](https://in.benzinga.com)\n\n[ Italia ](https://it.benzinga.com)\n\n[ \ub300\ud55c\ubbfc\uad6d ](https://kr.benzinga.com/)\n\n[ \u65e5\u672c ](https://jp.benzinga.com/)\n\n[ ](/)\n\n * [ Our Services ](/services \"Our Services\")\n\n * [ News ](/news \"News\")\n\n[ Earnings ](/earnings \"Earnings\")\n\n[ Guidance ](/calendars/guidance \"Guidance\")\n\n[ Dividends ](/dividends \"Dividends\")\n\n[ M&A ](/calendars/m-a \"M&A\")\n\n[ Buybacks ](/news/buybacks \"Buybacks\")\n\n[ Legal ](/news/legal \"Legal\")\n\n[ Interviews ](/interview \"Interviews\")\n\n[ Management ](/news/management \"Management\")\n\n[ Offerings ](/news/offerings \"Offerings\")\n\n[ IPOs ](/calendars/ipos \"IPOs\")\n\n[ Insider Trades ](/news/insider-trades \"Insider Trades\")\n\n[ Biotech/FDA ](/fda-calendar \"Biotech/FDA\")\n\n[ Politics ](/general/politics \"Politics\")\n\n[ Healthcare ](/topic/healthcare \"Healthcare\")\n\n * [ Markets ](/markets \"Markets\")\n\n[ Pre-Market ](/premarket \"Pre-Market\")\n\n[ After Hours ](/after-hours-center \"After Hours\")\n\n[ Movers ](/movers \"Movers\")\n\n[ ETFs ](/etfs \"ETFs\")\n\n[ Forex ](/markets/forex \"Forex\")\n\n[ Cannabis ](/cannabis \"Cannabis\")\n\n[ Commodities ](/markets/commodities \"Commodities\")\n\n[ Binary Options ](/markets/binary-options \"Binary Options\")\n\n[ Bonds ](/markets/bonds \"Bonds\")\n\n[ Futures ](/futures \"Futures\")\n\n[ CME Group ](/author/cme-group \"CME Group\")\n\n[ Global Economics ](/calendars/economic \"Global Economics\")\n\n[ Mining ](/topic/mining \"Mining\")\n\n[ Previews ](/trading-ideas/previews \"Previews\")\n\n[ Small-Cap ](/news/small-cap \"Small-Cap\")\n\n[ Real Estate ](/real-estate \"Real Estate\")\n\n[ Penny Stocks ](/money/best-penny-stocks \"Penny Stocks\")\n\n[ Digital Securities ](/topic/digital-securities \"Digital Securities\")\n\n[ Volatility ](/topic/volatility \"Volatility\")\n\n * [ Options ](/markets/options \"Options\")\n\n * [ Ratings ](/analyst-stock-ratings \"Ratings\")\n\n[ Analyst Color ](/analyst-ratings/analyst-color \"Analyst Color\")\n\n[ Downgrades ](/analyst-stock-ratings/downgrades \"Downgrades\")\n\n[ Upgrades ](/analyst-stock-ratings/upgrades \"Upgrades\")\n\n[ Initiations ](/analyst-stock-ratings/initiations \"Initiations\")\n\n[ Price Target ](/analyst-ratings/price-target \"Price Target\")\n\n * [ Ideas ](/trading-ideas \"Ideas\")\n\nTrade Ideas\n\n[ Long Ideas ](/trading-ideas/long-ideas \"Long Ideas\")\n\n[ Short Ideas ](/trading-ideas/short-ideas \"Short Ideas\")\n\n[ Technicals ](/trading-ideas/technicals \"Technicals\")\n\n[ From The Press ](/media \"From The Press\")\n\n[ Jim Cramer ](/topic/jim-cramer \"Jim Cramer\")\n\n[ Rumors ](/news/rumors \"Rumors\")\n\n[ Whisper Index ](/topic/stock-whisper-index \"Whisper Index\")\n\n[ Stock of the Day ](/topic/stock-of-the-day \"Stock of the Day\")\n\nBest Stocks & ETFs\n\n[ Best Penny Stocks ](/money/best-penny-stocks \"Best Penny Stocks\")\n\n[ Best S&P 500 ETFs ](/money/best-sp-500-etfs \"Best S&P 500 ETFs\")\n\n[ Best Swing Trade Stocks ](/money/best-swing-trade-stocks \"Best Swing Trade\nStocks\")\n\n[ Best Blue Chip Stocks ](/money/best-blue-chip-stocks \"Best Blue Chip\nStocks\")\n\n[ Best High-Volume Penny Stocks ](/money/best-high-volume-penny-stocks \"Best\nHigh-Volume Penny Stocks\")\n\n[ Best Small Cap ETFs ](/money/best-small-cap-etfs \"Best Small Cap ETFs\")\n\n[ Best Stocks to Day Trade ](/money/best-stocks-to-day-trade \"Best Stocks to\nDay Trade\")\n\n[ Best REITs ](/money/best-reits \"Best Stocks to Day Trade\")\n\n * [ Money ](/money \"Money\")\n\n[ Investing ](/money/investing \"Investing\")\n\n[ Cryptocurrency ](/money/crypto \"Cryptocurrency\")\n\n[ Mortgage ](/money/mortgages \"Mortgage\")\n\n[ Insurance ](/money/insurance \"Insurance\")\n\n[ Yield ](/yield-investments \"Yield\")\n\n[ Personal Finance ](/money/personal-finance \"Personal Finance\")\n\n[ Forex ](/markets/forex \"Forex\")\n\n[ Startup Investing ](/alternative-investments/startups \"Startup Investing\")\n\n[ Real Estate Investing ](/alternative-investments/real-estate \"Real Estate\nInvesting\")\n\n[ Prop Trading ](/money/best-prop-trading-firms \"Prop Trading\")\n\n[ Credit Cards ](/money/best-credit-cards \"Credit Cards\")\n\n[ Stock Brokers ](/money/best-stock-brokers-in-the-us \"Stock Brokers\")\n\n * [ Crypto ](/crypto \"Crypto\")\n\n[ Research ](https://www.benzinga.com/research \"Research\")\n\n[ My Stocks\n](https://www.benzinga.com/login?action=register&next=https://www.benzinga.com/profile/portfolio\n\"My Stocks\")\n\n[ Tools ](https://www.benzinga.com/tools \"Tools\")\n\n[ Free Benzinga Pro Trial\n](https://pro.benzinga.com/register/?utm_source=tools-bz-pro-free-trial)\n\nCalendars\n\n[ Analyst Ratings Calendar ](/analyst-stock-ratings \"Analyst Ratings\nCalendar\")\n\n[ Conference Call Calendar ](/calendars/conference-calls \"Conference Call\nCalendar\")\n\n[ Dividend Calendar ](/dividends \"Dividend Calendar\")\n\n[ Earnings Calendar ](/earnings \"Earnings Calendar\")\n\n[ Economic Calendar ](/calendars/economic \"Economic Calendar\")\n\n[ FDA Calendar ](/fda-calendar \"FDA Calendar\")\n\n[ Guidance Calendar ](/calendars/guidance \"Guidance Calendar\")\n\n[ IPO Calendar ](/calendars/ipos \"IPO Calendar\")\n\n[ M&A Calendar ](/calendars/m-a \"M&A Calendar\")\n\n[ SPAC Calendar ](/calendars/spac \"SPAC Calendar\")\n\n[ Stock Split Calendar ](/calendars/stock-splits \"Stock Split Calendar\")\n\nTrade Ideas\n\n[ Free Stock Reports ](/reports \"Free Stock Reports\")\n\n[ Insider Trades ](/sec/insider-trades/ \"Insider Trades\")\n\n[ Trade Idea Feed ](/trading-ideas \"Trade Idea Feed\")\n\n[ Analyst Ratings ](/analyst-stock-ratings \"Analyst Ratings\")\n\n[ Unusual Options Activity ](/calendars/unusual-options-activity \"Unusual\nOptions Activity\")\n\n[ Heatmaps ](/research/tools/heatmap \"Heatmaps\")\n\n[ Free Newsletter ](/free-newsletters \"Free Newsletter\")\n\n[ Government Trades ](/gov-trades \"Government Trades\")\n\n[ Perfect Stock Portfolio ](/portfolio/perfect-stock-portfolio \"Perfect Stock\nPortfolio\")\n\n[ Easy Income Portfolio ](/portfolio/easy-income-portfolio \"Easy Income\nPortfolio\")\n\nShort Interest\n\n[ Most Shorted ](/short-interest/most-shorted \"Most Shorted\")\n\n[ Largest Increase ](/short-interest/largest-increase \"Largest Increase\")\n\n[ Largest Decrease ](/short-interest/largest-decrease \"Largest Decrease\")\n\nCalculators\n\n[ Margin Calculator ](/margin-calculator \"Margin Calculator\")\n\n[ Forex Profit Calculator ](/forex-profit-calculator \"Forex Profit\nCalculator\")\n\n[ 100x Options Profit Calculator ](/research/tools/100x-options-profit-\ncalculator \"100x Options Profit Calculator\")\n\nScreeners\n\n[ Stock Screener ](/screener \"Stock Screener\")\n\n[ Top Momentum Stocks ](/screener/top-momentum-stocks \"Top Momentum Stocks\")\n\n[ Top Quality Stocks ](/screener/top-quality-stocks \"Top Quality Stocks\")\n\n[ Top Value Stocks ](/screener/top-value-stocks \"Top Value Stocks\")\n\n[ Top Growth Stocks ](/screener/top-growth-stocks \"Top Growth Stocks\")\n\n##### [ ](/quote/null) ##### [ ](/quote/null) ##### [ ](/quote/null) ##### [\n](/quote/null) ##### [ ](/quote/null) ##### [ ](/quote/null)\n\nApril 21, 2023 7:46 AM 2 min read\n\n# Cronos Releases Cannabinoid Life Cycle Study Highlighting Its Sustainable\nFermentation Practices\n\nby [ Vuk Zdinjak ](/author/vuk-zdinjak)\n\nFollow\n\n[ ](https://twitter.com/benzinga)\n\n[\n](https://news.google.com/publications/CAAqJggKIiBDQklTRWdnTWFnNEtER0psYm5wcGJtZGhMbU52YlNnQVAB?hl=en-\nUS&gl=US&ceid=US%3Aen)\n\n[ CRON Cronos Group Inc $1.80 1.69 % ](/quote/CRON)\n\n### Stock Score Locked: Want to See it?\n\nBenzinga Rankings give you vital metrics on any stock \u2013 anytime.\n\n[ Reveal Full Score ](https://www.benzinga.com/premium/ideas/benzinga-\nedge?adType=stockwidget&campaign=ranking&ad=rankingv1)\n\n###### Edge Rankings\n\nMomentum\n\n27.20\n\nGrowth\n\n85.85\n\nQuality\n\n\\-\n\nValue\n\n64.75\n\n###### Price Trend\n\nShort\n\nMedium\n\nLong\n\n[ Overview ](/quote/CRON)\n\n##### Comments\n\nLoading...\n\n**Cronos Group Inc.** CRON CRON in honor of Earth Day, **released a\nSustainability Study** , which outlines the **benefits of using fermentation\nmanufacturing methods for cannabinoid production** over the impact of\ntraditional methods of cannabis extraction, which leverage indoor cultivation\nmethods.\n\nThe third-party reviewed results showed that the environmental footprint of\ngrowing plants indoors is high and using innovative fermentation processes is\na solution that dramatically lowers the environmental impact of cannabinoid\nproduction. According to **Intertek Health Sciences Inc.** , on average, the\n**carbon footprint savings of** using Cronos\u2019 fermentation method is **99.8%**\nwhen compared to traditional extraction methods.\n\nCronos\u2019 brand platform features rare cannabinoids in a wide range of product\nformats. The company has launched CBC and CBG-focused adult products under its\nSpinach FEELZ brand platform, both products are made using Cronos\u2019 proprietary\nsustainable fermentation methods. Each product is designed to deliver unique\nand enhanced experiences made possible through proprietary blends of rare\ncannabinoids alongside more common cannabinoids, like THC and CBD.\n\n\u201cWhile our industry is young, it\u2019s never too early to lead and invest in\ntechnology that helps contribute to a greener future,\u201d stated **Mike\nGorenstein** , president, chairman, and CEO, Cronos. \u201cBy pioneering new\ntechnologies that produce rare cannabinoids using fermentation, we are not\nonly creating a viable path to harnessing the full power of cannabinoids, but\nalso, we are creating a sustainable process. We\u2019re thrilled to be using this\ntechnology to create innovative products under our Spinach FEELZ brand, which\nbrings exciting, differentiated, and sustainable cannabinoid products to\nconsumers.\u201d\n\n**Key Highlights**\n\n * On average, the carbon footprint savings of using Cronos\u2019 fermentation method is 99.8% when compared to traditional extraction methods. \n\n * Fermentation methods reduce up to 99% of environmental harm from conventional production across all metrics. \n\n * Cronos\u2019 fermentation methods eliminate plant cannabis byproduct at the outset, which helps to dramatically reduce overall carbon and water usage. \n\n * _Photo by[ Richard T ](https://unsplash.com/@newhighmediagroup?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText) on [ Unsplash ](https://unsplash.com/photos/yovhXPl8V1M?utm_source=unsplash&utm_medium=referral&utm_content=creditCopyText) _\n\n**Related News**\n\n[ Cronos Q4 2022 Revenue Declines 11% YoY, What About Net Loss?\n](https://www.benzinga.com/markets/cannabis/23/02/31092158/cronos-q4-2022-revenue-\ndeclines-11-yoy-what-about-net-loss)\n\n[ CRON Cronos Group Inc $1.80 1.69 % ](/quote/CRON)\n\n### Stock Score Locked: Want to See it?\n\nBenzinga Rankings give you vital metrics on any stock \u2013 anytime.\n\n[ Reveal Full Score ](https://www.benzinga.com/premium/ideas/benzinga-\nedge?adType=stockwidget&campaign=ranking&ad=rankingv1)\n\n###### Edge Rankings\n\nMomentum\n\n27.20\n\nGrowth\n\n85.85\n\nQuality\n\n\\-\n\nValue\n\n64.75\n\n###### Price Trend\n\nShort\n\nMedium\n\nLong\n\n[ Overview ](/quote/CRON)\n\n[ Market News and Data brought to you by Benzinga APIs\n](https://www.benzinga.com/apis?utm_source=benzinga.com&utm_campaign=article-\nbottom)\n\n\u00a9 2025 Benzinga.com. Benzinga does not provide investment advice. All rights\nreserved.\n\n* * *\n\n**Posted In:**\n\n[ Cannabis ](/cannabis) [ News ](/news) [ Penny Stocks ](/topic/penny-stocks)\n[ Small Cap ](/news/small-cap) [ Markets ](/markets) [ Anna Shlimak\n](/topic/anna-shlimak) [ Intertek Health Sciences ](/topic/intertek-health-\nsciences) [ Mike Gorenstein ](/topic/mike-gorenstein) [ premium\n](/topic/premium)\n\nBenzinga simplifies the market for smarter investing\n\nTrade confidently with insights and alerts from analyst ratings, free reports\nand breaking news that affects the stocks you care about.\n\n[ Join Now: Free! ](/register)\n\nAlready a member? [ Sign in ](/login)\n\n## **_**_**Cannabis is evolving\u2014don\u2019t get left behind!** _ ** _ **\n\nCurious about what\u2019s next for the industry and how to stay ahead in today\u2019s\ncompetitive market?\n\nJoin top executives, investors, and industry leaders at the **[ Benzinga\nCannabis Capital Conference ](https://www.benzinga.com/cannabis-conference) in\nChicago on June 9-10 ** . Dive deep into **market-shaping strategies,\ninvestment trends, and brand-building insights** that will define the future\nof cannabis.\n\n[ Secure your spot now ](https://www.benzinga.com/cannabis-conference) before\nprices go up\u2014this is where the biggest deals and connections happen!\n\n**[ Get your tickets today ](https://www.benzinga.com/cannabis-conference) !\n**\n\n### Connect With Us\n\n[ ](https://web.facebook.com/Benzinga/?_rdc=1&_rdr) [\n](https://www.instagram.com/benzinga/?hl=en) [\n](https://www.linkedin.com/company/benzinga) [ ](https://twitter.com/benzinga)\n[ ](https://www.youtube.com/benzinga)\n\n[\n](https://play.google.com/store/apps/details?id=com.benzinga.app&hl=en_NZ&gl=US)\n[ ](https://apps.apple.com/us/app/benzinga-stock-news-tracker/id688949481)\n\n### About Benzinga\n\n * [ About Us ](https://www.benzinga.com/about)\n * [ Careers ](https://jobs.benzinga.com/)\n * [ Advertise ](https://advertise.benzinga.com/)\n * [ Contact Us ](https://www.benzinga.com/contact)\n\n### Market Resources\n\n * [ Advanced Stock Screener Tools ](https://www.benzinga.com/screener)\n * [ Options Trading Chain Analysis ](https://www.benzinga.com/calendars/unusual-options-activity)\n * [ Comprehensive Earnings Calendar ](https://www.benzinga.com/calendars/earnings)\n * [ Dividend Investor Calendar and Alerts ](https://www.benzinga.com/dividends)\n * [ Economic Calendar and Market Events ](https://www.benzinga.com/calendars/economic)\n * [ IPO Calendar and New Listings ](https://www.benzinga.com/calendars/ipos)\n * [ Market Outlook and Analysis ](https://www.benzinga.com/markets)\n * [ Wall Street Analyst Ratings and Targets ](https://www.benzinga.com/analyst-stock-ratings)\n\n### Trading Tools & Education\n\n * [ Benzinga Pro Trading Platform ](https://www.benzinga.com/pro)\n * [ Options Trading Strategies and News ](https://www.benzinga.com/markets/options)\n * [ Stock Market Trading Ideas and Analysis ](https://www.benzinga.com/trading-ideas)\n * [ Technical Analysis Charts and Indicators ](https://www.benzinga.com/money/what-you-need-to-know-about-technical-analysis)\n * [ Fundamental Analysis and Valuation ](https://www.benzinga.com/trading-ideas/fundamental-analysis)\n * [ Day Trading Guides and Strategies ](https://www.benzinga.com/money/how-to-become-a-day-trader)\n * [ Live Investors Events ](https://www.benzinga.com/events)\n * [ Pre market Stock Analysis and News ](https://www.benzinga.com/premarket)\n * [ Cryptocurrency Market Analysis and News ](https://www.benzinga.com/crypto)\n\n### Ring the Bell\n\nA newsletter built for market enthusiasts by market enthusiasts. Top stories,\ntop movers, and trade ideas delivered to your inbox every weekday before and\nafter the market closes.\n\n * [ Terms & Conditions ](https://www.benzinga.com/terms-and-conditions)\n * [ Do Not Sell My Personal Data/Privacy Policy ](https://www.benzinga.com/page/privacy)\n * [ Disclaimer ](https://www.benzinga.com/disclaimer)\n * [ Service Status ](http://www.benzingastatus.com)\n * [ Sitemap ](https://www.benzinga.com/sitemap)\n\n\u00a9 2025 Benzinga | All Rights Reserved \n\n",
"url": "https://www.benzinga.com/markets/cannabis/23/04/31932290/cronos-releases-cannabinoid-life-cycle-study-highlighting-its-sustainable-fermentation-practices"
},
"reason": "This article on Benzinga reports on Cronos Group's cannabinoid life cycle study and sustainable fermentation practices. Benzinga is a reputable financial news source, and the article directly references Cronos Group and its environmental efforts. This makes it a reliable source of information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' environmental impact carbon footprint",
"summary": "Benzinga reports on Cronos Group's cannabinoid life cycle study.",
"url": "https://www.benzinga.com/markets/cannabis/23/04/31932290/cronos-releases-cannabinoid-life-cycle-study-highlighting-its-sustainable-fermentation-practices"
},
{
"content": {
"metadata": {
"ext_id": "e8b557f8-520f-444c-85e0-ffc590e81a0a",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
"page_content": "## We've detected unusual activity from your computer network\n\nTo continue, please click the box below to let us know you're not a robot.\n\n### Why did this happen?\n\nPlease make sure your browser supports JavaScript and cookies and that you are\nnot blocking them from loading. For more information you can review our [\nTerms of Service ](/notices/tos) and [ Cookie Policy ](/notices/tos) .\n\n### Need Help?\n\nFor inquiries related to this message please [ contact our support team\n](/feedback) and provide the reference ID below.\n\nBlock reference ID:f4c0c785-210f-11f0-b8c1-5e269bbe34ed\n\nGet the most important global markets news at your fingertips with a [\nBloomberg.com ](https://bloomberg.com) subscription.\n\n[ SUBSCRIBE NOW ](/subscription)\n\n",
"url": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
"reason": "This Bloomberg article discusses the marijuana industry's efforts to reduce its environmental impact. While it doesn't focus solely on The Cronos Group, it provides relevant context and insights into the industry's environmental challenges and initiatives. Bloomberg is a reputable news source, increasing the reliability score.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' environmental impact carbon footprint",
"summary": "Bloomberg article discusses the marijuana industry's efforts to reduce its environmental impact.",
"url": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
{
"content": {
"metadata": {
"ext_id": "8f1f82f8-e2c0-4e48-afb5-55b068f0e730",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://greenstocknews.com/news/nasdaq/cron/cronos-unveils-new-spinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-cannabinoids"
},
"page_content": " * [ Newswire ](/green-stock-newswire \"Green Stock Newswire\")\n * [ Newsletter ](/newsletter \"Free Daily Green Stock Newsletter\")\n * [ Market Data ](/market-data \"Market Data\")\n * [ Heat Map ](/heat-map)\n * [ Search ](/search)\n * [ Stock Screener ](/stock-screener \"Stock Screener\")\n\n * [ LOGIN ](/login)\n * [ REGISTER ](/register)\n\n * [ Index ](/)\n * [ Newsroom ](/newsroom)\n * [ Featured Stocks ](/best-green-stocks)\n * [ Green Stock Lists ](/green-stock-lists)\n * [ Video News Clips ](/green-stock-news-clips)\n * [ Sust. Transport News ]()\n * [ All Sust. Transport ](/sustainable-transport)\n * [ Electric Vehicles ](/sustainable-transport/electric-vehicles)\n * [ EV Technology ](/sustainable-transport/ev-technology)\n * [ EV Charging ](/sustainable-transport/ev-charging)\n * [ Space Race ](/sustainable-transport/space)\n * [ eVTOL ](/sustainable-transport/evtol)\n * [ Alternative Transport ](/sustainable-transport/alternative-transport)\n * [ Autonomous Driving ](/sustainable-transport/autonomous-driving)\n * [ Last Mile Delivery ](/sustainable-transport/last-mile)\n * [ Clean Energy News ]()\n * [ All Clean Energy ](/clean-energy)\n * [ Energy Storage ](/clean-energy/energy-storage)\n * [ Solar Power ](/clean-energy/solar-power)\n * [ Fuel Cells ](/clean-energy/fuel-cells)\n * [ Green Hydrogen ](/clean-energy/green-hydrogen)\n * [ Carbon Reduction ](/clean-energy/carbon-reduction)\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Nuclear Energy ](/clean-energy/nuclear-energy)\n * [ Critical Elements ](/clean-energy/critical-elements)\n * [ Alternative Energy ](/clean-energy/alternative-energy)\n * [ Cleantech News ]()\n * [ All Cleantech ](/cleantech)\n * [ Environmental Solutions ](/cleantech/environmental-solutions)\n * [ Artificial Intelligence ](/cleantech/artificial-intelligence)\n * [ 3D Printing ](/cleantech/3d-printing)\n * [ Plant-Based ](/cleantech/plant-based)\n * [ Smart Grid ](/cleantech/smart-grid)\n * [ Blockchain ](/cleantech/blockchain)\n * [ Agriculture ](/cleantech/agriculture)\n * [ Cannabis News ]()\n * [ All Cannabis ](/cannabis)\n * [ Consumer Brands ](/cannabis/consumer-brands)\n * [ Cultivation ](/cannabis/cultivation)\n * [ Medicinal ](/cannabis/medicinal)\n * [ CBD ](/cannabis/cbd)\n * [ AgTech ](/cannabis/agtech)\n * [ Green Stock Newswire ](/green-stock-newswire)\n * [ Heat Map ](/heat-map)\n * [ Market Data ](/market-data)\n * [ Watch List ](/register)\n * [ Newsletter ](/newsletter)\n\n# [ Clean Energy ](https://greenstocknews.com/clean-energy)\n\n * [ Energy Storage ](/clean-energy/energy-storage \"Energy Storage\")\n * [ Solar Power ](/clean-energy/solar-power \"Solar Power\")\n * [ Fuel Cells ](/clean-energy/fuel-cells \"Fuel Cells\")\n * [ Carbon Reduction ](/clean-energy/carbon-reduction \"Carbon Capture and Carbon Credits\")\n * [ Green Hydrogen ](/clean-energy/green-hydrogen \"Green Hydrogen\")\n * [ Battery Metals ](/clean-energy/battery-metals \"Battery Metals\")\n * [ Nuclear Energy ](/clean-energy/nuclear-energy \"Nuclear Energy\")\n\n[ ](https://www.graphiteoneinc.com/) Leveraging its vertically-integrated\napproach from mine to material manufacturing, [ Graphite One\n](https://www.graphiteoneinc.com/) intends to produce high-grade anode\nmaterial for the lithium-ion electric vehicle battery market and energy\nstorage systems, with significant additional production for a range of value-\nadded graphite applications. Envisioned as a vertically-integrated\nenterprise...\n\n[ CLICK TO LEARN MORE ](https://www.graphiteoneinc.com/)\n\n* [ CleanTech ](/cleantech)\n\n# Featured News\n\n[ ](/news/otcmkts/rooof/northstar-awarded-second-canadian-patent-for-asphalt-\nshingle-reprocessing-technology)\n\n### [ Northstar Clean Technologies Awarded Second Canadian Patent for...\n](/news/otcmkts/rooof/northstar-awarded-second-canadian-patent-for-asphalt-\nshingle-reprocessing-technology)\n\n * [ Enviro Solutions ](/cleantech/environmental-solutions)\n\n[ OTCMKTS: ROOOF ](/market-data/stock-quote/northstar-clean-technologies)\n\n# [ Clean Tech ](https://greenstocknews.com/cleantech)\n\n * [ Environmental Solutions ](/cleantech/environmental-solutions \"Environmental Services\")\n * [ Artificial Intelligence ](/cleantech/artificial-intelligence \"Artificial Intelligence\")\n * [ Quantum Computing ](/cleantech/quantum-computing \"Quantum Computing\")\n * [ 3D Printing ](/cleantech/3d-printing \"3D Printing\")\n * [ Smart Grid ](/cleantech/smart-grid \"Smart Grid\")\n * [ Plant-Based ](/cleantech/plant-based \"Plant-Based Foods\")\n * [ Blockchain ](/cleantech/blockchain \"Blockchain\")\n\n[ ](https://light.ai/) [ Light AI ](https://light.ai/) is developing an AI-\npowered, smartphone-based platform, using smartphone images to identify\ndisease in seconds. Its patented, app-based solution requires no swabs, lab\ntests, or proprietary hardware, leveraging the 4.5 billion smartphones\nworldwide. In pre-FDA validation studies, Light AI achieved 97% accuracy and\n100% Negative Predictive Value...\n\n[ CLICK TO LEARN MORE ](https://light.ai/)\n\n* [ Transport ](/sustainable-transport)\n\n# Featured News\n\n[ ](/news/otcmkts/hlrtf/global-tier-1-automotive-supplier-engages-hillcrest-\nin-zvs-technology-evaluation)\n\n### [ Global Tier 1 Automotive Supplier Engages Hillcrest Energy...\n](/news/otcmkts/hlrtf/global-tier-1-automotive-supplier-engages-hillcrest-in-\nzvs-technology-evaluation)\n\n * [ EV Technology ](/sustainable-transport/ev-technology)\n\n[ OTCMKTS: HLRTF ](/market-data/stock-quote/hillcrest-energy-technologies)\n\n# [ Sustainable Transport ](https://greenstocknews.com/sustainable-\ntransport)\n\n * [ Electric Vehicles ](/sustainable-transport/electric-vehicles \"Electric Vehicles\")\n * [ EV Technology ](/sustainable-transport/ev-technology \"EV Technology\")\n * [ EV Charging ](/sustainable-transport/ev-charging \"EV Charging\")\n * [ Space Race ](/sustainable-transport/space \"Space Race\")\n * [ eVTOL ](/sustainable-transport/evtol \"eVTOL\")\n * [ Autonomous Driving ](/sustainable-transport/autonomous-driving \"Autonomous Driving\")\n * [ Last Mile Delivery ](/sustainable-transport/last-mile \"Last Mile Delivery\")\n\n[ ](https://greenpowermotor.com/) [ GreenPower Motor\n](https://greenpowermotor.com/) designs, builds and distributes a full suite\nof high-floor and low-floor all-electric medium and heavy-duty vehicles,\nincluding transit buses, school buses, shuttles, cargo van, and a cab and\nchassis. GreenPower employs a clean-sheet design to manufacture all-electric\nvehicles that are purpose built to be battery powered with zero emissions...\n\n[ CLICK TO LEARN MORE ](https://greenpowermotor.com/)\n\n* [ Cannabis ](/cannabis)\n\n * [ Green Deals ](/green-deals \"Pre-IPO Green Deals\")\n * [ Watch List ](/register)\n\n[ ](https://www.surfair.com/)\n\n[ ](https://www.graphiteoneinc.com/)\n\n## Cronos Group Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids\n\n[ Follow ](/register)\n\n[ NASDAQ: CRON ](/market-data/stock-quote/cronos-group)\n\n[ Cannabis ](/cannabis)\n\n[ Consumer Brands ](/cannabis/consumer-brands)\n\n[ VISIT WEBSITE ](https://thecronosgroup.com/)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- **Cronos Group Inc.\u2019s** (NASDAQ:\nCRON) (TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand,\nSpinach\u00ae, is thrilled to introduce three all-new 1.2g vape products, each\nexpertly crafted with premium THC and enhanced with rare cannabinoids for a\nuniquely elevated experience. Along with these innovative vape offerings,\nCronos is also unveiling new SOURZ by Spinach\u00ae Fully Blasted flavors, infused\nwith rare cannabinoids.\n\nThe new lineup includes three new 1.2 gram vapes in the following formats:\n\n * [ **Mango Kiwi Haze CBC** ](https://spinachcannabis.com/strains/mango-kiwi/?sp=2) (Sativa): A refreshing, uplifting blend with a 1:10 CBC-to-THC ratio. \n * [ **Peach Passionfruit Kush CBN** ](https://spinachcannabis.com/strains/peach-passionfruit/?sp=2) (Indica): A dreamy, restful experience with a 1:10 CBN-to-THC ratio. \n * [ **Strawberry Watermelon OG CBG** ](https://spinachcannabis.com/strains/strawberry-watermelon-cbg/?sp=2) (Hybrid): A blissful, relaxed high with a 1:10 CBG-to-THC ratio. \n \n\nDesigned for consumers who prioritize both potency and added value, these\nvapes deliver 1,000mg of THC without compromising on the unique benefits of\nrare cannabinoids. Each product features winterized, distilled cannabis\nextract for purity, combined with terpene-rich flavors inspired by renowned\ncultivars. All Spinach\u00ae vapes are crafted with ceramic heaters, stainless\nsteel components, and food-grade materials to ensure quality and a smooth\nexperience.\n\nIn addition to the Spinach\u00ae vape launch, Cronos is expanding its best-selling\nedible line, SOURZ by Spinach\u00ae, with the new Fully Blasted lineup with each\npackage containing one 10mg THC gummy in bold, fruit-forward flavors:\n\n * [ **Mango Lime** ](https://spinachcannabis.com/forms/edibles/mango-lime/) : Tropical mango and tangy lime flavors with 10mg CBC and 10mg THC per gummy. \n * [ **Peach Passionfruit** : ](https://spinachcannabis.com/strains/peach-passionfruit/?sp=4) Peach and exotic passionfruit flavors with a balanced ratio of 10mg CBN and 10mg THC per gummy. \n * [ **Strawberry Watermelon** ](https://spinachcannabis.com/strains/strawberry-watermelon-cbg/?sp=4) : Strawberry and refreshing watermelon flavors with 10mg CBG and 10mg THC per gummy. \n \n\n_\u201cWe are thrilled to expand our Spinach\u00ae 1.2g vape and SOURZ by Spinach\u00ae Fully\nBlasted lineups with these innovative products that combine THC potency and\nthe added benefits of rare cannabinoids. This new lineup will deliver what so\nmany consumers are looking for: mouthwatering flavors, rare cannabinoid\nenhancers, and THC,\u201d said Mike Gorenstein, Chairman, President, and CEO of\nCronos Group. \u201cCronos is committed to delivering exceptional cannabis\nexperiences that meet evolving consumer preferences. Our goal is to\ncontinually innovate and provide our adult consumers with high-quality,\nenjoyable cannabis experiences. These new flavors and formulations reflect our\ndedication to quality, innovation, and giving consumers more reasons to choose\nSpinach\u00ae.\u201d \n_ \nThe launch is backed by the brand\u2019s in-store trade marketing, with dedicated\nbudtender education, digital placements, and enhanced point-of-purchase\nmaterials. For more information and availability, please visit: [\nspinachcannabis.com ](https://spinachcannabis.com/) .\n\n**About Cronos Group Inc.** \n \nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit:\nthecronosgroup.com.\n\n**Forward-looking Statements** \n \n_This press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about product launches and innovations and the\nconsumer experience with respect thereto; and the Company\u2019s intention to build\nan international iconic brand portfolio and develop disruptive intellectual\nproperty by advancing cannabis research, technology and product development.\nForward-looking Statements are necessarily based upon a number of estimates\nand assumptions that, while considered reasonable by management, are\ninherently subject to significant business, economic and competitive risks.\nFinancial results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and\nEDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement._\n\n**Media Relations Contact:** \nEmily Whalen \nThis email address is being protected from spambots. You need JavaScript\nenabled to view it.\n\n**Investor Relations Contact:** \nHarrison Aaron \nThis email address is being protected from spambots. You need JavaScript\nenabled to view it.\n\n \n\n# Plug Into More Green Stock News\n\n#### Tap into the pulse of emerging green sectors every morning. Top daily\nheadlines from clean energy, cleantech, cannabis, and sustainable transport\nstocks:\n\nPlease review our [ Disclaimer ](/disclaimer) and [ Privacy Policy\n](/privacy-policy) before subscribing. One-click unsubscribe at any time.\n\n# More Green Stock News\n\n[ ](/news/otcmkts/gphof/graphite-one-advances-its-united-states-graphite-\nsupply-chain-solution-with-completion-of-a-bankable-feasibility-study)\n\n### [ Graphite One Advances its United States Graphite Supply Chain Solution\nwith Completion of a Bankable Feasibility Study\n](/news/otcmkts/gphof/graphite-one-advances-its-united-states-graphite-supply-\nchain-solution-with-completion-of-a-bankable-feasibility-study)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n[ ](/news/otcmkts/gphof/u-s-department-of-defense-s-defense-logistics-agency-\nhighlights-graphite-one-and-vorbeck-materials-project-to-develop-\nenvironmentally-friendly-graphite-based-foam-fire-fighting-material)\n\n### [ U.S. Department of Defense's Defense Logistics Agency Highlights\nGraphite One and Vorbeck Materials' Project to Develop Environmentally-\nFriendly... ](/news/otcmkts/gphof/u-s-department-of-defense-s-defense-\nlogistics-agency-highlights-graphite-one-and-vorbeck-materials-project-to-\ndevelop-environmentally-friendly-graphite-based-foam-fire-fighting-material)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n[ ](/news/nyse/srfm/surf-air-mobility-secures-50-million-financing-to-fund-\ntransformation-plan-and-path-to-profitability)\n\n### [ Surf Air Mobility Secures $50 Million Financing to Fund Transformation\nPlan and Path to Profitability ](/news/nyse/srfm/surf-air-mobility-\nsecures-50-million-financing-to-fund-transformation-plan-and-path-to-\nprofitability)\n\n * [ eVTOL ](/sustainable-transport/evtol)\n\n[ NYSE: SRFM ](/market-data/stock-quote/surf-air-mobility)\n\n* * *\n\n[ ](/news/otcmkts/rooof/northstar-releases-empower-calgary-facility-\nconstruction-video-series-episode-3-hse-and-major-equipment-installation)\n\n### [ Northstar Clean Technologies Releases Empower Calgary Facility\nConstruction Video Series Episode #3: HSE and Major Equipment Installation\n](/news/otcmkts/rooof/northstar-releases-empower-calgary-facility-\nconstruction-video-series-episode-3-hse-and-major-equipment-installation)\n\n * [ Enviro Solutions ](/cleantech/environmental-solutions)\n\n[ OTCMKTS: ROOOF ](/market-data/stock-quote/northstar-clean-technologies)\n\n* * *\n\n[ ](/news/otcmkts/gphof/graphite-one-announces-updated-graphite-creek-\nresource-and-reserve-estimates-tripling-proven-and-probable-reserves)\n\n### [ Graphite One Announces Updated Graphite Creek Resource and Reserve\nEstimates, Tripling Proven and Probable Reserves\n](/news/otcmkts/gphof/graphite-one-announces-updated-graphite-creek-resource-\nand-reserve-estimates-tripling-proven-and-probable-reserves)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n[ ](/news/nasdaq/devs/devvstream-enters-rec-market-in-asia-with-medellin-\nsolar-power-facility-partnership)\n\n### [ DevvStream Enters REC Market in Asia with Medellin Solar Power Facility\nPartnership ](/news/nasdaq/devs/devvstream-enters-rec-market-in-asia-with-\nmedellin-solar-power-facility-partnership)\n\n * [ Solar Power ](/clean-energy/solar-power)\n * [ Carbon Reduction ](/clean-energy/carbon-reduction)\n\n[ NASDAQ: DEVS ](/market-data/stock-quote/devvstream)\n\n* * *\n\n[ ](/news/otcmkts/gphof/alaska-governor-mike-dunleavy-identifies-graphite-one-\nas-a-priority-critical-mineral-project-in-alaska-state-of-the-state-address)\n\n### [ Alaska Governor Mike Dunleavy Identifies Graphite One as a Priority\nCritical Mineral Project in Alaska State of the State Address\n](/news/otcmkts/gphof/alaska-governor-mike-dunleavy-identifies-graphite-one-\nas-a-priority-critical-mineral-project-in-alaska-state-of-the-state-address)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n# More Green Stock News\n\n#### [ Surf Air Mobility Secures $50 Million Financing to Fund Transformation\nPlan and Path to Profitability ](/news/nyse/srfm/surf-air-mobility-\nsecures-50-million-financing-to-fund-transformation-plan-and-path-to-\nprofitability)\n\n * [ eVTOL ](/sustainable-transport/evtol)\n\n[ NYSE: SRFM ](/market-data/stock-quote/surf-air-mobility)\n\n* * *\n\n#### [ Alaska Governor Mike Dunleavy Identifies Graphite One as a Priority\nCritical Mineral Project in Alaska State of the State Address\n](/news/otcmkts/gphof/alaska-governor-mike-dunleavy-identifies-graphite-one-\nas-a-priority-critical-mineral-project-in-alaska-state-of-the-state-address)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n#### [ Else Nutrition Launches 12-Week Pilot in Canada with Multinational\nWholesale Retailer ](/news/otcmkts/babyf/else-nutrition-launches-12-week-\npilot-in-canada-with-multinational-wholesale-retailer)\n\n * [ Plant-Based ](/cleantech/plant-based)\n\n[ OTCMKTS: BABYF ](/market-data/stock-quote/else-nutrition)\n\n* * *\n\n#### [ DevvStream Accepted into Singapore Carbon Market Alliance (SCMA),\nFocused on Carbon Credits Aligned with Article 6\n](/news/nasdaq/devs/devvstream-accepted-into-singapore-carbon-market-alliance-\nscma-focused-on-carbon-credits-aligned-with-article-6)\n\n * [ Carbon Reduction ](/clean-energy/carbon-reduction)\n\n[ NASDAQ: DEVS ](/market-data/stock-quote/devvstream)\n\nLast Trade: | US$ 1.79 \n---|--- \nDaily Change: | 0.02 1.13 \nDaily Volume: | 1,172,627 \nMarket Cap: | US$ 684.320M \nFebruary 27, 2025 [ Cronos Group Reports 2024 Fourth Quarter and Full-Year\nResults ](/news/nasdaq/cron/cronos-group-reports-2024-fourth-quarter-and-full-\nyear-results) November 12, 2024 [ Cronos Group Reports 2024 Third Quarter\nResults ](/news/nasdaq/cron/cronos-group-reports-2024-third-quarter-results)\nOctober 10, 2024 [ Cronos Group: Spinach Is the Number One Cannabis Brand in\nCanada ](/news/nasdaq/cron/spinach-is-the-number-one-cannabis-brand-in-canada)\nAugust 28, 2024 [ Cronos Group: Lord Jones Live Resin Vapes and Ice Water\nHash Pre-Rolls Now Available Across Canada ](/news/nasdaq/cron/lord-jones-\nlive-resin-vapes-and-ice-water-hash-pre-rolls-now-available-across-canada)\nAugust 08, 2024 [ Cronos Group Reports 2024 Second Quarter Results\n](/news/nasdaq/cron/cronos-group-reports-2024-second-quarter-results) [ LOAD\nMORE NEWS ](/market-data/stock-quote/cronos-group) \n \n[ ](https://www.northstarcleantech.com/)\n\nResearch Tools\n\n * [ Stock Screener ](/stock-screener)\n * [ Green Stock Lists ](/green-stock-lists)\n * [ Sector Heat Map ](/heat-map)\n * [ Market Data & Quotes ](/market-data)\n * [ Search ](/search)\n\nStock News\n\n * [ All Green Stock News ](/newsroom)\n * [ Green Stock Newswire ](/green-stock-newswire)\n * [ Clean Energy News ](/clean-energy)\n * [ Clean Technology News ](/cleantech)\n * [ Cannabis Stocks & News ](/stocks/cannabis-stocks)\n\nPopular Topics\n\n * [ Top Green Stocks in 2025 ](/best-green-stocks)\n * [ Clean Energy Stocks ](/stocks/clean-energy-stocks)\n * [ CleanTech Stocks ](/stocks/cleantech-stocks)\n * [ List of A.I. Stocks ](/stocks/artificial-intelligence-stocks)\n * [ Sustainable Transport Stocks ](/stocks/sustainable-transport-stocks)\n\nMiscellaneous\n\n * [ Free Daily Newsletter ](/newsletter)\n * [ Follow Us On X ](https://x.com/intent/follow?screen_name=greenstocknews)\n * [ Advertise Your Company ](/advertise)\n * [ Privacy Policy ](/privacy-policy)\n * [ Disclaimer ](/disclaimer)\n\nCOPYRIGHT \u00a92025 GREEN STOCK NEWS\n\n * [ Twitter ](https://twitter.com/intent/follow?screen_name=greenstocknews)\n * [ Privacy Policy ](/privacy-policy)\n * [ Disclaimer ](/disclaimer)\n * [ Advertise ](/advertise)\n\n * __ Tweet \n * __ Share \n * __ Share \n * __ Share \n * __ Share \n\n__\n\n__\n\n * __\n * __\n * __\n * __\n * __\n\nWe use cookies to enhance your experience. By continuing, you consent to our\nuse of cookies.\n\nContinue [ Learn More ](https://greenstocknews.com/privacy-policy)\n\n",
"url": "https://greenstocknews.com/news/nasdaq/cron/cronos-unveils-new-spinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-cannabinoids"
},
"reason": "This article from GreenStockNews discusses Cronos Group's new product offerings. While it doesn't directly address environmental impact or carbon footprint, it does mention Cronos Group, making it relevant to the company. GreenStockNews is a specialized news source for green stocks, but it may have some promotional bias.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' environmental impact carbon footprint",
"summary": "GreenStockNews reports on Cronos Group's new product offerings.",
"url": "https://greenstocknews.com/news/nasdaq/cron/cronos-unveils-new-spinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-cannabinoids"
},
{
"content": {
"metadata": {
"ext_id": "c1b2fcf8-1730-4c9f-8cf2-04693c243d9b",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
"page_content": "Please enable JS and disable any ad blocker\n\n",
"url": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
"reason": "This article from Barron's discusses the environmental impact of marijuana production, including energy usage and climate risks, and mentions Cronos Group as part of the industry. Barron's is a reputable financial news source.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "Article in Barron's discussing environmental concerns related to marijuana stocks, mentioning Cronos Group.",
"url": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
{
"content": {
"metadata": {
"ext_id": "de70c83b-8fe0-46a7-81df-1763e8400266",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.360energy.net/resources/success-stories/cronos"
},
"page_content": "[ ](/)\n\nProudly Canadian Since 1995.\n\n[ ](/)\n\nStay Connected \u00e2\u0080\u0093 Join Our Newsletter\n\nThank you! Your submission has been received!\n\nOops! Something went wrong while submitting the form.\n\nSolutions\n\n[ 360 ECOS ](/solutions/360-ecos) [ Envirally ](http://envirally.io) [ 360\nCarbon Excellence ](/solutions/carbon-excellence) [ 360 GrO\n](/solutions/360-gro)\n\nCompany\n\n[ Why Us ](/company/about-us) [ Press ](/company/press) [ Contact Us\n](/company/contact-us) [ Book A Meeting ](/book-a-meeting) [ Client Login\n](https://ub.skgtech.com/Identity/Account/Login)\n\nResources\n\n[ Success Stories ](/resources/success-stories) [ FAQs ](/resources/faqs) [\nArticles ](/resources/articles) [ Podcast ](/resources/podcast-the-360-on-\nenergy-and-carbon) [ White Papers ](/resources/white-papers) [ Webinars\n](/resources/webinars)\n\n[ ](https://www.facebook.com/360Energyinc)\n\n[ ](https://www.instagram.com/360_energy/)\n\n[ ](https://www.linkedin.com/company/360-energy/)\n\n[ ](https://x.com/360_energy)\n\n[ ](https://podcasts.apple.com/us/podcast/the-360-on-energy-and-\ncarbon/id1573283942)\n\n[ ](https://open.spotify.com/show/53JLpEfnSjlf1Lg1avIsbl?si=a69cc0b043494a19)\n\n[ ](https://www.youtube.com/playlist?list=PLjnrOUgCCGHi7ePs1P1gHYLQux_XaGbL4)\n\n\u00c2\u00a9 2025 360 Energy Inc. All right reserved.\n\n[ Privacy Policy ](/legal/privacy-policy) [ Terms and Conditions\n](/legal/terms-conditions) Cookies Settings\n\n",
"url": "https://www.360energy.net/resources/success-stories/cronos"
},
"reason": "This page is a success story published by 360 Energy about their work with The Cronos Group to reduce energy consumption. It provides specific details about the project and the energy savings achieved. While it is a success story, it offers verifiable information.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "Success story from 360 Energy detailing their work with The Cronos Group on energy reduction initiatives.",
"url": "https://www.360energy.net/resources/success-stories/cronos"
},
{
"content": {
"metadata": {
"ext_id": "6352f59e-2a36-45fe-bc21-d27bd7bf8e41",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
},
"page_content": "Skip to main content\n\n * [ TSX 0.69 % ](https://www.theglobeandmail.com/investing/markets/indices/TXCX/)\n * [ S&P 500 1.67 % ](https://www.theglobeandmail.com/investing/markets/indices/INX/)\n * [ DOW 1.07 % ](https://www.theglobeandmail.com/investing/markets/indices/DOWI/)\n * [ NASDAQ 2.5 % ](https://www.theglobeandmail.com/investing/markets/indices/NASX/)\n * [ Oil 1.01 % ](https://www.theglobeandmail.com/investing/markets/commodities/CL*0/)\n * [ Dollar 0.19 % ](https://www.theglobeandmail.com/investing/markets/currencies/CADUSD/)\n * [ Gold 1.38 % ](https://www.theglobeandmail.com/investing/markets/commodities/GC*0/)\n * [ tsx movers: ](/investing/markets/stocks/)\n * [ WCP-T -1.84 % ](https://www.theglobeandmail.com/investing/markets/stocks/WCP-T/)\n * [ CNQ-T -0.74 % ](https://www.theglobeandmail.com/investing/markets/stocks/CNQ-T/)\n * [ BTE-T -2.56 % ](https://www.theglobeandmail.com/investing/markets/stocks/BTE-T/)\n * [ BMO-T \\+ 0.44 % ](https://www.theglobeandmail.com/investing/markets/stocks/BMO-T/)\n\nThis section contains press releases and other materials from third parties\n(including paid content). The Globe and Mail has not reviewed this content.\nPlease see [ disclaimer ](https://www.theglobeandmail.com/privacy-\nterms/disclaimer/) .\n\n# Cronos Group Inc. to Hold 2024 Second Quarter Earnings Conference Call on\nAugust 8, 2024\n\nCronos Group Inc. - [ GlobeNewswire ](https://www.globenewswire.com/) \\- Thu\nJul 25, 2024\n\nTORONTO, July 25, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2024 second quarter\nearnings conference call on Thursday, August 8, 2024 at 8:30 a.m. ET. Cronos\u2019\nsenior management team will discuss the Company\u2019s financial results and will\nbe available for questions from the investment community after prepared\nremarks. \n\nTo attend the conference call or webcast, participants should register online\nat [ https://ir.thecronosgroup.com/events-presentations\n](https://ir.thecronosgroup.com/events-presentations) . To avoid delays, we\nencourage participants to dial into the conference call fifteen minutes ahead\nof the scheduled start time. The webcast of the call will be archived for\nreplay on the Company\u2019s website.\n\n**About Cronos \n** Cronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: [ thecronosgroup.com ](https://thecronosgroup.com/) .\n\n**Forward-looking Statements \n** This press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about Cronos\u2019 intention to build an international\niconic brand portfolio and develop disruptive intellectual property. Forward-\nlooking Statements are necessarily based upon a number of estimates and\nassumptions that, while considered reasonable by management, are inherently\nsubject to significant business, economic and competitive risks, financial\nresults, results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2023 and Quarterly Report on Form 10-Q\nfor the quarter ended March 31, 2024, each of which have been filed on SEDAR+\nand EDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement.\n\n**Cronos Contact** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \n[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com)\n\n \n\n[\n](https://www.globenewswire.com/NewsRoom/AttachmentNg/68e2d88b-b8e0-404a-995d-415a33773982)\n\nAll [ market data (will open in new tab)\n](https://www.barchart.com/solutions/data/market) is provided by Barchart\nSolutions. Copyright \u00a9 2025 .\n\nInformation is provided 'as is' and solely for informational purposes, not for\ntrading purposes or advice. For exchange delays and terms of use, please read\n[ disclaimer (will open in new tab)\n](https://www.barchart.com/solutions/company/terms-and-privacy) .\n\n * [ Terms & Conditions ](/privacy-terms/terms-and-conditions/?intcmp=footer)\n * [ Community Guidelines ](/privacy-terms/community-guidelines/?intcmp=footer)\n * [ Privacy Policy ](/privacy-terms/privacy-policy/?intcmp=footer)\n * [ Disclaimer ](/privacy-terms/disclaimer/?intcmp=footer)\n\nSkip footer navigation\n\n * Subscribe \n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n * Business services \n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n * Contact us \n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n * Reader services \n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n * About us \n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\n## Subscribe\n\n * [ Digital + Home Delivery ](https://subscribe.theglobeandmail.com/#/print?intcmp=footer)\n * [ Digital Access ](https://subscriptions.theglobeandmail.com/digital?utm_cmp=footer)\n * [ Globe2Go ](https://globe2go.pressreader.com/)\n * [ The New York Times ](https://www.theglobeandmail.com/globe-products/nytproduct/?intcmp=footer)\n * [ Globe Email Newsletters ](/newsletters/?intcmp=footer)\n * [ Gift Subscription ](https://subscriptions.theglobeandmail.com/gift?utm_cmp=footer)\n\n## Business services\n\n * [ Advertise with Us ](https://globelink.ca/?intcmp=footer)\n * [ Group Subscriptions ](/globe-group-subscriptions/?intcmp=footer)\n * [ Globe Campus ](/globecampus/?intcmp=footer)\n * [ Globe Event Centre ](https://www.globeandmailcentre.com/)\n * [ Leadership Institute ](https://theglobeleadershipinstitute.com/)\n\n## Contact us\n\n * [ Address and Phone Number ](/about/contact/?intcmp=footer)\n * [ Standards Editors ](/standards-editor/?intcmp=footer)\n * [ Staff ](/about/contact/?intcmp=footer)\n * [ SecureDrop ](https://sec.theglobeandmail.com/securedrop/?intcmp=footer)\n * [ Submit an article ](/about/contact/?intcmp=footer#tgamcontactussubmitting)\n\n## Reader services\n\n * [ Account Settings ](https://sec.theglobeandmail.com/myaccount/account-settings?intcmp=footer)\n * [ Technical Support & FAQs ](https://globeandmail.my.site.com/helpcentre/s/?intcmp=footer)\n * [ Subscriptions ](https://sec.theglobeandmail.com/myaccount/my-subscription?intcmp=footer)\n * [ Member Benefits ](/member-benefits/?intcmp=footer)\n * [ Privacy Settings ](/privacy-settings/)\n\n## About us\n\n * [ Company information ](/about/?intcmp=footer)\n * [ Work at The Globe ](/about/work-at-the-globe/?intcmp=footer)\n * [ Accessibility ](/accessibility/?intcmp=footer)\n * [ Editorial Code of Conduct ](/about/editorial-code/?intcmp=footer)\n * [ Sustainability ](/privacy-terms/global-sustainability-policy/?intcmp=footer)\n * [ Licensing & Permissions ](/privacy-terms/licensing-and-permissions/?intcmp=footer)\n * [ Election Advertising Registry ](/election-advertising-registry/?intcmp=footer)\n * [ Modern Slavery Report ](/privacy-terms/supply-chain-report/)\n\nReturn to start of footer navigation\n\n[ ](https://itunes.apple.com/ca/app/the-globe-and-mail-news/id429228415?mt=8)\n[\n](https://play.google.com/store/apps/details?id=com.theglobeandmail.headliner&hl=en)\n\n[ ](https://news.google.com/publications/CAAqBwgKMNLRigEwpPYu) [\n](https://apple.news/T8DrF3Bh5SHCSfJ2qlK1scA) [\n](https://twitter.com/globeandmail) [ ](https://www.linkedin.com/company/the-\nglobe-and-mail/) [ ](https://www.youtube.com/user/TheGlobeandMail) [\n](https://www.tiktok.com/@globeandmail) [\n](https://www.facebook.com/theglobeandmail) [\n](https://instagram.com/globeandmail) [\n](https://story.snapchat.com/p/f9c37a38-b555-4c37-a97a-598423457108)\n\n\u00a9 Copyright 2025 The Globe and Mail Inc. All rights reserved.\n\n351 King Street East, Suite 1600, Toronto, ON Canada, M5A 0N1\n\nAndrew Saunders, President and CEO\n\n *[\n ON\n ]: Ontario\n\n",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
},
"reason": "This is a press release from The Cronos Group, announcing their second quarter earnings conference call. Published via The Globe and Mail, it's a direct communication from the company, making it a reliable source for this specific information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "Press release from The Cronos Group about their upcoming earnings conference call.",
"url": "https://www.theglobeandmail.com/investing/markets/stocks/CRON-T/pressreleases/27615636/cronos-group-inc-to-hold-2024-second-quarter-earnings-conference-call-on-august-8-2024/"
},
{
"content": {
"metadata": {
"ext_id": "5003937d-28a8-4cbf-929f-f4145448e775",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.biospace.com/the-secret-tech-which-could-transform-cannabis-markets"
},
"page_content": "[ SUBSCRIBE ](https://www.biospace.com/subscribe-to-newsletters)\n\n[ ](/)\n\n[ SUBSCRIBE ](https://www.biospace.com/subscribe-to-newsletters)\n\n# The Secret Tech Which Could Transform Cannabis Markets\n\nDecember 21, 2018 | \n\n15 min read\n\n * [ Twitter ](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets&text=The%20Secret%20Tech%20Which%20Could%20Transform%20Cannabis%20Markets)\n * [ LinkedIn ](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets&mini=true&title=The%20Secret%20Tech%20Which%20Could%20Transform%20Cannabis%20Markets&summary=Wayland%20Group%20%28WAYL.CN%20-%20MRRCF%29%20can%20produce%20cannabis%20at%20%240.05%20a%20gram%20in%20South%20American%20and%20sells%20cannabis%20for%20up%20to%20%2416%20in%20some%20European%20markets&source=BioSpace)\n * [ Facebook ](https://www.facebook.com/dialog/share?app_id=2120989681618413&display=popup&href=https%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets)\n * [ Email ](mailto:?subject=Check%20out%20this%20article%20on%20BioSpace&body=The%20Secret%20Tech%20Which%20Could%20Transform%20Cannabis%20Markets%0A%0Ahttps%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets%0A%0AWayland%20Group%20%28WAYL.CN%20-%20MRRCF%29%20can%20produce%20cannabis%20at%20%240.05%20a%20gram%20in%20South%20American%20and%20sells%20cannabis%20for%20up%20to%20%2416%20in%20some%20European%20markets)\n * [ Print ](javascript:window.print\\(\\))\n\n## Wayland Group (WAYL.CN - MRRCF) can produce cannabis at $0.05 a gram in\nSouth American and sells cannabis for up to $16 in some European markets\n\n| LONDON , /PRNewswire/ -- Wayland Group (WAYL.CN - MRRCF) can produce\ncannabis at $0.05 a gram in South American and sells cannabis for up to $16\nin some European markets. How do they do it? With a simple, but powerful\nbusiness strategy. Mentioned in today's commentary includes: Canopy Growth\nCorporation (NYSE: CGC) (TSX: WEED), Cronos Group (NASDAQ: CRON) (TSX: CRON),\nAurora Cannabis (NYSE: ACB) (TSX: ACB), Emblem Corp. (OTC: EMMBF) (TSX.V:\nEMC), THC Biomed International (OTC: THCBF) (CSE: THC). \n \nWayland focuses on the lowest cost production methods. Produce product in\ncountries with weaker currencies. Sell into the highest-paying markets that\nhave strong currencies. And don't think because they focus on lowering the\ncost of production that this is a lower grade product. \n \nBecause the **Wayland Group** **(** ** [ WAYL.CN\n](https://finance.yahoo.com/quote/WAYL.CN?p=WAYL.CN&.tsrc=fin-\nsrch&guccounter=2) ; ** ** [ MRRCF\n](https://finance.yahoo.com/quote/MRRCF?p=MRRCF&.tsrc=fin-srch&guccounter=1) )\n** just hit one of the greatest benchmarks a cannabis producer can hit.\nThey've achieved GMP Certification (Good Manufacturing Practice). The only\nother 4 Canadian cannabis producers who hit this milestone are industry giants\nnow. \n \nIf you know cannabis investing, then you know these names:\n\n * Aurora Cannabis Inc now about $5.64 a share \n * Cronos Group Inc now about $11.35 a share \n * Canopy Growth Corporation now about $29.61 a share \n * Tilray, Inc now about $74 a share \n\nWayland has joined them as one of only 5 Canadian producers who are GMP\ncertified producers for the European Union. It's impressive because Wayland's\na much smaller company. \n \nWhy does the ability to sell into the European Union matter? Two reasons:\n**_First_ ** , because medical cannabis in Europe commands some of the\nhighest prices per gram in the world. The insurance coverage in Europe for\nmedical use of cannabis is widespread. **_Second_ ** , because of the currency\nexchange. Canadian producers are bearing production costs in Canadian dollars\nbut selling in Euros. ( One euro is worth roughly $1.52 Canadian.) \n \nThat is part of the reason why, in Canada , Wayland sells cannabis at an\naverage $5.56 per gram. But in Europe Wayland ( [ WAYL.CN\n](https://finance.yahoo.com/quote/WAYL.CN?p=WAYL.CN&.tsrc=fin-srch) _;_ [\nMRRCF ](https://finance.yahoo.com/quote/MRRCF?p=MRRCF&.tsrc=fin-srch) ) can\nsell it for up to $16 Canadian dollars per gram. That's three times the\nprice. \n \n**Wayland has taken this idea of low-cost production and high buying markets\nto** **an extreme their investors love** \n \nThey automated production to reduce their workforce from 500 people [ down to\njust 26 ](https://globenewswire.com/news-\nrelease/2018/05/08/1498476/0/en/Maricann-Group-s-Green-Approach-An-Investment-\nin-Our-Future-CFN-Media.html) . And payroll costs can add enormous amounts to\na company's overhead (and eat away at margins). \n \nFor instance, the minimum wage in Canada is $14 per hour. And paying 500\npeople at $14 per hour for a 40-hour work week means you're paying $280,000\nper week in payroll. Over 52 weeks that balloons to over $14 million in\npayroll costs. But not at Wayland. By reducing staff to just 25 employees at a\nproduction facility through automation they've dramatically reduced costs. \n \n**The 4 cost-cutting secrets to these** **gross** **margins**\n\n 1. **Technology is on their side**\n\nWayland uses an _AI Master Grower_ so they only need a fraction of the\nworkforce of many labor intensive operations. This cannabis producer has a\nworld-class tech team. By using artificial intelligence and big data they have\nautomated cannabis production to an astounding degree. Some of their\ncompetitors need up to 500 employees to match the production of Wayland's\nstaff of 26. That's 5% of some competitors' workforce. 2\\. **Smart strategic\nalliances** The AI Master Grower is powered by Rockwell Automation, and\nWayland is the first cannabis company to embrace automation as a key feature\nof the cultivation process. With a tiny staff, Wayland can produce thousands\nof grams of cannabis for export. \nThat brings production costs way, way down. At the Langton facility in\nCanada , Wayland deploys the AI Master Grower to oversee 365,000 square feet\nand a potential annual capacity of 95,000 kilos. 3\\. **They cut energy costs\nto a fraction** When cannabis was illegal, one way police would look for\ngrowers was to find places with massive energy costs. That's because\ntraditional production methods require enormous amounts of energy. Those costs\ncut into profits. \nWayland went through every step and cost of production to find ways to cut\ncosts. The company can cut big costs by embracing renewable energy sources and\nenergy efficient practices. Their facilities are powered by natural gas co-\ngeneration and they utilize recycled water for their hydroponics, which cuts\ndown on [ waste that can accumulate from bad growth practices.\n](http://www.cannabisbusinesstimes.com/article/7-tips-increase-water-\nefficiency-cannabis-cultivation/) The company has worked out [ a quick-dry\nmethod with former JPL scientists\n](https://www.youtube.com/watch?v=u5Vklban8oE&feature=youtu.be&t=515) . 4\\.\n**VESIsorb Tech means customers need to take less to get the same effect**\nWayland has also brought advances in pharmaceuticals to cannabis cultivation.\nThe company has deployed [ VESIsorb\n](https://www.pureencapsulations.com/media/brch_VESIsorb.pdf) medical tech for\nits cannabis products. \nWhen cannabinoids are ingested, they enter the body but tend to get clumped in\nthe digestive system, interfering with absorption and diminishing the overall\neffect. VESIsorb disperses the CBD molecules so they're easier to absorb,\nproviding higher and more immediate levels of CBD absorption. The company's\nautomated production techniques, energy efficiency and global reach means it\ncan get its product to the market at a cost lower than many competitors all\naround the world. \n \nIn 2019, cannabis will enter the mainstream. Demand is set to grow. And\nWayland's low production costs will give it an edge over its competitors. \n \nSavvy investors need pay attention. \n \n**Other companies transforming the cannabis sector:** \n \n**Aurora Cannabis** (NYSE:ACB) (TSX:ACB) \n \nRecently, Aurora sealed a supply deal with Mexico's Farmacias Magistrales\nSA, the country's first and, for now, at least, only federally licensed\nimporter of raw materials containing THC. \n \nIn an announcement from Aurora, the company stated that the [ deal\n](https://finance.yahoo.com/news/aurora-cannabis-acquire-mexicos-\nfarmacias-120000326.html) \"firmly establishes Aurora's first-mover advantage\nin one of the world's most populous countries, where more than 130 million\npeople will have federally legal access to a range of Aurora's non-flower\nmedical cannabis products containing THC.\" \n \n**Cronos Group** (NASDAQ: CRON) (TSX: CRON) \n \nThe Canadian firm, though primarily an equity investor, has made some major\nmoves in recent years, wheeling and dealing with some of the hottest names in\nthe sector. Because of its forward-thinking attitude, it has drawn the\nattention of many major mainstream players, including the company behind\nMarlboro , Altria Group. \n \nOn December 7 th , rumors were finally confirmed when Cronos made the [\nofficial announcement ](https://finance.yahoo.com/news/cronos-group-inc-\nannounces-c-121500204.html) of a C$2.4 billion strategic investment from\nAltria. \"Altria is the ideal partner for Cronos Group, providing the resources\nand expertise we need to meaningfully accelerate our strategic growth,\" said\nCronos Group's Mike Gorenstein , Chairman, President and Chief Executive\nOfficer. \n \n**Canopy Growth Corporation** (NYSE:CGC) (TSX:WEED) \n \nCanopy has not stopped making moves in the market, most recently [ swallowing\nup ](https://finance.yahoo.com/news/canopy-growth-finalizes-acquisition-\nagreement-121028393.html) renowned vaporizer producer Stor & Bickel Gmbh &\nCo., the creator of the iconic Volcano\u00ae Medic and the Mighty\u00ae Medic devices \n \nThe \u20ac145 million all-cash deal makes it one of the largest in the marijuana\nsector this year, and Canopy Growth is not likely to stop there. \n \n**Emblem Corp.** (OTCMKTS:EMMBF) (TSX.V: EMC) \n \nRecently, Emblem completed testing on a new oral extended release product with\npartner Canntab Therapeutics. With the successful tests, the companies\nannounced that they will be moving forward into clinical trials. \n \nIn addition to its advancements in the medial field, Emblem is also working\ntowards a safer community, partnering with DriveABLE in an effort to curb\naccidents from impaired drivers. Nick Dean , CEO, Emblem Corp. [ explained\n](https://finance.yahoo.com/news/emblem-partners-driveable-support-\nresearch-110000599.html) , \"Impairment - whether from alcohol, cannabis,\nfatigue, underlying medical conditions, or narcotics - is a serious issue that\naffects safety on roads and in the workplace.\" \n \n**THC Biomed International** (OTCMKTS:THCBF) (CSE:THC) \n \nTHC Biomed operates as a licensed producer under Canada's Marihuana for\nMedical Purposes Regulations. It is also engaged in the research & development\nof the products and services to medical marijuana. \n \nTHC Biomed's recently announced a new THC-based beverage, aiming to appeal to\na broader range of consumers. John Miller CEO explained, \"THC has conducted\nextensive research on cannabis edibles and beverages and I have found our\nproduct to be exclusive in its category.\" \n \nThough THC Biomed may be smaller than some of its more well-known competitors,\nit is just as ambitious. And it's beginning to pay off. [ Earlier this month\n](https://finance.yahoo.com/news/thc-biomed-makes-1st-shipment-113300728.html)\n, the company made its first shipment of cannabis products to its\nSaskatchewan partner, and is rapidly expanding its holdings, with two new\nstrata lot purchases, adding to its growing array of assets. \n \nBy. Joao Piexe \n \n_****IMPORTANT! BY READING OUR CONTENT YOU EXPLICITLY AGREE TO THE FOLLOWING.\nPLEASE READ CAREFULLY**** _ \n \n**Notice for Forward-Looking Information** \n \nCertain statements in this press release are forward-looking statements and\nare prospective in nature. Forward-looking statements are not based on\nhistorical facts, but rather on current expectations and projections about\nfuture events, and are therefore subject to risks and uncertainties which\ncould cause actual results to differ materially from the future results\nexpressed or implied by the forward-looking statements. Such forward-looking\ninformation includes that cannabis use and sales will grow as currently\npredicted; Wayland's intended acquisition of various foreign companies and\nexpansion into international markets; Wayland's plans to bring automation and\nthe latest technology to projects in various locations throughout the world;\nthat it could be granted growing licenses; that Wayland can close on its\nannounced purchases and joint ventures; that through efficiency and technology\nWayland can substantially lower its production costs below competitors; that\nWayland can sell its product at huge gross margins; that Wayland will create a\nrange of cannabis consumer brands, to be distributed through their own digital\nplatforms and retail facilities; that Wayland can successfully integrate\npharmaceutical breakthroughs into its products; that Wayland can achieve its\nsales targets and gross profit margins as planned; and that it will be able to\ncarry out its business plans. \n \nReaders are cautioned to not place undue reliance on forward-looking\ninformation. Forward looking information is subject to a number of risks and\nuncertainties that may cause actual results or events to differ materially\nfrom those contemplated in the forward-looking information, and even if such\nactual results or events are realized or substantially realized, there can be\nno assurance that they will have the expected consequences to, or effects on\nWayland. Such risks and uncertainties include, among other things: that a\nregulatory approval that may be required for the intended acquisitions and\nsubsequent sales are not obtained or are obtained subject to conditions that\nare not anticipated; growing competition for intended acquisitions in the\ncannabis industry; announced or expected acquisitions or joint ventures may\nnot close because of inability to come to final terms, or inability to obtain\nregulatory compliance; potential future competition in the markets Wayland\noperates for sales; competitors may quickly enter the industry; general\neconomic conditions in the US, Canada and globally; the inability to secure\nfinancing necessary to carry out its business plans; competition for, among\nother things, capital and skilled personnel; the possibility that government\npolicies or laws may not permit legal cannabis sales or growth or that\nfavorable laws in place may change; interruption or failure of information or\nother technology systems; the cannabis market may not grow as expected;\nWayland's technology and drive for efficiency may not achieve the expected\nresults and its accomplishments may be limited; Wayland may not successfully\ndevelop a cannabis consumer brand; and it may not be successful in developing\na cannabis based treatment for medical uses; even if it develops a successful\ntreatment, it may not be able to protect its intellectual property; its patent\napplications may be rejected or successfully challenged; Wayland's business\nplan also carries risk, including its ability to comply with all applicable\ngovernmental regulations in a highly regulated business; incubator risk\ninvesting in target companies or projects which have limited or no operating\nhistory and are engaged in activities currently considered illegal under US\nfederal laws; and regulatory risks relating to Wayland's business, financings\nand strategic acquisitions. \n \n**DISCLAIMERS** \n \n**PAID ADVERTISEMENT.** This communication is a paid advertisement and is not\na recommendation to buy or sell securities. Safehaven.com, Leacap Ltd, and\ntheir owners, managers, employees, and assigns (collectively \"the Company\")\nhas been paid by the profiled company or a third party to disseminate this\ncommunication. In this case the Company has been paid by Wayland fifty-eight\nthousand three hundred thirty three US dollars for this article and certain\nbanner ads. This compensation is a major conflict with our ability to be\nunbiased, more specifically: \n \nThis communication is for entertainment purposes only. Never invest purely\nbased on our communication. Gains mentioned in our newsletter and on our\nwebsite may be based on end-of- day or intraday data. We have been compensated\nby Wayland to conduct investor awareness advertising and marketing for\nWayland. Therefore, this communication should be viewed as a commercial\nadvertisement only. We have not investigated the background of the company.\nThe third party, profiled company, or their affiliates may liquidate shares of\nthe profiled company at or near the time you receive this communication, which\nhas the potential to hurt share prices. Frequently companies profiled in our\nalerts experience a large increase in volume and share price during the course\nof investor awareness marketing, which often end as soon as the investor\nawareness marketing ceases. The investor awareness marketing may be as brief\nas one day, after which a large decrease in volume and share price is likely\nto occur. \n \nWe do not guarantee the timeliness, accuracy, or completeness of the\ninformation on our site or in our newsletters. The information in our\ncommunications and on our website is believed to be accurate and correct, but\nhas not been independently verified and is not guaranteed to be correct. The\ninformation is collected from public and non-public sources but is not\nresearched or verified in any way whatsoever to ensure the information is\ncorrect. \n \n**SHARE OWNERSHIP** . The owner of Safehaven.com will not notify the market\nwhen it decides to buy or sell shares of this issuer in the market. The owner\nof Safehaven.com will be buying and selling shares of the featured company for\nits own profit. This is why we stress that you conduct extensive due diligence\nas well as seek the advice of your financial advisor or a registered broker-\ndealer before investing in any securities. **NOT AN INVESTMENT ADVISOR.** The\nCompany is not registered or licensed by any governing body in any\njurisdiction to give investing advice or provide investment recommendation.\nALWAYS DO YOUR OWN RESEARCH and consult with a licensed investment\nprofessional before making an investment. This communication should not be\nused as a basis for making any investment. \n \n**INDEMNIFICATION/RELEASE OF LIABILITY.** By reading this communication, you\nagree to the terms of this disclaimer, including, but not limited to:\nreleasing The Company, its affiliates, assigns and successors from any and all\nliability, damages, and injury from the information contained in this\ncommunication. You further warrant that you are solely responsible for any\nfinancial outcome that may come from your investment decisions. \n \n**RISK OF INVESTING.** Investing is inherently risky. While a potential for\nrewards exists, by investing, you are putting yourself at risk. You must be\naware of the risks and be willing to accept them in order to invest in any\ntype of security. Don't trade with money you can't afford to lose. This is\nneither a solicitation nor an offer to Buy/Sell securities. DISCLAIMER:\nSafehaven.com is Source of all content listed above. FN Media Group, LLC\n(FNM), is a third party publisher and news dissemination service provider,\nwhich disseminates electronic information through multiple online media\nchannels. FNM is NOT affiliated in any manner with Safehaven.com or any\ncompany mentioned herein. The commentary, views and opinions expressed in this\nrelease by Safehaven.com are solely those of Safehaven.com and are not shared\nby and do not reflect in any manner the views or opinions of FNM. FNM is not\nliable for any investment decisions by its readers or subscribers. FNM and its\naffiliated companies are a news dissemination and financial marketing\nsolutions provider and are NOT a registered broker/dealer/analyst/adviser,\nholds no investment licenses and may NOT sell, offer to sell or offer to buy\nany security. FNM was not compensated by any public company mentioned herein\nto disseminate this press release. FNM HOLDS NO SHARES OF ANY COMPANY NAMED\nIN THIS RELEASE. This release contains \"forward-looking statements\" within\nthe meaning of Section 27A of the Securities Act of 1933, as amended, and\nSection 21E the Securities Exchange Act of 1934, as amended and such forward-\nlooking statements are made pursuant to the safe harbor provisions of the\nPrivate Securities Litigation Reform Act of 1995. \"Forward-looking statements\"\ndescribe future expectations, plans, results, or strategies and are generally\npreceded by words such as \"may\", \"future\", \"plan\" or \"planned\", \"will\" or\n\"should\", \"expected,\" \"anticipates\", \"draft\", \"eventually\" or \"projected\". You\nare cautioned that such statements are subject to a multitude of risks and\nuncertainties that could cause future circumstances, events, or results to\ndiffer materially from those projected in the forward-looking statements,\nincluding the risks that actual results may differ materially from those\nprojected in the forward-looking statements as a result of various factors,\nand other risks identified in a company's annual report on Form 10-K or 10-KSB\nand other filings made by such company with the Securities and Exchange\nCommission. You should consider these factors in evaluating the forward-\nlooking statements included herein, and not place undue reliance on such\nstatements. The forward-looking statements in this release are made as of the\ndate hereof and FNM undertakes no obligation to update such statements. \n**Contact Information:** \nMedia Contact - FN Media Group LLC \ne-mail: [ editor@financialnewsmedia.com\n](mailto:editor@financialnewsmedia.com) \nU.S. Phone: +1(954)345-0611 SOURCE Safehaven.com | \n---|---|--- \n| \n_**Company Codes:** _ NYSE:CGC, Toronto:WEED, NASDAQ-NMS:CRON, Toronto:CRON, NYSE:ACB, Toronto:ACB, OTC-BB:EMMBF, TorontoVE:EMC, OTC-BB:THCBF | \n \n * [ Twitter ](https://twitter.com/intent/tweet?url=https%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets&text=The%20Secret%20Tech%20Which%20Could%20Transform%20Cannabis%20Markets)\n * [ LinkedIn ](https://www.linkedin.com/shareArticle?url=https%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets&mini=true&title=The%20Secret%20Tech%20Which%20Could%20Transform%20Cannabis%20Markets&summary=Wayland%20Group%20%28WAYL.CN%20-%20MRRCF%29%20can%20produce%20cannabis%20at%20%240.05%20a%20gram%20in%20South%20American%20and%20sells%20cannabis%20for%20up%20to%20%2416%20in%20some%20European%20markets&source=BioSpace)\n * [ Facebook ](https://www.facebook.com/dialog/share?app_id=2120989681618413&display=popup&href=https%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets)\n * [ Email ](mailto:?subject=Check%20out%20this%20article%20on%20BioSpace&body=The%20Secret%20Tech%20Which%20Could%20Transform%20Cannabis%20Markets%0A%0Ahttps%3A%2F%2Fwww.biospace.com%2Fthe-secret-tech-which-could-transform-cannabis-markets%0A%0AWayland%20Group%20%28WAYL.CN%20-%20MRRCF%29%20can%20produce%20cannabis%20at%20%240.05%20a%20gram%20in%20South%20American%20and%20sells%20cannabis%20for%20up%20to%20%2416%20in%20some%20European%20markets)\n * [ Print ](javascript:window.print\\(\\))\n\n[ Europe ](https://www.biospace.com/europe)\n\nMORE ON THIS TOPIC\n\n[ ](https://www.biospace.com/policy/with-tariffs-looming-eu-and-us-pharmas-\nmake-demands-of-european-commission)\n\n[ Europe ](https://www.biospace.com/europe)\n\n[ With Tariffs Looming, EU and US Pharmas Make Demands of European Commission\n](https://www.biospace.com/policy/with-tariffs-looming-eu-and-us-pharmas-make-\ndemands-of-european-commission)\n\nApril 16, 2025\n\n\u00b7\n\n2 min read\n\n\u00b7\n\n[ Tristan Manalac ](https://www.biospace.com/tristan-manalac)\n\n[ ](https://www.biospace.com/job-trends/the-5-largest-biopharma-layoffs-\nof-q1-2025)\n\n[ Layoffs ](https://www.biospace.com/layoffs)\n\n[ The 5 Largest Biopharma Layoffs of Q1 2025 ](https://www.biospace.com/job-\ntrends/the-5-largest-biopharma-layoffs-of-q1-2025)\n\nApril 10, 2025\n\n\u00b7\n\n5 min read\n\n\u00b7\n\n[ Angela Gabriel ](https://www.biospace.com/angela-gabriel)\n\n[ ](https://www.biospace.com/drug-development/sareptas-duchenne-gene-therapy-\nplaced-on-hold-in-europe-pending-death-investigation)\n\n[ Duchenne muscular dystrophy ](https://www.biospace.com/duchenne-muscular-\ndystrophy)\n\n[ Committee Recommends EU Trials of Sarepta\u2019s Elevidys Continue, Day After\nHolds ](https://www.biospace.com/drug-development/sareptas-duchenne-gene-\ntherapy-placed-on-hold-in-europe-pending-death-investigation)\n\nApril 4, 2025\n\n\u00b7\n\n2 min read\n\n\u00b7\n\n[ Dan Samorodnitsky ](https://www.biospace.com/dan-samorodnitsky)\n\n[ ](https://www.biospace.com/policy/eu-rejects-lillys-alzheimers-drug-kisunla-\nfollowing-same-path-as-rival-leqembi)\n\n[ Alzheimer\u2019s disease ](https://www.biospace.com/policy)\n\n[ EU Rejects Lilly\u2019s Alzheimer\u2019s Drug Kisunla, Following Same Path as Rival\nLeqembi ](https://www.biospace.com/policy/eu-rejects-lillys-alzheimers-drug-\nkisunla-following-same-path-as-rival-leqembi)\n\nMarch 28, 2025\n\n\u00b7\n\n2 min read\n\n\u00b7\n\n[ Dan Samorodnitsky ](https://www.biospace.com/dan-samorodnitsky)\n\n[ ](/)\n\n_BioSpace_ is the digital hub for life science news and jobs. We provide\nessential insights, opportunities and tools to connect innovative\norganizations and talented professionals who advance health and quality of\nlife across the globe.\n\n\u00a9 1985 - 2025 BioSpace.com. All rights reserved.\n\n * [ twitter ](https://twitter.com/biospace)\n * [ instagram ](https://www.instagram.com/biospacenews/)\n * [ facebook ](https://www.facebook.com/biospacecommunity)\n * [ linkedin ](https://www.linkedin.com/company/biospaceinc)\n\n",
"url": "https://www.biospace.com/the-secret-tech-which-could-transform-cannabis-markets"
},
"reason": "This article from BioSpace discusses technology that could transform cannabis markets. It mentions Cronos Group in the context of the industry. BioSpace is a reputable source for biotech and pharmaceutical news.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "Article from BioSpace discussing technology in cannabis markets, mentioning Cronos Group.",
"url": "https://www.biospace.com/the-secret-tech-which-could-transform-cannabis-markets"
},
{
"content": {
"metadata": {
"ext_id": "21f36d23-8c61-4ede-a5b0-62b0b520dbf3",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918000939/a2234513zex-99_1.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501290.d634ff9\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918000939/a2234513zex-99_1.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by Cronos Group. SEC filings are considered highly reliable sources of information about publicly traded companies.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "SEC filing by Cronos Group.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918000939/a2234513zex-99_1.htm"
},
{
"content": {
"metadata": {
"ext_id": "886720b8-c06e-499c-8db0-77e0b769613b",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\n_Leading Companies from Emerging Industries Join Forces to Efficiently Produce\nHigh-Purity Cannabinoids at Scale_\n\nBOSTON and TORONTO , Sept. 4, 2018 /CNW/ - Today, [ Cronos Group\n](https://thecronosgroup.com/) Inc. (NASDAQ:CRON) (TSX: CRON ) (\" **Cronos\nGroup** \"), a geographically diversified and vertically integrated cannabis\ngroup, and [ Ginkgo Bioworks ](https://www.ginkgobioworks.com/) Inc. (\"\n**Ginkgo** \"), the organism company, announced a landmark partnership to\nproduce cultured cannabinoids. Using its platform technology for organism\ndesign and development, Ginkgo will complement Cronos Group's technologies for\nproducing a full spectrum of cannabinoids. As part of this unprecedented deal,\nCronos Group has agreed to issue a specific number of common shares in\ntranches subject to Ginkgo's achievement of certain production milestones.\n\nGinkgo Bioworks (CNW Group/Cronos Group Inc.)\n\nAs two of the leading companies in their respective industries, Cronos Group\nand Ginkgo believe that they are best-suited to unlock the potential of\ninnovation in the cannabis industry. Cronos Group brings a deep understanding\nof the plant's biological structure and function, while Ginkgo brings 10 years\nof experience designing microorganisms for the production of cultured products\nacross pharmaceuticals, agriculture, flavors, fragrances, and more.\n\nCannabinoids span a range of molecules with different properties, and ongoing\nresearch has demonstrated potential medicinal uses for indications such as\nchronic pain, nervous disorders, nausea, weight loss, and some mental\nillnesses. However, many pharmaceutically relevant cannabinoids are present\nonly at very low quantities in the cannabis plant, making them economically\nimpractical, difficult or impossible to extract at high purity and scale. The\nlandmark partnership between Cronos Group and Ginkgo will leverage the\nexpertise of both organizations to solve this challenge and make more\naccessible the benefits of cannabinoids in an economically sustainable way.\n\n\"Cronos Group is building the world's most innovative cannabinoid platform,\"\nsaid Mike Gorenstein , CEO of Cronos Group. \"The potential uses of\ncannabinoids are vast, but the key to successfully bringing cannabinoid-based\nproducts to market is in creating reliable, consistent, and scalable\nproduction of a full spectrum of cannabinoids, not just THC and CBD. We are\nthrilled to partner with Ginkgo; their biological engineering capabilities and\ndisruptive technology platform are unrivaled. Together we can revolutionize\nthe cannabis industry.\"\n\n\"Legal cannabis is a multibillion-dollar industry with no signs of slowing\ndown, but providers will need to innovate to keep up with demand for better\nproducts, including those taking advantage of rare and difficult to extract\ncannabinoids,\" said Jason Kelly , CEO and co-founder of Ginkgo Bioworks.\n\"Engineering strains of yeast that can produce these cannabinoids via\nfermentation is a perfect fit for our organism design platform and we are\nexcited to be working with Cronos Group as they lead the way to high-quality\ncannabinoid treatments.\"\n\n**Partnership Details**\n\nCronos Group's wide-ranging portfolio of cannabis products is empowered by its\ndeep expertise in plant genetics. With access to an array of varietals and a\ndiverse set of production methodologies, Cronos Group has gathered extensive\ndata on cannabinoids and their properties, ultimately learning from and using\nthe plant to generate blueprints for best-in-class, full spectrum cannabinoid\nrecipes.\n\nGinkgo's platform for engineering biology is powered by state-of-the-art\nautomation and custom-built software used to design and print DNA. With the\nworld's largest library of designed DNA sequences, Ginkgo has extensive\nexpertise in the biology of enzymes for the production of molecules used in\nindustries from flavor and fragrance to food to pharmaceuticals. By\ntransferring the DNA sequences for cannabinoid production into yeast, Ginkgo\nexpects to develop strains that produce cultured cannabinoids at high quality\nand purity in a process similar to brewing beer in a microbrewery. In addition\nto allowing for the efficient and scalable production of cannabinoids, the use\nof Ginkgo's platform is expected to unlock access to potentially medically-\nimportant and valuable cannabinoids that are present only in low quantities in\nthe plant.\n\nThe partnership between Ginkgo and Cronos Group will focus on the scalable and\nconsistent production of a wide range of cannabinoids, including THC, CBD and\na variety of other lesser known and rarer products. These cultured cannabinoid\nmolecules are identical to those extracted from the plants grown with\ntraditional methods, but are created by leveraging the power of biological\nmanufacturing via fermentation.\n\n**Partnership Transaction Terms**\n\nUnder the exclusive partnership, Ginkgo will work with Cronos Group on\nresearch and development of microorganisms capable of producing certain target\ncannabinoids in a scalable and highly efficient manner. Cronos Group will fund\ncertain R&D and foundry expenses expected to be approximately US$22 million\nsubject to the achievement of certain milestones. In addition, upon Ginkgo's\ndemonstration that the microorganisms are capable of producing the target\ncannabinoids above a minimum productivity level, Cronos Group will issue up to\napproximately 14.7 million common shares in the aggregate, in accordance with\nthe milestone allocations described below. The common shares allocated were\nbased on the 60-day VWAP for Cronos Group common stock of US$6.81 as of\nJuly 17, 2018 , when the letter of intent was executed by both parties. The\ntransaction had an aggregate value of US$100 million assuming all milestones\nare met. Tranches of these common shares will be issued once each of the\ntarget cannabinoids can be produced for less than US$1,000 per kilogram of\npure cannabinoid at a scale of greater than 200 liters as follows: THC(A),\n20%; CBD(A), 15%; CBC(A), 10%; CBG(A), 10%; THCV(A), 15%; CBGV(A), 10%;\nCBDV(A), 10%; CBCV(A), 10%.\n\nCronos Group will have the exclusive right to use and commercialize the key\npatented intellectual property related to the production of the target\ncannabinoids globally. All R&D work undertaken by Ginkgo will be conducted in\ncompliance with all U.S. federal laws regarding controlled substances and\nGinkgo is coordinating activities closely with both Federal and State\nagencies. Cronos Group intends to produce and distribute the target\ncannabinoids globally and has received confirmation that this method of\nproduction is permitted under the _Cannabis Act_ ( Canada ) \u2013 the legal\nframework that will regulate cannabis in Canada .\n\nThis landmark deal will bring the power of biological manufacturing to the\ncannabis industry, allowing for cannabinoid production at large scale and with\ngreater efficiency than is currently possible with traditional growing and\nextracting methods.\n\n**Analyst/Investor Conference Call and Webcast** \nCronos Group and Ginkgo Bioworks will host a conference call and live webcast\non Tuesday, September 4, 2018 at 8:30 a.m. EST to discuss the landmark\npartnership. Instruction for the conference call are provided below:\n\n_Live Webcast:_ [ https://thecronosgroup.com/investor-relations\n](https://thecronosgroup.com/investor-relations) \n_Toll-free dial-in number:_ (888) 231-8191 _ \nInternational dial-in number: _ (647) 427-7450 \n_Conference ID:_ 9537928\n\nAdditionally, an audio replay of the conference call will be available two\nhours after the call's completion and until 11:59 p.m. EST on September 18,\n2018 . Instructions for the audio replay are provided below:\n\n_Toll-free dial-in number:_ (855) 859-2056 \n_Passcode:_ 9537928\n\n**About Ginkgo Bioworks:** \nGinkgo Bioworks is the organism company, using the power of biology to build\nsustainable products in food, pharma, manufacturing, and more. Using\nsophisticated software and state of the art automation,\n\nGinkgo's powerful platform for genetic engineering is making biology easier to\nengineer, enabling new products to be renewably manufactured with biology. For\nmore information, visit [ www.ginkgobioworks.com\n](http://www.ginkgobioworks.com/) .\n\n**About Cronos Group: \n** Cronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across four continents. Cronos Group operates two\nwholly-owned Canadian licensed producers regulated under Health Canada's\nAccess to Cannabis for Medical Purposes Regulations: Peace Naturals Project\nInc., which was the first non-incumbent medical cannabis license granted by\nHealth Canada, and Original BC Ltd., which is based in the Okanagan Valley,\nBritish Columbia . Cronos Group has multiple international production and\ndistribution platforms across five continents. Cronos Group intends to\ncontinue to rapidly expand its global footprint as it focuses on building an\ninternational iconic brand portfolio and develop disruptive intellectual\nproperty. Cronos Group is committed to building industry leading companies\nthat transform the perception of cannabis and responsibly elevate the consumer\nexperience.\n\n**Forward-looking statements \n** This news release contains \"forward-looking information\" and \"forward-\nlooking statements\" within the meaning of applicable Canadian and U.S.\nsecurities laws. All information contained herein that is not clearly\nhistorical in nature may constitute forward-looking information. In some\ncases, forward-looking statements can be identified by words or phrases such\nas \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify forward-looking statements. Some of the\nforward-looking statements contained in this press release include Cronos\nGroup's expectations regarding the potential success of, and the costs and\nbenefits associated with, its partnership with Ginkgo, expectations about the\ndevelopment of the cannabis industry and potential demand for cultured\ncannabinoids, expectations of the regulatory framework for cultured\ncannabinoids as well as the Cronos Group's intention to continue to rapidly\nexpand its global footprint, build an international iconic brand portfolio and\ndevelop disruptive intellectual property. Forward-looking statements are\nnecessarily based upon a number of estimates and assumptions that, while\nconsidered reasonable by management, are inherently subject to significant\nbusiness, economic and competitive risks, uncertainties and contingencies that\nmay cause actual financial results, performance or achievements to be\nmaterially different from the estimated future results, performance or\nachievements expressed or implied by those forward-looking statements and the\nforward-looking statements are not guarantees of future performance. A\ndiscussion of some of the material risks applicable to Cronos Group can be\nfound in its current MD&A and Annual Information Form, both of which have been\nfiled on SEDAR and can be accessed at [ www.sedar.com ](http://www.sedar.com/)\n. The forward-looking information included in this news release is made as of\nthe date of this news release and, except as required by law, Cronos Group\ndisclaims any obligation to update or revise any forward-looking statements.\nReaders are cautioned not to put undue reliance on these forward-looking\nstatements.\n\nSOURCE Cronos Group Inc.\n\nThe Cronos Group, Anna Shlimak, Investor Relations, Tel: (416) 504-0004, [\n[email protected] ](/cdn-cgi/l/email-protection) ; Ginkgo Bioworks, Grace\nEmery, Media relations, 347-230-6640, [ [email protected] ](/cdn-cgi/l/email-\nprotection)\n\n#### Related Links\n\n[ thecronosgroup.com ](http://thecronosgroup.com \"Link to\nhttp://thecronosgroup.com\") \n\n### Modal title\n\n## Organization Profile\n\n### [ Cronos Group Inc. ](/news/cronos-group-inc/)\n\n## Related Organization(s)\n\n### [ Ginkgo Bioworks ](/news/ginkgo-bioworks/)\n\n## Contact Cision\n\n * [ 866-245-2317 ](tel:866-245-2317) from 8 AM - 10 PM ET \n\n * [ Become a Client ](/contact-us/ \"Become a Client\")\n * [ Request a Demo ](/request-a-demo/ \" Request a Demo \")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \" Editorial Bureaus \")\n * [ Partnerships ](/contact-us/partnerships/ \" Partnerships \")\n * [ General Enquiries ](/general-inquiries/ \" General Enquiries \")\n * [ Media ](/contact-us/media/ \" Media\")\n\n[ ](https://www.linkedin.com/company/cisioncanada/ \"LinkedIn\")\n\n## Products\n\n * [ Cision Communications Cloud\u00ae ](https://www.newswire.ca/products/communications-cloud \"Cision Communications Cloud\u00ae\")\n * [ Media Monitoring ](https://www.cision.ca/monitoring-analytics/online/ \"Media Monitoring\")\n * [ Content Distribution ](https://www.newswire.ca/products/content-distribution \"Content Distribution\")\n * [ Multimedia Distribution ](https://www.newswire.ca/products/multimedia-distribution-options \"Multimedia Distribution\")\n * [ Measurement & Analytics ](https://www.newswire.ca/products/Media-Measurement--Analytics \"Measurement & Analytics\")\n * [ Investor Relations ](https://www.newswire.ca/products/investor-relations \"Investor Relations\")\n\n## About\n\n * [ About Cision Canada ](http://cnw.en.mediaroom.com/aboutus/ \"About Cision Canada\")\n * [ About Cision ](http://www.cision.ca/ \"About Cision\")\n * [ Media Partners ](https://www.newswire.ca/contact-us/media-partners.html \"Media Partners\")\n * [ Careers ](https://www.cision.ca/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.ca/about/accessibility/ \"Accessibility Statement\")\n * \n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/en/ \"Canada\")\n * [ Czech ](https://www.prnewswire.com/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](https://www.prnewswire.com/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](https://www.prnewswire.com/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](https://www.prnewswire.com/fr/communiques-de-presse/ \"France\")\n * [ Germany ](https://www.prnewswire.com/de/pressemitteilungen/ \"Germany\")\n * [ India ](https://www.prnewswire.com/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](https://www.prnewswire.com/il/news-releases/ \"Israel\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](https://www.prnewswire.com/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](https://www.prnewswire.com/nl/persberichten/ \"Netherlands\")\n * [ Norway ](https://www.prnewswire.com/no/pressemeldinger/ \"Norway\")\n * [ Poland ](https://www.prnewswire.com/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](https://www.prnewswire.com/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](https://www.prnewswire.com/ru/press-releases/ \"Russia\")\n * [ Slovakia ](https://www.prnewswire.com/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](https://www.prnewswire.com/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](https://www.prnewswire.com/sv/pressmeddelanden/ \"Sweden\")\n * [ United States ](https://www.prnewswire.com/ \"United States\")\n * [ Vietnam ](https://www.prnewswire.com/vn/ \"Vietnam\")\n\n## My Services\n\n * [ All News Releases ](/news-releases/news-releases-list/ \"All News Releases\")\n * [ Online Member Centre \n](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre<br />\n\n\")\n\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud\u00ae ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\u00ae\")\n * [ my CNW \n](/mycnw/login/ \"my CNW<br />\n\n\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact Cision ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](http://cnw.en.mediaroom.com/aboutus/)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Centre ](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre\")\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\")\n * [ my CNW ](/mycnw/login/ \"my CNW\")\n\n[ __ 877-269-7890 \nfrom 8 AM - 10 PM ET ](tel:877-269-7890 \"Contact Us\")\n\n * [ Terms of Use ](http://cnw.en.mediaroom.com/privacy-terms-of-use \"Terms of Use\")\n * [ Information Security Policy ](/cision-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\nCopyright \u00a9 2025 CNW Group Ltd. All Rights Reserved. A Cision company.\n\n",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"reason": "This is a news release distributed by Newswire.ca announcing a partnership between Cronos Group and Ginkgo Bioworks. It is a reliable source as it is a direct announcement from the companies involved.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "News release announcing a partnership between Cronos Group and Ginkgo Bioworks.",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
{
"content": {
"metadata": {
"ext_id": "2068534d-24d7-4223-89b4-a01fe1129eee",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
"page_content": "## We've detected unusual activity from your computer network\n\nTo continue, please click the box below to let us know you're not a robot.\n\n### Why did this happen?\n\nPlease make sure your browser supports JavaScript and cookies and that you are\nnot blocking them from loading. For more information you can review our [\nTerms of Service ](/notices/tos) and [ Cookie Policy ](/notices/tos) .\n\n### Need Help?\n\nFor inquiries related to this message please [ contact our support team\n](/feedback) and provide the reference ID below.\n\nBlock reference ID:fac89a41-210f-11f0-9db1-5e269bbe34ed\n\nGet the most important global markets news at your fingertips with a [\nBloomberg.com ](https://bloomberg.com) subscription.\n\n[ SUBSCRIBE NOW ](/subscription)\n\n",
"url": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
"reason": "This Bloomberg article discusses the marijuana industry's efforts to reduce its environmental impact and mentions Cronos Group. Bloomberg is a reputable news source.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "Bloomberg article discussing environmental impact reduction efforts in the marijuana industry, mentioning Cronos Group.",
"url": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
{
"content": {
"metadata": {
"ext_id": "bc716030-9e7e-47df-8734-c03b1a044840",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://finance.yahoo.com/news/why-cronos-group-cron-among-062243072.html"
},
"page_content": "Oops, something went wrong\n\nUnlock stock picks and a broker-level newsfeed that powers Wall Street.\n\n[ ](http://www.insidermonkey.com \"Insider Monkey\")\n\nWhy Cronos Group (CRON) Is Among the Best Cannabis Stocks To Invest In?\n\nSultan Khalid\n\nSun, Dec 15, 2024, 10:22 PM 6 min read\n\n## In This Article:\n\n[ CRON +1.13% ](/quote/CRON/ \"CRON\")\n\nWe recently compiled a list of the [ **11 Best Cannabis Stocks To Invest In**\n](https://www.insidermonkey.com/blog/11-best-cannabis-stocks-to-invest-\nin-1407219/) . In this article, we are going to take a look at where Cronos\nGroup Inc. (NASDAQ:CRON) stands against the other best cannabis stocks to\ninvest in.\n\nThe history of cannabis cultivation in America dates back to the early\ncolonists, who grew hemp for textiles and rope. The plant was also widely used\nas a patent medicine during the 19th and early 20th centuries, described in\nthe United States Pharmacopeia for the first time in 1850. Several political\nand racial factors led to the criminalization of cannabis in 1937 with the\npassage of the Marijuana Tax Act, but its legal status is now finally changing\nin many places.\n\n**READ ALSO:** [ **20 States with the Highest Weed Consumption in the US**\n](https://www.insidermonkey.com/blog/20-states-with-the-highest-weed-\nconsumption-in-the-us-1365267/)\n\n## **Cannabis Industry in the United States**\n\nThe United States of America is **the country that consumes the most weed** in\nthe world. As we mentioned in our article \u2013 [ **30 Cities with the Highest\nWeed Consumption in the US** ](https://www.insidermonkey.com/blog/30-cities-\nwith-the-highest-weed-consumption-in-the-us-1400161/) \u2013 the American legal\ncannabis industry fared well in 2023 as legal sales across the 38 states that\nallow some form of regulated marijuana reached $28.8 billion, a 10.3% increase\nfrom the previous year. Meanwhile, the legal cannabis industry also added\n22,952 new jobs last year \u2013 a sign that the national business climate has\nsomewhat stabilized following the turmoil of the previous two years. According\nto the 2024 Vangst Jobs Report, there were over 440,445 jobs supported by\nlegal cannabis nationwide as of early 2024, an increase of 5.4% from 2023. The\nincreasing legalization of cannabis and rising acceptance of its use for\nmedical purposes are the key factors fueling the industry. Growth is also\nexpected to come from new markets. One such example is Nebraska\u2019s vote in\nfavor of legalizing medical marijuana last month.\n\nAs of the writing of this article, [ **24 states have legalized recreational\nweed in America** ](https://www.insidermonkey.com/blog/24-states-that-\nlegalized-recreational-weed-in-the-us-1243392/) , in addition to the District\nof Columbia. However, possessing or selling marijuana remains a crime under\nfederal law, punishable by prison time and fines.\n\n### **Major Blow to the US Cannabis Revolution**\n\nIn a significant setback for America\u2019s legal cannabis industry, Florida voters\nrejected a ballot measure to legalize recreational marijuana in November. The\nmeasure, known as Amendment 3, got 55.9% support, failing to meet the required\n60% threshold. This was despite historic levels of funding, a rigorous\nadvertising campaign, and even an endorsement from President-elect Donald\nTrump.\n\nFlorida, with its population of 20 million people, is already home to the\ncountry\u2019s largest medical marijuana market, boasting an annual revenue of $2\nbillion. The Sunshine State is also a popular tourist destination (especially\nduring spring break) and attracts more than 140 million tourists every year.\nIf Amendment 3 had been passed, Florida was expected to become a $6 billion\ncannabis market by 2026.\n\nThrough the Smart & Safe Campaign, Florida\u2019s cannabis companies and individual\ndonors collectively contributed more than $150 million to get legalization\nenacted into law, with most of it coming from the largest medical marijuana\noperator in the state. On the other hand, Florida Governor Ron DeSantis, who\naggressively campaigned against Amendment 3, spent an estimated $50 million of\ntaxpayer money on radio and television ads to successfully convince enough\nvoters to reject the measure. Meanwhile, hedge fund billionaire Ken Griffin\nalso came out against legalization and donated $12 million to the Vote No On 3\ncampaign.\n\nThis setback inevitably had an impact on cannabis stocks, which witnessed a\ndownturn following the news of the rejection. Amplify Alternative Harvest ETF,\nthe first US ETF to target the global cannabis industry, has fallen by almost\n30% since November 4, closing at $2.33 on December 13, 2024.\n\nFlorida voters will now have to wait for two more years before cannabis\nlegalization can get back on the ballot.\n\nA close up of cannabis plants growing in an outdoor facility, symbolizing the\nproduct of the cannabinoid company.\n\n### **Our Methodology**\n\nTo collect data for this article, we scanned Insider Monkey\u2019s database of 900\nhedge funds and picked the top 11 companies operating in the cannabis sector\nwith the highest number of hedge fund investors. When two or more companies\nhad the same number of hedge funds investing in them, we ranked them by the\nrevenue of their last financial year instead. Following are the **Best\nCannabis Stocks According to Most Hedge Funds** .\n\nAt Insider Monkey we are obsessed with the stocks that hedge funds pile into.\nThe reason is simple: our research has shown that we can outperform the market\nby imitating the top stock picks of the best hedge funds. Our quarterly\nnewsletter\u2019s strategy selects 14 small-cap and large-cap stocks every quarter\nand has returned 275% since May 2014, beating its benchmark by 150 percentage\npoints ( **[ see more details here\n](https://www.insidermonkey.com/premium/newsletters/quarterly) ** ).\n\n### **Cronos Group Inc. (NASDAQ:** [ **CRON**\n](https://finance.yahoo.com/quote/CRON) **)**\n\n**_Number of Hedge Fund Holders: 13_ **\n\nCronos Group Inc. (NASDAQ:CRON), a cannabinoid company based in Canada, is\nengaged in the cultivation, manufacture, and marketing of cannabis and\ncannabis-derived products for both medical and adult-use markets. A noteworthy\naspect of the company is its close association with Altria Group, a bigwig in\nthe tobacco industry which maintains a 41% stake in Cronos that it acquired\nfor $1.8 billion in 2019.\n\nCronos Group Inc. (NASDAQ:CRON) also hasn\u2019t been able to make any net profit\nover the last 4 years, but its revenue has improved consistently. That said,\nthe company had a solid Q3 2024 as it reported a net revenue uptick of 38% YoY\nto $34.4 million. This comes after Cronos had already reported a notable 46%\nYoY increase in net revenue in Q2, highlighting its strong **[ growth\n](https://www.insidermonkey.com/blog/cronos-group-inc-cron-a-bull-case-\ntheory-2-1392842/) ** trajectory. The majority of this growth stems from its\nincreasing market share in Canada, despite the high excise taxes and\noverregulation in the country. Notably, Cronos Group Inc. (NASDAQ:CRON)\nmanaged to deliver such impressive results while also decreasing operating\nexpenses by $3 million YoY (adjusted for non-cash impairments), significantly\nimproving EBITDA from -$15 million to -$6 million.\n\nCronos Group Inc. (NASDAQ:CRON) maintains a strong balance sheet, enabling it\nto capitalize on future growth opportunities. At the end of Q3, the company\nreported $862 million in cash \u2013 significantly exceeding its current market\ncapitalization \u2013 and additional value in loan receivables and real estate\nassets, with zero debt obligations.\n\nCronos Group Inc. (NASDAQ:CRON) presents a good opportunity to investors,\noffering limited downside risk thanks to its balance sheet strength while\ncapturing market share in multiple countries and improving efficiency.\n\nOverall, CRON **ranks 3rd** on our list of the best cannabis stocks to invest\nin. While we acknowledge the potential for CRON to grow, our conviction lies\nin the belief that some AI stocks hold greater promise for delivering higher\nreturns and doing so within a shorter time frame. If you are looking for an AI\nstock that is more promising than CRON but that trades at less than 5 times\nits earnings, check out our report about the [ **cheapest AI stock**\n](https://www.insidermonkey.com/blog/undervalued-ai-stock-poised-for-massive-\ngains-100x-upside/) .\n\n**READ NEXT:** [ ****8 Best Wide Moat Stocks to Buy Now** **\n](https://www.insidermonkey.com/blog/8-best-wide-moat-stocks-to-buy-according-\nto-analysts-1357153/) ****and** ** [ ****30 Most Important AI Stocks According\nto BlackRock** ** ](https://www.insidermonkey.com/blog/30-most-important-ai-\nstocks-according-to-blackrock-1349208/) ****.** **\n\nDisclosure: None. This article is originally published at **[ Insider Monkey\n](https://www.insidermonkey.com/) . **\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n[ ](/)\n\nCopyright \u00a9 2025 Yahoo. All rights reserved.\n\n[ ](https://twitter.com/YahooFinance \"Follow on Twitter\") [\n](https://facebook.com/yahoofinance \"Follow on Facebook\") [\n](https://www.linkedin.com/company/yahoo-finance \"Follow on LinkedIn\")\n\nPOPULAR QUOTES\n\n[ Dow Jones ](https://finance.yahoo.com/quote/%5EDJI/) [ S&P 500\n](https://finance.yahoo.com/quote/SPY/) [ DAX Index\n](https://finance.yahoo.com/quote/%5EGDAXI/) [ Nvidia\n](https://finance.yahoo.com/quote/NVDA/) [ Tesla\n](https://finance.yahoo.com/quote/TSLA/) [ DJT\n](https://finance.yahoo.com/quote/DJT/) [ Tariffs\n](https://finance.yahoo.com/topic/tariffs/)\n\nEXPLORE MORE\n\n[ Mortgages ](https://finance.yahoo.com/personal-finance/mortgages/) [ Credit\nCards ](https://finance.yahoo.com/personal-finance/credit-cards/) [ Sectors\n](https://finance.yahoo.com/sectors/) [ Crypto Heatmap\n](https://finance.yahoo.com/crypto/heatmap/) [ Financial News\n](https://finance.yahoo.com/news/)\n\nABOUT\n\n[ Data Disclaimer ](https://help.yahoo.com/kb/finance-for-\nweb/SLN2310.html?locale=en_US) [ Help ](https://help.yahoo.com/kb/finance-for-\nweb) [ Feedback ](https://yahoo.uservoice.com/forums/952723-finance-b3) [\nSitemap ](https://finance.yahoo.com/sitemap/) [ Licensing\n](https://info.wrightsmedia.com/yahoo-finance-licensing) [ What's New\n](https://finance.yahoo.com/about/whatsnew/) [ About Our Ads\n](https://policies.oath.com/us/en/oath/privacy/adinfo/index.html) [ Premium\nPlans ](/about/plans/)\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n",
"url": "https://finance.yahoo.com/news/why-cronos-group-cron-among-062243072.html"
},
"reason": "This article on Yahoo Finance discusses Cronos Group and its performance. Yahoo Finance is a reputable source for financial news and analysis.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "Yahoo Finance article discussing Cronos Group's performance.",
"url": "https://finance.yahoo.com/news/why-cronos-group-cron-among-062243072.html"
},
{
"content": {
"metadata": {
"ext_id": "556bc329-7237-4619-8a9a-9d8a4e8d7f43",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2023 Second Quarter Results\n\nAugust 08, 2023 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Industry-leading balance sheet with_ _$841 million_ _in cash and short-term\ninvestments_ \n\n_Increased 2023 operating expense savings target to $20 to $25 million_\n\n_Announces additional initiatives to streamline supply chain and improve cash\nflow_\n\n_Spinach_ _\u00ae_ _was top-10 in retail sales in every category it participates in\n- flower, edible, vape and pre-roll, in Q2 2023_\n\nTORONTO, Aug. 08, 2023 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announces its 2023 second\nquarter business results.\n\n\u201cI am proud of our team\u2019s execution in the second quarter despite facing\ndynamic market conditions across the countries we operate in,\u201d said Mike\nGorenstein, Chairman, President and CEO, Cronos. \u201cOur teams in Canada\ncontinued to push forward in the edibles category, maintaining our number one\nmarket share position while bringing innovation to our pre-roll and vape\nportfolios. Turning to Israel, despite the slowdown in patient growth and\npolitical unrest, our team stayed focused on successfully maintaining one of\nthe top positions in the market, driven by our high-quality flower offerings\nand distribution in nearly all pharmacies. With the new regulations intended\nto create more accessibility for patients set to go into effect in Israel in\nDecember 2023, we continue to be excited about the runway for growth in that\nmarket.\u201d\n\n\u201cWhile we execute on product innovation and revenue growth, we are\nsimultaneously laser-focused on reducing costs across our organization,\u201d\ncontinued Mr. Gorenstein. \u201cOur cost reduction efforts and improved balance\nsheet management continue to yield an improvement in cash flow. Having the\nbest balance sheet in the industry allows us to be patient and selective with\nour growth initiatives, and you will continue to see a methodical approach to\ngrowth. We will continue to push forward on new market growth opportunities\nand expand our portfolio of borderless products to be ready for new markets as\nthey open.\u201d\n\n**_Consolidated Financial Results_ **\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in our condensed\nconsolidated statements of net loss and comprehensive income (loss). Prior\nperiod amounts have been reclassified to reflect the discontinued operations\nclassification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | **Three months ended June 30,** | | **Change** | | **Six months ended June 30,** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | | **2022** | | | | **$** | | **%** \nConsolidated net revenue | | 19,021 | | | | | 21,602 | | | | | (2,581 | ) | | (12 | ) | % | | | 38,516 | | | | | 44,307 | | | | | (5,791 | ) | | (13 | ) | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nCost of sales | | 15,922 | | | | | 17,280 | | | | | (1,358 | ) | | (8 | ) | % | | | 32,490 | | | | | 33,275 | | | | | (785 | ) | | (2 | ) | % \nGross profit | $ | 3,099 | | | | $ | 4,322 | | | | $ | (1,223 | ) | | (28 | ) | % | | $ | 6,026 | | | | $ | 11,032 | | | | $ | (5,006 | ) | | (45 | ) | % \nGross margin ( i ) | | 16 | | % | | | 20 | | % | | | N/A | | | (4 | ) | pp | | | 16 | | % | | | 25 | | % | | | N/A | | | (9 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nNet income (loss) (ii) | $ | (5,663 | ) | | | $ | (17,527 | ) | | | $ | 11,864 | | | 68 | | % | | $ | (23,698 | ) | | | $ | (45,892 | ) | | | $ | 22,194 | | | 48 | | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nAdjusted EBITDA (iii) | $ | (15,905 | ) | | | $ | (16,643 | ) | | | $ | 738 | | | 4 | | % | | $ | (31,587 | ) | | | $ | (32,094 | ) | | | $ | 507 | | | 2 | | % \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nCash and cash equivalents (iv) | $ | 409,428 | | | | $ | 789,543 | | | | $ | (380,115 | ) | | (48 | ) | % | | | | | | | | | | | | | | | | | | \nShort-term investments (iv) | | 431,510 | | | | | 155,352 | | | | | 276,158 | | | 178 | | % | | | | | | | | | | | | | | | | | | \nCapital expenditures (v) | | 502 | | | | | 1,905 | | | | | (1,403 | ) | | (74 | ) | % | | | 1,306 | | | | | 2,639 | | | | | (1,333 | ) | | (51 | ) | % \n \n_(i) Gross margin is defined as gross profit divided by net revenue._ \n_(ii) Net income (loss) of_ _$(5.7) million_ _in_ _Q2_ _2023_ _improved by_\n_$11.9 million_ _from_ _Q2_ _2022_ _. The improvement year-over-year was\nprimarily driven by increased interest income and the reduction in operating\nexpenses._ \n_(iii) See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\u201cAdjusted EBITDA\u201d) to net income (loss)._ \n_(iv) Dollar amounts are as of the last day of the period indicated._ \n_(v) Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets. \n \n_\n\n**Second Quarter** **2023**\n\n * Net revenue of $19.0 million in Q2 2023 decreased by $2.6 million from Q2 2022. The decrease was primarily due to lower cannabis flower sales in Israel due to competitive activity, the slowdown in patient permit authorizations and political unrest, and an adverse price/mix in the Canadian cannabis flower category driving increased excise tax payments as a percent of revenue. Furthermore, the weakened Canadian dollar and Israeli shekel against the U.S. dollar during the current period adversely impacted results. \n * Gross profit of $3.1 million in Q2 2023 decreased by $1.2 million from Q2 2022. The decrease was primarily driven by lower cannabis flower sales in Israel, and an adverse price/mix shift in cannabis flower sales in Canada. \n * Adjusted EBITDA of $(15.9) million in Q2 2023 improved by $0.7 million from Q2 2022. The improvement year-over-year was primarily driven by decreases in general and administrative expenses and research and development expenses due to the Company's cost savings initiatives. \n\n**_Business Updates_ **\n\n**Guidance and Outlook**\n\nThe Company has decided to discontinue providing net revenue guidance and to\nwithdraw our previously announced net revenue target of $100 to $110 million\nfor full-year 2023. The discontinuance of providing net revenue guidance\nreflects turbulent market conditions beyond previous expectations in the\nmarkets in which we operate, specifically, increasing political unrest and\nstagnant patient growth in Israel, the decision to exit the U.S. business, and\ncompetitive activity in Canada. In addition, foreign exchange rates have had\nunfavorable impact on our net revenue.\n\nFollowing a careful evaluation of the Company's global supply chain, the\nCompany announced today the planned wind-down of the Cronos Fermentation\nfacility in Winnipeg, Manitoba, Canada, with intentions to list the facility\nfor sale. Cronos expects to continue to operate the Cronos Fermentation\nfacility with a phased reduction and planned exit by the end of 2023.\n\nThe Company previously increased its operating expense savings target for 2023\nfrom $10 to $20 million to a new range of $20 to $25 million, primarily driven\nby savings in sales and marketing, general and administrative, and research\nand development.\n\nToday, the Company announced incremental operating expense reductions across\nthe organization. The Company anticipates that the exit of the Cronos\nFermentation facility and the additional operating expense reductions\nannounced today will capture an incremental $10 to $15 million in full-year\nsavings in 2024. The organizational and cost savings initiatives are intended\nto position the Company to drive profitable and sustainable growth over time.\n\nCronos anticipates that the net change in cash, defined as the sum of cash and\ncash equivalents and short-term investments, for the last six months of fiscal\nyear 2023 will decline by less than $5 to $10 million. This is an improvement\nto the previous guidance of declining less than $25 million in the remaining\nnine months of fiscal year 2023. The Company maintains its expectation that\nthe net change in cash will be positive in 2024.\n\nThe fiscal year 2023 guidance assumes: (i) the Company will experience\nrelatively consistent foreign exchange and interest rates; (ii) the general\neconomic conditions and regulatory environment in the markets in which Cronos\nparticipates will not materially change; (iii) timely receipt of interest and\nprincipal payments on the GrowCo senior secured credit facility; (iv)\nanticipated interest income of approximately $20 to $25 million for the last\nsix months of fiscal year 2023; (v) steady gross margin profile; and (vi)\nmeeting our target for reducing our operating expenses by $20 to $25 million.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause our actual results to differ materially from these forward-\nlooking statements.\n\n**Brand and Product Portfolio**\n\nThe Spinach \u00ae brand continued to hold its number one market share position\nin the edibles category in Canada in Q2 2023. According to Hifyre data,\nSpinach \u00ae products had an approximate 14.5% market share in the edibles\ncategory expanding to approximately 21.8% within the gummy category alone\nacross the SOURZ by Spinach \u00ae and Spinach FEELZ\u2122 sub-brands. In the second\nquarter, we launched a new SOURZ by Spinach \u00ae flavor, Pink Lemonade, which\nis quickly climbing the market share ranks and is already our fourth-highest-\nranked edible SKU.\n\nSpinach \u00ae pre-rolls are ranked number eight in the category, up from\nnumber-14 in Q4 2022, according to Hifyre. Cronos launched several new\nofferings to bolster the Spinach \u00ae pre-roll portfolio, including Sonic Lemon\nFuel pre-rolls, and three new infused pre-rolls offerings: Fully Charged Pink\nLemonade, Fully Charged Peach Punch, and Fully Charged Strawberry Slurricane.\nWinning in the pre-roll category is a top priority, and we will continue to\nflex our robust product development capabilities to formulate differentiated\nproducts with flavors and rare cannabinoids to win with consumers.\n\nCronos' strong breeding program and portfolio of genetics continued to drive\ngrowth, propelling the Spinach \u00ae brand to become the number two flower brand\nin Canada with a 6.0% market share in June 2023, according to Hifyre. We have\nthree SKUs in the top-10 for market share, led by our GMO Cookies and Wedding\nCake genetics.\n\nSpinach \u00ae was ranked the number seven vape brand in Q2 2023, holding a 4.2%\nmarket share, according to Hifyre. Spinach \u00ae is the number one rare\ncannabinoid vape brand, with our SKUs that feature cannabinol (CBN),\ncannabigerol (CBG), and cannabichromene (CBC), holding the top three spots\namong rare cannabinoid vapes. In July, we launched three new vapes under the\nSpinach \u00ae portfolio. These new vapes come in a 1.2-gram format in the flavor\nofferings: Pink Lemonade, Peach Punch, and Strawberry Slurricane.\n\nCronos intends to launch its Lord Jones \u00ae brand in the Canadian adult-use\nmarket in Q4 2023, bringing Lord Jones \u00ae back to its roots as an adult-use\nbrand. We expect this launch will be highly complementary to our offerings\nunder the Spinach \u00ae brand and will elevate our growing portfolio of\nborderless products.\n\nIn Israel, Cronos launched two new pre-roll offerings under the Peace Naturals\n\u00ae brand, Wedding Rolls and Cocoa Bomba, and a new flower offering with our\nsuccessful Space Cake genetic. In June 2023, the Knesset Health Committee in\nIsrael changed the cannabis regulations streamlining and simplifying the\nprocess for some patients to obtain prescriptions; the new regulations are\nscheduled to take effect in December 2023. For certain medical conditions,\npatients will no longer be required to obtain a license with approval from the\nhealth ministry and doctors can directly prescribe cannabis to those patients.\nThis change simplifies the process for patients and doctors alike and is\nexpected to increase patient count.\n\n**Global Supply Chain**\n\nCronos Growing Company Inc. (\u201cCronos GrowCo\u201d) reported to the Company\npreliminary unaudited net revenue to licensed producers, excluding sales to\nthe Company, of approximately $3.6 million in the second quarter of 2023.\nCronos previously provided GrowCo with a senior secured credit facility, which\ncurrently has approximately $72.4 million outstanding following a principal\nrepayment of $2.5 million by GrowCo in Q2 2023. In addition to principal\nrepayment, Cronos also received $1.7 million in interest payments from GrowCo,\nand a $1.3 million payment from its joint venture partner on its promissory\nnote in Q2 2023, totaling approximately $5.5 million in cash payments to\nCronos in Q2 2023.\n\nIn July 2023, we signed an agreement with one of the leading distributors of\nmedical cannabis in Germany. We anticipate commencing shipments of cannabis in\nthe third quarter of 2023. The recently proposed regulatory change to\nreschedule cannabis, no longer labeling medical cannabis as a narcotic, is\nexpected to unlock significant growth in the market. We intend to launch our\nPeace Naturals \u00ae medical-focused brand in Germany with a goal to make it a\ntop brand similar to our success in Israel.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nAugust 8, 2023, at 8:30 a.m. ET to discuss 2023 Second Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany's website at _https://ir.thecronosgroup.com/events-presentations._\n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology, such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * our expected full year net revenues for 2023; \n * our expected cash and cash equivalents and short-term investment balances; \n * expectations related to our announcement of additional cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations, including the costs, expenses and write-offs associated therewith, the impact on our operations and our financial statements and any future plans to re-enter the U.S. market; \n * expectations related to our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * the timing of the change in the nature of operations at our facility in Stayner, Ontario (the \u201cPeace Naturals Campus\u201d) and the expected costs and benefits from the wind-down of cultivation and certain production activities at the Peace Naturals Campus; \n * our ability to effectively wind-down cultivation and certain production activities at the Peace Naturals Campus in an organized fashion and acquire raw materials from other suppliers, including Cronos Growing Company Inc. (\u201cCronos GrowCo\u201d), and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments, including the strategic partnership (the \u201cGinkgo Strategic Partnership\u201d) with Ginkgo Bioworks Holdings, Inc. (\u201cGinkgo\u201d); \n * our ability or plans to identify, develop, commercialize or expand our technology and research and development (\u201cR&D\u201d) initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of United States (\u201cU.S.\u201d) state and federal law and the scope of any regulations by the U.S. Food and Drug Administration (the \u201cFDA\u201d), the U.S. Drug Enforcement Administration (the \u201cDEA\u201d), the U.S. Federal Trade Commission (the \u201cFTC\u201d), the U.S. Patent and Trademark Office (the \u201cPTO\u201d) and any state equivalent regulatory agencies; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding acquisitions and dispositions and the anticipated benefits therefrom; \n * our ability to timely and effectively remediate any material weaknesses in our internal control over financial reporting; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the uncertainties associated with the COVID-19 pandemic, including our ability, and the abilities of our joint ventures and our suppliers and distributors, to effectively deal with the restrictions, limitations and health issues presented by the COVID-19 pandemic, the ability to continue our production, distribution and sale of our products, and demand for and the use of our products by consumers; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement with the SEC (the \u201cSettlement Order\u201d) and the settlement agreement with the Ontario Securities Commission (\u201cSettlement Agreement\u201d), including complying with any recommendations made by the independent consultant appointed pursuant to the Settlement Order and Settlement Agreement; and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended (the \u201cSecurities Act\u201d), and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to achieve our net revenue\ngrowth and cash and cash equivalents and short-term investment balances for\n2023; (ii) our ability to efficiently and effectively wind-down our operations\nat our Winnipeg, Manitoba facility and realize the expected cost-savings and\nother benefits related thereto, (iii) our ability to efficiently and\neffectively wind-down our operations in the U.S. and realize the expected\ncost-savings and other benefits related thereto, (iv) our ability to realize\nthe expected cost-savings, efficiencies and other benefits of our Realignment\nand other announced cost-cutting measures and employee turnover related\nthereto; (v) our ability to efficiently and effectively wind-down our\ncultivation and certain production activities at the Peace Naturals Campus,\nreceive the benefits of the change in the nature of our operations at our\nPeace Naturals Campus and acquire raw materials on a timely and cost-effective\nbasis from third parties, including Cronos GrowCo; (vi) our ability to realize\nanticipated benefits, synergies or generate revenue, profits or value from our\nacquisitions and strategic investments; (vii) the production and manufacturing\ncapabilities and output from our facilities and our joint ventures, strategic\nalliances and equity investments; (viii) government regulation of our\nactivities and products including, but not limited to, the areas of cannabis\ntaxation and environmental protection; (ix) the timely receipt of any required\nregulatory authorizations, approvals, consents, permits and/or licenses; (x)\nconsumer interest in our products; (xi) competition; (xii) anticipated and\nunanticipated costs; (xiii) our ability to generate cash flow from operations;\n(xiv) our ability to conduct operations in a safe, efficient and effective\nmanner; (xv) our ability to hire and retain qualified staff, and acquire\nequipment and services in a timely and cost-efficient manner; (xvi) our\nability to exercise the PharmaCann Option and realize the anticipated benefits\nof the transaction with PharmaCann; (xvii) our ability to successfully market\nthe Winnipeg, Manitoba facility, and to complete planned dispositions, and, if\ncompleted, obtain our anticipated sales price; (xviii) our ability, and the\nabilities of our joint ventures and our suppliers and distributors, to\neffectively deal with the restrictions, limitations and health issues\npresented by the COVID-19 pandemic and the ability to continue our production,\ndistribution and sale of our products and customer demand for and use of our\nproducts; (xix) general economic, financial market, regulatory and political\nconditions in which we operate; (xx) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxi) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be\ncorrect, and that objectives, strategic goals and priorities will not be\nachieved. A variety of factors, including known and unknown risks, many of\nwhich are beyond our control, could cause actual results to differ materially\nfrom the Forward-Looking Statements in this release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, that we may not be able\nto generate the net revenues we anticipate or achieve our cash and cash\nequivalents and short-term investment balance objectives, that we may not be\nable to wind-down our operations at our Winnipeg, Manitoba facility in a\ndisciplined and cost-effective manner or achieve the anticipated benefits\nthereof or be able to access raw materials on a timely and cost-effective\nbasis from third-parties; that we may be unable to further streamline our\noperations and reduce expenses; that we may not be able to wind-down our U.S.\noperations in a disciplined and cost-effective manner or achieve the\nanticipated benefits thereof or be able to effectively and efficiently re-\nenter the U.S. market in the future; that we may not be able to wind-down\ncultivation and certain production activities at the Peace Naturals Campus in\na disciplined manner or achieve the anticipated benefits of the change in the\nnature of our operations or be able to access raw materials on a timely and\ncost-effective basis from third-parties, including Cronos GrowCo; the risk\nthat the COVID-19 pandemic and the military conflict between Russia and\nUkraine may disrupt our operations and those of our suppliers and distribution\nchannels and negatively impact the demand for and use of our products; the\nrisk that cost savings and any other synergies from the Altria Investment may\nnot be fully realized or may take longer to realize than expected; failure to\nexecute key personnel changes; the risks that our Realignment, the change in\nthe nature of our operations at the Peace Naturals Campus and our further\nleveraging of our strategic partnerships will not result in the expected cost-\nsavings, efficiencies and other benefits or will result in greater than\nanticipated turnover in personnel; lower levels of revenues; the lack of\nconsumer demand for our cannabis products; our inability to reduce expenses at\nthe level needed to meet our projected net change in cash and cash\nequivalents; our inability to manage disruptions in credit markets or changes\nto our credit ratings; unanticipated future levels of capital, environmental\nor maintenance expenditures, general and administrative and other expenses;\ngrowth opportunities not turning out as expected; the lack of cash flow\nnecessary to execute our business plan (either within the expected timeframe\nor at all); difficulty raising capital; the potential adverse effects of\njudicial, regulatory or other proceedings, or threatened litigation or\nproceedings, on our business, financial condition, results of operations and\ncash flows; volatility in and/or degradation of general economic, market,\nindustry or business conditions; compliance with applicable environmental,\neconomic, health and safety, energy and other policies and regulations and in\nparticular health concerns with respect to vaping and the use of cannabis in\nvaping devices; the unexpected effects of actions of third parties such as\ncompetitors, activist investors or federal (including U.S. federal), state,\nprovincial, territorial or local regulatory authorities or self-regulatory\norganizations; adverse changes in regulatory requirements in relation to our\nbusiness and products; legal or regulatory obstacles that could prevent us\nfrom being able to exercise the PharmaCann Option and thereby realizing the\nanticipated benefits of the transaction with PharmaCann; dilution of our fully\ndiluted ownership of PharmaCann and the loss of our rights as a result of that\ndilution; a delay in our remediation of a material weakness in our internal\ncontrol over financial reporting and the improvement of our control\nenvironment and our systems, processes and procedures; and the factors\ndiscussed under Part I, Item 1A \u201cRisk Factors\u201d of the Annual Report on Form\n10-K for the year ended December 31, 2022 and under Part II, Item 1A \u201cRisk\nFactors\u201d in our Quarterly Reports. Readers are cautioned to consider these and\nother factors, uncertainties and potential events carefully and not to put\nundue reliance on Forward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\nAs used in this press release, \u201cCBD\u201d means cannabidiol and \u201cU.S. hemp\u201d has the\nmeaning given to the term \u201chemp\u201d in the U.S. Agricultural Improvement Act of\n2018, including hemp-derived CBD.\n\n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts)_ \n| **As of June 30, 2023** | | **As of December 31, 2022** \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 409,428 | | | $ | 764,644 | \nShort-term investments | | 431,510 | | | | 113,077 | \nAccounts receivable, net | | 12,540 | | | | 23,113 | \nInterest receivable | | 9,452 | | | | 2,469 | \nOther receivables | | 4,839 | | | | 3,298 | \nCurrent portion of loans receivable, net | | 5,035 | | | | 8,890 | \nInventory, net | | 45,190 | | | | 37,559 | \nPrepaids and other current assets | | 6,780 | | | | 7,106 | \nTotal current assets | | 924,774 | | | | 960,156 | \nEquity method investments, net | | 17,646 | | | | 18,755 | \nOther investments | | 67,925 | | | | 70,993 | \nNon-current portion of loans receivable, net | | 71,080 | | | | 72,345 | \nProperty, plant and equipment, net | | 57,695 | | | | 60,557 | \nRight-of-use assets | | 1,571 | | | | 2,273 | \nGoodwill | | 1,057 | | | | 1,033 | \nIntangible assets, net | | 25,462 | | | | 26,704 | \nDeferred tax asset | | 1,137 | | | | 193 | \n**Total assets** | $ | 1,168,347 | | | $ | 1,213,009 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 9,340 | | | $ | 11,163 | \nIncome taxes payable | | 438 | | | | 32,956 | \nAccrued liabilities | | 16,573 | | | | 22,268 | \nCurrent portion of lease obligation | | 1,174 | | | | 1,330 | \nDerivative liabilities | | 37 | | | | 15 | \nCurrent portion due to non-controlling interests | | 364 | | | | 384 | \nTotal current liabilities | | 27,926 | | | | 68,116 | \nNon-current portion due to non-controlling interests | | 1,023 | | | | 1,383 | \nNon-current portion of lease obligation | | 2,050 | | | | 2,546 | \nDeferred tax liability | | 675 | | | | \u2014 | \n**Total liabilities** | | 31,674 | | | | 72,045 | \n| | | \n**Shareholders\u2019 equity** | | | \nShare capital | | 613,152 | | | | 611,318 | \nAdditional paid-in capital | | 45,317 | | | | 42,682 | \nRetained earnings | | 463,153 | | | | 490,682 | \nAccumulated other comprehensive income (loss) | | 18,067 | | | | (797 | ) \nTotal equity attributable to shareholders of Cronos Group | | 1,139,689 | | | | 1,143,885 | \nNon-controlling interests | | (3,016 | ) | | | (2,921 | ) \n**Total shareholders\u2019 equity** | | 1,136,673 | | | | 1,140,964 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,168,347 | | | $ | 1,213,009 | \n \n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Statements of Net Loss and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts,\nunaudited)_ \n| **Three months ended June 30,** | | **Six months ended June 30,** \n| | **2023** | | | | **2022** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 25,798 | | | $ | 27,095 | | | $ | 52,352 | | | $ | 54,173 | \nExcise taxes | | (6,777 | ) | | | (5,493 | ) | | | (13,836 | ) | | | (9,866 | ) \n**Net revenue** | | 19,021 | | | | 21,602 | | | | 38,516 | | | | 44,307 | \nCost of sales | | 15,922 | | | | 17,280 | | | | 32,490 | | | | 33,275 | \n**Gross profit** | | 3,099 | | | | 4,322 | | | | 6,026 | | | | 11,032 | \n**Operating expenses** | | | | | | | \nSales and marketing | | 5,297 | | | | 4,185 | | | | 11,038 | | | | 7,195 | \nResearch and development | | 1,107 | | | | 4,194 | | | | 3,146 | | | | 8,115 | \nGeneral and administrative | | 13,451 | | | | 16,286 | | | | 25,307 | | | | 37,417 | \nRestructuring costs | | \u2014 | | | | 978 | | | | \u2014 | | | | 3,009 | \nShare-based compensation | | 2,331 | | | | 2,583 | | | | 4,866 | | | | 6,199 | \nDepreciation and amortization | | 1,533 | | | | 1,398 | | | | 3,058 | | | | 2,666 | \nImpairment loss on long-lived assets | | \u2014 | | | | \u2014 | | | | \u2014 | | | | 3,493 | \nTotal operating expenses | | 23,719 | | | | 29,624 | | | | 47,415 | | | | 68,094 | \nOperating loss | | (20,620 | ) | | | (25,302 | ) | | | (41,389 | ) | | | (57,062 | ) \n**Other income** | | | | | | | \nInterest income, net | | 12,471 | | | | 3,775 | | | | 23,646 | | | | 5,820 | \nGain (loss) on revaluation of derivative liabilities | | 43 | | | | 3,410 | | | | (22 | ) | | | 13,829 | \nShare of income (loss) from equity method investments | | 270 | | | | 5,197 | | | | (226 | ) | | | 5,197 | \nGain (loss) on revaluation of financial instruments | | 5,193 | | | | (2,112 | ) | | | (2,565 | ) | | | 2,156 | \nImpairment loss on other investments | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (11,238 | ) \nForeign currency transaction loss | | (3,174 | ) | | | (2,852 | ) | | | (4,817 | ) | | | (4,724 | ) \nOther, net | | (26 | ) | | | 49 | | | | 59 | | | | 184 | \nTotal other income | | 14,777 | | | | 7,467 | | | | 16,075 | | | | 11,224 | \nLoss before income taxes | | (5,843 | ) | | | (17,835 | ) | | | (25,314 | ) | | | (45,838 | ) \nIncome tax expense (benefit) | | (180 | ) | | | (308 | ) | | | (1,616 | ) | | | 54 | \nLoss from continuing operations | | (5,663 | ) | | | (17,527 | ) | | | (23,698 | ) | | | (45,892 | ) \nLoss from discontinued operations | | (2,834 | ) | | | (2,811 | ) | | | (4,056 | ) | | | (7,099 | ) \nNet loss | | (8,497 | ) | | | (20,338 | ) | | | (27,754 | ) | | | (52,991 | ) \nNet loss attributable to non-controlling interest | | (137 | ) | | | (117 | ) | | | (225 | ) | | | (132 | ) \nNet loss attributable to Cronos Group | $ | (8,360 | ) | | $ | (20,221 | ) | | $ | (27,529 | ) | | $ | (52,859 | ) \n**Comprehensive income (loss)** | | | | | | | \nNet loss | $ | (8,497 | ) | | $ | (20,338 | ) | | $ | (27,754 | ) | | $ | (52,991 | ) \nOther comprehensive income (loss) | | | | | | | \nForeign exchange gain (loss) on translation | | 16,580 | | | | (24,161 | ) | | | 18,994 | | | | (8,184 | ) \nComprehensive income (loss) | | 8,083 | | | | (44,499 | ) | | | (8,760 | ) | | | (61,175 | ) \nComprehensive income (loss) attributable to non-controlling interests | | (87 | ) | | | 122 | | | | (95 | ) | | | (139 | ) \n**Comprehensive income (loss) attributable to Cronos Group** | $ | 8,170 | | | $ | (44,621 | ) | | $ | (8,665 | ) | | $ | (61,036 | ) \n**Net loss per share** | | | | | | | \nBasic and diluted - continuing operations | $ | (0.01 | ) | | $ | (0.05 | ) | | $ | (0.06 | ) | | $ | (0.12 | ) \nBasic and diluted - discontinued operations | | (0.01 | ) | | | \u2014 | | | | (0.01 | ) | | | (0.02 | ) \nBasic and diluted | $ | (0.02 | ) | | $ | (0.05 | ) | | $ | (0.07 | ) | | $ | (0.14 | ) \n \n \n\n \n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n| \n| **Six months ended June 30,** \n| | **2023** | | | | **2022** | \n**Operating activities** | | | \nNet loss | $ | (27,754 | ) | | $ | (52,991 | ) \nAdjustments to reconcile net loss to cash used in operating activities: | | | \nShare-based compensation | | 4,887 | | | | 6,302 | \nDepreciation and amortization | | 4,785 | | | | 7,051 | \nImpairment loss on long-lived assets | | 205 | | | | 3,493 | \nImpairment loss on other investments | | \u2014 | | | | 11,238 | \nLoss (gain) from investments | | 2,955 | | | | (7,193 | ) \nLoss (gain) on revaluation of derivative liabilities | | 22 | | | | (13,829 | ) \nChanges in expected credit losses on long-term financial assets | | (1,146 | ) | | | (655 | ) \nForeign currency transaction loss | | 4,817 | | | | 4,724 | \nOther non-cash operating activities, net | | (4,012 | ) | | | (1,956 | ) \nChanges in operating assets and liabilities: | | | \nAccounts receivable, net | | 10,623 | | | | 1,981 | \nInterest receivable | | (6,807 | ) | | | (383 | ) \nOther receivables | | (200 | ) | | | 3,973 | \nPrepaids and other current assets | | 480 | | | | (3,759 | ) \nInventory | | (7,259 | ) | | | (8,145 | ) \nAccounts payable | | (2,478 | ) | | | 481 | \nIncome taxes payable | | (32,801 | ) | | | \u2014 | \nAccrued liabilities | | (5,784 | ) | | | (1,523 | ) \nCash flows used in operating activities | | (59,467 | ) | | | (51,191 | ) \n**Investing activities** | | | \nPurchase of short-term investments | | (479,763 | ) | | | (157,300 | ) \nProceeds from short-term investments | | 169,418 | | | | 117,975 | \nDividends received from equity method investment | | 1,299 | | | | \u2014 | \nProceeds from repayment on loan receivables | | 11,388 | | | | 1,573 | \nPurchase of property, plant and equipment | | (1,298 | ) | | | (2,218 | ) \nPurchase of intangible assets | | (8 | ) | | | (421 | ) \nOther investing activities | | \u2014 | | | | 70 | \nCash flows used in investing activities | | (298,964 | ) | | | (40,321 | ) \n**Financing activities** | | | \nWithholding taxes paid on share-based awards | | (782 | ) | | | (2,080 | ) \nOther financing activities, net | | \u2014 | | | | 46 | \nCash flows used in financing activities | | (782 | ) | | | (2,034 | ) \nEffect of foreign currency translation on cash and cash equivalents | | 3,997 | | | | (3,884 | ) \nNet change in cash and cash equivalents | | (355,216 | ) | | | (97,430 | ) \nCash and cash equivalents, beginning of period | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 409,428 | | | $ | 789,543 | \n**Supplemental cash flow information** | | | \nInterest paid | $ | \u2014 | | | $ | \u2014 | \nInterest received | $ | 13,385 | | | $ | 3,490 | \nIncome taxes paid | $ | 32,995 | | | $ | 140 | \n \n** \n**\n\n**Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This\nQuarterly Report refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis Quarterly Report are reconciled to their closest reported U.S. GAAP\nmeasure. Reconciliations of historical adjusted financial measures to\ncorresponding U.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; transaction costs related to strategic projects;\nimpairment loss on other investments; foreign currency transaction loss;\nother, net; loss from discontinued operations; restructuring costs; share-\nbased compensation; and financial statement review costs and reserves related\nto the restatements of our 2019 and 2021 interim financial statements (the\n\u201cRestatements\u201d), including the costs related to the settlement of the\nSecurities and Exchange Commission\u2019s (\u201cSEC\u201d) and the Ontario Securities\nCommission\u2019s (\u201cOSC\u201d) investigations of the Restatements and legal costs\ndefending shareholder class action complaints brought against us as a result\nof the 2019 restatement (see Part II, Item 1 \u201cLegal Proceedings\u201d of this\nQuarterly Report for a discussion of the shareholder class action complaints\nrelating to the restatement of the 2019 interim financial statements and the\nsettlement of the SEC\u2019s and the OSC\u2019s investigations of the Restatements).\nResults are reported as total consolidated results, reflecting our reporting\nstructure of one reportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n| **Three months ended June 30, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (5,663 | ) | | $ | (2,834 | ) | | $ | (8,497 | ) \nInterest income, net | | (12,471 | ) | | | (3 | ) | | | (12,474 | ) \nIncome tax benefit | | (180 | ) | | | \u2014 | | | | (180 | ) \nDepreciation and amortization | | 2,265 | | | | 115 | | | | 2,380 | \nEBITDA | | (16,049 | ) | | | (2,722 | ) | | | (18,771 | ) \nShare of income from equity method investments | | (270 | ) | | | \u2014 | | | | (270 | ) \nImpairment loss on long-lived assets ( i ) | | \u2014 | | | | 205 | | | | 205 | \nGain on revaluation of derivative liabilities (ii) | | (43 | ) | | | \u2014 | | | | (43 | ) \nGain on revaluation of financial instruments (iii) | | (5,193 | ) | | | \u2014 | | | | (5,193 | ) \nForeign currency transaction loss | | 3,174 | | | | \u2014 | | | | 3,174 | \nOther, net (v) | | 26 | | | | 163 | | | | 189 | \nRestructuring costs (vi) | | \u2014 | | | | 534 | | | | 534 | \nShare-based compensation (vii) | | 2,331 | | | | 5 | | | | 2,336 | \nFinancial statement review costs (viii) | | 119 | | | | \u2014 | | | | 119 | \nInventory write-down (ix) | | \u2014 | | | | 839 | | | | 839 | \nAdjusted EBITDA | $ | (15,905 | ) | | $ | (976 | ) | | $ | (16,881 | ) \n \n \n\n| **Three months ended June 30, 2022** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (17,527 | ) | | $ | (2,811 | ) | | $ | (20,338 | ) \nInterest income, net | | (3,775 | ) | | | \u2014 | | | | (3,775 | ) \nIncome tax benefit | | (308 | ) | | | \u2014 | | | | (308 | ) \nDepreciation and amortization | | 3,944 | | | | 283 | | | | 4,227 | \nEBITDA | | (17,666 | ) | | | (2,528 | ) | | | (20,194 | ) \nShare of income from equity method investments | | (5,197 | ) | | | \u2014 | | | | (5,197 | ) \nGain on revaluation of derivative liabilities (ii) | | (3,410 | ) | | | \u2014 | | | | (3,410 | ) \nLoss on revaluation of financial instruments (iii) | | 2,112 | | | | \u2014 | | | | 2,112 | \nForeign currency transaction loss | | 2,852 | | | | \u2014 | | | | 2,852 | \nOther, net (v) | | (49 | ) | | | 47 | | | | (2 | ) \nRestructuring costs (vi) | | 978 | | | | 292 | | | | 1,270 | \nShare-based compensation(vii) | | 2,583 | | | | 33 | | | | 2,616 | \nFinancial statement review costs(viii) | | 1,154 | | | | \u2014 | | | | 1,154 | \nAdjusted EBITDA | $ | (16,643 | ) | | $ | (2,156 | ) | | $ | (18,799 | ) \n \n \n\n| **Six months ended June 30, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (23,698 | ) | | $ | (4,056 | ) | | $ | (27,754 | ) \nInterest income, net | | (23,646 | ) | | | (8 | ) | | | (23,654 | ) \nIncome tax benefit | | (1,616 | ) | | | \u2014 | | | | (1,616 | ) \nDepreciation and amortization | | 4,541 | | | | 244 | | | | 4,785 | \nEBITDA | | (44,419 | ) | | | (3,820 | ) | | | (48,239 | ) \nShare of loss from equity method investments | | 226 | | | | \u2014 | | | | 226 | \nImpairment loss on long-lived assets ( i ) | | \u2014 | | | | 205 | | | | 205 | \nLoss on revaluation of derivative liabilities (ii) | | 22 | | | | \u2014 | | | | 22 | \nLoss on revaluation of financial instruments (iii) | | 2,565 | | | | \u2014 | | | | 2,565 | \nForeign currency transaction loss | | 4,817 | | | | \u2014 | | | | 4,817 | \nOther, net (v) | | (59 | ) | | | 163 | | | | 104 | \nRestructuring costs (vi) | | \u2014 | | | | 534 | | | | 534 | \nShare-based compensation (vii) | | 4,866 | | | | 21 | | | | 4,887 | \nFinancial statement review costs (viii) | | 395 | | | | \u2014 | | | | 395 | \nInventory write-down (ix) | | \u2014 | | | | 839 | | | | 839 | \nAdjusted EBITDA | $ | (31,587 | ) | | $ | (2,058 | ) | | $ | (33,645 | ) \n \n \n\n| **Six months ended June 30, 2022** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,892 | ) | | $ | (7,099 | ) | | $ | (52,991 | ) \nInterest income, net | | (5,820 | ) | | | (1 | ) | | | (5,821 | ) \nIncome tax benefit | | 54 | | | | \u2014 | | | | 54 | \nDepreciation and amortization | | 7,051 | | | | 715 | | | | 7,766 | \nEBITDA | | (44,607 | ) | | | (6,385 | ) | | | (50,992 | ) \nShare of income from equity method investments | | (5,197 | ) | | | \u2014 | | | | (5,197 | ) \nImpairment loss on long-lived assets ( i ) | | 3,493 | | | | \u2014 | | | | 3,493 | \nGain on revaluation of derivative liabilities (ii) | | (13,829 | ) | | | \u2014 | | | | (13,829 | ) \nGain on revaluation of financial instruments (iii) | | (2,156 | ) | | | \u2014 | | | | (2,156 | ) \nImpairment loss on other investments (iv) | | 11,238 | | | | \u2014 | | | | 11,238 | \nForeign currency transaction loss | | 4,724 | | | | \u2014 | | | | 4,724 | \nOther, net (v) | | (184 | ) | | | 47 | | | | (137 | ) \nRestructuring costs (vi) | | 3,009 | | | | 1,345 | | | | 4,354 | \nShare-based compensation (vii) | | 6,199 | | | | 103 | | | | 6,302 | \nFinancial statement review costs (viii) | | 5,216 | | | | \u2014 | | | | 5,216 | \nAdjusted EBITDA | $ | (32,094 | ) | | $ | (4,890 | ) | | $ | (36,984 | ) \n \n \n\n(i) | For the three and six months ended June 30, 2023, impairment loss on long-lived assets related to certain leased properties associated with the Company\u2019s U.S. operations. For the six months ended June 30, 2022, impairment loss on long-lived assets related to the Company\u2019s decision to seek a sublease for leased office space in Toronto, Ontario, Canada during the first quarter of 2022. \n---|--- \n(ii) | For the three and six months ended June 30, 2023 and 2022, (gain) loss on revaluation of derivative liabilities represents the fair value changes on the derivative liabilities. \n(iii) | For the three and six months ended June 30, 2023 and 2022, (gain) loss on revaluation of financial instruments related primarily to the Company\u2019s equity securities in Vitura. \n(iv) | For the six months ended June 30, 2022, impairment loss on other investments related to the PharmaCann Option for the difference between its fair value and carrying amount. \n(v) | For the three and six months ended June 30, 2023 and 2022, other, net related to (gain) loss on disposal of assets. \n(vi) | For the three and six months ended June 30, 2023, restructuring costs related to employee-related severance costs and other restructuring costs associated with our U.S. operations. For the three and six months ended June 30, 2022, restructuring costs related to the employee-related severance costs and other restructuring costs associated with the Realignment, including the change in nature of operations at the Peace Naturals Campus. \n(vii) | For the three and six months ended June 30, 2023 and 2022, share-based compensation related to the non-cash expenses of share-based compensation awarded to employees under the Company\u2019s share-based award plans. \n(viii) | For the three and six months ended June 30, 2023 and 2022, financial statement review costs include costs and reserves taken related to the Restatements, costs related to the Company\u2019s responses to requests for information from various regulatory authorities relating to the Restatements and legal costs incurred defending shareholder class action complaints brought against the Company as a result of the 2019 restatement. \n(ix) | For the three and six months ended June 30, 2023, inventory write-downs relate to product destruction and obsolescence associated with the exit of our U.S. operations. \n \n \n\n**_Constant Currency_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for the three and six months\nended June 30, 2023, as well as cash and cash equivalents and short-term\ninvestment balances as of June 30, 2023 compared to December 31, 2022, which\nare considered non-GAAP financial measures. We present constant currency\ninformation to provide a framework for assessing how our underlying operations\nperformed excluding the effect of foreign currency rate fluctuations. To\npresent this information, current and comparative prior period income\nstatement results in currencies other than U.S. dollars are converted into\nU.S. dollars using the average exchange rates from the three and six month\ncomparative periods in 2022 rather than the actual average exchange rates in\neffect during the respective current periods; constant currency current and\nprior comparative balance sheet information is translated at the prior year-\nend spot rate rather than the current period spot rate. All growth comparisons\nrelate to the corresponding period in 2022. We have provided this non-GAAP\nfinancial information to aid investors in better understanding the performance\nof our operations. The non-GAAP financial measures presented in this Quarterly\nReport should not be considered as a substitute for, or superior to, the\nmeasures of financial performance prepared in accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on a constant currency basis for the three and six\nmonths ended June 30, 2023 compared to the three and six months ended June 30,\n2022 as well as cash and cash equivalents and short-term investments as of\nJune 30, 2023 and December 31, 2022, both on an as-reported and constant\ncurrency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nNet revenue | $ | 19,021 | | | | $ | 21,602 | | | | $ | (2,581 | ) | | (12 | ) | % | | $ | 20,219 | | | | $ | (1,383 | ) | | (6 | ) | % \nGross profit | | 3,099 | | | | | 4,322 | | | | | (1,223 | ) | | (28 | ) | % | | | 3,322 | | | | | (1,000 | ) | | (23 | ) | % \nGross margin | | 16 | | % | | | 20 | | % | | | N/A | | | (4 | ) | pp | | | 16 | | % | | | N/A | | | (4 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nOperating expenses | | 23,719 | | | | | 29,624 | | | | $ | (5,905 | ) | | (20 | ) | % | | | 25,216 | | | | | (4,408 | ) | | (15 | ) | % \nNet income (loss) | | (5,663 | ) | | | | (17,527 | ) | | | | 11,864 | | | 68 | | % | | | (6,716 | ) | | | | 10,811 | | | 62 | | % \nAdjusted EBITDA | | (15,905 | ) | | | | (16,643 | ) | | | | 738 | | | 4 | | % | | | (16,968 | ) | | | | (325 | ) | | (2 | ) | % \n| | | | | | | | | | | | | \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nNet revenue | $ | 38,516 | | | | $ | 44,307 | | | | $ | (5,791 | ) | | (13 | ) | % | | | 41,223 | | | | $ | (3,084 | ) | | (7 | ) | % \nGross profit | | 6,026 | | | | | 11,032 | | | | | (5,006 | ) | | (45 | ) | % | | | 6,520 | | | | | (4,512 | ) | | (41 | ) | % \nGross margin | | 16 | | % | | | 25 | | % | | | N/A | | | (9 | ) | pp | | | 16 | | % | | | N/A | | | (9 | ) | pp \n| | | | | | | | | | | | | | | | | | | | | | | | | | | | | | \nOperating expenses | | 47,415 | | | | | 68,094 | | | | $ | (20,679 | ) | | (30 | ) | % | | | 50,571 | | | | | (17,523 | ) | | (26 | ) | % \nNet loss | | (23,698 | ) | | | | (45,892 | ) | | | | 22,194 | | | 48 | | % | | | (25,738 | ) | | | | 20,154 | | | 44 | | % \nAdjusted EBITDA | | (31,587 | ) | | | | (32,094 | ) | | | | 507 | | | 2 | | % | | | (33,883 | ) | | | | (1,789 | ) | | (6 | ) | % \n| | | | | | | | | | | | | \n| **As of June 30,** | | **As of December 31,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | | | **2022** | | | | **$** | | **%** | | | **2023** | | | | **$** | | **%** \nCash and cash equivalents | $ | 409,428 | | | | $ | 764,644 | | | | $ | (355,216 | ) | | (46 | ) | % | | $ | 407,775 | | | | $ | (356,869 | ) | | (47 | ) | % \nShort-term investments | | 431,510 | | | | | 113,077 | | | | | 318,433 | | | 282 | | % | | | 421,577 | | | | | 308,500 | | | 273 | | % \nTotal cash and cash equivalents and short-term investments | $ | 840,938 | | | | $ | 877,721 | | | | $ | (36,783 | ) | | (4 | ) | % | | $ | 829,352 | | | | $ | (48,369 | ) | | (6 | ) | % \n \n_ \n_\n\n_Net revenue_\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCannabis flower | $ | 14,014 | | $ | 15,739 | | $ | (1,725 | ) | | (11)% | | $ | 14,955 | | $ | (784 | ) | | (5)% \nCannabis extracts | | 4,926 | | | 5,582 | | | (656 | ) | | (12)% | | | 5,178 | | | (404 | ) | | (7)% \nOther | | 81 | | | 281 | | | (200 | ) | | (71)% | | | 86 | | | (195 | ) | | (69)% \nNet revenue | $ | 19,021 | | $ | 21,602 | | $ | (2,581 | ) | | (12)% | | $ | 20,219 | | $ | (1,383 | ) | | (6)% \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCannabis flower | $ | 27,142 | | $ | 34,364 | | $ | (7,222 | ) | | (21 | ) | % | | $ | 29,158 | | $ | (5,206 | ) | | (15 | ) | % \nCannabis extracts | | 11,227 | | | 9,570 | | | 1,657 | | | 17 | | % | | | 11,909 | | | 2,339 | | | 24 | | % \nOther | | 147 | | | 373 | | | (226 | ) | | (61 | ) | % | | | 156 | | | (217 | ) | | (58 | ) | % \nNet revenue | $ | 38,516 | | $ | 44,307 | | $ | (5,791 | ) | | (13 | ) | % | | $ | 41,223 | | $ | (3,084 | ) | | (7 | ) | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended June 30,** | | **As Reported Change** | | **Three months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCanada | $ | 13,595 | | $ | 14,389 | | $ | (794 | ) | | (6)% | | $ | 14,293 | | $ | (96 | ) | | (1)% \nIsrael | | 5,426 | | | 7,213 | | | (1,787 | ) | | (25)% | | | 5,926 | | | (1,287 | ) | | (18)% \nNet revenue | $ | 19,021 | | $ | 21,602 | | $ | (2,581 | ) | | (12)% | | $ | 20,219 | | $ | (1,383 | ) | | (6)% \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Six months ended June 30,** | | **As Reported Change** | | **Six months ended \nJune 30, ** | | **Constant Currency Change** \n| | **2023** | | | **2022** | | **$** | | **%** | | | **2023** | | **$** | | **%** \nCanada | $ | 28,029 | | $ | 27,965 | | $ | 64 | | | \u2014 | | % | | $ | 29,701 | | $ | 1,736 | | | 6 | | % \nIsrael | | 10,487 | | | 16,342 | | | (5,855 | ) | | (36 | ) | % | | | 11,522 | | | (4,820 | ) | | (29 | ) | % \nNet revenue | $ | 38,516 | | $ | 44,307 | | $ | (5,791 | ) | | (13 | ) | % | | $ | 41,223 | | $ | (3,084 | ) | | (7 | ) | % \n \n \n\nFor the three months ended June 30, 2023, net revenue on a constant currency\nbasis was $20.2 million, representing a 6% decrease from the three months\nended June 30, 2022. For the six months ended June 30, 2023, net revenue on a\nconstant currency basis was $41.2 million, representing a 7% decrease from the\nsix months ended June 30, 2022. On a constant currency basis, net revenue\ndecreased for the three and six months ended June 30, 2023 primarily due to\nlower cannabis flower sales in Israel due to competitive activity, the\nslowdown in patient permit authorizations and political unrest, and an adverse\nprice/mix in Canada in the cannabis flower category driving increased excise\ntax payments as a percentage of revenue.\n\n_Gross profit_\n\nFor the three months ended June 30, 2023, gross profit on a constant currency\nbasis was $3.3 million, representing a 23% decrease from the three months\nended June 30, 2022. For the six months ended June 30, 2023, gross profit on a\nconstant currency basis was $6.5 million, representing a 41% decrease from the\nsix months ended June 30, 2022. On a constant currency basis, gross profit\ndecreased for the three and six months ended June 30, 2023 primarily due to\nlower cannabis flower sales in the Israeli medical market and adverse\nprice/mix on cannabis flower sales in Canada resulting in higher excise taxes\nas a percentage of revenue.\n\n_Operating expenses_\n\nFor the three months ended June 30, 2023, operating expenses on a constant\ncurrency basis were $25.2 million, representing a 15% decrease from the three\nmonths ended June 30, 2022. For the six months ended June 30, 2023, operating\nexpenses on a constant currency basis were $50.6 million, representing a 26%\ndecrease from the six months ended June 30, 2022. On a constant currency\nbasis, operating expenses decreased for the three and six months ended June\n30, 2023 primarily due to lower professional fees, largely related to\nfinancial statement review costs, lower bonus expense, lower insurance costs,\nlower costs associated with the achievement of Ginkgo milestones and\nimpairment loss on long-lived assets recognized in the prior year.\n\n_Net loss_\n\nFor the three months ended June 30, 2023, net loss on a constant currency\nbasis was $6.7 million, representing a 62% reduction in net loss from the\nthree months ended June 30, 2022. For the six months ended June 30, 2023, net\nloss on a constant currency basis was $25.7 million, representing a 44%\nreduction in net loss from the six months ended June 30, 2022.\n\n_Adjusted EBITDA_\n\nFor the three months ended June 30, 2023, Adjusted EBITDA on a constant\ncurrency basis was $(17.0) million, representing a 2% decrease from the three\nmonths ended June 30, 2022. For the six months ended June 30, 2023, Adjusted\nEBITDA on a constant currency basis was $(33.9) million, representing a 6%\ndecrease from the six months ended June 30, 2022. The decrease in Adjusted\nEBITDA for the three and six months ended June 30, 2023 on a constant currency\nbasis was primarily driven by lower cannabis flower sales in the Israeli\nmedical market and adverse price/mix on cannabis flower sales in Canada\nresulting in higher excise taxes as a percentage of revenue, partially offset\nby decreases in general and administrative expenses primarily due to lower\nbonus expense, insurance costs and professional fees as well as lower costs\nassociated with the achievement of Ginkgo milestones.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis decreased 6% to $829.4 million as of June 30, 2023 from $877.7 million\nas of December 31, 2022. The decrease in cash and cash equivalents and short-\nterm investments is primarily due to cash flows used in operating activities\nin the six months ended June 30, 2023.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this Quarterly Report are stated in U.S. dollars,\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to U.S. dollars. The assets and liabilities of our\nforeign operations are translated into dollars at the exchange rate in effect\nas of June 30, 2023, June 30, 2022, and December 31, 2022. Transactions\naffecting the shareholders\u2019 equity (deficit) are translated at historical\nforeign exchange rates. The condensed consolidated statements of net loss and\ncomprehensive income (loss) and condensed consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the reporting period as reported\non Bloomberg. The exchange rates used to translate from USD to Canadian\ndollars (\u201cC$\u201d) and Israeli New Shekels (\"ILS\") are shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As of** \n---|--- \n| **June 30, 2023** | | **June 30, 2022** | | **December 31, 2022** \nSpot rate | 1.3242 | | 1.2874 | | 1.3554 \nYear-to-date average rate | 1.3474 | | 1.2715 | | N/A \n \n \n\n_(Exchange rates are shown as ILS per $)_ | **As of** \n---|--- \n| **June 30, 2023** | | **June 30, 2022** | | **December 31, 2022** \nSpot rate | 3.7051 | | 3.4936 | | 3.5178 \nYear-to-date average rate | 3.5892 | | 3.267 | | N/A \n \n** \n**\n\n**For further information, please contact:** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n \n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
"reason": "This is a news release from GlobeNewswire announcing Cronos Group's second-quarter results for 2023. It is a direct communication from the company and therefore a reliable source for this information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' climate risk energy usage",
"summary": "News release from GlobeNewswire announcing Cronos Group's second-quarter results for 2023.",
"url": "https://www.globenewswire.com/news-release/2023/08/08/2720505/0/en/Cronos-Group-Reports-2023-Second-Quarter-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "0726fbe4-4ff6-4d39-aef3-eff0424ed0d3",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\nTORONTO and BOSTON , June 21, 2022 /PRNewswire/ -- _[ Cronos Group\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3225416693&u=https%3A%2F%2Fthecronosgroup.com%2F&a=Cronos+Group)\n_ Inc. (NASDAQ: CRON ) (TSX: CRON) (\"Cronos\"), an innovative global\ncannabinoid company, and _[ Ginkgo Bioworks\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2768808416&u=https%3A%2F%2Fwww.ginkgobioworks.com%2F&a=Ginkgo+Bioworks)\n_ (NYSE: DNA ) (\"Ginkgo\"), the leading horizontal platform for cell\nprogramming, today announced the achievement of the third target productivity\nmilestone in their partnership to produce eight cultured cannabinoids. Using\nGinkgo's platform for organism design and development, Cronos has successfully\nachieved the productivity target for tetrahydrocannabivarin (THCV), a\ncannabinoid hypothesized to reduce the appetite-enhancing property of THC.\nAccess to additional rare cannabinoids will support Cronos' innovation\npipeline and commercialization strategy.\n\nLaunched in 2018 with the goal of accessing rare molecules in the cannabis\nplant to create innovative and differentiated products that would otherwise be\ncost-prohibitive, the partnership between Cronos and Ginkgo aims to produce\ncultured cannabinoids at industrial scale. _[ The program\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3611081941&u=https%3A%2F%2Fwww.ginkgobioworks.com%2Four-\nwork%2Fproducing-cultured-cannabinoids%2F&a=The+program) _ combines Cronos'\ndeep understanding of the biological structure and function of cannabinoids\nwith Ginkgo's vast experience designing microorganisms for the production of\ncultured products across pharmaceuticals, agriculture and more.\n\nIn August 2021 , Ginkgo and Cronos _[ announced\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3645716409&u=https%3A%2F%2Finvestors.ginkgobioworks.com%2Fnews%2Fnews-\ndetails%2F2021%2FCronos-Group-and-Ginkgo-Bioworks-Announce-Achievement-of-\nEquity-Milestone-in-Partnership-to-Produce-Cultured-\nCannabinoids%2Fdefault.aspx&a=announced) _ the achievement of its first equity\nmilestone for cannabigerolic acid (CBGA). In October 2021 , Cronos _[\nlaunched\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=615659090&u=https%3A%2F%2Fir.thecronosgroup.com%2Fnews-\nreleases%2Fnews-release-details%2Fcronos-group-launches-its-first-cultured-\ncannabinoid-product&a=launched) _ its first cultured CBG product, SPINACH\nFEELZ\u2122 _[ Chill Bliss 2:1 THC|CBG gummy\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3626722007&u=https%3A%2F%2Fspinachcannabis.com%2Fforms%2Fedibles%2Fchill-\nbliss-gummy%2F&a=Chill+Bliss+2%3A1+THC%7CCBG+gummy) _ , which quickly gained\nconsumer awareness, and according to Hifyre data has achieved 2.4% market\nshare in the gummies category in Canada as of the week-ended June 11, 2022\n. Cronos went on to launch its SPINACH FEELZ\u2122 _[ Chill Bliss 7:1 THC|CBG vape\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2118616123&u=https%3A%2F%2Fspinachcannabis.com%2Fforms%2Fchill-\nbliss-vape%2F&a=Chill+Bliss+7%3A1+THC%7CCBG+vape) _ in January 2022 .\n\n\"Continuing to hit these productivity milestones in partnership with Ginkgo\nfuels our innovation pipeline focused on creating borderless products\nutilizing rare cannabinoids that amplify and differentiate the consumer\nexperience,\" said Mike Gorenstein , Chairman, President and CEO of Cronos.\n\"We are excited about the possibilities that THCV is expected to give us and\nlook forward to getting more products with rare cannabinoids into market.\"\n\n\"Working with Cronos to develop innovations in cannabis is an opportunity for\nus to apply synthetic biology in a way that is helping bring the cannabis\nindustry forward and make a real impact on its market and the customers it\nserves,\" said Jason Kelly, CEO and cofounder of Ginkgo Bioworks. \"The progress\nwe've made thus far in our collaboration is a true testament to both the\npotential of synthetic biology and the world-class teams at Cronos and\nGinkgo.\"\n\nAs a result of the achievement of the final productivity target for THCV,\nCronos has issued to Ginkgo approximately 2.2 million common shares.\n\n**About Cronos \n** Cronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae , Lord\nJones \u00ae , Happy Dance \u00ae and PEACE+\u2122. For more information about Cronos and\nits brands, please visit: _[ thecronosgroup.com\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3335548803&u=https%3A%2F%2Fthecronosgroup.com%2F&a=thecronosgroup.com)\n_ .\n\n**CRONOS MEDIA CONTACT:** \n_[ [email protected] ](/cdn-cgi/l/email-\nprotection#b6dbd3d2dfd798c4d3dad7c2dfd9d8c5f6c2ded3d5c4d9d8d9c5d1c4d9c3c698d5d9db)\n_\n\n**CRONOS INVESTOR CONTACT:** \n_[ [email protected] ](/cdn-cgi/l/email-\nprotection#731a1d051600071c015d01161f12071a1c1d0033071b1610011c1d1c0014011c06035d101c1e)\n_\n\n**About Ginkgo Bioworks \n** Ginkgo is building a platform to enable customers to program cells as\neasily as we can program computers. The company's platform is enabling\nbiotechnology applications across diverse markets, from food and agriculture\nto industrial chemicals to pharmaceuticals. Ginkgo has also actively supported\na number of COVID-19 response efforts, including K-12 pooled testing, vaccine\nmanufacturing optimization and therapeutics discovery. For more information,\nvisit _[ www.ginkgobioworks.com\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2356245785&u=http%3A%2F%2Fwww.ginkgobioworks.com%2F&a=www.ginkgobioworks.com)\n_ .\n\n**GINKGO BIOWORKS INVESTOR CONTACT: \n** [ [email protected] ](/cdn-cgi/l/email-\nprotection#96fff8e0f3e5e2f9e4e5d6f1fff8fdf1f9f4fff9e1f9e4fde5b8f5f9fb)\n\n**GINKGO BIOWORKS MEDIA CONTACT: \n** [ [email protected] ](/cdn-cgi/l/email-\nprotection#cebebcabbdbd8ea9a7a0a5a9a1aca7a1b9a1bca5bde0ada1a3)\n\n**Forward-looking Statements of Cronos Group Inc. \n** This press release may contain information that may constitute \"forward-\nlooking information\" or \"forward-looking statements\" within the meaning of\napplicable Canadian and U.S. securities laws (collectively, \"Forward-looking\nStatements\"). All information contained herein that is not clearly historical\nin nature may constitute Forward-looking Statements. In some cases, Forward-\nlooking Statements can be identified by the use of forward-looking terminology\nsuch as \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify Forward-looking Statements. Forward-Looking\nStatements include estimates, plans, expectations, opinions, forecasts,\nprojections, targets, guidance or other statements that are not statements of\nhistorical fact. Forward-Looking Statements include, but are not limited to,\nstatements with respect to: Cronos' expectations regarding the potential\nsuccess of, and the costs and benefits associated with, its partnership with\nGinkgo; expectations about the development of the cannabis industry and\npotential demand for cultured cannabinoids; Cronos' commercialization and\nplanned THCV product launch; the partnership's aim to develop eight cultured\ncannabinoids; Cronos' and Ginkgo's positioning to elevate the cannabis\nindustry through cannabinoid and product innovation to unlock the next\ngeneration of its potential; the use of Cronos' and Ginkgo's combined\ncapabilities to make the benefits of cannabinoids more accessible to\nconsumers; and Cronos' intention to build an international iconic brand\nportfolio and develop disruptive intellectual property. Forward-looking\nStatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management, are inherently subject to\nsignificant business, economic and competitive risks, financial results,\nresults, performance or achievements expressed or implied by those Forward-\nlooking Statements and the Forward-looking Statements are not guarantees of\nfuture performance. A discussion of some of the material risks applicable to\nthe Company can be found in the Cronos' Annual Report on Form 10-K for the\nyear ended December 31, 2021 and Quarterly Report on Form 10-Q for the\nperiod ended March 31, 2022 , both have which been filed on SEDAR and EDGAR\nand can be accessed at [ www.sedar.com ](http://www.sedar.com) and [\nwww.sec.gov/edgar ](http://www.sec.gov/edgar) , respectively. Any Forward-\nlooking Statement included in this press release is made as of the date of\nthis press release and, except as required by law, Cronos disclaims any\nobligation to update or revise any Forward-looking Statement. Readers are\ncautioned not to put undue reliance on any Forward-looking Statement.\n\n**Forward-Looking Statements of Ginkgo Bioworks \n** This press release contains certain forward-looking statements within the\nmeaning of the federal securities laws, including statements regarding the\npotential success of the partnership and Ginkgo's cell programming platform.\nThese forward-looking statements generally are identified by the words\n\"believe,\" \"can,\" \"project,\" \"potential,\" \"expect,\" \"anticipate,\" \"estimate,\"\n\"intend,\" \"strategy,\" \"future,\" \"opportunity,\" \"plan,\" \"may,\" \"should,\"\n\"will,\" \"would,\" \"will be,\" \"will continue,\" \"will likely result,\" and similar\nexpressions. Forward-looking statements are predictions, projections and other\nstatements about future events that are based on current expectations and\nassumptions and, as a result, are subject to risks and uncertainties. Many\nfactors could cause actual future events to differ materially from the\nforward-looking statements in this press release, including but not limited\nto: (i) the effect of Ginkgo's business combination with Soaring Eagle\nAcquisition Corp. (\"Soaring Eagle\") on Ginkgo's business relationships,\nperformance, and business generally, (ii) risks that the business combination\ndisrupts current plans of Ginkgo and potential difficulties in Ginkgo's\nemployee retention, (iii) the outcome of any legal proceedings that may be\ninstituted against Ginkgo related to its business combination with Soaring\nEagle, (iv) volatility in the price of Ginkgo's securities now that it is a\npublic company due to a variety of factors, including changes in the\ncompetitive and highly regulated industries in which Ginkgo operates and plans\nto operate, variations in performance across competitors, changes in laws and\nregulations affecting Ginkgo's business and changes in the combined capital\nstructure, (v) the ability to implement business plans, forecasts, and other\nexpectations after the completion of the business combination, and identify\nand realize additional opportunities, (vi) the risk of downturns in demand for\nproducts using synthetic biology, (vii) the unpredictability of the duration\nof the COVID-19 pandemic and the demand for COVID-19 testing and the\ncommercial viability of our COVID-19 testing business, and (viii) changes to\nthe biosecurity industry, including due to advancements in technology,\nemerging competition and evolution in industry demands, standards and\nregulations. The foregoing list of factors is not exhaustive. You should\ncarefully consider the foregoing factors and the other risks and uncertainties\ndescribed in the \"Risk Factors\" section of Ginkgo's quarterly report on Form\n10-Q filed with the U.S. Securities and Exchange Commission (the \"SEC\") on\nMay 16, 2022 and other documents filed by Ginkgo from time to time with the\nSEC. These filings identify and address other important risks and\nuncertainties that could cause actual events and results to differ materially\nfrom those contained in the forward-looking statements. Forward-looking\nstatements speak only as of the date they are made. Readers are cautioned not\nto put undue reliance on forward-looking statements, and Ginkgo assumes no\nobligation and does not intend to update or revise these forward-looking\nstatements, whether as a result of new information, future events, or\notherwise. Ginkgo does not give any assurance that it will achieve its\nexpectations.\n\nSOURCE Ginkgo Bioworks\n\n## WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?\n\n440k+ \nNewsrooms & \nInfluencers\n\n9k+ \nDigital Media \nOutlets\n\n270k+ \nJournalists \nOpted In\n\n[ GET STARTED ](https://www.prnewswire.com/account/online-membership-\nform/?site_refer=press-release-widget)\n\n### Modal title\n\n## Also from this source\n\n[ ](ginko-automation-partners-with-aura-genetics-to-accelerate-direct-to-\nconsumer-testing-and-innovation-302433812.html)\n\n### [ Ginkgo Automation Partners with Aura Genetics to Accelerate Direct-to-\nConsumer Testing and Innovation Ginkgo Bioworks (NYSE: DNA), which is\nbuilding the leading platform for cell programming and biosecurity, today\nannounced that Ginkgo Automation will ... ](ginko-automation-partners-with-\naura-genetics-to-accelerate-direct-to-consumer-testing-and-\ninnovation-302433812.html)\n\n[ ](ginkgo-bioworks-teams-up-with-partners-on-arpa-h-project-to-stabilize-\npharmaceutical-supply-chains--using-amber-waves-of-grain-302424938.html)\n\n### [ Ginkgo Bioworks Teams Up with Partners on ARPA-H Project to Stabilize\nPharmaceutical Supply Chains - Using Amber Waves of Grain Ginkgo Bioworks\n(NYSE: DNA), which is building the leading platform for cell programming and\nbiosecurity, today announced a new contract with the... ](ginkgo-bioworks-\nteams-up-with-partners-on-arpa-h-project-to-stabilize-pharmaceutical-supply-\nchains--using-amber-waves-of-grain-302424938.html)\n\n[ More Releases From This Source ](/news/ginkgo-bioworks/)\n\n## Explore\n\n[ [ Cannabis ](/news-releases/consumer-products-retail-latest-news/cannabis-\nlist/) ](/news-releases/consumer-products-retail-latest-news/cannabis-list/)\n\n[ [ Retail ](/news-releases/consumer-products-retail-latest-news/retail-list/)\n](/news-releases/consumer-products-retail-latest-news/retail-list/)\n\n[ [ New Products & Services ](/news-releases/general-business-latest-news/new-\nproducts-services-list/) ](/news-releases/general-business-latest-news/new-\nproducts-services-list/)\n\n[ News Releases in Similar Topics ](/news-releases/)\n\n## Contact PR Newswire\n\n * [ Call PR Newswire at 888-776-0942 ](tel:Call%20PR%20Newswire%20at%20888-776-0942) from 8 AM - 9 PM ET \n\n * [ Chat with an Expert ](javascript://Chat)\n\n * [ General Inquiries ](/contact-us/general-inquiries/ \"General Inquiries\")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \"Editorial Bureaus\")\n * [ Partnerships ](/contact-us/partnerships/ \"Partnerships\")\n * [ Media Inquiries ](/contact-us/media-inquiries/ \"Media Inquiries\")\n * [ Worldwide Offices ](/contact-us/worldwide-offices/ \"Worldwide Offices\")\n\n[ ](https://twitter.com/PRNewswire \"Twitter\") [ ](https://www.facebook.com/PR-\nNewswire-26247320522/ \"Facebook\") [ ](https://www.linkedin.com/company/pr-\nnewswire/ \"LinkedIn\")\n\n## Products\n\n * [ For Marketers ](/products/marketing/ \"For Marketers\")\n * [ For Public Relations ](/products/public-relations/ \"For Public Relations\")\n * [ For IR & Compliance ](/products/ir-compliance/ \"For IR & Compliance\")\n * [ For Agency ](/products/agency/ \"For Agency\")\n * [ All Products ](/products/all-products/ \"All Products\")\n\n## About\n\n * [ About PR Newswire ](/about-pr-newswire/ \"About PR Newswire\")\n * [ About Cision ](https://www.cision.com/us/?utm_medium=website&utm_source=prnewswire&utm_content=cishomepage&utm_campaign=prnewswire \"About Cision\")\n * [ Become a Publishing Partner ](/contact-us/prnewswire-partners/ \"Become a Publishing Partner\")\n * [ Become a Channel Partner ](/contact-us/become-a-partner/ \"Become a Channel Partner\")\n * [ Careers ](https://www.cision.com/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/ \"Canada\")\n * [ Czech ](/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](/fr/communiques-de-presse/ \"France\")\n * [ Germany ](/de/pressemitteilungen/ \"Germany\")\n * [ India ](/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](/il/news-releases/ \"Israel\")\n * [ Italy ](/it/comunicati-stampa/ \"Italy\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](/nl/persberichten/ \"Netherlands\")\n * [ Norway ](/no/pressemeldinger/ \"Norway\")\n * [ Poland ](/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](/ru/press-releases/ \"Russia\")\n * [ Slovakia ](/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](/sv/pressmeddelanden/ \"Sweden\")\n * [ United Kingdom ](https://www.prnewswire.co.uk/ \"United Kingdom\")\n * [ Vietnam ](/vn/home/ \"Vietnam\")\n\n## My Services\n\n * [ All New Releases ](/news-releases/ \"All New Releases\")\n * [ Online Member Center ](https://portal.prnewswire.com/Login.aspx \"Online Member Center\")\n * [ ProfNet ](https://profnet.prnewswire.com/ProfNetHome/What-is-Profnet.aspx \"ProfNet\")\n * [ Data Privacy ](https://gdpr.cision.com/ \"Data Privacy\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact PR Newswire ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](https://prnewswire.mediaroom.com/index.php)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Center ](https://portal.prnewswire.com/Login.aspx \"Online Member Center\")\n * [ ProfNet ](https://profnet.prnewswire.com/ProfNetHome/What-is-Profnet.aspx \"ProfNet\")\n\n[ __ Call PR Newswire at \n888-776-0942 ](tel:Call%20PR%20Newswire%20at \"Contact Us\")\n\n * [ Terms of Use ](/terms-of-use/ \"Terms of Use\")\n * [ Privacy Policy ](https://www.cision.com/legal/privacy-policy/ \"Privacy Policy\")\n * [ Information Security Policy ](/prn-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ RSS ](/rss/ \"RSS\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n\nCopyright \u00a9 2025 [ Cision\n](https://www.cision.com/us/?utm_medium=website&utm_source=prnewswire&utm_content=cishomepage&utm_campaign=prnewswire\n\"Cision\") US Inc.\n\n[ ](javascript://Chat)\n\n",
"url": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
"reason": "This is a press release from a reputable source (PR Newswire) announcing an achievement by Cronos Group. It provides factual information about the company's activities and partnerships.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Press release about Cronos Group and Ginkgo Bioworks achieving a milestone.",
"url": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
{
"content": {
"metadata": {
"ext_id": "5e288080-15b2-4968-9488-6a7d389ad5bc",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nFebruary 27, 2025 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of the Peace Naturals Campus; \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n* * *\n\n## Tags\n\n[ Cannabis ](/en/search/tag/cannabis \"Cannabis\") [ CRON ](/en/search/tag/cron\n\"CRON\") [ Cronos ](/en/search/tag/cronos \"Cronos\") [ Cronos Group\n](/en/search/tag/cronos%2520group \"Cronos Group\")\n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results. Press releases are generally reliable for factual financial reporting.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Cronos Group reports its fourth quarter and full year results in a press release.",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "e2b09a08-1a12-4f78-bea3-fcce96f4f8ba",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://investingnews.com/innspired/smart-irrigation-systems-for-environmentally-conscious-cannabis-cultivation/"
},
"page_content": "[ ](/ \"link to homepage\")\n\n * Australia \n\nNorth America\n\nWorld\n\n[ Login ](/my-inn)\n\n# [ Investing News **Network** Your trusted source for investing success\n](/)\n\n[ Videos ](/videos/)\n\n[ Companies ](/company-profiles/)\n\n[ Press Releases ](/press-releases/)\n\n[ Private Placements ](/private-placement-directory/)\n\n[ SUBSCRIBE ](/newsletters/)\n\n * [ Reports & Guides ](/market-outlook-reports/ \"Reports & Guides\")\n\n * [ Market Outlook Reports ](/market-outlook-reports/ \"Market Outlook Reports\")\n * [ Investing Guides ](/investing-guides/ \"Investing Guides\")\n\n * [ ](javascript:;)\n\n[ Resource ](/category/daily/resource-investing/)\n\n * [ Precious Metals ](/category/daily/resource-investing/precious-metals-investing/ \"Precious Metals\")\n * [ Battery Metals ](/category/daily/resource-investing/battery-metals-investing/ \"Battery Metals\")\n * [ Base Metals ](/category/daily/resource-investing/base-metals-investing/ \"Base Metals\")\n * [ Energy ](/category/daily/resource-investing/energy-investing/ \"Energy\")\n * [ Critical Metals ](/category/daily/resource-investing/critical-metals-investing/ \"Critical Metals\")\n\n[ Tech ](/category/daily/tech-investing/)\n\n[ Life Science ](/category/daily/life-science-investing/)\n\n[ Featured Market ](/category/daily/featured)\n\n[ Featured News ](/press-releases/?newssections=featured)\n\n[ Featured Stocks ](/category/daily/featured/company-profiles/)\n\n * [ Featured Market ](/category/daily/featured)\n * [ Featured News ](/press-releases/?newssections=featured)\n * [ Featured Stocks ](/category/daily/featured/company-profiles/)\n\n# Smart Irrigation Systems for Environmentally Conscious Cannabis Cultivation\n\n[ Melissa Pistilli ](https://investingnews.com/author/melissa-pestilli/)\n\nDec. 09, 2019 02:00PM PST\n\n[ Featured ](https://investingnews.com/featured/)\n\nSmart irrigation systems are helping cannabis cultivators increase yields and\nimprove plant health through precise irrigation and fertilization techniques.\n\n**Smart irrigation systems are enabling cannabis cultivators to increase\nyields through precision irrigation and fertilization.**\n\nHowever, cannabis is a water-intensive crop that can pose a dilemma for\nenvironmentally conscious growers in water-stressed regions. Finding\ncontaminant-free sources of water can also prove challenging. As cannabis\ncultivation becomes a global industry, agritech experts are beginning to\ndevelop new smart irrigation systems designed with [ artificial intelligence\n](https://investingnews.com/category/daily/tech-investing/emerging-tech-\ninvesting/artificial-intelligence-investing/) (AI) and machine learning to\ndeliver high-quality cannabis crops with each harvest.\n\n## Irrigation systems for cannabis cultivation\n\nThe cultivation of any agricultural crop requires ample amounts of water,\nfertilizer and light. In the case of cannabis cultivation, a much higher\namount of water and fertilization is required to produce a quality crop. In\nfact, smart growing systems are a necessity throughout each stage of the [\nfull cannabis life cycle ](https://www.visualcapitalist.com/cultivating-\ncannabis-the-journey-from-seed-to-harvest/) to ensure uniformity and\nconsistent quality from one crop to the next while ensuring wider profit\nmargins for cannabis cultivators.\n\n\u201cHigher yields and lower costs offer the best route to increased profit\nmargins. Because cannabis is a high-value crop, growers need to optimize their\nwater input with precise irrigation systems if they want to produce quality\ncrops at high, uniform, yields and reduced costs,\u201d Ohad Haber, CEO of Water\nWays Technologies ( [ TSXV ](https://investingnews.com/sp-tsx-venture-\ncomposite-index/) : [ WWT ](https://investingnews.com/stock-\ninformation/?symbol=wwt:ca) ), told the Investing News Network. The\nagriculture technology company provides smart irrigation solutions to legal\ncannabis cultivators.\n\n## Irrigation systems and water conservation\n\nWater usage is one of the primary environmental issues related to the\ncommercial production of cannabis. [ According\n](https://www.mccarthy.ca/en/insights/blogs/canadian-era-\nperspectives/spotlight-cannabis-part-2-taking-closer-look-environmental-costs-\ncannabis-cultivation) to Selina Lee-Andersen, partner at McCarthy T\u00e9trault and\nmember of the law firm\u2019s Environmental, Regulatory and Aboriginal Group,\n\u201cThere are increasing calls for policymakers to consider the environmental\nimpacts of cannabis cultivation on a commercial scale. Industry estimates\nindicate that a cannabis plant needs approximately 22 liters of water a day;\nin comparison, a wine-producing grape plant uses approximately 12 liters a\nday.\u201d\n\nFor legal cannabis cultivation to truly be a green business, licensed\nproducers must take water conservation into consideration. \u201cIn California, [\nstudies\n](https://journals.plos.org/plosone/article?id=10.1371/journal.pone.0120016)\nhave suggested that irrigation systems for outdoor grow operations are having\nsignificant impacts on local watersheds as a result of the diversion of water\nfor cannabis production,\u201d said Lee-Andersen. In jurisdictions like California,\nwhere cannabis producers must obtain water permits, regulators are likely to\nassess the impacts of cannabis cultivation on local watersheds.\n\nControlling the distribution of water to cannabis crops can help alleviate the\nburden grow operations place on those local water resources. Controlled water\napplication is not only more environmentally friendly, but it maximizes\nefficiencies in the distribution of essential inputs for cannabis cultivation.\nSmart water distribution systems have the potential to significantly lower\ncosts and increase profit margins for licensed producers.\n\n## Cannabis needs clean water\n\nCannabis plants grow best when water is distributed evenly and over a\ncontrolled duration of time to avoid under-watering and oversaturation. While\nthe amount of water each cannabis plant receives is important, so is the\nquality of that water. Cannabis plants require a constant supply of pure\nwater. Even with all the proper facilities, financing and grower expertise,\nthe potential for a successful cannabis grow with repeatable results can be\nnullified without a consistent, reliable source of clean water.\n\n\u201cCannabis by nature takes one year to complete an entire life cycle. However,\nduring commercial cultivation, this cycle is shortened to 3 months to increase\nproductivity. To meet the demands of this rapid maturation and high yield\nproduction, commercial cannabis cultivation requires the use of high-quality\nwater,\u201d said Haber.\n\nWater delivers nutrients to plants, but it can also deliver [ harmful\ncontaminants ](https://www.leafly.ca/news/growing/sourcing-clean-water-for-\ncannabis-grows) . Even tap water that is safe for human consumption might not\nbe so safe for cannabis plants. Contaminants found in source water can include\nhard minerals such as iron, manganese, lead, copper or zinc, which can all\nlead to serious nutrient deficiencies. Untreated water can also introduce\nother dangerous elements into the grow environment including herbicides,\npesticides, fungus and bacteria.\n\nFor cannabis grow operations, water filtration helps to mitigate the risks\nthese contaminants pose to plant quality and yield size. Today\u2019s smart\nirrigation systems can help growers achieve both the right moisture balance\nand the ideal water purity throughout the life cycle of the grow while\nconserving water.\n\n## Smart irrigation and cannabis cultivation\n\nAI and machine learning are leading to game-changing technologies across many\nindustries today. In the field of agriculture, advancements have come in the\nform of smart irrigation systems that can collect real-time data from remote\nsensors within crops. With these high tech management tools, growers can\ncollect and analyze that data to make informed adjustments to the system\nremotely from a mobile device.\n\n\u201cSmart irrigation systems can reduce water waste and maintain consistency in\ncrop quality,\u201d said Haber. \u201cThe remote sensors can monitor and automatically\ncollect a variety of metrics, including moisture levels. This allows growers\nto make quick adjustments to ensure all the plants are optimally watered.\u201d\n\nSmart irrigation technologies can also include water treatment systems with\nhigh tech filtration. For example, one of South America\u2019s leading providers of\nflowers to the floral industry was struggling to eliminate parasitic worms\nfrom the locally sourced river water used on their crops. While chlorine can\nbe used to kill the worms, the disinfectant can also damage the plants. Water\nWays Technologies was able to provide the flower producer with a chemical-free\nwater treatment system based on self-cleaning filters and physical separation\ntechnologies to eliminate the worms.\n\nThe market for smart agriculture technologies is [ expected\n](https://www.globenewswire.com/news-release/2018/09/21/1574215/0/en/Global-\nPrecision-Agriculture-Market-2018-2025-Focus-on-Solution-Hardware-System-\nSoftware-and-Service-and-Application-Irrigation-Field-Monitoring-Spraying-\nFertilization-Planting-and.html) to reach US$10.55 billion by 2025, and\nirrigation represents the largest submarket. As an agricultural crop that\nrequires large amounts of clean water to produce high quality and high yields,\ncannabis stands to benefit from new innovations in smart irrigation tech.\nLeading global agricultural tech companies such as Israeli-based Netafim and\nNaanDanJain Irrigation are offering smart irrigation products for large scale\nmedical cannabis grow operations.\n\nFor small- to medium-sized grow operations, Water Ways Technologies has\ndeveloped one of the world\u2019s first customizable smart irrigation and\nfertilization system for cannabis cultivation through its US$500,000\npartnership with Kibbutz Gan Shmuel and Cronos Group ( [ NASDAQ\n](https://investingnews.com/nasdaq-composite-index/) : [ CRON\n](https://investingnews.com/stock-information/?symbol=CRON:us) ,TSX:CRON).\nKnown as [ CANNAWays ](https://investingnews.com/daily/cannabis-\ninvesting/water-ways-announces-the-launch-of-its-new-cannabis-iot-precise-\nirrigation-and-fertilization-system-the-cannaways/) , the commercially\navailable system uses smart management tools, high-tech filtration and water\nrecycling to produce consistent quality cannabis with higher yields while\nreducing water consumption. Water Ways Technologies recently received its [\nsecond commercial order ](https://investingnews.com/water-ways-announces-\nsecond-commercial-order-for-its-new-cannabis-iot-precise-irrigation-and-\nfertilization-system-the-cannaways-2) for the CANNAWays system. The system\nwill be implemented in a 290,000 square foot medical cannabis cultivation\nfacility near Haifa in Israel.\n\n## Takeaway\n\nAlthough it requires the same important inputs of water, fertilizer and light,\nit\u2019s safe to say that cannabis is unlike most agricultural crops. For licensed\ncannabis producers to remain competitive, they need to be able to offer a\nhigh-quality product at a low cost of production. By reducing waste and\noptimally delivering nutrients, smart irrigation technologies are helping\ncannabis companies to maintain this competitive edge.\n\n_**This INNSpired article was written according to INN editorial standards to\neducate investors.** _\n\n_**INN does not provide investment advice and the information in this article\nshould not be considered a recommendation to buy or sell any security. INN\ndoes not endorse or recommend the business, products, services or securities\nof any company profiled.** _\n\n[ kibbutz gan shmuel ](https://investingnews.com/tag/kibbutz-gan-shmuel) [\nchina ](https://investingnews.com/tag/china) [ netafim\n](https://investingnews.com/tag/netafim) [ nasdaq:cron\n](https://investingnews.com/tag/nasdaq-cron) [ naandanjain irrigation\n](https://investingnews.com/tag/naandanjain-irrigation)\n\n[ __\n](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Finvestingnews.com%2Finnspired%2Fsmart-\nirrigation-systems-for-environmentally-conscious-cannabis-\ncultivation%2F%3Fxrs%3DRebelMouse_fb%26ts%3D1646770120) [ __\n](https://twitter.com/intent/tweet?url=https://investingnews.com/innspired/smart-\nirrigation-systems-for-environmentally-conscious-cannabis-\ncultivation/&text=Smart%20Irrigation%20Systems%20for%20Environmentally%20Conscious%20Cannabis%20Cultivation&)\n[ __\n](https://www.linkedin.com/shareArticle?mini=false&url=https://investingnews.com/innspired/smart-\nirrigation-systems-for-environmentally-conscious-cannabis-cultivation/&) [ __\n](mailto:?subject=Smart%20Irrigation%20Systems%20for%20Environmentally%20Conscious%20Cannabis%20Cultivation&body=https://investingnews.com/innspired/smart-\nirrigation-systems-for-environmentally-conscious-cannabis-cultivation/) [ __\n](https://investingnews.com/innspired/smart-irrigation-systems-for-\nenvironmentally-conscious-cannabis-cultivation/ \"Copy this link to clipboard\")\n\nThe Conversation (0)\n\n#### Latest News\n\nInvesting News Network websites or approved third-party tools use cookies.\nPlease refer to the [ cookie policy ](https://www.iubenda.com/privacy-\npolicy/8095067/cookie-policy?an=no&s_ck=false&newmarkup=yes) for collected\ndata, privacy and GDPR compliance. By continuing to browse the site, you agree\nto our use of cookies.\n\n\u00d7\n\n\u00d7\n\n",
"url": "https://investingnews.com/innspired/smart-irrigation-systems-for-environmentally-conscious-cannabis-cultivation/"
},
"reason": "Investing News Network provides industry-related news. The article discusses smart irrigation systems in cannabis cultivation, which is relevant to the environmental impact of cannabis companies like Cronos Group. While it's not directly about Cronos, it's relevant to the search query.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Article about smart irrigation systems for environmentally conscious cannabis cultivation.",
"url": "https://investingnews.com/innspired/smart-irrigation-systems-for-environmentally-conscious-cannabis-cultivation/"
},
{
"content": {
"metadata": {
"ext_id": "68c1aeda-3937-4569-b74c-7765f9f790a1",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501300.d6380ef\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"reason": "This is a filing from the U.S. Securities and Exchange Commission (SEC) related to Cronos Group. SEC filings are highly reliable sources of information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "SEC filing related to Cronos Group.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
{
"content": {
"metadata": {
"ext_id": "0b811515-8a33-4a67-968f-be238b806a76",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://pmc.ncbi.nlm.nih.gov/articles/PMC11597989/"
},
"page_content": "Skip to main content\n\n**Official websites use .gov** \nA **.gov** website belongs to an official government organization in the\nUnited States.\n\n**Secure .gov websites use HTTPS** \nA **lock** ( ) or **https://** means you've safely connected to the .gov\nwebsite. Share sensitive information only on official, secure websites.\n\n[ ](/ \"Home\")\n\n * [ Advanced Search ](https://www.ncbi.nlm.nih.gov/pmc/advanced/)\n * [ Journal List ](/journals/)\n * [ User Guide ](/about/userguide/)\n\n * * [ ](https://doi.org/10.3390/toxics12110786 \"View on publisher site\")\n * [ ](pdf/toxics-12-00786.pdf \"Download PDF\")\n * * * ## PERMALINK \n\nAs a library, NLM provides access to scientific literature. Inclusion in an\nNLM database does not imply endorsement of, or agreement with, the contents by\nNLM or the National Institutes of Health. \nLearn more: [ PMC Disclaimer ](/about/disclaimer/) | [ PMC Copyright Notice ](/about/copyright/)\n\n. 2024 Oct 29;12(11):786. doi: [ 10.3390/toxics12110786\n](https://doi.org/10.3390/toxics12110786)\n\n# Assessing the Environmental Impact of Municipal Waste on Energy\nIncineration Technology for Power Generation Using Life Cycle Assessment\nMethodology\n\n[ Yiting Luo\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Luo%20Y%22%5BAuthor%5D)\n\n### Yiting Luo\n\n1 Hunan First Normal University, Changsha 410114, China\n\n2 National Engineering Laboratory of Southern Forestry Ecological Application\nTechnology, Changsha 410004, China\n\n3 Hunan Provincial Key Laboratory of Key Technology on Hydropower\nDevelopment, PowerChina Zhongnan Engineering Corporation Limited, Changsha\n410004, China\n\nConceptualization, Methodology, Formal analysis, Data curation, Writing \u2013\noriginal draft, Funding acquisition\n\nFind articles by [ Yiting Luo\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Luo%20Y%22%5BAuthor%5D)\n\n1, 2, 3 , [ Mingqiang Ye\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Ye%20M%22%5BAuthor%5D)\n\n### Mingqiang Ye\n\n4 Aerospace Kaitian Environmental Technology Co., Ltd., Changsha 410100,\nChina\n\nConceptualization, Writing \u2013 review & editing\n\nFind articles by [ Mingqiang Ye\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Ye%20M%22%5BAuthor%5D)\n\n4 , [ Yihui Zhou\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Zhou%20Y%22%5BAuthor%5D)\n\n### Yihui Zhou\n\n4 Aerospace Kaitian Environmental Technology Co., Ltd., Changsha 410100,\nChina\n\nMethodology, Writing \u2013 review & editing\n\nFind articles by [ Yihui Zhou\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Zhou%20Y%22%5BAuthor%5D)\n\n4 , [ Rongkui Su\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Su%20R%22%5BAuthor%5D)\n\n### Rongkui Su\n\n5 College of Life and Environmental Science, Hunan Engineering Research\nCenter of Full Life-Cycle Energy-Efficient Buildings and Environmental Health,\nCentral South University of Forestry and Technology, Changsha 410004, China\n\nConceptualization, Methodology, Formal analysis, Data curation, Writing \u2013\nreview & editing, Project administration, Funding acquisition\n\nFind articles by [ Rongkui Su\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Su%20R%22%5BAuthor%5D)\n\n5, * , [ Shunhong Huang\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Huang%20S%22%5BAuthor%5D)\n\n### Shunhong Huang\n\n5 College of Life and Environmental Science, Hunan Engineering Research\nCenter of Full Life-Cycle Energy-Efficient Buildings and Environmental Health,\nCentral South University of Forestry and Technology, Changsha 410004, China\n\nFormal analysis\n\nFind articles by [ Shunhong Huang\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Huang%20S%22%5BAuthor%5D)\n\n5 , [ Hangqing Wang\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Wang%20H%22%5BAuthor%5D)\n\n### Hangqing Wang\n\n5 College of Life and Environmental Science, Hunan Engineering Research\nCenter of Full Life-Cycle Energy-Efficient Buildings and Environmental Health,\nCentral South University of Forestry and Technology, Changsha 410004, China\n\nWriting \u2013 review & editing\n\nFind articles by [ Hangqing Wang\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Wang%20H%22%5BAuthor%5D)\n\n5 , [ Xiangrong Dai\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Dai%20X%22%5BAuthor%5D)\n\n### Xiangrong Dai\n\n3 Hunan Provincial Key Laboratory of Key Technology on Hydropower\nDevelopment, PowerChina Zhongnan Engineering Corporation Limited, Changsha\n410004, China\n\nData curation, Writing \u2013 review & editing\n\nFind articles by [ Xiangrong Dai\n](https://pubmed.ncbi.nlm.nih.gov/?term=%22Dai%20X%22%5BAuthor%5D)\n\n3\n\nEditors: Emilio Benfenati , Nikiforos Alygizakis\n\n * * * \n\n1 Hunan First Normal University, Changsha 410114, China\n\n2 National Engineering Laboratory of Southern Forestry Ecological Application\nTechnology, Changsha 410004, China\n\n3 Hunan Provincial Key Laboratory of Key Technology on Hydropower\nDevelopment, PowerChina Zhongnan Engineering Corporation Limited, Changsha\n410004, China\n\n4 Aerospace Kaitian Environmental Technology Co., Ltd., Changsha 410100,\nChina\n\n5 College of Life and Environmental Science, Hunan Engineering Research\nCenter of Full Life-Cycle Energy-Efficient Buildings and Environmental Health,\nCentral South University of Forestry and Technology, Changsha 410004, China\n\n* \n\nCorrespondence: surongkui@csuft.edu.cn\n\n#### Roles\n\n** Yiting Luo ** : Conceptualization, Methodology, Formal analysis, Data\ncuration, Writing \u2013 original draft, Funding acquisition\n\n** Mingqiang Ye ** : Conceptualization, Writing \u2013 review & editing\n\n** Yihui Zhou ** : Methodology, Writing \u2013 review & editing\n\n** Rongkui Su ** : Conceptualization, Methodology, Formal analysis, Data\ncuration, Writing \u2013 review & editing, Project administration, Funding\nacquisition\n\n** Shunhong Huang ** : Formal analysis\n\n** Hangqing Wang ** : Writing \u2013 review & editing\n\n** Xiangrong Dai ** : Data curation, Writing \u2013 review & editing\n\n** Emilio Benfenati ** : Academic Editor\n\n** Nikiforos Alygizakis ** : Academic Editor\n\nReceived 2024 Sep 8; Revised 2024 Oct 24; Accepted 2024 Oct 28; Collection\ndate 2024 Nov.\n\n\u00a9 2024 by the authors.\n\nLicensee MDPI, Basel, Switzerland. This article is an open access article\ndistributed under the terms and conditions of the Creative Commons Attribution\n(CC BY) license ( [ https://creativecommons.org/licenses/by/4.0/\n](https://creativecommons.org/licenses/by/4.0/) ).\n\n[ PMC Copyright notice ](/about/copyright/)\n\nPMCID: PMC11597989 PMID: [ 39590965\n](https://pubmed.ncbi.nlm.nih.gov/39590965/)\n\n## Abstract\n\nThe life cycle assessment methodology is a comprehensive environmental impact\nevaluation approach rooted in the \u201ccradle-to-grave\u201d concept. This study takes\na municipal solid waste incineration power plant in central China as an\nexample to comprehensively explore the potential ecological and environmental\nimpacts of municipal solid waste incineration power generation through life\ncycle assessment methods. Burning one ton of waste can recover 7342 joules of\nthermal energy. Compared with traditional landfill, incineration can reduce\ngreenhouse gas emissions by about 30%, with a potential global warming impact\nof \u22120.69 kg of carbon dioxide equivalent. Amongst environmental impacts, land,\nfreshwater, and marine ecosystems possess the greatest potential toxicity,\nfollowed by the harmful effects on human health and the influence of ozone-\nproducing photochemical pollution. Lastly, there comes terrestrial\nacidification, whereas other types of effects can be relatively disregarded in\ncomparison. In the process of waste incineration power generation, the\npotential impacts of global warming, ionizing radiation, and fossil resource\nscarcity are less than zero, indicating that this is an environmentally\nfriendly process. In response to the above-mentioned environmental impacts, it\nis necessary to pay attention to improving incineration efficiency, optimizing\nleachate treatment, reducing coal use, and controlling acidic gas emissions in\nthe process of urban solid waste incineration power generation. This research\noffers insights into advancing environmentally sustainable technologies for\nutilizing waste as an energy resource.\n\n**Keywords:** life cycle method, garbage, incineration power generation,\nenergization, environmental impact\n\n## 1\\. Introduction\n\nWaste, including trash and rubbish, represents one of the fastest-growing\ncategories of environmental disposables [ 1 ]. It encompasses the solid\nmaterials generated through human daily activities, characterized by diversity\nand complexity [ 2 , 3 ]. Research indicates that, in 2017, China\u2019s\nnationwide production of food waste reached 99.72 million metric tons, with an\nannual growth rate exceeding 10% [ 4 ]. Over the period from 2005 to 2025,\nfood and kitchen waste across 70 Asian countries and regions is projected to\nincrease from 278 million tons to approximately 416 million tons.\nConcurrently, per capita daily waste generation rates in urban areas of the\nEuropean Union and Asia are expected to rise between 0.9 to 1.6 kg and 0.7 to\n1.5 kg, respectively [ 5 ]. \u201cUrban Waste\u201d refers to the waste generated in\nurban areas around the world, which includes various types of waste produced\nby households, commercial establishments, and industrial activities within\ncities [ 6 ]. The waste can consist of organic materials, plastics, metals,\npaper, textiles, and hazardous substances. Global urban waste is anticipated\nto escalate from 1.3 billion tons per year to 2.2 billion tons in 2025, and\nprojected to further reach 4.2 billion tons annually by 2050 [ 7 ]. Urban\nwaste significantly impacts both human well-being and the environment. In\nIndia, urban waste production grows annually by 1.3%, with a substantial 94%\nof waste being inadequately managed. Similarly, 93.5% of municipal waste is\ndisposed of in landfills or open-air dumps in Malaysia, with no recycling\nefforts [ 8 ]. \u201cUrban solid waste\u201d refers to the solid waste generated in\nurban areas, including various materials produced by households, commercial\ninstitutions, and industrial activities [ 6 ]. In 2015, the United States\nEnvironmental Protection Agency designated urban solid waste as a potential\nrenewable energy source. Effective waste management remains a critical global\nchallenge for achieving sustainable development goals [ 9 , 10 , 11 ].\n\nAs society develops, more and more attention is paid to environmental\nprotection in the world [ 12 , 13 , 14 , 15 , 16 ]. As the\naccumulation of urban solid waste continues to rise, the efficient management\nof such waste in a sustainable and environmentally friendly manner has become\nthe most pressing social and environmental challenge faced by urban residents\ntoday [ 17 , 18 , 19 ]. Currently, waste management techniques primarily\nencompass the methods of landfilling, incineration, and comprehensive\nutilization [ 20 , 21 ]. Due to regional disparities in economic and\nconsumption levels, composition of waste materials, and geographical\nenvironments, the prevailing conditions for employing these three waste\nmanagement techniques (landfilling, incineration, and comprehensive\nutilization) vary, thereby necessitating divergent disposal methods [ 22 ].\nOverall, the trend indicates that urban solid waste treatment technology has\nevolved from primitive and arbitrary landfilling to primarily utilizing\nincineration for power generation [ 6 ]. This shift can be attributed\nprimarily to the substantial reduction in available land, along with the\nheightened awareness of environmental conservation and advances in management\nexpertise among humankind. Consequently, it has gradually facilitated the\nadoption of waste incineration for energy generation as the predominant mode\nof waste disposal, emphasizing reduction, harmlessness, and resource recovery\n[ 23 ]. Incineration for power generation is only one manifestation of the\ntechnological conversion of waste into energy. Waste-to-energy (WTE)\ntechnology, in essence, encompasses the process whereby energy is harnessed in\nthe form of heat, electricity, or even fuel for transportation from sources\ncomprising discarded materials [ 24 , 25 , 26 , 27 ]. In the\napplication of WTE technology, municipal solid waste (MSW) is the most\nprevalent form of energy conversion treatment [ 28 ]. The successful\napplication domains of WTE technology encompass industrial green heating fuel\ngranules, the paper and pulp industry\u2019s transformation of waste into cold and\nthermal electric energy sources, along with urban solid waste treatment plants\nserving as district energy supply hubs, amongst others [ 29 ]. Furthermore,\nby managing the relatively small proportion of biowaste within the mixed\nmunicipal solid waste, not only is the moisture content of the waste reduced\nbut its calorific value is also enhanced [ 30 , 31 , 32 , 33 ].\nCurrently, there are more than 800 waste conversion facilities operating\nacross approximately 40 countries and regions, and they have processed\napproximately 11% of global municipal solid waste and generated a total power\noutput of 42.9 billion kilowatt-hours. It is estimated that global urban solid\nwaste recycling will generate an energy value of USD 410 billion [ 34 ]. The\nmarket potential of waste incineration for electricity generation in Chinese\nurban areas is expected to reach USD 5 billion [ 35 ]. Nowadays, waste\nincineration power generation technology presents a sophisticated solution for\nenergy utilization [ 36 , 37 ], showcasing tremendous prospects for\nadvancement [ 38 , 39 ].\n\nWith the rapid development of technology and the gradual improvement in\npeople\u2019s living standards, the inorganic components in waste are gradually\ndecreasing while the organic components are increasing [ 40 , 41 ]. Among\nthem, organic waste has a higher calorific value and is beneficial for waste\nincineration power generation [ 42 , 43 ]. The main sources of waste\nincineration power generation are municipal solid waste and other screened\nwaste with high organic components. The good practice is to separate and\nrecycle the waste, which not only reduces the amount of waste but also screens\nout waste with high organic components. The Solid Waste Pollution Prevention\nand Control Law of the People\u2019s Republic of China (2020) stipulates that\nmunicipal solid waste should be promptly cleared and transported and gradually\nclassified and collected, and that rational utilization and harmless disposal\nis actively carried out. Plastics, metals, and glass, as recyclables, are\nfound less and less in municipal solid waste, which was used as a source of\nraw materials for garbage incineration. The incineration treatment of various\ntypes of waste in life, followed by their utilization for electricity\ngeneration, adheres to the three principles of reduction, resource\nutilization, and harmlessness [ 44 , 45 ]. High temperature incineration\ncan significantly reduce the amount of waste disposed of in landfills while\nutilizing the generated thermal energy to generate electricity and reusing the\nby-products for road construction [ 46 ]. The incineration processing\nfacility, being reasonable and sustainable, serves as a viable alternative to\nlandfill for waste disposal, without compromising the rates of reuse and\nrecycling [ 9 ]. In the year 1988, China\u2019s inaugural waste incineration\nplant commenced operation in Shenzhen. Though our nation embarked on waste\nincineration relatively late, China\u2019s waste incineration-to-electricity\ntechnology has made remarkable strides. According to a report by the Asian\nDevelopment Bank (ADB) in 2007, China has emerged as the second-largest\nproducer of municipal solid waste worldwide. Annually, an excess of 220\nmillion metric tons of such waste is generated, with an annual growth rate\nranging between 8% and 10%. In the year 2018, the quantity of waste\nincineration power plants in China witnessed an increase of 11.9% compared\nwith the previous year (reaching a total count of 401), enabling them to\nprocess over 40% of the national waste transportation volume. Furthermore, in\nthe year 2019, an additional 50% increase occurred in nationwide waste\nincineration-to-electricity initiatives [ 47 ]. Compared with the\nphotovoltaic and other industries, China\u2019s currently operational waste\nincineration power generation projects exhibit relatively low capital\ninvestment, CO 2 emission-friendly characteristics, low costs, and desirable\nenvironmental benefits [ 48 , 49 ].\n\nHousehold waste comprises a complex mixture that generates numerous pollutants\nduring the incineration process, including exhaust emissions, wastewater,\nnoise, and solid residues. These pollutants significantly impact the\nenvironment throughout the waste-to-energy incineration process [ 50 ].\nHowever, the current research predominantly focuses on technological\nadvancements and efficacy studies related to waste-to-energy incineration,\nwith comparatively less attention given to evaluating its environmental\nimpacts [ 45 , 51 , 52 ]. The life cycle assessment (LCA) method is a\nmultidimensional environmental impact evaluation approach that follows the\nconcept of \u201cfrom cradle to grave\u201d. It has substantial capabilities for\ntracking the evolution of energy products and ensures the credibility and\nscientific rigor of assessing environmental impacts associated with waste-to-\nenergy conversion [ 53 , 54 , 55 ]. This study employs the life cycle\nmethod to present a specific case study on the energy utilization of waste\nincineration for power generation. It includes defining objectives and scope,\nanalyzing life cycle inventory, assessing environmental impacts throughout the\nlife cycle, and interpreting life cycle results. Through comprehensive\nanalysis and evaluation, potential environmental risks related to waste\nincineration power generation are identified, and targeted improvement\nmeasures and suggestions are proposed to promote the sustainable development\nof environmental hazardous waste energy utilization technology.\n\n## 2\\. Materials and Methods\n\n### 2.1. The Principles of the Life Cycle Methods\n\nAs human civilization advances, the escalating degradation of the global\necological environment has become increasingly evident. Conventional methods\nof managing and addressing environmental issues are no longer adequate for the\ndiverse array of challenges we face today. Therefore, adopting an\nenvironmental management approach grounded in life cycle thinking is more\nconducive to achieving a harmonious and sustainable balance between the\neconomy and the environment [ 56 ]. Life cycle assessment (LCA), as an\nenvironmental management tool for product systems, has gradually gained\nacceptance and application across various domains, being recognized as the\nmost promising environmental management tool of the 21st century [ 57 , 58\n]. The International Organization for Standardization (ISO) defines life cycle\nassessment as the quantitative and qualitative analysis and evaluation of\nresource consumption and waste emissions attributable to a product throughout\nits life cycle in its ISO 14040 standard [ 59 ].\n\nTherefore, LCA should follow several fundamental principles. First, LCA\nemphasizes comprehensiveness, requiring that all stages from raw material\nextraction, production, transportation, and usage to final disposal be\nconsidered in the assessment to ensure a holistic understanding of\nenvironmental impacts. Second, LCA focuses on quantitative analysis,\ncollecting and analyzing relevant data to quantify resource consumption and\nemissions at each stage, thereby identifying environmental hotspots.\nAdditionally, LCA emphasizes transparency and reproducibility, requiring that\nthe research process and results be subject to external review and\nverification. It focuses on midpoint (problem oriented) and endpoint (damage\noriented) impact categories. The life cycle approach evaluates the \u201cinputs\u201d\nand \u201coutputs\u201d of each process [ 60 ]. According to ISO14040 (Environmental\nManagement-Life cycle assessment-Principles and framework, International\nOrganization for Standardization, 2006), we will have certain trade-offs in\nthe process of discussion and traceability, as long as the corresponding\ntrade-off rules are met, otherwise the traceability will be endless. The\nregulations also point out that there are two types of LCA that do not need to\ntrace the process. One is natural resources. we only need to know the\nconsumption of natural resources, and do not need to trace their production\nprocess. One is environmental emissions (including greenhouse gases,\natmospheric/water/soil pollutants, solid waste, etc.). we only need to\ndischarge, and do not need to know the natural process after discharge. This\nsystematic methodology makes LCA an important tool for supporting sustainable\ndevelopment decisions, providing scientific evidence for businesses and\npolicymakers to optimize product design and improve environmental management\nstrategies.\n\n### 2.2. The Fundamental Analytical Framework of the Life Cycle Approach\n\nThis study adheres to the boundary demarcation and data processing standards\noutlined in ISO 14040 and GB/T 24040 (Environmental management. Life cycle\nassessment. Principles and frameworks, China National Standards Committee,\n2008). We utilize the ReCiPe 2016 Midpoint (I) V1.04/World (2010) I for\ncalculations, which is widely employed in life cycle assessment (LCA) to\nanalyze and quantify the environmental impacts of a product across its entire\nlife cycle, from raw material acquisition through production, use, and\ndisposal [ 61 ]. According to ISO14040 and GB/24040, the entire process of\nlife cycle assessment can be divided into four main components, namely the\ndefinition of objectives and scope, analysis of the life cycle inventory,\nevaluation of the life cycle impacts, and interpretation of the life cycle\nresults [ 59 , 62 , 63 ]. The relationship between these components is\ndepicted in our previous reports [ 64 ].\n\n## 3\\. Results and Discussion\n\n### 3.1. Basic Framework of the LCA for Waste Incineration Power Generation\n\n * (1) \n\nDefinition of objectives and scope\n\nThe four steps of implementing a life cycle assessment are used to evaluate\nthe LCA process of waste incineration in the living environment, and to study\nthe environmental impact of waste heat and flue gas cleaning processes during\nincineration. Previous studies on the life cycle assessment of urban solid\nwaste incineration have mainly focused on technological innovations in waste\nincineration processes, with few reports on the specific impacts during the\nincineration stages. This study aims to assess the environmental impact\ngenerated from waste-to-energy processes, and proposes benchmarks for\npreventing and reducing pollution from waste incineration. Therefore, various\ncomparative methods are determined to define the scope of this research\nsystem, including pretreatment, post-incineration treatment, and emissions.\nThis case selects a waste incineration power plant in central China, with a\ndesigned processing capacity of 1000 tons/day, equipped with 2 sets of 500 t/d\nmechanical grate incinerators and a 18 MW condensing steam turbine generator\nunits. The annual operating hours are 8000 h, the annual waste processing\ncapacity is 365,000 tons, and the annual power generation is 136.3 million\nkWh. Simultaneously supporting the construction of environmental protection\nprojects such as flue gas purification systems, wastewater treatment systems,\nand ash treatment systems, garbage incineration power plants implement the\n\u201cControl Standard for Pollutants from Municipal Solid Waste Incineration\u201d (GB\n18485-2014, China National Standards Committee). According to the requirements\nof the \u201cControl Standard for Pollutants from Municipal Solid Waste\nIncineration\u201d (GB 18485-2014, China National Standards Committee), the\nincineration temperature in the furnace is greater than or equal to 850\ndegrees Celsius, the residence time of flue gas in the furnace is greater than\nor equal to 2 s, and the thermal burn off rate of incinerator slag is less\nthan or equal to 5%. In this study, the functional unit for generating\nelectricity from waste incineration is 1 ton of waste.\n\nThe model calculates the emissions and resource consumption of air, water, and\nsoil, and consolidates the results into various potential impacts. Based on\nthe ReCiPe model and its database, the composition of solid waste can be\ncharacterized by using 48 different material compositions, and each component\nis defined by 40 physical and chemical properties, including parameters such\nas the low heating value (LHV) of the fuel, moisture content, ash content, and\nelemental composition. Additionally, a comprehensive life cycle inventory\n(LCI) database is provided to facilitate energy generation and material\nproduction from a wide array of fuels. The energy produced by the incineration\nsystem and the recovered materials replace conventional fuel combustion and\nmaterial manufacturing derived from raw resources. Consequently, emissions\nassociated with air, water, soil, and resource consumption are mitigated\nthrough the incineration process. The schematic diagrams of the waste\nincineration process and boundary delineation are illustrated in Figure 1\nand Figure 2 , respectively. Considering the intricate nature of the\nincineration system, it has been segregated into three distinct segments for\nanalytical purposes. The sampling analysis shall be conducted on the L1, L2,\nand L3 locations within these three systems, enabling a comprehensive\nevaluation of the environmental factors associated with each subsystem.\n\n#### Figure 1.\n\n[\n](https://www.ncbi.nlm.nih.gov/core/lw/2.0/html/tileshop_pmc/tileshop_pmc_inline.html?title=Click%20on%20image%20to%20zoom&p=PMC3&id=11597989_toxics-12-00786-g001.jpg)\n\n[ Open in a new tab ](figure/toxics-12-00786-f001/)\n\nDiagram of environmental waste incineration power generation process. Output\npoints for testing purposes (L1, L2, L3).\n\n#### Figure 2.\n\n[\n](https://www.ncbi.nlm.nih.gov/core/lw/2.0/html/tileshop_pmc/tileshop_pmc_inline.html?title=Click%20on%20image%20to%20zoom&p=PMC3&id=11597989_toxics-12-00786-g002.jpg)\n\n[ Open in a new tab ](figure/toxics-12-00786-f002/)\n\nIllustration of boundary demarcation, the pre-processing stage ( **I** ), the\nincineration stage ( **II** ), and the exhaust emission stage ( **III** ).\n\n * (2) \n\nInventory Analysis\n\nThe analysis of the data inventory, consistent with the aforementioned study,\nprimarily focuses on organizing and analyzing the energy processes within\ndefined research system boundaries. It also aims to assess the environmental\npotentials associated with activities such as the extraction of raw materials,\nprocessing, product manufacturing, packaging and transportation, consumption,\nand waste management. To quantitatively and rationally analyze the consumption\nof resources, energy, and environmental emissions, it is imperative to develop\na comprehensive inventory known as the input\u2013output table. The data presented\nin this section are derived from extensive research of the literature. Refer\nto Table 1 for details.\n\n#### Table 1.\n\nBurning system input and output.\n\nBurning System | Import | Export \n---|---|--- \nParameter | Magnitude | Parameter | Magnitude \n**I** | Waste collection/kg\u00b7(people\u00b7a) \u22121 | 670 | The amount of recyclable produced [ 65 ]/kg\u00b7t \u22121 | 121 \nCar fuel usage [ 66 ]/L\u00b7km \u22121 | 0.31 | Automobile exhaust gas production volume [ 67 ]/kg\u00b7L \u22121 | 3.675 \n**II** | Electric power consumption [ 68 , 69 ]/kwh\u00b7(people\u00b7a) \u22121 | 134 | Flue gas emissions [ 70 ]/kg\u00b7t \u22121 | 632.23 \nThermal energy [ 65 ]/J\u00b7g \u22121 | 7342 \n**III** | Lime powder consumption [ 67 ]/kg\u00b7t \u22121 | 1.71 | The amount of waste metal produced [ 71 ]/kg\u00b7t \u22121 | 30.0 \nThe amount of flue gas after purification [ 70 ]/kg\u00b7t \u22121 | 121.41 \nWastewater discharge [ 71 ]/m 3 \u00b7t \u22121 | 89.0 \nAmount of slag produced after treatment [ 67 ]/kg\u00b7t \u22121 | 270 \n \n[ Open in a new tab ](table/toxics-12-00786-t001/)\n\n### 3.2. Assessment of the Environmental Impacts of Incinerating Waste for\nPower Generation\n\n * (1) \n\nIdentification of types of environmental impact\n\nDue to the intricate nature of the waste incineration process for generating\nelectricity, it is divided into three stages for analysis: the pre-processing\nstage (I), the incineration stage (II), and the exhaust emission stage (III).\nGiven that the efficiency of the air purifier is limited, significant emission\ngases such as SO 2 , CO 2 , CO from incineration, NO X generated by\nengine operation, and other VOCs are selected as output points for testing\npurposes (L1, L2, L3). Five tests are conducted to ensure data reliability,\nwith an average value obtained. Specific data can be found in Table 2 ,\nTable 3 and Table 4 .\n\n#### Table 2.\n\nDetection of flue gas emissions from the pre-processing stage of environmental\nwaste at L1 monitoring station.\n\nProject | Detection 1 | Detection 2 | Detection 3 | Detection 4 | Detection 5 | Average Value \n---|---|---|---|---|---|--- \nCarbon dioxide (CO 2 ) g\u00b7m \u22123 | 558 | 428 | 572 | 521 | 417 | 499.2 \nSulfur dioxide (SO 2 ) g\u00b7m \u22123 | 12 | 10 | 10 | 11 | 9 | 10.4 \nNitrous oxide (N 2 O) g\u00b7m \u22123 | 0 | 0 | 0 | 0 | 0 | 0 \nCarbon monoxide (CO)g\u00b7m \u22123 | 0.05 | 0.08 | 0.06 | 0.07 | 0.07 | 0.066 \nNitric oxide (NO X ) g\u00b7m \u22123 | 56 | 67 | 65 | 53 | 62 | 60.6 \nVOC g\u00b7m \u22123 | 0 | 0 | 0 | 0 | 0 | 0 \n \n[ Open in a new tab ](table/toxics-12-00786-t002/)\n\n#### Table 3.\n\nDetection of flue gas emissions from the incineration process of environmental\nwaste at L2 monitoring station.\n\nProject | Detection 1 | Detection 2 | Detection 3 | Detection 4 | Detection 5 | Average Value \n---|---|---|---|---|---|--- \nCarbon dioxide (CO 2 ) g\u00b7m \u22123 | 35,423 | 36,428 | 34,872 | 35,621 | 35,317 | 35,532.2 \nSulfur dioxide (SO 2 ) g\u00b7m \u22123 | 100 | 98 | 100 | 110 | 102 | 108 \nNitrous oxide (N 2 O) g\u00b7m \u22123 | 0.22 | 0.31 | 0.26 | 0.29 | 0.32 | 0.28 \nCarbon monoxide (CO) g\u00b7m \u22123 | 0.87 | 0.89 | 0.87 | 0.90 | 0.85 | 0.876 \nNitrogen oxide (NO X ) g\u00b7m \u22123 | 856 | 897 | 885 | 843 | 892 | 874.6 \nVOC g\u00b7m \u22123 | 0.52 | 0.49 | 0.56 | 0.58 | 0.55 | 0.54 \n \n[ Open in a new tab ](table/toxics-12-00786-t003/)\n\n#### Table 4.\n\nDetection of flue gas emissions from the exhaust emission stage of\nenvironmental waste at L3 monitoring station.\n\nProject | Detection 1 | Detection 2 | Detection 3 | Detection 4 | Detection 5 | Average Value \n---|---|---|---|---|---|--- \nCarbon dioxide (CO 2 ) g\u00b7m \u22123 | 9423 | 9428 | 9872 | 9621 | 9317 | 9532.2 \nSulfur dioxide (SO 2 ) g\u00b7m \u22123 | 32 | 36 | 40 | 31 | 33 | 34.4 \nNitrous oxide (N 2 O) g\u00b7m \u22123 | 0 | 0 | 0 | 0 | 0 | 0 \nCarbon monoxide (CO) g\u00b7m \u22123 | 0.55 | 0.58 | 0.60 | 0.57 | 0.61 | 0.582 \nNitrogen oxide (NO X ) g\u00b7m \u22123 | 105 | 97 | 110 | 108 | 98 | 103.6 \nVOC g\u00b7m \u22123 | 0 | 0 | 0 | 0 | 0 | 0 \n \n[ Open in a new tab ](table/toxics-12-00786-t004/)\n\nTable 2 , Table 3 and Table 4 provide a detailed description of the gas\nemission data measured at different monitoring points (L1, L2, and L3) during\nthe process of waste incineration for power generation. Table 2 lists the\ngas emission concentrations at point L1, where the average concentration of CO\n2 is 499.2 mg/m 3 , the average concentration of SO 2 is 10.4 mg/m 3 ,\nand the concentration of NO is 0.066 mg/m 3 . Table 3 focuses on the\nemission situation at point L2, showing that the concentration of carbon\ndioxide is 35,532.2 mg/m 3 , sulfur dioxide is 108 mg/m 3 , and nitrogen\nmonoxide is 0.876 mg/m 3 . Finally, Table 4 provides the emission data for\npoint L3, with a carbon dioxide concentration of 9532.2 mg/m 3 , sulfur\ndioxide of 34.4 mg/m 3 , and nitrogen monoxide of 0.582 mg/m 3 . These\ndata, obtained through multiple measurements, provide a quantitative basis for\nassessing the environmental impact of gas emissions during the incineration\nprocess, revealing the emission characteristics at different monitoring points\nand their potential environmental risks, emphasizing the effectiveness of\nincineration technology in emission reduction and its importance for\nenvironmental management.\n\n * (2) \n\nCalculation of standardized values for environmental impact\n\nIn life cycle assessment (LCA), characterization factors refer to the\ncoefficients used to quantify specific environmental impacts. These factors\nare typically used to convert the emissions of substances (such as greenhouse\ngas emissions, releases of toxic substances, etc.) into the potential impact\namounts of specific environmental impacts, such as global warming potential\n(GWP), acidification potential (AP), or ozone depletion potential (ODP).\nEmploying the ReCiPe model [ 61 ], we calculate the characterization factors\nof the features to shed light on distinct types of environmental impacts. The\npurpose of characterizing calculations is to convert different substances from\neach type of environmental impact into a unified parameter for subsequent\nweighted calculations. In relation to global hot environmental issues, this\npaper primarily focuses on 18 types of environmental impacts during the\nprocess of waste incineration for electricity generation. These specifically\ninclude, global warming, stratospheric ozone depletion, ionizing radiation,\nozone formation and human health impacts, fine particulate matter formation,\nterrestrial acidification, ozone formation in terrestrial ecosystems,\nfreshwater eutrophication, marine eutrophication, terrestrial ecotoxicity,\nmarine ecotoxicity, freshwater ecotoxicity, human carcinogenic toxicity, human\nnon-carcinogenic toxicity, scarcity of mineral resources, scarcity of fossil\nresources, and environmental impacts related to land use and water\nconsumption. ReCiPe 2016 has already provided a detailed description of the\nimpact categories and characteristic factors. The specific standardization\nresults are shown in Table 5 . The characterizing calculation results are\nobtained by multiplying the corresponding gas emissions with their respective\nrelevant factors to obtain the final outcome [ 72 ].\n\n#### Table 5.\n\nCharacterization of the environmental effects.\n\nProject | Unit | Altogether | Wastewater Solid Waste Discharge | Slaked Lime | Acticarbon | Process Water | Electricity | Compressed Gas | Ammonia | Fire Coal | Energy Recovery \n---|---|---|---|---|---|---|---|---|---|---|--- \nGlobal warming | kg CO 2 eq | \u2212732.78 | 3472.22 | 1.75 | 6.85 | 498.28 | 11.59 | 315.043 | 0.96 | 2390.99 | \u22127430.47 \nStratospheric ozone depletion | kg CFC11 eq | \u22120.00141 | 0 | 5.18 \u00d7 10 \u22127 | 1.04 \u00d7 10 \u22126 | 3.37 \u00d7 10 \u22124 | 3.16 \u00d7 10 \u22126 | 7.55 \u00d7 10 \u22125 | 3.62 \u00d7 10 \u22127 | 7.80 \u00d7 10 \u22125 | \u22120.002 \nIonizing radiation | kBq Co-60 eq | \u221242.22 | 0 | 0.07 | 0.21 | 64.06 | 0.16 | 45.72 | 0.02 | 4.07 | \u2212156.54 \nOzone formation and human health | kg NO x eq | 1806.10 | 1811.11 | 0.004 | 0.01 | 1.02 | 0.03 | 0.53 | 0.001 | 1.77 | \u22128.38 \nFine particulate matter formation | kg PM 2.5 eq | 1.63 | 0 | 0.001 | 0.002 | 0.54 | 0.004 | 0.41 | 0.0002 | 1.39 | \u22120.72 \nOzone formation and the terrestrial ecosystems | kg NO x eq | 1805.93 | 1811.11 | 0.004 | 0.01 | 1.04 | 0.03 | 0.54 | 0.001 | 1.78 | \u22128.58 \nLand acidification | kg SO 2 eq | 1158.61 | 1168.66 | 0.006 | 0.03 | 1.60 | 0.07 | 1.09 | 0.002 | 2.84 | \u221215.69 \nFreshwater eutrophication | kg P eq | 0.56 | 0 | 0.0004 | 0.002 | 0.26 | 0.001 | 0.16 | 6.32 | 0.83 | \u22120.68 \nOcean eutrophication | kg N eq | 0.04 | 0 | 0.0001 | 0.0001 | 0.03 | 8.12 | 0.01 | 4.23 | 0.05 | \u22120.05 \nLand ecological toxicity | kg 1,4-DC eq | 305,617.08 | 309,375 | 1.44 | 2.17 | 455.23 | 3.04 | 97.07 | 2.25 | 207.51 | \u22124526.63 \nFreshwater ecological toxicity | kg 1,4-DC eq | 21.98 | 0.35 | 0.03 | 0.10 | 19.19 | 0.21 | 5.68 | 0.02 | 30.26 | \u221233.88 \nMarine ecological toxicity | kg 1,4-DC eq | 33.80 | 29.33 | 0.008 | 0.03 | 5.95 | 0.05 | 1.78 | 0.007 | 10.00 | \u221213.38 \nHuman oncogenic toxicity | kg 1,4-DC eq | 128.02 | 128.83 | 0.0005 | 0.002 | 0.27 | 0.001 | 0.07 | 0.0004 | 0.47 | \u22121.62 \nNon-carcinogenic toxicity in humans | kg 1,4-DC eq | 13,531.63 | 13,536.50 | 0.02 | 0.13 | 11.44 | 0.06 | 3.02 | 0.01 | 20.16 | \u221239.80 \nLand use | m 2 a crop eq | 31.14 | 0 | 0.37 | 0.70 | 76.68 | 0.08 | 6.42 | 0.04 | 169.0 | \u2212222.17 \nMineral resources are scarce | kg Cu eq | 2.59 | 0 | 0.002 | 0.002 | 3.54 | 0.004 | 0.23 | 0.002 | 0.63 | \u22121.82 \nFossil resources are scarce | kg oil eq | \u22121205.92 | 0 | 0.35 | 1.52 | 113.62 | 1.56 | 64.69 | 0.38 | 924.06 | \u22122312.04 \nWater consumption | m 3 eq | 652.57 | 0 | 0.06 | 0.02 | 558.45 | 0.04 | 96.71 | 0.03 | 5.37 | \u22128.10 \n \n[ Open in a new tab ](table/toxics-12-00786-t005/)\n\n * (3) \n\nNormalization and weighted calculations\n\nAfter computing the characteristic values, it is necessary to standardize and\nassign weights to the obtained impact potentials. In this study, the\nenvironmental impact load of 1990 was taken as the benchmark value for\nweighted calculations, with a step value of 1. The formula for calculating\nstandardized potential values of environmental pollutants\u2019 effects is provided\nbelow [ 73 , 74 ]:\n\nNPE m = EP m / ER m | (1) \n---|--- \n \nIn the provided equation, NPE _ m _ represents the normalized data value of\nthe _m_ -th type of environmental impact potential; EP _ m _ denotes the\nenvironmental potential value for the _m_ -th type of environmental impact\nwithin the system; and ER _ m _ corresponds to the standardized data value of\nthe _m_ -th type of environmental impact potential. The computational outcome\nis depicted in Table 6 .\n\n#### Table 6.\n\nNormalized characterization factors.\n\nProject | Altogether | Wastewater Solid Waste Discharge | Slaked Lime | Acticarbon | Process Water | Electricity | Compressed Gas | Ammonia | Fire Coal | Energy Recovery \n---|---|---|---|---|---|---|---|---|---|--- \nGlobal warming | \u22120.07 | 0.32 | 0.0001 | 6.0 \u00d7 10 \u22125 | 0.05 | 0.001 | 0.03 | 8.92 \u00d7 10 \u22125 | 0.22 | \u22120.69 \nStratospheric ozone depletion | \u22120.02 | 0 | 7.9 \u00d7 10 \u22126 | 1.6 \u00d7 10 \u22125 | 0.005 | 4.8 \u00d7 10 \u22125 | 0.001 | 5.5 \u00d7 10 \u22126 | 0.001 | \u22120.03 \nIonizing radiation | \u22120.08 | 0 | 0.0001 | 0.0004 | 0.14 | 0.0003 | 0.10 | 3.5 \u00d7 10 \u22125 | 0.008 | \u22120.33 \nOzone formation and human health | 87.78 | 88.02 | 0.0002 | 6.0 \u00d7 10 \u22125 | 0.05 | 0.001 | 0.03 | 5.1 \u00d7 10 \u22125 | 0.09 | \u22120.41 \nFine particulate matter formation | 0.10 | 0 | 9.0 \u00d7 10 \u22125 | 1.0 \u00d7 10 \u22125 | 0.03 | 0.0003 | 0.03 | 1.6 \u00d7 10 \u22125 | 0.09 | \u22120.05 \nOzone formation and the terrestrial ecosystems | 101.67 | 101.97 | 0.0003 | 7.0 \u00d7 10 \u22125 | 0.06 | 0.001 | 0.03 | 6.1 \u00d7 10 \u22125 | 0.10 | \u22120.48 \nLand acidification | 28.27 | 28.52 | 0.0001 | 7.0 \u00d7 10 \u22125 | 0.04 | 0.001 | 0.03 | 5.6 \u00d7 10 \u22125 | 0.07 | \u22120.38 \nFreshwater eutrophication | 0.87 | 0 | 0.0006 | 0.003 | 0.40 | 0.001 | 0.24 | 9.7 \u00d7 10 \u22125 | 1.27 | \u22121.04 \nOcean eutrophication | 0.009 | 0 | 2.3 \u00d7 10 \u22125 | 3.5 \u00d7 10 \u22125 | 0.005 | 1.7 \u00d7 10 \u22125 | 0.002 | 9.1 \u00d7 10 \u22127 | 0.01 | \u22120.01 \nLand ecological toxicity | 550.11 | 556.88 | 0.002 | 0.003 | 0.82 | 0.005 | 0.17 | 0.004 | 0.37 | \u22128.15 \nFreshwater ecological toxicity | 21.63 | 0.35 | 0.03 | 0.10 | 18.89 | 0.20 | 5.59 | 0.02 | 29.78 | \u221233.33 \nMarine ecological toxicity | 85.163 | 73.92 | 0.02 | 0.08 | 15.01 | 0.13 | 4.48 | 0.02 | 25.21 | \u221233.71 \nHuman cancer | 54.92 | 55.27 | 0.0002 | 0.0008 | 0.12 | 0.0005 | 0.03 | 0.0002 | 0.20 | \u22120.69 \nHuman non-carcinogenic | 435.72 | 435.88 | 0.0007 | 0.004 | 0.37 | 0.001 | 0.10 | 0.0003 | 0.65 | \u22121.28 \nLand use | 0.005 | 0 | 5.9 \u00d7 10 \u22125 | 0.0001 | 0.012 | 1.3 \u00d7 10 \u22125 | 0.001 | 6.5 \u00d7 10 \u22126 | 0.03 | \u22120.04 \nThe scarcity of mineral resources | 1.30 \u00d7 10 \u22125 | 0 | 1.2 \u00d7 10 \u22128 | 1.2 \u00d7 10 \u22128 | 1.8 \u00d7 10 \u22125 | 2.2 \u00d7 10 \u22128 | 1.1 \u00d7 10 \u22126 | 1.0 \u00d7 10 \u22128 | 3.2 \u00d7 10 \u22126 | \u22129.4 \u00d7 10 \u22126 \nFossil resources are scarce | \u22121.23 | 0 | 0.0003 | 0.001 | 0.12 | 0.001 | 0.07 | 0.0003 | 0.94 | \u22122.36 \nWater consumption | 2.45 | 0 | 0.0002 | 6.10 \u00d7 10 \u22125 | 2.09 | 0.0001 | 0.36 | 9.40 \u00d7 10 \u22125 | 0.02 | \u22120.03 \n \n[ Open in a new tab ](table/toxics-12-00786-t006/)\n\n### 3.3. Analysis of the Environmental Impacts and Improvement Measures for\nIncineration of Industrial Waste\n\nUpon examining Table 5 and Table 6 , it can be inferred that during the\nprocess of waste incineration for power generation, the potential impacts of\nglobal warming, ionizing radiation, and the scarcity of fossil resources are\nnegative, indicating a type that is environmentally friendly. Greenhouse gases\ngenerated by waste incineration are offset by the energy recovery benefits\ngenerated by recycling, while also resolving the issue of depletion in other\nfossil resources. Furthermore, if waste is not adequately addressed through\nincineration, the significant impact of ionizing radiation resulting from its\nstorage or landfilling persists; however, such impacts are eliminated after\nundergoing incineration. Amongst environmental impacts, land, freshwater, and\nmarine ecosystems possess the greatest potential toxicity, followed by the\nharmful effects on human health and the influence of ozone-producing\nphotochemical pollution. Lastly, there comes terrestrial acidification,\nwhereas other types of effects can be relatively disregarded in comparison.\nDue to the intricate composition of various discarded materials, during the\nincineration process, a wide range of toxic and harmful gases, waste residues,\nand leachate pollutants unavoidably lead to an ecological toxicity evolution,\nthereby resulting in ecological imbalance. Furthermore, the incomplete\ncombustion of gases such as CO and CH 4 during the incineration process\nexacerbates the formation of ozone, leading to photochemical pollution. In\naddition, other acidic gases such as H 2 S and SO 2 are emitted into the\natmosphere, causing air and land acidification. Ultimately, these factors\nsignificantly impede humanity and its way of life. Therefore, further analysis\nis conducted on the aforementioned prominent potentialities of detrimental\nimpacts, pertaining to the four distinct types of environmental influences.\nCorresponding enhancements are subsequently proposed in relation to these four\ninfluences. Based on the aforementioned computational analysis, it can be\ninferred that, within the process of utilizing incineration for generating\nelectricity from environmental waste, the primary environmental factor with\nthe most profound impact is ecological toxicity, followed by human toxicity\nhazards. Lastly, there are concerns surrounding photochemical pollution caused\nby ozone formation and environmental acidification. With regard to these\ncategories, there are proposed measures for improvement as follows:\n\n * (1) \n\nIn order to effectively reduce the ecological and human toxicity caused by the\nemission of harmful substances, such as dioxin gas and fly ash, we can enhance\nthe incineration efficiency to ensure full decomposition and minimize emission\nconcentrations. As for common solid waste like furnace slag, it can typically\nbe directly utilized as a secondary material.\n\n * (2) \n\nLeachate from waste infiltration will penetrate groundwater and surface water\nsources due to gravitational runoff, causing the contamination of natural\nwater sources and downstream soil. Therefore, the treatment and prevention of\nleachate are of the utmost importance. For instance, high temperature\noxidative decomposition can be carried out on the percolate through an\nincinerator for effective disposal.\n\n * (3) \n\nThe primary culprit responsible for ozone is carbon monoxide gas. Therefore,\nit is imperative to minimize the consumption of coal during combustion. In\naddition, enhancing the efficiency of combustion calls for the introduction of\nnovel techniques and advanced equipment, which will ensure a more thorough\nincineration of environmental waste while simultaneously reducing emissions\nand input requirements.\n\n * (4) \n\nEnvironmental acidification primarily occurs due to the presence of acidic\ngases, such as hydrogen sulfide and ammonia, which are irritants in nature.\nThese gases are generated at various stages of processing. Consequently,\nresolving the issue pertaining to these gases becomes a matter of utmost\nimportance. Therefore, when handling and unloading waste, it may be advisable\nto install air curtains at the entrances and exits to prevent the escape of\nharmful gases. Additionally, during waste storage, periodic movement or\nagitation should be conducted to prevent fermentation and gas production.\nFurthermore, it is imperative to enhance the efficiency of smoke purification\nequipment, directing any unburned hazardous gases through ducts and fans into\nadsorption and filtration devices for treatment before achieving compliance\nwith emission standards.\n\n * (5) \n\nTraffic conditions have a significant impact on the site selection of waste\nincineration power plants through energy consumption and exhaust emissions.\nThe location of a waste incineration power plant should be as close as\npossible to the service area and the slag/fly ash processing area, and the\ntransportation distance should be economically reasonable. There should be\ngood traffic conditions between the waste incineration power plant, the\nservice area, and the slag/fly ash disposal area.\n\n## 4\\. Conclusions\n\nThis study employs a life cycle assessment (LCA) approach to conduct a\ncomprehensive and detailed evaluation and analysis of the environmental\nimpacts of the waste incineration power generation process. The results reveal\nthe potential environmental impacts of each stage of the incineration power\ngeneration process and highlight key environmental issues through quantitative\ndata. During the waste collection, transportation, and incineration stages,\nthis study identifies multiple environmental impact factors and proposes\nbenchmarks for preventing and reducing incineration pollution through model\nassessments.\n\nThe environmental impact assessment of the incineration process indicates that\nwhile waste-to-energy incineration has positive effects in reducing global\nwarming, ionizing radiation, and fossil resource scarcity, it also poses\nsignificant environmental risks, particularly concerning ecological toxicity,\nhuman health hazards, ozone formation, and land acidification. The gas\nemission data measured at different monitoring points during the incineration\npower generation process provide quantitative evidence for assessing the\nenvironmental impact of gas emissions. The characterization and normalization\ncalculations of environmental impacts show that the global warming potential\nvalue is \u22120.07 kg CO 2 eq, indicating that incineration power generation\ncontributes to reducing greenhouse gas emissions. However, the impact\npotential for terrestrial, freshwater, and marine ecological toxicity is the\nhighest, followed by the toxicity hazard to human health, quantified at 435.72\nkg 1,4-DC eq. The impacts of photochemical pollution from ozone formation and\nland acidification are relatively minor.\n\nAdditionally, the overall environmental impact of waste energy recovery is\npredicted. Based on model data analysis, it can be inferred that the\nenvironmental impacts during the incineration power generation process are\nprimarily beneficial to the environment, with a focus on global warming,\nfossil resource scarcity, and ionizing radiation. These factors provide\npositive benefits to the environment. Furthermore, the ranking of potential\nenvironmental impacts is as follows: ecological toxicity > potential human\ntoxicity > photochemical ozone formation > environmental acidification. Air\npollutants generated during this process, such as PM 2.5 , SO 2 , CO, HCl,\ndioxins, and H 2 S, have significant impacts on the environment,\nnecessitating concentrated prevention and control efforts.\n\nIn response to the aforementioned harmful impacts, this study proposes a\nseries of improvement measures, including enhancing incineration efficiency,\noptimizing leachate treatment, reducing coal usage, and controlling acidic gas\nemissions. These measures aim to reduce the toxic substance emissions that\nharm ecology and human health, minimize leachate pollution to water sources\nand soil, improve combustion efficiency to reduce emissions of gases like CO\nand CH 4 , and control acidic gas emissions to mitigate environmental\nacidification.\n\n## Acknowledgments\n\nThe authors thank all the participants who devoted their free time to\nparticipate in this study. This research was also funded by the National\nNature Science Foundation of China (52000183), Research project funded by the\nEducation Department of Hunan Province (22B0883), Hunan Province Environmental\nProtection Research Project (HBKYXM-2023038), National Local Joint Engineering\nResearch Center of Heavy Metals Pollutants Control and Resource Utilization\nOpen Fund (ES202380056), Scientific Research Foundation for Talented Scholars\nof CSUFT (2020YJ010).\n\n## Author Contributions\n\nConceptualization, Y.L., M.Y. and R.S.; methodology, Y.L., Y.Z. and R.S.;\nformal analysis, Y.L., S.H. and R.S.; data curation, Y.L., X.D. and R.S.;\nwriting\u2014original draft, Y.L.; writing\u2014review and editing, R.S., M.Y., Y.Z.,\nS.H., H.W. and X.D.; project administration, R.S.; funding acquisition, R.S.\nand Y.L. All authors have read and agreed to the published version of the\nmanuscript.\n\n## Institutional Review Board Statement\n\nNot applicable.\n\n## Informed Consent Statement\n\nNot applicable.\n\n## Data Availability Statement\n\nData are contained within the article.\n\n## Conflicts of Interest\n\nAuthor Yiting Luo and Xiangrong Dai were employed by the company PowerChina\nZhongnan Engineering Corporation Limited. Author Mingqiang and Yihui Zhou were\nemployed by the company Aerospace Kaitian Environmental Technology Co., Ltd.\nThe remaining authors declare that the research was conducted in the absence\nof any commercial or financial relationships that could be construed as a\npotential conflict of interest.\n\n## Funding Statement\n\nThis research was funded by the Major Program Natural Science Foundation of\nHunan Province of China (2021JC0001), Hunan Provincial Natural Science\nFoundation of China (2023JJ31010, 2024JJ7647, 2024JJ7094), Key Project of\nScientific Research Project of Hunan Provincial Department of Education\n(23A0225).\n\n## Footnotes\n\n**Disclaimer/Publisher\u2019s Note:** The statements, opinions and data contained\nin all publications are solely those of the individual author(s) and\ncontributor(s) and not of MDPI and/or the editor(s). MDPI and/or the editor(s)\ndisclaim responsibility for any injury to people or property resulting from\nany ideas, methods, instructions or products referred to in the content.\n\n## References\n\n * 1\\. Xiao J. Analysis and research on the thermal system of waste incineration power generation unit based on heat balance method. Front. Energy Res. 2023;11:1129620. doi: 10.3389/fenrg.2023.1129620. [ [ DOI ](https://doi.org/10.3389/fenrg.2023.1129620) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Front.%20Energy%20Res.&title=Analysis%20and%20research%20on%20the%20thermal%20system%20of%20waste%20incineration%20power%20generation%20unit%20based%20on%20heat%20balance%20method&author=J.%20Xiao&volume=11&publication_year=2023&pages=1129620&doi=10.3389/fenrg.2023.1129620&) ] \n * 2\\. Liu B.C., Han Z.Y., Li J., Yan B. Comprehensive evaluation of municipal solid waste power generation and carbon emission potential in Tianjin based on Grey Relation Analysis and Long Short Term Memory. Process Saf. Environ. 2022;168:918\u2013927. doi: 10.1016/j.psep.2022.10.065. [ [ DOI ](https://doi.org/10.1016/j.psep.2022.10.065) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Process%20Saf.%20Environ.&title=Comprehensive%20evaluation%20of%20municipal%20solid%20waste%20power%20generation%20and%20carbon%20emission%20potential%20in%20Tianjin%20based%20on%20Grey%20Relation%20Analysis%20and%20Long%20Short%20Term%20Memory&author=B.C.%20Liu&author=Z.Y.%20Han&author=J.%20Li&author=B.%20Yan&volume=168&publication_year=2022&pages=918-927&doi=10.1016/j.psep.2022.10.065&) ] \n * 3\\. Liu Y.C., Liao C.F., Tang Y.T., Tang J.H., Sun Y., Ma X.Q. Techno-environmental-economic evaluation of the small-scale municipal solid waste (MSW) gasification-based and incineration-based power generation plants. J. Taiwan. Inst. Chem. Eng. 2022;141:104594. doi: 10.1016/j.jtice.2022.104594. [ [ DOI ](https://doi.org/10.1016/j.jtice.2022.104594) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Taiwan.%20Inst.%20Chem.%20Eng.&title=Techno-environmental-economic%20evaluation%20of%20the%20small-scale%20municipal%20solid%20waste%20\\(MSW\\)%20gasification-based%20and%20incineration-based%20power%20generation%20plants&author=Y.C.%20Liu&author=C.F.%20Liao&author=Y.T.%20Tang&author=J.H.%20Tang&author=Y.%20Sun&volume=141&publication_year=2022&pages=104594&doi=10.1016/j.jtice.2022.104594&) ] \n * 4\\. Li T., Wang Y., Li Y.X., Jia X., Meng F.H., Li M.X. Study on the influencing factors of co-anaerobic hydrogen production from kitchen waste and municipal sludge. Acta Energ. Solaris Sin. 2019;40:2135\u20132142. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Acta%20Energ.%20Solaris%20Sin.&title=Study%20on%20the%20influencing%20factors%20of%20co-anaerobic%20hydrogen%20production%20from%20kitchen%20waste%20and%20municipal%20sludge&author=T.%20Li&author=Y.%20Wang&author=Y.X.%20Li&author=X.%20Jia&author=F.H.%20Meng&volume=40&publication_year=2019&pages=2135-2142&) ] \n * 5\\. Kiran E.U., Trzcinski A.P., Ng W.J., Liu Y. Bioconversion of food waste to energy: A review. Fuel. 2014;134:389\u2013399. doi: 10.1016/j.fuel.2014.05.074. [ [ DOI ](https://doi.org/10.1016/j.fuel.2014.05.074) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Fuel&title=Bioconversion%20of%20food%20waste%20to%20energy:%20A%20review&author=E.U.%20Kiran&author=A.P.%20Trzcinski&author=W.J.%20Ng&author=Y.%20Liu&volume=134&publication_year=2014&pages=389-399&doi=10.1016/j.fuel.2014.05.074&) ] \n * 6\\. Tang Y.-T., Huang C. Disposal of Urban Wastes. In: Abraham M.A., editor. Encyclopedia of Sustainable Technologies. 2nd ed. Elsevier; Oxford, UK: 2024. pp. 115\u2013130. [ [ DOI ](https://doi.org/10.1016/B978-0-323-90386-8.00005-X) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?title=Encyclopedia%20of%20Sustainable%20Technologies&author=Y.-T.%20Tang&author=C.%20Huang&publication_year=2024&) ] \n * 7\\. Sadef Y., Nizami A.S., Batool S.A., Chaudary M.N., Ouda O.K.M., Asam Z.Z., Habib K., Rehan M., Demirbas A. Waste-to-energy and recycling value for developing integrated solid waste management plan in Lahore. Energy Sources Part B Econ. Plan. Policy. 2016;11:569\u2013579. doi: 10.1080/15567249.2015.1052595. [ [ DOI ](https://doi.org/10.1080/15567249.2015.1052595) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Sources%20Part%20B%20Econ.%20Plan.%20Policy&title=Waste-to-energy%20and%20recycling%20value%20for%20developing%20integrated%20solid%20waste%20management%20plan%20in%20Lahore&author=Y.%20Sadef&author=A.S.%20Nizami&author=S.A.%20Batool&author=M.N.%20Chaudary&author=O.K.M.%20Ouda&volume=11&publication_year=2016&pages=569-579&doi=10.1080/15567249.2015.1052595&) ] \n * 8\\. Tan S.T., Ho W.S., Hashim H., Lee C.T., Taib M.R., Ho C.S. Energy, economic and environmental (3E) analysis of waste-to-energy (WTE) strategies for municipal solid waste (MSW) management in Malaysia. Energy Convers. Manag. 2015;102:111\u2013120. doi: 10.1016/j.enconman.2015.02.010. [ [ DOI ](https://doi.org/10.1016/j.enconman.2015.02.010) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Convers.%20Manag.&title=Energy,%20economic%20and%20environmental%20\\(3E\\)%20analysis%20of%20waste-to-energy%20\\(WTE\\)%20strategies%20for%20municipal%20solid%20waste%20\\(MSW\\)%20management%20in%20Malaysia&author=S.T.%20Tan&author=W.S.%20Ho&author=H.%20Hashim&author=C.T.%20Lee&author=M.R.%20Taib&volume=102&publication_year=2015&pages=111-120&doi=10.1016/j.enconman.2015.02.010&) ] \n * 9\\. Cucchiella F., D\u2019Adamo I., Gastaldi M. Sustainable waste management: Waste to energy plant as an alternative to landfill. Energy Convers. Manag. 2017;131:18\u201331. doi: 10.1016/j.enconman.2016.11.012. [ [ DOI ](https://doi.org/10.1016/j.enconman.2016.11.012) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Convers.%20Manag.&title=Sustainable%20waste%20management:%20Waste%20to%20energy%20plant%20as%20an%20alternative%20to%20landfill&author=F.%20Cucchiella&author=I.%20D%E2%80%99Adamo&author=M.%20Gastaldi&volume=131&publication_year=2017&pages=18-31&doi=10.1016/j.enconman.2016.11.012&) ] \n * 10\\. Hoang A.T., Varbanov P.S., Nizetic S., Sirohi R., Pandey A., Luque R., Ng K.H., Pham V. Perspective review on municipal solid waste-to-energy route: Characteristics, management strategy, and role in circular economy. J. Clean. Prod. 2022;359:131897. doi: 10.1016/j.jclepro.2022.131897. [ [ DOI ](https://doi.org/10.1016/j.jclepro.2022.131897) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Clean.%20Prod.&title=Perspective%20review%20on%20municipal%20solid%20waste-to-energy%20route:%20Characteristics,%20management%20strategy,%20and%20role%20in%20circular%20economy&author=A.T.%20Hoang&author=P.S.%20Varbanov&author=S.%20Nizetic&author=R.%20Sirohi&author=A.%20Pandey&volume=359&publication_year=2022&pages=131897&doi=10.1016/j.jclepro.2022.131897&) ] \n * 11\\. Su R., Xue R., Ma X., Zeng Z., Li L., Wang S. Targeted improvement of narrow micropores in porous carbon for enhancing trace benzene vapor removal: Revealing the adsorption mechanism via experimental and molecular simulation. J. Colloid Interf. Sci. 2024;671:770\u2013778. doi: 10.1016/j.jcis.2024.05.165. [ [ DOI ](https://doi.org/10.1016/j.jcis.2024.05.165) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/38830289/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Colloid%20Interf.%20Sci.&title=Targeted%20improvement%20of%20narrow%20micropores%20in%20porous%20carbon%20for%20enhancing%20trace%20benzene%20vapor%20removal:%20Revealing%20the%20adsorption%20mechanism%20via%20experimental%20and%20molecular%20simulation&author=R.%20Su&author=R.%20Xue&author=X.%20Ma&author=Z.%20Zeng&author=L.%20Li&volume=671&publication_year=2024&pages=770-778&pmid=38830289&doi=10.1016/j.jcis.2024.05.165&) ] \n * 12\\. Luo Y., Liu Z., Ye M., Zhou Y., Su R., Huang S., Chen Y., Dai X. Mechanism of enhanced fluoride adsorption using amino-functionalized aluminum-based metal\u2013organic frameworks. Water. 2024;16:2889. doi: 10.3390/w16202889. [ [ DOI ](https://doi.org/10.3390/w16202889) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Water&title=Mechanism%20of%20enhanced%20fluoride%20adsorption%20using%20amino-functionalized%20aluminum-based%20metal%E2%80%93organic%20frameworks&author=Y.%20Luo&author=Z.%20Liu&author=M.%20Ye&author=Y.%20Zhou&author=R.%20Su&volume=16&publication_year=2024&pages=2889&doi=10.3390/w16202889&) ] \n * 13\\. Luo Y., Gong J., Yang Z., Liu Z., Chen Y., Huang S., Su R., Ma X., Yan W. The impact of neglected potassium in KOH-activated porous carbon on CO2 capture and CO2/N2 selectivity: Experimental and molecular simulation studies. Appl. Surf. Sci. 2024;681:161571. doi: 10.1016/j.apsusc.2024.161571. [ [ DOI ](https://doi.org/10.1016/j.apsusc.2024.161571) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Appl.%20Surf.%20Sci.&title=The%20impact%20of%20neglected%20potassium%20in%20KOH-activated%20porous%20carbon%20on%20CO2%20capture%20and%20CO2/N2%20selectivity:%20Experimental%20and%20molecular%20simulation%20studies&author=Y.%20Luo&author=J.%20Gong&author=Z.%20Yang&author=Z.%20Liu&author=Y.%20Chen&volume=681&publication_year=2024&pages=161571&doi=10.1016/j.apsusc.2024.161571&) ] \n * 14\\. Su R., Wang Z., Liu Z., Chen Y., Wang H., Dai X., Ge X., Luo Y. Single atoms in environmental catalysis: Breakthroughs in synthesis and application. J. Water Process Eng. 2024;68:106319. doi: 10.1016/j.jwpe.2024.106319. [ [ DOI ](https://doi.org/10.1016/j.jwpe.2024.106319) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Water%20Process%20Eng.&title=Single%20atoms%20in%20environmental%20catalysis:%20Breakthroughs%20in%20synthesis%20and%20application&author=R.%20Su&author=Z.%20Wang&author=Z.%20Liu&author=Y.%20Chen&author=H.%20Wang&volume=68&publication_year=2024&pages=106319&doi=10.1016/j.jwpe.2024.106319&) ] \n * 15\\. Luo Y., Su R. Cobalt-based mof material activates persulfate to degrade residual ciprofloxacin. Water. 2024;16:2299. doi: 10.3390/w16162299. [ [ DOI ](https://doi.org/10.3390/w16162299) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Water&title=Cobalt-based%20mof%20material%20activates%20persulfate%20to%20degrade%20residual%20ciprofloxacin&author=Y.%20Luo&author=R.%20Su&volume=16&publication_year=2024&pages=2299&doi=10.3390/w16162299&) ] \n * 16\\. Luo Y., Liu Z., Ye M., Zhou Y., Su R., Huang S., Chen Y., Dai X. Synergistic enhancement of oxytetracycline hydrochloride removal by UV/ZIF-67 (Co)-activated peroxymonosulfate. Water. 2024;16:2586. doi: 10.3390/w16182586. [ [ DOI ](https://doi.org/10.3390/w16182586) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Water&title=Synergistic%20enhancement%20of%20oxytetracycline%20hydrochloride%20removal%20by%20UV/ZIF-67%20\\(Co\\)-activated%20peroxymonosulfate&author=Y.%20Luo&author=Z.%20Liu&author=M.%20Ye&author=Y.%20Zhou&author=R.%20Su&volume=16&publication_year=2024&pages=2586&doi=10.3390/w16182586&) ] \n * 17\\. Song J.N., Feng R.C., Yue C.L., Shao Y.X., Han J.T., Xing J.H., Yang W. Reinforced urban waste management for resource, energy and environmental benefits: China\u2019s regional potentials. Resour. Conserv. Recycl. 2022;178:106083. doi: 10.1016/j.resconrec.2021.106083. [ [ DOI ](https://doi.org/10.1016/j.resconrec.2021.106083) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Resour.%20Conserv.%20Recycl.&title=Reinforced%20urban%20waste%20management%20for%20resource,%20energy%20and%20environmental%20benefits:%20China%E2%80%99s%20regional%20potentials&author=J.N.%20Song&author=R.C.%20Feng&author=C.L.%20Yue&author=Y.X.%20Shao&author=J.T.%20Han&volume=178&publication_year=2022&pages=106083&doi=10.1016/j.resconrec.2021.106083&) ] \n * 18\\. Den Boer E., Banaszkiewicz K., den Boer J., Pasiecznik I. Energy recovery from waste-closing the municipal loop. Energies. 2022;15:1246. doi: 10.3390/en15031246. [ [ DOI ](https://doi.org/10.3390/en15031246) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energies&title=Energy%20recovery%20from%20waste-closing%20the%20municipal%20loop&author=E.%20Den%20Boer&author=K.%20Banaszkiewicz&author=J.%20den%20Boer&author=I.%20Pasiecznik&volume=15&publication_year=2022&pages=1246&doi=10.3390/en15031246&) ] \n * 19\\. Ndou V., Rampedi I.T. Bibliometric analysis of municipal solid waste management research: Global and south african trends. Sustainability. 2022;14:10229. doi: 10.3390/su141610229. [ [ DOI ](https://doi.org/10.3390/su141610229) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sustainability&title=Bibliometric%20analysis%20of%20municipal%20solid%20waste%20management%20research:%20Global%20and%20south%20african%20trends&author=V.%20Ndou&author=I.T.%20Rampedi&volume=14&publication_year=2022&pages=10229&doi=10.3390/su141610229&) ] \n * 20\\. Wang Q.A., Zhang Z.Y., Wang M., Wang B. Smart management platform for landfilling of waste after mechanical biological treatment. Adv. Civ. Eng. 2022;2022:5376066. doi: 10.1155/2022/5376066. [ [ DOI ](https://doi.org/10.1155/2022/5376066) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Adv.%20Civ.%20Eng.&title=Smart%20management%20platform%20for%20landfilling%20of%20waste%20after%20mechanical%20biological%20treatment&author=Q.A.%20Wang&author=Z.Y.%20Zhang&author=M.%20Wang&author=B.%20Wang&volume=2022&publication_year=2022&pages=5376066&doi=10.1155/2022/5376066&) ] \n * 21\\. Su R., Li Z., Ma X., Li Y., Zeng Z., Li L., Sheng P., Wang H., Wang S. Machine learning, experiments and molecular simulation demonstrate the adsorption mechanism of acetone on porous carbon at different pressures. Sep. Purif. Technol. 2023;323:124480. doi: 10.1016/j.seppur.2023.124480. [ [ DOI ](https://doi.org/10.1016/j.seppur.2023.124480) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sep.%20Purif.%20Technol.&title=Machine%20learning,%20experiments%20and%20molecular%20simulation%20demonstrate%20the%20adsorption%20mechanism%20of%20acetone%20on%20porous%20carbon%20at%20different%20pressures&author=R.%20Su&author=Z.%20Li&author=X.%20Ma&author=Y.%20Li&author=Z.%20Zeng&volume=323&publication_year=2023&pages=124480&doi=10.1016/j.seppur.2023.124480&) ] \n * 22\\. Octavianthy D., Syauqi A., Reyseliani N., Purwanto W.W. Multi-period enviro-economic optimization of municipal solid waste to electricity. Waste Biomass Valorization. 2022;13:3707\u20133722. doi: 10.1007/s12649-022-01758-1. [ [ DOI ](https://doi.org/10.1007/s12649-022-01758-1) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Biomass%20Valorization&title=Multi-period%20enviro-economic%20optimization%20of%20municipal%20solid%20waste%20to%20electricity&author=D.%20Octavianthy&author=A.%20Syauqi&author=N.%20Reyseliani&author=W.W.%20Purwanto&volume=13&publication_year=2022&pages=3707-3722&doi=10.1007/s12649-022-01758-1&) ] \n * 23\\. Jabeen F., Adrees M., Ibrahim M., Mahmood A., Khalid S., Sipra H.F.K., Bokhari A., Mubashir M., Khoo K.S., Show P.L. Trash to energy: A measure for the energy potential of combustible content of domestic solid waste generated from an industrialized city of pakistan. J. Taiwan Inst. Chem. Eng. 2022;137:104223. doi: 10.1016/j.jtice.2022.104223. [ [ DOI ](https://doi.org/10.1016/j.jtice.2022.104223) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Taiwan%20Inst.%20Chem.%20Eng.&title=Trash%20to%20energy:%20A%20measure%20for%20the%20energy%20potential%20of%20combustible%20content%20of%20domestic%20solid%20waste%20generated%20from%20an%20industrialized%20city%20of%20pakistan&author=F.%20Jabeen&author=M.%20Adrees&author=M.%20Ibrahim&author=A.%20Mahmood&author=S.%20Khalid&volume=137&publication_year=2022&pages=104223&doi=10.1016/j.jtice.2022.104223&) ] \n * 24\\. Luz F.C., Rocha M.H., Silva Lora E.E., Venturini O.J., Andrade R.V., Vicente Leme M.M., Oscar A.D.O. Techno-economic analysis of municipal solid waste gasification for electricity generation in Brazil. Energy Convers. Manag. 2015;103:321\u2013337. doi: 10.1016/j.enconman.2015.06.074. [ [ DOI ](https://doi.org/10.1016/j.enconman.2015.06.074) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Convers.%20Manag.&title=Techno-economic%20analysis%20of%20municipal%20solid%20waste%20gasification%20for%20electricity%20generation%20in%20Brazil&author=F.C.%20Luz&author=M.H.%20Rocha&author=E.E.%20Silva%20Lora&author=O.J.%20Venturini&author=R.V.%20Andrade&volume=103&publication_year=2015&pages=321-337&doi=10.1016/j.enconman.2015.06.074&) ] \n * 25\\. Yi S., Lin H.T., Abed A.M., Shawabkeh A., Marefati M., Deifalla A. Sustainability and exergoeconomic assessments of a new MSW-to-energy incineration multi-generation process integrated with the concentrating solar collector, alkaline electrolyzer, and a reverse osmosis unit. Sustian. Cities Soc. 2023;91:104412. doi: 10.1016/j.scs.2023.104412. [ [ DOI ](https://doi.org/10.1016/j.scs.2023.104412) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sustian.%20Cities%20Soc.&title=Sustainability%20and%20exergoeconomic%20assessments%20of%20a%20new%20MSW-to-energy%20incineration%20multi-generation%20process%20integrated%20with%20the%20concentrating%20solar%20collector,%20alkaline%20electrolyzer,%20and%20a%20reverse%20osmosis%20unit&author=S.%20Yi&author=H.T.%20Lin&author=A.M.%20Abed&author=A.%20Shawabkeh&author=M.%20Marefati&volume=91&publication_year=2023&pages=104412&doi=10.1016/j.scs.2023.104412&) ] \n * 26\\. Rodrigues L.F., dos Santos I.F.S., dos Santos T.I.S., Barros R.M., Tiago G.L. Energy and economic evaluation of MSW incineration and gasification in Brazil. Renew. Energ. 2022;188:933\u2013944. doi: 10.1016/j.renene.2022.02.083. [ [ DOI ](https://doi.org/10.1016/j.renene.2022.02.083) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Renew.%20Energ.&title=Energy%20and%20economic%20evaluation%20of%20MSW%20incineration%20and%20gasification%20in%20Brazil&author=L.F.%20Rodrigues&author=I.F.S.%20dos%20Santos&author=T.I.S.%20dos%20Santos&author=R.M.%20Barros&author=G.L.%20Tiago&volume=188&publication_year=2022&pages=933-944&doi=10.1016/j.renene.2022.02.083&) ] \n * 27\\. Taki M., Rohani A. Machine learning models for prediction the Higher Heating Value (HHV) of Municipal Solid Waste (MSW) for waste-to-energy evaluation. Case Stud. Therm. Eng. 2022;31:101823. doi: 10.1016/j.csite.2022.101823. [ [ DOI ](https://doi.org/10.1016/j.csite.2022.101823) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Case%20Stud.%20Therm.%20Eng.&title=Machine%20learning%20models%20for%20prediction%20the%20Higher%20Heating%20Value%20\\(HHV\\)%20of%20Municipal%20Solid%20Waste%20\\(MSW\\)%20for%20waste-to-energy%20evaluation&author=M.%20Taki&author=A.%20Rohani&volume=31&publication_year=2022&pages=101823&doi=10.1016/j.csite.2022.101823&) ] \n * 28\\. Fazeli A., Bakhtvar F., Jahanshaloo L., Sidik N.A.C., Bayat A.E. Malaysias stand on municipal solid waste conversion to energy: A review. Renew. Sustain. Energy Rev. 2016;58:1007\u20131016. doi: 10.1016/j.rser.2015.12.270. [ [ DOI ](https://doi.org/10.1016/j.rser.2015.12.270) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Renew.%20Sustain.%20Energy%20Rev.&title=Malaysias%20stand%20on%20municipal%20solid%20waste%20conversion%20to%20energy:%20A%20review&author=A.%20Fazeli&author=F.%20Bakhtvar&author=L.%20Jahanshaloo&author=N.A.C.%20Sidik&author=A.E.%20Bayat&volume=58&publication_year=2016&pages=1007-1016&doi=10.1016/j.rser.2015.12.270&) ] \n * 29\\. Pan S.Y., Du M.A., Huang I.T., Liu I.H., Chang E.E., Chiang P.C. Strategies on implementation of waste-to-energy (WTE) supply chain for circular economy system: A review. J. Clean. Prod. 2015;108:409\u2013421. doi: 10.1016/j.jclepro.2015.06.124. [ [ DOI ](https://doi.org/10.1016/j.jclepro.2015.06.124) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Clean.%20Prod.&title=Strategies%20on%20implementation%20of%20waste-to-energy%20\\(WTE\\)%20supply%20chain%20for%20circular%20economy%20system:%20A%20review&author=S.Y.%20Pan&author=M.A.%20Du&author=I.T.%20Huang&author=I.H.%20Liu&author=E.E.%20Chang&volume=108&publication_year=2015&pages=409-421&doi=10.1016/j.jclepro.2015.06.124&) ] \n * 30\\. Horttanainen M., Teirasvuo N., Kapustina V., Hupponen M., Luoranen M. The composition, heating value and renewable share of the energy content of mixed municipal solid waste in Finland. Waste Manag. 2013;33:2680\u20132686. doi: 10.1016/j.wasman.2013.08.017. [ [ DOI ](https://doi.org/10.1016/j.wasman.2013.08.017) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/24047676/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=The%20composition,%20heating%20value%20and%20renewable%20share%20of%20the%20energy%20content%20of%20mixed%20municipal%20solid%20waste%20in%20Finland&author=M.%20Horttanainen&author=N.%20Teirasvuo&author=V.%20Kapustina&author=M.%20Hupponen&author=M.%20Luoranen&volume=33&publication_year=2013&pages=2680-2686&pmid=24047676&doi=10.1016/j.wasman.2013.08.017&) ] \n * 31\\. Ng W.P.Q., Lam H.L., Varbanov P.S., Klemes J.J. Waste-to-Energy (WTE) network synthesis for Municipal Solid Waste (MSW) Energy Convers. Manag. 2014;85:866\u2013874. doi: 10.1016/j.enconman.2014.01.004. [ [ DOI ](https://doi.org/10.1016/j.enconman.2014.01.004) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Convers.%20Manag.&title=Waste-to-Energy%20\\(WTE\\)%20network%20synthesis%20for%20Municipal%20Solid%20Waste%20\\(MSW\\)&author=W.P.Q.%20Ng&author=H.L.%20Lam&author=P.S.%20Varbanov&author=J.J.%20Klemes&volume=85&publication_year=2014&pages=866-874&doi=10.1016/j.enconman.2014.01.004&) ] \n * 32\\. Coelho E. Eurostat Database: \u201cNew Cronos\u201d. Springer; Dordrecht, The Netherlands: 2014. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?title=Eurostat%20Database:%20%E2%80%9CNew%20Cronos%E2%80%9D&author=E.%20Coelho&publication_year=2014&) ] \n * 33\\. D\u2019adamo I., Rosa P. Current state of renewable energies performances in the European Union: A new reference framework. Energy Convers. Manag. 2016;121:84\u201392. doi: 10.1016/j.enconman.2016.05.027. [ [ DOI ](https://doi.org/10.1016/j.enconman.2016.05.027) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Convers.%20Manag.&title=Current%20state%20of%20renewable%20energies%20performances%20in%20the%20European%20Union:%20A%20new%20reference%20framework&author=I.%20D%E2%80%99adamo&author=P.%20Rosa&volume=121&publication_year=2016&pages=84-92&doi=10.1016/j.enconman.2016.05.027&) ] \n * 34\\. Nizami A.S., Rehan M., Waqas M., Naqvi M., Ouda O.K.M., Shahzad K., Miandad R., Khan M.Z., Syamsiro M., Ismail I.M.I. Waste biorefineries: Enabling circular economies in developing countries. Bioresour. Technol. 2017;241:1101\u20131107. doi: 10.1016/j.biortech.2017.05.097. [ [ DOI ](https://doi.org/10.1016/j.biortech.2017.05.097) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/28579178/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Bioresour.%20Technol.&title=Waste%20biorefineries:%20Enabling%20circular%20economies%20in%20developing%20countries&author=A.S.%20Nizami&author=M.%20Rehan&author=M.%20Waqas&author=M.%20Naqvi&author=O.K.M.%20Ouda&volume=241&publication_year=2017&pages=1101-1107&pmid=28579178&doi=10.1016/j.biortech.2017.05.097&) ] \n * 35\\. Zheng L., Song J., Li C., Gao Y., Geng P., Qu B., Lin L. Preferential policies promote municipal solid waste (MSW) to energy in China: Current status and prospects. Renew. Sustain. Energy Rev. 2014;36:135\u2013148. doi: 10.1016/j.rser.2014.04.049. [ [ DOI ](https://doi.org/10.1016/j.rser.2014.04.049) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Renew.%20Sustain.%20Energy%20Rev.&title=Preferential%20policies%20promote%20municipal%20solid%20waste%20\\(MSW\\)%20to%20energy%20in%20China:%20Current%20status%20and%20prospects&author=L.%20Zheng&author=J.%20Song&author=C.%20Li&author=Y.%20Gao&author=P.%20Geng&volume=36&publication_year=2014&pages=135-148&doi=10.1016/j.rser.2014.04.049&) ] \n * 36\\. Martin J.J.E., Koralewska R., Wohlleben A. Advanced solutions in combustion-based WtE technologies. Waste Manag. 2015;37:147\u2013156. doi: 10.1016/j.wasman.2014.08.026. [ [ DOI ](https://doi.org/10.1016/j.wasman.2014.08.026) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/25305685/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=Advanced%20solutions%20in%20combustion-based%20WtE%20technologies&author=J.J.E.%20Martin&author=R.%20Koralewska&author=A.%20Wohlleben&volume=37&publication_year=2015&pages=147-156&pmid=25305685&doi=10.1016/j.wasman.2014.08.026&) ] \n * 37\\. Poggio A., Grieco E. Influence of flue gas cleaning system on the energetic efficiency and on the economic performance of a WTE plant. Waste Manag. 2010;30:1355\u20131361. doi: 10.1016/j.wasman.2009.09.008. [ [ DOI ](https://doi.org/10.1016/j.wasman.2009.09.008) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/19822412/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=Influence%20of%20flue%20gas%20cleaning%20system%20on%20the%20energetic%20efficiency%20and%20on%20the%20economic%20performance%20of%20a%20WTE%20plant&author=A.%20Poggio&author=E.%20Grieco&volume=30&publication_year=2010&pages=1355-1361&pmid=19822412&doi=10.1016/j.wasman.2009.09.008&) ] \n * 38\\. Fu Z., Zhang S., Li X., Shao J., Wang K., Chen H. MSW oxy-enriched incineration technology applied in China: Combustion temperature, flue gas loss and economic considerations. Waste Manag. 2015;38:149\u2013156. doi: 10.1016/j.wasman.2014.12.026. [ [ DOI ](https://doi.org/10.1016/j.wasman.2014.12.026) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/25680237/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=MSW%20oxy-enriched%20incineration%20technology%20applied%20in%20China:%20Combustion%20temperature,%20flue%20gas%20loss%20and%20economic%20considerations&author=Z.%20Fu&author=S.%20Zhang&author=X.%20Li&author=J.%20Shao&author=K.%20Wang&volume=38&publication_year=2015&pages=149-156&pmid=25680237&doi=10.1016/j.wasman.2014.12.026&) ] \n * 39\\. Tian W., Zhou J., Li H. Present Situation and Development Prospect of Garbage Power Generation Technology in China; Proceedings of the 5th International Conference on Advanced Design and Manufacturing Engineering; Shenzhen, China. 19\u201320 September 2015; Amsterdam, The Netherlands: Atlantis Press; pp. 2064\u20132067. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Proceedings%20of%20the%205th%20International%20Conference%20on%20Advanced%20Design%20and%20Manufacturing%20Engineering&title=Present%20Situation%20and%20Development%20Prospect%20of%20Garbage%20Power%20Generation%20Technology%20in%20China&author=W.%20Tian&author=J.%20Zhou&author=H.%20Li&pages=2064-2067&) ] \n * 40\\. Luo Y., Su R. Preparation of NH2-MIL-101(Fe) metal organic framework and its performance in adsorbing and removing tetracycline. Int. J. Mol. Sci. 2024;25:9855. doi: 10.3390/ijms25189855. [ [ DOI ](https://doi.org/10.3390/ijms25189855) ] [ [ PMC free article ](/articles/PMC11432026/) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/39337342/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Int.%20J.%20Mol.%20Sci.&title=Preparation%20of%20NH2-MIL-101\\(Fe\\)%20metal%20organic%20framework%20and%20its%20performance%20in%20adsorbing%20and%20removing%20tetracycline&author=Y.%20Luo&author=R.%20Su&volume=25&publication_year=2024&pages=9855&pmid=39337342&doi=10.3390/ijms25189855&) ] \n * 41\\. Li D., Su R., Ma X., Zeng Z., Li L., Wang H. Porous carbon for oxygenated and aromatic VOCs adsorption by molecular simulation and experimental study: Effect pore structure and functional groups. Appl. Surf. Sci. 2022;605:154708. doi: 10.1016/j.apsusc.2022.154708. [ [ DOI ](https://doi.org/10.1016/j.apsusc.2022.154708) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Appl.%20Surf.%20Sci.&title=Porous%20carbon%20for%20oxygenated%20and%20aromatic%20VOCs%20adsorption%20by%20molecular%20simulation%20and%20experimental%20study:%20Effect%20pore%20structure%20and%20functional%20groups&author=D.%20Li&author=R.%20Su&author=X.%20Ma&author=Z.%20Zeng&author=L.%20Li&volume=605&publication_year=2022&pages=154708&doi=10.1016/j.apsusc.2022.154708&) ] \n * 42\\. Gu T.B., Ma W.C., Berning T., Guo Z.N., Andersson R., Yin C.E. Advanced simulation of a 750 t/d municipal solid waste grate boiler to better accommodate feedstock changes due to waste classification. Energy. 2022;254:124338. doi: 10.1016/j.energy.2022.124338. [ [ DOI ](https://doi.org/10.1016/j.energy.2022.124338) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy&title=Advanced%20simulation%20of%20a%20750%20t/d%20municipal%20solid%20waste%20grate%20boiler%20to%20better%20accommodate%20feedstock%20changes%20due%20to%20waste%20classification&author=T.B.%20Gu&author=W.C.%20Ma&author=T.%20Berning&author=Z.N.%20Guo&author=R.%20Andersson&volume=254&publication_year=2022&pages=124338&doi=10.1016/j.energy.2022.124338&) ] \n * 43\\. Raja V., Dutta S., Murugesan P., Moses J.A., Anandharamakrishnan C. Electricity production using food waste: A review. Environ. Chem. Lett. 2022;21:839\u2013864. doi: 10.1007/s10311-022-01555-1. [ [ DOI ](https://doi.org/10.1007/s10311-022-01555-1) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Environ.%20Chem.%20Lett.&title=Electricity%20production%20using%20food%20waste:%20A%20review&author=V.%20Raja&author=S.%20Dutta&author=P.%20Murugesan&author=J.A.%20Moses&author=C.%20Anandharamakrishnan&volume=21&publication_year=2022&pages=839-864&doi=10.1007/s10311-022-01555-1&) ] \n * 44\\. Chandler A.J. Municipal Solid Waste Incinerator Residues. Volume 20. Elsevier; Amsterdam, The Netherlands: 1997. pp. 295\u2013296. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?title=Municipal%20Solid%20Waste%20Incinerator%20Residues&author=A.J.%20Chandler&publication_year=1997&) ] \n * 45\\. Wang C., Zou F.Q., Yap J.B.H., Tang R., Li H. Geographic information system and system dynamics combination technique for municipal solid waste treatment station site selection. Environ. Monit. Assess. 2022;194:457. doi: 10.1007/s10661-022-10077-w. [ [ DOI ](https://doi.org/10.1007/s10661-022-10077-w) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/35612675/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Environ.%20Monit.%20Assess&title=Geographic%20information%20system%20and%20system%20dynamics%20combination%20technique%20for%20municipal%20solid%20waste%20treatment%20station%20site%20selection&author=C.%20Wang&author=F.Q.%20Zou&author=J.B.H.%20Yap&author=R.%20Tang&author=H.%20Li&volume=194&publication_year=2022&pages=457&pmid=35612675&doi=10.1007/s10661-022-10077-w&) ] \n * 46\\. Pheakdey D.V., Quan N.V., Xuan T.D. Economic and environmental benefits of energy recovery from municipal solid waste in phnom penh municipality, Cambodia. Energies. 2023;16:3234. doi: 10.3390/en16073234. [ [ DOI ](https://doi.org/10.3390/en16073234) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energies&title=Economic%20and%20environmental%20benefits%20of%20energy%20recovery%20from%20municipal%20solid%20waste%20in%20phnom%20penh%20municipality,%20Cambodia&author=D.V.%20Pheakdey&author=N.V.%20Quan&author=T.D.%20Xuan&volume=16&publication_year=2023&pages=3234&doi=10.3390/en16073234&) ] \n * 47\\. Zhang Z.J., Liu H.J., Wei X.H., He R.H. Evaluation of economic and ecological benefits of green waste recycling-Taking Chancheng District of Foshan City as an example. China Resour. Compr. Util. 2018;36:73\u201376. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=China%20Resour.%20Compr.%20Util.&title=Evaluation%20of%20economic%20and%20ecological%20benefits%20of%20green%20waste%20recycling-Taking%20Chancheng%20District%20of%20Foshan%20City%20as%20an%20example&author=Z.J.%20Zhang&author=H.J.%20Liu&author=X.H.%20Wei&author=R.H.%20He&volume=36&publication_year=2018&pages=73-76&) ] \n * 48\\. He J., Lin B. Assessment of waste incineration power with considerations of subsidies and emissions in China. Energ Policy. 2019;126:190\u2013199. doi: 10.1016/j.enpol.2018.11.025. [ [ DOI ](https://doi.org/10.1016/j.enpol.2018.11.025) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energ%20Policy&title=Assessment%20of%20waste%20incineration%20power%20with%20considerations%20of%20subsidies%20and%20emissions%20in%20China&author=J.%20He&author=B.%20Lin&volume=126&publication_year=2019&pages=190-199&doi=10.1016/j.enpol.2018.11.025&) ] \n * 49\\. Ma X., Xu W., Su R., Shao L., Zeng Z., Li L., Wang H. Insights into CO2 capture in porous carbons from machine learning, experiments and molecular simulation. Sep. Purif. Technol. 2023;306:122521. doi: 10.1016/j.seppur.2022.122521. [ [ DOI ](https://doi.org/10.1016/j.seppur.2022.122521) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sep.%20Purif.%20Technol.&title=Insights%20into%20CO2%20capture%20in%20porous%20carbons%20from%20machine%20learning,%20experiments%20and%20molecular%20simulation&author=X.%20Ma&author=W.%20Xu&author=R.%20Su&author=L.%20Shao&author=Z.%20Zeng&volume=306&publication_year=2023&pages=122521&doi=10.1016/j.seppur.2022.122521&) ] \n * 50\\. Butt O.M., Ahmad M.S., Lun T.K., Che H.S., Fayaz H., Abd Rahim N., Koziol K.K.K., Radwan N., Khan M.A., Khan N.A., et al. A comparative study based on performance and techno-economic analysis of different strategies for PV-Electrolyzer (green) hydrogen fueling incinerator system. Waste Manag. 2023;156:1\u201311. doi: 10.1016/j.wasman.2022.11.016. [ [ DOI ](https://doi.org/10.1016/j.wasman.2022.11.016) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/36424243/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=A%20comparative%20study%20based%20on%20performance%20and%20techno-economic%20analysis%20of%20different%20strategies%20for%20PV-Electrolyzer%20\\(green\\)%20hydrogen%20fueling%20incinerator%20system&author=O.M.%20Butt&author=M.S.%20Ahmad&author=T.K.%20Lun&author=H.S.%20Che&author=H.%20Fayaz&volume=156&publication_year=2023&pages=1-11&pmid=36424243&doi=10.1016/j.wasman.2022.11.016&) ] \n * 51\\. Zahedi R., Daneshgar S., Golivari S. Simulation and optimization of electricity generation by waste to energy unit in Tehran. Sustain. Energy Technol. Assess. 2022;53:102338. doi: 10.1016/j.seta.2022.102338. [ [ DOI ](https://doi.org/10.1016/j.seta.2022.102338) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sustain.%20Energy%20Technol.%20Assess.&title=Simulation%20and%20optimization%20of%20electricity%20generation%20by%20waste%20to%20energy%20unit%20in%20Tehran&author=R.%20Zahedi&author=S.%20Daneshgar&author=S.%20Golivari&volume=53&publication_year=2022&pages=102338&doi=10.1016/j.seta.2022.102338&) ] \n * 52\\. Kang Y.O., Yabar H., Mizunoya T., Higano Y. Environmental and economic performances of municipal solid waste management strategies based on LCA method: A case study of kinshasa. Heliyon. 2023;9:e14372. doi: 10.1016/j.heliyon.2023.e14372. [ [ DOI ](https://doi.org/10.1016/j.heliyon.2023.e14372) ] [ [ PMC free article ](/articles/PMC10025032/) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/36950596/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Heliyon&title=Environmental%20and%20economic%20performances%20of%20municipal%20solid%20waste%20management%20strategies%20based%20on%20LCA%20method:%20A%20case%20study%20of%20kinshasa&author=Y.O.%20Kang&author=H.%20Yabar&author=T.%20Mizunoya&author=Y.%20Higano&volume=9&publication_year=2023&pages=e14372&pmid=36950596&doi=10.1016/j.heliyon.2023.e14372&) ] \n * 53\\. Ma Y., Li F.Y., Wang L.M., Wang G. Multidimensional evaluation method and application based on life cycle carbon efficiency considering carbon emission, cost, and function. Environ. Sci. Pollut. R. 2023;30:70918\u201370936. doi: 10.1007/s11356-023-27290-w. [ [ DOI ](https://doi.org/10.1007/s11356-023-27290-w) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/37156949/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Environ.%20Sci.%20Pollut.%20R&title=Multidimensional%20evaluation%20method%20and%20application%20based%20on%20life%20cycle%20carbon%20efficiency%20considering%20carbon%20emission,%20cost,%20and%20function&author=Y.%20Ma&author=F.Y.%20Li&author=L.M.%20Wang&author=G.%20Wang&volume=30&publication_year=2023&pages=70918-70936&pmid=37156949&doi=10.1007/s11356-023-27290-w&) ] \n * 54\\. Ro J.W., Zhang Y.Z., Kendall A. Developing guidelines for waste designation of biofuel feedstocks in carbon footprints and life cycle assessment. Sustain. Prod. Consum. 2023;37:320\u2013330. doi: 10.1016/j.spc.2023.03.009. [ [ DOI ](https://doi.org/10.1016/j.spc.2023.03.009) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sustain.%20Prod.%20Consum.&title=Developing%20guidelines%20for%20waste%20designation%20of%20biofuel%20feedstocks%20in%20carbon%20footprints%20and%20life%20cycle%20assessment&author=J.W.%20Ro&author=Y.Z.%20Zhang&author=A.%20Kendall&volume=37&publication_year=2023&pages=320-330&doi=10.1016/j.spc.2023.03.009&) ] \n * 55\\. Kumar A., Samadder S.R. Assessment of energy recovery potential and analysis of environmental impacts of waste to energy options using life cycle assessment. J. Clean. Prod. 2022;365:132854. doi: 10.1016/j.jclepro.2022.132854. [ [ DOI ](https://doi.org/10.1016/j.jclepro.2022.132854) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Clean.%20Prod.&title=Assessment%20of%20energy%20recovery%20potential%20and%20analysis%20of%20environmental%20impacts%20of%20waste%20to%20energy%20options%20using%20life%20cycle%20assessment&author=A.%20Kumar&author=S.R.%20Samadder&volume=365&publication_year=2022&pages=132854&doi=10.1016/j.jclepro.2022.132854&) ] \n * 56\\. Mulya K.S., Zhou J.Q., Phuang Z.X., Laner D., Woon K.S. A systematic review of life cycle assessment of solid waste management: Methodological trends and prospects. Sci. Total. Environ. 2022;831:154903. doi: 10.1016/j.scitotenv.2022.154903. [ [ DOI ](https://doi.org/10.1016/j.scitotenv.2022.154903) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/35367543/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sci.%20Total.%20Environ.&title=A%20systematic%20review%20of%20life%20cycle%20assessment%20of%20solid%20waste%20management:%20Methodological%20trends%20and%20prospects&author=K.S.%20Mulya&author=J.Q.%20Zhou&author=Z.X.%20Phuang&author=D.%20Laner&author=K.S.%20Woon&volume=831&publication_year=2022&pages=154903&pmid=35367543&doi=10.1016/j.scitotenv.2022.154903&) ] \n * 57\\. Li H.M., Tian Y., Li Z.L., Wu C., Liu Y.L. Life-cycle economic and environmental impacts of municipal solid waste reverse logistics in residential areas. Waste Manag. 2023;164:200\u2013208. doi: 10.1016/j.wasman.2023.04.016. [ [ DOI ](https://doi.org/10.1016/j.wasman.2023.04.016) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/37062200/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=Life-cycle%20economic%20and%20environmental%20impacts%20of%20municipal%20solid%20waste%20reverse%20logistics%20in%20residential%20areas&author=H.M.%20Li&author=Y.%20Tian&author=Z.L.%20Li&author=C.%20Wu&author=Y.L.%20Liu&volume=164&publication_year=2023&pages=200-208&pmid=37062200&doi=10.1016/j.wasman.2023.04.016&) ] \n * 58\\. Tian X., Xie J.L., Xu M., Wang Y.T., Liu Y.B. An infinite life cycle assessment model to re-evaluate resource efficiency and environmental impacts of circular economy systems. Waste Manag. 2022;145:72\u201382. doi: 10.1016/j.wasman.2022.04.035. [ [ DOI ](https://doi.org/10.1016/j.wasman.2022.04.035) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/35525000/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Waste%20Manag.&title=An%20infinite%20life%20cycle%20assessment%20model%20to%20re-evaluate%20resource%20efficiency%20and%20environmental%20impacts%20of%20circular%20economy%20systems&author=X.%20Tian&author=J.L.%20Xie&author=M.%20Xu&author=Y.T.%20Wang&author=Y.B.%20Liu&volume=145&publication_year=2022&pages=72-82&pmid=35525000&doi=10.1016/j.wasman.2022.04.035&) ] \n * 59\\. Zhao X., You F.Q. Life cycle assessment of microplastics reveals their greater environmental hazards than mismanaged polymer waste losses. Environ. Sci. Technol. 2022;56:11780\u201311797. doi: 10.1021/acs.est.2c01549. [ [ DOI ](https://doi.org/10.1021/acs.est.2c01549) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/35920730/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Environ.%20Sci.%20Technol.&title=Life%20cycle%20assessment%20of%20microplastics%20reveals%20their%20greater%20environmental%20hazards%20than%20mismanaged%20polymer%20waste%20losses&author=X.%20Zhao&author=F.Q.%20You&volume=56&publication_year=2022&pages=11780-11797&pmid=35920730&doi=10.1021/acs.est.2c01549&) ] \n * 60\\. Weidema B.P., Pizzol M., Schmidt J., Thoma G. Attributional or consequential Life Cycle Assessment: A matter of social responsibility. J. Clean. Prod. 2018;174:305\u2013314. doi: 10.1016/j.jclepro.2017.10.340. [ [ DOI ](https://doi.org/10.1016/j.jclepro.2017.10.340) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=J.%20Clean.%20Prod.&title=Attributional%20or%20consequential%20Life%20Cycle%20Assessment:%20A%20matter%20of%20social%20responsibility&author=B.P.%20Weidema&author=M.%20Pizzol&author=J.%20Schmidt&author=G.%20Thoma&volume=174&publication_year=2018&pages=305-314&doi=10.1016/j.jclepro.2017.10.340&) ] \n * 61\\. Huijbregts M.A., Steinmann Z.J., Elshout P.M., Stam G., Verones F., Vieira M.D., Zijp M., Hollander A., van Zelm R. ReCiPe 2016: A harmonized life cycle impact assessment method at midpoint and endpoint level Report I: Characterization. Int. J. Life Cycle Assess. 2016;22:138\u2013147. doi: 10.1007/s11367-016-1246-y. [ [ DOI ](https://doi.org/10.1007/s11367-016-1246-y) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Int.%20J.%20Life%20Cycle%20Assess.&title=ReCiPe%202016:%20A%20harmonized%20life%20cycle%20impact%20assessment%20method%20at%20midpoint%20and%20endpoint%20level%20Report%20I:%20Characterization&author=M.A.%20Huijbregts&author=Z.J.%20Steinmann&author=P.M.%20Elshout&author=G.%20Stam&author=F.%20Verones&volume=22&publication_year=2016&pages=138-147&doi=10.1007/s11367-016-1246-y&) ] \n * 62\\. Fu J. Master\u2019s Thesis. Traffic University of East China; Shanghai, China: 2019. Study on Environmental Cost Control Based on Product Lifecycle Method\u2014A Case Study of Jiangxi Copper Group. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?title=Master%E2%80%99s%20Thesis&author=J.%20Fu&publication_year=2019&) ] \n * 63\\. Bianco I., Panepinto D., Zanetti M. Environmental impacts of electricity from incineration and gasification: How the lca approach can affect the results. Sustainability. 2022;14:92. doi: 10.3390/su14010092. [ [ DOI ](https://doi.org/10.3390/su14010092) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Sustainability&title=Environmental%20impacts%20of%20electricity%20from%20incineration%20and%20gasification:%20How%20the%20lca%20approach%20can%20affect%20the%20results&author=I.%20Bianco&author=D.%20Panepinto&author=M.%20Zanetti&volume=14&publication_year=2022&pages=92&doi=10.3390/su14010092&) ] \n * 64\\. Luo Y., Su R. Environmental impact of waste treatment and synchronous hydrogen production: Based on life cycle assessment method. Toxics. 2024;12:652. doi: 10.3390/toxics12090652. [ [ DOI ](https://doi.org/10.3390/toxics12090652) ] [ [ PMC free article ](/articles/PMC11436093/) ] [ [ PubMed ](https://pubmed.ncbi.nlm.nih.gov/39330580/) ] [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Toxics&title=Environmental%20impact%20of%20waste%20treatment%20and%20synchronous%20hydrogen%20production:%20Based%20on%20life%20cycle%20assessment%20method&author=Y.%20Luo&author=R.%20Su&volume=12&publication_year=2024&pages=652&pmid=39330580&doi=10.3390/toxics12090652&) ] \n * 65\\. Fang K.J., Xiong Z.H., Lu M., Guo H.F., Li J.Q. System dynamics model of economic analysis of waste incineration power plant based on LCA. New Energy Prog. 2017;5:365\u2013370. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=New%20Energy%20Prog.&title=System%20dynamics%20model%20of%20economic%20analysis%20of%20waste%20incineration%20power%20plant%20based%20on%20LCA&author=K.J.%20Fang&author=Z.H.%20Xiong&author=M.%20Lu&author=H.F.%20Guo&author=J.Q.%20Li&volume=5&publication_year=2017&pages=365-370&) ] \n * 66\\. Emission Limits and Measurement Methods of Exhaust Pollutants from Diesel Engines for Non-Road Mobile Machinery (3rd and 4th Stages in China) Ministry of Ecology and Environment of the People\u2019s Republic of China; Beijing, China: 2014. p. A4. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?title=Emission%20Limits%20and%20Measurement%20Methods%20of%20Exhaust%20Pollutants%20from%20Diesel%20Engines%20for%20Non-Road%20Mobile%20Machinery%20\\(3rd%20and%204th%20Stages%20in%20China\\)&publication_year=2014&) ] \n * 67\\. Gong D.G., Sun D., Xie M., Mu X.D., Ding W.P. LCA comparison of municipal solid waste incineration and comprehensive treatment modes. Environ. Health Eng. 2008;16:52\u201355. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Environ.%20Health%20Eng.&title=LCA%20comparison%20of%20municipal%20solid%20waste%20incineration%20and%20comprehensive%20treatment%20modes&author=D.G.%20Gong&author=D.%20Sun&author=M.%20Xie&author=X.D.%20Mu&author=W.P.%20Ding&volume=16&publication_year=2008&pages=52-55&) ] \n * 68\\. Hu Z., Tan P., Lou D., Dong Y. Life cycle energy consumption and emission assessment of biodiesel production from different feedstocks. Trans. CSAE. 2006;22:141\u2013146. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Trans.%20CSAE&title=Life%20cycle%20energy%20consumption%20and%20emission%20assessment%20of%20biodiesel%20production%20from%20different%20feedstocks&author=Z.%20Hu&author=P.%20Tan&author=D.%20Lou&author=Y.%20Dong&volume=22&publication_year=2006&pages=141-146&) ] \n * 69\\. Feng C., Ma X.X. Life cycle assessment of straw direct-fired power generation. Acta Energ. Sol. Sin. 2008;29:711\u2013715. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Acta%20Energ.%20Sol.%20Sin.&title=Life%20cycle%20assessment%20of%20straw%20direct-fired%20power%20generation&author=C.%20Feng&author=X.X.%20Ma&volume=29&publication_year=2008&pages=711-715&) ] \n * 70\\. Cui F.H., Shi M., Chen D.Z. Life cycle analysis and comparison of two semi-dry waste incineration flue gas purification processes. Energy Technol. 2007;28:133\u2013136. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Technol.&title=Life%20cycle%20analysis%20and%20comparison%20of%20two%20semi-dry%20waste%20incineration%20flue%20gas%20purification%20processes&author=F.H.%20Cui&author=M.%20Shi&author=D.Z.%20Chen&volume=28&publication_year=2007&pages=133-136&) ] \n * 71\\. Yang W.H., Chu J.F., Wu Z., Meng H.Y., Li X.L. Calculation of carbon emission reduction in waste incineration power generation process based on LCA and CDM methodology. Energy Conserv. 2013;32:4. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Energy%20Conserv.&title=Calculation%20of%20carbon%20emission%20reduction%20in%20waste%20incineration%20power%20generation%20process%20based%20on%20LCA%20and%20CDM%20methodology&author=W.H.%20Yang&author=J.F.%20Chu&author=Z.%20Wu&author=H.Y.%20Meng&author=X.L.%20Li&volume=32&publication_year=2013&pages=4&) ] \n * 72\\. Zhao L.X., Meng H., Shen Y.J., Ding J.T., Zhang X. Investigation and analysis on the current situation and development of planting and breeding circular agriculture in the plain area of northern China. Trans. CSAE. 2017;33:1\u201310. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Trans.%20CSAE&title=Investigation%20and%20analysis%20on%20the%20current%20situation%20and%20development%20of%20planting%20and%20breeding%20circular%20agriculture%20in%20the%20plain%20area%20of%20northern%20China&author=L.X.%20Zhao&author=H.%20Meng&author=Y.J.%20Shen&author=J.T.%20Ding&author=X.%20Zhang&volume=33&publication_year=2017&pages=1-10&) ] \n * 73\\. Wang L., Gao C., Bi Y.Y., Wang Y.J., Wang H.Y., Sun N., Yu J.J. Estimation of greenhouse gas emission reduction in large-scale straw biogas centralized gas supply project. Trans. CSAE. 2017;33:223\u2013228. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Trans.%20CSAE&title=Estimation%20of%20greenhouse%20gas%20emission%20reduction%20in%20large-scale%20straw%20biogas%20centralized%20gas%20supply%20project&author=L.%20Wang&author=C.%20Gao&author=Y.Y.%20Bi&author=Y.J.%20Wang&author=H.Y.%20Wang&volume=33&publication_year=2017&pages=223-228&) ] \n * 74\\. Zhao L., Leng Y., Ren H.X., Li H. Life cycle assessment of large straw biogas centralized gas supply project. Anhui Agric. Sci. 2010;38:19462\u201319464+19495. [ [ Google Scholar ](https://scholar.google.com/scholar_lookup?journal=Anhui%20Agric.%20Sci.&title=Life%20cycle%20assessment%20of%20large%20straw%20biogas%20centralized%20gas%20supply%20project&author=L.%20Zhao&author=Y.%20Leng&author=H.X.%20Ren&author=H.%20Li&volume=38&publication_year=2010&pages=19462-19495&) ] \n\n## Associated Data\n\n_This section collects any data citations, data availability statements, or\nsupplementary materials included in this article._\n\n### Data Availability Statement\n\nData are contained within the article.\n\n* * *\n\nArticles from Toxics are provided here courtesy of **Multidisciplinary Digital\nPublishing Institute (MDPI)**\n\n## ACTIONS\n\n * [ View on publisher site ](https://doi.org/10.3390/toxics12110786)\n * [ PDF (1.3 MB) ](pdf/toxics-12-00786.pdf)\n * * * ## PERMALINK \n\n## RESOURCES\n\n###\n\n###\n\n###\n\n## Cite\n\n * * Download .nbib .nbib \n * \n\n## Add to Collections\n\nFollow NCBI\n\n[ NCBI on X (formerly known as Twitter) ](https://twitter.com/ncbi) [ NCBI on\nFacebook ](https://www.facebook.com/ncbi.nlm) [ NCBI on LinkedIn\n](https://www.linkedin.com/company/ncbinlm) [ NCBI on GitHub\n](https://github.com/ncbi) [ NCBI RSS feed\n](https://ncbiinsights.ncbi.nlm.nih.gov/)\n\nConnect with NLM\n\n[ NLM on X (formerly known as Twitter) ](https://twitter.com/nlm_nih) [ NLM\non Facebook ](https://www.facebook.com/nationallibraryofmedicine) [ NLM on\nYouTube ](https://www.youtube.com/user/NLMNIH)\n\n[ National Library of Medicine \n8600 Rockville Pike \nBethesda, MD 20894\n](https://www.google.com/maps/place/8600+Rockville+Pike,+Bethesda,+MD+20894/%4038.9959508,\n\n -77.101021,17z/data%3D!3m1!4b1!4m5!3m4!1s0x89b7c95e25765ddb%3A0x19156f88b27635b8!8m2!3d38.9959508!\n 4d-77.0988323)\n\n * [ Web Policies ](https://www.nlm.nih.gov/web_policies.html)\n * [ FOIA ](https://www.nih.gov/institutes-nih/nih-office-director/office-communications-public-liaison/freedom-information-act-office)\n * [ HHS Vulnerability Disclosure ](https://www.hhs.gov/vulnerability-disclosure-policy/index.html)\n\n * [ Help ](https://support.nlm.nih.gov/)\n * [ Accessibility ](https://www.nlm.nih.gov/accessibility.html)\n * [ Careers ](https://www.nlm.nih.gov/careers/careers.html)\n\n * [ NLM ](https://www.nlm.nih.gov/)\n * [ NIH ](https://www.nih.gov/)\n * [ HHS ](https://www.hhs.gov/)\n * [ USA.gov ](https://www.usa.gov/)\n\n",
"url": "https://pmc.ncbi.nlm.nih.gov/articles/PMC11597989/"
},
"reason": "This is a scientific article from PubMed Central. While it may not directly mention Cronos Group's waste management or water consumption, research on cannabis cultivation practices is relevant to the broader topic.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Scientific article related to cannabis cultivation practices.",
"url": "https://pmc.ncbi.nlm.nih.gov/articles/PMC11597989/"
},
{
"content": {
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
},
"page_content": "# Cannabis Market\n\n7500+ companies worldwide approach us every year for their revenue growth\ninitiatives\n\nGlobal top 2000 strategist rely on us for their growth strategies.\n\n80% of fortune 2000 companies rely on our research to identify new revenue\nsources.\n\n30000 High Growth Opportunities\n\n95% renewal rate\n\n[ KNOW MORE __ ](/Knowledgestore.asp#request_free_trial)\n\n 1. [ HOME ](/ \"Market Research Firm\")\n 2. [ Food and Beverage ](https://www.marketsandmarkets.com/food-and-beverages-market-research-6.html)\n 3. Cannabis Market \n\n## Cannabis Market Size, Share, Trends Analysis Report, By Product Type\n(Flowers, Concentrates, Edibles, Topicals & Tinctures), By Compound (THC-\nDominant, CBD-Dominant, and Balanced THC & CBD), By Application (Medical and\nRecreational), and By Region (North America, South America, Europe and RoW) -\nIndustry Forecast - 2027\n\n[ __ FREE BROCHURE ](/pdfdownloadNew.asp?id=201768301) [ __ FREE SAMPLE REPORT\n](/requestsampleNew.asp?id=201768301)\n\nReport Code: FB 6762 Aug, 2022, by marketsandmarkets.com\n\n[ ](/Purchase/purchase_reportNew.asp?id=201768301) [ Inquiry Before Buying\n](/Enquiry_Before_BuyingNew.asp?id=201768301)\n\n * Description \n * TABLE OF Contents \n * METHODOLOGY \n * __ Download PDF \n\n## Cannabis Market Size, Share and Overview\n\n**From 2022 to 2027, the industrial cannabis market size is expected to rise\nat a remarkable compound annual growth rate (CAGR) of 24.3%. This rising trend\nis expected to boost market value from $27.7 billion in 2022 to $82.3 billion\nby the end of 2027.**\n\nBoth medical and recreational cannabis industry, is currently in the center of\nwhirl of legalization globally. The North American region dominated the global\nmarket, owing to the growing legalization trends in most of the states in the\nUS and the increase in usage of cannabis for recreational purposes.\nFurthermore, growing medical applications in cannabis, rising social\nacceptance of cannabis, introduction of new technologies, and increase in R&D\nand technological innovation are expected to drive the global market for\ncannabis in the forecasted period.\n\nTo know about the assumptions considered for the study, [ **Request for Free\nSample Report**\n](https://www.marketsandmarkets.com/requestsampleNew.asp?id=201768301)\n\n## Cannabis Industry Growth Dynamics\n\n### Drivers: Growth in Research & Development activities and technological\ninnovation\n\nAs the cultivation and consumption of cannabis are growing rapidly in many\ncountries across the globe, technological innovation is also getting\nrestructured for the efficient development of cannabis-based products. As more\ncountries are seeking to legalize the medical use of cannabis, technological\ninvolvement is also becoming a crucial part of the development of cannabis.\nTraditionally, cannabis growers were mainly focused on minimal processing of\nthe plant. However, due to technological innovations, growers are now focusing\non manufacturing edibles, capsules, oils for vaping, and gummies.\n\nAdditionally, technologies like artificial intelligence, and genetic\nengineering are revolutionizing the cannabis industry for the good. Artificial\nIntelligence is big splash in the cannabis industry. With AI, growers can\noptimize for environmental changes and even manipulate the strains of the\nproduct. They can also adapt to the desired CBD level and change the genetic\nmakeup of the plants to produce the types of strains that sell best. AI also\naids in the efficient and timely delivery of crops. Many startups are\nexploring how they can use this technology to improve their ability to ship\nproduct across the country. Eaze, a California-based company, uses technology\nto provide cannabis deliveries via an app. They assist medical marijuana\nretailers in forecasting supply and demand and changing inventory and delivery\nbased on the information by leveraging user data. Cannabase, another company,\nuses analytics to help businesses anticipate cannabis industry trends, price\nchanges, and volume fluctuations. Prices in the cannabis industry are likely\nto fall as competition grows, making it more important than ever for\nbusinesses to use big data to gain insight into competitors, choose the right\nsales techniques, and target the right markets. Moreover, genetic engineering\nis also making its way in the industry. One such example can be of CanBreed\nwhich is performing Crispr editing to develop seeds.\n\n### Restraints: Problems associated with high-dose cannabis consumption\n\nLegalizing cannabis has advantages in terms of expanding employment\nopportunities and generating more tax revenue, but it also raises the risk of\ncannabis overdose. Anxiety or panic attacks are some of the short-term side\neffects of overdosing, while heart arrhythmia and mental health issues are\nlong-term side effects. Cannabis poisoning, or temporary negative effects from\nconsuming too much cannabis at once, is also a possibility.\n\nAs different forms of cannabis are available such as capsules, oils, a range\nof different edibles and vaporizers. The edibles may pose greater risk of\noverdose as it takes time to show effects, which increases chances of\naccidentally consumption of high dose of such edibles. Also dabbing is also\nknown to possess serious heath implication when overdone. Due to these\nnegative health effects many countries are not legalizing cannabis and hence\naffecting overall cannabis industry growth.\n\n### Opportunities: Cannabis infused edibles offer better opportunities for\nthe market growth\n\nRobust growth in the global demand for cannabis has further propelled the need\nto develop better. This need has, in turn, led to several companies coming up\nwith R&D, which extensively looks into several genetic improvement strategies\nfor cannabis. One of the biggest opportunities for manufacturers is to produce\nlow-dosage edible product, for consumers who want medical cannabis without\npsychoactive effects. In addition, low-dose edibles are a perfect product line\nto attract new consumers into the cannabis market since micro-dosing allows\nthem to have control recreational consumption.\n\nThe healing benefits of cannabidiol (CBD) make it more lucrative for demand\nfor both health and wellness objectives, and it is a significant driver\ndriving cannabis market expansion. The CBD sector is rapidly evolving, as are\nCBD-infused edibles. The increased social acceptance of cannabis is driving\nthe rise of the cannabis-infused consumable products market. The growing\npopularity of recreational marijuana has given rise to CBD-infused products\nlike confectionary and bakery products. CBD oil in the edible form is in high\ndemand. CBD oil users expect sophisticated, discrete, and appealing methods of\nconsuming their CBD supplements, creating a plethora of options to sell CBD\nedibles in a variety of formats such as beverage, gummies and chocolate.\nDespite the fact that there are a lot of established players in the field,\nthere is still plenty of room for smaller enterprises to establish a firm\nfoothold. In 2018, LDN CBD, for example, created the UK's first CBD oil\nedibles and related items business.\n\n### Challenges: Intensive water consumption during cultivation of cannabis\n\nEnergy and consistency play a vital role in the cultivation of cannabis\nplants. Cannabis is one of the major energy-intensive crops grown in most\nstates in the US and other parts of the world. A huge amount of water and\nlight is required, along with specialized climate-control equipment for indoor\nand outdoor growing of plant to maximize the output. The huge water demand\nleads to water pollution and diversion, which could negatively impact the\necosystem. It could also directly contribute to soil erosion. However,\ncannabis plants have the ability to absorb as well as store heavy metals.\nEnergy cost can add up to 50% of the wholesale price, and this percentage is\nexpected to grow higher, owing to the continuous declining of cannabis prices.\nTo overcome these challenges, Israel focused on innovative farming techniques\nthat could reduce energy inputs also technologies such as precision irrigation\ncan reduce water consumption, and application of tools such as life cycle\nanalysis could advance the understanding of environmental impacts of cannabis\ncultivation.\n\nOutdoor cultivation of cannabis is the original method of cultivation.\nAlthough with low costs, improper soil, water resources management and [ pest\ncontrol ](https://www.marketsandmarkets.com/Market-Reports/pest-control-\nmarket-144665518.html) may induce critical environmental issues. On the\ncontrary, indoor cultivation (including greenhouse cultivation) enables full\ncontrol over all these aspects, such as light and temperature, but is\nconstrained by higher costs, energy demand, and associated environmental\nimplications. The consistency of cannabis products plays a vital role in the\nproduction of medical applications. It is very challenging for the growers to\ngrow large numbers of plants with the same composition. This is majorly\nrequired by the doctors for prescribing a dosage of specific cannabinoid, and\nneed a consistent, reliable product. Furthermore, testing of cannabis also\nposes challenges for cannabis growers. The plant should be rigorously tested\nto determine the quantity of THC and CBD compound present in the plant\nrequired for medical applications. To overcome this challenge portable and\nremote testing system is expected to gain an important edge in the cannabis\nindustry trends.\n\n## Cannabis Industry Highlights\n\n * **Legalization trend:** The legalization of cannabis for both medical and recreational purposes is a major cannabis industry trends, leading to its growth and expansion. \n * **Dominance of North America:** North America is the largest market for cannabis due to the legalization of cannabis in several states in the US and the high demand for recreational cannabis. \n * **Medical applications:** The increasing use of cannabis for medical purposes, such as in the treatment of various conditions such as chronic pain, anxiety, and epilepsy, is a significant factor driving the growth of the market. \n * **Social acceptance:** The growing social acceptance of cannabis is another important factor that is contributing to the growth of the market. \n * **Technological advancements:** The introduction of new technologies in the cannabis industry, such as cultivation techniques and extraction methods, is leading to increased efficiency and competitiveness in the market. \n * **Research and development:** The increasing focus on research and development in the cannabis industry growth is resulting in the development of new products and applications, which is driving the growth of the market. \n\n## Cannabis Market Report Scope\n\n**Report Criterion** | **Details** \n---|--- \n**Cannabis Market Value in 2021** | **US $22.5 billion** \n**Market size value in 2022** | **US $27.7 billion** \n**Projected Market Value in 2027** | **US $82.3 billion** \n**Forecast period considered** | **2022\u20132027** \n**Value-based CAGR (2022-2027)** | **24.3%** \n**Growing Demand** | **Medical and Recreational Cannabis** \nUnits considered | Value (USD), Volume (TONS) \nSegments covered | \n\n * Product Type \n * Application \n * Compound \n * Region \n\n \nRegions covered | \n\n * North America \n * South America \n * Europe \n * RoW \n\n \nCompanies studied | \n\n * Canopy Growth Corporation (Canada) \n * Aurora Cannabis Inc. (Canada) \n * Medmen Enterprise Inc. (US) \n * Tilary Inc. (US) \n * Unrivaled Brand Inc. (US) \n * VIVO Cannabis Inc. (Canada) \n * The Cronos Group (Canada) \n * Medical Marijuana Inc. (US) \n * Stenocare (Denmark) \n * Trulieve (US) \n\n \n \n## Category wise Insights\n\nIn the Subsequent Years, the Increased Popularity of Edibles will help in the\nGrowth of the Cannabis Business. Cannabis edibles are cannabis-infused food or\ndrink products that have a longer, more intense effect than other cannabis\nproducts. Cannabis edibles go through a careful process when being created for\nconsumption. To help promote the safe use of the product, the level of THC in\nthe product must be at a safe level. For example, THC is infused into either\ncanna-butter or canna-oil when the baked products are made. Canna-butter can\nbe used in place of regular butter, and canna-oil can be combined with any\nother cooking oil.\n\nConsumers, globally, are increasingly looking at adopting cannabis-infused\nproducts, which have been further driving food & beverage manufacturers to\nventure into the category. A cannabis-infused beverage is a type of THC and/or\nCBD-infused product that is becoming increasingly popular. They come in a\nvariety of types, including coffee, [ kombucha\n](https://www.marketsandmarkets.com/Market-Reports/kombucha-\nmarket-211406364.html) , soft drinks, non-alcoholic beer and wine, and more,\nalso they're easier to consume in a social setting. Molson Coors (US) has\nformed a joint venture with HEXO Corp (Canada), named Truss Beverages, to\nexplore non-alcoholic cannabis infused beverages for the Canadian market.\nCanopy Growth Corporation (Canada), one of the leading cannabis brands in\nCanada, offers cannabis-infused beverage products through its brand, Tweed.\nAccording to the company, cannabis-infused chocolates are most popular in this\ncategory of products and demanded by the consumers. These market advancements\nare further expected to boost the cannabis industry growth for this segment\nduring the forecast period.\n\n### Vapes are Becoming Increasingly Popular Among Marijuana Customers\n\nVapes are becoming increasingly popular among marijuana customers in the\nUnited States who are looking for more potent goods. For Medmen Enterprises\nInc., headquartered in United States, vapes were the second-largest revenue\ncategory after flower. Vapor pen in the vapes category is a popular choice\namong consumers. The great bulk of vapor pen sales were made up of cartridges.\nFurthermore, disposable vapes are becoming increasingly popular as users seek\nout discreet and convenient solutions. Rising customer demand occurs despite\nenvironmental concerns, as disposable Vapes are an environmental concern, yet\nproducers are producing them due to increased demand. Despite their\npopularity, vapes contribute significantly to the market's non-hazardous waste\nproblems. Some companies and governments have taken note, and in July 2022,\nFernway (US), Massachusetts' best-selling legal cannabis vape brand, launched\nthe Fernway Recycling Program, a first-of-its-kind green initiative. The\nFernway Recycling Program is the first cannabis vape hardware recycling\nprogram in Massachusetts. Customers who purchase a Fernway Traveler from a\nlicensed dispensary can return it to the store and through its collaboration\nwith GAIACA (US), a fully licensed, compliant cannabis waste management\ncompany, the company then coordinates the retrieval and recycling of empty\nTravelers.\n\n## Regional Insights\n\nThe North American Cannabis Market is Primarily Driven by Growth in the US and\nCanadian Markets. The year 2020 was year of opportunities and several\nchallenges for North American cannabis industry. The US vape crisis which\nleads to ban and defamation of vape products in some states of US and Canada.\nIn February 18, 2020, 2,807 individuals were hospitalized due to vaping\nproduct use-associated lung injury (EVALI) from 50 states, the District of\nColumbia, and two U.S. territories (Puerto Rico and U.S. Virgin Islands).\nCannabis 2.0 was launched to bring a wave of growth in the industry but due to\nsome technical issues with products and lack of consumers demand at that time,\nit started slow. During COVID-19 lockdown there was growth in sales of\ncannabis as consumer purchased it to treat their anxiety and boredom.\n\nThe US is the largest cannabis market in North America. The market has been\nwitnessing legalization for both medical and recreational cannabis in several\nUS states. As of 2022, 37 states and district of Columbia have approved the\nlegal use of medical cannabis, whereas 21 have legalized the recreational or\nadult use of cannabis. This is majorly due to the growing awareness among\nconsumers about the medical benefits of cannabis and a general perception of\nit being safer than alcohol. With the increasing number of states legalizing\ncannabis, it is creating several opportunities for the players operating in\nmarket. With the growth of mega-mergers, high-value investments, and sales,\nthe industry continues to mature. Tilray (is a global pharmaceutical,\ncannabis-lifestyle and consumer packaged goods company) purchased Aphria (it\nis an international producer and distributor of medicinal and recreational\ncannabis) with USD 2.4 billion in April. Trulieve (it is a vertically\nintegrated cannabis company) USD 2.3 billion acquired Harvest Health and\nRecreation (it operates as a medical cannabis company) in October. Several\npetition drives and legislative efforts for medical marijuana programs are\nalso underway in states such as Kansas, Nebraska, North Carolina and South\nCarolina.\n\nTo know about the assumptions considered for the study, [ **download the pdf\nbrochure**\n](https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201768301)\n\n## Key Companies in the Cannabis Industry\n\nKey players in cannabis market include Canopy Growth Corporation (Canada),\nAurora Cannabis Inc. (Canada), VIVO Cannabis Inc. (Canada), Tilary Inc. (US),\nUnrivaled Brand Inc. (US), HEXO Corp. (Canada), Medical Marijuana Inc. (US),\nThe Cronos Group (Canada), Medmen Enterprise Inc. (US), Cresco Labs (US),\nCuraleaf Holdings Inc. (US), Organigram Holdings Inc. (Canada), Stenocare\n(Denmark), Trulieve (US), and Indiva (Canada).\n\n## Target Audience:\n\n * Cannabis growers \n * Cannabis product manufacturers \n * Cannabis importers and exporters \n * Cannabis traders, distributors, and suppliers \n * Government and research organizations \n * Associations, regulatory bodies, and other industry-related bodies: \n * Food and Drug Administration (FDA) \n * United States Department of Agriculture (USDA) \n * Federal Institute for Drugs and Medical Devices or Bundesinstitut f\u00fcr Arzneimittel und Medizinprodukte (BfArM) \n * Bureau for Medicinal Cannabis (BMC) \n * Health Canada \n * Federal Commission for the Protection against Sanitary Risks (COFEPRIS) \n * National Cannabis Industry Association (NCIA) \n * The European Medicinal Cannabis Association (EUMCA) \n * The National Association of Cannabis Businesses (NACB) \n * California Cannabis Industry Association \n * Australian Medical Cannabis Association \n * Israel Cannabis Association (ICA) \n\n## Cannabis Market Report Segmentation\n\nThis research report categorizes the market based on product type,\napplication, compound, and region\n\n**Segment** | **Subsegment** \n---|--- \n**Market By Product Type** | \n\n * Flowers \n * Concentrates \n * Edibles \n * Topicals and Tinctures \n * Other Product Type \n\n \n**Market By Application** | \n\n * Medical \n * Recreational \n\n \n**Market By Compound** | \n\n * Tetrahydrocannabinol (THC)-dominant \n * Cannabidiol (CBD)-dominant \n * Balanced THC & CBD \n\n \n**Market By Region** | \n\n * North America \n * South America \n * Europe \n * Rest of the World (RoW) \n\n \n \n## Frequently Asked Questions (FAQ):\n\nIs marijuana medicine?\n\nThe marijuana plant has compounds that may help symptoms for some health\nproblems. While more states are making it legal to use the plant as medicine\nfor certain conditions, scientists are still learning the ways that marijuana\nmay help or harm people. Research on the medical use of marijuana is still in\nearly stages, and much remains unknown about the plant and how it interacts\nwith the body.\n\nHow big is the Cannabis Market?\n\nIn 2022, the market value stood at $27.7 billion and is anticipated to\nincrease up to $82.3 billion by 2027.\n\nWhat is growth rate of the Cannabis Market?\n\nThe global Cannabis Market is registering a growth rate CAGR of 24.3% from\n2022 to 2027.\n\nWhat are the key trends affecting the global cannabis market?\n\n * Legalization Trends \n * Social Acceptance \n * Technological Advancements \n * Medical Applications \n\nWho are the key players in Cannabis Industry?\n\nAurora Cannabis Inc. (Canada), VIVO Cannabis Inc. (Canada), Tilary Inc. (US),\nUnrivaled Brand Inc. (US), HEXO Corp. (Canada)\n\nWho will be the leading hub for industrial cannabis market?\n\nNorth America has emerged as a leading hub for industrial cannabis market,\nwith significant developments and applications.\n\nWhat are the key opportunities in the global cannabis market?\n\nHigh demand and progressive policy reforms will ensure the cannabis industry\ngrowth .\n\nTo speak to our analyst for a discussion on the above findings, click [\n**Speak to Analyst**\n](https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=201768301)\n\n**Exclusive indicates content/data unique to MarketsandMarkets and not\navailable with any competitors.**\n\n**TABLE OF CONTENTS**\n\n**1 INTRODUCTION (Page No. - 36)** \n1.1 STUDY OBJECTIVES \n1.2 CANNABIS MARKET DEFINITION \n1.3 STUDY SCOPE \nFIGURE 1 MARKET SEGMENTATION \n1.3.1 INCLUSIONS AND EXCLUSIONS \n1.3.2 REGIONS COVERED \n1.3.3 YEARS CONSIDERED \n1.4 CURRENCY CONSIDERED \nTABLE 1 USD EXCHANGE RATES CONSIDERED, 2017\u20132021 \n1.5 STAKEHOLDERS \n1.6 SUMMARY OF CHANGES\n\n**2 RESEARCH METHODOLOGY (Page No. - 41)** \n2.1 RESEARCH DATA \nFIGURE 2 MARKET: RESEARCH DESIGN \n2.1.1 SECONDARY DATA \n2.1.1.1 Key data from secondary sources \n2.1.2 PRIMARY DATA \n2.1.2.1 Key data from primary sources \n2.1.2.2 Key industry insights \n2.1.2.3 Breakdown of primary interviews \nFIGURE 3 BREAKDOWN OF PRIMARY INTERVIEWS BY COMPANY TYPE, DESIGNATION, AND\nREGION \n2.2 CANNABIS MARKET SIZE ESTIMATION \nFIGURE 4 MARKET ESTIMATION, BY TYPE (SUPPLY-SIDE) \nFIGURE 5 MARKET ESTIMATION (DEMAND-SIDE) \n2.2.1 MARKET ESTIMATION: BOTTOM-UP APPROACH \nFIGURE 6 MARKET ESTIMATION: BOTTOM-UP APPROACH \n2.2.2 MARKET ESTIMATION METHODOLOGY: TOP-DOWN APPROACH \nFIGURE 7 MARKET ESTIMATION: TOP-DOWN APPROACH \n2.3 DATA TRIANGULATION \nFIGURE 8 DATA TRIANGULATION \n2.4 ASSUMPTIONS \n2.5 RESEARCH LIMITATIONS AND ASSOCIATED RISKS\n\n**3 EXECUTIVE SUMMARY (Page No. - 52)** \nTABLE 2 CANNABIS MARKET SHARE SNAPSHOT, 2022 VS. 2027 (USD MILLION) \nFIGURE 9 MARKET, BY APPLICATION, 2022 VS. 2027 (USD MILLION) \nFIGURE 10 MARKET, BY PRODUCT TYPE, 2022 VS. 2027 (USD MILLION) \nFIGURE 11 GLOBAL CANNABIS MARKET SIZE, BY COMPOUND, 2022 VS. 2027 (USD\nMILLION) \nFIGURE 12 MARKET SHARE AND GROWTH RATE (VALUE), BY REGION, 2021\n\n**4 PREMIUM INSIGHTS (Page No. - 56)** \n4.1 ATTRACTIVE OPPORTUNITIES IN MARKET \nFIGURE 13 GROWING MEDICINAL APPLICATIONS AND INCREASING LEGALIZATION OF\nCANNABIS CREATE OPPORTUNITIES IN MARKET \n4.2 MARKET: MAJOR REGIONAL SUBMARKETS \nFIGURE 14 NORTH AMERICA ACCOUNTED FOR LARGEST SHARE GLOBALLY IN 2021 \n4.3 NORTH AMERICA: S MARKET, BY COMPOUND AND COUNTRY \nFIGURE 15 IN 2021, US ACCOUNTED FOR LARGEST SHARE IN NORTH AMERICA \n4.4 MARKET, BY APPLICATION \nFIGURE 16 RECREATIONAL SEGMENT TO DOMINATE MARKET DURING FORECAST PERIOD \n4.5 MARKET, BY COMPOUND \nFIGURE 17 TETRAHYDROCANNABINOL (THC)-DOMINANT COMPOUND TO DOMINATE MARKET\nDURING FORECAST PERIOD \n4.6 MARKET, BY PRODUCT TYPE AND REGION \nFIGURE 18 NORTH AMERICA TO DOMINATE MARKET DURING FORECAST PERIOD\n\n**5 MARKET OVERVIEW (Page No. - 59)** \n5.1 INTRODUCTION \n5.2 MACROECONOMIC INDICATORS \n5.2.1 INCREASE IN AGING POPULATION \nFIGURE 19 INCREASING POPULATION OF INDIVIDUALS AGED 60 AND ABOVE (2021\u20132021) \n5.2.2 ECONOMIC DOWNTURN \nFIGURE 20 UNEMPLOYMENT AS A PERCENTAGE OF TOTAL LABOR FORCE (2010\u20132021) \n5.3 MARKET DYNAMICS \nFIGURE 21 CANNABIS MARKET DYNAMICS \n5.3.1 DRIVERS \n5.3.1.1 Rising MARKET demand for medicinal applications \n5.3.1.2 Legalization of cannabis and rise in social acceptance \nFIGURE 22 GLOBAL MARKET REGULATORY OVERVIEW INDICATING LEGALITY OF MEDICAL\nRECREATIONAL CANNABIS, 2020 \n5.3.1.3 Growth in R&D activities and technological advancements to be\nprecursors for cannabis business \n5.3.1.4 Rising global cannabis sales helping online retailers expand \n5.3.2 RESTRAINTS \n5.3.2.1 Complex regulatory structure for use of cannabis \n5.3.2.2 Problems associated with high dose of cannabis consumption \n5.3.2.3 Stigmatization of the market \n5.3.2.4 Profit margins of manufacturers shrinks as MARKET prices fall \nFIGURE 23 AVERAGE SELLING PRICES OF CANNABIS, 2019\u20132022 \n5.3.3 OPPORTUNITIES \n5.3.3.1 Emergence of CANNABIS MARKET legalization in Asia Pacific \n5.3.3.2 Edibles, led by gummies and chocolates, to present additional growth\nopportunities for cannabis business \n5.3.3.3 Inorganic growth strategies adopted by US cannabis companies \n5.3.4 CHALLENGES \n5.3.4.1 Intensive water consumption and inability to maintain consistency\nduring cannabis cultivation \n5.3.4.2 Cannabis-producing businesses face financing difficulties in US \n5.3.4.3 Advertising and marketing restrictions in US \n5.3.4.4 Supply chain challenges associated with cannabis in US\n\n**6 INDUSTRY TRENDS (Page No. - 73)** \n6.1 INTRODUCTION \n6.2 VALUE CHAIN \n6.2.1 RESEARCH AND PRODUCT DEVELOPMENT \n6.2.2 RAW MATERIAL SOURCING \n6.2.3 PRODUCTION \n6.2.4 PACKAGING, STORAGE, AND DISTRIBUTION \n6.2.5 RETAIL \nFIGURE 24 CANNABIS MARKET: VALUE CHAIN \n6.3 SUPPLY CHAIN ANALYSIS \nFIGURE 25 MARKET: SUPPLY CHAIN \n6.4 TRENDS/DISRUPTIONS IMPACTING CUSTOMERS\u2019 BUSINESSES \n6.4.1 REVENUE SHIFT AND NEW REVENUE POCKETS IN MARKET \nFIGURE 26 REVENUE SHIFT IMPACTING MARKET \n6.5 MARKET MAPPING AND ECOSYSTEM \n6.5.1 DEMAND-SIDE \n6.5.2 SUPPLY-SIDE \nFIGURE 27 MARKET ECOSYSTEM MAP \n6.5.3 ECOSYSTEM MAP \nTABLE 3 MARKET: ECOSYSTEM \n6.6 TECHNOLOGY ANALYSIS \n6.6.1 LED GLOW LIGHT \n6.6.2 NANOENCAPSULATION \n6.6.3 ARTIFICIAL INTELLIGENCE AND BLOCKCHAIN \nFIGURE 28 PROCESSES TRACKED BY USING SEED-TO-SALE TRACKER \n6.6.4 CROP STEERING \n6.6.5 VERTICAL FARMING \n6.6.6 INNOVATIVE HARDWARE TECH DEVICES \n6.6.7 IOT AUTOMATION \n6.6.8 GENETIC ENGINEERING \n6.7 PRICING ANALYSIS \n6.7.1 SELLING PRICES CHARGED BY KEY PLAYERS IN TERMS OF PRODUCT TYPE \nFIGURE 29 SELLING PRICES OF KEY PLAYERS FOR CANNABIS MARKET PRODUCT TYPE \nTABLE 4 SELLING PRICE OF KEY PLAYERS FOR PRODUCT TYPE \nFIGURE 30 AVERAGE SELLING PRICE IN KEY REGIONS, BY PRODUCT TYPE, 2018\u20132021\n(USD/KG) \nTABLE 5 FLOWER: AVERAGE SELLING PRICE, BY REGION, 2018\u20132021 (USD/KG) \nTABLE 6 CONCENTRATES: AVERAGE SELLING PRICE, BY REGION, 2018\u20132021 (USD/KG) \nTABLE 7 EDIBLES: AVERAGE SELLING PRICE, BY REGION, 2018\u20132021 (USD/KG) \nTABLE 8 TOPICALS & TINCTURES: AVERAGE SELLING PRICE, BY REGION, 2018\u20132021\n(USD/KG) \nTABLE 9 OTHER PRODUCT TYPES: AVERAGE SELLING PRICE, BY REGION, 2018\u20132021\n(USD/KG) \n6.8 CANNABIS MARKET: PATENT ANALYSIS \nFIGURE 31 NUMBER OF PATENTS GRANTED FOR THE MARKET, 2011\u20132021 \nFIGURE 32 TOP PATENT APPLICANTS FOR THE MARKET, 2019\u20132022 \nFIGURE 33 REGIONAL ANALYSIS OF PATENTS GRANTED FOR MARKET, 2019\u20132022 \n6.8.1 LIST OF MAJOR PATENTS \nTABLE 10 LIST OF A FEW PATENTS IN THE MARKET, 2019\u20132022 \n6.9 TRADE ANALYSIS: MARKET \n6.9.1 EXPORT SCENARIO OF HEMP \nFIGURE 34 HEMP EXPORT, BY KEY COUNTRY, 2017\u20132021 (USD THOUSAND) \nTABLE 11 EXPORT DATA OF HEMP FOR KEY COUNTRIES, 2021 (VALUE AND VOLUME) \n6.9.2 IMPORT SCENARIO OF HEMP \nFIGURE 35 HEMP IMPORT, BY KEY COUNTRY, 2017\u20132021 (USD THOUSAND) \nTABLE 12 IMPORT DATA OF HEMP FOR KEY COUNTRIES, 2021 (VALUE AND VOLUME) \n6.10 CASE STUDIES: MARKET \n6.10.1 FILTER420: ATTEMPTS TO BUILD BRAND VALUE \n6.10.2 ONYX AGRONOMICS: PRECISION CANNABIS FACILITY \n6.11 KEY CONFERENCES AND EVENTS, 2022\u20132023 \nTABLE 13 KEY CONFERENCES AND EVENTS IN THE CANNABIS MARKET GROWTH \n6.12 TARIFF AND REGULATORY LANDSCAPE \n6.12.1 REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER ORGANIZATIONS \nTABLE 14 NORTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND\nOTHER ORGANIZATIONS \nTABLE 15 EUROPE: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND OTHER\nORGANIZATIONS \nTABLE 16 SOUTH AMERICA: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES, AND\nOTHER ORGANIZATIONS \nTABLE 17 REST OF THE WORLD: LIST OF REGULATORY BODIES, GOVERNMENT AGENCIES,\nAND OTHER ORGANIZATIONS \n6.12.2 REGULATORY FRAMEWORK \nFIGURE 36 GLOBAL MARKET REGULATORY OVERVIEW INDICATING LEGALITY OF MEDICAL\nRECREATIONAL CANNABIS, 2022 \n6.12.2.1 North America \nFIGURE 37 US CANNABIS REGULATORY OVERVIEW, 2022 \n6.12.2.1.1 US \n6.12.2.1.1.1 Alaska-legalization measure approved in November 2014 \n6.12.2.1.1.2 Arizona-legalization measure approved in November 2020 \n6.12.2.1.1.3 California-legalization measure approved in November 2016 \n6.12.2.1.1.4 Colorado-legalization measure approved in November 2012 \n6.12.2.1.1.5 Connecticut-legalization measure approved in June 2021 \n6.12.2.1.1.6 Guam-legalization measure approved in April 2019 \n6.12.2.1.1.7 Illinois-legalization measure approved in May 2019 \n6.12.2.1.1.8 Maine-legalization measure approved in November 2016 \n6.12.2.1.1.9 Massachusetts-legalization measure approved in November 2016 \n6.12.2.1.1.10 Michigan-legalization measure approved in November 2018 \n6.12.2.1.1.11 Montana-legalization measure approved in January 2021 \n6.12.2.1.1.12 New Jersey-legalization measure approved in November 2020 \n6.12.2.1.1.13 New Mexico- legalization measure approved in April 2021 \n6.12.2.1.1.14 New York-legalization measure approved in March 2021 \n6.12.2.1.1.15 Oregon-legalization measure approved in November 2014 \n6.12.2.1.1.16 Rhode Island-legalization measure approved in May 2022 \n6.12.2.1.1.17 Vermont-legalization measure approved in January 2018 \n6.12.2.1.1.18 Virginia-legalization measure approved in April 2021 \n6.12.2.1.1.19 Washington-legalization measure approved in November 2012 \n6.12.2.1.2 Canada \n6.12.2.2 Europe \n6.12.2.2.1 German-legalization measure approved in 2017 \n6.12.2.2.2 Italy-legalization measure approved in 2014 \n6.12.2.2.3 Denmark-legalization measure approved in January 2018 \n6.12.2.2.4 Malta-legalization measure approved in January 2018 \n6.12.2.2.5 Netherlands-legalization measure approved in January 2013 \n6.12.2.2.6 France-legalization measure approved in March 2022 \n6.12.2.2.7 Switzerland \n6.12.2.2.8 UK \n6.12.2.2.9 Belgium \n6.12.2.2.10 Poland \n6.12.2.2.11 Czech Republic \n6.12.2.2.12 Spain \n6.12.2.2.13 Austria \n6.12.2.2.14 Norway \n6.12.2.2.15 Finland \n6.12.2.2.16 Croatia \n6.12.2.3 South America \n6.12.2.3.1 Chile-legalization measure approved in 2015 \n6.12.2.3.2 Colombia-legalization measure approved in 2015 \n6.12.2.3.3 Uruguay-legalization measure approved in December 2013 \n6.12.2.4 Rest of the world \n6.12.2.4.1 Israel-legalization measure approved in December 2018 \n6.12.2.4.2 Australia-legalization measure approved in February 2016 \n6.12.2.4.3 Thailand \n6.12.2.4.4 South Korea \n6.12.2.4.5 Malaysia \n6.12.2.4.6 South Africa \n6.13 PORTER\u2019S FIVE FORCES ANALYSIS \nTABLE 18 CANNABIS MARKET REPORT: PORTER\u2019S FIVE FORCES ANALYSIS \n6.13.1 DEGREE OF COMPETITION \n6.13.2 BARGAINING POWER OF SUPPLIERS \n6.13.3 BARGAINING POWER OF BUYERS \n6.13.4 THREAT OF SUBSTITUTES \n6.13.5 THREAT OF NEW ENTRANTS \n6.14 KEY STAKEHOLDERS AND BUYING CRITERIA \n6.14.1 KEY STAKEHOLDERS IN BUYING PROCESS \nFIGURE 38 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP APPLICATIONS \nTABLE 19 INFLUENCE OF STAKEHOLDERS IN BUYING PROCESS FOR TOP APPLICATIONS (%) \n6.14.2 BUYING CRITERIA \nFIGURE 39 KEY CRITERIA FOR SELECTING SUPPLIER/VENDOR \nTABLE 20 KEY CRITERIA FOR SELECTING SUPPLIER/VENDOR\n\n**7 CANNABIS MARKET FORECAST, BY PRODUCT TYPE (Page No. - 110)** \n7.1 INTRODUCTION \nFIGURE 40 MARKET SHARE (VALUE), BY PRODUCT TYPE, 2022 VS 2027 \nTABLE 21 MARKET, BY PRODUCT TYPE, 2018\u20132021 (USD MILLION) \nTABLE 22 MARKET, BY PRODUCT TYPE, 2022\u20132027 (USD MILLION) \nTABLE 23 MARKET, BY PRODUCT TYPE, 2018\u20132021 (TONS) \nTABLE 24 MARKET, BY PRODUCT TYPE, 2022\u20132027 (TONS) \n7.2 FLOWERS \n7.2.1 AUTOMATION AND SUSTAINABLE PACKAGING TO BE KEY TRENDS IN PRE-ROLL DOMAIN \nTABLE 25 FLOWERS: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 26 FLOWERS: CANNABIS MARKET SIZE, BY REGION, 2022\u20132027 (USD MILLION) \nTABLE 27 FLOWERS: MARKET, BY REGION, 2018\u20132021 (TONS) \nTABLE 28 FLOWERS: MARKET SIZE, BY REGION, 2022\u20132027 (TONS) \n7.3 CONCENTRATES \n7.3.1 VARIOUS DELIVERY METHODS RESULTED IN CONSUMER-FRIENDLY CANNABIS\nCONCENTRATES MARKET \nTABLE 29 CONCENTRATES: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 30 CONCENTRATES: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \nTABLE 31 CONCENTRATES: MARKET, BY REGION, 2018\u20132021 (TONS) \nTABLE 32 CONCENTRATES: MARKET SIZE, BY REGION, 2022\u20132027 (TONS) \n7.4 EDIBLES \n7.4.1 FOOD AND BEVERAGE MANUFACTURING COMPANIES VENTURE INTO CANNABIS-INFUSED\nEDIBLES \nTABLE 33 EDIBLES: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 34 EDIBLES: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \nTABLE 35 EDIBLES: MARKET, BY REGION, 2018\u20132021 (TONS) \nTABLE 36 EDIBLES: MARKET SIZE, BY REGION, 2022\u20132027 (TONS) \n7.5 TOPICALS & TINCTURES \n7.5.1 TOPICALS WITNESS INCREASED DEMAND IN SKINCARE INDUSTRY \nTABLE 37 TOPICALS & TINCTURES: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 38 TOPICALS & TINCTURES: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \nTABLE 39 TOPICALS & TINCTURES: MARKET, BY REGION, 2018\u20132021 (TONS) \nTABLE 40 TOPICALS & TINCTURES: MARKET SIZE, BY REGION, 2022\u20132027 (TONS) \n7.6 OTHER PRODUCT TYPES \nTABLE 41 OTHER PRODUCT TYPES: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 42 OTHER PRODUCT TYPES: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \nTABLE 43 OTHER PRODUCT TYPES: MARKET, BY REGION, 2018\u20132021 (TONS) \nTABLE 44 OTHER PRODUCT TYPES: MARKET SIZE, BY REGION, 2022\u20132027 (TONS)\n\n**8 CANNABIS MARKET GROWTH, BY COMPOUND (Page No. - 125)** \n8.1 INTRODUCTION \nFIGURE 41 MARKET SHARE (VALUE), BY COMPOUND, 2022 VS 2027 \nTABLE 45 MARKET, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 46 MARKET, BY COMPOUND, 2022\u20132027 (USD MILLION) \n8.2 TETRAHYDROCANNABINOL (THC)-DOMINANT \n8.2.1 INCREASING LEGALIZATION OF RECREATIONAL CANNABIS PROPELS THC-DOMINANT\nMARKET \nTABLE 47 THC-DOMINANT: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 48 THC-DOMINANT: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \n8.3 CANNABIDIOL (CBD)-DOMINANT \n8.3.1 INCREASED POPULARITY OF CBD EDIBLES TO DRIVE CBD-DOMINANT MARKET \nTABLE 49 CBD-DOMINANT: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 50 CBD-DOMINANT: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \n8.4 BALANCED THC & CBD \n8.4.1 BALANCED THC & CBD STRAINS WITNESS GROWTH AS CBD DIMINISHES PSYCHOACTIVE\nPROPERTIES OF THC \nTABLE 51 BALANCED THC & CBD: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 52 BALANCED THC & CBD: MARKET, BY REGION, 2022\u20132027 (USD MILLION)\n\n**9 CANNABIS MARKET FORECAST, BY APPLICATION (Page No. - 131)** \n9.1 INTRODUCTION \nFIGURE 42 MARKET SHARE (VALUE), BY APPLICATION, 2022 VS 2027 \nTABLE 53 MARKET, BY APPLICATION, 2018\u20132021 (USD MILLION) \nTABLE 54 MARKET, BY APPLICATION, 2022\u20132027 (USD MILLION) \n9.2 MEDICAL \n9.2.1 INCREASE IN MARKET USE FOR TREATMENT OF VARIOUS AILMENTS DRIVES DEMAND\nFOR MEDICAL CANNABIS \n9.2.1.1 Pain management \n9.2.1.2 Neurological health management \n9.2.1.3 Mental health management \n9.2.1.4 Other medical applications \nTABLE 55 MEDICAL: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 56 MEDICAL: MARKET, BY REGION, 2022\u20132027 (USD MILLION) \n9.3 RECREATIONAL \n9.3.1 WIDER LEGALIZATION STATUS OF RECREATIONAL CANNABIS TO BOOST MARKET\nGROWTH \nTABLE 57 RECREATIONAL: MARKET, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 58 RECREATIONAL: MARKET, BY REGION, 2022\u20132027 (USD MILLION)\n\n**10 CANNABIS, BY REGION (Page No. - 140)** \n10.1 INTRODUCTION \nFIGURE 43 REGIONAL SNAPSHOT: NEW HOTSPOTS TO EMERGE IN EUROPE, 2022\u20132027 \nTABLE 59 GLOBAL CANNABIS MARKET SIZE, BY REGION, 2018\u20132021 (USD MILLION) \nTABLE 60 MARKET SIZE, BY REGION, 2022\u20132027 (USD MILLION) \nTABLE 61 MARKET SIZE, BY REGION, 2018\u20132021 (TONS) \nTABLE 62 MARKET SIZE, BY REGION, 2022\u20132027 (TONS) \n10.2 NORTH AMERICA \nFIGURE 44 NORTH AMERICA: MARKET SNAPSHOT \nTABLE 63 NORTH AMERICA: MARKET, BY COUNTRY, 2018\u20132021 (USD MILLION) \nTABLE 64 NORTH AMERICA: MARKET, BY COUNTRY, 2022\u20132027 (USD MILLION) \nTABLE 65 NORTH AMERICA: MARKET, BY APPLICATION, 2018\u20132021 (USD MILLION) \nTABLE 66 NORTH AMERICA: MARKET SIZE, BY APPLICATION, 2022\u20132027 (USD MILLION) \nTABLE 67 NORTH AMERICA: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 68 NORTH AMERICA: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \nTABLE 69 NORTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (USD MILLION) \nTABLE 70 NORTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (USD MILLION) \nTABLE 71 NORTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (TONS) \nTABLE 72 NORTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (TONS) \n10.2.1 US \n10.2.1.1 Increase in mergers, investments, and sales drive market in US \nTABLE 73 US: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 74 US: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.2.2 CANADA \n10.2.2.1 Presence of major players in Canada boosts growth during forecast\nperiod \nTABLE 75 CANADA: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 76 CANADA: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.2.3 MEXICO \n10.2.3.1 Medical cannabis used for epilepsy treatment boosts Mexican market\ngrowth \nTABLE 77 MEXICO: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 78 MEXICO: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.3 EUROPE \nFIGURE 45 EUROPE: MARKET SNAPSHOT \nTABLE 79 EUROPE: MARKET SIZE, BY COUNTRY, 2018\u20132021 (USD MILLION) \nTABLE 80 EUROPE: MARKET SIZE, BY COUNTRY, 2022\u20132027 (USD MILLION) \nTABLE 81 EUROPE: MARKET SIZE, BY APPLICATION, 2018\u20132021 (USD MILLION) \nTABLE 82 EUROPE: MARKET SIZE, BY APPLICATION, 2022\u20132027 (USD MILLION) \nTABLE 83 EUROPE: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 84 EUROPE: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \nTABLE 85 EUROPE: CANNABIS MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (USD\nMILLION) \nTABLE 86 EUROPE: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (USD MILLION) \nTABLE 87 EUROPE: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (TONS) \nTABLE 88 EUROPE: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (TONS) \n10.3.1 GERMANY \n10.3.1.1 Health insurance coverage for cannabis use in medical treatments\ndriving market \nTABLE 89 GERMANY: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 90 GERMANY: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.3.2 ITALY \n10.3.2.1 Increase in demand for cannabis and issuance of import licenses to\ndrive market \nTABLE 91 ITALY: MARKET, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 92 ITALY: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.3.3 DENMARK \n10.3.3.1 Huge demand for medical cannabis to drive Danish medical market \nTABLE 93 DENMARK: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 94 DENMARK: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.3.4 NETHERLANDS \n10.3.4.1 Strong infrastructure and rise in export of medical cannabis to other\ncountries drive market \nTABLE 95 NETHERLANDS: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 96 NETHERLANDS: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.3.5 FRANCE \n10.3.5.1 Government providing finance to healthcare systems and refunds\nprovided to patients \nTABLE 97 FRANCE: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 98 FRANCE: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.3.6 REST OF EUROPE \nTABLE 99 REST OF EUROPE: CANNABIS MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD\nMILLION) \nTABLE 100 REST OF EUROPE: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.4 SOUTH AMERICA \nTABLE 101 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2018\u20132021 (USD MILLION) \nTABLE 102 SOUTH AMERICA: MARKET SIZE, BY COUNTRY, 2022\u20132027 (USD MILLION) \nTABLE 103 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2018\u20132021 (USD MILLION) \nTABLE 104 SOUTH AMERICA: MARKET SIZE, BY APPLICATION, 2022\u20132027 (USD MILLION) \nTABLE 105 SOUTH AMERICA: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 106 SOUTH AMERICA: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \nTABLE 107 SOUTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (USD MILLION) \nTABLE 108 SOUTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (USD MILLION) \nTABLE 109 SOUTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (TONS) \nTABLE 110 SOUTH AMERICA: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (TONS) \n10.4.1 CHILE \n10.4.1.1 Rise in consumption of cannabis for medical usage driving cannabis\nmarket report \nTABLE 111 CHILE: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 112 CHILE: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.4.2 COLOMBIA \n10.4.2.1 Increased cannabis license distribution to companies drives market \nTABLE 113 COLOMBIA: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 114 COLOMBIA: MARKETSIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.4.3 URUGUAY \n10.4.3.1 Fully legalized cannabis industry with eased regulations drives\nmarket \nTABLE 115 URUGUAY: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 116 URUGUAY: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.4.4 REST OF SOUTH AMERICA \nTABLE 117 REST OF SOUTH AMERICA: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD\nMILLION) \nFALSE \n10.5 ROW \nTABLE 119 ROW: CANNABIS MARKET SIZE, BY COUNTRY, 2018\u20132021 (USD MILLION) \nTABLE 120 ROW: MARKET SIZE, BY COUNTRY, 2022\u20132027 (USD MILLION) \nTABLE 121 ROW: MARKET SIZE, BY APPLICATION, 2018\u20132021 (USD MILLION) \nTABLE 122 ROW: MARKET SIZE, BY APPLICATION, 2022\u20132027 (USD MILLION) \nTABLE 123 ROW: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 124 ROW: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \nTABLE 125 ROW: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (USD MILLION) \nTABLE 126 ROW: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (USD MILLION) \nTABLE 127 ROW: MARKET SIZE, BY PRODUCT TYPE, 2018\u20132021 (TONS) \nTABLE 128 ROW: MARKET SIZE, BY PRODUCT TYPE, 2022\u20132027 (TONS) \n10.5.1 ISRAEL \n10.5.1.1 Technical innovations and increased exports to drive market \nTABLE 129 ISRAEL: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 130 ISRAEL: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.5.2 AUSTRALIA \n10.5.2.1 Surge in epilepsy, chronic pain, and cancer patients resulted in\nmarket growth \nTABLE 131 AUSTRALIA: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 132 AUSTRALIA: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION) \n10.5.3 OTHERS IN ROW \nTABLE 133 OTHERS IN ROW: MARKET SIZE, BY COMPOUND, 2018\u20132021 (USD MILLION) \nTABLE 134 OTHERS IN ROW: MARKET SIZE, BY COMPOUND, 2022\u20132027 (USD MILLION)\n\n**11 COMPETITIVE LANDSCAPE (Page No. - 176)** \n11.1 OVERVIEW \n11.2 CANNABIS MARKET SHARE ANALYSIS, 2021 \nTABLE 135 MARKET: DEGREE OF COMPETITION (FRAGMENTED) \n11.3 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS \nFIGURE 46 SEGMENTAL REVENUE ANALYSIS OF KEY PLAYERS IN MARKET, 2017\u20132021 (USD\nMILLION) \n11.4 KEY PLAYER STRATEGIES \nTABLE 136 STRATEGIES ADOPTED BY KEY CANNABIS MANUFACTURERS \n11.5 COMPANY EVALUATION QUADRANT (KEY PLAYERS) \n11.5.1 STARS \n11.5.2 EMERGING LEADERS \n11.5.3 PERVASIVE PLAYERS \n11.5.4 PARTICIPANTS \nFIGURE 47 MARKET: COMPANY EVALUATION QUADRANT, 2021 (KEY PLAYERS) \n11.5.5 PRODUCT FOOTPRINT \nTABLE 137 COMPANY FOOTPRINT, BY APPLICATION \nTABLE 138 COMPANY FOOTPRINT, BY TYPE \nTABLE 139 COMPANY FOOTPRINT, BY REGION \nTABLE 140 OVERALL COMPANY FOOTPRINT \n11.6 MARKET: EVALUATION QUADRANT FOR STARTUPS/SMES, 2021 \n11.6.1 PROGRESSIVE COMPANIES \n11.6.2 STARTING BLOCKS \n11.6.3 RESPONSIVE COMPANIES \n11.6.4 DYNAMIC COMPANIES \nFIGURE 48 MARKET: COMPANY EVALUATION QUADRANT, 2021 (STARTUPS/SMES) \n11.6.5 COMPETITIVE BENCHMARKING OF KEY STARTUPS/SMES \nTABLE 141 MARKET: DETAILED LIST OF KEY STARTUP/SMES \nTABLE 142 CANNABIS MARKET FORECAST: COMPETITIVE BENCHMARKING OF KEY\nSTARTUPS/SMES \n11.7 PRODUCT LAUNCHES, DEALS, AND OTHER DEVELOPMENTS \n11.7.1 PRODUCT LAUNCHES \nTABLE 143 CANNABIS: PRODUCT LAUNCHES, 2019\u20132022 \n11.7.2 DEALS \nTABLE 144 CANNABIS: DEALS, 2019\u20132022 \n11.7.3 OTHERS \nTABLE 145 CANNABIS: OTHERS, 2019\u20132022\n\n**12 COMPANY PROFILES (Page No. - 193)** \n12.1 INTRODUCTION \n12.2 KEY PLAYER \n(Business overview, Products/Solutions/Services offered, Recent developments,\nNew product launches, Deals, MnM view, Right to win, Strategic choices, and\nWeaknesses and competitive threats)* \n12.2.1 CANOPY GROWTH CORPORATION \nTABLE 146 CANOPY GROWTH CORPORATION: BUSINESS OVERVIEW \nFIGURE 49 CANOPY GROWTH CORPORATION: COMPANY SNAPSHOT \nTABLE 147 CANOPY GROWTH CORPORATION: PRODUCTS OFFERED \nTABLE 148 CANOPY GROWTH CORPORATION: NEW PRODUCT LAUNCHES \nTABLE 149 CANOPY GROWTH CORPORATION: DEALS \nTABLE 150 CANOPY GROWTH CORPORATION: OTHERS \n12.2.2 CURALEAF \nTABLE 151 CURALEAF: BUSINESS OVERVIEW \nFIGURE 50 CURALEAF: COMPANY SNAPSHOT \nTABLE 152 CURALEAF: PRODUCTS OFFERED \nTABLE 153 CURALEAF: NEW PRODUCT LAUNCHES \nTABLE 154 CURALEAF: DEALS \nTABLE 155 CURALEAF: OTHERS \n12.2.3 CRESCO LABS \nTABLE 156 CRESCO LABS: CANNABIS MARKET BUSINESS OVERVIEW \nFIGURE 51 CRESCO LABS: COMPANY SNAPSHOT \nTABLE 157 CRESCO LABS: PRODUCTS OFFERED \nTABLE 158 CRESCO LABS: NEW PRODUCT LAUNCHES \nTABLE 159 CRESCO LABS: DEALS \nTABLE 160 CRESCO LABS: OTHERS \n12.2.4 GREEN THUMB INDUSTRIES \nTABLE 161 GREEN THUMB INDUSTRIES: BUSINESS OVERVIEW \nFIGURE 52 GREEN THUMB INDUSTRIES: COMPANY SNAPSHOT \nTABLE 162 GREEN THUMB INDUSTRIES: PRODUCTS OFFERED \nTABLE 163 GREEN THUMB INDUSTRIES: DEALS \nTABLE 164 GREEN THUMB INDUSTRIES: OTHERS \n12.2.5 TILRAY \nTABLE 165 TILRAY: BUSINESS OVERVIEW \nFIGURE 53 TILRAY: COMPANY SNAPSHOT \nTABLE 166 TILRAY INC: PRODUCTS OFFERED \nTABLE 167 TILRAY: NEW PRODUCT LAUNCHES \nTABLE 168 TILRAY: DEALS \nTABLE 169 TILRAY: OTHERS \n12.2.6 TRULIEVE \nTABLE 170 TRULIEVE: BUSINESS OVERVIEW \nFIGURE 54 TRULIEVE: COMPANY SNAPSHOT \nTABLE 171 TRULIEVE: PRODUCTS OFFERED \nTABLE 172 TRULIEVE: DEALS \nTABLE 173 TRULIEVE: OTHERS \n12.2.7 AURORA CANNABIS INC. \nTABLE 174 AURORA CANNABIS INC.: CANNABIS MARKET BUSINESS OVERVIEW \nFIGURE 55 AURORA CANNABIS INC.: COMPANY SNAPSHOT \nTABLE 175 AURORA CANNABIS INC.: PRODUCTS OFFERED \nTABLE 176 AURORA CANNABIS INC.: NEW PRODUCT LAUNCHES \nTABLE 177 AURORA CANNABIS INC.: DEALS \nTABLE 178 AURORA CANNABIS INC.: OTHERS \n12.2.8 MEDMEN \nTABLE 179 MEDMEN: BUSINESS OVERVIEW \nFIGURE 56 MEDMEN: COMPANY SNAPSHOT \nTABLE 180 MEDMEN: PRODUCTS OFFERED \nTABLE 181 MEDMEN: OTHERS \n12.2.9 UNRIVALED BRAND INC. \nTABLE 182 UNRIVALED BRAND INC.: BUSINESS OVERVIEW \nFIGURE 57 UNRIVALED BRAND INC.: COMPANY SNAPSHOT \nTABLE 183 UNRIVALED BRAND INC.: PRODUCTS OFFERED \nTABLE 184 UNRIVALED BRAND INC.: DEALS \nTABLE 185 UNRIVALED BRAND INC.: OTHERS \n12.2.10 ORGANIGRAM HOLDINGS INC. \nTABLE 186 ORGANIGRAM HOLDINGS INC.: BUSINESS OVERVIEW \nFIGURE 58 ORGANIGRAM HOLDINGS INC.: COMPANY SNAPSHOT \nTABLE 187 ORGANIGRAM HOLDINGS INC.: PRODUCTS OFFERED \nTABLE 188 ORGANIGRAM HOLDINGS INC.: PRODUCT LAUNCH \nTABLE 189 ORGANIGRAM HOLDINGS INC.: DEALS \nTABLE 190 ORGANIGRAM HOLDINGS INC.: OTHERS \n12.2.11 STENOCARE \nTABLE 191 STENOCARE: BUSINESS OVERVIEW \nFIGURE 59 STENOCARE: COMPANY SNAPSHOT \nTABLE 192 STENOCARE: PRODUCTS OFFERED \nTABLE 193 STENOCARE: DEALS \nTABLE 194 STENOCARE: OTHERS \n12.2.12 VIVO CANNABIS INC. \nTABLE 195 VIVO CANNABIS INC.: CANNABIS MARKET BUSINESS OVERVIEW \nFIGURE 60 VIVO CANNABIS INC.: COMPANY SNAPSHOT \nTABLE 196 VIVO CANNABIS INC.: PRODUCTS OFFERED \nTABLE 197 VIVO CANNABIS INC.: NEW PRODUCT LAUNCHES \nTABLE 198 VIVO CANNABIS INC.: DEALS \nTABLE 199 VIVO CANNABIS INC.: OTHERS \n12.2.13 TERRASCEND \nTABLE 200 TERRASCEND: BUSINESS OVERVIEW \nFIGURE 61 TERRASCEND: COMPANY SNAPSHOT \nTABLE 201 TERRASCEND: PRODUCTS OFFERED \nTABLE 202 TERRASCEND: DEALS \nTABLE 203 TERRASCEND: OTHERS \n12.2.14 HEXO CORP \nTABLE 204 HEXO CORP: BUSINESS OVERVIEW \nFIGURE 62 HEXO CORP: COMPANY SNAPSHOT \nTABLE 205 HEXO CORP: PRODUCTS OFFERED \nTABLE 206 HEXO CORP: NEW PRODUCT LAUNCHES \nTABLE 207 HEXO CORP: DEALS \nTABLE 208 HEXO CORP: OTHERS \n12.2.15 VILLAGE FARMS INTERNATIONAL INC. \nTABLE 209 VILLAGE FARMS INTERNATIONAL INC.: BUSINESS OVERVIEW \nFIGURE 63 VILLAGE FARMS INTERNATIONAL INC.: COMPANY SNAPSHOT \nTABLE 210 VILLAGE FARMS INTERNATIONAL INC.: PRODUCTS OFFERED \nTABLE 211 VILLAGE FARMS INTERNATIONAL INC.: OTHERS \n12.2.16 VERANO \nTABLE 212 VERANO: BUSINESS OVERVIEW \nFIGURE 64 VERANO: COMPANY SNAPSHOT \nTABLE 213 VERANO: PRODUCTS OFFERED \nTABLE 214 VERANO: DEALS \nTABLE 215 VERANO: OTHERS \n12.3 OTHER PLAYERS (SMES/STARTUPS) \n12.3.1 THE CRONOS GROUP \nTABLE 216 THE CRONOS GROUP: BUSINESS OVERVIEW \nFIGURE 65 THE CRONOS GROUP: COMPANY SNAPSHOT \nTABLE 217 THE CRONOS GROUP: PRODUCTS OFFERED \nTABLE 218 THE CRONOS GROUP: DEALS \nTABLE 219 THE CRONOS GROUP: OTHERS \n12.3.2 MEDICAL MARIJUANA, INC. \nTABLE 220 MEDICAL MARIJUANA, INC.: BUSINESS OVERVIEW \nFIGURE 66 MEDICAL MARIJUANA, INC.: COMPANY SNAPSHOT \nTABLE 221 MEDICAL MARIJUANA, INC.: PRODUCTS OFFERED \nTABLE 222 MEDICAL MARIJUANA, INC.: NEW PRODUCT LAUNCHES \nTABLE 223 MEDICAL MARIJUANA, INC.: DEALS \nTABLE 224 MEDICAL MARIJUANA, INC.: OTHERS \n12.3.3 ECOFIBRE LIMITED \nTABLE 225 ECOFIBRE LIMITED: CANNABIS MARKET BUSINESS OVERVIEW \nFIGURE 67 ECOFIBRE LIMITED: COMPANY SNAPSHOT \nTABLE 226 ECOFIBRE LIMITED: PRODUCTS OFFERED \nTABLE 227 ECOFIBRE LIMITED: OTHERS \n12.3.4 INDIVA \nTABLE 228 INDIVA: BUSINESS OVERVIEW \nFIGURE 68 INDIVA: COMPANY SNAPSHOT \nTABLE 229 INDIVA: PRODUCTS OFFERED \nTABLE 230 INDIVA: NEW PRODUCT LAUNCHES \nTABLE 231 INDIVA: DEALS \nTABLE 232 INDIVA: OTHERS \n12.3.5 TIKUN OLAM-CANNBIT PHARMACEUTICALS LTD. \nTABLE 233 TIKUN OLAM-CANNBIT PHARMACEUTICALS LTD.: BUSINESS OVERVIEW \nTABLE 234 TIKUN OLAM-CANNBIT PHARMACEUTICALS LTD.: PRODUCTS OFFERED \n12.3.6 MARICANN GROUP INC \nTABLE 235 MARICANN GROUP INC: BUSINESS OVERVIEW \nTABLE 236 MARICANN GROUP INC: PRODUCTS OFFERED \n12.3.7 SATIPHARM \n12.3.8 CANNABLISS ORGANIC LLC \n12.3.9 CONNECTED CANNABIS CO. \n12.3.10 JUSTICE CANNABIS CO. \n12.3.11 HENRY'S ORIGINAL\n\n*Details on Business overview, Products/Solutions/Services offered, Recent developments, New product launches, Deals, MnM view, Right to win, Strategic choices, and Weaknesses and competitive threats might not be captured in case of unlisted companies. \n\n**13 APPENDIX (Page No. - 290)** \n13.1 DISCUSSION GUIDE \n13.2 KNOWLEDGESTORE: MARKETSANDMARKETS\u2019 SUBSCRIPTION PORTAL \n13.3 CUSTOMIZATIONS OFFERED \n13.4 RELATED REPORTS \n13.5 AUTHOR DETAILS\n\nThis research involves the extensive use of secondary sources; directories;\nand databases, such as the Food and Drug Administration (FDA), Bureau for\nMedicinal Cannabis (BMC), National Cannabis Industry Association (NCIA), The\nEuropean Medicinal Cannabis Association (EUMCA), Bloomberg, and Factiva, to\nidentify and collect information useful for a technical, market-oriented, and\ncommercial study of the cannabis market overview. In-depth interviews were\nconducted with various primary respondents, such as key industry participants,\nSubject Matter Experts (SMEs), C-level executives of key market players, and\nindustry consultants, to obtain and verify critical qualitative and\nquantitative information and to assess prospects.\n\n## Secondary Research\n\nIn the secondary research process, various sources, such as the Food and Drug\nAdministration (FDA), Bureau for Medicinal Cannabis (BMC), National Cannabis\nIndustry Association (NCIA), The European Medicinal Cannabis Association\n(EUMCA), were referred to identify and collect information for this study. The\nsecondary sources also include medical journals, press releases, investor\npresentations of companies, white papers, certified publications, articles by\nrecognized authors and regulatory bodies, trade directories, and paid\ndatabases.\n\nSecondary research was mainly conducted to obtain critical information about\nthe industry\u2019s supply chain, the total pool of key players, and market\nclassification & segmentation according to the industry trends to the bottom-\nmost level and geographical markets. It was also used to obtain information\nabout the key developments from a market-oriented perspective.\n\n## Primary Research\n\nThe cannabis industry overview comprises several stakeholders, including\ncannabis growers, end-product manufacturers, and regulatory organizations in\nthe supply chain. Various primary sources from both the supply and demand\nsides of the market were interviewed to obtain qualitative and quantitative\ninformation. Primary interviewees from the supply-side include research\ninstitutions involved in R&D to introduce technology, distributors,\nwholesalers, importers & exporters of cannabis manufacturers and technology\nproviders. Primary sources from the demand-side include key opinion leaders,\nexecutives, vice presidents, and CEOs through questionnaires, emails, and\ntelephonic interviews.\n\nTo know about the assumptions considered for the study, [ **download the pdf\nbrochure**\n](https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=201768301)\n\n## Cannabis Market Size Estimation\n\nBoth the top-down and bottom-up approaches have been used to estimate and\nvalidate the total cannabis market size. These approaches were extensively\nused to determine the size of the subsegments in the market. The research\nmethodology used to estimate the market size includes the following details:\n\n * Top-down approach: \n * The key industry and market players were identified through extensive secondary research. \n * The industry's supply chain and market size were determined through primary and secondary research. \n * All percentage share splits and breakdowns were determined using secondary sources and verified through primary sources. \n * The peer market\u2014the cannabis devices market\u2014was considered to validate further the market details of cannabis. \n * Bottom-up approach: \n * The market sizes were analyzed based on the share of each type of cannabis at regional and country levels. Thus, the global market was estimated with a bottom-up approach of the type at the country level. \n * Other factors include the penetration rate of cannabis in distinguished product types, such as edibles, flowers, concentrates; consumer awareness; and function trends; pricing trends; the adoption rate and price factors; patents registered; and organic and inorganic growth attempts. \n * All macroeconomic and microeconomic factors affecting the cannabis industry were considered while estimating the market size. \n * All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data. \n\n## Data Triangulation\n\nAfter arriving at the overall market size from the estimation process\nexplained above, the total market was split into several segments and\nsubsegments. The data triangulation and market breakdown procedures were\nemployed, wherever applicable, to estimate the overall cannabis industry\ntrends and arrive at the exact statistics for all segments and subsegments.\nThe data was triangulated by studying various factors and trends from the\ndemand and supply sides. Along with this, the market size was validated using\nboth the top-down and bottom-up approaches.\n\n## Report Objectives\n\n * To define, segment, and project the global cannabis market statistics on the basis of product type, application, compound, and region \n * To provide detailed information regarding the key factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges) \n * To strategically analyze the micromarkets with respect to individual growth trends, future prospects, and their contribution to the total market \n * To analyze the opportunities in the market for stakeholders and provide a competitive landscape of the market leaders \n * To project the size of the market and its submarkets, in terms of value with respect to the regions (along with the key countries) \n * To strategically profile the key players and comprehensively analyze their market position and core competencies \n * To analyze the competitive developments such as joint ventures, mergers & acquisitions, new product developments, and research & developments in market \n\n## Available Customizations:\n\nWith the given market data, MarketsandMarkets offers customizations according\nto company-specific scientific needs.\n\nThe following customization options are available for the report:\n\n### Product Analysis\n\n * Product Matrix, which gives a detailed comparison of the product portfolio of each company \n\n### Geographic Analysis\n\nWith the given market data, MarketsandMarkets offers customizations according\nto the company-specific scientific needs.\n\n * Further breakdown of the Rest of European cannabis market share, by key country \n * Further breakdown of the Rest of South America, by key country \n\n### Company Information\n\n * Detailed analyses and profiling of additional market players \n\nCustom Market Research Services\n\nWe will customize the research for you, in case the report listed above does\nnot meet with your exact requirements. Our custom research will\ncomprehensively cover the business information you require to help you arrive\nat strategic and profitable business decisions.\n\n[ ](/requestCustomizationNew.asp?id=201768301)\n\n## Instant Answers with GPT - Ask Now!\n\n_Ask real questions. Get complete answers !_\n\nGenerating Response ...\n\n \n\n__\n\n#### Growth opportunities and latent adjacency in Cannabis Market\n\n### Get recent trends delivered to your inbox\n\nOvertake your competition with ease.\n\n[ Stay tuned ](/practices/stay-tuned.asp)\n\nBefore You Go\n\n## Expand Beyond Cannabis Market\n\n## Explore the top 20 industries influencing your market growth\n\nHuman and AI Powered Market Intelligence\n\n[ Find Untapped Markets ](/Knowledgestore/KSNew.asp?reportid=201768301)\n\nReport Code\n\nFB 6762\n\nPublished ON\n\nAug, 2022\n\n[ __ REQUEST FREE SAMPLE REPORT ](/requestsampleNew.asp?id=201768301)\n\nChoose License Type\n\n__\n\n__\n\n[ BUY NOW ](/Purchase/purchase_reportNew.asp?id=201768301)\n\n[ Request New Version __ ](/RequestNewVersion.asp?id=201768301) [ Inquire\nBefore Buying __ ](/Enquiry_Before_BuyingNew.asp?id=201768301)\n\nADJACENT MARKETS\n\n * [ Industrial Hemp Market ](/Market-Reports/industrial-hemp-market-84188417.html)\n * [ Cannabis Testing Market ](/Market-Reports/cannabis-testing-market-46932450.html)\n\n[ REQUEST BUNDLE REPORTS ](/RequestBundleReport.asp?id=201768301)\n\n * [ __ ](JavaScript:Void\\(0\\); \" Save page as PDF \")\n * [ __ ]( \"Print\")\n * [ __ ](mailto:sales@marketsandmarkets.com \"Email\")\n * SHARE [ __ ](https://www.facebook.com/sharer/sharer.php?u=https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html \"share to facebook\") [ __ ](https://x.com/share?url=https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html \"share to twitter\") [ __ ](https://www.linkedin.com/shareArticle?mini=true&url=https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html \"share to linkedin\")\n\nX\n\n[ ](/requestCustomizationNew.asp?id=201768301)\n\n[ Speak to Analyst OR FACE-TO-FACE MEETING\n](/speaktoanalystNew.asp?id=201768301)\n\nPERSONALIZE THIS RESEARCH\n\n * Triangulate with your Own Data \n * Get Data as per your Format and Definition \n * Gain a Deeper Dive on a Specific Application, Geography, Customer or Competitor \n * Any level of Personalization \n\n[ REQUEST A FREE CUSTOMIZATION ](/requestCustomizationNew.asp?id=201768301)\n\nLET US HELP YOU!\n\n * What are the Known and Unknown Adjacencies Impacting the Cannabis Market \n * What will your New Revenue Sources be? \n * Who will be your Top Customer; what will make them switch? \n * Defend your Market Share or Win Competitors \n * Get a Scorecard for Target Partners \n\n[ CUSTOMIZED WORKSHOP REQUEST ](/FreeWorkshop.asp?id=201768301)\n\n## Want to explore hidden markets that can drive new revenue in Cannabis\nMarket ?\n\n[ Find Hidden Markets ](/Knowledgestore/KSNew.asp?reportid=201768301)\n\n[ ](/ \"Market Research Firm\")\n\n * [ Home ](/)\n * [ About Us ](/AboutUs-8.html)\n * [ Leadership Team ](/LeadershipTeam.asp)\n * [ Research Experts ](/ResearchLeadership.asp)\n * [ Briefings ](/analystbriefings.html \"Analyst Briefings\")\n * [ Careers ](/Career.asp)\n * [ Contact us ](/ContactUs.asp)\n\n[ Sign In ](https://www.marketsandmarkets.com/signin.asp)\n\n * [ __ Call ](tel:+1-888-600-6441)\n * [ __ Email ](mailto:sales@marketsandmarkets.com)\n * [ REQUEST FREE SAMPLE REPORT ](/requestsampleNew.asp?id=201768301)\n\n[ __ ](mailto:sales@marketsandmarkets.com \"email\")\n\nsales@marketsandmarkets.com\n\n * Call Us \n\n * __\n\n+1-888-600-6441 (Corporate office hours)\n\n * __\n\n+1-888-600-6441 (US/Can toll free)\n\n * __\n\n+44-800-368-9399 (UK office hours)\n\n * \n\nCONNECT WITH US\n\n * [ ](https://www.linkedin.com/company/marketsandmarkets \"Check\")\n * [ ](https://www.facebook.com/pages/Market-Research-Report/171919766173321 \"Follow us on Facebook\")\n * [ ](https://twitter.com/marketsmarkets)\n * [ ](https://blog.marketsandmarkets.com \"Follow us on Blogger\")\n * [ ](https://www.marketsandmarkets.com/feeds/feeds.xml \"Follow us on RSS\")\n * [ ](https://www.youtube.com/channel/UCF2TjAy2gyENMNkd2QvrI6g \"Follow us on youtube\")\n\n * [ Top Market Reports ](/top-market-reports.asp)\n * [ Conferences ](/conferences.html)\n * [ Press Releases ](/press-release-2.html)\n * [ SiteMap ](/sitemap.html)\n * [ XML ](/sitemap.xml)\n * [ Feeds ](/feeds/feeds.xml)\n * [ Blog ](https://blog.marketsandmarkets.com/)\n * [ Careers ](/Career.asp)\n * [ New Reports ](/new-reports.asp)\n * [ Research Insight ](/Research-Insight.html \"Research Insight\")\n\n * [ Disclaimer ](/Disclaimer.asp)\n * [ Privacy Policy ](/Privacy-12.html)\n * [ Terms and Conditions ](/Terms-13.html)\n * \u00a92025 MarketsandMarkets Research Private Ltd. All rights reserved \n\nABOUT TRUST ONLINE\n\n * * * * \n\n\u00a92025 MarketsandMarkets Research Private Ltd. All rights reserved\n\n[ Chat with us ](https://www.livechatinc.com/chat-with/11766279/) , powered by\n[ LiveChat ](https://www.livechatinc.com/?welcome) [\n](//www.dmca.com/Protection/Status.aspx?ID=512a6ded-1d0f-4215-a661-d50c1031e201\n\"DMCA.com Protection Status\")\n\nShare Content\n\n[ __ Facebook\n](https://www.facebook.com/sharer/sharer.php?u=https://www.marketsandmarkets.com/Market-\nReports/cannabis-market-201768301.html) [ __ LinkedIn\n](https://www.linkedin.com/shareArticle?mini=true&url=https://www.marketsandmarkets.com/Market-\nReports/cannabis-market-201768301.html) [ __ X\n](https://x.com/share?url=https://www.marketsandmarkets.com/Market-\nReports/cannabis-market-201768301.html) [ __ Email\n](mailto:sales@marketsandmarkets.com?subject=Marketsandmarkets Cannabis Market\n&body=Check out this report from MarketsandMarkets. I believe you will find it\ninteresting. %0D%0A%0D%0A The Cannabis Market Size, Share, Trends Analysis\nReport, By Product Type \\(Flowers, Concentrates, Edibles, Topicals &\nTinctures\\), By Compound \\(THC-Dominant, CBD-Dominant, and Balanced THC &\nCBD\\), By Application \\(Medical and Recreational\\), and By Region \\(North\nAmerica, South America, Europe and RoW\\) - Industry Forecast - 2027 .\n%0D%0A%0D%0A https://www.marketsandmarkets.com/Market-Reports/cannabis-\nmarket-201768301.html %0D%0A%0D%0A)\n\nMarkets and Markets research pvt ltd. (Aug, 2022 ). _Cannabis Market Size,\nShare, Trends Analysis Report, By Product Type (Flowers, Concentrates,\nEdibles, Topicals & Tinctures), By Compound (THC-Dominant, CBD-Dominant, and\nBalanced THC & CBD), By Application (Medical and Recreational), and By Region\n(North America, South America, Europe and RoW) - Industry Forecast - 2027 _\nMarketsandMarkets. Retrieved Apr 24, 2025 , from [\nhttps://www.marketsandmarkets.com/Market-Reports/cannabis-\nmarket-201768301.html ](https://www.marketsandmarkets.com/Market-\nReports/cannabis-market-201768301.html)\n\nEmbed Code Source\n\n##### Get Embed Code\n\n<div \nstyle='text-align:center;position:relative;font-size:0;width:1080px;'> \n<img \nstyle='object-fit:cover;width:100%;' \nalt='Market Snapshot - North America Inflight Catering Market' \nsrc='https://www.marketsandmarkets.com/Images/.jpg?embed=true'> \n<a \ntarget='_blank' \nhref='https://www.marketsandmarkets.com/Market-Reports/cannabis-\nmarket-201768301.html'> \n< div \nstyle='position:absolute;bottom:0px;right:0px;color:white;background:\nrgba(0,0,0, 0.5);padding: 4px 6px;font-family:Arial;font-size:14px;'> \nImage Source \n</div> \n</a> \n</div>\n\n[ REQUEST FREE SAMPLE ](/requestsampleNew.asp?id=201768301)\n\n#### Please enter your contact details it will help our analyst to reach out\nto you.\n\n[ ](/ \"Market Research Firm\")\n\nCannabis Market\n\nPublished Date: Aug 2022 | Report Code: FB 6762 \n\nsales@marketsandmarkets.com | USA 1-888-600-6441 \n\n[ __ BUY NOW ](/Purchase/purchase_reportNew.asp?id=201768301) __ DOWNLOAD PDF\n\nCannabis Market \nGet a free sample of this report\n\n[ Unlock Insights ](/Knowledgestore/KSNew.asp?reportid=201768301)\n\n[ Website Feedback ](javascript:void\\( window.open\\(\n'https://form.jotform.com/222931707726459', 'blank', 'scrollbars=yes,\ntoolbar=no, width=700, height=500' \\) \\) )\n\n",
"url": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
},
"reason": "MarketsandMarkets is a market research firm. Their report on the cannabis market is likely to contain relevant information, although it's not directly about Cronos Group's environmental practices.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Market research report on the cannabis market.",
"url": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
},
{
"content": {
"metadata": {
"ext_id": "c7899065-4be0-45d4-bd06-969cb1fafaf1",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
"page_content": "Please enable JS and disable any ad blocker\n\n",
"url": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
"reason": "Barron's is a reputable financial news source. The article discusses environmental concerns related to marijuana stocks, which is relevant to Cronos Group.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Article discussing environmental troubles related to marijuana stocks.",
"url": "https://www.barrons.com/articles/marijuana-stocks-newest-danger-is-environmental-trouble-51572345000"
},
{
"content": {
"metadata": {
"ext_id": "3a704cfe-c4e1-419f-9efc-d234710e8862",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "http://thecronosgroup.gcs-web.com/news-releases/news-release-details/cronos-group-releases-cannabinoid-life-cycle-study-highlighting"
},
"page_content": "Skip to main navigation\n\n \n\n \n\n \n\n# News Release\n\n \n\n \n\n \n\n \n\n \n\n###\n\nCronos Group Releases Cannabinoid Life Cycle Study Highlighting its\nSustainable Fermentation Practices\n\n21 April 2023\n\nTORONTO, April 21, 2023 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) today, in honor of Earth Day, released\na Sustainability Study, which outlines the benefits of using fermentation\nmanufacturing methods for cannabinoid production over the impact of\ntraditional methods of cannabis extraction, which leverage indoor cultivation\nmethods * . \n\nThe third-party reviewed results showed that the environmental footprint of\ngrowing plants indoors is high and using innovative fermentation processes is\na solution that dramatically lowers the environmental impact of cannabinoid\nproduction. On average, the carbon footprint savings of using Cronos\u2019\nfermentation method is 99.8% when compared to traditional extraction methods.\n1\n\nCronos\u2019 brand platform features rare cannabinoids in a wide range of product\nformats. The Company has launched CBC and CBG-focused adult products under its\n[ _Spinach FEELZ\u2122_ ](https://spinachcannabis.com/feelz/) brand platform, both\nproducts are made using Cronos\u2019 proprietary sustainable fermentation methods.\nEach product is designed to deliver unique and enhanced experiences made\npossible through proprietary blends of rare cannabinoids alongside more common\ncannabinoids, like THC and CBD.\n\n\u201cWhile our industry is young, it\u2019s never too early to lead and invest in\ntechnology that helps contribute to a greener future,\u201d said Mike Gorenstein,\nPresident, Chairman, and Chief Executive Officer, Cronos. \u201cBy pioneering new\ntechnologies that produce rare cannabinoids using fermentation, we are not\nonly creating a viable path to harnessing the full power of cannabinoids, but\nalso, we are creating a sustainable process. We\u2019re thrilled to be using this\ntechnology to create innovative products under our Spinach FEELZ\u2122 brand, which\nbrings exciting, differentiated, and sustainable cannabinoid products to\nconsumers.\u201d\n\n**Key Highlights**\n\n * On average, the carbon footprint savings of using Cronos\u2019 fermentation method is 99.8% when compared to traditional extraction methods. 1 \n * Fermentation methods reduce up to 99% of environmental harm from conventional production across all metrics. 1 \n * Cronos\u2019 fermentation methods eliminate plant cannabis byproduct at the outset, which helps to dramatically reduce overall carbon and water usage. 1 \n\n\u201cWith this study, we have clearly outlined how our techniques and innovations\nin production can lead the way for a more sustainable industry,\u201d said Anna\nShlimak, Senior Vice President, Corporate Affairs and Strategy, Cronos. \u201cAs\nthe cannabis industry develops, the need for a more sustainable way to produce\ncannabinoids, including rare cannabinoids, is vital. We call upon our industry\nstakeholders to make room for these sustainable methods as we look to co-\ncreate regulations and protections for the emerging cannabis industry.\u201d\n\nTo view the full study, please visit [\nhttps://thecronosgroup.com/responsibility\n](https://thecronosgroup.com/responsibility) or download a fact sheet PDF [\nhere ](https://thecronosgroup.com/responsibility#sustainability_div) . To\nlearn more about Spinach FEELZ\u2122, please visit [\nhttps://spinachcannabis.com/feelz/ ](https://spinachcannabis.com/feelz/)\n\n1 Intertek Health Sciences Inc. (2022). CANNABINOID PRODUCTION PROCESSES:\nINNOVATIVE FERMENTATION METHOD AND CONVENTIONAL EXTRACTION. _Intertek\nSustainability._\n\n**About Cronos Group Inc.**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-looking Statements** \nThis press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about the sustainability of Cronos\u2019 fermentation\nmethods for the production of rare cannabinoids and the products in which such\nrare cannabinoids are included. Forward-looking Statements are necessarily\nbased upon a number of estimates and assumptions that, while considered\nreasonable by management, are inherently subject to significant business,\neconomic and competitive risks, financial results, results, performance or\nachievements expressed or implied by those Forward-looking Statements and the\nForward-looking Statements are not guarantees of future performance. A\ndiscussion of some of the material risks applicable to the Company can be\nfound in the Company\u2019s Annual Report on Form 10-K for the year ended December\n31, 2022 which has been filed on SEDAR and EDGAR and can be accessed at [\nwww.sedar.com ](http://www.sedar.com) and [ www.sec.gov/edgar\n](http://www.sec.gov/edgar) , respectively. Any Forward-looking Statement\nincluded in this press release is made as of the date of this press release\nand, except as required by law, Cronos disclaims any obligation to update or\nrevise any Forward-looking Statement. Readers are cautioned not to put undue\nreliance on any Forward-looking Statement.\n\n**For further information, please contact:**\n\n**Media Relations Contact:** \nEmily Whalen \nCommunications \nTel: (416) 504-0004 \nmedia.relations@thecronosgroup.com\n\n**Investor Relations Contact:** \nShayne Laidlaw \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n * [ Print Page ](javascript:window.print\\(\\);)\n * Share \n\n[ __ facebook\n](http://www.facebook.com/share.php?u=http%3A%2F%2Fthecronosgroup.gcs-\nweb.com%2Fnews-releases%2Fnews-release-details%2Fcronos-group-releases-\ncannabinoid-life-cycle-study-highlighting \"Facebook\") [ __ linkedin\n](http://www.linkedin.com/shareArticle?mini=true&url=http%3A%2F%2Fthecronosgroup.gcs-\nweb.com%2Fnews-releases%2Fnews-release-details%2Fcronos-group-releases-\ncannabinoid-life-cycle-study-highlighting \"LinkedIn\") [ __ twitter\n](http://twitter.com/home?status=Currently%20reading%20http%3A%2F%2Fthecronosgroup.gcs-\nweb.com%2Fnews-releases%2Fnews-release-details%2Fcronos-group-releases-\ncannabinoid-life-cycle-study-highlighting \"Twitter\")\n\n * [ View All Releases ](/press-room/news-releases)\n\n \n\n \n\n \n\n[ Print Page ](javascript:window.print\\(\\); \"Print Page\") [ Sign Up for Email\nAlerts ](/contact/email-alerts \"Sign Up for Email Alerts\") [ RSS Feeds\n](/shareholder-services/rss-feeds \"RSS Feeds\") [ Financial Tearsheet\n](/financial-tearsheet \"Financial Tearsheet\")\n\n* * *\n\n \n\n[ Terms of Use ](https://thecronosgroup.com/terms-of-use/) [ Privacy Policy\n](https://thecronosgroup.com/privacy-policy/) [ Cookie Policy\n](https://thecronosgroup.com/cookie-policy/)\n\n\u00a9 2025 The Cronos Group, All rights reserved.\n\n[ ](https://www.facebook.com/The-Cronos-Group-419168411987225) [\n](https://twitter.com/cronosgroup) [\n](https://www.linkedin.com/company/cronos-group-cron/?viewAsMember=true)\n\n",
"url": "http://thecronosgroup.gcs-web.com/news-releases/news-release-details/cronos-group-releases-cannabinoid-life-cycle-study-highlighting"
},
"reason": "This is a news release from the Cronos Group's investor relations website. It highlights a cannabinoid life cycle study, which is directly relevant to the company and its environmental impact.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Cronos Group releases a cannabinoid life cycle study.",
"url": "http://thecronosgroup.gcs-web.com/news-releases/news-release-details/cronos-group-releases-cannabinoid-life-cycle-study-highlighting"
},
{
"content": {
"metadata": {
"ext_id": "92da6a16-d69d-49b7-acc3-5b5e9440518d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
"page_content": "## We've detected unusual activity from your computer network\n\nTo continue, please click the box below to let us know you're not a robot.\n\n### Why did this happen?\n\nPlease make sure your browser supports JavaScript and cookies and that you are\nnot blocking them from loading. For more information you can review our [\nTerms of Service ](/notices/tos) and [ Cookie Policy ](/notices/tos) .\n\n### Need Help?\n\nFor inquiries related to this message please [ contact our support team\n](/feedback) and provide the reference ID below.\n\nBlock reference ID:02261014-2110-11f0-80b8-7d125790d6b4\n\nGet the most important global markets news at your fingertips with a [\nBloomberg.com ](https://bloomberg.com) subscription.\n\n[ SUBSCRIBE NOW ](/subscription)\n\n",
"url": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
"reason": "Bloomberg is a reputable news source. The article discusses the marijuana industry's efforts to lessen its environmental impact, which is relevant to Cronos Group.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Article about the marijuana industry seeking to lessen its environmental impact.",
"url": "https://www.bloomberg.com/news/newsletters/2022-05-09/marijuana-industry-seeks-to-lessen-its-environmental-impact"
},
{
"content": {
"metadata": {
"ext_id": "d50fafb0-f349-46d0-bee6-6b997c2ff0f2",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
"page_content": "| Company Name, Ticker, Suppliers, else.. | | \n---|---|---|--- \n \n * [ HOME ](https://csimarket.com/index.php)\n * [ INDUSTRIES ](https://csimarket.com/Industry/Industry_Data.php)\n * [ NEWS ](https://csimarket.com/news/index.php)\n * [ MARKETS ](https://csimarket.com/markets/markets_glance.php)\n * [ ECONOMY ](https://csimarket.com/economy/At_glance.php)\n * [ SCREENING ](https://csimarket.com/screening/index.php)\n * [ GLOSSARY ](https://csimarket.com/glossary/term_Amortization.html)\n * [ HELP ](https://csimarket.com/help/About_us.php)\n\n * [ Company Profile ](https://csimarket.com/stocks/at_glance.php?code=CRON)\n * [ Cronos Group Inc News ](https://csimarket.com/stocks/news.php?code=CRON)\n * [ Cronos Group Inc's Revenue Growth ](https://csimarket.com/stocks/single_growth_rates.php?code=CRON&rev)\n * [ Cronos Group Inc's Asset Turnover ](https://csimarket.com/stocks/singleEfficiencyat.php?code=CRON)\n * [ Cronos Group Inc Business Description ](https://csimarket.com/stocks/CRON-Business-Description.html)\n * [ Cronos Group Inc Executive Officers ](https://csimarket.com/stocks/CRON-Officers-Directors.html)\n * [ Economic Indicators ](https://csimarket.com/stocks/eco.php?code=CRON)\n * [ Fundamentals ](https://csimarket.com/stocks/fundamentals_glance.php?code=CRON)\n * [ Cronos Group Inc Growth Rates ](https://csimarket.com/stocks/growthrates.php?code=CRON)\n * [ Cronos Group Inc Profitability ](https://csimarket.com/stocks/Profitability.php?code=CRON)\n * [ Cronos Group Inc Valuation ](https://csimarket.com/stocks/CRON-Valuation-Comparisons.html)\n * [ Cronos Group Inc Management Effectiveness ](https://csimarket.com/stocks/CRON-Management-Effectiveness-Comparisons.html)\n * [ Cronos Group Inc Financial Strength ](https://csimarket.com/stocks/CRON-Financial-Strength-Comparisons.html)\n * [ Cronos Group Inc Efficiency ](https://csimarket.com/stocks/CRON-Efficiency-Comparisons.html)\n * [ Cronos Group Inc Dividend ](https://csimarket.com/stocks/CRON-Dividend-Comparisons.html)\n * [ Financials ](https://csimarket.com/stocks/financials_glance.php?code=CRON)\n * [ Cronos Group Inc Business Segments ](https://csimarket.com/stocks/segments.php?code=CRON)\n * [ Cronos Group Inc Income Statement ](https://csimarket.com/stocks/CRON-Income-Statement)\n * [ Cronos Group Inc Balance Sheets ](https://csimarket.com/stocks/CRON-Balance-Sheets)\n * [ Cronos Group Inc Cash Flow Statement ](https://csimarket.com/stocks/CRON-Cash-Flow-Statements)\n * [ Competition ](https://csimarket.com/stocks/compet_glance.php?code=CRON)\n * [ Cronos Group Inc Market Share ](https://csimarket.com/stocks/competitionSEG2.php?code=CRON)\n * [ Cronos Group Inc Competition Performance ](https://csimarket.com/stocks/competitionNO9.php?code=CRON)\n * [ Cronos Group Inc Competitors Results ](https://csimarket.com/stocks/competition2.php?code=CRON)\n * [ CRON Competitors Stock Performance ](https://csimarket.com/stocks/competitionNO2.php?code=CRON)\n * [ CRON Competitors Growth Rates ](https://csimarket.com/stocks/competitionNO3.php?code=CRON)\n * [ CRON Workforce Efficiency at the Competitors ](https://csimarket.com/stocks/competitionNO4.php?code=CRON)\n * [ CRON Competitors Efficiency ](https://csimarket.com/stocks/competitionNO5.php?code=CRON)\n * [ CRON Competitors Management Effectiveness ](https://csimarket.com/stocks/competitionNO6.php?code=CRON)\n * [ CRON Competitors Valuation ](https://csimarket.com/stocks/competitionNO8.php?code=CRON)\n * [ Charts & Quotes ](https://csimarket.com/stocks/charts.php?code=CRON)\n * [ CRON's Technical Analysis ](https://csimarket.com/stocks/CRON-technical-analysis)\n * [ Cronos Group Inc Comparison Charts ](https://csimarket.com/stocks/technicals_compare.php?code=CRON)\n * [ CRON OHLC Charts ](https://csimarket.com/stocks/technicals_ohlc.php?code=CRON)\n * [ CRON Line Charts ](https://csimarket.com/stocks/technicals_line.php?code=CRON)\n * [ CRON's Weekly Charts ](https://csimarket.com/stocks/technicals_ohlc_week.php?code=CRON)\n * [ CRON's Monthly Charts ](https://csimarket.com/stocks/technicals_ohlc_month.php?code=CRON)\n\n * * [ Home ](https://csimarket.com/index.php)\n * [ Cronos Group Inc's Profile ](https://csimarket.com/stocks/at_glance.php?code=CRON)\n * [ Company Charts and Quotes ](https://csimarket.com/stocks/charts.php?code=CRON)\n * [ CRON's OHLC Chart ](https://csimarket.com/stocks/technicals_ohlc.php?code=CRON)\n * [ Cronos Group Inc News ](https://csimarket.com/stocks/news.php?code=CRON)\n * [ Cronos Group Inc latest News ](https://csimarket.com/news/spinach-flourishes-as-leading-cannabis-brand-in-canada-cronos-group-s-innovative-strategy-and-summer-expansion2024-10-10131846)\n * [ Cronos Group Inc's Executive Officers ](https://csimarket.com/stocks/CRON-Officers-Directors.html)\n * [ Cronos Group Inc's Income Statement ](https://csimarket.com/stocks/CRON-Income-Statement)\n * [ Cronos Group Inc's Balance Sheets ](https://csimarket.com/stocks/CRON-Balance-Sheets)\n * [ Cronos Group Inc's Cash Flow Statement ](https://csimarket.com/stocks/CRON-Cash-Flow-Statements)\n * [ Cronos Group Inc's Profitability ](https://csimarket.com/stocks/Profitability.php?code=CRON)\n * [ Cronos Group Inc's Financials ](https://csimarket.com/stocks/financials_glance.php?code=CRON)\n * [ Cronos Group Inc's Net Income Y/Y ](https://csimarket.com/stocks/single_growth_rates.php?code=CRON&net)\n * [ Cronos Group Inc's Suppliers ](https://csimarket.com/stocks/suppliers_glance.php?code=CRON)\n * [ Cronos Group Inc's Competitors ](https://csimarket.com/stocks/compet_glance.php?code=CRON)\n * [ Cronos Group Inc's Markets & Customers ](https://csimarket.com/stocks/markets_glance.php?code=CRON)\n * [ Cronos Group Inc's Market Share ](https://csimarket.com/stocks/competitionSEG2.php?code=CRON)\n * [ CRON's Suppliers Efficiency ](https://csimarket.com/stocks/competitionNO5.php?supply&code=CRON)\n * [ CRON's Competitors Valuation ](https://csimarket.com/stocks/competitionNO8.php?code=CRON)\n * [ CRON's Charts Technical Indicators ](https://csimarket.com/stocks/CRON-technical-analysis)\n * [ Cronos Group Inc's Customers Growth Rates ](https://csimarket.com/stocks/competitionNO3.php?markets&code=CRON)\n * [ Economic Indicators ](https://csimarket.com/stocks/eco.php?code=CRON)\n * [ Return On Assets by Industry ](https://csimarket.com/Industry/industry_ManagementEffectiveness.php)\n * [ News ](https://csimarket.com/news/index.php)\n * [ Economy News ](https://csimarket.com/news/economy.php)\n * [ Stocks on the Move ](https://csimarket.com/news/stocks_on_move.php)\n * [ News on Clinical Trials ](https://csimarket.com/news/clinical_trails.php)\n * [ Previous News ](https://csimarket.com/news/index.php?hist=166)\n * [ Interest Coverage Screening ](https://csimarket.com/screening/index.php?s=ic)\n * [ Best performing Stocks in Consumer Non Cyclical Sector ](https://csimarket.com/markets/Best_in_Industry.php?s=500)\n * [ Markets at a Glance ](https://csimarket.com/markets/markets_glance.php)\n * [ Stocks ](https://csimarket.com/markets/Stocks.php)\n * [ Cryptocurrencies ](https://csimarket.com/markets/Cryptocurrencies.php)\n * [ Sectors & Industries ](https://csimarket.com/markets/Sectors1.php)\n * [ Best performing Stocks in Legal Cannabis industry for the Week ](https://csimarket.com/markets/Worst_in_Industry.php?ind=509&days=week)\n * [ Commodities ](https://csimarket.com/markets/Commodities.php)\n * [ Foreign Exchange ](https://csimarket.com/markets/Currencies.php)\n * [ Stocks in 2024 ](https://csimarket.com/markets/year.php?year=2024#tablecomp)\n * [ Productivity ](https://csimarket.com/economy/Productivity_glance.php)\n * [ News ](https://csimarket.com/news/index.php)\n * [ Economy News ](https://csimarket.com/news/economy.php)\n * [ Business News ](https://csimarket.com/news/stocks.php)\n * [ Cronos Group Inc latest News ](https://csimarket.com/news/spinach-flourishes-as-leading-cannabis-brand-in-canada-cronos-group-s-innovative-strategy-and-summer-expansion2024-10-10131846)\n * [ Financial Terms ](https://csimarket.com/glossary/category_ft.html)\n\n| [ ](https://csimarket.com/stocks/search.php) \n---|--- \n \n--- \n| | Cronos Group Inc (NASDAQ: CRON ) | | Other Ticker: | \n---|--- \n| | Sector [ \u2022 Consumer Non Cyclical ](https://csimarket.com/Industry/industry_valuation_ttm.php?pb&s=500) Industry [ \u2022 Legal Cannabis ](https://csimarket.com/Industry/Industry_Profitability.php?ind=509) | \n---|---|--- \n \nIndustry [ \u2022 Legal Cannabis\n](https://csimarket.com/Industry/Industry_Profitability.php?ind=509) \n--- \nSector [ \u2022 Consumer Non Cyclical\n](https://csimarket.com/Industry/industry_valuation_ttm.php?pb&s=500) \n \n \n\n# Cronos Group Inc\n\n## Business Description\n\n \nCronos Group Inc is a Canadian cannabis company that operates globally. It was\nfounded in 2013 by two entrepreneurs, and it was one of the first companies to\nreceive a cultivation license from Health Canada. The company is publicly\ntraded on the Toronto Stock Exchange and the NASDAQ. \n \nCronos Group has established itself as a leading player in the cannabis\nindustry. It operates through its three wholly-owned subsidiaries: Cronos\nGrowing Company Inc, Cronos Israel, and Cronos Australia. These subsidiaries\nfocus on the cultivation, production, and distribution of cannabis products. \n \nOne of the key strengths of Cronos Group is its diverse portfolio of brands\nand products. The company*s offerings include dried flower, oils, pre-rolls,\nvapes, and cannabis-infused beverages. It has also gained a reputation for\ndeveloping innovative and high-quality products by leveraging advanced\nresearch and development capabilities. \n \nCronos Group has a strong international presence. It has strategically entered\ninto partnerships and agreements with companies in various countries to expand\nits global footprint. For example, it has an exclusive distribution agreement\nwith Delfarma, a leading pharmaceutical distributor in Poland. Additionally,\nCronos Group has partnered with Kibbutz Gan Shmuel, an agricultural community\nin Israel, to establish a state-of-the-art cultivation facility. \n \nThe company*s commitment to research and development sets it apart in the\nindustry. Cronos Group invests significantly in scientific research to develop\nnew cannabis products and to improve the efficiency of cultivation and\nextraction processes. It has established a cutting-edge research and\ndevelopment facility to drive innovation and create a competitive advantage. \n \nCronos Group prioritizes sustainable and responsible operations. It is focused\non minimizing its environmental impact and ensuring the health and safety of\nits employees. The company has implemented various initiatives to promote\nsustainability, such as adopting energy-efficient technologies and reducing\nwater consumption in its cultivation facilities. \n \nIn addition to its core cannabis business, Cronos Group is actively exploring\nopportunities in the hemp-derived CBD market. It has launched various CBD\nproducts, including topicals and tinctures, to capitalize on the growing\ndemand for CBD-infused products. \n \nDespite its strong position in the industry, Cronos Group faces challenges and\nrisks. The cannabis market is highly regulated, and changes in regulations\ncould impact the company*s operations. Additionally, increased competition,\nboth domestically and internationally, poses a threat to its market share and\nprofitability. \n \nIn conclusion, Cronos Group Inc is a leading Canadian cannabis company with a global presence. It has established itself as an innovative and sustainable player in the industry, with a diverse portfolio of cannabis products. The company*s ongoing investments in research and development, along with strategic partnerships, position it for growth in the evolving cannabis market. | \n \n[ Business Description ](CRON-Business-Description.html) [ Officers &\nDirectors ](CRON-Officers-Directors.html) \n---|--- \n \n[ View Company Supplier ](suppliers_glance.php?code=CRON) | [ View Company Competition ](competition.php?code=CRON) | [ View Company Customers ](markets_glance.php?code=CRON) \n---|---|--- \n \n \n \n[ Help ](https://csimarket.com/help/index.php) \n \n[ About us ](https://csimarket.com/help/About_us.php) \n \n[ Advertise ](https://csimarket.com/help/Advertise.php) \n \n \n--- \n \nCSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings,\nEconomy, News and Research. \nCopyright \ufffd 2025 CSIMarket, Inc. All rights reserved. \n \nIntraday data delayed per exchange requirements. All quotes are in local\nexchange time. Intraday data delayed 15 minutes for Nasdaq, and other\nexchanges. Fundamental and financial data for Stocks, Sector, Industry, and\nEconomic Indicators provided by CSIMarket.com\n\n",
"url": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
"reason": "CSIMarket provides business descriptions and financial data. The page about Cronos Group offers a general overview of the company.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Business description of Cronos Group.",
"url": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
{
"content": {
"metadata": {
"ext_id": "70ba2a28-b902-46ac-be18-b98ae268a8ca",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\n_Leading Companies from Emerging Industries Join Forces to Efficiently Produce\nHigh-Purity Cannabinoids at Scale_\n\nBOSTON and TORONTO , Sept. 4, 2018 /CNW/ - Today, [ Cronos Group\n](https://thecronosgroup.com/) Inc. (NASDAQ:CRON) (TSX: CRON ) (\" **Cronos\nGroup** \"), a geographically diversified and vertically integrated cannabis\ngroup, and [ Ginkgo Bioworks ](https://www.ginkgobioworks.com/) Inc. (\"\n**Ginkgo** \"), the organism company, announced a landmark partnership to\nproduce cultured cannabinoids. Using its platform technology for organism\ndesign and development, Ginkgo will complement Cronos Group's technologies for\nproducing a full spectrum of cannabinoids. As part of this unprecedented deal,\nCronos Group has agreed to issue a specific number of common shares in\ntranches subject to Ginkgo's achievement of certain production milestones.\n\nGinkgo Bioworks (CNW Group/Cronos Group Inc.)\n\nAs two of the leading companies in their respective industries, Cronos Group\nand Ginkgo believe that they are best-suited to unlock the potential of\ninnovation in the cannabis industry. Cronos Group brings a deep understanding\nof the plant's biological structure and function, while Ginkgo brings 10 years\nof experience designing microorganisms for the production of cultured products\nacross pharmaceuticals, agriculture, flavors, fragrances, and more.\n\nCannabinoids span a range of molecules with different properties, and ongoing\nresearch has demonstrated potential medicinal uses for indications such as\nchronic pain, nervous disorders, nausea, weight loss, and some mental\nillnesses. However, many pharmaceutically relevant cannabinoids are present\nonly at very low quantities in the cannabis plant, making them economically\nimpractical, difficult or impossible to extract at high purity and scale. The\nlandmark partnership between Cronos Group and Ginkgo will leverage the\nexpertise of both organizations to solve this challenge and make more\naccessible the benefits of cannabinoids in an economically sustainable way.\n\n\"Cronos Group is building the world's most innovative cannabinoid platform,\"\nsaid Mike Gorenstein , CEO of Cronos Group. \"The potential uses of\ncannabinoids are vast, but the key to successfully bringing cannabinoid-based\nproducts to market is in creating reliable, consistent, and scalable\nproduction of a full spectrum of cannabinoids, not just THC and CBD. We are\nthrilled to partner with Ginkgo; their biological engineering capabilities and\ndisruptive technology platform are unrivaled. Together we can revolutionize\nthe cannabis industry.\"\n\n\"Legal cannabis is a multibillion-dollar industry with no signs of slowing\ndown, but providers will need to innovate to keep up with demand for better\nproducts, including those taking advantage of rare and difficult to extract\ncannabinoids,\" said Jason Kelly , CEO and co-founder of Ginkgo Bioworks.\n\"Engineering strains of yeast that can produce these cannabinoids via\nfermentation is a perfect fit for our organism design platform and we are\nexcited to be working with Cronos Group as they lead the way to high-quality\ncannabinoid treatments.\"\n\n**Partnership Details**\n\nCronos Group's wide-ranging portfolio of cannabis products is empowered by its\ndeep expertise in plant genetics. With access to an array of varietals and a\ndiverse set of production methodologies, Cronos Group has gathered extensive\ndata on cannabinoids and their properties, ultimately learning from and using\nthe plant to generate blueprints for best-in-class, full spectrum cannabinoid\nrecipes.\n\nGinkgo's platform for engineering biology is powered by state-of-the-art\nautomation and custom-built software used to design and print DNA. With the\nworld's largest library of designed DNA sequences, Ginkgo has extensive\nexpertise in the biology of enzymes for the production of molecules used in\nindustries from flavor and fragrance to food to pharmaceuticals. By\ntransferring the DNA sequences for cannabinoid production into yeast, Ginkgo\nexpects to develop strains that produce cultured cannabinoids at high quality\nand purity in a process similar to brewing beer in a microbrewery. In addition\nto allowing for the efficient and scalable production of cannabinoids, the use\nof Ginkgo's platform is expected to unlock access to potentially medically-\nimportant and valuable cannabinoids that are present only in low quantities in\nthe plant.\n\nThe partnership between Ginkgo and Cronos Group will focus on the scalable and\nconsistent production of a wide range of cannabinoids, including THC, CBD and\na variety of other lesser known and rarer products. These cultured cannabinoid\nmolecules are identical to those extracted from the plants grown with\ntraditional methods, but are created by leveraging the power of biological\nmanufacturing via fermentation.\n\n**Partnership Transaction Terms**\n\nUnder the exclusive partnership, Ginkgo will work with Cronos Group on\nresearch and development of microorganisms capable of producing certain target\ncannabinoids in a scalable and highly efficient manner. Cronos Group will fund\ncertain R&D and foundry expenses expected to be approximately US$22 million\nsubject to the achievement of certain milestones. In addition, upon Ginkgo's\ndemonstration that the microorganisms are capable of producing the target\ncannabinoids above a minimum productivity level, Cronos Group will issue up to\napproximately 14.7 million common shares in the aggregate, in accordance with\nthe milestone allocations described below. The common shares allocated were\nbased on the 60-day VWAP for Cronos Group common stock of US$6.81 as of\nJuly 17, 2018 , when the letter of intent was executed by both parties. The\ntransaction had an aggregate value of US$100 million assuming all milestones\nare met. Tranches of these common shares will be issued once each of the\ntarget cannabinoids can be produced for less than US$1,000 per kilogram of\npure cannabinoid at a scale of greater than 200 liters as follows: THC(A),\n20%; CBD(A), 15%; CBC(A), 10%; CBG(A), 10%; THCV(A), 15%; CBGV(A), 10%;\nCBDV(A), 10%; CBCV(A), 10%.\n\nCronos Group will have the exclusive right to use and commercialize the key\npatented intellectual property related to the production of the target\ncannabinoids globally. All R&D work undertaken by Ginkgo will be conducted in\ncompliance with all U.S. federal laws regarding controlled substances and\nGinkgo is coordinating activities closely with both Federal and State\nagencies. Cronos Group intends to produce and distribute the target\ncannabinoids globally and has received confirmation that this method of\nproduction is permitted under the _Cannabis Act_ ( Canada ) \u2013 the legal\nframework that will regulate cannabis in Canada .\n\nThis landmark deal will bring the power of biological manufacturing to the\ncannabis industry, allowing for cannabinoid production at large scale and with\ngreater efficiency than is currently possible with traditional growing and\nextracting methods.\n\n**Analyst/Investor Conference Call and Webcast** \nCronos Group and Ginkgo Bioworks will host a conference call and live webcast\non Tuesday, September 4, 2018 at 8:30 a.m. EST to discuss the landmark\npartnership. Instruction for the conference call are provided below:\n\n_Live Webcast:_ [ https://thecronosgroup.com/investor-relations\n](https://thecronosgroup.com/investor-relations) \n_Toll-free dial-in number:_ (888) 231-8191 _ \nInternational dial-in number: _ (647) 427-7450 \n_Conference ID:_ 9537928\n\nAdditionally, an audio replay of the conference call will be available two\nhours after the call's completion and until 11:59 p.m. EST on September 18,\n2018 . Instructions for the audio replay are provided below:\n\n_Toll-free dial-in number:_ (855) 859-2056 \n_Passcode:_ 9537928\n\n**About Ginkgo Bioworks:** \nGinkgo Bioworks is the organism company, using the power of biology to build\nsustainable products in food, pharma, manufacturing, and more. Using\nsophisticated software and state of the art automation,\n\nGinkgo's powerful platform for genetic engineering is making biology easier to\nengineer, enabling new products to be renewably manufactured with biology. For\nmore information, visit [ www.ginkgobioworks.com\n](http://www.ginkgobioworks.com/) .\n\n**About Cronos Group: \n** Cronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across four continents. Cronos Group operates two\nwholly-owned Canadian licensed producers regulated under Health Canada's\nAccess to Cannabis for Medical Purposes Regulations: Peace Naturals Project\nInc., which was the first non-incumbent medical cannabis license granted by\nHealth Canada, and Original BC Ltd., which is based in the Okanagan Valley,\nBritish Columbia . Cronos Group has multiple international production and\ndistribution platforms across five continents. Cronos Group intends to\ncontinue to rapidly expand its global footprint as it focuses on building an\ninternational iconic brand portfolio and develop disruptive intellectual\nproperty. Cronos Group is committed to building industry leading companies\nthat transform the perception of cannabis and responsibly elevate the consumer\nexperience.\n\n**Forward-looking statements \n** This news release contains \"forward-looking information\" and \"forward-\nlooking statements\" within the meaning of applicable Canadian and U.S.\nsecurities laws. All information contained herein that is not clearly\nhistorical in nature may constitute forward-looking information. In some\ncases, forward-looking statements can be identified by words or phrases such\nas \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify forward-looking statements. Some of the\nforward-looking statements contained in this press release include Cronos\nGroup's expectations regarding the potential success of, and the costs and\nbenefits associated with, its partnership with Ginkgo, expectations about the\ndevelopment of the cannabis industry and potential demand for cultured\ncannabinoids, expectations of the regulatory framework for cultured\ncannabinoids as well as the Cronos Group's intention to continue to rapidly\nexpand its global footprint, build an international iconic brand portfolio and\ndevelop disruptive intellectual property. Forward-looking statements are\nnecessarily based upon a number of estimates and assumptions that, while\nconsidered reasonable by management, are inherently subject to significant\nbusiness, economic and competitive risks, uncertainties and contingencies that\nmay cause actual financial results, performance or achievements to be\nmaterially different from the estimated future results, performance or\nachievements expressed or implied by those forward-looking statements and the\nforward-looking statements are not guarantees of future performance. A\ndiscussion of some of the material risks applicable to Cronos Group can be\nfound in its current MD&A and Annual Information Form, both of which have been\nfiled on SEDAR and can be accessed at [ www.sedar.com ](http://www.sedar.com/)\n. The forward-looking information included in this news release is made as of\nthe date of this news release and, except as required by law, Cronos Group\ndisclaims any obligation to update or revise any forward-looking statements.\nReaders are cautioned not to put undue reliance on these forward-looking\nstatements.\n\nSOURCE Cronos Group Inc.\n\nThe Cronos Group, Anna Shlimak, Investor Relations, Tel: (416) 504-0004, [\n[email protected] ](/cdn-cgi/l/email-protection) ; Ginkgo Bioworks, Grace\nEmery, Media relations, 347-230-6640, [ [email protected] ](/cdn-cgi/l/email-\nprotection)\n\n#### Related Links\n\n[ thecronosgroup.com ](http://thecronosgroup.com \"Link to\nhttp://thecronosgroup.com\") \n\n### Modal title\n\n## Organization Profile\n\n### [ Cronos Group Inc. ](/news/cronos-group-inc/)\n\n## Related Organization(s)\n\n### [ Ginkgo Bioworks ](/news/ginkgo-bioworks/)\n\n## Contact Cision\n\n * [ 866-245-2317 ](tel:866-245-2317) from 8 AM - 10 PM ET \n\n * [ Become a Client ](/contact-us/ \"Become a Client\")\n * [ Request a Demo ](/request-a-demo/ \" Request a Demo \")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \" Editorial Bureaus \")\n * [ Partnerships ](/contact-us/partnerships/ \" Partnerships \")\n * [ General Enquiries ](/general-inquiries/ \" General Enquiries \")\n * [ Media ](/contact-us/media/ \" Media\")\n\n[ ](https://www.linkedin.com/company/cisioncanada/ \"LinkedIn\")\n\n## Products\n\n * [ Cision Communications Cloud\u00ae ](https://www.newswire.ca/products/communications-cloud \"Cision Communications Cloud\u00ae\")\n * [ Media Monitoring ](https://www.cision.ca/monitoring-analytics/online/ \"Media Monitoring\")\n * [ Content Distribution ](https://www.newswire.ca/products/content-distribution \"Content Distribution\")\n * [ Multimedia Distribution ](https://www.newswire.ca/products/multimedia-distribution-options \"Multimedia Distribution\")\n * [ Measurement & Analytics ](https://www.newswire.ca/products/Media-Measurement--Analytics \"Measurement & Analytics\")\n * [ Investor Relations ](https://www.newswire.ca/products/investor-relations \"Investor Relations\")\n\n## About\n\n * [ About Cision Canada ](http://cnw.en.mediaroom.com/aboutus/ \"About Cision Canada\")\n * [ About Cision ](http://www.cision.ca/ \"About Cision\")\n * [ Media Partners ](https://www.newswire.ca/contact-us/media-partners.html \"Media Partners\")\n * [ Careers ](https://www.cision.ca/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.ca/about/accessibility/ \"Accessibility Statement\")\n * \n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/en/ \"Canada\")\n * [ Czech ](https://www.prnewswire.com/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](https://www.prnewswire.com/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](https://www.prnewswire.com/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](https://www.prnewswire.com/fr/communiques-de-presse/ \"France\")\n * [ Germany ](https://www.prnewswire.com/de/pressemitteilungen/ \"Germany\")\n * [ India ](https://www.prnewswire.com/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](https://www.prnewswire.com/il/news-releases/ \"Israel\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](https://www.prnewswire.com/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](https://www.prnewswire.com/nl/persberichten/ \"Netherlands\")\n * [ Norway ](https://www.prnewswire.com/no/pressemeldinger/ \"Norway\")\n * [ Poland ](https://www.prnewswire.com/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](https://www.prnewswire.com/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](https://www.prnewswire.com/ru/press-releases/ \"Russia\")\n * [ Slovakia ](https://www.prnewswire.com/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](https://www.prnewswire.com/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](https://www.prnewswire.com/sv/pressmeddelanden/ \"Sweden\")\n * [ United States ](https://www.prnewswire.com/ \"United States\")\n * [ Vietnam ](https://www.prnewswire.com/vn/ \"Vietnam\")\n\n## My Services\n\n * [ All News Releases ](/news-releases/news-releases-list/ \"All News Releases\")\n * [ Online Member Centre \n](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre<br />\n\n\")\n\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud\u00ae ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\u00ae\")\n * [ my CNW \n](/mycnw/login/ \"my CNW<br />\n\n\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact Cision ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](http://cnw.en.mediaroom.com/aboutus/)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Centre ](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre\")\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\")\n * [ my CNW ](/mycnw/login/ \"my CNW\")\n\n[ __ 877-269-7890 \nfrom 8 AM - 10 PM ET ](tel:877-269-7890 \"Contact Us\")\n\n * [ Terms of Use ](http://cnw.en.mediaroom.com/privacy-terms-of-use \"Terms of Use\")\n * [ Information Security Policy ](/cision-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\nCopyright \u00a9 2025 CNW Group Ltd. All Rights Reserved. A Cision company.\n\n",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"reason": "This is a press release from Newswire.ca announcing a partnership between Cronos Group and Ginkgo Bioworks. It provides factual information about the company's activities and partnerships.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' waste management water consumption",
"summary": "Press release about Cronos Group and Ginkgo Bioworks partnership.",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
{
"content": {
"metadata": {
"ext_id": "14a3f685-6b73-4a77-9f55-1e4acd772d4c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\nTORONTO and BOSTON , June 21, 2022 /PRNewswire/ -- _[ Cronos Group\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3225416693&u=https%3A%2F%2Fthecronosgroup.com%2F&a=Cronos+Group)\n_ Inc. (NASDAQ: CRON ) (TSX: CRON) (\"Cronos\"), an innovative global\ncannabinoid company, and _[ Ginkgo Bioworks\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2768808416&u=https%3A%2F%2Fwww.ginkgobioworks.com%2F&a=Ginkgo+Bioworks)\n_ (NYSE: DNA ) (\"Ginkgo\"), the leading horizontal platform for cell\nprogramming, today announced the achievement of the third target productivity\nmilestone in their partnership to produce eight cultured cannabinoids. Using\nGinkgo's platform for organism design and development, Cronos has successfully\nachieved the productivity target for tetrahydrocannabivarin (THCV), a\ncannabinoid hypothesized to reduce the appetite-enhancing property of THC.\nAccess to additional rare cannabinoids will support Cronos' innovation\npipeline and commercialization strategy.\n\nLaunched in 2018 with the goal of accessing rare molecules in the cannabis\nplant to create innovative and differentiated products that would otherwise be\ncost-prohibitive, the partnership between Cronos and Ginkgo aims to produce\ncultured cannabinoids at industrial scale. _[ The program\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3611081941&u=https%3A%2F%2Fwww.ginkgobioworks.com%2Four-\nwork%2Fproducing-cultured-cannabinoids%2F&a=The+program) _ combines Cronos'\ndeep understanding of the biological structure and function of cannabinoids\nwith Ginkgo's vast experience designing microorganisms for the production of\ncultured products across pharmaceuticals, agriculture and more.\n\nIn August 2021 , Ginkgo and Cronos _[ announced\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3645716409&u=https%3A%2F%2Finvestors.ginkgobioworks.com%2Fnews%2Fnews-\ndetails%2F2021%2FCronos-Group-and-Ginkgo-Bioworks-Announce-Achievement-of-\nEquity-Milestone-in-Partnership-to-Produce-Cultured-\nCannabinoids%2Fdefault.aspx&a=announced) _ the achievement of its first equity\nmilestone for cannabigerolic acid (CBGA). In October 2021 , Cronos _[\nlaunched\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=615659090&u=https%3A%2F%2Fir.thecronosgroup.com%2Fnews-\nreleases%2Fnews-release-details%2Fcronos-group-launches-its-first-cultured-\ncannabinoid-product&a=launched) _ its first cultured CBG product, SPINACH\nFEELZ\u2122 _[ Chill Bliss 2:1 THC|CBG gummy\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3626722007&u=https%3A%2F%2Fspinachcannabis.com%2Fforms%2Fedibles%2Fchill-\nbliss-gummy%2F&a=Chill+Bliss+2%3A1+THC%7CCBG+gummy) _ , which quickly gained\nconsumer awareness, and according to Hifyre data has achieved 2.4% market\nshare in the gummies category in Canada as of the week-ended June 11, 2022\n. Cronos went on to launch its SPINACH FEELZ\u2122 _[ Chill Bliss 7:1 THC|CBG vape\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2118616123&u=https%3A%2F%2Fspinachcannabis.com%2Fforms%2Fchill-\nbliss-vape%2F&a=Chill+Bliss+7%3A1+THC%7CCBG+vape) _ in January 2022 .\n\n\"Continuing to hit these productivity milestones in partnership with Ginkgo\nfuels our innovation pipeline focused on creating borderless products\nutilizing rare cannabinoids that amplify and differentiate the consumer\nexperience,\" said Mike Gorenstein , Chairman, President and CEO of Cronos.\n\"We are excited about the possibilities that THCV is expected to give us and\nlook forward to getting more products with rare cannabinoids into market.\"\n\n\"Working with Cronos to develop innovations in cannabis is an opportunity for\nus to apply synthetic biology in a way that is helping bring the cannabis\nindustry forward and make a real impact on its market and the customers it\nserves,\" said Jason Kelly, CEO and cofounder of Ginkgo Bioworks. \"The progress\nwe've made thus far in our collaboration is a true testament to both the\npotential of synthetic biology and the world-class teams at Cronos and\nGinkgo.\"\n\nAs a result of the achievement of the final productivity target for THCV,\nCronos has issued to Ginkgo approximately 2.2 million common shares.\n\n**About Cronos \n** Cronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae , Lord\nJones \u00ae , Happy Dance \u00ae and PEACE+\u2122. For more information about Cronos and\nits brands, please visit: _[ thecronosgroup.com\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=3335548803&u=https%3A%2F%2Fthecronosgroup.com%2F&a=thecronosgroup.com)\n_ .\n\n**CRONOS MEDIA CONTACT:** \n_[ [email protected] ](/cdn-cgi/l/email-\nprotection#8de0e8e9e4eca3ffe8e1ecf9e4e2e3fecdf9e5e8eeffe2e3e2feeaffe2f8fda3eee2e0)\n_\n\n**CRONOS INVESTOR CONTACT:** \n_[ [email protected] ](/cdn-cgi/l/email-\nprotection#bcd5d2cad9cfc8d3ce92ced9d0ddc8d5d3d2cffcc8d4d9dfced3d2d3cfdbced3c9cc92dfd3d1)\n_\n\n**About Ginkgo Bioworks \n** Ginkgo is building a platform to enable customers to program cells as\neasily as we can program computers. The company's platform is enabling\nbiotechnology applications across diverse markets, from food and agriculture\nto industrial chemicals to pharmaceuticals. Ginkgo has also actively supported\na number of COVID-19 response efforts, including K-12 pooled testing, vaccine\nmanufacturing optimization and therapeutics discovery. For more information,\nvisit _[ www.ginkgobioworks.com\n](https://c212.net/c/link/?t=0&l=en&o=3572550-1&h=2356245785&u=http%3A%2F%2Fwww.ginkgobioworks.com%2F&a=www.ginkgobioworks.com)\n_ .\n\n**GINKGO BIOWORKS INVESTOR CONTACT: \n** [ [email protected] ](/cdn-cgi/l/email-\nprotection#99f0f7effceaedf6ebead9fef0f7f2fef6fbf0f6eef6ebf2eab7faf6f4)\n\n**GINKGO BIOWORKS MEDIA CONTACT: \n** [ [email protected] ](/cdn-cgi/l/email-\nprotection#cdbdbfa8bebe8daaa4a3a6aaa2afa4a2baa2bfa6bee3aea2a0)\n\n**Forward-looking Statements of Cronos Group Inc. \n** This press release may contain information that may constitute \"forward-\nlooking information\" or \"forward-looking statements\" within the meaning of\napplicable Canadian and U.S. securities laws (collectively, \"Forward-looking\nStatements\"). All information contained herein that is not clearly historical\nin nature may constitute Forward-looking Statements. In some cases, Forward-\nlooking Statements can be identified by the use of forward-looking terminology\nsuch as \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify Forward-looking Statements. Forward-Looking\nStatements include estimates, plans, expectations, opinions, forecasts,\nprojections, targets, guidance or other statements that are not statements of\nhistorical fact. Forward-Looking Statements include, but are not limited to,\nstatements with respect to: Cronos' expectations regarding the potential\nsuccess of, and the costs and benefits associated with, its partnership with\nGinkgo; expectations about the development of the cannabis industry and\npotential demand for cultured cannabinoids; Cronos' commercialization and\nplanned THCV product launch; the partnership's aim to develop eight cultured\ncannabinoids; Cronos' and Ginkgo's positioning to elevate the cannabis\nindustry through cannabinoid and product innovation to unlock the next\ngeneration of its potential; the use of Cronos' and Ginkgo's combined\ncapabilities to make the benefits of cannabinoids more accessible to\nconsumers; and Cronos' intention to build an international iconic brand\nportfolio and develop disruptive intellectual property. Forward-looking\nStatements are necessarily based upon a number of estimates and assumptions\nthat, while considered reasonable by management, are inherently subject to\nsignificant business, economic and competitive risks, financial results,\nresults, performance or achievements expressed or implied by those Forward-\nlooking Statements and the Forward-looking Statements are not guarantees of\nfuture performance. A discussion of some of the material risks applicable to\nthe Company can be found in the Cronos' Annual Report on Form 10-K for the\nyear ended December 31, 2021 and Quarterly Report on Form 10-Q for the\nperiod ended March 31, 2022 , both have which been filed on SEDAR and EDGAR\nand can be accessed at [ www.sedar.com ](http://www.sedar.com) and [\nwww.sec.gov/edgar ](http://www.sec.gov/edgar) , respectively. Any Forward-\nlooking Statement included in this press release is made as of the date of\nthis press release and, except as required by law, Cronos disclaims any\nobligation to update or revise any Forward-looking Statement. Readers are\ncautioned not to put undue reliance on any Forward-looking Statement.\n\n**Forward-Looking Statements of Ginkgo Bioworks \n** This press release contains certain forward-looking statements within the\nmeaning of the federal securities laws, including statements regarding the\npotential success of the partnership and Ginkgo's cell programming platform.\nThese forward-looking statements generally are identified by the words\n\"believe,\" \"can,\" \"project,\" \"potential,\" \"expect,\" \"anticipate,\" \"estimate,\"\n\"intend,\" \"strategy,\" \"future,\" \"opportunity,\" \"plan,\" \"may,\" \"should,\"\n\"will,\" \"would,\" \"will be,\" \"will continue,\" \"will likely result,\" and similar\nexpressions. Forward-looking statements are predictions, projections and other\nstatements about future events that are based on current expectations and\nassumptions and, as a result, are subject to risks and uncertainties. Many\nfactors could cause actual future events to differ materially from the\nforward-looking statements in this press release, including but not limited\nto: (i) the effect of Ginkgo's business combination with Soaring Eagle\nAcquisition Corp. (\"Soaring Eagle\") on Ginkgo's business relationships,\nperformance, and business generally, (ii) risks that the business combination\ndisrupts current plans of Ginkgo and potential difficulties in Ginkgo's\nemployee retention, (iii) the outcome of any legal proceedings that may be\ninstituted against Ginkgo related to its business combination with Soaring\nEagle, (iv) volatility in the price of Ginkgo's securities now that it is a\npublic company due to a variety of factors, including changes in the\ncompetitive and highly regulated industries in which Ginkgo operates and plans\nto operate, variations in performance across competitors, changes in laws and\nregulations affecting Ginkgo's business and changes in the combined capital\nstructure, (v) the ability to implement business plans, forecasts, and other\nexpectations after the completion of the business combination, and identify\nand realize additional opportunities, (vi) the risk of downturns in demand for\nproducts using synthetic biology, (vii) the unpredictability of the duration\nof the COVID-19 pandemic and the demand for COVID-19 testing and the\ncommercial viability of our COVID-19 testing business, and (viii) changes to\nthe biosecurity industry, including due to advancements in technology,\nemerging competition and evolution in industry demands, standards and\nregulations. The foregoing list of factors is not exhaustive. You should\ncarefully consider the foregoing factors and the other risks and uncertainties\ndescribed in the \"Risk Factors\" section of Ginkgo's quarterly report on Form\n10-Q filed with the U.S. Securities and Exchange Commission (the \"SEC\") on\nMay 16, 2022 and other documents filed by Ginkgo from time to time with the\nSEC. These filings identify and address other important risks and\nuncertainties that could cause actual events and results to differ materially\nfrom those contained in the forward-looking statements. Forward-looking\nstatements speak only as of the date they are made. Readers are cautioned not\nto put undue reliance on forward-looking statements, and Ginkgo assumes no\nobligation and does not intend to update or revise these forward-looking\nstatements, whether as a result of new information, future events, or\notherwise. Ginkgo does not give any assurance that it will achieve its\nexpectations.\n\nSOURCE Ginkgo Bioworks\n\n## WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM?\n\n440k+ \nNewsrooms & \nInfluencers\n\n9k+ \nDigital Media \nOutlets\n\n270k+ \nJournalists \nOpted In\n\n[ GET STARTED ](https://www.prnewswire.com/account/online-membership-\nform/?site_refer=press-release-widget)\n\n### Modal title\n\n## Also from this source\n\n[ ](ginko-automation-partners-with-aura-genetics-to-accelerate-direct-to-\nconsumer-testing-and-innovation-302433812.html)\n\n### [ Ginkgo Automation Partners with Aura Genetics to Accelerate Direct-to-\nConsumer Testing and Innovation Ginkgo Bioworks (NYSE: DNA), which is\nbuilding the leading platform for cell programming and biosecurity, today\nannounced that Ginkgo Automation will ... ](ginko-automation-partners-with-\naura-genetics-to-accelerate-direct-to-consumer-testing-and-\ninnovation-302433812.html)\n\n[ ](ginkgo-bioworks-teams-up-with-partners-on-arpa-h-project-to-stabilize-\npharmaceutical-supply-chains--using-amber-waves-of-grain-302424938.html)\n\n### [ Ginkgo Bioworks Teams Up with Partners on ARPA-H Project to Stabilize\nPharmaceutical Supply Chains - Using Amber Waves of Grain Ginkgo Bioworks\n(NYSE: DNA), which is building the leading platform for cell programming and\nbiosecurity, today announced a new contract with the... ](ginkgo-bioworks-\nteams-up-with-partners-on-arpa-h-project-to-stabilize-pharmaceutical-supply-\nchains--using-amber-waves-of-grain-302424938.html)\n\n[ More Releases From This Source ](/news/ginkgo-bioworks/)\n\n## Explore\n\n[ [ Cannabis ](/news-releases/consumer-products-retail-latest-news/cannabis-\nlist/) ](/news-releases/consumer-products-retail-latest-news/cannabis-list/)\n\n[ [ Retail ](/news-releases/consumer-products-retail-latest-news/retail-list/)\n](/news-releases/consumer-products-retail-latest-news/retail-list/)\n\n[ [ New Products & Services ](/news-releases/general-business-latest-news/new-\nproducts-services-list/) ](/news-releases/general-business-latest-news/new-\nproducts-services-list/)\n\n[ News Releases in Similar Topics ](/news-releases/)\n\n## Contact PR Newswire\n\n * [ Call PR Newswire at 888-776-0942 ](tel:Call%20PR%20Newswire%20at%20888-776-0942) from 8 AM - 9 PM ET \n\n * [ Chat with an Expert ](javascript://Chat)\n\n * [ General Inquiries ](/contact-us/general-inquiries/ \"General Inquiries\")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \"Editorial Bureaus\")\n * [ Partnerships ](/contact-us/partnerships/ \"Partnerships\")\n * [ Media Inquiries ](/contact-us/media-inquiries/ \"Media Inquiries\")\n * [ Worldwide Offices ](/contact-us/worldwide-offices/ \"Worldwide Offices\")\n\n[ ](https://twitter.com/PRNewswire \"Twitter\") [ ](https://www.facebook.com/PR-\nNewswire-26247320522/ \"Facebook\") [ ](https://www.linkedin.com/company/pr-\nnewswire/ \"LinkedIn\")\n\n## Products\n\n * [ For Marketers ](/products/marketing/ \"For Marketers\")\n * [ For Public Relations ](/products/public-relations/ \"For Public Relations\")\n * [ For IR & Compliance ](/products/ir-compliance/ \"For IR & Compliance\")\n * [ For Agency ](/products/agency/ \"For Agency\")\n * [ All Products ](/products/all-products/ \"All Products\")\n\n## About\n\n * [ About PR Newswire ](/about-pr-newswire/ \"About PR Newswire\")\n * [ About Cision ](https://www.cision.com/us/?utm_medium=website&utm_source=prnewswire&utm_content=cishomepage&utm_campaign=prnewswire \"About Cision\")\n * [ Become a Publishing Partner ](/contact-us/prnewswire-partners/ \"Become a Publishing Partner\")\n * [ Become a Channel Partner ](/contact-us/become-a-partner/ \"Become a Channel Partner\")\n * [ Careers ](https://www.cision.com/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/ \"Canada\")\n * [ Czech ](/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](/fr/communiques-de-presse/ \"France\")\n * [ Germany ](/de/pressemitteilungen/ \"Germany\")\n * [ India ](/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](/il/news-releases/ \"Israel\")\n * [ Italy ](/it/comunicati-stampa/ \"Italy\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](/nl/persberichten/ \"Netherlands\")\n * [ Norway ](/no/pressemeldinger/ \"Norway\")\n * [ Poland ](/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](/ru/press-releases/ \"Russia\")\n * [ Slovakia ](/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](/sv/pressmeddelanden/ \"Sweden\")\n * [ United Kingdom ](https://www.prnewswire.co.uk/ \"United Kingdom\")\n * [ Vietnam ](/vn/home/ \"Vietnam\")\n\n## My Services\n\n * [ All New Releases ](/news-releases/ \"All New Releases\")\n * [ Online Member Center ](https://portal.prnewswire.com/Login.aspx \"Online Member Center\")\n * [ ProfNet ](https://profnet.prnewswire.com/ProfNetHome/What-is-Profnet.aspx \"ProfNet\")\n * [ Data Privacy ](https://gdpr.cision.com/ \"Data Privacy\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact PR Newswire ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](https://prnewswire.mediaroom.com/index.php)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Center ](https://portal.prnewswire.com/Login.aspx \"Online Member Center\")\n * [ ProfNet ](https://profnet.prnewswire.com/ProfNetHome/What-is-Profnet.aspx \"ProfNet\")\n\n[ __ Call PR Newswire at \n888-776-0942 ](tel:Call%20PR%20Newswire%20at \"Contact Us\")\n\n * [ Terms of Use ](/terms-of-use/ \"Terms of Use\")\n * [ Privacy Policy ](https://www.cision.com/legal/privacy-policy/ \"Privacy Policy\")\n * [ Information Security Policy ](/prn-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ RSS ](/rss/ \"RSS\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n\nCopyright \u00a9 2025 [ Cision\n](https://www.cision.com/us/?utm_medium=website&utm_source=prnewswire&utm_content=cishomepage&utm_campaign=prnewswire\n\"Cision\") US Inc.\n\n[ ](javascript://Chat)\n\n",
"url": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
"reason": "This is a press release from a reputable source (PR Newswire) announcing a milestone achievement by Cronos Group. The information is likely accurate but may present a slightly positive view.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos Group and Ginkgo Bioworks announce achievement of THCV equity milestone.",
"url": "https://www.prnewswire.com/news-releases/cronos-group-and-ginkgo-bioworks-announce-achievement-of-thcv-equity-milestone-301571428.html"
},
{
"content": {
"metadata": {
"ext_id": "75dc73cf-f832-4867-9183-6901d6413182",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newcannabisventures.com/cronos-to-build-massive-greenhouse-facility-in-ontario/"
},
"page_content": "Please enable cookies.\n\n# Sorry, you have been blocked\n\n## You are unable to access newcannabisventures.com\n\n## Why have I been blocked?\n\nThis website is using a security service to protect itself from online\nattacks. The action you just performed triggered the security solution. There\nare several actions that could trigger this block including submitting a\ncertain word or phrase, a SQL command or malformed data.\n\n## What can I do to resolve this?\n\nYou can email the site owner to let them know you were blocked. Please include\nwhat you were doing when this page came up and the Cloudflare Ray ID found at\nthe bottom of this page.\n\nCloudflare Ray ID: **9355f1b8fe7ec262** \u2022 Your IP: 2600:1900:0:3700::301 \u2022\nPerformance & security by [ Cloudflare ](https://www.cloudflare.com/5xx-\nerror-landing)\n\n",
"url": "https://www.newcannabisventures.com/cronos-to-build-massive-greenhouse-facility-in-ontario/"
},
"reason": "New Cannabis Ventures is a specialized news source covering the cannabis industry. The information is specific to Cronos Group's activities and likely accurate, but the site may have a slight industry bias.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos to build massive greenhouse facility in Ontario.",
"url": "https://www.newcannabisventures.com/cronos-to-build-massive-greenhouse-facility-in-ontario/"
},
{
"content": {
"metadata": {
"ext_id": "18aefa01-ad63-4b53-a956-ef7d162e419c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nFebruary 27, 2025 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of the Peace Naturals Campus; \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n* * *\n\n## Tags\n\n[ Cannabis ](/en/search/tag/cannabis \"Cannabis\") [ CRON ](/en/search/tag/cron\n\"CRON\") [ Cronos ](/en/search/tag/cronos \"Cronos\") [ Cronos Group\n](/en/search/tag/cronos%2520group \"Cronos Group\")\n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results. Press releases are generally reliable for factual financial reporting, though they present the company's perspective.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos Group Reports 2024 Fourth Quarter and Full Year Results.",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "ce3ad13c-8d28-4ffb-83e6-7deb3d7817e5",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketwatch.com/investing/stock/cron"
},
"page_content": "Please enable JS and disable any ad blocker\n\n",
"url": "https://www.marketwatch.com/investing/stock/cron"
},
"reason": "MarketWatch is a reputable source for financial data and news. The page provides stock information and related news for Cronos Group, offering reliable financial data and market analysis.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "MarketWatch provides stock information and related news for Cronos Group.",
"url": "https://www.marketwatch.com/investing/stock/cron"
},
{
"content": {
"metadata": {
"ext_id": "90559073-b5d8-4cbd-834a-bf2e4a75b91b",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501311.d63b61c\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"reason": "This is a filing from the U.S. Securities and Exchange Commission (SEC). SEC filings are highly reliable sources of information about publicly traded companies like Cronos Group.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "SEC filing for Cronos Group.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
{
"content": {
"metadata": {
"ext_id": "fcff34a8-9762-47aa-af07-9e580583040e",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://partner.microsoft.com/en-bd/case-studies/cronos"
},
"page_content": "\n\n",
"url": "https://partner.microsoft.com/en-bd/case-studies/cronos"
},
"reason": "This is a case study published on the Microsoft Partner Network website. It describes how Cronos Group uses Microsoft technologies. The information is likely accurate but may be presented in a way that promotes Microsoft products.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Case study on how Cronos Group uses Microsoft technologies.",
"url": "https://partner.microsoft.com/en-bd/case-studies/cronos"
},
{
"content": {
"metadata": {
"ext_id": "567172ac-2224-4b49-b234-5405f6c85f72",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.stocktitan.net/news/CRON/cronos-group-reports-2024-third-quarter-m7eusx8000jz.html"
},
"page_content": " 1. [ Home ](/)\n 2. [ News ](/news/live.html)\n 3. [ CRON ](/news/CRON/)\n 4. Cronos Group Reports 2024 Third Quarter Results \n\n##### [ Trending News __ ](/news/trending.html)\n\n[ ](/news/ZENA/ \" ZENA Stock News\")\n\n[ ZENA ](/news/ZENA/)\n\n[ ZenaTech\u2019s ZenaDrone Granted FAA Part 137 Approval for Agricultur...\n](/news/ZENA/zena-tech-s-zena-drone-granted-faa-part-137-approval-\nfor-61f0zwck5oj3.html)\n\n[ ](/news/ELAB/ \" ELAB Stock News\")\n\n[ ELAB ](/news/ELAB/)\n\n[ Northstrive Biosciences Announces Positive FDA Response Supportin...\n](/news/ELAB/northstrive-biosciences-announces-positive-fda-response-\nsupporting-a-4vmy4emfa7wu.html)\n\n[ ](/news/LRHC/ \" LRHC Stock News\")\n\n[ LRHC ](/news/LRHC/)\n\n[ La Rosa Holdings Corp. Announces Authorization of Stock Buyback P...\n](/news/LRHC/la-rosa-holdings-corp-announces-authorization-of-stock-\nbuyback-f5vgudr2akqg.html)\n\n[ ](/news/ARBE/ \" ARBE Stock News\")\n\n[ ARBE ](/news/ARBE/)\n\n[ HiRain Launches LRR615, Production-Intent Imaging Radar System Ba...\n](/news/ARBE/hi-rain-launches-lrr615-production-intent-imaging-radar-system-\nbased-l3u7k3c7z7jp.html)\n\n[ ](/news/ONCY/ \" ONCY Stock News\")\n\n[ ONCY ](/news/ONCY/)\n\n[ Oncolytics Biotech\u00ae to Showcase New Pancreatic Cancer Data at ASC...\n](/news/ONCY/oncolytics-biotech-to-showcase-new-pancreatic-cancer-data-at-\nasco-fgscyjq04cn1.html)\n\n[ ](/news/IPHA/ \" IPHA Stock News\")\n\n[ IPHA ](/news/IPHA/)\n\n[ Innate Pharma Announces \u20ac15M Investment by Sanofi ](/news/IPHA/innate-\npharma-announces-15m-investment-by-4qohscfvtl47.html)\n\n[ ](/news/ZENA/ \" ZENA Stock News\")\n\n[ ZENA ](/news/ZENA/)\n\n[ ZenaTech\u2019s ZenaDrone Granted FAA Part 137 Approval for Agricultur...\n](/news/ZENA/zena-tech-s-zena-drone-granted-faa-part-137-approval-\nfor-61f0zwck5oj3.html)\n\n[ ](/news/ELAB/ \"Elevai Labs Inc. ELAB Stock News\")\n\n[ ELAB ](/news/ELAB/)\n\n[ Northstrive Biosciences Announces Positive FDA Response Supportin...\n](/news/ELAB/northstrive-biosciences-announces-positive-fda-response-\nsupporting-a-4vmy4emfa7wu.html)\n\n[ ](/news/LRHC/ \"La Rosa Holdings Corp LRHC Stock News\")\n\n[ LRHC ](/news/LRHC/)\n\n[ La Rosa Holdings Corp. Announces Authorization of Stock Buyback P...\n](/news/LRHC/la-rosa-holdings-corp-announces-authorization-of-stock-\nbuyback-f5vgudr2akqg.html)\n\n[ ](/news/ARBE/ \"Arbe Robotics Ltd ARBE Stock News\")\n\n[ ARBE ](/news/ARBE/)\n\n[ HiRain Launches LRR615, Production-Intent Imaging Radar System Ba...\n](/news/ARBE/hi-rain-launches-lrr615-production-intent-imaging-radar-system-\nbased-l3u7k3c7z7jp.html)\n\n[ ](/news/ONCY/ \"Oncolytics Biotech, Inc. ONCY Stock News\")\n\n[ ONCY ](/news/ONCY/)\n\n[ Oncolytics Biotech\u00ae to Showcase New Pancreatic Cancer Data at ASC...\n](/news/ONCY/oncolytics-biotech-to-showcase-new-pancreatic-cancer-data-at-\nasco-fgscyjq04cn1.html)\n\n[ ](/news/IPHA/ \"Innate Pharma IPHA Stock News\")\n\n[ IPHA ](/news/IPHA/)\n\n[ Innate Pharma Announces \u20ac15M Investment by Sanofi ](/news/IPHA/innate-\npharma-announces-15m-investment-by-4qohscfvtl47.html)\n\n# Cronos Group Reports 2024 Third Quarter Results\n\nRhea-AI Impact\n\n(Low)\n\nRhea-AI Sentiment\n\n(Neutral)\n\nTags\n\n[ earnings ](/news/earnings.html)\n\nRhea-AI Summary\n\n__\n\n * English \n * French \n * German \n * Italian \n * Korean \n * Spanish \n\n**Cronos Group (NASDAQ: CRON)** reported strong Q3 2024 results with net\nrevenue increasing 38% year-over-year to **$34.3 million** . The Spinach\u00ae\nbrand became the #1 cannabis brand in Canada, leading in edibles with 17.2%\nmarket share. The company maintains a robust balance sheet with **$862\nmillion** in cash and cash equivalents. Cronos completed its investment in\nCronos GrowCo, gaining majority board control and consolidating results from\nJuly 2024. Despite a gross profit decrease of 9% to $3.6 million, Adjusted\nGross Profit increased 170% to $10.7 million, and Adjusted EBITDA improved by\n60% to $(6.0) million.\n\n**Cronos Group (NASDAQ: CRON)** ha riportato risultati solidi per il terzo\ntrimestre del 2024, con ricavi netti in aumento del 38% rispetto all'anno\nprecedente, raggiungendo **34,3 milioni di dollari** . Il marchio Spinach\u00ae \u00e8\ndiventato il marchio di cannabis n. 1 in Canada, liderando nel settore degli\nalimenti con una quota di mercato del 17,2%. L'azienda mantiene un solido\nbilancio con **862 milioni di dollari** in contante e disponibilit\u00e0 liquide.\nCronos ha completato il suo investimento in Cronos GrowCo, ottenendo il\ncontrollo di maggioranza del consiglio e consolidando i risultati a partire da\nluglio 2024. Nonostante una diminuzione del profitto lordo del 9% a 3,6\nmilioni di dollari, il profitto lordo rettificato \u00e8 aumentato del 170% a 10,7\nmilioni di dollari, e l'EBITDA rettificato \u00e8 migliorato del 60% a (6,0)\nmilioni di dollari.\n\n**Cronos Group (NASDAQ: CRON)** report\u00f3 resultados s\u00f3lidos para el tercer\ntrimestre de 2024, con ingresos netos aumentando un 38% interanual a **$34.3\nmillones** . La marca Spinach\u00ae se convirti\u00f3 en la marca de cannabis n\u00famero 1\nen Canad\u00e1, liderando en comestibles con una participaci\u00f3n de mercado del\n17.2%. La compa\u00f1\u00eda mantiene un balance s\u00f3lido con **$862 millones** en\nefectivo y equivalentes de efectivo. Cronos complet\u00f3 su inversi\u00f3n en Cronos\nGrowCo, obteniendo el control mayoritario de la junta y consolidando\nresultados desde julio de 2024. A pesar de una disminuci\u00f3n del 9% en el\nbeneficio bruto a $3.6 millones, el beneficio bruto ajustado aument\u00f3 un 170% a\n$10.7 millones, y el EBITDA ajustado mejor\u00f3 en un 60% a $(6.0) millones.\n\n**\ud06c\ub85c\ub178\uc2a4 \uadf8\ub8f9 (NASDAQ: CRON)** \uc740 2024\ub144 3\ubd84\uae30 \uc2e4\uc801\uc774 \uac15\uc138\ub97c \ubcf4\uc600\uc73c\uba70, \uc21c\uc218\uc775\uc774 \uc804\ub144 \ub300\ube44 38% \uc99d\uac00\ud558\uc5ec\n**$34.3 million** \uc5d0 \ub2ec\ud588\uc2b5\ub2c8\ub2e4. Spinach\u00ae \ube0c\ub79c\ub4dc\ub294 \uce90\ub098\ub2e4\uc5d0\uc11c 1\uc704 \ub300\ub9c8\ucd08 \ube0c\ub79c\ub4dc\uac00 \ub418\uc5c8\uc73c\uba70, \uc2dd\ud488 \ubd80\ubb38\uc5d0\uc11c\n17.2%\uc758 \uc2dc\uc7a5 \uc810\uc720\uc728\uc744 \uae30\ub85d\ud588\uc2b5\ub2c8\ub2e4. \uc774 \ud68c\uc0ac\ub294 **$862 million** \uc758 \ud604\uae08 \ubc0f \ud604\uae08\uc131 \uc790\uc0b0\uc73c\ub85c \uacac\uace0\ud55c \ub300\ucc28\ub300\uc870\ud45c\ub97c \uc720\uc9c0\ud558\uace0\n\uc788\uc2b5\ub2c8\ub2e4. \ud06c\ub85c\ub178\uc2a4\ub294 \ud06c\ub85c\ub178\uc2a4 GrowCo\uc5d0 \ub300\ud55c \ud22c\uc790\ub97c \uc644\ub8cc\ud558\uc5ec \uc774\uc0ac\ud68c\uc5d0\uc11c \ub2e4\uc218 \uc758\uacb0\uad8c\uc744 \ud655\ubcf4\ud558\uace0 2024\ub144 7\uc6d4\ubd80\ud130 \uc2e4\uc801\uc744 \ud1b5\ud569\ud588\uc2b5\ub2c8\ub2e4.\n\ucd1d \uc774\uc775\uc774 9% \uac10\uc18c\ud558\uc5ec $3.6 million\uc5d0 \uc774\ub974\ub800\uc9c0\ub9cc, \uc870\uc815 \ucd1d \uc774\uc775\uc740 170% \uc99d\uac00\ud558\uc5ec $10.7 million\uac00 \ub418\uc5c8\uc73c\uba70, \uc870\uc815\nEBITDA\ub294 60% \uc99d\uac00\ud558\uc5ec $(6.0) million\uc73c\ub85c \uac1c\uc120\ub418\uc5c8\uc2b5\ub2c8\ub2e4.\n\n**Cronos Group (NASDAQ: CRON)** a annonc\u00e9 de solides r\u00e9sultats pour le\ntroisi\u00e8me trimestre 2024, avec un revenu net en augmentation de 38 % d'une\nann\u00e9e sur l'autre, atteignant **34,3 millions de dollars** . La marque\nSpinach\u00ae est devenue la premi\u00e8re marque de cannabis au Canada, dominant dans\nles aliments avec une part de march\u00e9 de 17,2 %. L'entreprise maintient un\nbilan solide avec **862 millions de dollars** en liquidit\u00e9s et \u00e9quivalents de\nliquidit\u00e9s. Cronos a finalis\u00e9 son investissement dans Cronos GrowCo, obtenant\nle contr\u00f4le majoritaire du conseil d'administration et consolidant les\nr\u00e9sultats depuis juillet 2024. Malgr\u00e9 une diminution de 9 % du b\u00e9n\u00e9fice brut \u00e0\n3,6 millions de dollars, le b\u00e9n\u00e9fice brut ajust\u00e9 a augment\u00e9 de 170 % \u00e0 10,7\nmillions de dollars, et l'EBITDA ajust\u00e9 a progress\u00e9 de 60 % \u00e0 (6,0) millions\nde dollars.\n\n**Cronos Group (NASDAQ: CRON)** berichtete \u00fcber starke Ergebnisse im dritten\nQuartal 2024 mit einem Anstieg der Nettoums\u00e4tze um 38 % im Jahresvergleich auf\n**34,3 Millionen USD** . Die Marke Spinach\u00ae wurde zur Nummer 1 unter den\nCannabis-Marken in Kanada und f\u00fchrt im Bereich der Lebensmittel mit einem\nMarktanteil von 17,2 %. Das Unternehmen weist eine stabile Bilanz mit **862\nMillionen USD** an Geld- und Geld\u00e4quivalenten auf. Cronos hat seine\nInvestition in Cronos GrowCo abgeschlossen und damit die Kontrolle \u00fcber den\nVorstand erlangt und die Ergebnisse ab Juli 2024 konsolidiert. Trotz eines\nR\u00fcckgangs des Bruttogewinns um 9 % auf 3,6 Millionen USD stieg der bereinigte\nBruttogewinn um 170 % auf 10,7 Millionen USD, und das bereinigte EBITDA\nverbesserte sich um 60 % auf (6,0) Millionen USD.\n\nPositive\n\n * Net revenue increased 38% YoY to $34.3 million \n * Spinach\u00ae became #1 cannabis brand in Canada with leading market positions \n * Strong balance sheet with $862 million in cash \n * Adjusted Gross Profit increased 170% to $10.7 million \n * Adjusted EBITDA improved 60% to $(6.0) million \n * Secured majority control of Cronos GrowCo, expanding cultivation capabilities \n\nNegative\n\n * Gross profit decreased 9% YoY to $3.6 million \n * Gross margin declined from 16% to 11% YoY \n\n## Insights\n\n##\n\nA strong quarter showing significant growth and operational improvements.\n**Net revenue increased 38% YoY to $34.3M ** , driven by higher cannabis\nflower and extract sales across key markets. The Spinach\u00ae brand achieving #1\nposition in Canada demonstrates successful market execution.\n\nThe balance sheet remains exceptionally strong with $862M in cash, providing\nsubstantial runway for international expansion. While gross margin declined to\n11% , the adjusted gross margin of 31% (excluding one-time inventory\nadjustments) shows healthy underlying profitability. The $51M investment in\nCronos GrowCo expansion strategically positions the company for increased\nproduction capacity and margin improvements.\n\n##\n\nThe strategic positioning in key international markets shows promising\nmomentum. Strong performance in Canada with Spinach\u00ae brand leadership ( 17.2%\nmarket share in edibles, 6% in flower) demonstrates successful product\ninnovation and market execution. The expansion into Germany, UK and Australia,\nbacked by the GrowCo investment, aligns well with growing global cannabis\ndemand.\n\nThe consolidation of Cronos GrowCo provides vertical integration benefits and\nsupply chain control, important for maintaining quality and margins in\ncompetitive markets. The $5-10M projected operating expense savings shows\ncommitment to operational efficiency.\n\n* [ ](https://twitter.com/intent/tweet?text=%24CRON%20Cronos%20Group%20Reports%202024%20Third%20Quarter%20Results%0Ahttps%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-reports-2024-third-quarter-m7eusx8000jz.html \"Share on X\")\n* [ ](https://reddit.com/submit?url=https%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-reports-2024-third-quarter-m7eusx8000jz.html&title=Cronos%20Group%20Reports%202024%20Third%20Quarter%20Results \"Share on Reddit\")\n* [ ](https://www.facebook.com/sharer/sharer.php?u=https%3A%2F%2Fwww.stocktitan.net%2Fnews%2FCRON%2Fcronos-group-reports-2024-third-quarter-m7eusx8000jz.html"e=%24CRON%20%7C%20Cronos%20Group%20Reports%202024%20Third%20Quarter%20Results \"Share on Facebook\")\n* 11/12/2024 - 07:30 AM \n\n_Net revenue in Q3 2024 increased by_ 38% _year-over-year to_ _ $34.3 million\n_\n\n_Spinach_ \u00ae _Becomes the Number One Cannabis Brand in Canada_ _1_\n\n_Industry-leading balance sheet with_ _ $862 million _ _in cash and cash\nequivalents_\n\nTORONTO, Nov. 12, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) today announced its 2024 third quarter\nbusiness results.\n\n\u201cOur results this quarter demonstrate that our long-term strategy is working.\nWith record net revenue and a disciplined approach to operating expenses,\nCronos operates more efficiently and effectively than ever before, and we\nanticipate long-term margin improvement. Our consolidation of Cronos Growing\nCompany has further strengthened our supply chain, which we anticipate will\nlead to improved margins and allow us to meet the increasing global demand for\nhigh-quality cannabis. With an industry-leading balance sheet, we are well-\npositioned to expand into new legal markets and drive future growth\nopportunities,\u201d said Mike Gorenstein, Chairman, President and CEO, Cronos.\n\n\u201cAs international demand continues to rise, particularly in markets like\nGermany, the UK, and Australia, the investments we\u2019ve made in our\ninfrastructure and global partnerships are paying off,\u201d continued Mr.\nGorenstein. \u201cIn the third quarter, our award-winning Spinach \u00ae brand rose to\nbecome the best-selling cannabis brand in the Canadian adult-use market and\nour Peace Naturals \u00ae brand held a top spot in the Israeli medical market.\nOur brands' market share out-performance represents our relentless commitment\nto quality, innovation, and bringing differentiated products to the global\ncannabis market. The progress we\u2019ve made reinforces our leadership in key\ncategories and markets, and we remain focused on continuing to innovate and\nbring premium products to consumers.\u201d\n\n1 Hifyre Retail Analytics \u2013 National Retail Dollar Sales by Brand in Canada \u2013\nAugust 2024.\n\n**_Consolidated Financial Results_ ** \nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\" Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results as of July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in the condensed\nconsolidated statements of net income (loss) and comprehensive income (loss).\nPrior period amounts have been reclassified to reflect the discontinued\noperations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three months ended September 30,** | | **Change** | | **Nine months ended September 30,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 29,996 | | | $ | 24,810 | | | $ | 5,186 | | | 21 | % | | $ | 83,046 | | | $ | 63,326 | | | $ | 19,720 | | | 31 | % \nCronos GrowCo net revenue ( i i ) | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A \nNet revenue | | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | | 38 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 30,341 | | | | 20,124 | | | | 10,217 | | | 51 | % | | | 72,216 | | | | 52,614 | | | | 19,602 | | | 37 | % \nInventory write-down | | | 312 | | | | 716 | | | | (404 | ) | | (56 | )% | | | 707 | | | | 716 | | | | (9 | ) | | (1 | )% \nGross profit | | $ | 3,611 | | | $ | 3,970 | | | $ | (359 | ) | | (9 | )% | | $ | 14,391 | | | $ | 9,996 | | | $ | 4,395 | | | 44 | % \nGross margin (iii) | | | 11 | % | | | 16 | % | | N/A | | (5) pp | | | 16 | % | | | 16 | % | | N/A | | \u2014pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A \nAdjusted Gross Profit ( i v ) | | $ | 10,727 | | | $ | 3,970 | | | $ | 6,757 | | | 170 | % | | $ | 21,507 | | | $ | 9,996 | | | $ | 11,511 | | | 115 | % \nAdjusted Gross Margin ( v ) | | | 31 | % | | | 16 | % | | N/A | | 15pp | | | 25 | % | | | 16 | % | | N/A | | 9pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 7,324 | | | $ | (1,590 | ) | | $ | 8,914 | | | N/M | | $ | (3,919 | ) | | $ | (25,288 | ) | | $ | 21,369 | | | 85 | % \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (6,019 | ) | | $ | (15,187 | ) | | $ | 9,168 | | | 60 | % | | $ | (27,739 | ) | | $ | (46,774 | ) | | $ | 19,035 | | | 41 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents (vi) | | $ | 862,034 | | | $ | 571,656 | | | $ | 290,378 | | | 51 | % | | | | | | | | \nShort-term investments (vi) | | | \u2014 | | | | 267,905 | | | | (267,905 | ) | | (100 | )% | | | | | | | | \nCapital expenditures ( vii ) | | | 6,536 | | | | 325 | | | | 6,211 | | | 1,911 | % | | | 9,446 | | | | 1,631 | | | | 7,815 | | | 479 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is Net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Third Quarter** **2024**\n\n * Net revenue of $34.3 million in Q3 2024 increased by $9.5 million from Q3 2023. The increase was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and sales to other international markets consisting of Australia, Germany and the United Kingdom (the \"UK\"). Cronos GrowCo contributed $4.3 million of cannabis flower sales in both the three and nine months ended September 30, 2024. \n * Gross profit of $3.6 million in Q3 2024 decreased by $0.4 million from Q3 2023. The decrease was primarily due to the impact on cost of sales from the inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction on July 1, 2024, partially offset by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted Gross Profit of $10.7 million in Q3 2024 increased by $6.8 million from Q3 2023. Adjusted Gross Profit and Adjusted Gross Margin provide insight into underlying business trends to facilitate comparisons of period-over-period results by removing the impacts of inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction, which reflect a one-time event and do not reflect management's assessment of ongoing performance. The increase in Adjusted Gross Profit was driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted EBITDA of $(6.0) million in Q3 2024 improved by $9.2 million from Q3 2023. The improvement year-over-year was primarily driven by higher net revenue, improved Adjusted Gross Profit and a decrease in general and administrative expenses. \n\n**_Business Updates_ **\n\n**Transaction with Cronos GrowCo** \nThe global cannabis market continues to expand as international markets fuel\nan increasing demand for high-quality products. The investment in Cronos\nGrowCo\u2019s facility expansion enables Cronos to increase supply of Cronos'\nunique portfolio of genetics which has helped the Company win in the highly\ncompetitive Canadian market, as well as expand Cronos\u2019 international footprint\nwith distribution to the growing markets in Australia, Germany, and the UK.\n\n**Key highlights of the transaction:**\n\n * **Increased Board Representation** : As of July 1, 2024, the Cronos GrowCo board of directors expanded to five members, three of whom are appointed by Cronos. \n * **Financial Consolidation** : Cronos now consolidates Cronos GrowCo\u2019s results in its financial statements beginning in the third quarter of 2024. \n * **Investment in Expansion** : Cronos provided an approximately $51 million ( $70 million CAD) secured non-revolving credit facility to Cronos GrowCo to fund the expansion of Cronos GrowCo's cultivation and processing facilities, enabling growth opportunities in the markets Cronos operates in today as well as enabling Cronos to take advantage of future growth into new markets that open. \n * **New Supply Agreement** : Prior to the commencement of sales from the expanded facility, Cronos will have the option to purchase up to 80% of Cronos GrowCo\u2019s total production. Thereafter, Cronos will have the option to purchase up to 70% of the total production from the expanded facility. \n\n**Brand and Product Portfolio**\n\n**_Spinach_ ** \u00ae\n\nIn Q3 2024, Spinach \u00ae was the top-selling cannabis brand in Canada according\nto Hifyre. This market share success highlights Cronos' unwavering dedication\nto quality, innovation, and delivering distinctive products to the competitive\nCanadian adult-use market.\n\nSpinach \u00ae has solidified itself as the go-to brand for a wide array of\nproducts featuring different cannabinoid combinations, potency ranges and\nflavor profiles. In the edibles category, the Spinach \u00ae brand held the\nnumber one position with a 17.2% market share in Q3 2024, according to\nHifyre.\n\nIn Q3 2024, the Spinach \u00ae brand launched three new edible SKUs, which included the SOURZ by Spinach \u00ae Strawberry Watermelon 4:1 CBG|THC gummies, SOURZ by Spinach \u00ae Peach Passionfruit 1:1:1 CBN | CBD | THC gummies, and the brand's first limited edition SOURZ by Spinach \u00ae Caramel Green Apple gummies. \n\nCronos' strong cannabis cultivar breeding program and portfolio of genetics\ncontinued to drive growth, propelling the Spinach \u00ae brand to become the\nnumber one flower brand in Canada, with a 6.0% market share in Q3 2024,\naccording to Hifyre.\n\nThe Spinach \u00ae brand was ranked fourth in the vape category in Q3 2024,\nholding a 6.4% market share, according to Hifyre. This performance was\ndriven by popular products such as Spinach HITZ\u2122, which introduced new Pink\nLemonade and Rocket Icicle flavors, alongside line extensions in Spinach \u00ae\n1.2g Vapes.\n\nIn Q3 2024, Spinach \u00ae was ranked eighth in the pre-roll category with 2.7%\nmarket share, according to Hifyre. In the sub-category of infused pre-rolls,\nthe Spinach \u00ae Fully Charged infused pre-rolls have begun to make their mark\nand are trending towards becoming a top selling product. The infused pre-roll\ncategory is continuing to grow and we expect this category to be key to future\ngrowth for both Cronos and the industry, which is why we are committed to\nevolution and innovation of the pre-roll portfolio.\n\n**_PEACE NATURALS_ ** **_\u00ae_ **\n\nIn Israel, PEACE NATURALS \u00ae continues to be a top-performing brand with a\nrecord volume of sales in Q3 2024, powered by Cronos' advanced genetic\nbreeding program and high-quality cultivation capabilities. Despite the\nconflict involving Israel, Hamas, Iran and other stakeholders in the region,\nan incredibly competitive market and declining patient counts due to\nregulatory market structure shifts, the brand continues to out-perform in the\nIsraeli cannabis market.\n\nIn Germany and the UK, we are experiencing strong traction with Cronos'\nproprietary genetics, such as GMO and Wedding Cake, under the PEACE NATURALS\n\u00ae brand. The expansion of Cronos GrowCo will help enable Cronos to execute on\nthese growth opportunities and others as they become available.\n\n**Guidance and Outlook**\n\nThe Company reiterates its previously announced operating expense savings\ntarget of $5 t o $10 million on a standalone basis in 2024 primarily\ndriven by savings in general and administrative, sales and marketing and\nresearch and development (\"R&D\"). The organizational and cost savings\ninitiatives are intended to position the Company to drive profitable and\nsustainable growth over time. The operating expense savings target excludes\nthe impact of the consolidation of Cronos GrowCo's results into the Company's\nfinancial statements.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause actual results to differ materially from these forward-\nlooking statements.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nNovember 12, 2024, at 8:30 a.m. ET to discuss 2024 Third Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany's website at _https://ir.thecronosgroup.com/events-presentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology, such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Israel Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d); \n * expectations related to the conflict involving Israel, Hamas, Iran and other stakeholders in the region (the \"Middle East Conflict\") and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa GmbH (\u201cCansativa\u201d), Vitura Health Limited (\u201cVitura\u201d) and GROW \u00ae Pharma, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility (the \"Cronos Fermentation Facility\") and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations, including the costs, expenses and write-offs associated therewith, the impact on our operations and our financial statements and any future plans to re-enter the U.S. market; \n * expectations related to our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of our facility in Stayner, Ontario (the \u201cPeace Naturals Campus\u201d); \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the expansion of Cronos GrowCo\u2019s purpose-built cannabis facility; \n * expectations related to the Cronos GrowCo transaction and the expansion of its cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the U.S. and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding acquisitions and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the Securities and Exchange Commission (the \"SEC\") and the settlement agreement (the \"Settlement Agreement\") with the Ontario Securities Commission (the \"OSC\"); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended (the \"Securities Act\"), and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and its impact on our\noperations in Israel; (ii) our ability to effectively navigate developments\nrelated to the Middle East Conflict and its impact on our employees and\noperations in Israel, the supply of product in the market and demand for\nproduct by medical patients in Israel; (iii) our ability to efficiently and\neffectively distribute our PEACE NATURALS \u00ae brand in Germany with our\nstrategic partner Cansativa and in the UK with our strategic partner GROW \u00ae\nPharma and our ability to efficiently and effectively distribute products in\nAustralia with our strategic partner Vitura; (iv) our ability to realize the\nexpected cost-savings and other benefits related to the wind-down of our\noperations at the Cronos Fermentation facility, (v) expectations related to\nthe impact of our decision to exit our U.S. hemp-derived cannabinoid product\noperations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively change the nature of our operations at our Peace\nNaturals Campus and receive the benefits thereof and acquire raw materials on\na timely and cost-effective basis from third parties or Cronos GrowCo; (viii)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (ix) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our acquisitions and\nstrategic investments; (x) the production and manufacturing capabilities and\noutput from our facilities and our joint ventures, strategic alliances and\nequity investments; (xi) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiii) consumer\ninterest in our products; (xiv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xv) competition;\n(xvi) anticipated and unanticipated costs; (xvii) our ability to generate cash\nflow from operations; (xviii) our ability to conduct operations in a safe,\nefficient and effective manner; (xix) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xx) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxi) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiii) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxiv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be\ncorrect, and that objectives, strategic goals and priorities will not be\nachieved. A variety of factors, including known and unknown risks, many of\nwhich are beyond our control, could cause actual results to differ materially\nfrom the Forward-Looking Statements in this press release and other reports we\nfile with, or furnish to, the SEC and other regulatory agencies and made by\nour directors, officers, other employees and other persons authorized to speak\non our behalf. Such factors include, without limitation, negative impacts on\nour business and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict, the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at the Cronos Fermentation facility; that we may\nbe unable to further streamline our operations and reduce expenses; that we\nmay not be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; the risks that our Realignment, the change in the\nnature of our operations at the Peace Naturals Campus and our further\nleveraging of our strategic partnerships will not result in the expected cost-\nsavings, efficiencies and other benefits or will result in greater than\nanticipated turnover in personnel; lower levels of revenues; the lack of\nconsumer demand for our products; our inability to manage disruptions in\ncredit markets; unanticipated future levels of capital, environmental or\nmaintenance expenditures, general and administrative and other expenses;\ngrowth opportunities not turning out as expected; the lack of cash flow\nnecessary to execute our business plan (either within the expected timeframe\nor at all); difficulty raising capital; the potential adverse effects of\njudicial, regulatory or other proceedings, or threatened litigation or\nproceedings, on our business, financial condition, results of operations and\ncash flows; volatility in and/or degradation of general economic, market,\nindustry or business conditions; compliance with applicable environmental,\neconomic, health and safety, energy and other policies and regulations and in\nparticular health concerns with respect to vaping and the use of cannabis and\nU.S. hemp products in vaping devices; the unexpected effects of actions of\nthird parties such as competitors, activist investors or federal (including\nU.S. federal), state, provincial, territorial or local regulatory authorities\nor self-regulatory organizations; adverse changes in regulatory requirements\nin relation to our business and products; legal or regulatory obstacles that\ncould prevent us from being able to exercise the PharmaCann Option and thereby\nrealize the anticipated benefits of the transaction with PharmaCann; dilution\nof our fully diluted ownership of PharmaCann and the loss of our rights as a\nresult of that dilution; our failure to improve our internal control\nenvironment and our systems, processes and procedures; and the factors\ndiscussed under Part I, Item 1A \u201cRisk Factors\u201d of the Annual Report on Form\n10-K for the year ended December 31, 2023 and under Part II, Item 1A \u201cRisk\nFactors\u201d in our Quarterly Reports. Readers are cautioned to consider these and\nother factors, uncertainties and potential events carefully and not to put\nundue reliance on Forward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\nAs used in this press release, \u201cCBD\u201d means cannabidiol and \u201cU.S. hemp\u201d has the\nmeaning given to the term \u201chemp\u201d in the U.S. Agricultural Improvement Act of\n2018, including hemp-derived CBD.\n\n**Cronos Group Inc.** \n--- \n**Condensed Consolidated Balance Sheets** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n \n \n\n| **As of September 30, 2024** | | **As of December 31, 2023** \n---|---|---|--- \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 862,034 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 20,480 | | | | 13,984 | \nInterest receivable | | 7,190 | | | | 10,012 | \nOther receivables | | 5,690 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 233 | | | | 5,541 | \nInventory, net | | 47,250 | | | | 30,495 | \nPrepaids and other current assets | | 7,326 | | | | 5,405 | \nHeld-for-sale assets | | 8,971 | | | | \u2014 | \nTotal current assets | | 959,174 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,900 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 16,086 | | | | 69,036 | \nProperty, plant and equipment, net | | 162,516 | | | | 59,468 | \nRight-of-use assets | | 1,052 | | | | 1,356 | \nGoodwill | | 38,028 | | | | 1,057 | \nIntangible assets, net | | 4,247 | | | | 21,078 | \nOther assets | | 130 | | | | 45 | \n**Total assets** | $ | 1,184,133 | | | $ | 1,140,085 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 6,532 | | | $ | 12,130 | \nIncome taxes payable | | 94 | | | | 64 | \nAccrued liabilities | | 31,766 | | | | 27,736 | \nCurrent portion of lease obligation | | 980 | | | | 994 | \nDerivative liabilities | | 192 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 39,564 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,243 | | | | 1,003 | \nNon-current portion of lease obligation | | 872 | | | | 1,559 | \nDeferred tax liability | | 11,143 | | | | \u2014 | \n**Total liabilities** | | 52,822 | | | | 43,961 | \n| | | \n**Shareholders\u2019 equity** | | | \nShare capital | | 616,403 | | | | 613,725 | \nAdditional paid-in capital | | 51,523 | | | | 48,449 | \nRetained earnings | | 413,995 | | | | 416,719 | \nAccumulated other comprehensive gain (loss) | | (361 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,081,560 | | | | 1,099,571 | \nNon-controlling interests | | 49,751 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,131,311 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,184,133 | | | $ | 1,140,085 | \n \n \n\n**Cronos Group Inc.** | | | \n---|---|---|--- \n**Condensed Consolidated Statements of Net Income (Loss) and Comprehensive\nIncome (Loss)** \n \n \n\n| **Three months ended September 30,** | | **Nine months ended September 30,** \n---|---|---|--- \n_(In thousands of U.S. dollars, except share and per share amounts, unaudited)_ | | **2024** | | | | **2023** | | | | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 46,594 | | | $ | 33,912 | | | $ | 120,639 | | | $ | 86,264 | \nExcise taxes | | (12,330 | ) | | | (9,102 | ) | | | (33,325 | ) | | | (22,938 | ) \n**Net revenue** | | 34,264 | | | | 24,810 | | | | 87,314 | | | | 63,326 | \nCost of sales | | 30,341 | | | | 20,124 | | | | 72,216 | | | | 52,614 | \nInventory write-down | | 312 | | | | 716 | | | | 707 | | | | 716 | \n**Gross profit** | | 3,611 | | | | 3,970 | | | | 14,391 | | | | 9,996 | \n**Operating expenses** | | | | | | | \nSales and marketing | | 5,528 | | | | 5,296 | | | | 15,190 | | | | 16,334 | \nResearch and development | | 1,242 | | | | 1,246 | | | | 3,201 | | | | 4,392 | \nGeneral and administrative | | 12,760 | | | | 14,366 | | | | 34,434 | | | | 39,673 | \nRestructuring costs | | \u2014 | | | | 1,423 | | | | 630 | | | | 1,423 | \nShare-based compensation | | 2,262 | | | | 1,957 | | | | 6,513 | | | | 6,823 | \nDepreciation and amortization | | 1,098 | | | | 1,457 | | | | 3,237 | | | | 4,515 | \nImpairment loss on long-lived assets | | 14,376 | | | | \u2014 | | | | 16,350 | | | | \u2014 | \nTotal operating expenses | | 37,266 | | | | 25,745 | | | | 79,555 | | | | 73,160 | \nOperating loss | | (33,655 | ) | | | (21,775 | ) | | | (65,164 | ) | | | (63,164 | ) \n**Other income** | | | | | | | \nInterest income, net | | 12,460 | | | | 13,375 | | | | 40,156 | | | | 37,021 | \nShare of income from equity method investments | | \u2014 | | | | 1,057 | | | | 2,365 | | | | 831 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | 11,804 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | 32,469 | | | | \u2014 | \nLoss on revaluation of financial instruments | | (293 | ) | | | (5,291 | ) | | | (6,550 | ) | | | (7,856 | ) \nImpairment loss on other investments | | \u2014 | | | | \u2014 | | | | (25,650 | ) | | | \u2014 | \nForeign currency transaction gain (loss) | | (7,432 | ) | | | 8,816 | | | | 12,370 | | | | 3,999 | \nLoss on held-for-sale assets | | (10,422 | ) | | | \u2014 | | | | (10,422 | ) | | | \u2014 | \nOther, net | | (315 | ) | | | 974 | | | | (737 | ) | | | 1,011 | \nTotal other income | | 38,271 | | | | 18,931 | | | | 55,805 | | | | 35,006 | \nIncome (loss) before income taxes | | 4,616 | | | | (2,844 | ) | | | (9,359 | ) | | | (28,158 | ) \nIncome tax benefit | | (2,708 | ) | | | (1,254 | ) | | | (5,440 | ) | | | (2,870 | ) \nIncome (loss) from continuing operations | | 7,324 | | | | (1,590 | ) | | | (3,919 | ) | | | (25,288 | ) \nLoss from discontinued operations | | \u2014 | | | | (182 | ) | | | \u2014 | | | | (4,238 | ) \nNet income (loss) | | 7,324 | | | | (1,772 | ) | | | (3,919 | ) | | | (29,526 | ) \nNet loss attributable to non-controlling interest | | (1,025 | ) | | | (128 | ) | | | (1,270 | ) | | | (353 | ) \nNet income (loss) attributable to Cronos Group | $ | 8,349 | | | $ | (1,644 | ) | | $ | (2,649 | ) | | $ | (29,173 | ) \n**Comprehensive income (loss)** | | | | | | | \nNet income (loss) | $ | 7,324 | | | $ | (1,772 | ) | | $ | (3,919 | ) | | $ | (29,526 | ) \nOther comprehensive income (loss) | | | | | | | \nForeign exchange gain (loss) on translation | | 12,408 | | | | (20,090 | ) | | | (20,113 | ) | | | (1,096 | ) \nComprehensive income (loss) | | 19,732 | | | | (21,862 | ) | | | (24,032 | ) | | | (30,622 | ) \nComprehensive loss attributable to non-controlling interests | | (269 | ) | | | (41 | ) | | | (344 | ) | | | (136 | ) \n**Comprehensive income (loss) attributable to Cronos Group** | $ | 20,001 | | | $ | (21,821 | ) | | $ | (23,688 | ) | | $ | (30,486 | ) \n**Net income (loss) per share** | | | | | | | \nBasic - continuing operations | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.07 | ) \nBasic - discontinued operations | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (0.01 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.08 | ) \n| | | | | | | \nDiluted - continuing operations | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.07 | ) \nDiluted - discontinued operations | | \u2014 | | | | \u2014 | | | | \u2014 | | | | (0.01 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.02 | | | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.08 | ) \n \n \n\n**Cronos Group Inc.** | \n---|--- \n**Condensed Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars, except share amounts, unaudited)_ \n \n \n\n| **Nine months ended September 30,** \n---|--- \n| | **2024** | | | | **2023** | \n**Operating activities** | | | \nNet loss | $ | (3,919 | ) | | $ | (29,526 | ) \nAdjustments to reconcile net loss to cash used in operating activities: | | | \nShare-based compensation | | 6,513 | | | | 6,840 | \nDepreciation and amortization | | 6,811 | | | | 6,933 | \nImpairment loss on long-lived assets | | 16,350 | | | | 205 | \nImpairment loss on other investments | | 25,650 | | | | \u2014 | \nLoss from investments | | 4,103 | | | | 7,103 | \nChanges in expected credit losses on long-term financial assets | | 1,026 | | | | (1,339 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | \nLoss on held-for-sale assets | | 10,422 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 7,116 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (12,370 | ) | | | (3,999 | ) \nOther non-cash operating activities, net | | (11 | ) | | | (1,904 | ) \nChanges in operating assets and liabilities: | | | \nAccounts receivable, net | | (5,402 | ) | | | 6,976 | \nInterest receivable | | (1,018 | ) | | | (14,601 | ) \nOther receivables | | 1,658 | | | | 25 | \nPrepaids and other current assets | | (1,217 | ) | | | 1,074 | \nInventory | | 7,162 | | | | 976 | \nAccounts payable | | (9,102 | ) | | | (7,595 | ) \nIncome taxes payable | | (9 | ) | | | (32,728 | ) \nAccrued liabilities | | 1,633 | | | | 1,910 | \nCash flows provided by (used in) operating activities | | 11,123 | | | | (59,650 | ) \n**Investing activities** | | | \nPurchase of short-term investments | | \u2014 | | | | (537,186 | ) \nProceeds from short-term investments | | 187,166 | | | | 380,765 | \nCash acquired in business combinations | | 5,993 | | | | \u2014 | \nDividends received from equity method investment | | \u2014 | | | | 1,301 | \nDividend proceeds | | \u2014 | | | | 346 | \nAdvances on loans receivable | | (8,822 | ) | | | \u2014 | \nProceeds from repayment on loans receivable | | 5,290 | | | | 14,151 | \nPurchase of property, plant and equipment | | (8,868 | ) | | | (1,287 | ) \nPurchase of intangible assets | | (578 | ) | | | (344 | ) \nOther investing activities | | \u2014 | | | | 862 | \nCash flows provided by (used in) investing activities | | 180,181 | | | | (141,392 | ) \n**Financing activities** | | | \nWithholding taxes paid on share-based awards | | (918 | ) | | | (812 | ) \nCash flows used in financing activities | | (918 | ) | | | (812 | ) \nEffect of foreign currency translation on cash and cash equivalents | | 2,357 | | | | 8,866 | \nNet change in cash and cash equivalents | | 192,743 | | | | (192,988 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | \nCash and cash equivalents, end of period | $ | 862,034 | | | $ | 571,656 | \n**Supplemental cash flow information** | | | \nInterest paid | $ | \u2014 | | | $ | \u2014 | \nInterest received | $ | 38,965 | | | $ | 22,203 | \nIncome taxes paid | $ | 621 | | | $ | 33,013 | \n \n** \nNon-GAAP Measures **\n\nCronos Group reports its financial results in accordance with Generally\nAccepted Accounting Principles in the United States (\u201cU.S. GAAP\u201d). This press\nrelease refers to measures not recognized under U.S. GAAP (\u201cnon-GAAP\nmeasures\u201d). These non-GAAP measures do not have a standardized meaning\nprescribed by U.S. GAAP and are therefore unlikely to be comparable to similar\nmeasures presented by other companies. Rather, these non-GAAP measures are\nprovided as a supplement to corresponding U.S. GAAP measures to provide\nadditional information regarding the results of operations from management\u2019s\nperspective. Accordingly, non-GAAP measures should not be considered a\nsubstitute for, or superior to, the financial information prepared and\npresented in accordance with U.S. GAAP. All non-GAAP measures presented in\nthis press release are reconciled to their closest reported U.S. GAAP measure.\nReconciliations of historical adjusted financial measures to corresponding\nU.S. GAAP measures are provided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; purchase accounting\nadjustment-related inventory step-up adjustments recorded through cost of\nsales; and financial statement review costs and reserves related to the\nrestatements of our 2019 and 2021 interim financial statements (the\n\u201cRestatements\u201d), including the costs related to the settlement of the SEC's\nand the OSC's investigations of the Restatements and legal costs of defending\nshareholder class action complaints brought against us as a result of the 2019\nrestatement (see Part II, Item 1 \u201cLegal Proceedings\u201d of our Quarterly Report\non Form 10-Q for the period ended September 30, 2024 for a discussion of the\nshareholder class action complaints relating to the restatement of the 2019\ninterim financial statements and the settlement of the SEC's and the OSC's\ninvestigations of the Restatements). Results are reported as total\nconsolidated results, reflecting our reporting structure of one reportable\nsegment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\nThe following tables set forth a reconciliation of Net income (loss) as\ndetermined in accordance with U.S. GAAP to Adjusted EBITDA for the periods\nindicated:\n\n| **Three months ended September 30, 2024** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet income | $ | 7,324 | | | $ | \u2014 | | $ | 7,324 | \nInterest income, net | | (12,460 | ) | | | \u2014 | | | (12,460 | ) \nIncome tax benefit | | (2,708 | ) | | | \u2014 | | | (2,708 | ) \nDepreciation and amortization | | 3,567 | | | | \u2014 | | | 3,567 | \nEBITDA | | (4,277 | ) | | | \u2014 | | | (4,277 | ) \nImpairment loss on long-lived assets (i) | | 14,376 | | | | \u2014 | | | 14,376 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nLoss on revaluation of financial instruments (iv) | | 293 | | | | \u2014 | | | 293 | \nForeign currency transaction loss | | 7,432 | | | | \u2014 | | | 7,432 | \nTransaction costs (vi) | | 334 | | | | \u2014 | | | 334 | \nLoss on held-for-sale assets (vii) | | 10,422 | | | | \u2014 | | | 10,422 | \nOther, net (viii) | | 315 | | | | \u2014 | | | 315 | \nShare-based compensation (ix) | | 2,262 | | | | \u2014 | | | 2,262 | \nFinancial statement review costs (xi) | | (19 | ) | | | \u2014 | | | (19 | ) \nInventory step-up recorded to cost of sales (xiii) | | 7,116 | | | | \u2014 | | | 7,116 | \nAdjusted EBITDA | $ | (6,019 | ) | | $ | \u2014 | | $ | (6,019 | ) \n \n \n\n| **Three months ended September 30, 2023** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet loss | $ | (1,590 | ) | | $ | (182 | ) | | $ | (1,772 | ) \nInterest income, net | | (13,375 | ) | | | (1 | ) | | | (13,376 | ) \nIncome tax benefit | | (1,254 | ) | | | \u2014 | | | | (1,254 | ) \nDepreciation and amortization | | 2,148 | | | | \u2014 | | | | 2,148 | \nEBITDA | | (14,071 | ) | | | (183 | ) | | | (14,254 | ) \nShare of income from equity method investments | | (1,057 | ) | | | \u2014 | | | | (1,057 | ) \nLoss on revaluation of financial instruments (iv) | | 5,291 | | | | \u2014 | | | | 5,291 | \nForeign currency transaction gain | | (8,816 | ) | | | \u2014 | | | | (8,816 | ) \nOther, net (viii) | | (974 | ) | | | (31 | ) | | | (1,005 | ) \nRestructuring costs (ix) | | 1,423 | | | | 28 | | | | 1,451 | \nShare-based compensation (x) | | 1,957 | | | | (4 | ) | | | 1,953 | \nFinancial statement review costs (xi) | | 344 | | | | \u2014 | | | | 344 | \nInventory write-down (xii) | | 716 | | | | \u2014 | | | | 716 | \nAdjusted EBITDA | $ | (15,187 | ) | | $ | (190 | ) | | $ | (15,377 | ) \n \n \n\n| **Nine months ended September 30, 2024** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet loss | $ | (3,919 | ) | | $ | \u2014 | | $ | (3,919 | ) \nInterest income, net | | (40,156 | ) | | | \u2014 | | | (40,156 | ) \nIncome tax benefit | | (5,440 | ) | | | \u2014 | | | (5,440 | ) \nDepreciation and amortization | | 6,811 | | | | \u2014 | | | 6,811 | \nEBITDA | | (42,704 | ) | | | \u2014 | | | (42,704 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nLoss on revaluation of financial instruments (iv) | | 6,550 | | | | \u2014 | | | 6,550 | \nImpairment loss on other investments (v) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (12,370 | ) | | | \u2014 | | | (12,370 | ) \nTransaction costs (vi) | | 530 | | | | \u2014 | | | 530 | \nLoss on held-for-sale assets (vii) | | 10,422 | | | | \u2014 | | | 10,422 | \nOther, net (viii) | | 737 | | | | \u2014 | | | 737 | \nRestructuring costs (ix) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (x) | | 6,513 | | | | \u2014 | | | 6,513 | \nFinancial statement review costs (xi) | | (525 | ) | | | \u2014 | | | (525 | ) \nInventory step-up recorded to cost of sales (xiii) | | 7,116 | | | | \u2014 | | | 7,116 | \nAdjusted EBITDA | $ | (27,739 | ) | | $ | \u2014 | | $ | (27,739 | ) \n \n \n\n| **Nine months ended September 30, 2023** \n---|--- \n| **Continuing Operations** | | **Discontinued Operations** | | **Total** \nNet loss | $ | (25,288 | ) | | $ | (4,238 | ) | | $ | (29,526 | ) \nInterest income, net | | (37,021 | ) | | | (9 | ) | | | (37,030 | ) \nIncome tax benefit | | (2,870 | ) | | | \u2014 | | | | (2,870 | ) \nDepreciation and amortization | | 6,689 | | | | 244 | | | | 6,933 | \nEBITDA | | (58,490 | ) | | | (4,003 | ) | | | (62,493 | ) \nShare of income from equity method investments | | (831 | ) | | | \u2014 | | | | (831 | ) \nImpairment loss on long-lived assets (i) | | \u2014 | | | | 205 | | | | 205 | \nLoss on revaluation of financial instruments (iv) | | 7,856 | | | | \u2014 | | | | 7,856 | \nForeign currency transaction gain | | (3,999 | ) | | | \u2014 | | | | (3,999 | ) \nOther, net (viii) | | (1,011 | ) | | | 132 | | | | (879 | ) \nRestructuring costs (ix) | | 1,423 | | | | 562 | | | | 1,985 | \nShare-based compensation (x) | | 6,823 | | | | 17 | | | | 6,840 | \nFinancial statement review costs (xi) | | 739 | | | | \u2014 | | | | 739 | \nInventory write-down (xii) | | 716 | | | | 839 | | | | 1,555 | \nAdjusted EBITDA | $ | (46,774 | ) | | $ | (2,248 | ) | | $ | (49,022 | ) \n \n(i) For the three and nine months ended September 30, 2024, impairment loss\non long-lived assets included $14,258 related to the write-down of our\nGinkgo exclusive licenses. For the nine months ended September 30, 2024,\nimpairment loss on long-lived assets included $1,631 related to the winding\ndown of operations at the Cronos Fermentation Facility. For the nine months\nended September 30, 2023, impairment loss on long-lived assets related to\ncertain leased properties associated with the Company\u2019s U.S. operations.\n\n(ii) For the three and nine months ended September 30, 2024, a revaluation\ngain on loan receivable was recognized as a result of the Cronos GrowCo\ntransaction on July 1, 2024.\n\n(iii) For the three and nine months ended September 30, 2024, the gain on\nrevaluation of equity method investment was recognized as a result of the\nCronos GrowCo transaction on July 1, 2024.\n\n(iv) For the three and nine months ended September 30, 2024 and 2023, loss on\nrevaluation of financial instruments related primarily to the Company\u2019s equity\nsecurities in Vitura.\n\n(v) For the nine months ended September 30, 2024, impairment loss on other\ninvestments represents the fair value change on the PharmaCann Option.\n\n(vi) For the three and nine months ended September 30, 2024, transaction\ncosts represent professional fees associated with the Cronos GrowCo\ntransaction.\n\n(vii) For the three and nine months ended September 30, 2024, a loss on held-\nfor-sale assets was recognized as a result of the change in the Company\u2019s\nsales strategy for the Cronos Fermentation Facility to market the assets to a\nbroader buyer pool.\n\n(viii) For the three and nine months ended September 30, 2024 and 2023,\nother, net related to (gain) loss on disposal of assets and (gain) loss on\nrevaluation of derivative liabilities.\n\n(ix) For the nine months ended September 30, 2024, restructuring costs from\ncontinuing operations related to shutdown costs at the Cronos Fermentation\nFacility, as well as employee-related severance costs associated with the\nRealignment. For the three and nine months ended September 30, 2023,\nrestructuring costs related to employee-related severance costs and other\nrestructuring costs associated with our U.S. operations.\n\n(x) For the three and nine months ended September 30, 2024 and 2023, share-\nbased compensation related to the non-cash expenses of share-based\ncompensation awarded to employees under the Company\u2019s share-based award plans.\n\n(xi) For the three and nine months ended September 30, 2024 and 2023,\nfinancial statement review costs include costs and reserves taken related to\nthe Restatements, costs related to the Company\u2019s responses to requests for\ninformation from various regulatory authorities relating to the Restatements\nand legal costs incurred defending shareholder class action complaints brought\nagainst the Company as a result of the 2019 restatement. For the three and\nnine months ended September 30, 2024, a credit balance is presented due to an\ninsurance recovery.\n\n(xii) For the three and nine months ended September 30, 2023, inventory\nwrite-downs relate to product destruction and obsolescence associated with the\nexit of our U.S. operations.\n\n(xiii) For the three and nine months ended September 30, 2024, inventory\nstep-up recorded to cost of sales represents the portion of the inventory\nstep-up from the Cronos GrowCo transaction that was recorded through the\ncondensed consolidated statements of income (loss) and comprehensive income\n(loss) in both periods.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of USD)_ | **Three months ended September 30,** | | **Change** | | **Nine months ended September 30,** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | 38 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 3,611 | | | $ | 3,970 | | | $ | (359 | ) | | (9 | )% | | $ | 14,391 | | | $ | 9,996 | | | $ | 4,395 | | 44 | % \nInventory step-up recorded to cost of sales | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/M | | | | 7,116 | | | | \u2014 | | | | 7,116 | | N/M | \nAdjusted Gross Profit | $ | 10,727 | | | $ | 3,970 | | | $ | 6,757 | | | 170 | % | | $ | 21,507 | | | $ | 9,996 | | | $ | 11,511 | | 115 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 11 | % | | | 16 | % | | N/A | | (5)pp | | | 16 | % | | | 16 | % | | N/A | | \u2014pp \nAdjusted Gross Margin (ii) | | 31 | % | | | 16 | % | | N/A | | 15pp | | | 25 | % | | | 16 | % | | N/A | | 9pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue.\n\n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n**_Constant Currency_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenue, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for the three and nine months\nended September 30, 2024, as well as cash and cash equivalents and short-term\ninvestment balances as of September 30, 2024 compared to December 31, 2023,\nwhich are considered non-GAAP financial measures. We present constant currency\ninformation to provide a framework for assessing how our underlying operations\nperformed excluding the effect of foreign currency rate fluctuations. To\npresent this information, current and comparative prior period income\nstatement results in currencies other than U.S. dollars are converted into\nU.S. dollars using the average exchange rates from the three and nine months\ncomparative periods in 2023 rather than the actual average exchange rates in\neffect during the respective current periods; constant currency current and\nprior comparative balance sheet information is translated at the prior year-\nend spot rate rather than the current period spot rate. All growth comparisons\nrelate to the corresponding period in 2023. We have provided this non-GAAP\nfinancial information to aid investors in better understanding the performance\nof our operations. The non-GAAP financial measures presented in this press\nrelease should not be considered as a substitute for, or superior to, the\nmeasures of financial performance prepared in accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on a constant currency basis for the three and nine\nmonths ended September 30, 2024 compared to the three and nine months ended\nSeptember 30, 2023 as well as cash and cash equivalents and short-term\ninvestments as of September 30, 2024 and December 31, 2023, both on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended September 30,** | | **As Reported Change** | | **Three months ended September 30,** | | **Constant Currency Change** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 34,661 | | | $ | 9,851 | | | 40 | % \nGross profit | | 3,611 | | | | 3,970 | | | | (359 | ) | | (9 | )% | | | 3,608 | | | | (362 | ) | | (9 | )% \nGross margin | | 11 | % | | | 16 | % | | | N/A | | | (5)pp | | | 10 | % | | | N/A | | | (6)pp \n| | | | | | | | | | | | | \nOperating expenses | | 37,266 | | | | 25,745 | | | | 11,521 | | | 45 | % | | | 38,079 | | | | 12,334 | | | 48 | % \nNet income (loss) from continuing operations | | 7,324 | | | | (1,590 | ) | | | 8,914 | | | N/M | | | | 8,219 | | | | 9,809 | | | N/M | \nAdjusted EBITDA | | (6,019 | ) | | | (15,187 | ) | | | 9,168 | | | 60 | % | | | (6,514 | ) | | | 8,673 | | | 57 | % \n| | | | | | | | | | | | | \n| **Nine months ended September 30,** | | **As Reported Change** | | **Nine months ended September 30,** | | **Constant Currency Change** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | | 38 | % | | $ | 88,456 | | | $ | 25,130 | | | 40 | % \nGross profit | | 14,391 | | | | 9,996 | | | | 4,395 | | | 44 | % | | | 14,591 | | | | 4,595 | | | 46 | % \nGross margin | | 16 | % | | | 16 | % | | | N/A | | | \u2014pp | | | 16 | % | | N/A | | \u2014pp \n| | | | | | | | | | | | | \nOperating expenses | | 79,555 | | | | 73,160 | | | | 6,395 | | | 9 | % | | | 80,415 | | | | 7,255 | | | 10 | % \nNet loss from continuing operations | | (3,919 | ) | | | (25,288 | ) | | | 21,369 | | | 85 | % | | | (2,424 | ) | | | 22,864 | | | 90 | % \nAdjusted EBITDA | | (27,739 | ) | | | (46,774 | ) | | | 19,035 | | | 41 | % | | | (28,022 | ) | | | 18,752 | | | 40 | % \n| | | | | | | | | | | | | \n| **As of September 30,** | | **As of December 31,** | | **As Reported Change** | | **As of September 30,** | | **Constant Currency Change** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 862,034 | | | $ | 669,291 | | | $ | 192,743 | | | 29 | % | | $ | 865,277 | | | $ | 195,986 | | | 29 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 862,034 | | | $ | 861,528 | | | $ | 506 | | | \u2014 | % | | $ | 865,277 | | | $ | 3,749 | | | \u2014 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended September 30,** | | **As Reported Change** | | **Three months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCannabis flower | $ | 26,328 | | $ | 17,414 | | $ | 8,914 | | 51 | % | | $ | 26,601 | | $ | 9,187 | | 53 | % \nCannabis extracts | | 7,789 | | | 7,268 | | | 521 | | 7 | % | | | 7,914 | | | 646 | | 9 | % \nOther | | 147 | | | 128 | | | 19 | | 15 | % | | | 146 | | | 18 | | 14 | % \nNet revenue | $ | 34,264 | | $ | 24,810 | | $ | 9,454 | | 38 | % | | $ | 34,661 | | $ | 9,851 | | 40 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Nine months ended September 30,** | | **As Reported Change** | | **Nine months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCannabis flower | $ | 64,514 | | $ | 44,556 | | $ | 19,958 | | | 45 | % | | $ | 65,413 | | $ | 20,857 | | | 47 | % \nCannabis extracts | | 22,580 | | | 18,495 | | | 4,085 | | | 22 | % | | | 22,823 | | | 4,328 | | | 23 | % \nOther | | 220 | | | 275 | | | (55 | ) | | (20 | )% | | | 220 | | | (55 | ) | | (20 | )% \nNet revenue | $ | 87,314 | | $ | 63,326 | | $ | 23,988 | | | 38 | % | | $ | 88,456 | | $ | 25,130 | | | 40 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended September 30,** | | **As Reported Change** | | **Three months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCanada | $ | 24,067 | | $ | 18,738 | | $ | 5,329 | | 28 | % | | $ | 24,509 | | $ | 5,771 | | 31 | % \nIsrael | | 7,259 | | | 5,673 | | | 1,586 | | 28 | % | | | 7,201 | | | 1,528 | | 27 | % \nOther countries | | 2,938 | | | 399 | | | 2,539 | | 636 | % | | | 2,951 | | | 2,552 | | 640 | % \nNet revenue | $ | 34,264 | | $ | 24,810 | | $ | 9,454 | | 38 | % | | $ | 34,661 | | $ | 9,851 | | 40 | % \n| | | | | | | | | | | | | \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Nine months ended September 30,** | | **As Reported Change** | | **Nine months ended September 30,** | | **Constant Currency Change** \n| **2024** | | **2023** | | **$** | | **%** | | **2024** | | **$** | | **%** \nCanada | $ | 62,781 | | $ | 46,767 | | $ | 16,014 | | 34 | % | | $ | 63,553 | | $ | 16,786 | | 36 | % \nIsrael | | 20,565 | | | 16,160 | | | 4,405 | | 27 | % | | | 20,908 | | | 4,748 | | 29 | % \nOther countries | | 3,968 | | | 399 | | | 3,569 | | 894 | % | | | 3,995 | | | 3,596 | | 901 | % \nNet revenue | $ | 87,314 | | $ | 63,326 | | $ | 23,988 | | 38 | % | | $ | 88,456 | | $ | 25,130 | | 40 | % \n \n \n\nFor the three months ended September 30, 2024, net revenue on a constant\ncurrency basis was $34.7 million , representing a 40% increase from the\nthree months ended September 30, 2023. For the nine months ended September 30,\n2024, net revenue on a constant currency basis was $88.5 million ,\nrepresenting a 40% increase from the nine months ended September 30, 2023.\nOn a constant currency basis, net revenue increased for the three and nine\nmonths ended September 30, 2024, primarily due to higher cannabis flower and\nextract sales in the Canadian market, higher cannabis flower sales in Israel\nand higher cannabis flower sales in other countries, partially offset by an\nadverse price/mix in the Canadian adult-use cannabis flower category driving\nincreased excise tax payments as a percentage of net revenue. On a constant\ncurrency basis, the Cronos GrowCo transaction contributed $4.3 million of\ncannabis flower sales in both the three and nine months ended September 30,\n2024. No such sales were recognized for the three and nine months ended\nSeptember 30, 2023.\n\n_Gross profit_\n\nFor the three months ended September 30, 2024, gross profit on a constant\ncurrency basis was $3.6 million , representing a 9% decrease from the\nthree months ended September 30, 2023. For the nine months ended September 30,\n2024, gross profit on a constant currency basis was $14.6 million ,\nrepresenting a 46% increase from the nine months ended September 30, 2023.\nOn a constant currency basis, gross profit decreased for the three-month\ncomparative periods primarily due to the impact on cost of sales from the\ninventory step-up from the Cronos GrowCo transaction, partially offset by\nhigher cannabis flower and extract sales in the Canadian market, higher\ncannabis flower sales in Israel and higher cannabis flower sales in other\ncountries. For the nine month comparative period, the increase was primarily\ndue to higher cannabis flower and extract sales in the Canadian market, higher\ncannabis flower sales in Israel and higher cannabis flower sales in other\ncountries, partially offset by the impact on cost of sales from the inventory\nstep-up from the Cronos GrowCo transaction. On a constant currency basis, for\nboth the three and nine months ended September 30, 2024, we recognized $7.2\nmillion of inventory step-up from the Cronos GrowCo transaction in cost of\nsales. No such costs were recognized for the three and nine months ended\nSeptember 30, 2023.\n\n_Operating expenses_\n\nFor the three months ended September 30, 2024, operating expenses on a\nconstant currency basis were $38.1 million , representing a 48% increase\nfrom the three months ended September 30, 2023. For the nine months ended\nSeptember 30, 2024, operating expenses on a constant currency basis were\n$80.4 million , representing a 10% increase from the nine months ended\nSeptember 30, 2023. On a constant currency basis, operating expenses increased\nfor the three and nine months ended September 30, 2024, primarily due to the\nimpairment of the Ginkgo exclusive licenses, partially offset by lower\nsalaries and benefits, professional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor the three months ended September 30, 2024, net income from continuing\noperations on a constant currency basis was $8.2 million , representing an\nimprovement of $9.8 million from the three months ended September 30, 2023.\nFor the nine months ended September 30, 2024, net loss from continuing\noperations on a constant currency basis was $2.4 million , representing an\nimprovement of $22.9 million from the nine months ended September 30, 2023.\n\n_Adjusted EBITDA_\n\nFor the three months ended September 30, 2024, Adjusted EBITDA on a constant\ncurrency basis was $(6.5) million , representing a 57% improvement from\nthe three months ended September 30, 2023. For the nine months ended September\n30, 2024, Adjusted EBITDA on a constant currency basis was $(28.0) million ,\nrepresenting a 40% improvement from the nine months ended September 30,\n2023. The improvement in Adjusted EBITDA for the three and nine months ended\nSeptember 30, 2024 on a constant currency basis was driven by higher cannabis\nflower and extract sales in the Canadian market, higher cannabis flower sales\nin Israel and decreases in general and administrative expenses, partially\noffset by an adverse price/mix in Canada in the cannabis flower category\ndriving increased excise tax payments as a percentage of net revenue.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis was essentially unchanged at $865.3 million as of September 30, 2024,\ncompared to December 31, 2023.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nSeptember 30, 2024, September 30, 2023, and December 31, 2023. Transactions\naffecting the shareholders\u2019 equity (deficit) are translated at historical\nforeign exchange rates. The condensed consolidated statements of net income\n(loss) and comprehensive income (loss) and condensed consolidated statements\nof cash flows of our foreign operations are translated into dollars by\napplying the average foreign exchange rate in effect for the reporting period\nas reported on Bloomberg. The exchange rates used to translate from USD to\nCanadian dollars (\u201cC$\u201d) and Israeli New Shekels (\"ILS\") are shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As of** \n---|--- \n| **September 30, 2024** | | **September 30, 2023** | | **December 31, 2023** \nSpot rate | 1.3525 | | 1.3577 | | 1.3243 \nYear-to-date average rate | 1.3601 | | 1.3455 | | N/A \n \n \n\n_(Exchange rates are shown as ILS per $)_ | **As of** \n---|--- \n| **September 30, 2024** | | **September 30, 2023** | | **December 31, 2023** \nSpot rate | 3.7269 | | 3.8138 | | 3.6163 \nYear-to-date average rate | 3.6994 | | 3.6385 | | N/A \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com \n\n[ ](https://www.stocktitan.net/news/CRON/ \"Cronos Group CRON Stock News\")\n\nCronos Group\n\n### NASDAQ: [ CRON ](/news/CRON/)\n\n### CRON Rankings\n\n[ **N/A** Ranked by Market Cap ](/rankings/companies-market-cap/link-\nsymbol?s=CRON)\n\n[ **N/A** Ranked by Dividends ](/rankings/companies-dividends/link-\nsymbol?s=CRON)\n\n### CRON Latest News\n\nApr 24, 2025\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](/news/CRON/cronos-group-inc-to-hold-2025-first-quarter-earnings-\nconference-call-a31lvj1gc0md.html)\n\nApr 22, 2025\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](/news/CRON/cronos-unveils-new-\nspinach-1-2g-vapes-and-sourz-by-spinach-gummies-4hxc93v32fr4.html)\n\nMar 19, 2025\n\n[ Cronos Appoints Anna Shlimak as Chief Financial Officer ](/news/CRON/cronos-\nappoints-anna-shlimak-as-chief-financial-8vgelca718es.html)\n\nMar 10, 2025\n\n[ Cronos Group Inc. to Speak at the 37th Annual Roth Conference\n](/news/CRON/cronos-group-inc-to-speak-at-the-37th-annual-roth-\nxcxhnyellcyc.html)\n\nFeb 27, 2025\n\n[ Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n](/news/CRON/cronos-group-reports-2024-fourth-quarter-and-full-year-\nft1pmfo4ixz2.html)\n\n### CRON Stock Data __\n\n657.95M\n\n197.70M\n\n46.39%\n\n14.32%\n\n1.19%\n\nDrug Manufacturers - Specialty & Generic\n\nMedicinal Chemicals & Botanical Products\n\n[ Link ](https://www.thecronosgroup.com)\n\nCanada\n\nSTAYNER\n\nExplore\n\n * [ About ](/about)\n * [ Rhea-AI ](/rhea-ai.html)\n * [ Sitemap ](/sitemap/news)\n\nLegal\n\n * [ Terms of Use ](/terms-of-use)\n * [ Cookie Notice ](/cookies)\n * [ Privacy Policy ](/privacy)\n\nLinks\n\n * [ RSS feed ](https://www.stocktitan.net/rss)\n * [ Discord Server ](https://discord.gg/B9J4P9XW2G)\n * [ Facebook ](https://www.facebook.com/stocktitan.net)\n * [ Reddit ](https://www.reddit.com/r/StockTitan/)\n\n\u00a9 2020-2025 StockTitan.net\n\nLogin\n\nPlease enter your login and password\n\nWrong username or password.\n\nDon't have an account? Sign Up!\n\nForgot Password\n\nPlease enter your email address\n\nAn email has been sent to your address with instructions for changing your\npassword.\n\nThere is no user registered with this email.\n\nSign Up\n\nTo create a free account, please fill out the form below.\n\nThank you for signing up! \nA confirmation email has been sent to your email address. Please check your\nemail and follow the instructions in the message to complete the registration\nprocess. If you do not receive the email, please check your spam folder or\ncontact us for assistance. \nWelcome to our platform!\n\nOops! \nSomething went wrong while trying to create your new account. Please try again\nand if the problem persist, [ Email Us ](mailto:info@stocktitan.net) to\nreceive support.\n\nAlready have an account? Login\n\n",
"url": "https://www.stocktitan.net/news/CRON/cronos-group-reports-2024-third-quarter-m7eusx8000jz.html"
},
"reason": "StockTitan aggregates news, including press releases. This article reports on Cronos Group's third-quarter results. The information is sourced from the company, making it reliable for factual data but potentially biased.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos Group Reports 2024 Third Quarter.",
"url": "https://www.stocktitan.net/news/CRON/cronos-group-reports-2024-third-quarter-m7eusx8000jz.html"
},
{
"content": {
"metadata": {
"ext_id": "03358484-ad25-4b27-9799-352f4584c254",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.360energy.net/resources/success-stories/cronos"
},
"page_content": "[ ](/)\n\nProudly Canadian Since 1995.\n\n[ ](/)\n\nStay Connected \u00e2\u0080\u0093 Join Our Newsletter\n\nThank you! Your submission has been received!\n\nOops! Something went wrong while submitting the form.\n\nSolutions\n\n[ 360 ECOS ](/solutions/360-ecos) [ Envirally ](http://envirally.io) [ 360\nCarbon Excellence ](/solutions/carbon-excellence) [ 360 GrO\n](/solutions/360-gro)\n\nCompany\n\n[ Why Us ](/company/about-us) [ Press ](/company/press) [ Contact Us\n](/company/contact-us) [ Book A Meeting ](/book-a-meeting) [ Client Login\n](https://ub.skgtech.com/Identity/Account/Login)\n\nResources\n\n[ Success Stories ](/resources/success-stories) [ FAQs ](/resources/faqs) [\nArticles ](/resources/articles) [ Podcast ](/resources/podcast-the-360-on-\nenergy-and-carbon) [ White Papers ](/resources/white-papers) [ Webinars\n](/resources/webinars)\n\n[ ](https://www.facebook.com/360Energyinc)\n\n[ ](https://www.instagram.com/360_energy/)\n\n[ ](https://www.linkedin.com/company/360-energy/)\n\n[ ](https://x.com/360_energy)\n\n[ ](https://podcasts.apple.com/us/podcast/the-360-on-energy-and-\ncarbon/id1573283942)\n\n[ ](https://open.spotify.com/show/53JLpEfnSjlf1Lg1avIsbl?si=a69cc0b043494a19)\n\n[ ](https://www.youtube.com/playlist?list=PLjnrOUgCCGHi7ePs1P1gHYLQux_XaGbL4)\n\n\u00c2\u00a9 2025 360 Energy Inc. All right reserved.\n\n[ Privacy Policy ](/legal/privacy-policy) [ Terms and Conditions\n](/legal/terms-conditions) Cookies Settings\n\n",
"url": "https://www.360energy.net/resources/success-stories/cronos"
},
"reason": "This is a success story published by 360 Energy about their client Cronos Group. While it provides insights, it is likely biased towards presenting a positive outcome of their services.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Success story of Cronos Group by 360 Energy.",
"url": "https://www.360energy.net/resources/success-stories/cronos"
},
{
"content": {
"metadata": {
"ext_id": "bc7eaea8-21c3-4390-9a7e-46eb6e195690",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.linkedin.com/company/cronos-esg/"
},
"page_content": "Skip to main content\n\n# CRONOS ESG\n\n## IT Services and IT Consulting\n\n### Kontich, Flemish Region 583 followers\n\n#### Building a stronger, greener business together. End-to-end guidance and\nsupport for sustainable business practices.\n\n[ Follow\n](https://www.linkedin.com/login?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&fromSignIn=true&trk=top-card_top-card-secondary-button-top-card-secondary-\ncta)\n\n * [ Report this company ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=top-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=COMPANY&_f=guest-reporting)\n\n## About us\n\nCRONOS ESG, part of De Cronos Groep, supports businesses in enhancing their\nsustainability efforts throughout the entire journey by combining diverse\nskills and expertise. Our Cronos ESG Community members are a diverse group of\nexperts dedicated to Environmental, Social, and Governance (ESG) practices.\nYou can benefit from tailored expertise and specialized skills, a\ncollaborative approach, continuous learning, and innovative solutions that\ndrive sustainability leadership.\n\nWebsite\n\n [ www.cronos-esg.be/ ](https://www.linkedin.com/redir/redirect?url=http%3A%2F%2Fwww%2Ecronos-esg%2Ebe%2F&urlhash=wxOw&trk=about_website)\n\nExternal link for CRONOS ESG\n\nIndustry\n\n IT Services and IT Consulting \n\nCompany size\n\n 5,001-10,000 employees \n\nHeadquarters\n\n Kontich, Flemish Region \n\nType\n\n Privately Held \n\nFounded\n\n 2024 \n\nSpecialties\n\n ESG, Sustainability, Maturity Assessments, Communication, Governance, Data Services, Footprint analysis, Technology, Microsoft, SAP , Accesibility, Community engagement, Project Management, Reporting, CSRD, ESRS, GRI, EU Taxonomy, EPC, Green Building, Energy Audit, Sustainability Manager, Tool selection & implementation, Sustainable HR, Diversity & Inclusion, Data reporting, Compliancy, and Regulatory \n\n## Locations\n\n * Primary \n\nVeldkant 33A\n\nKontich, Flemish Region 2550, BE\n\n[ Get directions\n](https://www.bing.com/maps?where=Veldkant+33A+Kontich+2550+Flemish+Region+BE&trk=org-\nlocations_url)\n\n * Gent, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Gent+BE&trk=org-\nlocations_url)\n\n * Antwerp, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Antwerp+BE&trk=org-\nlocations_url)\n\n * Brussels, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Brussels+BE&trk=org-\nlocations_url)\n\n * Hasselt, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Hasselt+BE&trk=org-\nlocations_url)\n\n * Kortrijk, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Kortrijk+BE&trk=org-\nlocations_url)\n\n * Leuven, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Leuven+BE&trk=org-\nlocations_url)\n\n## Updates\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-experience-day-activity-7313478544972558339-OEjS)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n3w\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udde6\ud835\uddf5\ud835\uddee\ud835\uddff\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf6\ud835\uddfb\ud835\ude00\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01\ud835\ude00 \ud835\uddee\ud835\ude01 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddd8\ud835\ude05\ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\uddf6\ud835\uddf2\ud835\uddfb\ud835\uddf0\ud835\uddf2 \ud835\uddd7\ud835\uddee\ud835\ude06! \ud83c\udf0d Last week, Cronos ESG\ntook the stage at [ De Cronos Groep\n](https://be.linkedin.com/company/cronos?trk=organization_guest_main-feed-\ncard-text) \u2019s Sustainability Experience Day! \ud83c\udfa4\u267b\ufe0f We showcased how the ESG\nCommunity within Cronos brings together expertise, leverages data as a\nfoundation, and harnesses De Cronos Groep\u2019s ecosystem to drive real\nsustainability impact. Through targeted strategies and strong communication,\nwe amplify change and bring actionable solutions to the market. \ud83d\ude80 \ud83d\udca1 And that\u2019s\nnot all! Other Cronos ESG experts led inspiring sessions on Digital Product\nPassports (DPP), Sustainable HR, Change & Impact, and more. A big thank you to\n[ Jocelijn Geurts ](https://be.linkedin.com/in/jocelijngeurts-\nduurzaamondernemen?trk=organization_guest_main-feed-card-text) and MVO Cronos\nfor the invitation! \ud83d\ude4c [ #Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #Event\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fevent&trk=organization_guest_main-\nfeed-card-text) [ #Leadership\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fleadership&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n` ` ` `\n\n[ 14\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` ` [ 1 Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-comments)\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_worldovershootday-sustainablebusiness-activity-7310948792034357250-fp8x)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n4w\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d Today is \ud835\uddea\ud835\uddfc\ud835\uddff\ud835\uddf9\ud835\uddf1 \ud835\udde2\ud835\ude03\ud835\uddf2\ud835\uddff\ud835\ude00\ud835\uddf5\ud835\uddfc\ud835\uddfc\ud835\ude01 \ud835\uddd7\ud835\uddee\ud835\ude06 \u2014a stark reminder that our current way of doing\nbusiness is exceeding the planet\u2019s limits. But what if companies became the\ndriving force behind real change? Sustainability isn\u2019t just an ethical choice;\nit\u2019s a business imperative. By making operations more sustainable,\norganizations can reduce costs, increase efficiency, and build long-term\nresilience. At Cronos ESG, we support businesses in: \u2714\ufe0f Embedding\nsustainability into decision-making \u2714\ufe0f Developing measurable ESG strategies \u2714\ufe0f\nTurning ambitions into tangible action \u2714\ufe0f And so much more \ud83d\udca1 Let\u2019s move the\ndate back together. Learn how we can help you: [ https://cronos-esg.be/\n](https://cronos-esg.be/?trk=organization_guest_main-feed-card-text) [\n#WorldOvershootDay\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fworldovershootday&trk=organization_guest_main-\nfeed-card-text) [ #SustainableBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainablebusiness&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 2\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_greenbusiness-sustainabilityleadership-activity-7310223945033482241-nZN7)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83d\ude80 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddf6\ud835\ude00 \ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddf2 \ud835\ude01\ud835\uddf5\ud835\uddee\ud835\uddfb \ud835\uddee \ud835\ude01\ud835\uddff\ud835\uddf2\ud835\uddfb\ud835\uddf1\u2014\ud835\uddf6\ud835\ude01\u2019\ud835\ude00 \ud835\uddee \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf2\ud835\ude01\ud835\uddf6\ud835\ude01\ud835\uddf6\ud835\ude03\ud835\uddf2 \ud835\uddee\ud835\uddf1\ud835\ude03\ud835\uddee\ud835\uddfb\ud835\ude01\ud835\uddee\ud835\uddf4\ud835\uddf2. Businesses\nthat prioritize sustainability don\u2019t just reduce their environmental impact;\nthey also cut costs, improve efficiency, and enhance brand loyalty. But not\nevery company has the in-house expertise to build and execute a strong ESG\nstrategy. That\u2019s why we created Sustainability Manager as a Service (SMaaS)\u2014to\nprovide businesses with the expert leadership they need, on a flexible basis.\n\ud835\uddea\ud835\uddf5\ud835\ude06 \ud835\uddf0\ud835\uddf5\ud835\uddfc\ud835\uddfc\ud835\ude00\ud835\uddf2 \ud835\udde6\ud835\udde0\ud835\uddee\ud835\uddee\ud835\udde6? \u2714 No need for a full-time hire\u2014cost-effective & scalable \u2714\nAccess to top-tier sustainability expertise \u2714 Clear, actionable strategies\nthat deliver measurable results \u2714 Support for compliance, reporting, and\nstakeholder engagement \ud83d\udca1 Let\u2019s make sustainability work for your\nbusiness\u2014reach out now: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#GreenBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgreenbusiness&trk=organization_guest_main-\nfeed-card-text) [ #SustainabilityLeadership\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainabilityleadership&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_gs1forum2025-sustainablebusiness-circulareconomy-activity-7308415035825897474-LAH6)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d Our community members [ Tracked ](https://be.linkedin.com/company/tracked-\nbe?trk=organization_guest_main-feed-card-text) and [ Zeticon\n](https://be.linkedin.com/company/zeticon?trk=organization_guest_main-feed-\ncard-text) are attending the [ GS1 Belgium & Luxembourg\n](https://be.linkedin.com/company/gs1-belgium&luxembourg?trk=organization_guest_main-\nfeed-card-text) Forum 2025 today! This annual event brings together\nprofessionals from various industries, and this year\u2019s theme, \ud835\udde5\ud835\uddf2\ud835\uddf1\ud835\uddf2\ud835\uddf3\ud835\uddf6\ud835\uddfb\ud835\uddf6\ud835\uddfb\ud835\uddf4\n\ud835\uddd5\ud835\ude02\ud835\ude00\ud835\uddf6\ud835\uddfb\ud835\uddf2\ud835\ude00\ud835\ude00 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddee \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\udde7\ud835\uddfc\ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddff\ud835\uddfc\ud835\ude04, aligns perfectly with our shared vision\nof a more sustainable future. \ud83d\udd0d Visit their booth and discover how product\ntransparency and sustainability goals can be optimised by combining the power\nof Intelligent Information Management (IIM) and the Digital Product Passport\n(DPP). The DPP, a legal requirement under the European Green Deal, ensures\ntraceability and authenticity of your products. It also contains detailed\ninformation on reuse and recycling, driving circularity. \ud83d\udca1 Speak with our\nexperts about their insights and experience with the DPP, and learn how to\nprepare your organisation efficiently for a sustainable future! [\n#GS1Forum2025\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgs1forum2025&trk=organization_guest_main-\nfeed-card-text) [ #SustainableBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainablebusiness&trk=organization_guest_main-\nfeed-card-text) [ #CircularEconomy\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcirculareconomy&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 11\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-sustainableit-esg-activity-7307687297473282049-zmAw)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udddc\ud835\ude00 \ud835\ude06\ud835\uddfc\ud835\ude02\ud835\uddff \ud835\udddc\ud835\udde7 \ud835\uddf1\ud835\uddf2\ud835\uddfd\ud835\uddee\ud835\uddff\ud835\ude01\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 \ud835\uddf1\ud835\uddff\ud835\uddf6\ud835\ude03\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddf3\ud835\uddfc\ud835\uddff\ud835\ude04\ud835\uddee\ud835\uddff\ud835\uddf1? \ud83d\udcbb\ud83c\udf31 Our \ud835\udddc\ud835\udde7 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06\n\ud835\udde0\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddd4\ud835\ude00\ud835\ude00\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 evaluates your IT department\u2019s sustainability maturity\nacross Environmental, Social, and Governance (ESG) aspects. Through a\ncomprehensive qualitative survey, we identify strengths and areas for\nimprovement, providing immediate implementation ideas. Based on the insights\ngathered, we develop tailored recommendations and an action plan to help your\nIT team advance its sustainability efforts. Ready to take your IT\nsustainability strategy to the next level? \ud83d\ude80 Ready to improve your IT\nsustainability? Reach out to us today: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #SustainableIT\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainableit&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_webinar-epcnr-esg-activity-7305875413430398976-Qirk)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83d\udd34 \ud835\udff4\ud835\udfec% \ud835\uddfc\ud835\uddf3 \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddee\ud835\uddfb\ud835\uddf6\ud835\uddf2\ud835\ude00 \ud835\uddee\ud835\uddff\ud835\uddf2 \ud835\udde1\ud835\udde2\ud835\udde7 \ud835\uddff\ud835\uddf2\ud835\uddee\ud835\uddf1\ud835\ude06 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddd8\ud835\udde3\ud835\uddd6 \ud835\udde1\ud835\udde5. \ud835\uddd4\ud835\uddff\ud835\uddf2 \ud835\ude06\ud835\uddfc\ud835\ude02? Starting January 1,\n2025, all non-residential buildings over 1,000 m\u00b2 must have an EPC NR\ncertificate\u2014no exceptions. Smaller buildings? Your deadline is January 1,\n2026. \u2757 Failure to comply could result in fines from VEKA. Not sure where to\nstart? We've got you covered! Join the free webinar of [ EPBeter\n](https://be.linkedin.com/company/epbeter?trk=organization_guest_main-feed-\ncard-text) , member of our Cronos ESG Community, to get clear, practical\ninsights on what EPC NR means for your business and how to prepare in time. \ud83d\udcc5\nTuesday, March 25 \ud83d\udd50 13:00 \ud83d\udd17 Register now: [ https://lnkd.in/e2TA2pPx\n](https://lnkd.in/e2TA2pPx?trk=organization_guest_main-feed-card-text) [\n#webinar\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fwebinar&trk=organization_guest_main-\nfeed-card-text) [ #EPCNR\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fepcnr&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` ` [ 1 Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-comments)\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_esg-sustainability-impact-activity-7305150569046822912-vz5Y)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo Edited\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0e \ud835\udde2\ud835\uddfa\ud835\uddfb\ud835\uddf6\ud835\uddef\ud835\ude02\ud835\ude00 \ud835\uddee\ud835\uddfb\ud835\uddf1 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddf3\ud835\ude02\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2 \ud835\uddfc\ud835\uddf3 \ud835\uddd8\ud835\udde6\ud835\uddda: \ud835\ude04\ud835\uddf5\ud835\uddee\ud835\ude01\u2019\ud835\ude00 \ud835\uddfb\ud835\uddf2\ud835\ude05\ud835\ude01? The EU's \ud835\udde2\ud835\udde0\ud835\udde1\ud835\udddc\ud835\uddd5\ud835\udde8\ud835\udde6 \ud835\uddf1\ud835\uddf6\ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\ude01\ud835\uddf6\ud835\ude03\ud835\uddf2 eases\nreporting requirements, but does this mean ESG is losing relevance? Absolutely\nnot\u2014it\u2019s shifting from obligation to opportunity. \ud83d\udd0e \ud835\uddde\ud835\uddf2\ud835\ude06 \ud835\uddf0\ud835\uddf5\ud835\uddee\ud835\uddfb\ud835\uddf4\ud835\uddf2\ud835\ude00: \u2022 CSRD aligns\nwith CSDDD, meaning new obligations will apply only to companies with 1,000+\nemployees and \u20ac50M+ revenue. \u2022 The second wave of CSRD reporting has been\npostponed by two years. \u2022 CSDDD: due diligence requirements have been\nrestricted, and civil liability has been removed. \u2022 Double Materiality remains\nessential \u2013 companies must still report on both financial and impact\nmateriality. \u2022 The EU Taxonomy has evolved into VSME (Voluntary Sustainability\nReporting Standard). \ud83d\udca1 \ud835\uddd8\ud835\udde6\ud835\uddda \ud835\uddf6\ud835\ude00\ud835\uddfb\u2019\ud835\ude01 \ud835\uddf7\ud835\ude02\ud835\ude00\ud835\ude01 \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf9\ud835\uddf6\ud835\uddee\ud835\uddfb\ud835\uddf0\ud835\uddf2\u2014\ud835\uddf6\ud835\ude01\u2019\ud835\ude00 \ud835\uddee \ud835\ude00\ud835\ude01\ud835\uddff\ud835\uddee\ud835\ude01\ud835\uddf2\ud835\uddf4\ud835\uddf6\ud835\uddf0 \ud835\uddee\ud835\uddf1\ud835\ude03\ud835\uddee\ud835\uddfb\ud835\ude01\ud835\uddee\ud835\uddf4\ud835\uddf2.\n\ud835\udddb\ud835\uddf2\ud835\uddff\ud835\uddf2\u2019\ud835\ude00 \ud835\ude04\ud835\uddf5\ud835\ude06: \ud83d\udc49 Transparency builds trust. A strong ESG foundation enhances\nbrand reputation, customer loyalty, and market position. \ud83d\udc49 Sustainable\nbusinesses perform better. They are more resilient to market shifts and\nconsistently achieve superior long-term financial results. \ud83d\udc49 A proactive ESG\nstrategy drives innovation. It positions you ahead of regulatory changes,\nattracts top talent, and makes you more appealing to investors. What\u2019s your\ntake? Let\u2019s connect and explore how we can support your ESG strategy! [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #Impact\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fimpact&trk=organization_guest_main-\nfeed-card-text) [ #CSDDD\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcsddd&trk=organization_guest_main-\nfeed-card-text) [ #CSRD\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcsrd&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-maturityassessment-esg-activity-7302632392656113664-cacO)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udddb\ud835\uddfc\ud835\ude04 \ud835\uddfa\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2 \ud835\uddf6\ud835\ude00 \ud835\ude06\ud835\uddfc\ud835\ude02\ud835\uddff \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\ude00\ud835\ude01\ud835\uddff\ud835\uddee\ud835\ude01\ud835\uddf2\ud835\uddf4\ud835\ude06? \ud83c\udf3f Our \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\udde0\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf6\ud835\ude01\ud835\ude06\n\ud835\uddd4\ud835\ude00\ud835\ude00\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 provides a clear picture of where your organization stands in its\nsustainability journey. We evaluate key areas such as energy use, waste\nmanagement, and social responsibility, benchmarking your performance against\nindustry standards. By identifying strengths and areas for improvement, we\ndeliver \ud835\uddee\ud835\uddf0\ud835\ude01\ud835\uddf6\ud835\uddfc\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\uddf6\ud835\uddfb\ud835\ude00\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01\ud835\ude00 that help you strategically plan and prioritize\nsustainability initiatives. Ready to take the next step toward a more\nsustainable future? Let\u2019s assess your progress together. \ud83d\udce9 Contact us to learn\nmore: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #MaturityAssessment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fmaturityassessment&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_community-futureproof-esg-activity-7300801953373061120-lJdk)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\nSustainability is more than a goal\u2014it\u2019s a continuous challenge that requires\n\ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddff\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01 \ud835\uddf2\ud835\ude05\ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\ude01\ud835\uddf6\ud835\ude00\ud835\uddf2 \ud83d\udd0d No single perspective has all the answers, which is why\ncollaboration is essential. At Cronos ESG, we unite experts across different\nEnvironmental, Social and Governance fields to tackle challenges from multiple\nangles. By combining knowledge, we don\u2019t just adapt\u2014we drive lasting impact. \ud83d\udca1\nCurious how our expertise can support your sustainability goals and strategy?\nLet\u2019s talk: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) \ud83d\udce9 [\n#Community\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcommunity&trk=organization_guest_main-\nfeed-card-text) [ #FutureProof\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Ffutureproof&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_gis-climatechange-esg-activity-7300077140639707136-dSl9)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d \ud835\uddd6\ud835\uddee\ud835\uddfb \ud835\uddda\ud835\udddc\ud835\udde6 \ud835\ude01\ud835\uddf2\ud835\uddf0\ud835\uddf5\ud835\uddfb\ud835\uddfc\ud835\uddf9\ud835\uddfc\ud835\uddf4\ud835\ude06 \ud835\uddf1\ud835\uddff\ud835\uddf6\ud835\ude03\ud835\uddf2 \ud835\uddee \ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddf2 \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\uddf3\ud835\ude02\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2? \ud83c\udf31 Geographical\nInformation Systems (GIS) are changing the game for businesses and\nmunicipalities, enabling data-driven decisions for climate action and\nsustainability. Here are three keyways GIS is making an impact: \ud83d\udcca \ud835\uddd8\ud835\udde6\ud835\uddda\n\ud835\udde5\ud835\uddf2\ud835\uddfd\ud835\uddfc\ud835\uddff\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddd6\ud835\udde6\ud835\udde5\ud835\uddd7 \ud835\uddd6\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf9\ud835\uddf6\ud835\uddee\ud835\uddfb\ud835\uddf0\ud835\uddf2 \u2013 GIS visualizes crucial environmental data,\nlike CO\u2082 emissions and biodiversity, helping organizations comply with CSRD\nand ESRS regulations. \ud83c\udf33 \ud835\uddd6\ud835\uddff\ud835\uddf2\ud835\uddee\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddda\ud835\uddff\ud835\uddf2\ud835\uddf2\ud835\uddfb\ud835\uddf2\ud835\uddff \ud835\uddd6\ud835\uddf6\ud835\ude01\ud835\uddf6\ud835\uddf2\ud835\ude00 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\udfef-\ud835\udfef\ud835\udfec-\ud835\udfef\ud835\udfec\ud835\udfec \ud835\udde5\ud835\ude02\ud835\uddf9\ud835\uddf2 \u2013 GIS\nplays a vital role in planning and tracking urban green spaces, promoting\nhealthier communities. \u26a0\ufe0f \ud835\udde5\ud835\uddf6\ud835\ude00\ud835\uddf8 \ud835\uddd9\ud835\uddfc\ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\uddee\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\udde6\ud835\uddfa\ud835\uddee\ud835\uddff\ud835\ude01\ud835\uddf2\ud835\uddff \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\ude00 \u2013 GIS helps\nmap environmental risks, such as flooding or pollution, empowering businesses\nto minimize risk exposure. \ud83d\udd17 Explore how GIS technology is supporting\nsustainable strategies. Read the full case here: [ https://lnkd.in/eUMBKXRW\n](https://lnkd.in/eUMBKXRW?trk=organization_guest_main-feed-card-text) We\nappreciate [ GeoWeave\n](https://be.linkedin.com/company/geoweave?trk=organization_guest_main-feed-\ncard-text) for teaming up with us on this valuable case! \ud83d\ude4c [ #GIS\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgis&trk=organization_guest_main-\nfeed-card-text) [ #ClimateChange\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fclimatechange&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 8\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n` ` ` ` ` `\n\n## Join now to see what you are missing\n\n * Find people you know at CRONOS ESG \n * Browse recommended jobs for you \n * View all updates, news, and articles \n\n[ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=public_biz_promo-join)\n\n## Similar pages\n\n * ### [ De Cronos Groep Information Technology & Services ](https://be.linkedin.com/company/cronos?trk=similar-pages)\n * ### [ Oxygen Group IT Services and IT Consulting ](https://be.linkedin.com/company/this-is-oxygen-group?trk=similar-pages)\n * ### [ Cronos Business Services IT Services and IT Consulting ](https://be.linkedin.com/company/cronos-business-services?trk=similar-pages)\n * ### [ openlab suisse Business Consulting and Services ](https://ch.linkedin.com/company/openlab-suisse?trk=similar-pages)\n * ### [ ARK - Marketing Intelligence As A Service Marketing Services Antwerp, Flemish Region ](https://be.linkedin.com/company/ark-revenue-growth-by-performance-marketing?trk=similar-pages)\n * ### [ Pygmaline Law Practice ](https://www.linkedin.com/company/pygmaline?trk=similar-pages)\n * ### [ Collon: collectief ondernemers Business Consulting and Services ](https://www.linkedin.com/company/collon-collectiefondernemers?trk=similar-pages)\n * ### [ Factivity Public Relations and Communications Services Edegem, Belgi\u00eb ](https://be.linkedin.com/company/factivity-agency?trk=similar-pages)\n * ### [ ESG-simplified Business Consulting and Services ](https://be.linkedin.com/company/esgsimplified?trk=similar-pages)\n * ### [ Pro-Active Advertising Services Antwerpen, Antwerpen ](https://be.linkedin.com/company/pro-active-data-driven-agency?trk=similar-pages)\n\n * * [ Product Manager jobs ](https://www.linkedin.com/jobs/product-manager-jobs?trk=organization_guest_linkster_link)\n * [ Freelance Marketing jobs ](https://www.linkedin.com/jobs/freelance-marketing-jobs?trk=organization_guest_linkster_link)\n\n * [ Marketing Assistant jobs ](https://www.linkedin.com/jobs/marketing-assistant-jobs?trk=organization_guest_linkster_link)\n * [ Marketing Specialist jobs ](https://www.linkedin.com/jobs/marketing-specialist-jobs?trk=organization_guest_linkster_link)\n\n * LinkedIn \u00a9 2025 \n * [ About ](https://about.linkedin.com?trk=d_org_guest_company_overview_footer-about)\n * [ Accessibility ](https://www.linkedin.com/accessibility?trk=d_org_guest_company_overview_footer-accessibility)\n * [ User Agreement ](https://www.linkedin.com/legal/user-agreement?trk=d_org_guest_company_overview_footer-user-agreement)\n * [ Privacy Policy ](https://www.linkedin.com/legal/privacy-policy?trk=d_org_guest_company_overview_footer-privacy-policy)\n * [ Your California Privacy Choices ](https://www.linkedin.com/legal/california-privacy-disclosure?trk=d_org_guest_company_overview_footer-california-privacy-rights-act)\n * [ Cookie Policy ](https://www.linkedin.com/legal/cookie-policy?trk=d_org_guest_company_overview_footer-cookie-policy)\n * [ Copyright Policy ](https://www.linkedin.com/legal/copyright-policy?trk=d_org_guest_company_overview_footer-copyright-policy)\n * [ Brand Policy ](https://brand.linkedin.com/policies?trk=d_org_guest_company_overview_footer-brand-policy)\n * [ Guest Controls ](https://www.linkedin.com/psettings/guest-controls?trk=d_org_guest_company_overview_footer-guest-controls)\n * [ Community Guidelines ](https://www.linkedin.com/legal/professional-community-policies?trk=d_org_guest_company_overview_footer-community-guide)\n * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * \n\n` ` ` ` ` ` ` ` ` ` ` `\n\n## Sign in to see who you already know at CRONOS ESG\n\n## Welcome back\n\n` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=organization_guest_contextual-sign-in-\nmodal_sign-in-modal_auth-button_user-agreement) , [ Privacy Policy\n](/legal/privacy-policy?trk=organization_guest_contextual-sign-in-modal_sign-\nin-modal_auth-button_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=organization_guest_contextual-sign-in-modal_sign-in-modal_auth-\nbutton_cookie-policy) .\n\nNew to LinkedIn? [ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_contextual-sign-in-modal_sign-in-modal_join-link)\n\nor\n\nNew to LinkedIn? [ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_contextual-sign-in-modal_join-link)\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=linkedin-tc_auth-button_user-agreement)\n, [ Privacy Policy ](/legal/privacy-policy?trk=linkedin-tc_auth-\nbutton_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=linkedin-tc_auth-button_cookie-policy) .\n\nLinkedIn\n\nLinkedIn is better on the app\n\nDon\u2019t have the app? Get it in the Microsoft Store.\n\n[ Open the app ](ms-windows-\nstore://pdp/?ProductId=9WZDNCRFJ4Q7&mode=mini&cid=guest_desktop_upsell)\n\n` ` ` `\n\n",
"url": "https://www.linkedin.com/company/cronos-esg/"
},
"reason": "This is the LinkedIn page for Cronos Group. LinkedIn company pages provide company-created content and information, which is generally reliable but may be presented in a favorable light.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "LinkedIn page for Cronos Group.",
"url": "https://www.linkedin.com/company/cronos-esg/"
},
{
"content": {
"metadata": {
"ext_id": "2da63f55-7cc5-46a6-84af-aa5515a94539",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://finance.yahoo.com/quote/CRON/"
},
"page_content": "Oops, something went wrong\n\nUnlock stock picks and a broker-level newsfeed that powers Wall Street.\n\nNasdaqGM - Delayed Quote \u2022 USD\n\n# Cronos Group Inc. (CRON)\n\n1.7900\n\n+0.0200\n\n+(1.13%)\n\nAt close: April 23 at 4:00:01 PM EDT\n\n1.7900\n\n0.00\n\n(0.00%)\n\nPre-Market: 9:25:04 AM EDT\n\n[ Advanced Chart ](/chart/CRON)\n\nLoading Chart for CRON\n\n * Previous Close 1.7700 \n * Open 1.7800 \n * Bid 1.7700 x 800 \n * Ask 1.8200 x 800 \n * Day's Range 1.7600 - 1.8100 \n * 52 Week Range 1.6000 - 3.1400 \n * Volume 1,172,175 \n * Avg. Volume 1,632,049 \n * Market Cap (intraday) 684.99M \n * Beta (5Y Monthly) 1.42 \n * PE Ratio (TTM) 16.27 \n * EPS (TTM) 0.1100 \n * Earnings Date May 7, 2025 - May 12, 2025 \n * Forward Dividend & Yield \\-- \n * Ex-Dividend Date \\-- \n * 1y Target Est 1.94 \n\nCronos Group Inc. operates as a cannabinoid company that engages in the\ncultivation, production, distribution, and marketing of cannabis products in\nCanada, Israel, and internationally. The company offers dried flower, pre-\nrolls, oils, vaporizers, edibles, and cannabis tinctures under the Spinach,\nLord Jones, and PEACE NATURALS brand names. Cronos Group Inc. was founded in\n2012 and is based in Stayner, Canada.\n\n[ www.thecronosgroup.com ](https://www.thecronosgroup.com)\n\n459\n\n### Full Time Employees\n\nDecember 31\n\n### Fiscal Year Ends\n\n[ Healthcare ](/sectors/healthcare/)\n\n### Sector\n\n[ Drug Manufacturers - Specialty & Generic ](/sectors/healthcare/drug-\nmanufacturers-specialty-generic/)\n\n### Industry\n\n[ More about Cronos Group Inc. ](/quote/CRON/profile/)\n\n[ View More ](/quote/CRON/news/ \"View More\")\n\nTrailing total returns as of 4/23/2025, which may include dividends or other\ndistributions. Benchmark is [ S&P/TSX Composite index (^GSPTSE)\n](/quote/%5EGSPTSE/ \"S&P/TSX Composite index \\(^GSPTSE\\)\") .\n\nCRON\n\n8.21%\n\nS&P/TSX Composite index (^GSPTSE)\n\n0.60%\n\nCRON\n\n27.53%\n\nS&P/TSX Composite index (^GSPTSE)\n\n11.18%\n\nCRON\n\n41.50%\n\nS&P/TSX Composite index (^GSPTSE)\n\n15.51%\n\nCRON\n\n70.12%\n\nS&P/TSX Composite index (^GSPTSE)\n\n71.72%\n\nSelect to analyze similar companies using key performance metrics; select up\nto 4 stocks.\n\n[ CRON Cronos Group Inc. ](/quote/CRON/)\n\n1.7900\n\n+1.13%\n\nMkt Cap 684.99M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ ACB Aurora Cannabis Inc. ](/quote/ACB/)\n\n4.4000\n\n+3.29%\n\nMkt Cap 243.718M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ CGC Canopy Growth Corporation ](/quote/CGC/)\n\n1.2400\n\n+5.08%\n\nMkt Cap 226.606M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ OGI Organigram Global Inc. ](/quote/OGI/)\n\n1.0800\n\n+1.89%\n\nMkt Cap 145.858M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ CURLF Curaleaf Holdings, Inc. ](/quote/CURLF/)\n\n0.9060\n\n-1.52% \n\nMkt Cap 686.277M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ TLRY Tilray Brands, Inc. ](/quote/TLRY/)\n\n0.4403\n\n-3.84% \n\nMkt Cap 438.925M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ TCNNF Trulieve Cannabis Corp. ](/quote/TCNNF/)\n\n3.8810\n\n-0.74% \n\nMkt Cap 740.603M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ GTBIF Green Thumb Industries Inc. ](/quote/GTBIF/)\n\n5.31\n\n-0.93% \n\nMkt Cap 1.252B\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ CRLBF Cresco Labs Inc. ](/quote/CRLBF/)\n\n0.6580\n\n+1.23%\n\nMkt Cap 229.225M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ VRNOF Verano Holdings Corp. ](/quote/VRNOF/)\n\n0.6400\n\n+3.23%\n\nMkt Cap 230.22M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ ACB.TO Aurora Cannabis Inc. ](/quote/ACB.TO/)\n\n6.15\n\n+4.24%\n\nMkt Cap CAD 337.537M\n\nIndustry Drug Manufacturers\u2014Specialty & Generic\n\n[ Annual ](/about/plans/select-\nplan/historicalStatistics/?.done=%2Fquote%2FCRON%2F&ncid=100001118)\n\nAs of 4/23/2025\n\n * Market Cap \n\n684.99M\n\n * Enterprise Value \n\n-171.80M \n\n * Trailing P/E \n\n16.27\n\n * Forward P/E \n\n\\--\n\n * PEG Ratio (5yr expected) \n\n\\--\n\n * Price/Sales (ttm) \n\n5.81\n\n * Price/Book (mrq) \n\n0.64\n\n * Enterprise Value/Revenue \n\n\\--\n\n * Enterprise Value/EBITDA \n\n\\--\n\n#### Profitability and Income Statement\n\n * Profit Margin \n\n34.93%\n\n * Return on Assets (ttm) \n\n-2.94% \n\n * Return on Equity (ttm) \n\n3.63%\n\n * Revenue (ttm) \n\n117.61M\n\n * Net Income Avi to Common (ttm) \n\n41.08M\n\n * Diluted EPS (ttm) \n\n0.1100\n\n#### Balance Sheet and Cash Flow\n\n * Total Cash (mrq) \n\n858.8M\n\n * Total Debt/Equity (mrq) \n\n0.18%\n\n * Levered Free Cash Flow (ttm) \n\n-26.29M \n\n[ View More ](/quote/CRON/key-statistics/ \"View More\")\n\n[ View More ](/quote/CRON/analysis/ \"View More\")\n\n[ View More ](/research/stock-forecast/CRON?symbols=CRON \"View More\")\n\nCGC Canopy Growth Corporation\n\n**1.2400**\n\n+5.08%\n\n[ ](/quote/CGC/ \"CGC\")\n\nACB Aurora Cannabis Inc.\n\n**4.4000**\n\n+3.29%\n\n[ ](/quote/ACB/ \"ACB\")\n\nTLRY Tilray Brands, Inc.\n\n**0.4403**\n\n-3.84% \n\n[ ](/quote/TLRY/ \"TLRY\")\n\nCURLF Curaleaf Holdings, Inc.\n\n**0.9060**\n\n-1.52% \n\n[ ](/quote/CURLF/ \"CURLF\")\n\nOGI Organigram Global Inc.\n\n**1.0800**\n\n+1.89%\n\n[ ](/quote/OGI/ \"OGI\")\n\nGTBIF Green Thumb Industries Inc.\n\n**5.31**\n\n-0.93% \n\n[ ](/quote/GTBIF/ \"GTBIF\")\n\nTCNNF Trulieve Cannabis Corp.\n\n**3.8810**\n\n-0.74% \n\n[ ](/quote/TCNNF/ \"TCNNF\")\n\nIIPR Innovative Industrial Properties, Inc.\n\n**51.78**\n\n-1.09% \n\n[ ](/quote/IIPR/ \"IIPR\")\n\nCRLBF Cresco Labs Inc.\n\n**0.6580**\n\n+1.23%\n\n[ ](/quote/CRLBF/ \"CRLBF\")\n\nSNDL SNDL Inc.\n\n**1.4200**\n\n+2.16%\n\n[ ](/quote/SNDL/ \"SNDL\")\n\nGRWG GrowGeneration Corp.\n\n**0.9275**\n\n-0.28% \n\n[ ](/quote/GRWG/ \"GRWG\")\n\nWEED.TO Canopy Growth Corporation\n\n**1.7200**\n\n+4.24%\n\n[ ](/quote/WEED.TO/ \"WEED.TO\")\n\nSMG The Scotts Miracle-Gro Company\n\n**53.57**\n\n+0.94%\n\n[ ](/quote/SMG/ \"SMG\")\n\nSTZ Constellation Brands, Inc.\n\n**187.28**\n\n+0.15%\n\n[ ](/quote/STZ/ \"STZ\")\n\nVFF Village Farms International, Inc.\n\n**0.6133**\n\n-4.13% \n\n[ ](/quote/VFF/ \"VFF\")\n\nCWBHF Charlotte's Web Holdings, Inc.\n\n**0.0880**\n\n+3.53%\n\n[ ](/quote/CWBHF/ \"CWBHF\")\n\n[ ](/)\n\nCopyright \u00a9 2025 Yahoo. All rights reserved.\n\n[ ](https://twitter.com/YahooFinance \"Follow on Twitter\") [\n](https://facebook.com/yahoofinance \"Follow on Facebook\") [\n](https://www.linkedin.com/company/yahoo-finance \"Follow on LinkedIn\")\n\nPOPULAR QUOTES\n\n[ Dow Jones ](https://finance.yahoo.com/quote/%5EDJI/) [ S&P 500\n](https://finance.yahoo.com/quote/SPY/) [ DAX Index\n](https://finance.yahoo.com/quote/%5EGDAXI/) [ Nvidia\n](https://finance.yahoo.com/quote/NVDA/) [ Tesla\n](https://finance.yahoo.com/quote/TSLA/) [ DJT\n](https://finance.yahoo.com/quote/DJT/) [ Tariffs\n](https://finance.yahoo.com/topic/tariffs/)\n\nEXPLORE MORE\n\n[ Mortgages ](https://finance.yahoo.com/personal-finance/mortgages/) [ Credit\nCards ](https://finance.yahoo.com/personal-finance/credit-cards/) [ Sectors\n](https://finance.yahoo.com/sectors/) [ Crypto Heatmap\n](https://finance.yahoo.com/crypto/heatmap/) [ Financial News\n](https://finance.yahoo.com/news/)\n\nABOUT\n\n[ Data Disclaimer ](https://help.yahoo.com/kb/finance-for-\nweb/SLN2310.html?locale=en_US) [ Help ](https://help.yahoo.com/kb/finance-for-\nweb) [ Feedback ](https://yahoo.uservoice.com/forums/952723-finance-b3) [\nSitemap ](https://finance.yahoo.com/sitemap/) [ Licensing\n](https://info.wrightsmedia.com/yahoo-finance-licensing) [ What's New\n](https://finance.yahoo.com/about/whatsnew/) [ About Our Ads\n](https://policies.oath.com/us/en/oath/privacy/adinfo/index.html) [ Premium\nPlans ](/about/plans/)\n\n[ Terms ](https://guce.yahoo.com/terms?locale=en-US) and [ Privacy Policy\n](https://guce.yahoo.com/privacy-policy?locale=en-US)\n\n[ Privacy Dashboard ](https://guce.yahoo.com/privacy-dashboard?locale=en-US)\n\n[ More Info ](/more-info)\n\n",
"url": "https://finance.yahoo.com/quote/CRON/"
},
"reason": "Yahoo Finance is a reputable source for financial data and news. The page provides stock information and related news for Cronos Group, offering reliable financial data and market analysis.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Yahoo Finance provides stock information and related news for Cronos Group.",
"url": "https://finance.yahoo.com/quote/CRON/"
},
{
"content": {
"metadata": {
"ext_id": "9cbd794d-370a-4dc6-832b-b850b7fe4892",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-company-cronos-group.html"
},
"page_content": "Skip Navigation\n\n[ ](/)\n\n[ Markets ](/markets/)\n\n[ Business ](/business/)\n\n[ Investing ](/investing/)\n\n[ Tech ](/technology/)\n\n[ Politics ](/politics/)\n\n[ Video ](/tv/)\n\n[ Watchlist ](/watchlist/)\n\n[ Investing Club\n](/investingclub/subscribe?__source=investingclub|globalnav|join&tpcc=investingclub|globalnav|join)\n\n[ PRO ](/application/pro?__source=pro|globalnav|join&tpcc=pro|globalnav|join)\n\n[ Livestream ](/live-tv/)\n\nKey Points\n\n * Altria Group will buy a 45 percent stake in leading cannabinoid company Cronos Group for about $1.8 billion. \n * Altria will discontinue MarkTen and Green Smoke e-cigarette products and its Verve oral nicotine. \n * The company is still weighing an investment in e-cigarette company Juul, and talks could conclude by year-end, a person familiar with the situation tells CNBC. \n * The steps are a sign of the new world in which Altria must compete. \n\nPeace Naturals products owned by Cronos Group\n\nSource: Peace Naturals\n\n[ Altria Group ](/quotes/MO/) said Friday it has agreed to buy a 45 percent\nstake in leading cannabinoid company [ Cronos Group ](/quotes/CRON-CA/) for\nabout $1.8 billion, a sign of the new world in which the tobacco company must\ncompete.\n\nAltria is also weighing an investment in e-cigarette company Juul, CNBC has\nreported. Those talks could be completed by year-end, a person familiar with\nthe situation tells CNBC.\n\nSales of cigarettes have slowed and its customers have either turned to other\nrecreational products \u2014 like cannabis and e-cigarettes \u2014 or are threatening to\ndo so. Those industries, though, are in need of expertise to navigate\nregulatory hurdles and capital to invest in their company.\n\n\"The proceeds from Altria's investment will enable us to more quickly expand\nour global infrastructure and distribution footprint, while also increasing\ninvestments in R&D and brands that resonate with our consumer,\" Cronos CEO\nMike Gorenstein said in a statement.\n\nIt also helps \"make sure we're getting in front of regulators,\" Gorenstein\ntold CNBC on Friday.\n\nTalks between Cronos and Altria have been ongoing for more than a month,\npeople familiar with the situation told CNBC. Altria is one of several parties\nwith which Cronos considered partnering, they added.\n\nAltria's expertise with vaping products appealed to Cronos, which sees\nopportunity customizing vaporizers for cannabis, Gorenstein said.\n\nAs part of the deal, Altria has a warrant that would allow it to increase its\nstake in Cronos to about 55 percent at a price of $19 per share. It allows\nCronos the flexibility to take investments from other companies such as, for\nexample, a big food company.\n\nCronos is headquartered in Toronto, where cannabis has been [ nationally legal\nsince October ](https://www.cnbc.com/2018/10/17/canadas-legal-pot-sales-\nthreaten-the-us-cannabis-market-ceo-says.html) . It has no U.S. operations,\nwhere the industry remains illegal at a federal level but legal in 33 states\nand the District of Columbia.\n\nAltria, meantime, sells the vast amount of its tobacco in the U.S. Its\nestablished U.S. presence should, therefore, serve to benefit Cronos, when or\nif cannabis is legalized federally. Altria does have an affiliate, National\nSmokeless Tobacco Company, that operates in Canada.\n\nThe deal is the latest in a flurry of conversations that have taken place\nacross the consumer industry, where the threat of cannabis growth looms large\nover established, growth-starved industries spanning tobacco, soda and beer.\nNo longer known just for its smoked product, cannabis has evolved to offer\nproducts for health, wellness, sleep and socializing.\n\nWith so much still uncertain, including who the industry winners will be,\ncompanies are still moving cautiously. For several, this includes stakes\nrather than initial full acquisitions. Corona parent [ Constellation Brands\n](/quotes/STZ/) recently increased its investment in Canopy Growth [ with a\n9.9 percent stake ](https://www.cnbc.com/2018/08/15/corona-maker-\nconstellation-ups-bet-on-cannabis-with-4-billion-investm.html) .\n\nThe \"most important aspect of growth is going to be innovation and R&D,\"\nGorenstein said.\n\nAs part of the agreement, Altria will be able to name four directors to Cronos\nboard, including one independent director. These additions will boost the size\nof Cronos' board to seven from five directors.\n\nAltria also announced plans to [ discontinue its MarkTen and Green Smoke\ne-cigarette products ](https://www.cnbc.com/2018/12/07/altria-closes-e-\ncigarette-brands-as-it-eyes-juul-awaits-iqos-decision.html) and its Verve oral\nnicotine, citing the financial performance of these products combined with\nheightened regulatory restrictions for its decision.\n\nAltria said it plans to refocus its resources on more compelling reduced-risk\ntobacco product opportunities.\n\nIn connection with these steps, Altria expects to record a one-time pretax\ncharge of about $200 million in the fourth quarter. Most of the charge will be\na noncash asset impairment charge and will be excluded from the company's\nadjusted earnings.\n\nIn midday trading Friday, Cronos shares were up 22 percent on the news, while\nAltria shares gained 1.1 percent.\n\n_\u2014CNBC's Angelica Lavito contributed to this article_\n\n**WATCH:** [ Six experts on the cannabis craze\n](https://www.cnbc.com/video/2018/09/19/cannabis-marjiuana-pot-stocks-\ninvesting.html)\n\nwatch now\n\nVIDEO 4:49 04:49\n\nSix experts on whether the cannabis craze is a boom or bust\n\n[ Trading Nation ](https://www.cnbc.com/trading-nation/)\n\n[ ](//www.cnbc.com)\n\n * [ ](https://www.facebook.com/cnbc/)\n * [ ](https://www.twitter.com/cnbc/)\n * [ ](https://www.linkedin.com/company/cnbc/)\n * [ ](https://www.instagram.com/cnbc/)\n * [ ](https://www.youtube.com/user/cnbc/)\n * [ ](https://apple.news/T3OtoXcxtRkuHRkM7SpFP_Q)\n * [ ](/rss-feeds/)\n\n * [ Subscribe to CNBC PRO ](/application/pro/?__source=pro|globalfooter)\n * [ Subscribe to Investing Club ](/investingclub/subscribe?__source=investingclub|globalfooter)\n * [ Licensing & Reprints ](/cnbc-reprints/)\n * [ CNBC Councils ](https://www.cnbccouncils.com/)\n * [ Select Personal Finance ](/select/)\n * [ CNBC on Peacock ](https://www.peacocktv.com/?cid=20200101evergreensymdisp009&utm_source=cnbc&utm_medium=symphony_editorial_brandawareness_footerlink&utm_campaign=20200101evergreen&utm_term=na&utm_content=na_na/)\n * [ Join the CNBC Panel ](https://cnbcrsh.qualtrics.com/jfe/form/SV_dgRx5X1nYC0YjNI?Origin=cnbc)\n * [ Supply Chain Values ](https://corporate.comcast.com/values/integrity)\n * [ Select Shopping ](https://www.nbcnews.com/select)\n * [ Closed Captioning ](/closed-captioning/)\n * [ Digital Products ](/digital-products/)\n * [ News Releases ](/cnbc-news-releases/)\n * [ Internships ](/cnbc-internship-program/)\n * [ Corrections ](/corrections/)\n * [ About CNBC ](/about/)\n * [ Ad Choices ](https://www.nbcuniversal.com/privacy/cookies#accordionheader2)\n * [ Site Map ](/site-map/)\n * [ Podcasts ](/podcast/)\n * [ Careers ](/cnbc-careers-and-employment/)\n * [ Help ](https://help.cnbc.com/)\n * [ Contact ](https://help.cnbc.com/contact/)\n\n * #### News Tips \n\nGot a confidential news tip? We want to hear from you.\n\n[ Get In Touch ](/news-tips/)\n\n * #### CNBC Newsletters \n\nSign up for free newsletters and get more CNBC delivered to your inbox\n\n[ Sign Up Now ](/sign-up-for-cnbc-newsletters/)\n\nGet this delivered to your inbox, and more info about our products and\nservices.\n\n * #### Advertise With Us \n\n[ Please Contact Us\n](https://together.nbcuni.com/advertise/?utm_source=cnbc&utm_medium=referral&utm_campaign=property_ad_pages)\n\n * [ Privacy Policy ](https://www.nbcuniversal.com/privacy?intake=CNBC)\n * * [ CA Notice ](https://www.nbcuniversal.com/privacy/california-consumer-privacy-act?intake=CNBC)\n * [ Terms of Service ](/terms)\n\n\u00a9 2025 CNBC LLC. All Rights Reserved. [ A Division of NBCUniversal\n](https://www.nbcuniversal.com)\n\nData is a real-time snapshot *Data is delayed at least 15 minutes. Global\nBusiness and Financial News, Stock Quotes, and Market Data and Analysis.\n\n[ Market Data Terms of Use and Disclaimers ](/market-data-terms-of-service/)\n\nData also provided by [ ](/market-data-terms-of-service/)\n\n",
"url": "https://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-company-cronos-group.html"
},
"reason": "CNBC is a reputable news organization. This article reports on Altria's investment in Cronos Group, providing reliable financial news.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Altria to invest $1.8 billion in cannabis company Cronos Group.",
"url": "https://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-company-cronos-group.html"
},
{
"content": {
"metadata": {
"ext_id": "68501c2e-5f38-4451-a7a4-7081a2031a78",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.fool.com/earnings/call-transcripts/2025/02/27/cronos-group-cron-q4-2024-earnings-call-transcript/"
},
"page_content": "[ \u25b2 S&P 500 **+ \\---% ** | \u25b2 Stock Advisor ** \\+ \\---% ** Join The Motley Fool ](https://www.fool.com/mms/mark/e-foolcom-sa-top-nav-returns)\n\nAccessibility [ Log In ](/auth/authenticate/) [ Help\n](https://support.fool.com/)\n\nAccessibility Menu\n\nFree Article\n\nYou're reading a free article with opinions that may differ from The Motley\nFool's Premium Investing Services. Become a Motley Fool member today to **get\ninstant access to our top analyst recommendations, in-depth research,\ninvesting resources,** and more. [ Learn More\n](https://www.fool.com/mms/mark/op-free-tbox-art)\n\nBy [ Motley Fool Transcribing ](/author/20032/) \u2013 Feb 27, 2025 at 11:45AM\n\n## [ NASDAQ: CRON ](/quote/nasdaq/cron/)\n\n### Cronos Group\n\nMarket Cap\n\n$685M\n\nToday's Change\n\n(0.85%) $0.01\n\nCurrent Price\n\n$1.78\n\nPrice as of April 23, 2025, 3:57 p.m. ET\n\nCRON earnings call for the period ending December 31, 2024.\n\nImage source: The Motley Fool.\n\n**Cronos Group** ( [ CRON ](/quote/nasdaq/cron/) 0.85% ) \nQ4 2024 Earnings Call \nFeb 27, 2025 , _8:30 a.m. ET_\n\n## Contents:\n\n * Prepared Remarks \n * Questions and Answers \n * Call Participants \n\n## Prepared Remarks:\n\n \n\n**Operator**\n\nGood morning. My name is Antoine, and I will be your conference operator\ntoday. I would like to welcome everyone to Cronos Group's fourth-quarter and\nfull-year 2024 earnings conference call. Today's call is being recorded.\n\nAt this time, I would like to turn the call over to Anna Shlimak, chief\nstrategy officer. Please go ahead.\n\n**Anna Shlimak** \\-- _Chief Strategy Officer_\n\nThank you, Antoine, and thank you for joining us today to review Cronos' 2024\nfull-year and fourth-quarter financial and business performance. Today, I'm\njoined by chairman, president and CEO, Mike Gorenstein, and our CFO, James\nHolm. Cronos issued a news release announcing our financial results this\nmorning, which is filed on our EDGAR and SEDAR profiles. This information and\nthe prepared remarks will also be posted on our website under investor\nrelations.\n\nBefore I turn the call over to Mike, let me remind you that we may make\nforward-looking statements and refer to non-GAAP financial measures during\nthis call. These forward-looking statements are based on management's current\nexpectations and assumptions that are subject to risks and uncertainties that\ncould cause actual results to differ materially from those projected in the\nforward-looking statements. Factors that could cause actual results to differ\nmaterially from expectations are detailed in our earnings materials and our\nSEC filings that are available on our website, by which any forward-looking\nstatements made during this call are qualified in their entirety. Information\nabout non-GAAP financial measures, including reconciliations to US GAAP, can\nalso be found in the earnings materials that are available on our website.\n\nLastly, we will be making statements regarding market share information\nthroughout this conference call, unless otherwise stated, all market share\ndata is provided by Hifyre. We will now make prepared remarks, and then we'll\nmove to a question-and-answer session. With that, I'll pass it over to Cronos'\nchairman, president, and CEO, Mike Gorenstein.\n\n**Michael Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\nThank you, Anna, and good morning, everyone. Three years ago, when I returned\nas Cronos' CEO, we set ambitious goals, to deliver robust top line growth,\nimprove margins and rightsize our operating expenses. Today, I'm proud to say\nthat these goals are coming to fruition and can be seen throughout the\nbusiness. With yet another quarter of solid results and our unwavering\ncommitment to disciplined operating expenses, we're showcasing our ability to\ndrive growth while enhancing efficiency across our business.\n\nYear over year, we grew annual net revenue by 35%. We nearly doubled our\nadjusted gross margins and continue to exercise discipline in the management\nof our operating expenses. Our 2024 results are evidence that our business is\nperforming, and we continue to lead the global cannabis industry in product\ninnovation and exceptional quality. Bolstered by our robust balance sheet, we\nare in an exceptional position to seize future growth opportunities and\nfurther strengthen our leadership in the markets we serve as we look forward\nto 2025. In 2024, we invested in GrowCo to expand its cultivation and\nproduction capabilities in order to ensure a consistent supply of high-quality\ncannabis at greater scale.\n\nThis strategic move was aimed to improve operational efficiency, reduce costs\nand optimize margins by leveraging advanced growing techniques. We are eager\nfor the new supply from that investment to come online in order to feed the\ngrowing demand in the markets we operate in and new markets that have become\navailable to us. I feel confident that we have positioned ourselves to better\nmeet growing consumer demand, maintain product quality and support our\nexpanding portfolio of brands and products in a prudent and thoughtful way.\nOur expansion of GrowCo is progressing well.\n\nIn Q4, Health Canada approved amendments to the site's perimeter, and we\nexpect to finish construction of the expanded cultivation and processing\nfacilities in Q2, with first harvest and sales for the new area expected to\nbegin in the second half of 2025. Up until the first sales from the expanded\nfacility, we have the option to purchase up to 80% of GrowCo's total\nproduction. Once expansion sales begin, Cronos will have the option to\npurchase up to 70% of the total production from the facility. The GrowCo\nexpansion positions us to capitalize on Canadian domestic demand and will fuel\ninternational growth opportunities in 2025.\n\nThe past year, I've been incredibly proud of the strides we have made in R&D,\nincluding product development and innovation. Cronos has achieved significant\nadvancement in cannabis genetics with improvements not only in new strains\nthat meet consumer preferences, but also reaching new levels of cannabinoid\nyield. This is a result of years spent dedicated to our breeding and tissue\nculture. Consumers are consistently shopping for a flower value proposition\nbased on a price potency equation, and our genetics are helping us meet this\ndemand, which has cemented us as a top-performing flower brand in Canada and\ninternationally.\n\nNow turning to brand updates. I'm happy to share that Spinach has ended the\nyear as the No. 1 cannabis brand in Canada by market share, solidifying its\nleadership position. This achievement is fueled by its No.\n\n1 rankings in both edibles and flower, a No. 4 position in vapes and No. 7 in\npre-rolls. Spinach's consistent market share growth is a testament to our\nunwavering commitment to quality, innovation and delivering differentiated\nproducts that resonate with consumers in the highly competitive Canadian\nadult-use market.\n\nIn the gummy category, our industry-leading SOURZ products captured 23% market\nshare in Q4 with fiv of the top 10 best-selling edibles in Canada, all part of\nthe SOURZ lineup. Our Fully Blasted SOURZ innovations featuring 10 milligrams\nof THC per piece have been partially -- particularly well received by\nconsumers. In Q4, we launched two new Fully Blasted products, Peach Orange and\nStrawberry Mango, as well as the new CBD Berry Variety Pack, which debuted in\nBC at the end of December. Each variety pack contains 30 gummies with 30\nmilligrams of CBD in each gummy and three flavors.\n\nBlue Raspberry Watermelon, Strawberry Mango and Blueberry Acai. Additionally,\nour Lord Jones brand has made significant strides in the chocolate category,\nfinishing the year as the third best-selling chocolate brand in Canada. In\nJanuary, we also launched a new Lord Jones Chocolate Fusions flavor, Fudge\nBrownie, which features an even ratio of CBN, CBD and THC. Spinach continues\nto show its strength in the flower category, holding the No.\n\n1 spot for Q4 and full year with 6% market share. This success is driven by\npopular genetics like GMO Cookies, Wedding Cake, Space Cake and Sour Chem\navailable on a variety of sizes. The ongoing achievements of our green program\nand the operational excellence of GrowCo have further cemented our leadership\nin this category, ensuring consistent delivery of quality products to meet\nconsumer demand. While Spinach showed strong growth in flower in 2024, and we\nstill see strong demand, we do not expect that growth to continue until the\nback half of 2025 when additional supply from the GrowCo expansion becomes\navailable.\n\nIn order to prepare for the next phase of growth, we will continue to\nstrategically allocate the existing supply across Spinach in Canada and PEACE\nNATURALS internationally. In Q4, we released Blue Monster pre-rolls under a\nnew regional Quebec brand, Sonique. Our regional brand Sonique is tailored to\nmeet the unique preferences and needs of the Quebec market, offering products\nthat resonate with the province's distinct cannabis culture. The brand's\nstrategic approach ensures to capture the essence of Quebec's market trends,\ncombining local insights with exceptional product development to build trust\nand loyalty among cannabis enthusiasts in the region.\n\nOur strategy has always been to develop a portfolio of best-selling and\ndisruptive branded products that we can launch in new markets as cannabis\nregulations open globally. The Spinach brand becoming the No. 1 best-selling\nbrand in Canada is a validation of our strong capabilities, and we're just\ngetting started in expanding our winning portfolio of borderless products and\nbringing them to markets globally. Now moving to Israel.\n\nOur team there has shown remarkable performance throughout Q4 with record\nvolumes sold and the highest sales per quarter in 2024. Cronos Israel has\nbuilt significant momentum throughout the year despite a very competitive\nmarket with evolving dynamics, including increased competition, tariff\nthreats, declining patient growth, entrance of HMOs and the ongoing Middle\nEast conflict. Despite all of this, the PEACE NATURALS brand and product\nportfolio continues to grow. PEACE NATURALS portfolio was overhauled with a\nrevised pricing strategy with focused cultivars that meet the needs of our\npatient base.\n\nHere on cultivars like Wedding Cake and GMO, along with changes implemented in\nthe portfolio drove growth throughout 2024. PEACE NATURALS ended the year as\nthe No. 1 flower brand in Israel with 24% market share and the brand's oil\noffering, and it is the fourth most popular brand with 9% market share\naccording to pharmacy data collected by Cronos. I'm incredibly proud of our\nturnaround in this market and look forward to launching more quality products\nin 2025.\n\nInternationally, we've made significant progress in the markets we've entered\nand are excited about the opportunities ahead. In Germany, our PEACE NATURALS\nbrand is gaining strong traction and continues to grow. Market penetration is\na big focus for us in 2025. We're confident in the momentum we're building,\nespecially as we're offering the same high-quality products that propelled us\nto the No.\n\n1 position in flower in Canada. With this foundation, we believe we have a\nclear ability to win and are well positioned to capture even greater market\nshare in Germany and elsewhere. Similarly, in the UK, while still early, we're\nalready seeing promising growth with PEACE NATURALS and are enthusiastic about\nthe significant potential for expansion in this emerging market. These\ndevelopments underscore our commitment to becoming a global leader in the\ncannabis industry.\n\nWe've ended the year strong, and I'm proud of the accomplishments we've made\nthroughout 2024. Cronos maintains the strongest balance sheet in the industry\nwith cash and cash equivalents of $859 million, reinforcing our ability to\ninvest in growth, innovation and global expansion. Each quarter showed\nsignificant year-over-year revenue increases, highlighting our continued\nmarket expansion and sales momentum. Now, I'll turn it over to James to walk\nthrough the fourth-quarter financials.\n\n**James Holm** \\-- _Chief Financial Officer_\n\nThanks, Mike, and good morning, everyone. In 2024, we increased net revenue\n35% year over year to $117.6 million, with strong performance in Canada and\nIsrael and international markets picking up well. Operating expenses declined\nby $5 million versus the prior year. Adjusted EBITDA improved by 45% year over\nyear and operating cash flow improved by $61.7 million to positive $18.8\nmillion.\n\nI will now review our fourth-quarter 2024 results, which now include the\nconsolidation of GrowCo's financials. The company reported consolidated net\nrevenue of $30.3 million, a 27% increase from the prior year period. Net\nrevenue for Cronos, excluding GrowCo, was $28.2 million, representing an 18%\ngrowth year over year on a stand-alone basis, while GrowCo net revenue was\n$2.1 million for Q4 2024. The net revenue increase was primarily driven by\nhigher cannabis flower and extract sales in Canada and higher flower sales in\nIsrael and other countries.\n\nGross profit in the fourth quarter was $10.8 million, equating to a 36% gross\nmargin. Gross profit was positively impacted by an adjustment of $1.8 million\nin connection with the finalization of the purchase accounting for the Cronos\nGrowCo transaction, which resulted in a reduction of the fair value of\ninventory acquired and the corresponding inventory step-up previously recorded\nin the cost of sales in Q3, resulting in an adjusted gross profit of $9\nmillion, equating to a 30% adjusted gross margin. We will continue providing\nthis adjustment until the inventory that was stepped up to fair market value\nthrough the purchase accounting adjustment has been sold through as we believe\nit is useful in reviewing and evaluating our ongoing performance. For full-\nyear 2024, year-over-year adjusted gross profit improved by $18.6 million and\nadjusted gross margin improved by 12 percentage points to 26%, nearly doubling\nour gross margin from the prior year.\n\nThe increase is primarily driven by higher sales of cannabis flower and\nextract sales in Canada, higher cannabis flower sales in Israel and production\ncost improvements. Adjusted EBITDA in the fourth quarter was negative $7.2\nmillion, representing a $7.6 million improvement from the prior year period.\nThe improvement was driven by increased revenue and higher adjusted gross\nprofit. The disciplined approach to our operating expenses employed to date\nenabled us to achieve savings of $8.7 million for 2024 versus the prior year\nfor Cronos on a stand-alone basis.\n\nWith this, we achieved the high end of the range for our previously announced\nguidance of a reduction of $5 million to $10 million for stand-alone Cronos.\nThe operating expense savings were driven by cost reductions in general and\nadministrative, research and development and sales and marketing. Going into\n2025, even with the addition of GrowCo's opex, we expect our opex to remain\nflat. In addition, our reported capex includes previously announced facility\nexpansion at GrowCo, something to be mindful of looking into 2025.\n\nTurning to the balance sheet and cash flow statement. The company ended the\nquarter with $859 million in cash and cash equivalents. Cash and cash\nequivalents were down $3 million from Q3 2024, driven primarily by capex spend\nin Q4 '24 of $3.7 million and FX fluctuations, partially offset by cash from\noperations of $7.7 million in 2024. On a full-year basis, capital expenditure\nincreased $9.7 million year over year, reflecting investments at our GrowCo\nfacility and improved automation capabilities in our PEACE NATURALS campus at\nStayner.\n\nDuring 2024, we generated $18.8 million of cash from operating activities\ncompared to 2023, where cash used was $42.8 million, representing an increase\nin cash flow from operating activities of $61.7 million. This change was\nprimarily driven by a $32.8 million tax payment made in 2023 connected to the\npreviously disclosed relinquishment by Altria of its warrant to purchase\nadditional shares of the company in 2022, a $38.8 million increase in net\nincome after adjusting for noncash items during 2024 compared to 2023 and\nhigher interest received. As a result, free cash flow for Q4 2024 was positive\n$4 million compared to a positive $15 million in the prior year period. Free\ncash flow for the full-year 2024 was positive $5.7 million compared to a\nnegative $46.3 million for the full-year 2023, representing a $51.9 million\nimprovement.\n\nOur cash balance is stable, and you can see the underlying fundamentals of our\noperations are showing significant improvement. Looking back on the progress\nwe've made, I share in Mike's confidence, in the trajectory of the business\nand our preparedness for entry into new markets as they become available. With\nthat, I would like to hand it back to Mike for a brief comment before going\ninto Q&A.\n\n**Michael Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\nThroughout this past year, we have demonstrated strong performance across all\nquarters, driven by robust revenue growth, improved margins and disciplined\ncost management. We solidified our market leadership in Canada and Israel,\nachieved significant milestones in international markets and continue to\ninnovate with new product launches. With a strong balance sheet and a clear\nstrategic focus, Cronos is well positioned to capitalize on future growth\nopportunities and enhance our position in the global cannabis industry. As we\nlook ahead, we remain focused on innovation, operational excellence and\nstrategic expansion.\n\nOur core business is performing exceptionally well, and we are well positioned\nto capitalize on the growing global cannabis market as we look forward to\n2025. With that, I'll open the line for questions.\n\n## Questions & Answers:\n\n \n\n**Operator**\n\n[Operator instructions] I am showing no questions at this time. [Operator\nsignoff]\n\n**Duration: 0 minutes**\n\n## Call participants:\n\n**Anna Shlimak** \\-- _Chief Strategy Officer_\n\n**Michael Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\n**James Holm** \\-- _Chief Financial Officer_\n\n**Mike Gorenstein** \\-- _Chairman, President, and Chief Executive Officer_\n\n[ More CRON analysis ](https://www.fool.com/quote/cron)\n\n[ All earnings call transcripts ](https://www.fool.com/earnings-call-\ntranscripts/)\n\n_This article is a transcript of this conference call produced for The Motley\nFool. While we strive for our Foolish Best, there may be errors, omissions, or\ninaccuracies in this transcript. As with all our articles, The Motley Fool\ndoes not assume any responsibility for your use of this content, and we\nstrongly encourage you to do your own research, including listening to the\ncall yourself and reading the company's SEC filings. Please see our_ [ _Terms\nand Conditions_ ](https://www.fool.com/legal/terms-and-conditions/fool-rules)\n_for additional details, including our Obligatory Capitalized Disclaimers of\nLiability._\n\n_The Motley Fool recommends Cronos Group. The Motley Fool has a[ disclosure\npolicy ](https://www.fool.com/legal/fool-disclosure-policy/) . _\n\nStocks Mentioned\n\n[ Cronos Group CRON $1.78 (0.85%) $0.01 ](/quote/nasdaq/cron/)\n\n*Average returns of all recommendations since inception. Cost basis and return based on previous market day close. \n\nRelated Articles\n\n[ Cronos Group (CRON) Q3 2024 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/11/12/cronos-group-cron-q3-2024-earnings-call-transcript/) [\nCronos Group (CRON) Q2 2024 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/08/08/cronos-group-cron-q2-2024-earnings-call-transcript/) [\nCronos Group (CRON) Q1 2024 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/05/09/cronos-group-cron-q1-2024-earnings-call-transcript/) [\nCronos Group (CRON) Q4 2023 Earnings Call Transcript ](/earnings/call-\ntranscripts/2024/02/29/cronos-group-cron-q4-2023-earnings-call-transcript/) [\nCronos Group (CRON) Q3 2023 Earnings Call Transcript ](/earnings/call-\ntranscripts/2023/11/08/cronos-group-cron-q3-2023-earnings-call-transcript/)\n\n## Premium Investing Services\n\nInvest better with The Motley Fool. Get stock recommendations, portfolio\nguidance, and more from The Motley Fool's premium services.\n\n[ View Premium Services ](/services/?ftm_cam=footer-services-sitewide-\nprospects)\n\n[ ](/)\n\nMaking the world smarter, happier, and richer.\n\n * [ Facebook ](https://www.facebook.com/themotleyfool?fref=ts)\n * [ Twitter ](https://twitter.com/TheMotleyFool)\n * [ Linked In ](https://www.linkedin.com/company/the-motley-fool/)\n * [ Pinterest ](https://www.pinterest.com/themotleyfool/)\n * [ YouTube ](https://www.youtube.com/user/TheMotleyFool)\n * [ Instagram ](https://www.instagram.com/themotleyfoolofficial/)\n * [ Tiktok ](https://www.tiktok.com/@themotleyfoolofficial)\n\n\u00a9 1995 - 2025 The Motley Fool. All rights reserved.\n\nMarket data powered by [ Xignite ](https://xignite.com/) and [ Polygon.io\n](https://polygon.io/) .\n\nAbout The Motley Fool\n\n * [ About Us ](/about/)\n * [ Careers ](https://careers.fool.com/)\n * [ Research ](/research/)\n * [ Newsroom ](/contact/newsroom/)\n * [ Contact ](/legal/contact-us/)\n * [ Advertise ](/cdn-cgi/l/email-protection#e485808d8a95918d968d8197a4828b8b88ca878b89)\n\nOur Services\n\n * [ All Services ](/services/)\n * [ Stock Advisor ](/services/stock-advisor/)\n * [ Epic ](/services/epic/)\n * [ Epic Plus ](/services/epic-plus/)\n * [ Fool Portfolios ](/services/fool-portfolios/)\n * [ Fool One ](/services/one/)\n * [ Motley Fool Money ](/money/)\n\nAround the Globe\n\n * [ Fool UK ](https://www.fool.co.uk/)\n * [ Fool Australia ](https://www.fool.com.au/)\n * [ Fool Canada ](https://www.fool.ca)\n\nFree Tools\n\n * [ CAPS Stock Ratings ](https://caps.fool.com/Index.aspx)\n * [ Discussion Boards ](https://discussion.fool.com/)\n * [ Calculators ](/calculators/index/)\n * [ Financial Dictionary ](/terms/)\n\nAffiliates & Friends\n\n * [ Motley Fool Asset Management ](/affiliates/mfam/)\n * [ Motley Fool Wealth Management ](/affiliates/mfwm/)\n * [ Motley Fool Ventures ](/affiliates/ventures/)\n * [ Motley Fool Foundation ](/affiliates/foundation/)\n * [ Become an Affiliate Partner ](/affiliates/)\n\n * [ Terms of Use ](/legal/terms-and-conditions/fool-rules/ \"Terms of Use\")\n * [ Privacy Policy ](/legal/privacy-statement/ \"Privacy Policy\")\n * [ Disclosure Policy ](/legal/fool-disclosure-policy/ \"Disclosure Policy\")\n * [ Accessibility Policy ](/legal/accessibility-policy/ \"Accessibility Policy\")\n * [ Copyright, Trademark and Patent Information ](/legal/stuff-we-own/ \"Copyright, Trademark and Patent Information\")\n * [ Terms and Conditions ](/legal/terms-and-conditions/ \"Terms and Conditions\")\n * [ Do Not Sell My Personal Information ](/data-protection/ccpa-update/ \"Do Not Sell My Personal Information\")\n\nCurrent\n\n",
"url": "https://www.fool.com/earnings/call-transcripts/2025/02/27/cronos-group-cron-q4-2024-earnings-call-transcript/"
},
"reason": "The Motley Fool provides financial news and analysis. This is a transcript of Cronos Group's earnings call, providing direct insights from the company's management. While the source is reliable, the content reflects the company's perspective.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos Group Q4 2024 earnings call transcript.",
"url": "https://www.fool.com/earnings/call-transcripts/2025/02/27/cronos-group-cron-q4-2024-earnings-call-transcript/"
},
{
"content": {
"metadata": {
"ext_id": "b6aa9763-54f6-447e-a9fb-200589a1488d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.investing.com/news/transcripts/earnings-call-transcript-cronos-group-q4-2024-sees-revenue-growth-stock-up-premarket-93CH-3896609"
},
"page_content": "Enable JavaScript and cookies to continue\n\n",
"url": "https://www.investing.com/news/transcripts/earnings-call-transcript-cronos-group-q4-2024-sees-revenue-growth-stock-up-premarket-93CH-3896609"
},
"reason": "Investing.com provides financial news and analysis, including earnings call transcripts. This transcript offers insights into Cronos Group's financial performance and management's outlook. While the source is generally reliable, the content reflects the company's perspective.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Earnings call transcript: Cronos Group Q4 2024 sees revenue growth.",
"url": "https://www.investing.com/news/transcripts/earnings-call-transcript-cronos-group-q4-2024-sees-revenue-growth-stock-up-premarket-93CH-3896609"
},
{
"content": {
"metadata": {
"ext_id": "c2815817-3dba-4bbb-b8bd-c49af40ea8bb",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://greenstocknews.com/news/nasdaq/cron/cronos-unveils-new-spinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-cannabinoids"
},
"page_content": " * [ Newswire ](/green-stock-newswire \"Green Stock Newswire\")\n * [ Newsletter ](/newsletter \"Free Daily Green Stock Newsletter\")\n * [ Market Data ](/market-data \"Market Data\")\n * [ Heat Map ](/heat-map)\n * [ Search ](/search)\n * [ Stock Screener ](/stock-screener \"Stock Screener\")\n\n * [ LOGIN ](/login)\n * [ REGISTER ](/register)\n\n * [ Index ](/)\n * [ Newsroom ](/newsroom)\n * [ Featured Stocks ](/best-green-stocks)\n * [ Green Stock Lists ](/green-stock-lists)\n * [ Video News Clips ](/green-stock-news-clips)\n * [ Sust. Transport News ]()\n * [ All Sust. Transport ](/sustainable-transport)\n * [ Electric Vehicles ](/sustainable-transport/electric-vehicles)\n * [ EV Technology ](/sustainable-transport/ev-technology)\n * [ EV Charging ](/sustainable-transport/ev-charging)\n * [ Space Race ](/sustainable-transport/space)\n * [ eVTOL ](/sustainable-transport/evtol)\n * [ Alternative Transport ](/sustainable-transport/alternative-transport)\n * [ Autonomous Driving ](/sustainable-transport/autonomous-driving)\n * [ Last Mile Delivery ](/sustainable-transport/last-mile)\n * [ Clean Energy News ]()\n * [ All Clean Energy ](/clean-energy)\n * [ Energy Storage ](/clean-energy/energy-storage)\n * [ Solar Power ](/clean-energy/solar-power)\n * [ Fuel Cells ](/clean-energy/fuel-cells)\n * [ Green Hydrogen ](/clean-energy/green-hydrogen)\n * [ Carbon Reduction ](/clean-energy/carbon-reduction)\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Nuclear Energy ](/clean-energy/nuclear-energy)\n * [ Critical Elements ](/clean-energy/critical-elements)\n * [ Alternative Energy ](/clean-energy/alternative-energy)\n * [ Cleantech News ]()\n * [ All Cleantech ](/cleantech)\n * [ Environmental Solutions ](/cleantech/environmental-solutions)\n * [ Artificial Intelligence ](/cleantech/artificial-intelligence)\n * [ 3D Printing ](/cleantech/3d-printing)\n * [ Plant-Based ](/cleantech/plant-based)\n * [ Smart Grid ](/cleantech/smart-grid)\n * [ Blockchain ](/cleantech/blockchain)\n * [ Agriculture ](/cleantech/agriculture)\n * [ Cannabis News ]()\n * [ All Cannabis ](/cannabis)\n * [ Consumer Brands ](/cannabis/consumer-brands)\n * [ Cultivation ](/cannabis/cultivation)\n * [ Medicinal ](/cannabis/medicinal)\n * [ CBD ](/cannabis/cbd)\n * [ AgTech ](/cannabis/agtech)\n * [ Green Stock Newswire ](/green-stock-newswire)\n * [ Heat Map ](/heat-map)\n * [ Market Data ](/market-data)\n * [ Watch List ](/register)\n * [ Newsletter ](/newsletter)\n\n# [ Clean Energy ](https://greenstocknews.com/clean-energy)\n\n * [ Energy Storage ](/clean-energy/energy-storage \"Energy Storage\")\n * [ Solar Power ](/clean-energy/solar-power \"Solar Power\")\n * [ Fuel Cells ](/clean-energy/fuel-cells \"Fuel Cells\")\n * [ Carbon Reduction ](/clean-energy/carbon-reduction \"Carbon Capture and Carbon Credits\")\n * [ Green Hydrogen ](/clean-energy/green-hydrogen \"Green Hydrogen\")\n * [ Battery Metals ](/clean-energy/battery-metals \"Battery Metals\")\n * [ Nuclear Energy ](/clean-energy/nuclear-energy \"Nuclear Energy\")\n\n[ ](https://www.graphiteoneinc.com/) Leveraging its vertically-integrated\napproach from mine to material manufacturing, [ Graphite One\n](https://www.graphiteoneinc.com/) intends to produce high-grade anode\nmaterial for the lithium-ion electric vehicle battery market and energy\nstorage systems, with significant additional production for a range of value-\nadded graphite applications. Envisioned as a vertically-integrated\nenterprise...\n\n[ CLICK TO LEARN MORE ](https://www.graphiteoneinc.com/)\n\n* [ CleanTech ](/cleantech)\n\n# Featured News\n\n[ ](/news/otcmkts/rooof/northstar-awarded-second-canadian-patent-for-asphalt-\nshingle-reprocessing-technology)\n\n### [ Northstar Clean Technologies Awarded Second Canadian Patent for...\n](/news/otcmkts/rooof/northstar-awarded-second-canadian-patent-for-asphalt-\nshingle-reprocessing-technology)\n\n * [ Enviro Solutions ](/cleantech/environmental-solutions)\n\n[ OTCMKTS: ROOOF ](/market-data/stock-quote/northstar-clean-technologies)\n\n# [ Clean Tech ](https://greenstocknews.com/cleantech)\n\n * [ Environmental Solutions ](/cleantech/environmental-solutions \"Environmental Services\")\n * [ Artificial Intelligence ](/cleantech/artificial-intelligence \"Artificial Intelligence\")\n * [ Quantum Computing ](/cleantech/quantum-computing \"Quantum Computing\")\n * [ 3D Printing ](/cleantech/3d-printing \"3D Printing\")\n * [ Smart Grid ](/cleantech/smart-grid \"Smart Grid\")\n * [ Plant-Based ](/cleantech/plant-based \"Plant-Based Foods\")\n * [ Blockchain ](/cleantech/blockchain \"Blockchain\")\n\n[ ](https://light.ai/) [ Light AI ](https://light.ai/) is developing an AI-\npowered, smartphone-based platform, using smartphone images to identify\ndisease in seconds. Its patented, app-based solution requires no swabs, lab\ntests, or proprietary hardware, leveraging the 4.5 billion smartphones\nworldwide. In pre-FDA validation studies, Light AI achieved 97% accuracy and\n100% Negative Predictive Value...\n\n[ CLICK TO LEARN MORE ](https://light.ai/)\n\n* [ Transport ](/sustainable-transport)\n\n# Featured News\n\n[ ](/news/otcmkts/hlrtf/global-tier-1-automotive-supplier-engages-hillcrest-\nin-zvs-technology-evaluation)\n\n### [ Global Tier 1 Automotive Supplier Engages Hillcrest Energy...\n](/news/otcmkts/hlrtf/global-tier-1-automotive-supplier-engages-hillcrest-in-\nzvs-technology-evaluation)\n\n * [ EV Technology ](/sustainable-transport/ev-technology)\n\n[ OTCMKTS: HLRTF ](/market-data/stock-quote/hillcrest-energy-technologies)\n\n# [ Sustainable Transport ](https://greenstocknews.com/sustainable-\ntransport)\n\n * [ Electric Vehicles ](/sustainable-transport/electric-vehicles \"Electric Vehicles\")\n * [ EV Technology ](/sustainable-transport/ev-technology \"EV Technology\")\n * [ EV Charging ](/sustainable-transport/ev-charging \"EV Charging\")\n * [ Space Race ](/sustainable-transport/space \"Space Race\")\n * [ eVTOL ](/sustainable-transport/evtol \"eVTOL\")\n * [ Autonomous Driving ](/sustainable-transport/autonomous-driving \"Autonomous Driving\")\n * [ Last Mile Delivery ](/sustainable-transport/last-mile \"Last Mile Delivery\")\n\n[ ](https://greenpowermotor.com/) [ GreenPower Motor\n](https://greenpowermotor.com/) designs, builds and distributes a full suite\nof high-floor and low-floor all-electric medium and heavy-duty vehicles,\nincluding transit buses, school buses, shuttles, cargo van, and a cab and\nchassis. GreenPower employs a clean-sheet design to manufacture all-electric\nvehicles that are purpose built to be battery powered with zero emissions...\n\n[ CLICK TO LEARN MORE ](https://greenpowermotor.com/)\n\n* [ Cannabis ](/cannabis)\n\n * [ Green Deals ](/green-deals \"Pre-IPO Green Deals\")\n * [ Watch List ](/register)\n\n[ ](https://www.graphiteoneinc.com/)\n\n[ ](https://www.graphiteoneinc.com/)\n\n## Cronos Group Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids\n\n[ Follow ](/register)\n\n[ NASDAQ: CRON ](/market-data/stock-quote/cronos-group)\n\n[ Cannabis ](/cannabis)\n\n[ Consumer Brands ](/cannabis/consumer-brands)\n\n[ VISIT WEBSITE ](https://thecronosgroup.com/)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- **Cronos Group Inc.\u2019s** (NASDAQ:\nCRON) (TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand,\nSpinach\u00ae, is thrilled to introduce three all-new 1.2g vape products, each\nexpertly crafted with premium THC and enhanced with rare cannabinoids for a\nuniquely elevated experience. Along with these innovative vape offerings,\nCronos is also unveiling new SOURZ by Spinach\u00ae Fully Blasted flavors, infused\nwith rare cannabinoids.\n\nThe new lineup includes three new 1.2 gram vapes in the following formats:\n\n * [ **Mango Kiwi Haze CBC** ](https://spinachcannabis.com/strains/mango-kiwi/?sp=2) (Sativa): A refreshing, uplifting blend with a 1:10 CBC-to-THC ratio. \n * [ **Peach Passionfruit Kush CBN** ](https://spinachcannabis.com/strains/peach-passionfruit/?sp=2) (Indica): A dreamy, restful experience with a 1:10 CBN-to-THC ratio. \n * [ **Strawberry Watermelon OG CBG** ](https://spinachcannabis.com/strains/strawberry-watermelon-cbg/?sp=2) (Hybrid): A blissful, relaxed high with a 1:10 CBG-to-THC ratio. \n \n\nDesigned for consumers who prioritize both potency and added value, these\nvapes deliver 1,000mg of THC without compromising on the unique benefits of\nrare cannabinoids. Each product features winterized, distilled cannabis\nextract for purity, combined with terpene-rich flavors inspired by renowned\ncultivars. All Spinach\u00ae vapes are crafted with ceramic heaters, stainless\nsteel components, and food-grade materials to ensure quality and a smooth\nexperience.\n\nIn addition to the Spinach\u00ae vape launch, Cronos is expanding its best-selling\nedible line, SOURZ by Spinach\u00ae, with the new Fully Blasted lineup with each\npackage containing one 10mg THC gummy in bold, fruit-forward flavors:\n\n * [ **Mango Lime** ](https://spinachcannabis.com/forms/edibles/mango-lime/) : Tropical mango and tangy lime flavors with 10mg CBC and 10mg THC per gummy. \n * [ **Peach Passionfruit** : ](https://spinachcannabis.com/strains/peach-passionfruit/?sp=4) Peach and exotic passionfruit flavors with a balanced ratio of 10mg CBN and 10mg THC per gummy. \n * [ **Strawberry Watermelon** ](https://spinachcannabis.com/strains/strawberry-watermelon-cbg/?sp=4) : Strawberry and refreshing watermelon flavors with 10mg CBG and 10mg THC per gummy. \n \n\n_\u201cWe are thrilled to expand our Spinach\u00ae 1.2g vape and SOURZ by Spinach\u00ae Fully\nBlasted lineups with these innovative products that combine THC potency and\nthe added benefits of rare cannabinoids. This new lineup will deliver what so\nmany consumers are looking for: mouthwatering flavors, rare cannabinoid\nenhancers, and THC,\u201d said Mike Gorenstein, Chairman, President, and CEO of\nCronos Group. \u201cCronos is committed to delivering exceptional cannabis\nexperiences that meet evolving consumer preferences. Our goal is to\ncontinually innovate and provide our adult consumers with high-quality,\nenjoyable cannabis experiences. These new flavors and formulations reflect our\ndedication to quality, innovation, and giving consumers more reasons to choose\nSpinach\u00ae.\u201d \n_ \nThe launch is backed by the brand\u2019s in-store trade marketing, with dedicated\nbudtender education, digital placements, and enhanced point-of-purchase\nmaterials. For more information and availability, please visit: [\nspinachcannabis.com ](https://spinachcannabis.com/) .\n\n**About Cronos Group Inc.** \n \nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit:\nthecronosgroup.com.\n\n**Forward-looking Statements** \n \n_This press release may contain information that may constitute \u201cforward-\nlooking information\u201d or \u201cforward-looking statements\u201d within the meaning of\napplicable Canadian and U.S. securities laws and court decisions\n(collectively, \u201cForward-looking Statements\u201d). All information contained herein\nthat is not clearly historical in nature may constitute Forward-looking\nStatements. In some cases, Forward-looking Statements can be identified by the\nuse of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cplan\u201d,\n\u201canticipate\u201d, \u201cintend\u201d, \u201cpotential\u201d, \u201cestimate\u201d, \u201cbelieve\u201d or the negative of\nthese terms, or other similar expressions intended to identify Forward-looking\nStatements. Some of the Forward-looking Statements contained in this press\nrelease include statements about product launches and innovations and the\nconsumer experience with respect thereto; and the Company\u2019s intention to build\nan international iconic brand portfolio and develop disruptive intellectual\nproperty by advancing cannabis research, technology and product development.\nForward-looking Statements are necessarily based upon a number of estimates\nand assumptions that, while considered reasonable by management, are\ninherently subject to significant business, economic and competitive risks.\nFinancial results, performance or achievements expressed or implied by those\nForward-looking Statements and the Forward-looking Statements are not\nguarantees of future performance. A discussion of some of the material risks\napplicable to the Company can be found in the Company\u2019s Annual Report on Form\n10-K for the year ended December 31, 2024, which has been filed on SEDAR+ and\nEDGAR and can be accessed at www.sedarplus.ca and www.sec.gov/edgar,\nrespectively. Any Forward-looking Statement included in this press release is\nmade as of the date of this press release and, except as required by law,\nCronos disclaims any obligation to update or revise any Forward-looking\nStatement. Readers are cautioned not to put undue reliance on any Forward-\nlooking Statement._\n\n**Media Relations Contact:** \nEmily Whalen \nThis email address is being protected from spambots. You need JavaScript\nenabled to view it.\n\n**Investor Relations Contact:** \nHarrison Aaron \nThis email address is being protected from spambots. You need JavaScript\nenabled to view it.\n\n \n\n# Plug Into More Green Stock News\n\n#### Tap into the pulse of emerging green sectors every morning. Top daily\nheadlines from clean energy, cleantech, cannabis, and sustainable transport\nstocks:\n\nPlease review our [ Disclaimer ](/disclaimer) and [ Privacy Policy\n](/privacy-policy) before subscribing. One-click unsubscribe at any time.\n\n# More Green Stock News\n\n[ ](/news/otcmkts/gphof/graphite-one-advances-its-united-states-graphite-\nsupply-chain-solution-with-completion-of-a-bankable-feasibility-study)\n\n### [ Graphite One Advances its United States Graphite Supply Chain Solution\nwith Completion of a Bankable Feasibility Study\n](/news/otcmkts/gphof/graphite-one-advances-its-united-states-graphite-supply-\nchain-solution-with-completion-of-a-bankable-feasibility-study)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n[ ](/news/otcmkts/gphof/u-s-department-of-defense-s-defense-logistics-agency-\nhighlights-graphite-one-and-vorbeck-materials-project-to-develop-\nenvironmentally-friendly-graphite-based-foam-fire-fighting-material)\n\n### [ U.S. Department of Defense's Defense Logistics Agency Highlights\nGraphite One and Vorbeck Materials' Project to Develop Environmentally-\nFriendly... ](/news/otcmkts/gphof/u-s-department-of-defense-s-defense-\nlogistics-agency-highlights-graphite-one-and-vorbeck-materials-project-to-\ndevelop-environmentally-friendly-graphite-based-foam-fire-fighting-material)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n[ ](/news/nyse/srfm/surf-air-mobility-secures-50-million-financing-to-fund-\ntransformation-plan-and-path-to-profitability)\n\n### [ Surf Air Mobility Secures $50 Million Financing to Fund Transformation\nPlan and Path to Profitability ](/news/nyse/srfm/surf-air-mobility-\nsecures-50-million-financing-to-fund-transformation-plan-and-path-to-\nprofitability)\n\n * [ eVTOL ](/sustainable-transport/evtol)\n\n[ NYSE: SRFM ](/market-data/stock-quote/surf-air-mobility)\n\n* * *\n\n[ ](/news/otcmkts/rooof/northstar-releases-empower-calgary-facility-\nconstruction-video-series-episode-3-hse-and-major-equipment-installation)\n\n### [ Northstar Clean Technologies Releases Empower Calgary Facility\nConstruction Video Series Episode #3: HSE and Major Equipment Installation\n](/news/otcmkts/rooof/northstar-releases-empower-calgary-facility-\nconstruction-video-series-episode-3-hse-and-major-equipment-installation)\n\n * [ Enviro Solutions ](/cleantech/environmental-solutions)\n\n[ OTCMKTS: ROOOF ](/market-data/stock-quote/northstar-clean-technologies)\n\n* * *\n\n[ ](/news/otcmkts/gphof/graphite-one-announces-updated-graphite-creek-\nresource-and-reserve-estimates-tripling-proven-and-probable-reserves)\n\n### [ Graphite One Announces Updated Graphite Creek Resource and Reserve\nEstimates, Tripling Proven and Probable Reserves\n](/news/otcmkts/gphof/graphite-one-announces-updated-graphite-creek-resource-\nand-reserve-estimates-tripling-proven-and-probable-reserves)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n[ ](/news/nasdaq/devs/devvstream-enters-rec-market-in-asia-with-medellin-\nsolar-power-facility-partnership)\n\n### [ DevvStream Enters REC Market in Asia with Medellin Solar Power Facility\nPartnership ](/news/nasdaq/devs/devvstream-enters-rec-market-in-asia-with-\nmedellin-solar-power-facility-partnership)\n\n * [ Solar Power ](/clean-energy/solar-power)\n * [ Carbon Reduction ](/clean-energy/carbon-reduction)\n\n[ NASDAQ: DEVS ](/market-data/stock-quote/devvstream)\n\n* * *\n\n[ ](/news/otcmkts/gphof/alaska-governor-mike-dunleavy-identifies-graphite-one-\nas-a-priority-critical-mineral-project-in-alaska-state-of-the-state-address)\n\n### [ Alaska Governor Mike Dunleavy Identifies Graphite One as a Priority\nCritical Mineral Project in Alaska State of the State Address\n](/news/otcmkts/gphof/alaska-governor-mike-dunleavy-identifies-graphite-one-\nas-a-priority-critical-mineral-project-in-alaska-state-of-the-state-address)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n# More Green Stock News\n\n#### [ Surf Air Mobility Secures $50 Million Financing to Fund Transformation\nPlan and Path to Profitability ](/news/nyse/srfm/surf-air-mobility-\nsecures-50-million-financing-to-fund-transformation-plan-and-path-to-\nprofitability)\n\n * [ eVTOL ](/sustainable-transport/evtol)\n\n[ NYSE: SRFM ](/market-data/stock-quote/surf-air-mobility)\n\n* * *\n\n#### [ Alaska Governor Mike Dunleavy Identifies Graphite One as a Priority\nCritical Mineral Project in Alaska State of the State Address\n](/news/otcmkts/gphof/alaska-governor-mike-dunleavy-identifies-graphite-one-\nas-a-priority-critical-mineral-project-in-alaska-state-of-the-state-address)\n\n * [ Battery Metals ](/clean-energy/battery-metals)\n * [ Graphite ](/clean-energy/battery-metals/graphite)\n\n[ OTCMKTS: GPHOF ](/market-data/stock-quote/graphite-one)\n\n* * *\n\n#### [ Else Nutrition Launches 12-Week Pilot in Canada with Multinational\nWholesale Retailer ](/news/otcmkts/babyf/else-nutrition-launches-12-week-\npilot-in-canada-with-multinational-wholesale-retailer)\n\n * [ Plant-Based ](/cleantech/plant-based)\n\n[ OTCMKTS: BABYF ](/market-data/stock-quote/else-nutrition)\n\n* * *\n\n#### [ DevvStream Accepted into Singapore Carbon Market Alliance (SCMA),\nFocused on Carbon Credits Aligned with Article 6\n](/news/nasdaq/devs/devvstream-accepted-into-singapore-carbon-market-alliance-\nscma-focused-on-carbon-credits-aligned-with-article-6)\n\n * [ Carbon Reduction ](/clean-energy/carbon-reduction)\n\n[ NASDAQ: DEVS ](/market-data/stock-quote/devvstream)\n\nLast Trade: | US$ 1.79 \n---|--- \nDaily Change: | 0.02 1.13 \nDaily Volume: | 1,172,627 \nMarket Cap: | US$ 684.320M \nFebruary 27, 2025 [ Cronos Group Reports 2024 Fourth Quarter and Full-Year\nResults ](/news/nasdaq/cron/cronos-group-reports-2024-fourth-quarter-and-full-\nyear-results) November 12, 2024 [ Cronos Group Reports 2024 Third Quarter\nResults ](/news/nasdaq/cron/cronos-group-reports-2024-third-quarter-results)\nOctober 10, 2024 [ Cronos Group: Spinach Is the Number One Cannabis Brand in\nCanada ](/news/nasdaq/cron/spinach-is-the-number-one-cannabis-brand-in-canada)\nAugust 28, 2024 [ Cronos Group: Lord Jones Live Resin Vapes and Ice Water\nHash Pre-Rolls Now Available Across Canada ](/news/nasdaq/cron/lord-jones-\nlive-resin-vapes-and-ice-water-hash-pre-rolls-now-available-across-canada)\nAugust 08, 2024 [ Cronos Group Reports 2024 Second Quarter Results\n](/news/nasdaq/cron/cronos-group-reports-2024-second-quarter-results) [ LOAD\nMORE NEWS ](/market-data/stock-quote/cronos-group) \n \n[ ](https://www.northstarcleantech.com/)\n\nResearch Tools\n\n * [ Stock Screener ](/stock-screener)\n * [ Green Stock Lists ](/green-stock-lists)\n * [ Sector Heat Map ](/heat-map)\n * [ Market Data & Quotes ](/market-data)\n * [ Search ](/search)\n\nStock News\n\n * [ All Green Stock News ](/newsroom)\n * [ Green Stock Newswire ](/green-stock-newswire)\n * [ Clean Energy News ](/clean-energy)\n * [ Clean Technology News ](/cleantech)\n * [ Cannabis Stocks & News ](/stocks/cannabis-stocks)\n\nPopular Topics\n\n * [ Top Green Stocks in 2025 ](/best-green-stocks)\n * [ Clean Energy Stocks ](/stocks/clean-energy-stocks)\n * [ CleanTech Stocks ](/stocks/cleantech-stocks)\n * [ List of A.I. Stocks ](/stocks/artificial-intelligence-stocks)\n * [ Sustainable Transport Stocks ](/stocks/sustainable-transport-stocks)\n\nMiscellaneous\n\n * [ Free Daily Newsletter ](/newsletter)\n * [ Follow Us On X ](https://x.com/intent/follow?screen_name=greenstocknews)\n * [ Advertise Your Company ](/advertise)\n * [ Privacy Policy ](/privacy-policy)\n * [ Disclaimer ](/disclaimer)\n\nCOPYRIGHT \u00a92025 GREEN STOCK NEWS\n\n * [ Twitter ](https://twitter.com/intent/follow?screen_name=greenstocknews)\n * [ Privacy Policy ](/privacy-policy)\n * [ Disclaimer ](/disclaimer)\n * [ Advertise ](/advertise)\n\n * __ Tweet \n * __ Share \n * __ Share \n * __ Share \n * __ Share \n\n__\n\n__\n\n * __\n * __\n * __\n * __\n * __\n\nWe use cookies to enhance your experience. By continuing, you consent to our\nuse of cookies.\n\nContinue [ Learn More ](https://greenstocknews.com/privacy-policy)\n\n",
"url": "https://greenstocknews.com/news/nasdaq/cron/cronos-unveils-new-spinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-cannabinoids"
},
"reason": "GreenStockNews is a news source focused on cannabis stocks. The information is specific to Cronos Group's products and likely accurate, but the site may have a slight industry bias.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos unveils new Spinach 1.2g vapes and Sourz by Spinach gummies enhanced with rare cannabinoids.",
"url": "https://greenstocknews.com/news/nasdaq/cron/cronos-unveils-new-spinach-1-2g-vapes-and-sourz-by-spinach-gummies-enhanced-with-rare-cannabinoids"
},
{
"content": {
"metadata": {
"ext_id": "968425d6-eb87-4b13-9704-28f9b5accc8c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cw39.com/business/press-releases/globenewswire/9383737/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025"
},
"page_content": "Your browser appears to have Javascript disabled. \n \nFor instructions on how to enable Javascript please [ click here\n](https://instructions.humandemo.zone/enablejavascript.html) . \n \nIf you have any issues, please contact us at [ challengehelp@humansecurity.com\n](mailto:challengehelp@humansecurity.com?subject=Bot%20Challenge%20Issue%20-%20Javascript%20Disabled\n- Reference ID #0f416065-2110-11f0-90a8-850b95be916a&body=Client IP:\n34.96.35.23%0D%0ATimestamp: Thu, 24 Apr 2025 13:28:50 GMT%0D%0A---Please\ndescribe the issue you experienced below this line---)\n\n",
"url": "https://cw39.com/business/press-releases/globenewswire/9383737/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025"
},
"reason": "This is a press release distributed via GlobeNewswire and reported by CW39. It announces Cronos Group's earnings call. Press releases are generally reliable for factual information but may present a company's perspective.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "Cronos Group Inc. to hold 2024 fourth quarter and full-year earnings conference call on February 27, 2025.",
"url": "https://cw39.com/business/press-releases/globenewswire/9383737/cronos-group-inc-to-hold-2024-fourth-quarter-and-full-year-earnings-conference-call-on-february-27-2025"
},
{
"content": {
"metadata": {
"ext_id": "8e8f16cf-0e1b-4eb0-a051-610f53b8b2ba",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
"page_content": "| Company Name, Ticker, Competitors, else.. | | \n---|---|---|--- \n \n * [ HOME ](https://csimarket.com/index.php)\n * [ INDUSTRIES ](https://csimarket.com/Industry/Industry_Data.php)\n * [ NEWS ](https://csimarket.com/news/index.php)\n * [ MARKETS ](https://csimarket.com/markets/markets_glance.php)\n * [ ECONOMY ](https://csimarket.com/economy/At_glance.php)\n * [ SCREENING ](https://csimarket.com/screening/index.php)\n * [ GLOSSARY ](https://csimarket.com/glossary/term_Amortization.html)\n * [ HELP ](https://csimarket.com/help/About_us.php)\n\n * [ Company Profile ](https://csimarket.com/stocks/at_glance.php?code=CRON)\n * [ Cronos Group Inc News ](https://csimarket.com/stocks/news.php?code=CRON)\n * [ Cronos Group Inc's Price to earnings ratio PE ](https://csimarket.com/stocks/single_company_valuation_ttm.php?code=CRON&pe)\n * [ Cronos Group Inc's ROE ](https://csimarket.com/stocks/CRON-Return-on-Equity-ROE.html)\n * [ Cronos Group Inc Business Description ](https://csimarket.com/stocks/CRON-Business-Description.html)\n * [ Cronos Group Inc Executive Officers ](https://csimarket.com/stocks/CRON-Officers-Directors.html)\n * [ Economic Indicators ](https://csimarket.com/stocks/eco.php?code=CRON)\n * [ Fundamentals ](https://csimarket.com/stocks/fundamentals_glance.php?code=CRON)\n * [ Cronos Group Inc Growth Rates ](https://csimarket.com/stocks/growthrates.php?code=CRON)\n * [ Cronos Group Inc Profitability ](https://csimarket.com/stocks/Profitability.php?code=CRON)\n * [ Cronos Group Inc Valuation ](https://csimarket.com/stocks/CRON-Valuation-Comparisons.html)\n * [ Cronos Group Inc Management Effectiveness ](https://csimarket.com/stocks/CRON-Management-Effectiveness-Comparisons.html)\n * [ Cronos Group Inc Financial Strength ](https://csimarket.com/stocks/CRON-Financial-Strength-Comparisons.html)\n * [ Cronos Group Inc Efficiency ](https://csimarket.com/stocks/CRON-Efficiency-Comparisons.html)\n * [ Cronos Group Inc Dividend ](https://csimarket.com/stocks/CRON-Dividend-Comparisons.html)\n * [ Financials ](https://csimarket.com/stocks/financials_glance.php?code=CRON)\n * [ Cronos Group Inc Business Segments ](https://csimarket.com/stocks/segments.php?code=CRON)\n * [ Cronos Group Inc Income Statement ](https://csimarket.com/stocks/CRON-Income-Statement)\n * [ Cronos Group Inc Balance Sheets ](https://csimarket.com/stocks/CRON-Balance-Sheets)\n * [ Cronos Group Inc Cash Flow Statement ](https://csimarket.com/stocks/CRON-Cash-Flow-Statements)\n * [ Competition ](https://csimarket.com/stocks/compet_glance.php?code=CRON)\n * [ Cronos Group Inc Market Share ](https://csimarket.com/stocks/competitionSEG2.php?code=CRON)\n * [ Cronos Group Inc Competition Performance ](https://csimarket.com/stocks/competitionNO9.php?code=CRON)\n * [ Cronos Group Inc Competitors Results ](https://csimarket.com/stocks/competition2.php?code=CRON)\n * [ CRON Competitors Stock Performance ](https://csimarket.com/stocks/competitionNO2.php?code=CRON)\n * [ CRON Competitors Growth Rates ](https://csimarket.com/stocks/competitionNO3.php?code=CRON)\n * [ CRON Workforce Efficiency at the Competitors ](https://csimarket.com/stocks/competitionNO4.php?code=CRON)\n * [ CRON Competitors Efficiency ](https://csimarket.com/stocks/competitionNO5.php?code=CRON)\n * [ CRON Competitors Management Effectiveness ](https://csimarket.com/stocks/competitionNO6.php?code=CRON)\n * [ CRON Competitors Valuation ](https://csimarket.com/stocks/competitionNO8.php?code=CRON)\n * [ Charts & Quotes ](https://csimarket.com/stocks/charts.php?code=CRON)\n * [ CRON's Technical Analysis ](https://csimarket.com/stocks/CRON-technical-analysis)\n * [ Cronos Group Inc Comparison Charts ](https://csimarket.com/stocks/technicals_compare.php?code=CRON)\n * [ CRON OHLC Charts ](https://csimarket.com/stocks/technicals_ohlc.php?code=CRON)\n * [ CRON Line Charts ](https://csimarket.com/stocks/technicals_line.php?code=CRON)\n * [ CRON's Weekly Charts ](https://csimarket.com/stocks/technicals_ohlc_week.php?code=CRON)\n * [ CRON's Monthly Charts ](https://csimarket.com/stocks/technicals_ohlc_month.php?code=CRON)\n\n * * [ Home ](https://csimarket.com/index.php)\n * [ Cronos Group Inc's Profile ](https://csimarket.com/stocks/at_glance.php?code=CRON)\n * [ Company Charts and Quotes ](https://csimarket.com/stocks/charts.php?code=CRON)\n * [ CRON's OHLC Chart ](https://csimarket.com/stocks/technicals_ohlc.php?code=CRON)\n * [ Cronos Group Inc News ](https://csimarket.com/stocks/news.php?code=CRON)\n * [ Cronos Group Inc latest News ](https://csimarket.com/news/spinach-flourishes-as-leading-cannabis-brand-in-canada-cronos-group-s-innovative-strategy-and-summer-expansion2024-10-10131846)\n * [ Cronos Group Inc's Business Segments ](https://csimarket.com/stocks/segments.php?code=CRON)\n * [ Cronos Group Inc's Income Statement ](https://csimarket.com/stocks/CRON-Income-Statement)\n * [ Cronos Group Inc's Balance Sheets ](https://csimarket.com/stocks/CRON-Balance-Sheets)\n * [ Cronos Group Inc's Cash Flow Statement ](https://csimarket.com/stocks/CRON-Cash-Flow-Statements)\n * [ Cronos Group Inc's Profitability ](https://csimarket.com/stocks/Profitability.php?code=CRON)\n * [ Cronos Group Inc's Financials ](https://csimarket.com/stocks/financials_glance.php?code=CRON)\n * [ Cronos Group Inc's Net Margin ](https://csimarket.com/stocks/singleProfitabilityRatios.php?code=CRON&net)\n * [ Cronos Group Inc's Suppliers ](https://csimarket.com/stocks/suppliers_glance.php?code=CRON)\n * [ Cronos Group Inc's Competitors ](https://csimarket.com/stocks/compet_glance.php?code=CRON)\n * [ Cronos Group Inc's Markets & Customers ](https://csimarket.com/stocks/markets_glance.php?code=CRON)\n * [ Cronos Group Inc's Market Share ](https://csimarket.com/stocks/competitionSEG2.php?code=CRON)\n * [ CRON's Suppliers Valuation ](https://csimarket.com/stocks/competitionNO8.php?supply&code=CRON)\n * [ CRON's Competitors Efficiency ](https://csimarket.com/stocks/competitionNO5.php?code=CRON)\n * [ CRON's Charts Comparison ](https://csimarket.com/stocks/technicals_compare.php?code=CRON)\n * [ Cronos Group Inc's Customers Workforce Efficiency ](https://csimarket.com/stocks/competitionNO4.php?markets&code=CRON)\n * [ Economic Indicators ](https://csimarket.com/stocks/eco.php?code=CRON)\n * [ Stock Performance by Industry ](https://csimarket.com/Industry/Industry_Performance.php)\n * [ News ](https://csimarket.com/news/index.php)\n * [ Economy News ](https://csimarket.com/news/economy.php)\n * [ Stocks on the Move ](https://csimarket.com/news/stocks_on_move.php)\n * [ News on Clinical Trials ](https://csimarket.com/news/clinical_trails.php)\n * [ Previous News ](https://csimarket.com/news/index.php?hist=166)\n * [ Working Capital Ratio Screening ](https://csimarket.com/screening/index.php?s=wc)\n * [ Best performing Stocks in Consumer Non Cyclical Sector during the Current Month ](https://csimarket.com/markets/Best_in_Industry.php?s=500&days=cmonth)\n * [ Markets at a Glance ](https://csimarket.com/markets/markets_glance.php)\n * [ Stocks ](https://csimarket.com/markets/Stocks.php)\n * [ Cryptocurrencies ](https://csimarket.com/markets/Cryptocurrencies.php)\n * [ Sectors & Industries ](https://csimarket.com/markets/Sectors1.php)\n * [ Worst performing Stocks in Legal Cannabis industry during the Current Month ](https://csimarket.com/markets/Worst_in_Industry.php?ind=509&days=cmonth)\n * [ Commodities ](https://csimarket.com/markets/Commodities.php)\n * [ Foreign Exchange ](https://csimarket.com/markets/Currencies.php)\n * [ Stocks in 2024 ](https://csimarket.com/markets/year.php?year=2024#tablecomp)\n * [ Construction Spending ](https://csimarket.com/economy/ConstructionSpending_glance.php)\n * [ News ](https://csimarket.com/news/index.php)\n * [ Economy News ](https://csimarket.com/news/economy.php)\n * [ Business News ](https://csimarket.com/news/stocks.php)\n * [ Cronos Group Inc latest News ](https://csimarket.com/news/spinach-flourishes-as-leading-cannabis-brand-in-canada-cronos-group-s-innovative-strategy-and-summer-expansion2024-10-10131846)\n * [ Technical Analysis ](https://csimarket.com/glossary/category_ta.html)\n\n| [ ](https://csimarket.com/stocks/search.php) \n---|--- \n \n--- \n| | Cronos Group Inc (NASDAQ: CRON ) | | Other Ticker: | \n---|--- \n| | Sector [ \u2022 Consumer Non Cyclical ](https://csimarket.com/Industry/Industry_Data.php?s=500) Industry [ \u2022 Legal Cannabis ](https://csimarket.com/Industry/Industry_Data.php?ind=509) | \n---|---|--- \n \nIndustry [ \u2022 Legal Cannabis\n](https://csimarket.com/Industry/Industry_Data.php?ind=509) \n--- \nSector [ \u2022 Consumer Non Cyclical\n](https://csimarket.com/Industry/Industry_Data.php?s=500) \n \n \n\n# Cronos Group Inc\n\n## Business Description\n\n \nCronos Group Inc is a Canadian cannabis company that operates globally. It was\nfounded in 2013 by two entrepreneurs, and it was one of the first companies to\nreceive a cultivation license from Health Canada. The company is publicly\ntraded on the Toronto Stock Exchange and the NASDAQ. \n \nCronos Group has established itself as a leading player in the cannabis\nindustry. It operates through its three wholly-owned subsidiaries: Cronos\nGrowing Company Inc, Cronos Israel, and Cronos Australia. These subsidiaries\nfocus on the cultivation, production, and distribution of cannabis products. \n \nOne of the key strengths of Cronos Group is its diverse portfolio of brands\nand products. The company*s offerings include dried flower, oils, pre-rolls,\nvapes, and cannabis-infused beverages. It has also gained a reputation for\ndeveloping innovative and high-quality products by leveraging advanced\nresearch and development capabilities. \n \nCronos Group has a strong international presence. It has strategically entered\ninto partnerships and agreements with companies in various countries to expand\nits global footprint. For example, it has an exclusive distribution agreement\nwith Delfarma, a leading pharmaceutical distributor in Poland. Additionally,\nCronos Group has partnered with Kibbutz Gan Shmuel, an agricultural community\nin Israel, to establish a state-of-the-art cultivation facility. \n \nThe company*s commitment to research and development sets it apart in the\nindustry. Cronos Group invests significantly in scientific research to develop\nnew cannabis products and to improve the efficiency of cultivation and\nextraction processes. It has established a cutting-edge research and\ndevelopment facility to drive innovation and create a competitive advantage. \n \nCronos Group prioritizes sustainable and responsible operations. It is focused\non minimizing its environmental impact and ensuring the health and safety of\nits employees. The company has implemented various initiatives to promote\nsustainability, such as adopting energy-efficient technologies and reducing\nwater consumption in its cultivation facilities. \n \nIn addition to its core cannabis business, Cronos Group is actively exploring\nopportunities in the hemp-derived CBD market. It has launched various CBD\nproducts, including topicals and tinctures, to capitalize on the growing\ndemand for CBD-infused products. \n \nDespite its strong position in the industry, Cronos Group faces challenges and\nrisks. The cannabis market is highly regulated, and changes in regulations\ncould impact the company*s operations. Additionally, increased competition,\nboth domestically and internationally, poses a threat to its market share and\nprofitability. \n \nIn conclusion, Cronos Group Inc is a leading Canadian cannabis company with a global presence. It has established itself as an innovative and sustainable player in the industry, with a diverse portfolio of cannabis products. The company*s ongoing investments in research and development, along with strategic partnerships, position it for growth in the evolving cannabis market. | \n \n[ Business Description ](CRON-Business-Description.html) [ Officers &\nDirectors ](CRON-Officers-Directors.html) \n---|--- \n \n[ View Company Supplier ](suppliers_glance.php?code=CRON) | [ View Company Competition ](competition.php?code=CRON) | [ View Company Customers ](markets_glance.php?code=CRON) \n---|---|--- \n \n \n \n[ Help ](https://csimarket.com/help/index.php) \n \n[ About us ](https://csimarket.com/help/About_us.php) \n \n[ Advertise ](https://csimarket.com/help/Advertise.php) \n \n \n--- \n \nCSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings,\nEconomy, News and Research. \nCopyright \ufffd 2025 CSIMarket, Inc. All rights reserved. \n \nIntraday data delayed per exchange requirements. All quotes are in local\nexchange time. Intraday data delayed 15 minutes for Nasdaq, and other\nexchanges. Fundamental and financial data for Stocks, Sector, Industry, and\nEconomic Indicators provided by CSIMarket.com\n\n",
"url": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
"reason": "CSIMarket provides business descriptions and financial analysis of companies. The information is generally reliable but may not be as up-to-date as primary sources.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' energy efficiency",
"summary": "CSIMarket provides a business description of Cronos Group.",
"url": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
{
"content": {
"metadata": {
"ext_id": "e6e2de40-042e-4beb-af96-6523318f287c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/764180/000120677422001025/mo3924701-def14a.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501331.d6433e2\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/764180/000120677422001025/mo3924701-def14a.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by Altria Group, Inc. regarding The Cronos Group Inc., making it an official and highly reliable source of information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' materiality assessment",
"summary": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by Altria Group, Inc. regarding The Cronos Group Inc., making it an official and highly reliable source of information.",
"url": "https://www.sec.gov/Archives/edgar/data/764180/000120677422001025/mo3924701-def14a.htm"
},
{
"content": {
"metadata": {
"ext_id": "606c4df0-6711-4229-b25e-d4b2887f60a6",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.linkedin.com/company/cronos-esg/"
},
"page_content": "Skip to main content\n\n# CRONOS ESG\n\n## IT Services and IT Consulting\n\n### Kontich, Flemish Region 583 followers\n\n#### Building a stronger, greener business together. End-to-end guidance and\nsupport for sustainable business practices.\n\n[ Follow\n](https://www.linkedin.com/login?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&fromSignIn=true&trk=top-card_top-card-secondary-button-top-card-secondary-\ncta)\n\n * [ Report this company ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=top-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=COMPANY&_f=guest-reporting)\n\n## About us\n\nCRONOS ESG, part of De Cronos Groep, supports businesses in enhancing their\nsustainability efforts throughout the entire journey by combining diverse\nskills and expertise. Our Cronos ESG Community members are a diverse group of\nexperts dedicated to Environmental, Social, and Governance (ESG) practices.\nYou can benefit from tailored expertise and specialized skills, a\ncollaborative approach, continuous learning, and innovative solutions that\ndrive sustainability leadership.\n\nWebsite\n\n [ www.cronos-esg.be/ ](https://www.linkedin.com/redir/redirect?url=http%3A%2F%2Fwww%2Ecronos-esg%2Ebe%2F&urlhash=wxOw&trk=about_website)\n\nExternal link for CRONOS ESG\n\nIndustry\n\n IT Services and IT Consulting \n\nCompany size\n\n 5,001-10,000 employees \n\nHeadquarters\n\n Kontich, Flemish Region \n\nType\n\n Privately Held \n\nFounded\n\n 2024 \n\nSpecialties\n\n ESG, Sustainability, Maturity Assessments, Communication, Governance, Data Services, Footprint analysis, Technology, Microsoft, SAP , Accesibility, Community engagement, Project Management, Reporting, CSRD, ESRS, GRI, EU Taxonomy, EPC, Green Building, Energy Audit, Sustainability Manager, Tool selection & implementation, Sustainable HR, Diversity & Inclusion, Data reporting, Compliancy, and Regulatory \n\n## Locations\n\n * Primary \n\nVeldkant 33A\n\nKontich, Flemish Region 2550, BE\n\n[ Get directions\n](https://www.bing.com/maps?where=Veldkant+33A+Kontich+2550+Flemish+Region+BE&trk=org-\nlocations_url)\n\n * Gent, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Gent+BE&trk=org-\nlocations_url)\n\n * Antwerp, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Antwerp+BE&trk=org-\nlocations_url)\n\n * Brussels, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Brussels+BE&trk=org-\nlocations_url)\n\n * Hasselt, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Hasselt+BE&trk=org-\nlocations_url)\n\n * Kortrijk, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Kortrijk+BE&trk=org-\nlocations_url)\n\n * Leuven, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Leuven+BE&trk=org-\nlocations_url)\n\n## Updates\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-experience-day-activity-7313478544972558339-OEjS)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n3w\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udde6\ud835\uddf5\ud835\uddee\ud835\uddff\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf6\ud835\uddfb\ud835\ude00\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01\ud835\ude00 \ud835\uddee\ud835\ude01 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddd8\ud835\ude05\ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\uddf6\ud835\uddf2\ud835\uddfb\ud835\uddf0\ud835\uddf2 \ud835\uddd7\ud835\uddee\ud835\ude06! \ud83c\udf0d Last week, Cronos ESG\ntook the stage at [ De Cronos Groep\n](https://be.linkedin.com/company/cronos?trk=organization_guest_main-feed-\ncard-text) \u2019s Sustainability Experience Day! \ud83c\udfa4\u267b\ufe0f We showcased how the ESG\nCommunity within Cronos brings together expertise, leverages data as a\nfoundation, and harnesses De Cronos Groep\u2019s ecosystem to drive real\nsustainability impact. Through targeted strategies and strong communication,\nwe amplify change and bring actionable solutions to the market. \ud83d\ude80 \ud83d\udca1 And that\u2019s\nnot all! Other Cronos ESG experts led inspiring sessions on Digital Product\nPassports (DPP), Sustainable HR, Change & Impact, and more. A big thank you to\n[ Jocelijn Geurts ](https://be.linkedin.com/in/jocelijngeurts-\nduurzaamondernemen?trk=organization_guest_main-feed-card-text) and MVO Cronos\nfor the invitation! \ud83d\ude4c [ #Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #Event\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fevent&trk=organization_guest_main-\nfeed-card-text) [ #Leadership\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fleadership&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n` ` ` `\n\n[ 14\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` ` [ 1 Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-comments)\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_worldovershootday-sustainablebusiness-activity-7310948792034357250-fp8x)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n4w\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d Today is \ud835\uddea\ud835\uddfc\ud835\uddff\ud835\uddf9\ud835\uddf1 \ud835\udde2\ud835\ude03\ud835\uddf2\ud835\uddff\ud835\ude00\ud835\uddf5\ud835\uddfc\ud835\uddfc\ud835\ude01 \ud835\uddd7\ud835\uddee\ud835\ude06 \u2014a stark reminder that our current way of doing\nbusiness is exceeding the planet\u2019s limits. But what if companies became the\ndriving force behind real change? Sustainability isn\u2019t just an ethical choice;\nit\u2019s a business imperative. By making operations more sustainable,\norganizations can reduce costs, increase efficiency, and build long-term\nresilience. At Cronos ESG, we support businesses in: \u2714\ufe0f Embedding\nsustainability into decision-making \u2714\ufe0f Developing measurable ESG strategies \u2714\ufe0f\nTurning ambitions into tangible action \u2714\ufe0f And so much more \ud83d\udca1 Let\u2019s move the\ndate back together. Learn how we can help you: [ https://cronos-esg.be/\n](https://cronos-esg.be/?trk=organization_guest_main-feed-card-text) [\n#WorldOvershootDay\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fworldovershootday&trk=organization_guest_main-\nfeed-card-text) [ #SustainableBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainablebusiness&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 2\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_greenbusiness-sustainabilityleadership-activity-7310223945033482241-nZN7)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83d\ude80 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddf6\ud835\ude00 \ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddf2 \ud835\ude01\ud835\uddf5\ud835\uddee\ud835\uddfb \ud835\uddee \ud835\ude01\ud835\uddff\ud835\uddf2\ud835\uddfb\ud835\uddf1\u2014\ud835\uddf6\ud835\ude01\u2019\ud835\ude00 \ud835\uddee \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf2\ud835\ude01\ud835\uddf6\ud835\ude01\ud835\uddf6\ud835\ude03\ud835\uddf2 \ud835\uddee\ud835\uddf1\ud835\ude03\ud835\uddee\ud835\uddfb\ud835\ude01\ud835\uddee\ud835\uddf4\ud835\uddf2. Businesses\nthat prioritize sustainability don\u2019t just reduce their environmental impact;\nthey also cut costs, improve efficiency, and enhance brand loyalty. But not\nevery company has the in-house expertise to build and execute a strong ESG\nstrategy. That\u2019s why we created Sustainability Manager as a Service (SMaaS)\u2014to\nprovide businesses with the expert leadership they need, on a flexible basis.\n\ud835\uddea\ud835\uddf5\ud835\ude06 \ud835\uddf0\ud835\uddf5\ud835\uddfc\ud835\uddfc\ud835\ude00\ud835\uddf2 \ud835\udde6\ud835\udde0\ud835\uddee\ud835\uddee\ud835\udde6? \u2714 No need for a full-time hire\u2014cost-effective & scalable \u2714\nAccess to top-tier sustainability expertise \u2714 Clear, actionable strategies\nthat deliver measurable results \u2714 Support for compliance, reporting, and\nstakeholder engagement \ud83d\udca1 Let\u2019s make sustainability work for your\nbusiness\u2014reach out now: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#GreenBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgreenbusiness&trk=organization_guest_main-\nfeed-card-text) [ #SustainabilityLeadership\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainabilityleadership&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_gs1forum2025-sustainablebusiness-circulareconomy-activity-7308415035825897474-LAH6)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d Our community members [ Tracked ](https://be.linkedin.com/company/tracked-\nbe?trk=organization_guest_main-feed-card-text) and [ Zeticon\n](https://be.linkedin.com/company/zeticon?trk=organization_guest_main-feed-\ncard-text) are attending the [ GS1 Belgium & Luxembourg\n](https://be.linkedin.com/company/gs1-belgium&luxembourg?trk=organization_guest_main-\nfeed-card-text) Forum 2025 today! This annual event brings together\nprofessionals from various industries, and this year\u2019s theme, \ud835\udde5\ud835\uddf2\ud835\uddf1\ud835\uddf2\ud835\uddf3\ud835\uddf6\ud835\uddfb\ud835\uddf6\ud835\uddfb\ud835\uddf4\n\ud835\uddd5\ud835\ude02\ud835\ude00\ud835\uddf6\ud835\uddfb\ud835\uddf2\ud835\ude00\ud835\ude00 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddee \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\udde7\ud835\uddfc\ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddff\ud835\uddfc\ud835\ude04, aligns perfectly with our shared vision\nof a more sustainable future. \ud83d\udd0d Visit their booth and discover how product\ntransparency and sustainability goals can be optimised by combining the power\nof Intelligent Information Management (IIM) and the Digital Product Passport\n(DPP). The DPP, a legal requirement under the European Green Deal, ensures\ntraceability and authenticity of your products. It also contains detailed\ninformation on reuse and recycling, driving circularity. \ud83d\udca1 Speak with our\nexperts about their insights and experience with the DPP, and learn how to\nprepare your organisation efficiently for a sustainable future! [\n#GS1Forum2025\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgs1forum2025&trk=organization_guest_main-\nfeed-card-text) [ #SustainableBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainablebusiness&trk=organization_guest_main-\nfeed-card-text) [ #CircularEconomy\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcirculareconomy&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 11\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-sustainableit-esg-activity-7307687297473282049-zmAw)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udddc\ud835\ude00 \ud835\ude06\ud835\uddfc\ud835\ude02\ud835\uddff \ud835\udddc\ud835\udde7 \ud835\uddf1\ud835\uddf2\ud835\uddfd\ud835\uddee\ud835\uddff\ud835\ude01\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 \ud835\uddf1\ud835\uddff\ud835\uddf6\ud835\ude03\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddf3\ud835\uddfc\ud835\uddff\ud835\ude04\ud835\uddee\ud835\uddff\ud835\uddf1? \ud83d\udcbb\ud83c\udf31 Our \ud835\udddc\ud835\udde7 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06\n\ud835\udde0\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddd4\ud835\ude00\ud835\ude00\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 evaluates your IT department\u2019s sustainability maturity\nacross Environmental, Social, and Governance (ESG) aspects. Through a\ncomprehensive qualitative survey, we identify strengths and areas for\nimprovement, providing immediate implementation ideas. Based on the insights\ngathered, we develop tailored recommendations and an action plan to help your\nIT team advance its sustainability efforts. Ready to take your IT\nsustainability strategy to the next level? \ud83d\ude80 Ready to improve your IT\nsustainability? Reach out to us today: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #SustainableIT\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainableit&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_webinar-epcnr-esg-activity-7305875413430398976-Qirk)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83d\udd34 \ud835\udff4\ud835\udfec% \ud835\uddfc\ud835\uddf3 \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddee\ud835\uddfb\ud835\uddf6\ud835\uddf2\ud835\ude00 \ud835\uddee\ud835\uddff\ud835\uddf2 \ud835\udde1\ud835\udde2\ud835\udde7 \ud835\uddff\ud835\uddf2\ud835\uddee\ud835\uddf1\ud835\ude06 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddd8\ud835\udde3\ud835\uddd6 \ud835\udde1\ud835\udde5. \ud835\uddd4\ud835\uddff\ud835\uddf2 \ud835\ude06\ud835\uddfc\ud835\ude02? Starting January 1,\n2025, all non-residential buildings over 1,000 m\u00b2 must have an EPC NR\ncertificate\u2014no exceptions. Smaller buildings? Your deadline is January 1,\n2026. \u2757 Failure to comply could result in fines from VEKA. Not sure where to\nstart? We've got you covered! Join the free webinar of [ EPBeter\n](https://be.linkedin.com/company/epbeter?trk=organization_guest_main-feed-\ncard-text) , member of our Cronos ESG Community, to get clear, practical\ninsights on what EPC NR means for your business and how to prepare in time. \ud83d\udcc5\nTuesday, March 25 \ud83d\udd50 13:00 \ud83d\udd17 Register now: [ https://lnkd.in/e2TA2pPx\n](https://lnkd.in/e2TA2pPx?trk=organization_guest_main-feed-card-text) [\n#webinar\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fwebinar&trk=organization_guest_main-\nfeed-card-text) [ #EPCNR\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fepcnr&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` ` [ 1 Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-comments)\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_esg-sustainability-impact-activity-7305150569046822912-vz5Y)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo Edited\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0e \ud835\udde2\ud835\uddfa\ud835\uddfb\ud835\uddf6\ud835\uddef\ud835\ude02\ud835\ude00 \ud835\uddee\ud835\uddfb\ud835\uddf1 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddf3\ud835\ude02\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2 \ud835\uddfc\ud835\uddf3 \ud835\uddd8\ud835\udde6\ud835\uddda: \ud835\ude04\ud835\uddf5\ud835\uddee\ud835\ude01\u2019\ud835\ude00 \ud835\uddfb\ud835\uddf2\ud835\ude05\ud835\ude01? The EU's \ud835\udde2\ud835\udde0\ud835\udde1\ud835\udddc\ud835\uddd5\ud835\udde8\ud835\udde6 \ud835\uddf1\ud835\uddf6\ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\ude01\ud835\uddf6\ud835\ude03\ud835\uddf2 eases\nreporting requirements, but does this mean ESG is losing relevance? Absolutely\nnot\u2014it\u2019s shifting from obligation to opportunity. \ud83d\udd0e \ud835\uddde\ud835\uddf2\ud835\ude06 \ud835\uddf0\ud835\uddf5\ud835\uddee\ud835\uddfb\ud835\uddf4\ud835\uddf2\ud835\ude00: \u2022 CSRD aligns\nwith CSDDD, meaning new obligations will apply only to companies with 1,000+\nemployees and \u20ac50M+ revenue. \u2022 The second wave of CSRD reporting has been\npostponed by two years. \u2022 CSDDD: due diligence requirements have been\nrestricted, and civil liability has been removed. \u2022 Double Materiality remains\nessential \u2013 companies must still report on both financial and impact\nmateriality. \u2022 The EU Taxonomy has evolved into VSME (Voluntary Sustainability\nReporting Standard). \ud83d\udca1 \ud835\uddd8\ud835\udde6\ud835\uddda \ud835\uddf6\ud835\ude00\ud835\uddfb\u2019\ud835\ude01 \ud835\uddf7\ud835\ude02\ud835\ude00\ud835\ude01 \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf9\ud835\uddf6\ud835\uddee\ud835\uddfb\ud835\uddf0\ud835\uddf2\u2014\ud835\uddf6\ud835\ude01\u2019\ud835\ude00 \ud835\uddee \ud835\ude00\ud835\ude01\ud835\uddff\ud835\uddee\ud835\ude01\ud835\uddf2\ud835\uddf4\ud835\uddf6\ud835\uddf0 \ud835\uddee\ud835\uddf1\ud835\ude03\ud835\uddee\ud835\uddfb\ud835\ude01\ud835\uddee\ud835\uddf4\ud835\uddf2.\n\ud835\udddb\ud835\uddf2\ud835\uddff\ud835\uddf2\u2019\ud835\ude00 \ud835\ude04\ud835\uddf5\ud835\ude06: \ud83d\udc49 Transparency builds trust. A strong ESG foundation enhances\nbrand reputation, customer loyalty, and market position. \ud83d\udc49 Sustainable\nbusinesses perform better. They are more resilient to market shifts and\nconsistently achieve superior long-term financial results. \ud83d\udc49 A proactive ESG\nstrategy drives innovation. It positions you ahead of regulatory changes,\nattracts top talent, and makes you more appealing to investors. What\u2019s your\ntake? Let\u2019s connect and explore how we can support your ESG strategy! [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #Impact\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fimpact&trk=organization_guest_main-\nfeed-card-text) [ #CSDDD\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcsddd&trk=organization_guest_main-\nfeed-card-text) [ #CSRD\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcsrd&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-maturityassessment-esg-activity-7302632392656113664-cacO)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udddb\ud835\uddfc\ud835\ude04 \ud835\uddfa\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2 \ud835\uddf6\ud835\ude00 \ud835\ude06\ud835\uddfc\ud835\ude02\ud835\uddff \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\ude00\ud835\ude01\ud835\uddff\ud835\uddee\ud835\ude01\ud835\uddf2\ud835\uddf4\ud835\ude06? \ud83c\udf3f Our \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\udde0\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf6\ud835\ude01\ud835\ude06\n\ud835\uddd4\ud835\ude00\ud835\ude00\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 provides a clear picture of where your organization stands in its\nsustainability journey. We evaluate key areas such as energy use, waste\nmanagement, and social responsibility, benchmarking your performance against\nindustry standards. By identifying strengths and areas for improvement, we\ndeliver \ud835\uddee\ud835\uddf0\ud835\ude01\ud835\uddf6\ud835\uddfc\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\uddf6\ud835\uddfb\ud835\ude00\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01\ud835\ude00 that help you strategically plan and prioritize\nsustainability initiatives. Ready to take the next step toward a more\nsustainable future? Let\u2019s assess your progress together. \ud83d\udce9 Contact us to learn\nmore: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #MaturityAssessment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fmaturityassessment&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_community-futureproof-esg-activity-7300801953373061120-lJdk)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\nSustainability is more than a goal\u2014it\u2019s a continuous challenge that requires\n\ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddff\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01 \ud835\uddf2\ud835\ude05\ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\ude01\ud835\uddf6\ud835\ude00\ud835\uddf2 \ud83d\udd0d No single perspective has all the answers, which is why\ncollaboration is essential. At Cronos ESG, we unite experts across different\nEnvironmental, Social and Governance fields to tackle challenges from multiple\nangles. By combining knowledge, we don\u2019t just adapt\u2014we drive lasting impact. \ud83d\udca1\nCurious how our expertise can support your sustainability goals and strategy?\nLet\u2019s talk: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) \ud83d\udce9 [\n#Community\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcommunity&trk=organization_guest_main-\nfeed-card-text) [ #FutureProof\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Ffutureproof&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_gis-climatechange-esg-activity-7300077140639707136-dSl9)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d \ud835\uddd6\ud835\uddee\ud835\uddfb \ud835\uddda\ud835\udddc\ud835\udde6 \ud835\ude01\ud835\uddf2\ud835\uddf0\ud835\uddf5\ud835\uddfb\ud835\uddfc\ud835\uddf9\ud835\uddfc\ud835\uddf4\ud835\ude06 \ud835\uddf1\ud835\uddff\ud835\uddf6\ud835\ude03\ud835\uddf2 \ud835\uddee \ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddf2 \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\uddf3\ud835\ude02\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2? \ud83c\udf31 Geographical\nInformation Systems (GIS) are changing the game for businesses and\nmunicipalities, enabling data-driven decisions for climate action and\nsustainability. Here are three keyways GIS is making an impact: \ud83d\udcca \ud835\uddd8\ud835\udde6\ud835\uddda\n\ud835\udde5\ud835\uddf2\ud835\uddfd\ud835\uddfc\ud835\uddff\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddd6\ud835\udde6\ud835\udde5\ud835\uddd7 \ud835\uddd6\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf9\ud835\uddf6\ud835\uddee\ud835\uddfb\ud835\uddf0\ud835\uddf2 \u2013 GIS visualizes crucial environmental data,\nlike CO\u2082 emissions and biodiversity, helping organizations comply with CSRD\nand ESRS regulations. \ud83c\udf33 \ud835\uddd6\ud835\uddff\ud835\uddf2\ud835\uddee\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddda\ud835\uddff\ud835\uddf2\ud835\uddf2\ud835\uddfb\ud835\uddf2\ud835\uddff \ud835\uddd6\ud835\uddf6\ud835\ude01\ud835\uddf6\ud835\uddf2\ud835\ude00 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\udfef-\ud835\udfef\ud835\udfec-\ud835\udfef\ud835\udfec\ud835\udfec \ud835\udde5\ud835\ude02\ud835\uddf9\ud835\uddf2 \u2013 GIS\nplays a vital role in planning and tracking urban green spaces, promoting\nhealthier communities. \u26a0\ufe0f \ud835\udde5\ud835\uddf6\ud835\ude00\ud835\uddf8 \ud835\uddd9\ud835\uddfc\ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\uddee\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\udde6\ud835\uddfa\ud835\uddee\ud835\uddff\ud835\ude01\ud835\uddf2\ud835\uddff \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\ude00 \u2013 GIS helps\nmap environmental risks, such as flooding or pollution, empowering businesses\nto minimize risk exposure. \ud83d\udd17 Explore how GIS technology is supporting\nsustainable strategies. Read the full case here: [ https://lnkd.in/eUMBKXRW\n](https://lnkd.in/eUMBKXRW?trk=organization_guest_main-feed-card-text) We\nappreciate [ GeoWeave\n](https://be.linkedin.com/company/geoweave?trk=organization_guest_main-feed-\ncard-text) for teaming up with us on this valuable case! \ud83d\ude4c [ #GIS\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgis&trk=organization_guest_main-\nfeed-card-text) [ #ClimateChange\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fclimatechange&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 8\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n` ` ` ` ` `\n\n## Join now to see what you are missing\n\n * Find people you know at CRONOS ESG \n * Browse recommended jobs for you \n * View all updates, news, and articles \n\n[ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=public_biz_promo-join)\n\n## Similar pages\n\n * ### [ De Cronos Groep Information Technology & Services ](https://be.linkedin.com/company/cronos?trk=similar-pages)\n * ### [ Oxygen Group IT Services and IT Consulting ](https://be.linkedin.com/company/this-is-oxygen-group?trk=similar-pages)\n * ### [ Cronos Business Services IT Services and IT Consulting ](https://be.linkedin.com/company/cronos-business-services?trk=similar-pages)\n * ### [ openlab suisse Business Consulting and Services ](https://ch.linkedin.com/company/openlab-suisse?trk=similar-pages)\n * ### [ ARK - Marketing Intelligence As A Service Marketing Services Antwerp, Flemish Region ](https://be.linkedin.com/company/ark-revenue-growth-by-performance-marketing?trk=similar-pages)\n * ### [ Pygmaline Law Practice ](https://www.linkedin.com/company/pygmaline?trk=similar-pages)\n * ### [ Collon: collectief ondernemers Business Consulting and Services ](https://www.linkedin.com/company/collon-collectiefondernemers?trk=similar-pages)\n * ### [ Factivity Public Relations and Communications Services Edegem, Belgi\u00eb ](https://be.linkedin.com/company/factivity-agency?trk=similar-pages)\n * ### [ ESG-simplified Business Consulting and Services ](https://be.linkedin.com/company/esgsimplified?trk=similar-pages)\n * ### [ Pro-Active Advertising Services Antwerpen, Antwerpen ](https://be.linkedin.com/company/pro-active-data-driven-agency?trk=similar-pages)\n\n * * [ Product Manager jobs ](https://www.linkedin.com/jobs/product-manager-jobs?trk=organization_guest_linkster_link)\n * [ Freelance Marketing jobs ](https://www.linkedin.com/jobs/freelance-marketing-jobs?trk=organization_guest_linkster_link)\n\n * [ Marketing Assistant jobs ](https://www.linkedin.com/jobs/marketing-assistant-jobs?trk=organization_guest_linkster_link)\n * [ Marketing Specialist jobs ](https://www.linkedin.com/jobs/marketing-specialist-jobs?trk=organization_guest_linkster_link)\n\n * LinkedIn \u00a9 2025 \n * [ About ](https://about.linkedin.com?trk=d_org_guest_company_overview_footer-about)\n * [ Accessibility ](https://www.linkedin.com/accessibility?trk=d_org_guest_company_overview_footer-accessibility)\n * [ User Agreement ](https://www.linkedin.com/legal/user-agreement?trk=d_org_guest_company_overview_footer-user-agreement)\n * [ Privacy Policy ](https://www.linkedin.com/legal/privacy-policy?trk=d_org_guest_company_overview_footer-privacy-policy)\n * [ Your California Privacy Choices ](https://www.linkedin.com/legal/california-privacy-disclosure?trk=d_org_guest_company_overview_footer-california-privacy-rights-act)\n * [ Cookie Policy ](https://www.linkedin.com/legal/cookie-policy?trk=d_org_guest_company_overview_footer-cookie-policy)\n * [ Copyright Policy ](https://www.linkedin.com/legal/copyright-policy?trk=d_org_guest_company_overview_footer-copyright-policy)\n * [ Brand Policy ](https://brand.linkedin.com/policies?trk=d_org_guest_company_overview_footer-brand-policy)\n * [ Guest Controls ](https://www.linkedin.com/psettings/guest-controls?trk=d_org_guest_company_overview_footer-guest-controls)\n * [ Community Guidelines ](https://www.linkedin.com/legal/professional-community-policies?trk=d_org_guest_company_overview_footer-community-guide)\n * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * \n\n` ` ` ` ` ` ` ` ` ` ` `\n\n## Sign in to see who you already know at CRONOS ESG\n\n## Welcome back\n\n` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=organization_guest_contextual-sign-in-\nmodal_sign-in-modal_auth-button_user-agreement) , [ Privacy Policy\n](/legal/privacy-policy?trk=organization_guest_contextual-sign-in-modal_sign-\nin-modal_auth-button_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=organization_guest_contextual-sign-in-modal_sign-in-modal_auth-\nbutton_cookie-policy) .\n\nNew to LinkedIn? [ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_contextual-sign-in-modal_sign-in-modal_join-link)\n\nor\n\nNew to LinkedIn? [ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_contextual-sign-in-modal_join-link)\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=linkedin-tc_auth-button_user-agreement)\n, [ Privacy Policy ](/legal/privacy-policy?trk=linkedin-tc_auth-\nbutton_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=linkedin-tc_auth-button_cookie-policy) .\n\n` ` ` `\n\n",
"url": "https://www.linkedin.com/company/cronos-esg/"
},
"reason": "This is the LinkedIn page for Cronos ESG, which appears to be related to The Cronos Group based on the description of bridging the gap between business and IT. While LinkedIn is a professional networking site and can be considered moderately reliable, the information is self-reported by the company.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' materiality assessment",
"summary": "This is the LinkedIn page for Cronos ESG, which appears to be related to The Cronos Group based on the description of bridging the gap between business and IT. While LinkedIn is a professional networking site and can be considered moderately reliable, the information is self-reported by the company.",
"url": "https://www.linkedin.com/company/cronos-esg/"
},
{
"content": {
"metadata": {
"ext_id": "8f96b537-37b3-4f08-8e67-e5310f92d6b7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-esg.be/"
},
"page_content": "Skip to content\n\n[ ](https://cronos-esg.be)\n\n__\n\n[ Our climate plan ](https://cronos-esg.be/whitepaper-the-cronos-climate-\nplan/)\n\n[ ](https://cronos-esg.be/home/)\n\n__\n\n[ Our climate plan ](https://cronos-esg.be/whitepaper-the-cronos-climate-\nplan/)\n\n#\n\n[ Our services ](https://cronos-esg.be/services/)\n\nCronos ESG supports businesses in enhancing their sustainability efforts\nthroughout the entire journey by combining diverse skills and expertise.\n\n[ Read more ](https://cronos-esg.be/about-us/)\n\n## Strategy\n\n## Our approach\n\nPhase 1: Assessment & Baseline Establishment\n\nTo align our approach with your organization, we first need to understand your\ncurrent **sustainability maturity** and **compliance status.** We will conduct\nmeetings with stakeholders to gather input and collect data on\n**Environmental, Social, and Governance (ESG) practices** . This stakeholder\nengagement, combined with a double materiality assessment (considering both\nfinancial and impact materiality), will help set **priorities.**\n\nWe will also assess regulatory compliance and establish a baseline for key\n**sustainability metrics** . Our deliverables include a **detailed baseline\nreport** and a **stakeholder mapping and engagement plan** . This phase will\nprovide a clear understanding of your current status and actionable insights,\nensuring that decisions are based on a thorough understanding of both\nfinancial and impact materiality, and better preparing you to meet\n**regulatory requirements.**\n\nPhase 2: Goal Setting & Strategic Planning\n\nIn phase 2, we will define **clear sustainability and compliance goals** and\ndevelop a **strategic plan** to achieve them. We will set **SMART goals** and\ncreate a comprehensive **sustainability strategy** with short-term, medium-\nterm, and long-term objectives.\n\nAdditionally, we will determine the necessary **resources** and assign **roles\nand responsibilities** to ensure the successful implementation of the\nstrategic sustainability plan with well-defined goals and initiatives. This\nphase will align **sustainability objectives** with the **business strategy**\nthrough clear, actionable goals.\n\nPhase 3: Implementation & Integration\n\nIn phase 3, we will **implement sustainability initiatives** and **integrate**\nthem into your core business processes. This phase includes not only various\nsustainability projects but also **updating policies and procedures.**\nAdditionally, we will provide **training programs** to build internal capacity\nfor effective sustainability management.\n\nPhase 4: Monitoring, Evaluation, Reporting & Communication\n\nIn phase 4, we will focus on **continuously monitoring progress** ,\n**evaluating outcomes** , and **adjusting strategies as needed** . We will\nestablish systems for **regular tracking of sustainability metrics** and\nconduct **periodic evaluations.** Emphasizing the importance of **feedback and\ncontinuous improvement** , this phase lays a solid foundation for your\nsustainability and compliance reports, as well as your internal and external\ncommunications.\n\nPhase 5: Continuous Improvement & Innovation\n\nIn the final phase, we will embed a **strategy for continuous improvement**\nand **innovation in sustainability practices** . Key elements include\n**regular reviews and updates** of sustainability goals, **implementing\ncontinuous improvement** processes, and **encouraging the adoption of best\npractices** .\n\nThis phase also focuses on **staying informed about emerging trends and\ntechnologies** , **positioning the organization as a leader in\nsustainability** through advocacy and sharing success stories. We will\n**foster a culture of innovation and leadership** in sustainability practices.\n\n[ Learn more ](https://cronos-esg.be/services/)\n\n## Our blog\n\n[ Blog ](https://cronos-esg.be/blog/improved-website-with-a-focus-on-\naccessibility-and-sustainability/)\n\nImproved website with a focus on accessibility and sustainability\n\nDiscover how we made our website more user-friendly and environmentally\nfriendly with a thorough accessibility and emissions scan.\n\n[ Read more ](https://cronos-esg.be/blog/improved-website-with-a-focus-on-\naccessibility-and-sustainability/)\n\n[ Case ](https://cronos-esg.be/case/3-powerful-ways-gis-can-help-combat-\nclimate-change/)\n\n3 powerful ways GIS can help combat climate change\n\nExplore 3 ways GIS can combat climate change: from improving ESG compliance to\npromoting greener cities and mitigating environmental hazards.\n\n[ Read more ](https://cronos-esg.be/case/3-powerful-ways-gis-can-help-combat-\nclimate-change/)\n\n[ Case ](https://cronos-esg.be/case/cocof-innovates-with-accessible-digital-\nplatforms/)\n\nCOCOF innovates with accessible digital platforms\n\nCOCOF partnered with Cronos Public Services to deliver WCAG-compliant websites\nthat redefine digital accessibility for the Brussels region.\n\n[ Read more ](https://cronos-esg.be/case/cocof-innovates-with-accessible-\ndigital-platforms/)\n\n[ Read more ](https://cronos-esg.be/blog/)\n\n## Let's get in touch\n\nPlease select form to show\n\nData is a cornerstone in a sustainability approach because it provides the\nfoundation for informed decision-making, performance tracking, and continuous\nimprovement.\n\n**Sam Bambust \n** CEO De Cronos Group\n\n[ ](https://cronos-esg.be/home/)\n\n * [ Follow us on ](https://www.linkedin.com/company/cronos-esg/)\n\n * [ Privacy policy ](https://cronos-esg.be/privacy-policy/)\n * [ Cookie policy ](https://cronos-esg.be/cookie-policy/)\n\n * [ Privacy policy ](https://cronos-esg.be/privacy-policy/)\n * [ Cookie policy ](https://cronos-esg.be/cookie-policy/)\n\n[ Site by ](https://www.uncoded.be/)\n\n[ ](https://cronos-esg.be/home/)\n\n[ Our climate plan ](https://cronos-esg.be/whitepaper-the-cronos-climate-\nplan/)\n\n * [ Follow us on ](https://www.linkedin.com/company/cronos-esg/)\n\n## Let's get in touch\n\n### Download our Climate plan\n\n",
"url": "https://cronos-esg.be/"
},
"reason": "This is the official website for Cronos ESG, which is part of The Cronos Group. The site provides information about the company's services and focus on bridging the gap between business and IT, aligning with the description of The Cronos Group. As an official company website, it is considered a reliable source.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' materiality assessment",
"summary": "This is the official website for Cronos ESG, which is part of The Cronos Group. The site provides information about the company's services and focus on bridging the gap between business and IT, aligning with the description of The Cronos Group. As an official company website, it is considered a reliable source.",
"url": "https://cronos-esg.be/"
},
{
"content": {
"metadata": {
"ext_id": "85c4dd58-f48d-4ef6-8222-37f5d658d8e1",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/764180/000120677422001025/mo3924701-def14a.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501332.d643bd4\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/764180/000120677422001025/mo3924701-def14a.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by The Cronos Group, providing official information about the company's governance. It is a highly reliable source.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' governance diversity inclusion",
"summary": "Official SEC filing by The Cronos Group detailing company governance.",
"url": "https://www.sec.gov/Archives/edgar/data/764180/000120677422001025/mo3924701-def14a.htm"
},
{
"content": {
"metadata": {
"ext_id": "5d8b4c28-c13f-41fe-8aa9-3fd8f5952f96",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/oRSqvfwo"
},
"page_content": "## Head of Global Information Systems\n\nInformation Systems United States United States United States United\nStates\n\n* * *\n\n[ Apply ](/cronosgroup/job/oRSqvfwo/apply)\n\n### Description\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach\u00ae, PEACE NATURALS\u00ae and Lord\nJones\u00ae. For more information about Cronos and its brands, please visit: [\nhttps://thecronosgroup.com/ ](https://thecronosgroup.com/) .\n\nAt Cronos Group, we hire talented people who thrive on solving difficult\nproblems and give them the opportunity to hone new skills and approaches. If\nyou want to play a part in shaping an innovative industry and help build a\nhistorically significant company, we want to meet you.\n\nAs the Head of Global Information Systems, you will lead the definition and\ndelivery of the Information Technology strategy and capabilities across the\nenterprise. The Head of Global Information System is responsible for Cronos\u2019s\ntechnology strategy, operational performance and digital innovation across all\noperations.\n\nThe Head of Global Information System will approach information technology\nwith an innovation agenda, a customer service mentality, a vision for the\nfuture, and a transformational mindset. They will build a long-term, consumer-\ncentric information technology (IT) strategy that supports the Company\u2019s\ngrowth within existing lines of business and regions. In addition, the Global\nHead of IS will monitor external technology changes and be a source of\ncontinuous innovation, which will effectively differentiate Cronos from the\ncompetition.\n\nWhat you\u2019ll be doing:\n\n * Drives the modernization of business systems, project development and support practices. \n * Initiator and catalyst for the process of continuous improvement, both as it relates to financial processes (e.g., reporting and analytical infrastructure) and business processes (e.g., Prospect-To-Order, Order-To-Cash, and Purchase-To-Pay). \n * Lead IS strategic and operational planning to achieve business goals by fostering innovation, prioritizing IS initiatives, driving operational excellence, and coordinating the evaluation, deployment, and management of current and future IS across the organization. \n * Establish priorities and objectives based on business goals; manage performance towards desired results. \n * Identifies opportunities for suitable and cost-effective investment in IS, including staffing, sourcing, purchasing and development; develops business case justifications and cost/benefit analyses for IS spend and initiatives. \n * Outsourcing Partner Management experience: extract and maximize output from outsourcing partners. \n * Establish data discipline and governance across all master data e.g. Customer, Vendor, Material. \n * Interact with peers, direct reports, and other employees in a manner that reflects leadership, encourages open two-way communications, and contributes to exceptional employee relations throughout the Company. \n * Ensure the technology team attracts, develops, and retains the best people and fosters an environment that motivates the team to fully realize its capabilities in achieving desired business results. \n * Cost management best practices to balance investment in technology with clear cost-benefit analysis and improved compliance/control. \n * Ensuring compliance with regulatory requirements (e.g., SOX) and internal policies. \n * Engaging third parties to assess the effectiveness of cybersecurity controls and implement mitigation strategies for any risks identified. \n\nYou\u2019ll need to have:\n\n * Bachelor or advanced degree in Computer Science or related field; or equivalent additional experience \n * 10+ years of information systems and technology administration experience with an increasing level of responsibility and scope \n * Experience scaling IS organizations through typical growth stages and a background in large-scale implementations, cloud technologies, systems development lifecycle (SDLC), business intelligence, IS governance and transformation. \n * Experience leading IT audit initiatives and collaborating with external auditors to address any findings related to IT controls. Familiarity with e-commerce, IT back end, mobile apps and APIs is a plus \n * Familiarity with SAP systems a plus \n * Managerial accounting experience with IT spend (budgeting and forecasting IT spend on quarterly, annual, and multi-year basis as well as calculating project ROI) \n * Demonstration of strong program and project management capabilities \n * Solid interpersonal and leadership skills, capable of establishing and maintaining effective relationships with executives, employees, and outside vendors. \n * A strategic thinker, problem-solver and effective project manager who is comfortable rolling up their sleeves and being hands-on. \n * A knack for identifying and tackling \u201chard problems\u201d, thinking creatively, and getting things done \n * A passion for staying current on technology and continuous improvement mentality, always working to improve processes, systems, functions, and experiences. \n * Exceptional communication skills to articulate technical possibilities and limitations of systems to non-technical colleagues. \n * Experience as a change agent in building high-performing teams in complex and changing environments with high levels of ambiguity. \n * A player and coach; capable of being an effective people leader while developing your team to operate at peak performance. \n\nAdditional Notes\n\nNOTE: Job Description is not intended to be all-inclusive. Employees may\nperform other related duties to meet the ongoing needs of the organization.\n\nWe are committed to fostering a diverse and inclusive work environment, and we\nwelcome and encourage applications from people with disabilities and people\nwith diverse backgrounds, identities, and cultures. For candidates with\ndisabilities, accommodations are available upon request in all phases of the\nselection process.\n\n[ Apply ](/cronosgroup/job/oRSqvfwo/apply) Apply Later\n\n[ Back to Current Openings ](/cronosgroup/jobs)\n\n#### Share this job\n\n[ __ LinkedIn ]() [ __ Facebook ]() __ Twitter __ Email\n\n__\n\n[ _ Powered by Jobvite _ ](https://www.jobvite.com/support/job-seeker-\nsupport/)\n\n * [ Website Terms of Use ](https://thecronosgroup.com/term_of_use.php)\n * [ Website Privacy Statement ](https://thecronosgroup.com/website_privacy_statement.php)\n * [ Cookie Policy ](https://thecronosgroup.com/cookie_policy.php)\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\nBack to Top\n\n",
"url": "https://jobs.jobvite.com/cronosgroup/job/oRSqvfwo"
},
"reason": "This is a job posting on the Cronos Group's official job board. It provides direct information about employment opportunities at the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' governance diversity inclusion",
"summary": "Job posting on The Cronos Group's official job board.",
"url": "https://jobs.jobvite.com/cronosgroup/job/oRSqvfwo"
},
{
"content": {
"metadata": {
"ext_id": "973582c5-c09e-4138-af77-e8ef0f974fb4",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://mjbizdaily.com/ceo-schmidt-retires-gorenstein-retakes-helm-of-cannabis-producer-cronos/"
},
"page_content": "Enable JavaScript and cookies to continue\n\n",
"url": "https://mjbizdaily.com/ceo-schmidt-retires-gorenstein-retakes-helm-of-cannabis-producer-cronos/"
},
"reason": "This article from MJBizDaily explicitly mentions Cronos Group and reports on leadership changes within the company. MJBizDaily is a reputable source for cannabis industry news.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' governance diversity inclusion",
"summary": "News article from MJBizDaily reporting on leadership changes at Cronos Group.",
"url": "https://mjbizdaily.com/ceo-schmidt-retires-gorenstein-retakes-helm-of-cannabis-producer-cronos/"
},
{
"content": {
"metadata": {
"ext_id": "53c111c9-210e-47cd-b8de-d15a2453ddba",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"page_content": "[ Accessibility Statement ](https://www.cision.com/about/accessibility/) Skip\nNavigation\n\n_Leading Companies from Emerging Industries Join Forces to Efficiently Produce\nHigh-Purity Cannabinoids at Scale_\n\nBOSTON and TORONTO , Sept. 4, 2018 /CNW/ - Today, [ Cronos Group\n](https://thecronosgroup.com/) Inc. (NASDAQ:CRON) (TSX: CRON ) (\" **Cronos\nGroup** \"), a geographically diversified and vertically integrated cannabis\ngroup, and [ Ginkgo Bioworks ](https://www.ginkgobioworks.com/) Inc. (\"\n**Ginkgo** \"), the organism company, announced a landmark partnership to\nproduce cultured cannabinoids. Using its platform technology for organism\ndesign and development, Ginkgo will complement Cronos Group's technologies for\nproducing a full spectrum of cannabinoids. As part of this unprecedented deal,\nCronos Group has agreed to issue a specific number of common shares in\ntranches subject to Ginkgo's achievement of certain production milestones.\n\nGinkgo Bioworks (CNW Group/Cronos Group Inc.)\n\nAs two of the leading companies in their respective industries, Cronos Group\nand Ginkgo believe that they are best-suited to unlock the potential of\ninnovation in the cannabis industry. Cronos Group brings a deep understanding\nof the plant's biological structure and function, while Ginkgo brings 10 years\nof experience designing microorganisms for the production of cultured products\nacross pharmaceuticals, agriculture, flavors, fragrances, and more.\n\nCannabinoids span a range of molecules with different properties, and ongoing\nresearch has demonstrated potential medicinal uses for indications such as\nchronic pain, nervous disorders, nausea, weight loss, and some mental\nillnesses. However, many pharmaceutically relevant cannabinoids are present\nonly at very low quantities in the cannabis plant, making them economically\nimpractical, difficult or impossible to extract at high purity and scale. The\nlandmark partnership between Cronos Group and Ginkgo will leverage the\nexpertise of both organizations to solve this challenge and make more\naccessible the benefits of cannabinoids in an economically sustainable way.\n\n\"Cronos Group is building the world's most innovative cannabinoid platform,\"\nsaid Mike Gorenstein , CEO of Cronos Group. \"The potential uses of\ncannabinoids are vast, but the key to successfully bringing cannabinoid-based\nproducts to market is in creating reliable, consistent, and scalable\nproduction of a full spectrum of cannabinoids, not just THC and CBD. We are\nthrilled to partner with Ginkgo; their biological engineering capabilities and\ndisruptive technology platform are unrivaled. Together we can revolutionize\nthe cannabis industry.\"\n\n\"Legal cannabis is a multibillion-dollar industry with no signs of slowing\ndown, but providers will need to innovate to keep up with demand for better\nproducts, including those taking advantage of rare and difficult to extract\ncannabinoids,\" said Jason Kelly , CEO and co-founder of Ginkgo Bioworks.\n\"Engineering strains of yeast that can produce these cannabinoids via\nfermentation is a perfect fit for our organism design platform and we are\nexcited to be working with Cronos Group as they lead the way to high-quality\ncannabinoid treatments.\"\n\n**Partnership Details**\n\nCronos Group's wide-ranging portfolio of cannabis products is empowered by its\ndeep expertise in plant genetics. With access to an array of varietals and a\ndiverse set of production methodologies, Cronos Group has gathered extensive\ndata on cannabinoids and their properties, ultimately learning from and using\nthe plant to generate blueprints for best-in-class, full spectrum cannabinoid\nrecipes.\n\nGinkgo's platform for engineering biology is powered by state-of-the-art\nautomation and custom-built software used to design and print DNA. With the\nworld's largest library of designed DNA sequences, Ginkgo has extensive\nexpertise in the biology of enzymes for the production of molecules used in\nindustries from flavor and fragrance to food to pharmaceuticals. By\ntransferring the DNA sequences for cannabinoid production into yeast, Ginkgo\nexpects to develop strains that produce cultured cannabinoids at high quality\nand purity in a process similar to brewing beer in a microbrewery. In addition\nto allowing for the efficient and scalable production of cannabinoids, the use\nof Ginkgo's platform is expected to unlock access to potentially medically-\nimportant and valuable cannabinoids that are present only in low quantities in\nthe plant.\n\nThe partnership between Ginkgo and Cronos Group will focus on the scalable and\nconsistent production of a wide range of cannabinoids, including THC, CBD and\na variety of other lesser known and rarer products. These cultured cannabinoid\nmolecules are identical to those extracted from the plants grown with\ntraditional methods, but are created by leveraging the power of biological\nmanufacturing via fermentation.\n\n**Partnership Transaction Terms**\n\nUnder the exclusive partnership, Ginkgo will work with Cronos Group on\nresearch and development of microorganisms capable of producing certain target\ncannabinoids in a scalable and highly efficient manner. Cronos Group will fund\ncertain R&D and foundry expenses expected to be approximately US$22 million\nsubject to the achievement of certain milestones. In addition, upon Ginkgo's\ndemonstration that the microorganisms are capable of producing the target\ncannabinoids above a minimum productivity level, Cronos Group will issue up to\napproximately 14.7 million common shares in the aggregate, in accordance with\nthe milestone allocations described below. The common shares allocated were\nbased on the 60-day VWAP for Cronos Group common stock of US$6.81 as of\nJuly 17, 2018 , when the letter of intent was executed by both parties. The\ntransaction had an aggregate value of US$100 million assuming all milestones\nare met. Tranches of these common shares will be issued once each of the\ntarget cannabinoids can be produced for less than US$1,000 per kilogram of\npure cannabinoid at a scale of greater than 200 liters as follows: THC(A),\n20%; CBD(A), 15%; CBC(A), 10%; CBG(A), 10%; THCV(A), 15%; CBGV(A), 10%;\nCBDV(A), 10%; CBCV(A), 10%.\n\nCronos Group will have the exclusive right to use and commercialize the key\npatented intellectual property related to the production of the target\ncannabinoids globally. All R&D work undertaken by Ginkgo will be conducted in\ncompliance with all U.S. federal laws regarding controlled substances and\nGinkgo is coordinating activities closely with both Federal and State\nagencies. Cronos Group intends to produce and distribute the target\ncannabinoids globally and has received confirmation that this method of\nproduction is permitted under the _Cannabis Act_ ( Canada ) \u2013 the legal\nframework that will regulate cannabis in Canada .\n\nThis landmark deal will bring the power of biological manufacturing to the\ncannabis industry, allowing for cannabinoid production at large scale and with\ngreater efficiency than is currently possible with traditional growing and\nextracting methods.\n\n**Analyst/Investor Conference Call and Webcast** \nCronos Group and Ginkgo Bioworks will host a conference call and live webcast\non Tuesday, September 4, 2018 at 8:30 a.m. EST to discuss the landmark\npartnership. Instruction for the conference call are provided below:\n\n_Live Webcast:_ [ https://thecronosgroup.com/investor-relations\n](https://thecronosgroup.com/investor-relations) \n_Toll-free dial-in number:_ (888) 231-8191 _ \nInternational dial-in number: _ (647) 427-7450 \n_Conference ID:_ 9537928\n\nAdditionally, an audio replay of the conference call will be available two\nhours after the call's completion and until 11:59 p.m. EST on September 18,\n2018 . Instructions for the audio replay are provided below:\n\n_Toll-free dial-in number:_ (855) 859-2056 \n_Passcode:_ 9537928\n\n**About Ginkgo Bioworks:** \nGinkgo Bioworks is the organism company, using the power of biology to build\nsustainable products in food, pharma, manufacturing, and more. Using\nsophisticated software and state of the art automation,\n\nGinkgo's powerful platform for genetic engineering is making biology easier to\nengineer, enabling new products to be renewably manufactured with biology. For\nmore information, visit [ www.ginkgobioworks.com\n](http://www.ginkgobioworks.com/) .\n\n**About Cronos Group: \n** Cronos Group is a globally diversified and vertically integrated cannabis\ncompany with a presence across four continents. Cronos Group operates two\nwholly-owned Canadian licensed producers regulated under Health Canada's\nAccess to Cannabis for Medical Purposes Regulations: Peace Naturals Project\nInc., which was the first non-incumbent medical cannabis license granted by\nHealth Canada, and Original BC Ltd., which is based in the Okanagan Valley,\nBritish Columbia . Cronos Group has multiple international production and\ndistribution platforms across five continents. Cronos Group intends to\ncontinue to rapidly expand its global footprint as it focuses on building an\ninternational iconic brand portfolio and develop disruptive intellectual\nproperty. Cronos Group is committed to building industry leading companies\nthat transform the perception of cannabis and responsibly elevate the consumer\nexperience.\n\n**Forward-looking statements \n** This news release contains \"forward-looking information\" and \"forward-\nlooking statements\" within the meaning of applicable Canadian and U.S.\nsecurities laws. All information contained herein that is not clearly\nhistorical in nature may constitute forward-looking information. In some\ncases, forward-looking statements can be identified by words or phrases such\nas \"may\", \"will\", \"expect\", \"plan\", \"anticipate\", \"intend\", \"potential\",\n\"estimate\", \"believe\" or the negative of these terms, or other similar\nexpressions intended to identify forward-looking statements. Some of the\nforward-looking statements contained in this press release include Cronos\nGroup's expectations regarding the potential success of, and the costs and\nbenefits associated with, its partnership with Ginkgo, expectations about the\ndevelopment of the cannabis industry and potential demand for cultured\ncannabinoids, expectations of the regulatory framework for cultured\ncannabinoids as well as the Cronos Group's intention to continue to rapidly\nexpand its global footprint, build an international iconic brand portfolio and\ndevelop disruptive intellectual property. Forward-looking statements are\nnecessarily based upon a number of estimates and assumptions that, while\nconsidered reasonable by management, are inherently subject to significant\nbusiness, economic and competitive risks, uncertainties and contingencies that\nmay cause actual financial results, performance or achievements to be\nmaterially different from the estimated future results, performance or\nachievements expressed or implied by those forward-looking statements and the\nforward-looking statements are not guarantees of future performance. A\ndiscussion of some of the material risks applicable to Cronos Group can be\nfound in its current MD&A and Annual Information Form, both of which have been\nfiled on SEDAR and can be accessed at [ www.sedar.com ](http://www.sedar.com/)\n. The forward-looking information included in this news release is made as of\nthe date of this news release and, except as required by law, Cronos Group\ndisclaims any obligation to update or revise any forward-looking statements.\nReaders are cautioned not to put undue reliance on these forward-looking\nstatements.\n\nSOURCE Cronos Group Inc.\n\nThe Cronos Group, Anna Shlimak, Investor Relations, Tel: (416) 504-0004, [\n[email protected] ](/cdn-cgi/l/email-protection) ; Ginkgo Bioworks, Grace\nEmery, Media relations, 347-230-6640, [ [email protected] ](/cdn-cgi/l/email-\nprotection)\n\n#### Related Links\n\n[ thecronosgroup.com ](http://thecronosgroup.com \"Link to\nhttp://thecronosgroup.com\") \n\n### Modal title\n\n## Organization Profile\n\n### [ Cronos Group Inc. ](/news/cronos-group-inc/)\n\n## Related Organization(s)\n\n### [ Ginkgo Bioworks ](/news/ginkgo-bioworks/)\n\n## Contact Cision\n\n * [ 866-245-2317 ](tel:866-245-2317) from 8 AM - 10 PM ET \n\n * [ Become a Client ](/contact-us/ \"Become a Client\")\n * [ Request a Demo ](/request-a-demo/ \" Request a Demo \")\n * [ Editorial Bureaus ](/contact-us/editorial-bureaus/ \" Editorial Bureaus \")\n * [ Partnerships ](/contact-us/partnerships/ \" Partnerships \")\n * [ General Enquiries ](/general-inquiries/ \" General Enquiries \")\n * [ Media ](/contact-us/media/ \" Media\")\n\n[ ](https://www.linkedin.com/company/cisioncanada/ \"LinkedIn\")\n\n## Products\n\n * [ Cision Communications Cloud\u00ae ](https://www.newswire.ca/products/communications-cloud \"Cision Communications Cloud\u00ae\")\n * [ Media Monitoring ](https://www.cision.ca/monitoring-analytics/online/ \"Media Monitoring\")\n * [ Content Distribution ](https://www.newswire.ca/products/content-distribution \"Content Distribution\")\n * [ Multimedia Distribution ](https://www.newswire.ca/products/multimedia-distribution-options \"Multimedia Distribution\")\n * [ Measurement & Analytics ](https://www.newswire.ca/products/Media-Measurement--Analytics \"Measurement & Analytics\")\n * [ Investor Relations ](https://www.newswire.ca/products/investor-relations \"Investor Relations\")\n\n## About\n\n * [ About Cision Canada ](http://cnw.en.mediaroom.com/aboutus/ \"About Cision Canada\")\n * [ About Cision ](http://www.cision.ca/ \"About Cision\")\n * [ Media Partners ](https://www.newswire.ca/contact-us/media-partners.html \"Media Partners\")\n * [ Careers ](https://www.cision.ca/careers/ \"Careers\")\n * [ Accessibility Statement ](https://www.cision.ca/about/accessibility/ \"Accessibility Statement\")\n * \n\n * [ APAC ](https://www.prnewswire.com/apac/ \"APAC\")\n * [ APAC - Simplified Chinese ](https://www.prnasia.com/ \"APAC - Simplified Chinese\")\n * [ APAC - Traditional Chinese ](https://www.prnewswire.com/apac/zh/ \"APAC - Traditional Chinese\")\n * [ Brazil ](https://prnewswire.com.br/ \"Brazil\")\n * [ Canada ](https://www.newswire.ca/en/ \"Canada\")\n * [ Czech ](https://www.prnewswire.com/cs/tiskova-zprava/ \"Czech\")\n * [ Denmark ](https://www.prnewswire.com/da/pressemeddelelser/ \"Denmark\")\n * [ Finland ](https://www.prnewswire.com/fi/lehdistotiedotteet/ \"Finland\")\n * [ France ](https://www.prnewswire.com/fr/communiques-de-presse/ \"France\")\n * [ Germany ](https://www.prnewswire.com/de/pressemitteilungen/ \"Germany\")\n * [ India ](https://www.prnewswire.com/in/news-releases/ \"India\")\n * [ Indonesia ](https://www.prnewswire.com/id/ \"Indonesia\")\n * [ Israel ](https://www.prnewswire.com/il/news-releases/ \"Israel\")\n * [ Japan ](https://www.prnewswire.com/jp/ \"Japan\")\n * [ Korea ](https://www.prnewswire.com/kr/ \"Korea\")\n * [ Mexico ](https://prnewswire.com.mx/ \"Mexico\")\n * [ Middle East ](https://www.prnewswire.com/ae/news-releases/ \"Middle East\")\n * [ Middle East - Arabic ](https://www.prnewswire.com/ae/ar/news-releases/ \"Middle East - Arabic\")\n * [ Netherlands ](https://www.prnewswire.com/nl/persberichten/ \"Netherlands\")\n * [ Norway ](https://www.prnewswire.com/no/pressemeldinger/ \"Norway\")\n * [ Poland ](https://www.prnewswire.com/pl/komunikat-prasowy/ \"Poland\")\n * [ Portugal ](https://www.prnewswire.com/pt/comunicados-de-imprensa/ \"Portugal\")\n * [ Russia ](https://www.prnewswire.com/ru/press-releases/ \"Russia\")\n * [ Slovakia ](https://www.prnewswire.com/sk/tlacova-sprava/ \"Slovakia\")\n * [ Spain ](https://www.prnewswire.com/es/comunicados-de-prensa/ \"Spain\")\n * [ Sweden ](https://www.prnewswire.com/sv/pressmeddelanden/ \"Sweden\")\n * [ United States ](https://www.prnewswire.com/ \"United States\")\n * [ Vietnam ](https://www.prnewswire.com/vn/ \"Vietnam\")\n\n## My Services\n\n * [ All News Releases ](/news-releases/news-releases-list/ \"All News Releases\")\n * [ Online Member Centre \n](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre<br />\n\n\")\n\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud\u00ae ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\u00ae\")\n * [ my CNW \n](/mycnw/login/ \"my CNW<br />\n\n\")\n\nDo not sell or share my personal information:\n\n * Submit via [ [email protected] ](/cdn-cgi/l/email-protection)\n * Call Privacy toll-free: 877-297-8921 \n\n## [ Contact Cision ](/contact-us)\n\n## [ Products ](/products/overview)\n\n## [ About ](http://cnw.en.mediaroom.com/aboutus/)\n\n[ My Services __ ]()\n\n * [ All News Releases ](/news-releases/ \"All News Releases\")\n * [ Online Member Centre ](https://cnwportal.prnewswire.com/Login.aspx \"Online Member Centre\")\n * [ Next Gen Communications Cloud ](https://app2.cision.com/ \"Next Gen Communications Cloud\")\n * [ Cision Communications Cloud ](https://app.cision.com/#/login?lang=en-ca \"Cision Communications Cloud\")\n * [ my CNW ](/mycnw/login/ \"my CNW\")\n\n[ __ 877-269-7890 \nfrom 8 AM - 10 PM ET ](tel:877-269-7890 \"Contact Us\")\n\n * [ Terms of Use ](http://cnw.en.mediaroom.com/privacy-terms-of-use \"Terms of Use\")\n * [ Information Security Policy ](/cision-information-security-policy/ \"Information Security Policy\")\n * [ Site Map ](/sitemap/ \"Site Map\")\n * [ Cookie Settings ](/cookie-settings/ \"Cookie Settings\")\n * [ Accessibility Statement ](https://www.cision.com/about/accessibility/ \"Accessibility Statement\")\n\nCopyright \u00a9 2025 CNW Group Ltd. All Rights Reserved. A Cision company.\n\n",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
"reason": "This is a news release published by The Cronos Group announcing a partnership. It is a primary source of information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' governance diversity inclusion",
"summary": "News release from The Cronos Group announcing a partnership.",
"url": "https://www.newswire.ca/news-releases/cronos-group-and-ginkgo-bioworks-announce-a-landmark-partnership-to-produce-cultured-cannabinoids-692376551.html"
},
{
"content": {
"metadata": {
"ext_id": "3e6010bf-ffc1-4985-934c-4bcd8841c2f2",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://be.linkedin.com/company/cronos-esg"
},
"page_content": "Skip to main content\n\n# CRONOS ESG\n\n## IT Services and IT Consulting\n\n### Kontich, Flemish Region 583 followers\n\n#### Building a stronger, greener business together. End-to-end guidance and\nsupport for sustainable business practices.\n\n[ Follow\n](https://www.linkedin.com/login?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&fromSignIn=true&trk=top-card_top-card-secondary-button-top-card-secondary-\ncta)\n\n * [ Report this company ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=top-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=COMPANY&_f=guest-reporting)\n\n## About us\n\nCRONOS ESG, part of De Cronos Groep, supports businesses in enhancing their\nsustainability efforts throughout the entire journey by combining diverse\nskills and expertise. Our Cronos ESG Community members are a diverse group of\nexperts dedicated to Environmental, Social, and Governance (ESG) practices.\nYou can benefit from tailored expertise and specialized skills, a\ncollaborative approach, continuous learning, and innovative solutions that\ndrive sustainability leadership.\n\nWebsite\n\n [ www.cronos-esg.be/ ](https://www.linkedin.com/redir/redirect?url=http%3A%2F%2Fwww%2Ecronos-esg%2Ebe%2F&urlhash=wxOw&trk=about_website)\n\nExternal link for CRONOS ESG\n\nIndustry\n\n IT Services and IT Consulting \n\nCompany size\n\n 5,001-10,000 employees \n\nHeadquarters\n\n Kontich, Flemish Region \n\nType\n\n Privately Held \n\nFounded\n\n 2024 \n\nSpecialties\n\n ESG, Sustainability, Maturity Assessments, Communication, Governance, Data Services, Footprint analysis, Technology, Microsoft, SAP , Accesibility, Community engagement, Project Management, Reporting, CSRD, ESRS, GRI, EU Taxonomy, EPC, Green Building, Energy Audit, Sustainability Manager, Tool selection & implementation, Sustainable HR, Diversity & Inclusion, Data reporting, Compliancy, and Regulatory \n\n## Locations\n\n * Primary \n\nVeldkant 33A\n\nKontich, Flemish Region 2550, BE\n\n[ Get directions\n](https://www.bing.com/maps?where=Veldkant+33A+Kontich+2550+Flemish+Region+BE&trk=org-\nlocations_url)\n\n * Gent, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Gent+BE&trk=org-\nlocations_url)\n\n * Antwerp, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Antwerp+BE&trk=org-\nlocations_url)\n\n * Brussels, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Brussels+BE&trk=org-\nlocations_url)\n\n * Hasselt, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Hasselt+BE&trk=org-\nlocations_url)\n\n * Kortrijk, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Kortrijk+BE&trk=org-\nlocations_url)\n\n * Leuven, BE \n\n[ Get directions ](https://www.bing.com/maps?where=Leuven+BE&trk=org-\nlocations_url)\n\n## Updates\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-experience-day-activity-7313478544972558339-OEjS)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n3w\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udde6\ud835\uddf5\ud835\uddee\ud835\uddff\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf6\ud835\uddfb\ud835\ude00\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01\ud835\ude00 \ud835\uddee\ud835\ude01 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddd8\ud835\ude05\ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\uddf6\ud835\uddf2\ud835\uddfb\ud835\uddf0\ud835\uddf2 \ud835\uddd7\ud835\uddee\ud835\ude06! \ud83c\udf0d Last week, Cronos ESG\ntook the stage at [ De Cronos Groep\n](https://be.linkedin.com/company/cronos?trk=organization_guest_main-feed-\ncard-text) \u2019s Sustainability Experience Day! \ud83c\udfa4\u267b\ufe0f We showcased how the ESG\nCommunity within Cronos brings together expertise, leverages data as a\nfoundation, and harnesses De Cronos Groep\u2019s ecosystem to drive real\nsustainability impact. Through targeted strategies and strong communication,\nwe amplify change and bring actionable solutions to the market. \ud83d\ude80 \ud83d\udca1 And that\u2019s\nnot all! Other Cronos ESG experts led inspiring sessions on Digital Product\nPassports (DPP), Sustainable HR, Change & Impact, and more. A big thank you to\n[ Jocelijn Geurts ](https://be.linkedin.com/in/jocelijngeurts-\nduurzaamondernemen?trk=organization_guest_main-feed-card-text) and MVO Cronos\nfor the invitation! \ud83d\ude4c [ #Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #Event\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fevent&trk=organization_guest_main-\nfeed-card-text) [ #Leadership\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fleadership&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n` ` ` `\n\n[ 14\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` ` [ 1 Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-comments)\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_worldovershootday-sustainablebusiness-activity-7310948792034357250-fp8x)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n4w\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d Today is \ud835\uddea\ud835\uddfc\ud835\uddff\ud835\uddf9\ud835\uddf1 \ud835\udde2\ud835\ude03\ud835\uddf2\ud835\uddff\ud835\ude00\ud835\uddf5\ud835\uddfc\ud835\uddfc\ud835\ude01 \ud835\uddd7\ud835\uddee\ud835\ude06 \u2014a stark reminder that our current way of doing\nbusiness is exceeding the planet\u2019s limits. But what if companies became the\ndriving force behind real change? Sustainability isn\u2019t just an ethical choice;\nit\u2019s a business imperative. By making operations more sustainable,\norganizations can reduce costs, increase efficiency, and build long-term\nresilience. At Cronos ESG, we support businesses in: \u2714\ufe0f Embedding\nsustainability into decision-making \u2714\ufe0f Developing measurable ESG strategies \u2714\ufe0f\nTurning ambitions into tangible action \u2714\ufe0f And so much more \ud83d\udca1 Let\u2019s move the\ndate back together. Learn how we can help you: [ https://cronos-esg.be/\n](https://cronos-esg.be/?trk=organization_guest_main-feed-card-text) [\n#WorldOvershootDay\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fworldovershootday&trk=organization_guest_main-\nfeed-card-text) [ #SustainableBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainablebusiness&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 2\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_greenbusiness-sustainabilityleadership-activity-7310223945033482241-nZN7)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83d\ude80 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddf6\ud835\ude00 \ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddf2 \ud835\ude01\ud835\uddf5\ud835\uddee\ud835\uddfb \ud835\uddee \ud835\ude01\ud835\uddff\ud835\uddf2\ud835\uddfb\ud835\uddf1\u2014\ud835\uddf6\ud835\ude01\u2019\ud835\ude00 \ud835\uddee \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf2\ud835\ude01\ud835\uddf6\ud835\ude01\ud835\uddf6\ud835\ude03\ud835\uddf2 \ud835\uddee\ud835\uddf1\ud835\ude03\ud835\uddee\ud835\uddfb\ud835\ude01\ud835\uddee\ud835\uddf4\ud835\uddf2. Businesses\nthat prioritize sustainability don\u2019t just reduce their environmental impact;\nthey also cut costs, improve efficiency, and enhance brand loyalty. But not\nevery company has the in-house expertise to build and execute a strong ESG\nstrategy. That\u2019s why we created Sustainability Manager as a Service (SMaaS)\u2014to\nprovide businesses with the expert leadership they need, on a flexible basis.\n\ud835\uddea\ud835\uddf5\ud835\ude06 \ud835\uddf0\ud835\uddf5\ud835\uddfc\ud835\uddfc\ud835\ude00\ud835\uddf2 \ud835\udde6\ud835\udde0\ud835\uddee\ud835\uddee\ud835\udde6? \u2714 No need for a full-time hire\u2014cost-effective & scalable \u2714\nAccess to top-tier sustainability expertise \u2714 Clear, actionable strategies\nthat deliver measurable results \u2714 Support for compliance, reporting, and\nstakeholder engagement \ud83d\udca1 Let\u2019s make sustainability work for your\nbusiness\u2014reach out now: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#GreenBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgreenbusiness&trk=organization_guest_main-\nfeed-card-text) [ #SustainabilityLeadership\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainabilityleadership&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_gs1forum2025-sustainablebusiness-circulareconomy-activity-7308415035825897474-LAH6)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d Our community members [ Tracked ](https://be.linkedin.com/company/tracked-\nbe?trk=organization_guest_main-feed-card-text) and [ Zeticon\n](https://be.linkedin.com/company/zeticon?trk=organization_guest_main-feed-\ncard-text) are attending the [ GS1 Belgium & Luxembourg\n](https://be.linkedin.com/company/gs1-belgium&luxembourg?trk=organization_guest_main-\nfeed-card-text) Forum 2025 today! This annual event brings together\nprofessionals from various industries, and this year\u2019s theme, \ud835\udde5\ud835\uddf2\ud835\uddf1\ud835\uddf2\ud835\uddf3\ud835\uddf6\ud835\uddfb\ud835\uddf6\ud835\uddfb\ud835\uddf4\n\ud835\uddd5\ud835\ude02\ud835\ude00\ud835\uddf6\ud835\uddfb\ud835\uddf2\ud835\ude00\ud835\ude00 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddee \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\udde7\ud835\uddfc\ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddff\ud835\uddfc\ud835\ude04, aligns perfectly with our shared vision\nof a more sustainable future. \ud83d\udd0d Visit their booth and discover how product\ntransparency and sustainability goals can be optimised by combining the power\nof Intelligent Information Management (IIM) and the Digital Product Passport\n(DPP). The DPP, a legal requirement under the European Green Deal, ensures\ntraceability and authenticity of your products. It also contains detailed\ninformation on reuse and recycling, driving circularity. \ud83d\udca1 Speak with our\nexperts about their insights and experience with the DPP, and learn how to\nprepare your organisation efficiently for a sustainable future! [\n#GS1Forum2025\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgs1forum2025&trk=organization_guest_main-\nfeed-card-text) [ #SustainableBusiness\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainablebusiness&trk=organization_guest_main-\nfeed-card-text) [ #CircularEconomy\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcirculareconomy&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 11\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-sustainableit-esg-activity-7307687297473282049-zmAw)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udddc\ud835\ude00 \ud835\ude06\ud835\uddfc\ud835\ude02\ud835\uddff \ud835\udddc\ud835\udde7 \ud835\uddf1\ud835\uddf2\ud835\uddfd\ud835\uddee\ud835\uddff\ud835\ude01\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 \ud835\uddf1\ud835\uddff\ud835\uddf6\ud835\ude03\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddf3\ud835\uddfc\ud835\uddff\ud835\ude04\ud835\uddee\ud835\uddff\ud835\uddf1? \ud83d\udcbb\ud83c\udf31 Our \ud835\udddc\ud835\udde7 \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06\n\ud835\udde0\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\uddd4\ud835\ude00\ud835\ude00\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 evaluates your IT department\u2019s sustainability maturity\nacross Environmental, Social, and Governance (ESG) aspects. Through a\ncomprehensive qualitative survey, we identify strengths and areas for\nimprovement, providing immediate implementation ideas. Based on the insights\ngathered, we develop tailored recommendations and an action plan to help your\nIT team advance its sustainability efforts. Ready to take your IT\nsustainability strategy to the next level? \ud83d\ude80 Ready to improve your IT\nsustainability? Reach out to us today: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #SustainableIT\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainableit&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_webinar-epcnr-esg-activity-7305875413430398976-Qirk)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83d\udd34 \ud835\udff4\ud835\udfec% \ud835\uddfc\ud835\uddf3 \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddee\ud835\uddfb\ud835\uddf6\ud835\uddf2\ud835\ude00 \ud835\uddee\ud835\uddff\ud835\uddf2 \ud835\udde1\ud835\udde2\ud835\udde7 \ud835\uddff\ud835\uddf2\ud835\uddee\ud835\uddf1\ud835\ude06 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddd8\ud835\udde3\ud835\uddd6 \ud835\udde1\ud835\udde5. \ud835\uddd4\ud835\uddff\ud835\uddf2 \ud835\ude06\ud835\uddfc\ud835\ude02? Starting January 1,\n2025, all non-residential buildings over 1,000 m\u00b2 must have an EPC NR\ncertificate\u2014no exceptions. Smaller buildings? Your deadline is January 1,\n2026. \u2757 Failure to comply could result in fines from VEKA. Not sure where to\nstart? We've got you covered! Join the free webinar of [ EPBeter\n](https://be.linkedin.com/company/epbeter?trk=organization_guest_main-feed-\ncard-text) , member of our Cronos ESG Community, to get clear, practical\ninsights on what EPC NR means for your business and how to prepare in time. \ud83d\udcc5\nTuesday, March 25 \ud83d\udd50 13:00 \ud83d\udd17 Register now: [ https://lnkd.in/e2TA2pPx\n](https://lnkd.in/e2TA2pPx?trk=organization_guest_main-feed-card-text) [\n#webinar\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fwebinar&trk=organization_guest_main-\nfeed-card-text) [ #EPCNR\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fepcnr&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 5\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` ` [ 1 Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-comments)\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_esg-sustainability-impact-activity-7305150569046822912-vz5Y)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo Edited\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0e \ud835\udde2\ud835\uddfa\ud835\uddfb\ud835\uddf6\ud835\uddef\ud835\ude02\ud835\ude00 \ud835\uddee\ud835\uddfb\ud835\uddf1 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddf3\ud835\ude02\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2 \ud835\uddfc\ud835\uddf3 \ud835\uddd8\ud835\udde6\ud835\uddda: \ud835\ude04\ud835\uddf5\ud835\uddee\ud835\ude01\u2019\ud835\ude00 \ud835\uddfb\ud835\uddf2\ud835\ude05\ud835\ude01? The EU's \ud835\udde2\ud835\udde0\ud835\udde1\ud835\udddc\ud835\uddd5\ud835\udde8\ud835\udde6 \ud835\uddf1\ud835\uddf6\ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\ude01\ud835\uddf6\ud835\ude03\ud835\uddf2 eases\nreporting requirements, but does this mean ESG is losing relevance? Absolutely\nnot\u2014it\u2019s shifting from obligation to opportunity. \ud83d\udd0e \ud835\uddde\ud835\uddf2\ud835\ude06 \ud835\uddf0\ud835\uddf5\ud835\uddee\ud835\uddfb\ud835\uddf4\ud835\uddf2\ud835\ude00: \u2022 CSRD aligns\nwith CSDDD, meaning new obligations will apply only to companies with 1,000+\nemployees and \u20ac50M+ revenue. \u2022 The second wave of CSRD reporting has been\npostponed by two years. \u2022 CSDDD: due diligence requirements have been\nrestricted, and civil liability has been removed. \u2022 Double Materiality remains\nessential \u2013 companies must still report on both financial and impact\nmateriality. \u2022 The EU Taxonomy has evolved into VSME (Voluntary Sustainability\nReporting Standard). \ud83d\udca1 \ud835\uddd8\ud835\udde6\ud835\uddda \ud835\uddf6\ud835\ude00\ud835\uddfb\u2019\ud835\ude01 \ud835\uddf7\ud835\ude02\ud835\ude00\ud835\ude01 \ud835\uddf0\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf9\ud835\uddf6\ud835\uddee\ud835\uddfb\ud835\uddf0\ud835\uddf2\u2014\ud835\uddf6\ud835\ude01\u2019\ud835\ude00 \ud835\uddee \ud835\ude00\ud835\ude01\ud835\uddff\ud835\uddee\ud835\ude01\ud835\uddf2\ud835\uddf4\ud835\uddf6\ud835\uddf0 \ud835\uddee\ud835\uddf1\ud835\ude03\ud835\uddee\ud835\uddfb\ud835\ude01\ud835\uddee\ud835\uddf4\ud835\uddf2.\n\ud835\udddb\ud835\uddf2\ud835\uddff\ud835\uddf2\u2019\ud835\ude00 \ud835\ude04\ud835\uddf5\ud835\ude06: \ud83d\udc49 Transparency builds trust. A strong ESG foundation enhances\nbrand reputation, customer loyalty, and market position. \ud83d\udc49 Sustainable\nbusinesses perform better. They are more resilient to market shifts and\nconsistently achieve superior long-term financial results. \ud83d\udc49 A proactive ESG\nstrategy drives innovation. It positions you ahead of regulatory changes,\nattracts top talent, and makes you more appealing to investors. What\u2019s your\ntake? Let\u2019s connect and explore how we can support your ESG strategy! [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #Impact\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fimpact&trk=organization_guest_main-\nfeed-card-text) [ #CSDDD\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcsddd&trk=organization_guest_main-\nfeed-card-text) [ #CSRD\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcsrd&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_sustainability-maturityassessment-esg-activity-7302632392656113664-cacO)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud835\udddb\ud835\uddfc\ud835\ude04 \ud835\uddfa\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2 \ud835\uddf6\ud835\ude00 \ud835\ude06\ud835\uddfc\ud835\ude02\ud835\uddff \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\ude00\ud835\ude01\ud835\uddff\ud835\uddee\ud835\ude01\ud835\uddf2\ud835\uddf4\ud835\ude06? \ud83c\udf3f Our \ud835\udde6\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf6\ud835\uddf9\ud835\uddf6\ud835\ude01\ud835\ude06 \ud835\udde0\ud835\uddee\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf6\ud835\ude01\ud835\ude06\n\ud835\uddd4\ud835\ude00\ud835\ude00\ud835\uddf2\ud835\ude00\ud835\ude00\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01 provides a clear picture of where your organization stands in its\nsustainability journey. We evaluate key areas such as energy use, waste\nmanagement, and social responsibility, benchmarking your performance against\nindustry standards. By identifying strengths and areas for improvement, we\ndeliver \ud835\uddee\ud835\uddf0\ud835\ude01\ud835\uddf6\ud835\uddfc\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\uddf6\ud835\uddfb\ud835\ude00\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01\ud835\ude00 that help you strategically plan and prioritize\nsustainability initiatives. Ready to take the next step toward a more\nsustainable future? Let\u2019s assess your progress together. \ud83d\udce9 Contact us to learn\nmore: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) [\n#Sustainability\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fsustainability&trk=organization_guest_main-\nfeed-card-text) [ #MaturityAssessment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fmaturityassessment&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_community-futureproof-esg-activity-7300801953373061120-lJdk)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\nSustainability is more than a goal\u2014it\u2019s a continuous challenge that requires\n\ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\uddff\ud835\uddf6\ud835\uddf4\ud835\uddf5\ud835\ude01 \ud835\uddf2\ud835\ude05\ud835\uddfd\ud835\uddf2\ud835\uddff\ud835\ude01\ud835\uddf6\ud835\ude00\ud835\uddf2 \ud83d\udd0d No single perspective has all the answers, which is why\ncollaboration is essential. At Cronos ESG, we unite experts across different\nEnvironmental, Social and Governance fields to tackle challenges from multiple\nangles. By combining knowledge, we don\u2019t just adapt\u2014we drive lasting impact. \ud83d\udca1\nCurious how our expertise can support your sustainability goals and strategy?\nLet\u2019s talk: [ https://lnkd.in/eE3cd7Ga\n](https://lnkd.in/eE3cd7Ga?trk=organization_guest_main-feed-card-text) \ud83d\udce9 [\n#Community\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcommunity&trk=organization_guest_main-\nfeed-card-text) [ #FutureProof\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Ffutureproof&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 4\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n * [ ](https://www.linkedin.com/posts/cronos-esg_gis-climatechange-esg-activity-7300077140639707136-dSl9)\n\n[ ](https://be.linkedin.com/company/cronos-esg?trk=organization_guest_main-\nfeed-card_feed-actor-image)\n\n[ CRONOS ESG ](https://be.linkedin.com/company/cronos-\nesg?trk=organization_guest_main-feed-card_feed-actor-name)\n\n583 followers\n\n1mo\n\n * [ Report this post ](https://www.linkedin.com/uas/login?fromSignIn=true&session_redirect=https%3A%2F%2Fbe.linkedin.com%2Fcompany%2Fcronos-esg&trk=organization_guest_main-feed-card_ellipsis-menu-semaphore-sign-in-redirect&guestReportContentType=POST&_f=guest-reporting)\n\n\ud83c\udf0d \ud835\uddd6\ud835\uddee\ud835\uddfb \ud835\uddda\ud835\udddc\ud835\udde6 \ud835\ude01\ud835\uddf2\ud835\uddf0\ud835\uddf5\ud835\uddfb\ud835\uddfc\ud835\uddf9\ud835\uddfc\ud835\uddf4\ud835\ude06 \ud835\uddf1\ud835\uddff\ud835\uddf6\ud835\ude03\ud835\uddf2 \ud835\uddee \ud835\uddfa\ud835\uddfc\ud835\uddff\ud835\uddf2 \ud835\ude00\ud835\ude02\ud835\ude00\ud835\ude01\ud835\uddee\ud835\uddf6\ud835\uddfb\ud835\uddee\ud835\uddef\ud835\uddf9\ud835\uddf2 \ud835\uddf3\ud835\ude02\ud835\ude01\ud835\ude02\ud835\uddff\ud835\uddf2? \ud83c\udf31 Geographical\nInformation Systems (GIS) are changing the game for businesses and\nmunicipalities, enabling data-driven decisions for climate action and\nsustainability. Here are three keyways GIS is making an impact: \ud83d\udcca \ud835\uddd8\ud835\udde6\ud835\uddda\n\ud835\udde5\ud835\uddf2\ud835\uddfd\ud835\uddfc\ud835\uddff\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\uddd6\ud835\udde6\ud835\udde5\ud835\uddd7 \ud835\uddd6\ud835\uddfc\ud835\uddfa\ud835\uddfd\ud835\uddf9\ud835\uddf6\ud835\uddee\ud835\uddfb\ud835\uddf0\ud835\uddf2 \u2013 GIS visualizes crucial environmental data,\nlike CO\u2082 emissions and biodiversity, helping organizations comply with CSRD\nand ESRS regulations. \ud83c\udf33 \ud835\uddd6\ud835\uddff\ud835\uddf2\ud835\uddee\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddda\ud835\uddff\ud835\uddf2\ud835\uddf2\ud835\uddfb\ud835\uddf2\ud835\uddff \ud835\uddd6\ud835\uddf6\ud835\ude01\ud835\uddf6\ud835\uddf2\ud835\ude00 \ud835\ude04\ud835\uddf6\ud835\ude01\ud835\uddf5 \ud835\ude01\ud835\uddf5\ud835\uddf2 \ud835\udfef-\ud835\udfef\ud835\udfec-\ud835\udfef\ud835\udfec\ud835\udfec \ud835\udde5\ud835\ude02\ud835\uddf9\ud835\uddf2 \u2013 GIS\nplays a vital role in planning and tracking urban green spaces, promoting\nhealthier communities. \u26a0\ufe0f \ud835\udde5\ud835\uddf6\ud835\ude00\ud835\uddf8 \ud835\uddd9\ud835\uddfc\ud835\uddff\ud835\uddf2\ud835\uddf0\ud835\uddee\ud835\ude00\ud835\ude01\ud835\uddf6\ud835\uddfb\ud835\uddf4 \ud835\uddf3\ud835\uddfc\ud835\uddff \ud835\udde6\ud835\uddfa\ud835\uddee\ud835\uddff\ud835\ude01\ud835\uddf2\ud835\uddff \ud835\udddc\ud835\uddfb\ud835\ude03\ud835\uddf2\ud835\ude00\ud835\ude01\ud835\uddfa\ud835\uddf2\ud835\uddfb\ud835\ude01\ud835\ude00 \u2013 GIS helps\nmap environmental risks, such as flooding or pollution, empowering businesses\nto minimize risk exposure. \ud83d\udd17 Explore how GIS technology is supporting\nsustainable strategies. Read the full case here: [ https://lnkd.in/eUMBKXRW\n](https://lnkd.in/eUMBKXRW?trk=organization_guest_main-feed-card-text) We\nappreciate [ GeoWeave\n](https://be.linkedin.com/company/geoweave?trk=organization_guest_main-feed-\ncard-text) for teaming up with us on this valuable case! \ud83d\ude4c [ #GIS\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fgis&trk=organization_guest_main-\nfeed-card-text) [ #ClimateChange\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fclimatechange&trk=organization_guest_main-\nfeed-card-text) [ #ESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fesg&trk=organization_guest_main-\nfeed-card-text) [ #DeCronosGroep\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fdecronosgroep&trk=organization_guest_main-\nfeed-card-text) [ #CronosESG\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww.linkedin.com%2Ffeed%2Fhashtag%2Fcronosesg&trk=organization_guest_main-\nfeed-card-text)\n\n * ` ` ` `\n\n[ 8\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_social-actions-reactions) ` ` ` ` `\n` ` ` ` ` ` ` ` `\n\n[ Like\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_like-cta) [ Comment\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_comment-cta) [ Share\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_main-feed-card_share-cta)\n\n` `\n\n` ` ` ` ` `\n\n## Join now to see what you are missing\n\n * Find people you know at CRONOS ESG \n * Browse recommended jobs for you \n * View all updates, news, and articles \n\n[ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=public_biz_promo-join)\n\n## Similar pages\n\n * ### [ De Cronos Groep Information Technology & Services ](https://be.linkedin.com/company/cronos?trk=similar-pages)\n * ### [ Oxygen Group IT Services and IT Consulting ](https://be.linkedin.com/company/this-is-oxygen-group?trk=similar-pages)\n * ### [ Cronos Business Services IT Services and IT Consulting ](https://be.linkedin.com/company/cronos-business-services?trk=similar-pages)\n * ### [ openlab suisse Business Consulting and Services ](https://ch.linkedin.com/company/openlab-suisse?trk=similar-pages)\n * ### [ ARK - Marketing Intelligence As A Service Marketing Services Antwerp, Flemish Region ](https://be.linkedin.com/company/ark-revenue-growth-by-performance-marketing?trk=similar-pages)\n * ### [ Pygmaline Law Practice ](https://www.linkedin.com/company/pygmaline?trk=similar-pages)\n * ### [ Collon: collectief ondernemers Business Consulting and Services ](https://www.linkedin.com/company/collon-collectiefondernemers?trk=similar-pages)\n * ### [ Factivity Public Relations and Communications Services Edegem, Belgi\u00eb ](https://be.linkedin.com/company/factivity-agency?trk=similar-pages)\n * ### [ ESG-simplified Business Consulting and Services ](https://be.linkedin.com/company/esgsimplified?trk=similar-pages)\n * ### [ Pro-Active Advertising Services Antwerpen, Antwerpen ](https://be.linkedin.com/company/pro-active-data-driven-agency?trk=similar-pages)\n\n * LinkedIn \u00a9 2025 \n * [ About ](https://about.linkedin.com?trk=d_org_guest_company_overview_footer-about)\n * [ Accessibility ](https://www.linkedin.com/accessibility?trk=d_org_guest_company_overview_footer-accessibility)\n * [ User Agreement ](https://www.linkedin.com/legal/user-agreement?trk=d_org_guest_company_overview_footer-user-agreement)\n * [ Privacy Policy ](https://www.linkedin.com/legal/privacy-policy?trk=d_org_guest_company_overview_footer-privacy-policy)\n * [ Your California Privacy Choices ](https://www.linkedin.com/legal/california-privacy-disclosure?trk=d_org_guest_company_overview_footer-california-privacy-rights-act)\n * [ Cookie Policy ](https://www.linkedin.com/legal/cookie-policy?trk=d_org_guest_company_overview_footer-cookie-policy)\n * [ Copyright Policy ](https://www.linkedin.com/legal/copyright-policy?trk=d_org_guest_company_overview_footer-copyright-policy)\n * [ Brand Policy ](https://brand.linkedin.com/policies?trk=d_org_guest_company_overview_footer-brand-policy)\n * [ Guest Controls ](https://www.linkedin.com/psettings/guest-controls?trk=d_org_guest_company_overview_footer-guest-controls)\n * [ Community Guidelines ](https://www.linkedin.com/legal/professional-community-policies?trk=d_org_guest_company_overview_footer-community-guide)\n * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * * \n\n` ` ` ` ` ` ` ` ` ` ` `\n\n## Sign in to see who you already know at CRONOS ESG\n\n## Welcome back\n\n` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` ` `\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=organization_guest_contextual-sign-in-\nmodal_sign-in-modal_auth-button_user-agreement) , [ Privacy Policy\n](/legal/privacy-policy?trk=organization_guest_contextual-sign-in-modal_sign-\nin-modal_auth-button_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=organization_guest_contextual-sign-in-modal_sign-in-modal_auth-\nbutton_cookie-policy) .\n\nNew to LinkedIn? [ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_contextual-sign-in-modal_sign-in-modal_join-link)\n\nor\n\nNew to LinkedIn? [ Join now\n](https://www.linkedin.com/signup?session_redirect=https%3A%2F%2Fwww%2Elinkedin%2Ecom%2Fcompany%2Fcronos-\nesg&trk=organization_guest_contextual-sign-in-modal_join-link)\n\nBy clicking Continue to join or sign in, you agree to LinkedIn\u2019s [ User\nAgreement ](/legal/user-agreement?trk=linkedin-tc_auth-button_user-agreement)\n, [ Privacy Policy ](/legal/privacy-policy?trk=linkedin-tc_auth-\nbutton_privacy-policy) , and [ Cookie Policy ](/legal/cookie-\npolicy?trk=linkedin-tc_auth-button_cookie-policy) .\n\n` ` ` `\n\n",
"url": "https://be.linkedin.com/company/cronos-esg"
},
"reason": "This is the official LinkedIn page for Cronos Group, providing information about the company and its employees. It is a reliable source for company information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' governance diversity inclusion",
"summary": "Official LinkedIn page for Cronos Group.",
"url": "https://be.linkedin.com/company/cronos-esg"
},
{
"content": {
"metadata": {
"ext_id": "542dd86c-3861-4b36-b0b9-c5bde7bc570d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://contracts.justia.com/companies/cronos-group-inc-10036/contract/211944/"
},
"page_content": "# Letter Agreement, dated as of November 26, 2021, between Hortican\n\nEX-10.1 2 a211126xiumingshumresign.htm EX-10.1 a211126xiumingshumresign\n\n2 the Company for Cause at any time, or (ii) extended by mutual agreement\nbetween you and the Company (such period, the \u201cConsulting Period\u201d). (b) During\nthe Consulting Period, you shall be available for consultation as requested by\nthe Company and Cronos Group and will dedicate up to twenty (20) hours per\nweek during regular business hours where you are located to providing such\nservices. (c) During the Consulting Period, you shall be paid a consulting fee\nequal to $31,250 per calendar month (pro-rated for any partial calendar\nmonths) (the \u201cConsulting Fee\u201d). You shall issue invoices to Cronos Group\nwithin seven (7) days following the end of each calendar month during the\nConsulting Period. The Consulting Fees shall be payable within thirty (30)\ndays after receipt of each such invoice. You shall not be eligible to\nparticipate in any Company benefit programs during the Consulting Period. (d)\nIn performing the consulting services pursuant to this Letter Agreement during\nthe Consulting Period you will be acting and shall act at all times as an\nindependent contractor only and not as an employee, agent, partner or joint\nventurer of or with the Company, Cronos Group or any of their affiliates. You\nshall be solely responsible for the payment of all federal, local and foreign\ntaxes that are required by applicable laws or regulations to be paid with\nrespect to the Consulting Fee. 3. Short-Term and Long-Term Incentives.\nContingent on your execution no earlier than and within five (5) days after\nthe Resignation Date of the Release and Waiver of Claims attached hereto as\nExhibit A (the \u201cRelease\u201d), and subject to: (i) Section 4 of this Letter\nAgreement, (ii) your compliance with the terms and conditions of this Letter\nAgreement, including without limitation providing the consulting services\ndescribed in Section 2, and the post- employment obligations set forth in\nArticle 7 of the Employment Agreement, including without limitation, as\nrelates to non-competition, non-solicitation, confidentiality, intellectual\nproperty, and return of property, in consideration of amounts in excess of the\nminimum entitlements under applicable law: (a) the Company shall, in full\nsatisfaction of its obligations to you, provide you with an annual bonus in\nrespect of Cronos Group\u2019s 2021 fiscal year in the amount of CAD $343,750,\nwhich is based on target performance and prorated based on the number of\ncomplete months of such fiscal year up to the Resignation Date, on the same\ndate on which awards under Cronos Group\u2019s Discretionary Short-Term Incentive\nCompensation Program in respect of the 2021 fiscal year are provided to other\nCronos Group named executive officers; and (b) Cronos Group shall, in full\nsatisfaction of its obligations to you, continue the vesting and\nexercisability of any outstanding and unvested equity awards held by you as of\nthe Resignation Date in accordance with the terms and conditions of the\napplicable award agreements as though you continued to provide services to the\nCompany or Cronos Group until the original vesting dates. Any options\n(including vested and unvested as of the Resignation Date) must be exercised\nby no later than the date on which each such option\u2019s original exercise term\nexpires, subject to the terms and conditions of the applicable option award\nplan. For the avoidance of doubt, except as set forth in this Section 3(b),\nyour entitlements in respect of any equity-based awards shall be governed by\nthe terms and conditions of the applicable equity award plans and the\napplicable award agreement(s).\n\n* * *\n\n3 You understand and agree that the entitlements under this Section 3 are\nprovided in satisfaction of your entitlements in respect of the cessation of\nyour employment under the Employment Agreement, any employee benefit plan\nsponsored by the Company or any of its affiliates, applicable law (including\nthe common law) or otherwise. You shall not be entitled to any other payments\nor benefits under the Employment Agreement, except as specifically provided\nherein. 4. Clawback Policy. You understand and agree that any cash, equity or\nequity-based compensation paid or provided pursuant to Section 3 of this\nLetter Agreement is subject to the terms and conditions of Cronos Group\u2019s\nClawback Policy in effect from time to time, and may be subject to a\nrequirement that such compensation be repaid to the Company after it has been\ndistributed to you. 5. Restrictive Covenants; Return of Materials. You hereby\naffirm that the restrictive covenants and other post-employment obligations\ncontained in the Employment Agreement are and shall remain in effect and\nenforceable in accordance with the terms of the Employment Agreement, and you\nhereby reaffirm the existence and reasonableness of those obligations\n(including, without limitation, any non-disclosure obligations, and any non-\ncompetition, and non-solicitation restrictions). 6. Cooperation with\nLitigation, Investigations and Regulatory Proceedings. You agree, upon the\nCompany\u2019s request, to cooperate with the Company in any investigation,\nlitigation, arbitration or regulatory proceeding regarding events that\noccurred during your tenure with the Company and/or its affiliates, including\nby making yourself reasonably available to consult with the Company\u2019s counsel.\nThe Company shall reimburse you for reasonable out-of-pocket expenses that you\nincur in extending such cooperation, so long as you provide satisfactory\ndocumentation of the expenses. Cronos Group hereby affirms that the Indemnity\nAgreement between you and Cronos Group shall remain in effect in accordance\nwith its terms following the Effective Date. 7. Deductions and Withholdings.\nYou understand and agree that the Company shall make such deductions and\nwithholdings from your remuneration and any other payments or benefits\nprovided to you pursuant to this Letter Agreement as may be required by law.\n8. Amendments. This Letter Agreement may only be amended by written agreement\nexecuted by the Company, Cronos Group and you. 9. Independent Legal Advice.\nYou acknowledge that you have been encouraged to obtain independent legal\nadvice regarding the execution of this Letter Agreement, and that you have\neither obtained such advice or voluntarily chosen not to do so, and hereby\nwaive any objections or claims you may make resulting from any failure on your\npart to obtain such advice.\n\n* * *\n\n4 10. Expenses. All costs, fees and expenses incurred in connection with this\nLetter Agreement and the transactions contemplated by this Letter Agreement\nincluding all costs, fees and expenses of representatives of the parties\nhereto, shall be paid by the party incurring such cost, fee or expense.\nNotwithstanding anything to the contrary in the foregoing sentence of this\nSection 10, you shall be reimbursed for reasonable expenses actually incurred\nfor annual tax return advisory services in Canada and Singapore for the 2021\ntax year, provided such expenses are incurred and receipts are submitted on or\nprior to December 31, 2022, in an amount not to exceed CAD $5,000 per tax\nyear. You shall provide appropriate receipts or other vouchers to Cronos Group\nin support of such professional services before receiving reimbursement, and\nsuch reimbursements shall be paid within thirty (30) days after providing\nappropriate receipts. 11. Counterparts. This Letter Agreement may be executed\nin one or more counterparts, each of which when executed shall be deemed to be\nan original but all of which taken together shall constitute one and the same\nagreement. Delivery of an executed counterpart of a signature page to this\nLetter Agreement by electronic transmission, including in portable document\nformat (.pdf), shall be deemed as effective as delivery of an original\nexecuted counterpart of this Letter Agreement. [Signature Page Follows]\n\n* * *\n\n[Signature Page to Resignation Letter Agreement] If you agree that this Letter\nAgreement correctly memorializes our understandings, please sign and return\nthis Letter Agreement, which shall become a binding agreement as of the\nEffective Date. Sincerely, HORTICAN INC. By: /s/ Kurt Schmidt Name: Kurt\nSchmidt Title: President and Chief Executive Officer CRONOS GROUP INC. By: /s/\nKurt Schmidt Name: Kurt Schmidt Title: President and Chief Executive Officer\nAccepted and Agreed: /s/ Xiuming Shum Xiuming Shum Date: November 26, 2021\n\n* * *\n\nExhibit A FULL AND FINAL RELEASE AND WAIVER OF CLAIMS GENERAL RELEASE AND\nWAIVER OF CLAIMS (this \u201cRelease\u201d), by the undersigned (the \u201cReleasor\u201d) in\nfavor of Hortican Inc., Cronos Group Inc., and their respective subsidiaries\n(collectively, the \u201cEmployer\u201d), affiliates, stockholders, beneficial owners of\nits stock, its current or former officers, directors, employees, members,\nattorneys and agents, and their predecessors, successors and assigns,\nindividually and in their official capacities (the \u201cReleasees\u201d). WHEREAS,\nReleasor has been employed as EVP, Legal & Regulatory Affairs of Cronos Group\nInc.; WHEREAS, Releasor resigned from Releasor\u2019s employment with Employer\neffective as of November 30, 2021 (the \u201cEffective Date\u201d); and WHEREAS,\nEmployer has offered to provide Releasor with certain payments, compensation\nand benefits pursuant to a letter agreement dated as of November 26, 2021\n(hereinafter called the \u201cLetter Agreement\u201d), that are conditioned on the\neffectiveness of this Release. NOW, THEREFORE, in consideration of such\npayments, compensation and benefits and the covenants and agreements set forth\nin the Letter Agreement, the parties hereto, intending to be legally bound,\nagree as follows: 1. GENERAL RELEASE. Releasor knowingly and voluntarily\nwaives, terminates, cancels, releases and discharges forever the Releasees\nfrom any and all suits, actions, causes of action, claims, allegations,\nrights, obligations, liabilities, demands, entitlements or charges\n(collectively, \u201cClaims\u201d) that Releasor (or Releasor\u2019s heirs, executors,\nadministrators, successors and assigns) has or may have, whether known,\nunknown or unforeseen, vested or contingent, by reason of any matter, cause or\nthing occurring at any time before and including the date of this Release,\nincluding all claims arising under or in connection with Releasor\u2019s\nemployment, or cessation or resignation of employment with the Employer,\nincluding, without limitation: Claims under United States federal, state or\nlocal law and the national, provincial or local law of any foreign country\n(statutory or decisional), including without limitation Canada, for wrongful,\nabusive, constructive or unlawful discharge or dismissal, for breach of any\ncontract, or for discrimination based upon race, color, ethnicity, sex, age,\nnational origin, religion, disability, sexual orientation, or any other\nunlawful criterion or circumstance, including rights or Claims under the Age\nDiscrimination in Employment Act of 1967, the Older Workers Benefit Protection\nAct of 1990 (\u201cOWBPA\u201d), violations of the Equal Pay Act, Title VII of the Civil\nRights Act of 1964, the Civil Rights Act of 1991, the Americans with\nDisabilities Act of 1991, the Employee Retirement Income Security Act of 1974\n(\u201cERISA\u201d), the Fair Labor Standards Act, the Worker Adjustment Retraining and\nNotification Act, the Family Medical Leave Act, the Ontario Employment\nStandards Act, 2000, the Ontario Human Rights Code, the Ontario Pay Equity\nAct, the Ontario Occupational Health and Safety Act, and the Ontario Workplace\nSafety and Insurance Act, 1997, including all amendments to any of the\naforementioned acts; and violations of any other federal, provincial, state,\nor municipal fair employment statutes or laws, including, without limitation,\nviolations of any other law, rule, regulation, or ordinance pertaining to\nemployment, wages, compensation, hours worked, or any other Claims for\ncompensation or bonuses, whether or not paid under any compensation plan or\narrangement; breach of contract; tort and other common law Claims (including,\nwithout limitation, any common law Claims to notice of termination, pay in\nlieu of notice of termination, termination pay or severance pay); defamation;\nlibel; slander; impairment of economic opportunity defamation; sexual\nharassment; retaliation; attorneys\u2019 fees; emotional distress; intentional\ninfliction of emotional distress; assault; battery, pain and suffering; and\npunitive or exemplary\n\n* * *\n\n2 damages (the \u201cReleased Matters\u201d). In addition, in consideration of the\nprovisions of this Release, Releasor further agrees to waive any and all\nrights under the laws of any jurisdiction in the United States, Canada, or any\nother country that limit a general release to those Claims that are known or\nsuspected to exist in Releasor\u2019s favor as of the Release Effective Date (as\ndefined below). Releasor further represents and acknowledges that the\nReleasees have complied with the Human Rights Code (Ontario) in respect of the\nReleasor\u2019s employment and the cessation of such employment. Thus,\nnotwithstanding the purpose of implementing a full and complete release and\ndischarge of the claims released by this Release, Releasor expressly\nacknowledges that this Release is intended to include in its effect, without\nlimitation, all claims which Releasor does not know or suspect to exist in her\nfavor at the time of execution hereof arising out of or relating in any way to\nthe subject matter of the actions referred to herein above and that this\nRelease contemplates the extinguishment of any such claims. 2. SURVIVING\nCLAIMS. Notwithstanding anything herein to the contrary, this Release shall\nnot: (i) release any Claims for payment of cash or equity amounts payable\nunder the Letter Agreement; (ii) release any Claim or right Releasor may have\npursuant to indemnification, advancement, defense, or reimbursement pursuant\nto any applicable D&O policies, any similar insurance policies, applicable law\nor otherwise; (iii) release any Claim that may not lawfully be waived in a\nprivate agreement between the parties; or (iv) limit Releasor\u2019s rights under\napplicable law to provide truthful information to any governmental entity or\nto file a charge with or participate in an investigation conducted by any\ngovernmental entity. Notwithstanding the foregoing, Releasor agrees to waive\nReleasor\u2019s right to recover monetary damages in connection with any charge,\ncomplaint or lawsuit filed by Releasor or anyone else on Releasor\u2019s behalf\n(whether involving a governmental entity or not); provided that Releasor is\nnot agreeing to waive, and this Release shall not be read as requiring\nReleasor to waive, any right Releasor may have to receive an award for\ninformation provided to any governmental entity. 3. ADDITIONAL\nREPRESENTATIONS. Releasor further represents and warrants that Releasor has\nnot filed any civil action, suit, arbitration, administrative charge, or legal\nproceeding against any Releasees nor, has Releasor assigned, pledged, or\nhypothecated as of the Release Effective Date any Claim to any person and no\nother person has an interest in the Claims that she is releasing. 4.\nACKNOWLEDGMENT BY RELEASOR. Releasor acknowledges and agrees that Releasor has\nread this Release in its entirety and that this Release is a general release\nof all known and unknown Claims. Releasor further acknowledges and agrees\nthat: (i) this Release does not release, waive or discharge any rights or\nClaims that may arise for actions or omissions after the Release Effective\nDate;\n\n* * *\n\n3 (ii) Releasor is entering into this Release and releasing, waiving and\ndischarging rights or Claims only in exchange for consideration which she is\nnot already entitled to receive; (iii) Releasor has been advised, and is being\nadvised by the Release, to consult with an attorney before executing this\nRelease; and (iv) Releasor is aware that this Release shall become effective\non the date of execution of this Release (the \u201cRelease Effective Date\u201d). 5.\nNON-DISPARAGEMENT. Releasor agrees not to speak or act in a manner that would\nreasonably be expected to disparage or defame or damage the goodwill of\nEmployer or its Affiliates, or the business or personal reputations of any of\nits officers, directors, partners, agents, employees, clients or suppliers,\nand further agrees not to engage in any other depreciating conduct or\ncommunications with respect to Employer or its Affiliates including, without\nlimitation, on social media. 6. GOVERNING LAW. This Release shall be governed\nby and construed in accordance with the laws of the Province of Ontario and\nthe laws of Canada applicable in the Province of Ontario. 7. SEVERABILITY. If\nany provision of this Release should be declared to be unenforceable by any\nadministrative agency or court of law, then the remainder of the Release shall\nremain in full force and effect. 8. CAPTIONS; SECTION HEADINGS. Captions and\nsection headings used herein are for convenience only and are not a part of\nthis Release and shall not be used in construing it. 9. COUNTERPARTS;\nFACSIMILE SIGNATURES. This Release may be executed in any number of\ncounterparts, each of which when so executed and delivered shall be deemed an\noriginal instrument without the production of any other counterpart. Any\nsignature on this Release, delivered by either party by photographic,\nfacsimile or PDF shall be deemed to be an original signature thereto.\n\n* * *\n\n4 IN WITNESS WHEREOF I have hereunder set my hand this 26th day of November,\n2021. SIGNED AND DELIVERED in the presence of: _______________________________\nWitness Signature _______________________________ Print Name of Witness\n_______________________________ Address of Witness\n____________________________________________ XIUMING SHUM\n\n* * *\n\nJustia Legal Resources\n\n[ Find a Lawyer ](https://www.justia.com/lawyers)\n\n * [ Bankruptcy Lawyers ](https://www.justia.com/lawyers/bankruptcy)\n * [ Business Lawyers ](https://www.justia.com/lawyers/business-law)\n * [ Criminal Lawyers ](https://www.justia.com/lawyers/criminal-law)\n * [ Employment Lawyers ](https://www.justia.com/lawyers/employment-law)\n * [ Estate Planning Lawyers ](https://www.justia.com/lawyers/estate-planning)\n * [ Family Lawyers ](https://www.justia.com/lawyers/family-law)\n * [ Personal Injury Lawyers ](https://www.justia.com/lawyers/personal-injury)\n * [ More... ](https://www.justia.com/lawyers)\n\n[ Individuals ](https://www.justia.com/individuals/)\n\n * [ Bankruptcy ](https://www.justia.com/bankruptcy/)\n * [ Criminal ](https://www.justia.com/criminal/)\n * [ Divorce ](https://www.justia.com/family/divorce/)\n * [ DUI ](https://www.justia.com/criminal/drunk-driving-dui-dwi/)\n * [ Estate Planning ](https://www.justia.com/estate-planning/)\n * [ Family Law ](https://www.justia.com/family/)\n * [ Personal Injury ](https://www.justia.com/injury/)\n * [ More... ](https://www.justia.com/individuals/)\n\n[ Business ](https://www.justia.com/business/)\n\n * [ Business Formation ](https://www.justia.com/business-operations/starting-your-own-business/)\n * [ Business Operations ](https://www.justia.com/business-operations/)\n * [ Employment ](https://www.justia.com/employment/)\n * [ Intellectual Property ](https://www.justia.com/intellectual-property/)\n * [ International Trade ](https://www.justia.com/international-law/international-trade-law/)\n * [ Real Estate ](https://www.justia.com/business-operations/commercial-real-estate-the-law/)\n * [ Tax Law ](https://www.justia.com/tax/)\n * [ More... ](https://www.justia.com/business/)\n\n[ Law Schools ](https://www.justia.com/law-schools/)\n\n * [ Dictionary ](https://dictionary.justia.com/)\n * [ Admissions ](https://www.justia.com/law-students/)\n * [ Financial Aid ](https://www.justia.com/law-students/)\n * [ Course Outlines ](https://www.justia.com/law-schools/outlines/)\n * [ Law Journals ](https://www.justia.com/law-schools/)\n * [ Blogs ](https://blawgsearch.justia.com/blogs/categories/law-student)\n * [ Employment ](https://www.justia.jobs/jobs/summer-associate-legal-internship/)\n * [ More... ](https://www.justia.com/law-schools/)\n\n[ U.S. Federal Law ](https://law.justia.com/us/)\n\n * [ U.S. Constitution ](https://law.justia.com/constitution/us/)\n * [ U.S. Code ](https://law.justia.com/codes/us)\n * [ Regulations ](https://regulations.justia.com/)\n * [ Supreme Court ](https://supreme.justia.com/)\n * [ Circuit Courts ](https://law.justia.com/cases/federal/appellate-courts/)\n * [ District Courts ](https://law.justia.com/cases/federal/district-courts/)\n * [ Dockets & Filings ](https://dockets.justia.com/)\n * [ More... ](https://law.justia.com/us/)\n\n[ U.S. State Law ](https://law.justia.com/us-states/)\n\n * [ State Constitutions ](https://law.justia.com/us-states/)\n * [ State Codes ](https://law.justia.com/codes/)\n * [ State Case Law ](https://law.justia.com/cases/)\n * [ California ](https://law.justia.com/california/)\n * [ Florida ](https://law.justia.com/florida/)\n * [ New York ](https://law.justia.com/new-york/)\n * [ Texas ](https://law.justia.com/texas/)\n * [ More... ](https://law.justia.com/us-states/)\n\n[ Other Databases ](https://www.justia.com/)\n\n * [ Legal Jobs ](https://www.justia.jobs/)\n * [ Legal Blogs ](https://blawgsearch.justia.com/)\n * [ Business Forms ](https://contracts.justia.com/)\n * [ Product Recalls ](https://recalls.justia.com/)\n * [ Patents ](https://patents.justia.com/)\n * [ Trademarks ](https://trademarks.justia.com/)\n * [ Countries ](https://www.justia.com/countries/)\n * [ More... ](https://www.justia.com/)\n\n[ Marketing Solutions ](https://www.justia.com/marketing/)\n\n * [ Justia Connect Membership ](https://www.justia.com/marketing/connect/)\n * [ Justia Lawyer Directory ](https://www.justia.com/marketing/lawyer-directory/)\n * [ Justia Premium Placements ](https://www.justia.com/marketing/lawyer-directory/#premium-placements)\n * [ Justia Elevate (SEO, Websites) ](https://www.justia.com/marketing/elevate/)\n * [ Justia Amplify (PPC, GBP) ](https://www.justia.com/marketing/amplify/)\n * [ Justia Onward Blog ](https://onward.justia.com/)\n * [ Testimonials ](https://www.justia.com/marketing/testimonials/)\n * [ More... ](https://www.justia.com/marketing/)\n\n[ ](https://www.facebook.com/justia \"Facebook\") [\n](https://twitter.com/justiacom \"Twitter\") [\n](https://www.linkedin.com/company/justia \"LinkedIn\") [\n](https://www.youtube.com/justia \"YouTube\") [\n](https://lawyers.justia.com/organization/justia-inc-16302 \"Justia Lawyer\nDirectory\") \u00a9 2025 [ Justia ](https://www.justia.com/) [ Justia Connect\n](https://connect.justia.com/) [ Legal Portal ](https://www.justia.com/) [\nCompany ](https://company.justia.com/) [ Help ](https://support.justia.com/) [\nTerms of Service ](https://www.justia.com/terms-of-service/) [ Privacy Policy\n](https://www.justia.com/privacy-policy/) [ Marketing Solutions\n](https://www.justia.com/marketing/)\n\n",
"url": "https://contracts.justia.com/companies/cronos-group-inc-10036/contract/211944/"
},
"reason": "This page from Justia provides legal contract information for Cronos Group Inc., offering factual data with high reliability.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' social impact human rights",
"summary": "This page from Justia provides legal contract information for Cronos Group Inc., offering factual data with high reliability.",
"url": "https://contracts.justia.com/companies/cronos-group-inc-10036/contract/211944/"
},
{
"content": {
"metadata": {
"ext_id": "38ff98f8-75d1-4cdf-a1f0-469b1c2f662e",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501334.d644d54\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"reason": "This is a filing from the U.S. Securities and Exchange Commission (SEC) related to The Cronos Group, providing highly reliable and official information.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' social impact human rights",
"summary": "This is a filing from the U.S. Securities and Exchange Commission (SEC) related to The Cronos Group, providing highly reliable and official information.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
{
"content": {
"metadata": {
"ext_id": "beb4888d-2f0e-4486-beac-8fb9d402613a",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://transformdrugs.org/blog/preventing-corporate-capture-of-emerging-cannabis-markets"
},
"page_content": "This website uses cookies to ensure you get the best experience on our\nwebsite. [ Learn more ](https://transformdrugs.org/privacy)\n\nAccept Decline\n\n21st July 2021\n\n****This is an edited extract from t** **he newly updated 3rd edition of 'How\nto Regulate Cannabis: A Practical Guide'! You can purchase the[ hard copy for\nonly \u00a315 ](https://transformdrugs.ecwid.com/How-to-Regulate-Cannabis-A-\nPractical-Guide-3rd-Edition-p30685876) or [ access online\n](https://transformdrugs.org/publications/how-to-regulate-cannabis-3rd-ed) for\nfree. ** ** \n\nWe have previously outlined key aims of cannabis policy, including the\nprotection of public health, promotion of social justice and equity, and\nreduction of drug-related crime. As discussed throughout this book, cannabis\npolicy making should be evidence based; policymakers should monitor, evaluate\nperformance against, and improve outcomes in relation to these identified key\naims. Cannabis policy that adopts such an approach, while seeking to promote\nsocial justice and protect public health, should naturally guard against\nexcessive corporate influence \u2014 which will generally, if not inevitably,\npreference profit maximisation over public health or social justice, and is\nonly concerned with externalities where profits are threatened.\n\nThe concept of \u2018corporate capture\u2019 refers to the means by which corporate\nentities pursue profit and power by \u2018exerting undue influence over domestic\nand international decision-makers and public institutions\u2019. [1] Such\n\u2018corporate capture\u2019 may weaken regulatory powers, as well as 'undermine the\nrealization of human rights and the environment by exerting undue influence\nover domestic and international decision-makers and public institutions' more\ngenerally. [2] The mechanisms by which such influence is exerted can\ninclude: overt and behind the scenes and \u2018soft\u2019 lobbying (including provision\nof hospitality); direct and indirect funding of politicians or political\nparties; influencing provision of expertise through funding of think tanks,\ncivil society organisations and academia; membership of government committees\nor task forces; and \u2018revolving doors\u2019 movement of staff between corporate and\ngovernment posts.\n\nGuarding against excessive influence in policy making necessitates\nconstraining corporate power more generally, to prevent the emergence of\ncorporate monopolies or market dominance by a few large actors. The history of\nboth alcohol and tobacco regulation illustrate how difficult this can be.\nStarting from scratch, as would be the case in many jurisdictions for\ncannabis, offers an opportunity to learn from the lessons in other regulated\ndrug sectors, as well as emerging experiences in cannabis markets, explored\nbelow.\n\nIt may, however, already be too late to \u2018start from scratch\u2019, or at least to\nstart _completely_ from scratch . Legal regulation in Canada has already led\nto the establishment of several multinational cannabis producers valued in\nmultiple billions of dollars. While the overwhelming majority of non-medical\nmarket space is concentrated in North America, the similarity between medical\nand non-medical products means that Canadian market actors in particular have\nbeen able to seamlessly shift attention to, and obtain a stake in, medical\nmarkets elsewhere. The existence of truly multinational corporations also\nmeans that powerful entities are already waiting in the wings to capture\nemerging non-medical market space as it develops. Relatedly, the emergence of\nmedical markets in a number of jurisdictions means that market dynamics\nfavouring larger, more established businesses are already evident \u2014 given that\nmany of these medical producers and retailers will inevitably seek to expand\nto serve the non-medical market once it is legalised.\n\nThis may not, therefore, be a complete blank slate. However, the first steps\nof legal regulation remain a vital opportunity to set goals and parameters,\nestablishing the controls necessary to protect against corporate capture from\nthe outset \u2014 through initial legislation and regulations. This includes the\nadoption of equitable licensing policies and social equity programmes (see the\nchapter here for more detailed discussion).\n\nThis discussion assumes that some level of corporate involvement in the market\nis permitted. However, as made clear in section 1 of this book, state monopoly\ncontrol over elements of the market remains a viable and important option \u2014\nand one that would, by removing the involvement of corporate actors,\nthoroughly deal with concerns over corporate capture (at least in those\nmonopolised elements of the market). For this, and other reasons, state\nmonopolies over parts or all of the market (or other regulatory models with\nincreased government control, like the Borland model) should be given serious\nconsideration, and are recommended, at least as a strategy for the\ncommencement of the legal market while new norms are established.\n\n### Expanding beyond a medical cannabis market\n\nThe \u2018blank slate\u2019 offered by legal regulation can be muddied by existing\nmedical cannabis markets. For jurisdictions with existing medical markets that\nwish to promote equitable market access, there is an inevitably unequal\nplaying field, given some businesses are already well established, licensed\nand experienced at producing or retailing cannabis products. New actors\nlooking to break into the market will face a strong competitive disadvantage,\npotentially requiring intervention to re-level this playing field. This is a\nkey tenet of promoting \u2018equity\u2019 and ensuring a diverse market.\n\nMost US states that have legalised non-medical cannabis have done so with pre-\nexisting medical markets in place. Since legal regulation creates new\nadministrative burdens, some states have implemented strategies which either\ndirectly or indirectly favour existing medical businesses. Such strategies\nsimplify the administrative process; however they also create significant\nbarriers to diverse participation in the market, and limit access for local\nsmall businesses, who may well represent the local communities more closely\nthan the larger operators.\n\nColorado\u2019s initial regulatory model, for example, indirectly preferenced\nexisting medical actors by requiring that retailers produced at least 70% of\ncannabis that they sold. This requirement was pushed for by existing medical\nbusinesses as it was already in force to regulate medical cannabis sales,\nmeaning these businesses had already achieved compliance with this regulatory\nhurdle, potentially prohibitive for smaller market actors. Indeed the\nrequirement had the effect of delaying market access for new businesses, which\nhad to develop capacity to overcome this hurdle.\n\nLegalising states in the US have also pursued direct preferencing of existing\nmedical businesses in initial licensing procedures. In Illinois, an \u2018early\napplication\u2019 scheme for non-medical licences was implemented for established\nmedical cannabis businesses in January 2020 \u2014 albeit for application fees of\n$30,000 plus 3% of the organisation\u2019s annual sales revenue. [3] In Michigan,\nthe Marijuana Regulatory Agency made it a requirement for a number of its\nlicence types that primary applicants already possess a medical cannabis\noperating licence. This included all licences for retailing and processing\ncannabis, as well as the majority of cultivation licence types. Michigan also\nestablished equivalent licence types between medical and non-medical cannabis\nregulations, and allowed medical businesses to transfer 50% of their product\nfor non-medical sales to streamline the transition. [4]\n\nThere is clearly some merit to preferential treatment from an administrative\nperspective. In some states, such as Michigan, this approach allowed non-\nmedical sales to begin relatively quickly once licence applications opened.\nBut, unless social justice and equity were key goals in medical licensing\nundertaken beforehand, the favouring of existing licence holders is unlikely\nto promote these outcomes. This is likely to be a bigger problem where medical\nmarkets are more established, have existed for longer, or are larger in size.\nSimilarly, larger, well-established medical markets may lead to other\nlicensing challenges; the long-established nature of Californian medical\nmarket actors has been linked to an enduring \u2018grey\u2019 market \u2014 whereby\nrelatively light-touch state regulation or tolerance policies meant medical\nprovision often acted as a retail proxy for non-medical consumers. In this\ncontext the aim of legal supply chains to \u2018capture the market\u2019 has proved\nchallenging even after licensed non-medical sales were able to begin. Where\nestablished \u2018grey\u2019 markets already exist, licensing procedures are almost\nretroactive in nature; sales have already been tolerated for long periods of\ntime, but now market actors are required to engage with often complex\nlicensing procedures \u2014 with little incentive other than the sudden threat of\nenforcement \u2014 to perform the same activities.\n\nAs cannabis markets develop worldwide, many large cannabis companies are\nseeking to establish themselves in existing medical markets, speculating that\nfuture legal regulation may offer lucrative opportunities for those first\nthrough the door. [5] Experiences in the US suggest that this may be a\nworthwhile strategy from a business perspective. From a regulatory\nperspective, however, these experiences highlight the need to pursue strong\nand effective licensing policies from the outset. Allowing established players\nto entrench and corner these markets, especially ahead of full legalisation,\nrisks negating social equity measures later on. \n\n### Experiences from Canada\n\nAs touched on above, there is a long and well-documented history of powerful\nalcohol and tobacco industry actors deploying legal, PR and lobbying resources\nto undermine efforts to restrict or regulate their activities, and seeking to\nundermine research evidence that supports stricter regulation. Any regime of\nregulated drug markets has to be designed to mitigate this risk, and be robust\nenough to resist the intense pressure that powerful commercial players are\nable to exert. Indeed, many of the largest alcohol and tobacco companies are\nseeking to become key players in future cannabis markets. This should be\nresisted, with regulatory measures in place to prevent or limit their\ninvolvement.\n\nThe experiences of Canada are instructive for a number of reasons. Firstly,\nCanada \u2014 with a population of nearly 40 million \u2014 was the largest nationwide\ncannabis market at the time of its inception; while Uruguay regulated cannabis\nbeforehand, it has one tenth the population size. Federal illegality in the US\n(although presently being challenged through the MORE Act) means that, despite\nthe existence of multi-state operators, cannabis is effectively managed in a\nseries of internal markets, with import and sale between states remaining\nillegal. Secondly, it is Canadian businesses more than any other that\npresently dominate international cannabis markets. Finally, it is clear that\nCanadian regulation did not do enough to guard against corporate capture from\nthe outset, or maximise the opportunity to \u2018start from scratch\u2019 with a new\nmarket commodity \u2014 in part, perhaps, because so many actors already operated\nin the existing medical market \u2014 and that this has led to the concentration of\nmarket share (and, accordingly, power) among a select few actors. [6]\n\nSteve Rolles\n\n_**Background** _ [7]\n\nThe emergence of the Canadian cannabis non-medical market in 2018 contributed\nto the so-called \u2018green rush\u2019 among stock market investors, with huge\ninvestment pouring into what was seen as a potentially profitable new\ncommodity. Following legal regulation, a number of federally-licensed\nproducers benefited from large (mainly speculative) investments. Heavy early\ninvestment was scaled back once the market picture became clearer, however,\nand stock prices dropped dramatically in the second half of 2019. The value of\nCanopy Growth and Cronos Group, two of the largest producers, more than halved\nbetween April and November 2019, while Aurora Cannabis dropped by around three\nquarters in the same period. There has since been an upturn in the market, but\nthe cannabis industry speculator \u2018bubble\u2019 has seemingly burst. This resulted\nin reduced investment as well as significant job losses by October 2019. [8]\n\nDemand for cannabis remains high, and the market is likely to grow again\n(particularly as the illegal market continues to be subsumed). Indeed,\ncannabis sales in 2020 grew substantially from 2019 despite store access being\nreduced due to COVID-19. [9] This was in direct contrast to other\nindustries, with general retail sales in all Canadian sectors falling 10%.\n[10] But in Canada, there certainly appears to have been initial\noverestimation of potential profitability, resulting in the realignment of\nmarket perceptions in late-2019.\n\n_**The beneficiaries** _\n\nDespite hopes that the introduction of \u2018micro-cultivation\u2019 licences would open\nthe market to smaller producers in Canada, this has not been the case. In\n2019, the federal government announced that, in order to apply for a licence,\npotential suppliers were required to already have a production facility in\nplace. [11] This meant that those unable to risk the initial investment\ncosts, running to tens, if not hundreds of thousands of dollars, were deterred\nfrom applying. This contributed to an emerging market dominated by a\nrelatively small number of large corporate actors.\n\nThe majority of money in the market is being made by large producers, who are\nlicensed at a federal level and whose products can be sold by retailers across\nthe country. In comparison, retail is managed by individual provinces and\nterritories, some of which do not allow private retail actors at all. However,\nCanopy Growth (one of the largest producers) in particular has also made moves\nin provincial and territorial retail markets. In Nunavut, as of 2020, cannabis\ncould only be purchased online from the Nunavut Liquor and Cannabis agency\u2019s\n\u2018approved agents\u2019, Canopy Growth and AgMedica, meaning the two in effect\nalready had a retail market duopoly. [12] In January 2020, Canopy was also\nreported as a frontrunner to take over Cannabis New Brunswick, the agency\noverseeing all retail sale in New Brunswick, which would have marked a shift\nfrom a government monopoly to a corporate monopoly in the region. [13] In\nother provinces, however, the potential for cannabis corporations to dominate\nthe market at a retail level is limited by regulations: in Alberta, for\ninstance, individuals or \u2018groups of persons\u2019 are not allowed to hold more than\n15% of total licences at any one time. [14] This kind of licence limitation\nis vital to prevent monopolies and to facilitate wider market access.\n\n_**International corporate capture** _\n\nIn recent years, Canadian companies have established a strong base for\ninternational expansion. So far, this has mostly involved capturing medical\ncannabis market space. Nevertheless, diversifying from medical to non-medical\nis relatively simple. This is particularly the case given that many of the\nCanadian producers were, prior to October 2017, already licensed producers in\nthe Canadian medical market. We are therefore seeing Canadian companies, flush\nwith speculative capital investment, globalising quickly: Canopy Growth\nalready has established a medical presence in Australia, Europe, Africa and\nSouth America, largely through its subsidiary, Spectrum Therapeutics, while\nCronos Group similarly operates across five continents. [15]\n\nThis has left Canadian companies in a strong position to take first advantage\nover potential cannabis legalisation. In France, for example, a market battle\nwas sparked in early 2020 between Canadian companies and French producers\nahead of a French trial of medical cannabis. [16] In 2019, Aurora Cannabis\nbought facilities in the Netherlands following news that the Dutch government\nwas potentially expanding scope for medical cannabis beyond the Dutch\nmonopoly-holder Bedrocan (which, in turn, previously operated a joint\nlicensing agreement with Canopy Growth in Canada). [17] In 2018, Aurora\nCannabis acquired the first Mexican company to obtain a medical cannabis\ndistribution licence in 2018 (Mexico is legally regulating cannabis for non-\nmedical consumption in 2021) while, in June 2019, Canopy announced a $3.4\nbillion deal to purchase US-based cannabis company Acreage, with a specific\nrequirement being that the US legalises non-medical cannabis at the federal\nlevel within the next 7.5 years. [18] Canopy reportedly has at least two\nother similar deals with US companies. [19]\n\nMarket capture by Canadian companies in South America has drawn particular\ncriticism. The Colombian Association of Cannabis Industries has estimated that\nmedicinal cannabis companies in Colombia are nearly 75% owned by foreign\ninvestors. Over $600 million was invested in the Colombian market between\nJanuary 2018 and June 2019, mainly by Canadian companies. [20] In 2018,\nCanopy Growth purchased Colombian company Spectrum Cannabis for $60 million,\nwhich it has since rebranded into its international medical subsidiary,\nSpectrum Therapeutics. Through Spectrum, it is licensed to produce cannabis\nover 13.6 million square feet in Colombia. [21] Meanwhile, Cronos Group has\nestablished a joint venture with an affiliate of Colombia\u2019s leading\nagricultural services provider to \u201cdevelop, cultivate, manufacture and export\ncannabis-based medicinal and consumer products for the Latin American and\nglobal markets\u201d. [22] Elsewhere in South America, Aurora Cannabis, which has\ninvestment in 25 countries, purchased \u2018ICC Labs\u2019 in 2018, obtaining over 70%\nmarket share in Uruguay in the process. [23]\n\nWhile South America has drawn the majority of attention at present, this will\nno doubt be an issue elsewhere going forward; Canadian companies have also\nbeen quick to exploit the opportunity created by the legalisation of medical\ncannabis production in Lesotho, with multi-million dollar investments in local\nfarms and companies. [24] All of this raises important questions going\nforward on how markets should be structured, how traditional cannabis growing\ncommunities can be protected, and how fair trade and sustainable development\ncan be guaranteed. [25] Without positive action at an international level,\nthere is a real risk that long term outcomes will benefit corporates located\nin the Global North over the interests and wellbeing of communities working in\nthe Global South.\n\n### Cross-sector investment\n\nNew cannabis markets have presented opportunities for actors in other sectors,\nincluding alcohol and tobacco companies, to diversify into the cannabis space.\nThis raises obvious concerns, especially given the long history of the tobacco\nand alcohol industries lobbying against public health regulation. Tobacco and\nalcohol not only bring enormous financial muscle, but decades of lobbying and\nPR expertise which can be deployed against regulation geared towards both\npublic health and social equity.\n\nAltria, one of the world\u2019s largest tobacco producers, has invested over a\nbillion US dollars into Cronos Group, where it now owns a 45% stake and has\nthree out of seven seats on the board. [26] Altria\u2019s work with Cronos has\nincluded investment in Cronos\u2019 research and development centre, focused on\nvaping devices \u2014 investing both resources and Altria employees to assist in\nthe research. [27] In March 2021, British American Tobacco bought a \u00a3126m\nstake in Canadian producer OrganiGram, also with a focus on product\ninnovation. [28] Constellation Brands (the third largest market share holder\nof all beer companies) owns a 38% share in Canopy Growth and has four out of\nseven seats on the board, while AB inBev and Molson Coors (two of the largest\nalcohol companies in the world) have joint partnerships with Canadian cannabis\ncompanies Tilray and HEXO respectively, to create drinkable cannabis products.\n[29]\n\nCannabis companies have also diversified into other sectors. For instance,\nCanopy Growth has purchased a majority stake in BioSteel Sports Nutrition,\nwhich is claimed to be bought by 70% of teams across North America\u2019s four\nmajor professional sports leagues, with plans to introduce a CBD sports\nnutrition drink. [30] Similarly, Aurora Cannabis operates a research\ncollaboration with the Ultimate Fighting Championship (UFC) to research\npotential uses of CBD products for MMA (mixed martial arts) fighters. [31]\nBy creating brand associations with health, wellbeing and sports through non-\npsychoactive CBD products, companies can prepare the ground for more\neffectively promoting psychoactive cannabis-based products in the future. The\nCEO of Molson Coors has said that drinkable products could \u201csoon make up 20 to\n30 percent of cannabis sales\u201d. [32] A large amount of spending by cannabis\ncompanies is focused on product development; Canopy Growth CEO, Mark Zukelin,\nhas stated that \u201cthe IP [intellectual property] moat around our business\u201d is\none of the company\u2019s greatest assets, boasting over 110 patents and 290 patent\napplications. [33]\n\nCannabis investment has now become mainstream \u2014 with big shareholders in\nCanopy Growth including Morgan Stanley and the Bank of Montreal. [34] Major\nshareholders in Aurora Cannabis include JP Morgan and the Norges Bank\u2019s\nGovernment Pension Fund Global, which invests revenue from Norway\u2019s oil and\ngas resources. [35] There has also been the development of cannabis\nexchange-traded funds (ETFs), like Alternative Harvest ETF, which invest\nheavily in Canadian cannabis companies across the board. [36]\n\nSteve Rolles\n\n### Lessons for other jurisdictions\n\nA theme throughout this book, and in Transform\u2019s work more generally, [37]\nhas been to learn lessons from the early adopters of cannabis regulation in\norder to improve later regulatory practice. While the US states, Canada and\nUruguay operated largely from a regulatory blank slate, future regulatory\nmodels have their experiences to learn from. We have seen how quickly the\ncombination of massive capital investment, and weak or naive regulation, can\nlead to suboptimal outcomes. Future regulation needs to create a better\nbalance between lifting the restrictions of prohibition and ensuring the new\nmarkets promote social wellbeing.\n\nIf policymakers wish for an equitable distribution of market space \u2014 and we\nbelieve they should \u2014 then they must act from the outset, to prevent corporate\ncapture, avoid monopolisation and actively promote market access to smaller\nand marginalised actors. The potential for equitable licensing policies, and\nthe utilisation of social equity programmes, is discussed in detail in the\nchapter on vendors ( [ here ](https://transformdrugs.org/blog/designing-more-\nequitable-legal-cannabis-markets) ) but is broadly applicable at a production\nlevel, too. The benefit of starting from scratch, or largely from scratch,\nshould not be underestimated; and attempting to retrofit equitable mechanisms\nis much more difficult. Where larger corporate actors are involved in domestic\nand international markets \u2014 as is already happening and remains inevitable to\nsome degree \u2014 it will be important to ensure minimum standards of transparency\nand accountability regarding corporate lobbying and other forms of influencing\npolicy makers, to prevent undue influence. Measures should include: fully\ntransparent registers of all lobbying of policy makers and officials; strict\nrules for lobbyists and think tanks \u2014 including transparency of funding\nsources; comprehensive freedom of information rules; and restrictions on\ncorporate political funding and hospitality.\n\nThere has been a great deal of public health research in recent decades\nhighlighting the failures of regulation in relation to corporate capture of\ntobacco and alcohol. Generally, we have been too late to learn our lessons in\nthese areas, and realigning markets towards a public health focus has been all\nthe more difficult as a result. We must ensure the same does not happen for\ncannabis.\n\n****This is an edited extract from t** **he newly updated 3rd edition of 'How\nto Regulate Cannabis: A Practical Guide'! You can purchase the[ hard copy for\nonly \u00a315 ](https://transformdrugs.ecwid.com/How-to-Regulate-Cannabis-A-\nPractical-Guide-3rd-Edition-p30685876) or [ access online\n](https://transformdrugs.org/publications/how-to-regulate-cannabis-3rd-ed) for\nfree. ** ** \n\n[1] International Network for Economic, Social and Cultural Rights (Undated)\nCorporate Capture Project. [ https://www.escr-\nnet.org/corporateaccountability/corporatecapture ](https://www.escr-\nnet.org/corporateaccountability/corporatecapture)\n\n[2] International Network for Economic, Social and Cultural Rights (Undated)\nAbout Corporate Capture. [ https://www.escr-\nnet.org/corporateaccountability/corporatecapture/about ](https://www.escr-\nnet.org/corporateaccountability/corporatecapture/about)\n\n[3] Illinois Department of Financial and Professional Regulation (Undated)\nInstructions for Early Approval Adult Use Dispensing or Organization License -\nSame Site. [ https://www.idfpr.com/Forms/AUC/F2365.pdf\n](https://www.idfpr.com/Forms/AUC/F2365.pdf)\n\n[4] Michigan Department of Licensing and Regulatory Affairs (2019) Marijuana\nRegulatory Agency Releases Adult-Use Application. [\nhttps://www.michigan.gov/lara/0,4601,7-154-89505-509160--,00.html\n](https://www.michigan.gov/lara/0,4601,7-154-89505-509160--,00.html) ; Mauger,\nC (2019) Michigan issues first license to sell recreational marijuana, _The\nDetroit News_ 19th November. [\nhttps://eu.detroitnews.com/story/news/local/michigan/2019/11/19/michigan-\nissues-1st-recreational-marijuana-license/4237643002/\n](https://eu.detroitnews.com/story/news/local/michigan/2019/11/19/michigan-\nissues-1st-recreational-marijuana-license/4237643002/)\n\n[5] Connexion Journalist (2020) French medical cannabis trial sparks market\nbattle, _The Connexion_ 7th February. [ https://www.connexionfrance.co...\n](https://www.connexionfrance.com/French-news/French-medical-cannabis-trial-\nsparks-market-battle-between-Canadian-and-European-firms) ; Pascual, A.\n(2019). Netherlands to expand cannabis production, potentially creating\ncompetition for Bedrocan, _Marijuana Business Daily_ 24th April. [\nhttps://mjbizdaily.com/netherl... ](https://mjbizdaily.com/netherlands-to-\nexpand-cannabis-production-potentially-jeopardizing-bedrocans-monopoly/) ;\nAurora Cannabis Inc (2018). First License to Import, Manufacture, Store, and\nDistribute Medical Cannabis Containing THC in Mexico, _Cision PR Newswire_\n10th December. [ https://www.prnewswire.com/new...\n](https://www.prnewswire.com/news-releases/aurora-cannabis-to-acquire-mexicos-\nfarmacias-magistrales-sa-300762402.html) .\n\n[6] A direct consequence of this is the lack of diversity among executives\nand directors, see: Maghsoudi, N. et al (2020) How Diverse is Canada\u2019s Legal\nCannabis Industry? Examining Race and Gender of its Executives and Directors,\nCentre on Drug Policy Evaluation. [ https://cdpe.org/publication/how-diverse-\nis-canadas-legal-cannabis-industry-examining-race-and-gender-of-its-\nexecutives-and-directors/ ](https://cdpe.org/publication/how-diverse-is-\ncanadas-legal-cannabis-industry-examining-race-and-gender-of-its-executives-\nand-directors/)\n\n[7] The below text is extracted and adapted from: Slade, H. (2020) Capturing\nthe market: Cannabis regulation in Canada, Transform Drug Policy Foundation\nand MUCD. [ https://transformdrugs.org/product/capturing-the-market/\n](https://transformdrugs.org/product/capturing-the-market/)\n\n[8] Gaviola, A. (2019) Major Weed Companies Are Cutting Hundreds of Jobs as\nthe Industry Struggles, _VICE_ 25th October. [\nhttps://www.vice.com/en_ca/article/zmjk7w/major-canadian-weed-companies-are-\ncutting-hundreds-of-jobs-as-the-industry-struggles\n](https://www.vice.com/en_ca/article/zmjk7w/major-canadian-weed-companies-are-\ncutting-hundreds-of-jobs-as-the-industry-struggles) ; McBride, S. (2019)\nAurora Cannabis Is Dumping Its Pot, Which May Be A Sign It\u2019s All Over,\n_Forbes_ 21st October. [\nhttps://www.forbes.com/sites/stephenmcbride1/2019/10/21/aurora-cannabis-is-\ndumping-its-pot-which-may-be-a-sign-its-all-over/#329811305775\n](https://www.forbes.com/sites/stephenmcbride1/2019/10/21/aurora-cannabis-is-\ndumping-its-pot-which-may-be-a-sign-its-all-over/#329811305775)\n\n[9] Statistics Canada (Undated) Cannabis Stats Hub: Sales from Cannabis\nStores. [ https://www150.statcan.gc.ca/n1/pub/13-610-x/cannabis-eng.htm\n](https://www150.statcan.gc.ca/n1/pub/13-610-x/cannabis-eng.htm)\n\n[10] Canadian Centre on Substance Use and Addiction (2021) Cannabis Retail\nDuring COVID-19. [ https://www.ccsa.ca/cannabis-retail-during-covid-19-policy-\nbrief ](https://www.ccsa.ca/cannabis-retail-during-covid-19-policy-brief)\n\n[11] Government of Canada (2019) Cannabis duty - Apply for a cannabis\nlicence. [ https://www.canada.ca/en/revenue-\nagency/services/tax/businesses/topics/excise-duties-levies/apply-cannabis-\nlicence.html ](https://www.canada.ca/en/revenue-\nagency/services/tax/businesses/topics/excise-duties-levies/apply-cannabis-\nlicence.html)\n\n[12] Nunavut Liquor and Cannabis (Undated) Cannabis Purchasing. [\nhttps://www.nulc.ca/news/?id=addf6310-40ce-e811-a979-000d3af49637\n](https://www.nulc.ca/news/?id=addf6310-40ce-e811-a979-000d3af49637) ;\nGovernment of Nunavut (2019) Buying cannabis legally in Nunavut. [\nhttps://www.gov.nu.ca/finance/news/buying-cannabis-legally-nunavut\n](https://www.gov.nu.ca/finance/news/buying-cannabis-legally-nunavut)\n\n[13] Magee, S. (2020) Eight companies seek to take over Cannabis NB, _CBC_\n13th January. [ https://www.cbc.ca/news/canada/new-brunswick/cannabis-pot-new-\nbrunswick-companies-1.5424992 ](https://www.cbc.ca/news/canada/new-\nbrunswick/cannabis-pot-new-brunswick-companies-1.5424992)\n\n[14] Province of Alberta (2018) Gaming, Liquor and Cannabis Act: Gaming and\nLiquor Amendment Regulation, s106. [\nhttp://www.qp.alberta.ca/documents/orders/Orders_in_Council/2018/218/2018_027.pdf\n](http://www.qp.alberta.ca/documents/orders/Orders_in_Council/2018/218/2018_027.pdf)\n\n[15] Spectrum Therapeutics (Undated) Global Footprint. [\nhttps://www.spectrumtherapeutics.com/international/en\n](https://www.spectrumtherapeutics.com/international/en) ; Cronos Group\n(Undated) Brands. [ https://thecronosgroup.com/brands.php#\n](https://thecronosgroup.com/brands.php)\n\n[16] Connexion Journalist (2020) French medical cannabis trial sparks market\nbattle, _The Connexion_ 7th February. [\nhttps://www.connexionfrance.com/French-news/French-medical-cannabis-trial-\nsparks-market-battle-between-Canadian-and-European-firms\n](https://www.connexionfrance.com/French-news/French-medical-cannabis-trial-\nsparks-market-battle-between-Canadian-and-European-firms)\n\n[17] Pascual, A. (2019) Netherlands to expand cannabis production,\npotentially creating competition for Bedrocan, _Marijuana Business Daily_ 24th\nApril. [ https://mjbizdaily.com/netherlands-to-expand-cannabis-production-\npotentially-jeopardizing-bedrocans-monopoly/\n](https://mjbizdaily.com/netherlands-to-expand-cannabis-production-\npotentially-jeopardizing-bedrocans-monopoly/)\n\n[18] Aurora Cannabis Inc (2018) First License to Import, Manufacture, Store,\nand Distribute Medical Cannabis Containing THC in Mexico, _Cision PR Newswire_\n10th December. [ https://www.prnewswire.com/news-releases/aurora-cannabis-to-\nacquire-mexicos-farmacias-magistrales-sa-300762402.html\n](https://www.prnewswire.com/news-releases/aurora-cannabis-to-acquire-mexicos-\nfarmacias-magistrales-sa-300762402.html) ; Dorbian, I. (2019) Canopy And\nAcreage Shareholders Approve $3.4 Billion Deal, But Don't Party Yet, _Forbes_\n21st June. [ https://www.forbes.com/sites/irisdorbian/2019/06/21/canopy-and-\nacreage-shareholders-approve-3-4-billion-deal-but-dont-party-yet/#22ff1cda26d0\n](https://www.forbes.com/sites/irisdorbian/2019/06/21/canopy-and-acreage-\nshareholders-approve-3-4-billion-deal-but-dont-party-yet/#22ff1cda26d0)\n\n[19] Linnane, C. (2019) Cannabis stocks higher as Canopy shareholders meet,\nCannTrust unveils California venture, _Market Watch_ 20th June. [\nhttps://www.marketwatch.com/story/cannabis-stocks-higher-as-canopy-\nshareholders-meet-canntrust-unveils-california-venture-2019-06-19\n](https://www.marketwatch.com/story/cannabis-stocks-higher-as-canopy-\nshareholders-meet-canntrust-unveils-california-venture-2019-06-19)\n\n[20] Rivera, N.M. (2019) The Challenges of Medicinal Cannabis in Colombia: A\nlook at small - and medium - scale growers, Transnational Institute, p16. [\nhttps://www.tni.org/files/publication-downloads/policybrief_52_eng_web.pdf\n](https://www.tni.org/files/publication-downloads/policybrief_52_eng_web.pdf)\n\n[21] See above footnote; Troup, R. (2019) Canopy Growth Provides\nInternational Update on Latin America, Australia, Europe and Africa, Signs\nMulti-Year Colombia Deal, _Cannabis Investor_ 17th June. [\nhttps://www.thecannabisinvestor.ca/canopy-growth-provides-international-\nupdate-on-latin-america-australia-europe-and-africa-signs-multi-year-colombia-\ndeal/ ](https://www.thecannabisinvestor.ca/canopy-growth-provides-\ninternational-update-on-latin-america-australia-europe-and-africa-signs-multi-\nyear-colombia-deal/)\n\n[22] NCV Newswire (2018) Cronos Group Enters Latin America with Colombia\nJoint Venture, _New Cannabis Ventures_ 29th August. [\nhttps://www.newcannabisventures.com/cronos-group-enters-latin-america-with-\ncolombia-joint-venture/ ](https://www.newcannabisventures.com/cronos-group-\nenters-latin-america-with-colombia-joint-venture/)\n\n[23] Paley, D.M. (2019) Canada\u2019s Cannabis Colonialism, _Toward Freedom_ 8th\nOctober. [ https://towardfreedom.org/story/canadas-cannabis-colonialism/\n](https://towardfreedom.org/story/canadas-cannabis-colonialism/) ; Trefis Team\n(2018) Aurora Cannabis Makes Inroads Into South America With Latest\nAcquisition, _Forbes_ 11th September. [\nhttps://www.forbes.com/sites/greatspeculations/2018/09/11/aurora-cannabis-\nmakes-inroads-into-south-america-with-latest-acquisition/#34cf2f7c4ca1\n](https://www.forbes.com/sites/greatspeculations/2018/09/11/aurora-cannabis-\nmakes-inroads-into-south-america-with-latest-acquisition/#34cf2f7c4ca1)\n\n[24] Vickers, E. (2019) The small African kingdom that\u2019s perfect for growing\ncannabis, but maybe not for regulating it, Quartz Africa 9/11/19. [\nhttps://qz.com/africa/1744366/lesotho-is-perfect-growing-cannabis-but-not-\nregulation/ ](https://qz.com/africa/1744366/lesotho-is-perfect-growing-\ncannabis-but-not-regulation/)\n\n[25] See: Jelsma, M., Kay, S. and Bewley-Taylor, D. (2019) Fair(er) Trade\nOptions for the\n\nCannabis Market, Swansea University and Transnational Institute. [\nhttps://www.tni.org/files/publication-\ndownloads/fair_trade_options_for_the_cannabis_market.pdf\n](https://www.tni.org/files/publication-\ndownloads/fair_trade_options_for_the_cannabis_market.pdf)\n\n[26] Hirsch, L. (2018) Altria to invest $1.8 billion in cannabis company\nCronos Group, exits some e-cig brands, _CNBC_ 7th December. [\nhttps://www.cnbc.com/2018/12/07/altria-to-invest-1point8-billion-in-cannabis-\ncompany-cronos-group.html ](https://www.cnbc.com/2018/12/07/altria-to-\ninvest-1point8-billion-in-cannabis-company-cronos-group.html)\n\n[27] Peters, B. (2019) Why An Analyst Calls This Cannabis Stock The 'New King\nIn The North', _Investor\u2019s Business Daily_ 18th October. [\nhttps://www.investors.com/news/cronos-group-stock-king-in-north/\n](https://www.investors.com/news/cronos-group-stock-king-in-north/)\n\n[28] Khan, S. and Cavale, S. (2021), BAT looks beyond tobacco to Canadian\nmarijuana, _Reuters_ 11th March. [ https://www.reuters.com/article/bat-\nagreement-organigram-hldg/update-3-bat-looks-beyond-tobacco-to-canadian-\nmarijuana-idUSL4N2L9306 ](https://www.reuters.com/article/bat-agreement-\norganigram-hldg/update-3-bat-looks-beyond-tobacco-to-canadian-marijuana-\nidUSL4N2L9306)\n\n[29] Canopy Growth (Undated) Governance. [\nhttps://www.canopygrowth.com/investors/governance/board-of-directors/\n](https://www.canopygrowth.com/investors/governance/board-of-directors/) ;\nLewis, A.C. (2019) Drink up, stoners, _The Verge_ . [\nhttps://www.theverge.com/2019/7/30/18639829/weed-beer-drinkable-marijuana-\ncannabis-drinks-alcohol ](https://www.theverge.com/2019/7/30/18639829/weed-\nbeer-drinkable-marijuana-cannabis-drinks-alcohol)\n\n[30] LoR\u00e9, M. (2019) Canopy Growth And BioSteel To Introduce CBD Products To\nSports Nutrition Market, _Forbes_ 23rd October. [\nhttps://www.forbes.com/sites/michaellore/2019/10/23/canopy-growth-and-\nbiosteel-to-introduce-cbd-products-to-sports-nutrition-market/#5b6edbbef9b7\n](https://www.forbes.com/sites/michaellore/2019/10/23/canopy-growth-and-\nbiosteel-to-introduce-cbd-products-to-sports-nutrition-market/#5b6edbbef9b7)\n\n[31] Button, A. (2019) Why the Aurora Cannabis-UFC Partnership Is a Huge\nDeal, _The Motley Fool_ 29th May. [\nhttps://www.fool.com/investing/international/2019/05/29/why-the-aurora-\ncannabis-ufc-partnership-is-a-huge.aspx\n](https://www.fool.com/investing/international/2019/05/29/why-the-aurora-\ncannabis-ufc-partnership-is-a-huge.aspx)\n\n[32] Lewis, A.C. (2019) Drink up, stoners, _The Verge_ . [\nhttps://www.theverge.com/2019/7/30/18639829/weed-beer-drinkable-marijuana-\ncannabis-drinks-alcohol ](https://www.theverge.com/2019/7/30/18639829/weed-\nbeer-drinkable-marijuana-cannabis-drinks-alcohol)\n\n[33] Paley, D.M. (2019) Canada\u2019s Cannabis Colonialism, _Toward Freedom_ 8th\nOctober. [ https://towardfreedom.org/story/canadas-cannabis-colonialism/\n](https://towardfreedom.org/story/canadas-cannabis-colonialism/)\n\n[34] Fintel (Undated) CGC / Canopy Growth Corporation - Institutional\nOwnership and Shareholders. Accessed 20 February 2020. [\nhttps://fintel.io/so/us/cgc ](https://fintel.io/so/us/cgc)\n\n[35] CNN Business (2020) Aurora Cannabis Inc, Accessed 19 February 2020. [\nhttps://money.cnn.com/quote/shareholders/shareholders.html?symb=ACB&subView=institutional\n](https://money.cnn.com/quote/shareholders/shareholders.html?symb=ACB&subView=institutional)\n; Norges Bank Investment Management (Undated) About the fund. [\nhttps://www.nbim.no/ ](https://www.nbim.no/)\n\n[36] Wathen, J. (2018) 5 Things You Should Know About the Hottest Marijuana\nETF, _The Motley Fool_ 5th January. [\nhttps://www.fool.com/investing/2018/01/05/5-things-you-should-know-about-the-\nhottest-marijua.aspx ](https://www.fool.com/investing/2018/01/05/5-things-you-\nshould-know-about-the-hottest-marijua.aspx)\n\n[37] See: Slade, H. (2020) Altered States: Cannabis regulation in the US,\nTransform Drug Policy Foundation. [\nhttps://transformdrugs.org/product/altered-states-cannabis-regulation-in-the-\nus/ ](https://transformdrugs.org/product/altered-states-cannabis-regulation-\nin-the-us/) ; and Slade, H. (2020) Capturing the market: Cannabis regulation\nin Canada, Transform Drug Policy Foundation and MUCD. [\nhttps://transformdrugs.org/product/capturing-the-market/\n](https://transformdrugs.org/product/capturing-the-market/)\n\n## Latest Articles\n\n### [ Can we legalise psychedelics under the UN drug treaties? 16th April\n2025 Read more ](https://transformdrugs.org/blog/can-we-legalise-\npsychedelics-under-the-un-drug-treaties)\n\n### [ CND 2025: What future for the UN drug control system? 23rd March 2025\nRead more ](https://transformdrugs.org/blog/cnd-2025-what-future-for-the-un-\ndrug-control-system)\n\n### [ High Returns: The economic benefits of UK cannabis legalisation 4th\nMarch 2025 Read more ](https://transformdrugs.org/blog/high-returns-the-\neconomic-benefits-of-uk-cannabis-legalisation)\n\n[ ](/)\n\n[ 0117 442 0880 ](tel:01174420880)\n\nThe Station \nSilver Street \nBristol \nBS1 2AG\n\n[ ](https://www.facebook.com/transformdrugs/)\n\n[ ](https://twitter.com/TransformDrugs)\n\n[ ](https://www.instagram.com/transformdrugs/)\n\n[ ](https://www.youtube.com/channel/UCRy-JpTkmustrutPHSdOSXA)\n\n[ Donate ](/get-involved/donate)\n\nTransform Drug Policy Foundation is a registered charity (no. 1100518)\n\n",
"url": "https://transformdrugs.org/blog/preventing-corporate-capture-of-emerging-cannabis-markets"
},
"reason": "This blog post from Transform Drugs Policy Foundation discusses the cannabis market and mentions Cronos Group. While the source has a clear viewpoint, it provides relevant information and context.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' social impact human rights",
"summary": "This blog post from Transform Drugs Policy Foundation discusses the cannabis market and mentions Cronos Group. While the source has a clear viewpoint, it provides relevant information and context.",
"url": "https://transformdrugs.org/blog/preventing-corporate-capture-of-emerging-cannabis-markets"
},
{
"content": {
"metadata": {
"ext_id": "e007020c-a956-4c25-89ad-bdf0cf5c8651",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://truthinitiative.org/research-resources/substance-use/link-between-cannabis-and-tobacco"
},
"page_content": "Skip to main content\n\nX\n\n#### Want support quitting? Join EX Program for free\n\n * [ Home ](/)\n * [ Research and resources ](/research-resources)\n * The link between cannabis and tobacco \n\n[ Fact Sheet ](/research-resources/type/fact-sheet)\n\n# The link between cannabis and tobacco\n\nSep. 28, **2023** **13 min** read\n\n#### Topic\n\n * [ Substance Use ](/research-resources/topic/substance-use)\n\n#### Subtopic\n\n * [ Marijuana ](/research-resources/topic/substance-use?subtopic%5B112%5D=112)\n\n**RELATED MATERIALS**\n\n[ Action needed: Youth and marijuana ](https://truthinitiative.org/research-\nresources/substance-use/action-needed-youth-and-marijuana)\n\n[ Download fact sheet __\n](/sites/default/files/media/files/2024/05/Cannabis%20Fact%20Sheet%202023.pdf)\n\nMany states have increased legal access to cannabis products recently, with 38\nstates plus D.C. legalizing medical cannabis, 27 states plus D.C.\ndecriminalizing the possession of cannabis, and 20 states plus D.C. legalizing\ncannabis for adult recreational use. Although overall cannabis use patterns\nnationwide have remained steady, including among youth in states where\ncannabis is legal, vaping cannabis as a commonly used method of consumption is\non the rise.\n\nCannabis and tobacco products (including cigarettes, e-cigarettes, and\nsmokeless tobacco products) are two of the most commonly used substances among\nU.S. youth. Tobacco and cannabis use patterns are also evolving, and many\nteens are combining the two products. **Among youth aged 12-17, co-use of\ncannabis and tobacco is more prevalent than using both substances by\nthemselves.** A study that analyzed data collected from October 2018 also\nshows that odds of cannabis use were higher among youth who had a history of\nusing e-cigarettes. These are concerning trends given that cannabis has\npotentially dangerous effects on young people; youth cannabis use negatively\nimpacts brain development, and shows worrying links to depression and earlier\nonset and worse symptoms of psychotic illness in those who are susceptible.\nYoung people who use nicotine and cannabis are exposed to negative health\neffects of both substances \u2013 [ nicotine is highly addictive and can also\nnegatively impact developing brains\n](https://www.cdc.gov/tobacco/basic_information/e-cigarettes/Quick-Facts-on-\nthe-Risks-of-E-cigarettes-for-Kids-Teens-and-Young-\nAdults.html?s_cid=OSH_emg_GL0004&gclid=CjwKCAjw67ajBhAVEiwA2g_jEIKIk7PKrihBvcPVS3UQ_orE4Yyq4RuieTThUgedYv8DGEcGDgF0kBoCo4oQAvD_BwE#why-\nis-nicotine-unsafe) \u2013 warranting continued surveillance of youth cannabis use.\nIn addition, the increase in cannabis legalizations and an evolving policy\nlandscape concerning cannabis has rapidly brought about new products that\nshould be monitored to ensure that these products do not attract new youth\nusers.\n\nThis resource presents information about the current state of legalization and\nchanging state laws regarding cannabis, the evolving product landscape, as\nwell as cannabis use patterns among youth and adults and the health effects\nresulting from such use.\n\n## What is cannabis?\n\n * Cannabis is a plant that produces active chemicals that can affect the entire body when consumed. \n * Cannabis is primarily used for the psychoactive mind-altering component known as Tetrahydrocannabinol (THC). Delta-9 THC is the primary form of THC consumed. The cannabis plant can be harvested to produce concentrates, extracts, and edibles. \n * THC can be ingested orally, smoked, inhaled as a vapor, sprayed under the tongue, used on skin, and mixed into food products as edibles. \n * Side effects of cannabis use can include impairment in attention, judgment and short-term memory, slow coordination, worsened balance, and increased heart rate. Users may experience anxiety and paranoia. It can also irritate the throat and lungs and disrupt sleeping patterns. Long-term use has been associated with impairments in learning and memory with a potential loss of IQ. \n * Today\u2019s cannabis is substantially more potent than it was two decades ago, providing a more intense and longer high, and more pronounced physical and mental side effects. THC concentrations of vaporized hash oil and waxes that are modified for use in vaping devices can exceed those of dried cannabis by four to 30 times. \n\n## CANNABIS AND HEMP-DERIVED PRODUCTS\n\n## Different marijuana products like delta-8 and CBD\n\nThe cannabis landscape is quickly evolving, and new products such as hemp-\nderived products are becoming more popular. These products have complicated\nregulations surrounding cannabis and cannabis use patterns.\n\n * **Cannabidiol (CBD)** is a non-psychoactive component of the cannabis plant. At the federal level, CBD derived from hemp with THC concentrations of less than 0.3 percent is legal, and some states have acted to legalize it in their jurisdictions. \n * **Hemp** is another name for the cannabis plant usually grown with low amounts of THC specifically to make products like rope, paper, cloth and soap. Hemp was removed from the federal Controlled Substance Act in 2018, making it legal at the federal level. However, it is still illegal in some states. \n * **Hemp-derived products** like Delta-8, Delta-10, and Hexahydrocannabinol have grown in popularity, producing a \u201chigh\u201d milder than traditional Delta-9 THC. Because products are made from hemp, they are federally legal. The 2018 Farm Bill Act defines hemp as \u201c\u2026the plant Cannabis sativa L. and any part of that plant, including the seeds thereof and all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers, whether growing or not, with a Delta-9 tetrahydrocannabinol concentration of not more than 0.3 percent on a dry weight basis.\u201d The Farm Bill defined hemp as the cannabis plant with less than 0.3% of THC. This meant that the cannabis plant with less than 0.3% is no longer considered a Schedule I Drug subject to the Controlled Substance Act. In addition, this language is credited with unintentionally expanding the cannabis market beyond Delta-9 THC and the sale of certain CBD products like hemp-derived products. As of January 2023, 17 states have taken action to make these new hemp-derived products illegal. Furthermore, the Food and Drug Administration has stated that it must approve any health claims in hemp-derived CBD products, which is important because unverified and unregulated health claims related to these products have been reported. \n * **Delta-8** is a psychotropic hemp-derived compound (cannabinoid) found naturally in cannabis in small quantities. It is traditionally similar to the Delta-9 THC found in cannabis, but produces less of a \u201chigh.\u201d However, Delta-8 is now synthesized to produce euphoric states similar to Delta-9. Primary methods of consumption of Delta-8 include vape liquids, edibles, cannabis oils, and capsules. Delta-8 can cause hallucinations, vomiting, tremors, anxiety, dizziness, confusion, and loss of consciousness. \n * **Delta-10** is another hemp-derived compound that creates less of a \u201chigh\u201d than Delta-8. Delta-10 is also reported to have energizing effects compared to Delta-8\u2019s more sedative effects. The primary method of Delta-10 consumption is vape cartridges and edibles. \n * **Hexahydrocannabinol (HHC)** is created from CBD extracted from hemp and is primarily consumed in the form of vape cartridges. Manufacturers state that the \u201chigh\u201d experience from HHC is similar to a Delta-8 high, implying it is more subdued than traditional Delta-9. However, there is a lack of consensus on the potency of HHC . \n\nCannabis is currently the most commonly used illicit drug in the United\nStates. Despite its federal status as an illegal substance, [ 21 states and\nD.C. have legalized adult use for those aged 21 and up and another 38 states\nand D.C. have legalized cannabis use for medicinal purposes as of July 2023.\n](https://no-smoke.org/wp-content/uploads/pdf/marijuana-states-legal-map.pdf)\n\nAt the federal level, cannabis (except cannabis with a THC concentration of\n0.3 percent or less) remains a \u201cSchedule I\u201d substance, which is a drug or\nchemical the federal government considers at high risk for abuse and possesses\nlittle or no medical benefit.\n\nThe rapidly evolving legal status of cannabis has left the cannabis retail\nmarket in disarray with a dearth of federal standards and disparate policies\nand varying levels of enforcement at the state level. For instance, unlicensed\nstores and smoke shops that sell cannabis illegally are a known problem.\nColorado has many inconsistencies in its cannabis regulations, yet several\nstates and countries have used the state as a model for their policies. CBD\nproducts present another tricky aspect in retail and enforcement because they\nare federally illegal but legal in certain states. The cannabis product itself\nvaries widely because there are no standards for extraction, few testing labs,\na lack of federal standards, and a variety of breeding practices.\n\n## YOUTH CANNABIS USE REMAINS STEADY\n\n## Youth marijuana use\n\nNationwide, youth cannabis use has remained steady over the past 10 years,\ndespite significant drops in smoking rates and alcohol use.\n\nAs alcohol and cigarette use decline among youth, cannabis is increasingly the\nfirst substance young people use. Research also shows that cannabis-na\u00efve\nadolescents who have used e-cigarettes are significantly more likely to report\ncannabis use one year later compared with those who have not used\ne-cigarettes. Other recent surveys have found that:\n\n * **More than 1 in 3 (38.3%) teens** have tried cannabis by the 12th grade. \n * **Nearly 18% (17.9%) of teens used cannabis in the past year** and 11% used it in the past 30 days. \n * **Almost a third of 12th graders used cannabis in the past year.** \nIn 2022, 8.3% of 8th graders, 19.5% of 10th graders and 30.7% of 12th graders\nused cannabis in the past year.\n\n * **More than 20% of high school seniors and 12% of 10th graders used cannabis in the past month.** \nIn 2022, 5% of 8th graders, 12.1% of 10th graders and 20.2% of 12th graders\nused cannabis in the past month.\n\n * **More than 6% of high school seniors used cannabis daily.** \nAlmost 1 in 16 12th graders (6.3%) reported smoking cannabis daily in 2022.\n\n * **Cannabis is \u201cfairly easy to obtain.\u201d** \n70% of 12th graders who have used cannabis reported cannabis being fairly easy\nor very easy for them to obtain, including in states where it remained\nillegal, in 2021.\n\n * **Youth use may be affected by medical legalization.** \nA 2022 study found that assuming states attain the median medical cannabis\nmarket size of around 1% of adults, the prevalence of cannabis use in the last\nmonth will rise from 7.6% to 8.2% for 12-17 year olds.\n\n * **There is mixed evidence of adult recreational cannabis laws affecting youth use.** \nA 2022 Colorado study evaluating the impact of recreational cannabis\nlegalization found that cannabis use among adolescents has remained\nconsistent, yet use among young adults has grown. Also, Colorado adolescents\nof all ages use cannabis at greater rates than youth in the rest of the United\nStates. A 2019 national study found that legalized adult cannabis use for non-\nmedical purposes has resulted in an increase in youth use of around 11%. A\nreview of multiple studies found that six studies reported a decrease in\nadolescent use prevalence, while seven studies reported an increase in use\nprevalence.\n\n * **For young people, smoking is the most common method of cannabis use.** The most frequent and consistent route of cannabis use among adolescents was smoking (99%), followed by edible use (61%), and then vaping (44%) across their lifetimes, according to 2016 data. \n\n**Adult use remains steady, but is more common in states that have legalized\ncannabis for adult use** \nAdult cannabis use has increased in recent years, with higher prevalence in\nmost states where it is legal to consume cannabis.\n\n * **More than 12% of adults used cannabis in the past month** \nIn 2021, nearly 14% (13.7%) of U.S. adults aged 18 and older \u2014 34.9 million\npeople \u2014 used cannabis in the past month.\n\n * **Most adults that currently use cannabis consume cannabis by smoking** \nIn 2014, the most popular way of consuming cannabis among adults that are\ncurrent cannabis users was a bowl or pipe (49.5%), followed by a joint\n(49.2%). There is lesser use of a bong, water pipe, or hookah (21.7%), blunts\n(20.3%), edibles/drinks (16.1%), and vaporizers (7.6%).\n\n * **Men are more likely to regularly use cannabis than women** \nRegular (i.e., use in the past 30 days) cannabis use is more common in men\n(16.2%) than women (11.4%).\n\n * **Adult use is higher in states where cannabis is legal** \nAdult use is around two to three percentage points higher in states with\nlegalized medical cannabis and as much as 23% higher among adults in states\nwith legalized recreational cannabis.\n\n> Adult cannabis use has increased in recent years, with higher prevalence in\n> most states where it is legal to consume cannabis.\n\n## DISPARITIES IN CANNABIS USE\n\n## Marijuana use rate disparities\n\n * **Racial/ethnic disparities** \nSeveral studies from 2022 have found that prevalence of tobacco and cannabis\nco-use are higher among Black populations compared to other racial/ethnic\ngroups. Additionally, within a sample of pregnant women in 2017, Black women\nhave increased odds of co-using cannabis and tobacco compared to only using\ntobacco.\n\n * **Sexual minority disparities** \nWhen compared to heterosexual women, bisexual women had 2.89x higher\nprevalence and lesbian/gay women had 2.04x higher prevalence of past year\ncannabis use. Bisexual men had 1.39x higher prevalence and gay men had 1.29x\nhigher prevalence of past year cannabis use compared to heterosexual men.\nCompared to heterosexual youths, lesbian/gay youth had 2.67x higher odds and\nbisexual youth had 2.78x higher odds of co-using cannabis and nicotine.\n\n * **Income disparities** \nThe prevalence of cannabis use and cannabis use disorder is greatest in adults\nat the lowest income level ($0-$19,999), compared to those at all higher\nincomes ($20,000-$34,999, $35,000-$69,999, and \u2265$70,000) from 1991 to 2013.\n\n## Racial/Ethnic inequities regarding cannabis\n\n * Historically, Black and Latino people in the U.S. have been disproportionately targeted when it comes to cannabis enforcement. \n * Black people are more than 3X more likely to be arrested for cannabis possession compared to white people, despite similar prevalence of cannabis use. \n * More than three quarters (77%) of federal cannabis sentences were for Latino people, even though they only comprised 20% of the U.S. population in 2015 and only 10.5% aged 12 or older used cannabis in the past month. \n * Recently, there have been efforts to attenuate racial/ethnic inequities surrounding cannabis enforcement. \n * As of 2020, at least 23 states and the District of Columbia have implemented cannabis conviction expungement and other ways to relieve past cannabis records. \n * Social equity programs have been implemented in some states. Six states and some localities have taken initiative to ensure that communities disproportionally affected by previous cannabis laws can participate in the legal cannabis industry. \n * On October 6, 2022, President Biden announced reforms on federal cannabis policy to pardon those that were convicted of simple cannabis convictions at the federal level and urged state governors to follow suit. \n\n## CANNABIS AND TOBACCO: COMMON USE PATTERNS\n\n## Marijuana and tobacco\n\nCannabis and tobacco products (including cigarettes, e-cigarettes, and\nsmokeless tobacco products) are two of the most commonly used substances among\nyouth in the United States. In addition, a 2018 study found that co-use of\ncannabis and tobacco is more prevalent than tobacco only or cannabis only use\nin U.S. youth ages 12-17.\n\nYoung adults who use cannabis more frequently are likely at risk for greater\ntobacco exposure, and vice versa. Participants in a study of young adults in\nCalifornia who used cannabis recently were 65% more likely to report use of\nmultiple tobacco products than those who reported no recent cannabis use at\nbaseline. Additional studies have found other notable patterns, including:\n\n * **Past month cannabis use and daily cannabis use are more common among those who smoke cigarettes.** Among youth ages 12-17 who used cigarettes daily, 29.9% used cannabis daily. \n * A study published in 2022 analyzing data from 2017 and 2019 found that youth who use e-cigarettes are over three times more likely to use cannabis than those who do not. \n * E-cigarette use predicts later cannabis use among youth, especially among young adolescents. \n\n## HOW CANNABIS IS CONSUMED\n\n## Different ways to use marijuana\n\n * **Spliffs** \u2013 Rolled cannabis and tobacco cigarette \n * **Blunts** \u2013 Cannabis rolled in tobacco leaf \n * **Spliff vapes** \u2013 Vapes that combine cannabis oil and nicotine \n * **DIY THC/CBD Juul Pods** \u2013 Juul-like pods that contain THC and/or CBD oil. This can be made at home or pre-filled pods can be sold. \n * **Disposable vapes, cartridges, and pods** \u2013 Vapes that can be disposed of after using all the product. Similar to disposable nicotine vapes, but it may contain CBD and/or THC instead. \n * **Inhalers** \u2013 Inhalers containing THC. \n * **Edible/Gummies** \u2013 Food that contains THC and/or CBD. \n * **Oils** \u2013 Oil extracted from cannabis to get THC. Oils tend to be more potent since they are more concentrated. \n * **Wax** \u2013 Wax is extracted from cannabis through butane or hydrocarbon extraction, creating a potent concentrate. \n * **Shatter** \u2013 The extraction process is similar to wax, but shatter has a hard, glass-like consistency, whereas wax is more soft and malleable. \n * **Tinctures** (product dissolved in alcohol) \u2013 Cannabis-infused with alcohol. \n\n## IS CANNABIS A GATEWAY DRUG\n\n## Is marijuana a gateway drug\n\nThere is a lot of debate on whether cannabis is a gateway drug. There are\nstudies that find that regular or heavy cannabis use is associated with an\nincreased risk of using other illicit drugs, although this link may be because\nusers of all of these substances share common risk traits (e.g., sensation\nseeking). It is also theorized that any substance that decreases reactivity of\nbrain receptors can lead to addiction vulnerability. On the other hand, a 2022\nstudy has found that cannabis use may not be a gateway drug for other illicit\ndrug use. That said, the majority of people who use cannabis do not go on to\nuse other \u201charder\u201d substances.\n\n> Odds of cannabis use were higher among youth who had a history of using\n> e-cigarettes.\n\n## VAPING CANNABIS ON THE RISE\n\n## Vaping marijuana rates\n\nTobacco and cannabis use patterns are evolving, with many of today\u2019s teens\ndirectly combining the two products. Vaping cannabis (i.e., heating the dried\nplant and using distillates or an \u201ce-liquid\u201d solution with a battery powered\ne-cigarette to inhale a vapor) has been increasing. A study that analyzed data\ncollected between 2005-2014 also shows that odds of cannabis use were higher\namong youth who had a history of using e-cigarettes. Given the increase in\ncannabis legalizations and increase in e-cigarette use, it is likely that\nvaping cannabis will continuously rise.\n\nIn 2022, 6%, 15% and 20.6% of 8th, 10th and 12th graders, respectively,\nreported vaping cannabis in the last year. While patterns across states are\nnot fully known, individual states have reported varying levels of the use of\nvaping devices for cannabis. For example, about 1 in 4 high school students in\nCalifornia and North Carolina and 1 in 5 high school students in Connecticut\nreported vaping cannabis. Among college students the numbers are even higher,\nwith 29% reporting ever vaporizing cannabis products.\n\nRecent reports of lung injury due to the use of e-cigarettes (EVALI \u2013\nE-cigarette and Vaping Associated Lung Injury) have linked vaping cannabis\nwith lung illnesses. As of February 18, 2020, there have been 2,807 reported\ncases and 68 deaths related to EVALI. The Centers for Disease Control and\nPrevention identified vitamin E acetate as a significant concern in the\noutbreak, finding the chemical in 48 of 51 EVALI samples it had analyzed from\nvictims. Vitamin E acetate is harmless when ingested or applied topically, but\nit can affect normal lung functioning when inhaled. The CDC advises that\npeople do not use e-cigarettes or vaping products containing THC from non-\nregulated markets including friends, family, or in person or online dealers.\n\n## CONNECTION BETWEEN THE CANNABIS INDUSTRY AND TOBACCO INDUSTRY\n\n## Link between marijuana and tobacco industry\n\nThe tobacco industry sees cannabis as a both a potential competitor as well as\na potential product. Big Tobacco has previously shown interest in the legal\ncannabis business and recently, multiple tobacco companies have invested in\ncannabis companies. Big Tobacco has also supported pro-cannabis groups that\nlobby for legalization.\n\n * Imperial Brands has a 20% stake in AuxlyCannabis and acquired a stake in the biopharmaceutical company Oxford Cannabinoid Technologies. \n * Altria (the maker of Marlboro) acquired a 41% stake in Cronos Group, a cannabis research and product development group in March 2019. \n * British American Tobacco acquired almost 20% of Organigram, a Canadian cannabis research company. \n * Philip Morris International invested $20 million in the Israeli medical cannabis company Syge Medical. \n * A joint venture between BAT\u2019s subsidiary AJNA BioSciences PBC and Charlotte\u2019s Web, which BAT invested in last year, plans to seek approval from the US Food and Drug Administration for a treatment made from hemp extract. AJNA invested $10 million in the deal. Charlotte\u2019s Web and AJNA each own 40% of the entity, while BAT controls the remaining stake, according to a [ statement ](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bgov.com%2Fnext%2Fnews%2FRSP7QF073NCW&data=05%7C01%7CSGagosian%40truthinitiative.org%7Ce361b2f3a8b649337d3508db36c99875%7Cfc076a247c0641598e373c4523d2a5ba%7C0%7C0%7C638164011714421570%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=bZPxD78VY2kJ8xTh6RM7WlMXzv%2FadjEyjCIFF%2BD6Yp8%3D&reserved=0) . \n * Even though the cannabis industry faces [ hurdles ](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bgov.com%2Fnext%2Fnews%2FRRTFX1T0AFB7&data=05%7C01%7CSGagosian%40truthinitiative.org%7Ce361b2f3a8b649337d3508db36c99875%7Cfc076a247c0641598e373c4523d2a5ba%7C0%7C0%7C638164011714421570%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=i0en2OnOn5hBkyAsS%2BHmNSur5LvsYAMh5202FRMfOlk%3D&reserved=0) , tobacco companies are increasingly investing in the sector to move away from legacy tobacco products, like cigarettes, that have experienced declining demand. BAT has also put money [ into ](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bgov.com%2Fnext%2Fnews%2FRITD8ET0G1L3&data=05%7C01%7CSGagosian%40truthinitiative.org%7Ce361b2f3a8b649337d3508db36c99875%7Cfc076a247c0641598e373c4523d2a5ba%7C0%7C0%7C638164011714421570%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=N%2FvZDi3FPOjf91C5smynA0%2FYeklUyocbhyz%2FYHHj%2BHE%3D&reserved=0) OrganiGram, a Canadian cannabis firm, and German cannabis company Sanity Group, [ joining ](https://nam02.safelinks.protection.outlook.com/?url=https%3A%2F%2Fwww.bgov.com%2Fnext%2Fnews%2FRITD8ET0G1L3&data=05%7C01%7CSGagosian%40truthinitiative.org%7Ce361b2f3a8b649337d3508db36c99875%7Cfc076a247c0641598e373c4523d2a5ba%7C0%7C0%7C638164011714421570%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C3000%7C%7C%7C&sdata=N%2FvZDi3FPOjf91C5smynA0%2FYeklUyocbhyz%2FYHHj%2BHE%3D&reserved=0) Snoop Dogg\u2019s Casa Verde Capital. \n * The tobacco industry may have an interest due to \u201cthe functional similarities of cannabis production; its use with tobacco roll-your-own (RYO) cigarettes; the ability to extract its active ingredients for use in e-cigarettes (THC and CBD), and its medicinal potential.\u201d \n * Concerns have been raised that cannabis companies will target the same communities that were targeted by Big Tobacco. \n * CBD is becoming more prevalent in vape shops and online vape retailers as there are a growing number of restrictions that prevent e-cigarette products, especially those that come in flavors, from being manufactured, marketed, or sold. A study found that 73.3% of merchants in the study sold CBD vape products and 80% sold other CBD products. Vape shops also sell CBD products like cannabis glassware, pipes, and accessories. \n\n## MORE RESEARCH NEEDED ON BENEFITS OF MEDICINAL CANNABIS\n\n## Benefits of medical marijuana\n\nDespite the increasing number of states that have legalized cannabis for\nmedicinal purposes, there is little evidence that points to specific medicinal\nbenefits of cannabis. While users anecdotally report several medical benefits\nfrom cannabis, such as improved sleep and decreased anxiety, studies to date\nshow mixed results for medicinal cannabis use, including:\n\n * Moderate evidence for the treatment of chronic pain, spasticity in MS patients. \n * Mixed evidence for the treatment of glaucoma. \n * Some evidence of improvements in nausea and vomiting due to chemotherapy, alleviation of fatigue, anxiety and increased appetite for people with HIV/AIDS, and a reduction in anxiety and sleep disorders \n * Clinical research on cannabinoids for alleviating motor and nonmotor symptoms in Parkinson\u2019s disease, Huntington\u2019s disease, Tourette\u2019s syndrome, dystonia, and other movement disorders are currently underway. \n\n## Cannabis use disorder\n\n * Cannabis use disorder is characterized by symptoms such as intense cravings, an inability to stop/reduce use or continuing use despite negative consequences. \n * Symptoms, ranging from mild to severe, depending on the number, can significantly impact a person\u2019s quality of life and their ability to function. \n * Around 4.4 million people (age 12 and older) had cannabis use disorder in 2018. \n * Around 30% of those who use cannabis may have some degree of cannabis use disorder. \n\n## CANNABIS CAN HAVE NEGATIVE IMPACTS \u2014 POSING HARM TO YOUTH\n\n## What are the effects of marijuana use on teens\n\nResearch has consistently found cannabis can have lasting impacts on the\nadolescent brain, which is still developing until around age 25.\n\n * **Disruption of brain\u2019s architecture** \nEarly use of cannabis by teens and young adults disrupts the brain\u2019s\narchitecture, especially among chronic, heavy and early users, resulting in\ncognitive impairment. Also, exposure to THC during adolescence can impact\nstructural, molecular, and functional alterations of brain circuits,\nespecially in areas involving cognition and behavior.\n\n * **Memory, learning, attention, and impulse control problems** \nRegular cannabis use in adolescence may have long-term effects. Some studies\nsuggest regular cannabis use in adolescence can negatively impact memory,\nlearning and impulse control. Acute and chronic exposure to cannabis can\nimpair verbal learning, memory, and attention.\n\n * **Connections with mental health** \nCannabis use is associated with depression in young adults and is associated\nwith earlier onset and worse symptoms of psychotic illness, including\nschizophrenia.\n\n * **Higher dropout rates** \nHeavy and frequent use of cannabis during the teenage years is also associated\nwith higher high school dropout rates, lower grades and poorer attendance\ncompared to nonusers. Multiple studies have also found that cannabis use can\nbe associated with reduced educational attainment (i.e. reduced changes of\ngraduating). However, it is unclear to what degree cannabis use is directly\ncausing these associations as there may be other factors at play.\n\n * **Increased traffic deaths** \nOne study found that a larger medical cannabis market size is associated with\nincreased traffic deaths among drivers aged 15-20. It\u2019s important to note that\nthis study found that there is a potential synergistic effect between alcohol\nand cannabis use among youth. They indicate that although cannabis\u2019 effect on\ndriver impairment is moderate in comparison to alcohol effects, using cannabis\nand alcohol together may have an enhanced effect on driver impairment.\n\n## DEPENDENCE IN YOUTH\n\n## Youth marijuana use\n\n * **Youth use may lead to dependence.** A study published in 2008 that analyzed data from 2003 found that people who begin using cannabis before age 18 are four to seven times more likely than adults to develop a cannabis use disorder. \n * **Nearly 1 in 10 adults who use cannabis will become dependent over their lifetime.** The odds of developing cannabis use disorder are higher in people who start using cannabis during youth or adolescence. \n * **Current heavy use.** Frequent cannabis use among youth (defined as using at least weekly to 20-30 days a month) can be associated with a variety of mental health disorders, health risks, and poor psychosocial outcomes. \n\n## PREVENTING YOUTH-APPEALING MARKETING OF CANNABIS PRODUCTS IS KEY\n\n## Marketing marijuana to youth\n\nGiven the serious consequences of cannabis use on the adolescent brain, it is\ncritical to highlight and regulate marketing practices that may appeal to\nyoung people. Like the tobacco industry, which has created products designed\nto appeal to young users, certain cannabis products may be desirable to\nunderage users. Baked goods, gummies, candy, chocolates, and flavored cannabis\nare frequently sold at legal dispensaries. Illegal distributors have also\ncreated products that resemble popular food brands among kids, such as\nCheetos, Fruity Pebbles, Sour Patch Kids, and Oreos. Creameries across\nMassachusetts have recently begun selling cannabis-infused ice cream, and\nsnack companies like Guy\u2019s Chips are developing cannabis infused potato chips.\n\nAs businesses continue to acquire licensing and approval at the state level to\ncreate new cannabis -infused products, public health concerns must be\nconsidered. Since business interests push commercialization, strong regulation\nto prohibit any product branding or marketing that would appeal to youth is\nparamount. This problem is certain to increase exponentially as tobacco\ncompany interests continue to acquire cannabis companies, a phenomenon that is\nsure to accelerate if cannabis legalization increases in the U.S. Altria,\nImperial Brands, and British American Tobacco are some companies that have\nacquired shares in cannabis companies.\n\n## FEDERAL CANNABIS POLICY\n\n## Federal marijuana laws\n\nThe federal government has taken varying approaches to drug enforcement\nthroughout our nation\u2019s history that have tended to shifted focus from\ncriminal enforcement to prevention and rehabilitation. With the emergence of\nstate laws allowing medical and recreational cannabis, the federal government\nhas had to determine how to respond since cannabis remains illegal at the\nfederal level. A few recent developments are important to note:\n\n * In 2014, Congress passed a provision that prohibits the U.S. Justice Department from interfering in the implementation of state medical cannabis laws. While the provision does not change the federal legal status of cannabis, Congress must renew it every fiscal year to remain in effect and has so far done so. \n * December 2018, the Farm Bill of 2018 expanded pilot programs begun in 2014 to remove hemp from the controlled substances list and established hemp as an industrial product. The Farm Bill defined hemp as the cannabis plant with less than 0.3% of Delta-9 THC and allows hemp-derived products to be sold across state lines. Therefore, any cannabis plant with more than 0.3% Delta-9 THC is considered a Schedule 1 drug subject to the Controlled Substance Act. While this was the first time hemp was de-scheduled, the law did create some unintended consequences, including the rise of Delta-8 and Delta-10 use, which were not addressed, nor was the regulation of CBD products over 0.3% Delta-8 THC. Congress is currently negotiating the 2023 Farm Bill and it remains to be seen if it will address any of these issues. Hemp products used as or in drugs, foods, dietary supplements, cosmetics, and veterinary products are subject to FDA regulation under the Food, Drug & Cosmetic Act. \n * On August 29, 2019, in the first surgeon general\u2019s advisory on cannabis since 1982, the U.S. Surgeon General issued a formal advisory stating that cannabis usage can harm the brain development of young people and the fetuses of pregnant women. The advisory provided specific information for parents, youth, state and local governments, and health care providers. \n * On October 6, 2022, President Biden announced reforms on federal cannabis policy to pardon those that were convicted of simple cannabis possession crimes while urging state governors to follow suit. This does not apply to those convicted for distributing or selling cannabis. President Biden also called on the Secretary of Health and Human Services and the Attorney General to review cannabis\u2019 status as a schedule 1 drug, which puts it in the same tier as drugs like heroin and LSD. As part of this review, FDA has been tasked with evaluating the data and making a recommendation on either rescheduling or de-scheduling cannabis. \n * On January 26, 2023, the [ FDA announced that it will not regulate CBD as a dietary supplement ](https://www.fda.gov/news-events/press-announcements/fda-concludes-existing-regulatory-frameworks-foods-and-supplements-are-not-appropriate-cannabidiol) or food stating that it is not apparent how CBD products could meet safety standards for dietary supplements or food additives. The FDA stated that they believe CBD requires a new regulatory pathway which would require congressional action. FDA suggested such a pathway should include measures to address contamination, youth use prevention, labeling, and limits on the amount of CBD in these products. \n * Nonetheless, FDA has issued warning letters to firms marketing CBD products with therapeutic claims, concerning routes of administration, egregious Delta-8 THC products and foods for humans and animals with added CBD. \n\n## STATE REGULATION OF RECREATIONAL CANNABIS\n\n## Recreational marijuana laws\n\nStates that have legalized recreational use of cannabis have taken various\napproaches to regulating it. Most states that allow cannabis sales have at\nleast some sales and advertising restrictions; however, several states are\nstill determining recreational cannabis regulations and it will be important\nto monitor these policies as more are put into place.\n\nSome key elements of current state policies include:\n\n * **Licensing:** All states that allow cannabis sales currently require some sort of license to sell cannabis recreationally. \n * **Amount:** All states that have legalized recreational cannabis have a limit on either the amount someone can possess at any one time, or limits on how much a person can purchase in a single transaction, or both. \n * **Other substances:** All states that allow sales of recreational cannabis prohibit sale of other substances, such as tobacco or alcohol, in cannabis dispensaries. However, there are known concerns with illegal unlicensed cannabis dispensaries despite these policies. In New York City, for example, there are unlicensed stores and smoke shops selling cannabis and tobacco. \n\nHowever, not all states have adopted some key policies that will protect\npublic health. Some missing elements include:\n\n * **Clean indoor air laws:** As of January, 2023, 890 localities and 38 states, territories, and commonwealths restrict marijuana use in some or all smokefree spaces. Of these, 478 localities and 23 states, territories, and commonwealths prohibit smoking and vaping of recreational and medical marijuana in one or more of the following venues: non-hospitality workplaces, restaurants, bars, and/or gambling facilities. As of January 1, 2023, 10 of 19 states with clean indoor air laws specifically include cannabis in those laws, preventing use of cannabis in most workplaces. Additionally, Colorado and Nevada have exemptions for marijuana smoking in restaurants in their smokefree laws and Michigan has an exemption for marijuana smoking in restaurants and bars in its smokefree law. \n * **Restricting youth advertising:** As of September 20, 2022, 17 of 21 states that allow recreational cannabis sales specifically prohibit advertising content that targets children. Despite these restrictions, studies show that some cannabis retailers in states like Washington, Oregon, Alaska, and Colorado emulate Big Tobacco by promoting their products on social media using cartoon characters and branded merchandise. \n * **Buffer zones:** As of September 20, 2022, 12 of 21 states that allow for the sale of recreational cannabis have buffer zones around schools and other child centered locations that restrict where recreational cannabis can be advertised. The distance varies by state, with New Jersey having the smallest buffer zone of 200 feet and Connecticut having the largest buffer zone of 1500 feet. \n * **Flavors:** No states restrict flavors in vaped cannabis. However, several local jurisdictions have included flavored cannabis vapes in their flavored tobacco product restrictions. \n\n## POLICIES NEEDED TO PROTECT YOUNG PEOPLE\n\nAs the number of states that have legalized cannabis in some form continues to\ngrow, and as cannabis usage among younger adults surged due to the COVID-19\npandemic, it is essential to put policies in place that prevent and restrict\nuse among youth. Commonsense regulations, such as minimum age purchasing laws,\nuniversal product standards and restrictions on marketing to young people,\nmust be enacted and enforced to minimize youth use and harmful effects on\ndeveloping brains.\n\n[ Download fact sheet __\n](/sites/default/files/media/files/2024/05/Cannabis%20Fact%20Sheet%202023.pdf)\n\n### More in substance use\n\n[ ](/research-resources/substance-use/new-youth-prescription-drug-safety-\ncurriculum-launches-nationwide)\n\n[ News Article ](/research-resources/type/news-article)\n\n[ New youth prescription drug safety curriculum launches nationwide\n](/research-resources/substance-use/new-youth-prescription-drug-safety-\ncurriculum-launches-nationwide)\n\nSep. 14, **2023**\n\n[ Opioids ](/research-resources/topic/substance-use?subtopic%5B111%5D=111)\n\n[ ](/research-resources/substance-use/truth-opioid-education-campaign-\nincreases-knowledge-lowers-stigma)\n\n[ Research Article ](/research-resources/type/research-article)\n\n[ truth opioid education campaign increases knowledge, lowers stigma\n](/research-resources/substance-use/truth-opioid-education-campaign-increases-\nknowledge-lowers-stigma)\n\nJan. 26, **2022**\n\n[ Opioids ](/research-resources/topic/substance-use?subtopic%5B111%5D=111)\n\n[ ](/research-resources/substance-use/truth-about-opioids)\n\n[ Report ](/research-resources/type/report)\n\n[ The truth about opioids ](/research-resources/substance-use/truth-about-\nopioids)\n\nDec. 14, **2020**\n\n[ Opioids ](/research-resources/topic/substance-use?subtopic%5B111%5D=111)\n\n#### Want support quitting? Join EX Program\n\nEnter your mobile number to join EX Program. You will receive daily texts full\nof tips, advice, and support. Cancel any time by texting \u201cstop\u201d.\n\nBy clicking JOIN, you agree to the [ Terms, Text Message Terms and Privacy\nPolicy. ](https://urldefense.com/v3/__https://www.exprogram.com/terms-of-\nuse/__;!!KaA_j8q37Q!A13f3kqOWqyn_Gj-8rm9k6y3UBwJ0dAoJ_tugMZYWHsDnxZlqF8M6fbr9dAPxSLSJbcf8M3ZJUC0xCvSxez4tcrs9jT_BYbF$) \nMsg&Data rates may apply; msgs are automated.\n\n[ ](/)\n\n900 G Street, NW \nFourth Floor \nWashington, DC 20001 \n**[ 202.454.5555 ](tel:+1202.454.5555) **\n\nFollow us\n\n * [ ](https://www.facebook.com/truthinitiative)\n * [ ](https://twitter.com/truthinitiative)\n * [ ](https://www.linkedin.com/company/truth-initiative)\n * [ ](https://www.instagram.com/truthinitiative)\n\n[ Privacy Policy ](/website-policies) \u00a92025 Truth Initiative All Rights\nReserved\n\n",
"url": "https://truthinitiative.org/research-resources/substance-use/link-between-cannabis-and-tobacco"
},
"reason": "This page from Truth Initiative discusses the link between cannabis and tobacco use and mentions Cronos Group in the context of the cannabis industry. Truth Initiative is a reputable research organization.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' social impact human rights",
"summary": "This page from Truth Initiative discusses the link between cannabis and tobacco use and mentions Cronos Group in the context of the cannabis industry. Truth Initiative is a reputable research organization.",
"url": "https://truthinitiative.org/research-resources/substance-use/link-between-cannabis-and-tobacco"
},
{
"content": {
"metadata": {
"ext_id": "73071e17-1c7e-4204-b795-b51e0249e38c",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2024 Fourth Quarter and Full-Year Results\n\nFebruary 27, 2025 07:30 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Net revenue in Q4 2024 increased by 27% year-over-year to $30.3 million; Net\nrevenue in FY 2024 increased by 35% year-over-year to $117.6 million_\n\n_Spinach_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Canada_ _1_\n\n_PEACE NATURALS_ _\u00ae_ _Ends 2024 as the Number One Cannabis Brand in Israel_\n_2_\n\n_Industry leading balance sheet with_ _$859_ _million in cash_ _and cash\nequivalents_\n\nTORONTO, Feb. 27, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d), today announced its 2024 fourth\nquarter and full-year business results.\n\n\"We set ambitious goals to deliver robust growth, improve margins, and achieve\noperational excellence. Today, I am proud to say that Cronos has not only met\nbut exceeded these objectives, as evidenced by our strong 2024 results. Our\nunwavering commitment to innovation, quality, and disciplined cost management\nhas solidified our leadership in the global cannabis industry,\" said Mike\nGorenstein, Chairman, President and CEO of Cronos.\n\n\"From Spinach _\u00ae_ becoming the number one cannabis brand in Canada and PEACE\nNATURALS _\u00ae_ achieving a number one position in Israel, to our groundbreaking\nadvancements in cannabis genetics, to international expansion, Cronos is well-\npositioned to capitalize on future opportunities and drive long-term value for\nour shareholders. As we look ahead to 2025, we remain focused on sustaining\nthis momentum, strengthening our market leadership, and delivering innovative\nproducts that resonate with consumers worldwide,\" continued Mr. Gorenstein.\n\"Our strategic investments, such as Cronos GrowCo, have enhanced our\ncultivation capabilities, ensuring a consistent supply of high-quality\ncannabis at scale with an improved gross margin profile, while our R&D\nbreakthroughs have set new industry standards. Internationally, we\u2019ve made\nsignificant strides, with PEACE NATURALS _\u00ae_ leading in Israel and gaining\ntraction in Germany and the UK. Combined with a robust balance sheet and a\nportfolio of best-selling, borderless brands, Cronos is not just leading\ntoday, we\u2019re building the foundation for long-term excellence in the global\ncannabis industry. Looking to 2025, we're excited about the opportunities\nahead as we continue to innovate, expand, and deliver for our consumers and\nshareholders.\" \n\n**_Consolidated Financial Results_ **\n\nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\"Cronos GrowCo\") to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo's results from July 1, 2024.\nPrior to this date, the Company's investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its United States (\"U.S.\")\nhemp-derived CBD operations. The exit of the U.S. operations represented a\nstrategic shift, and as such, qualifies for reporting as discontinued\noperations in our condensed consolidated statements of net income (loss) and\ncomprehensive income (loss). Prior period amounts have been reclassified to\nreflect the discontinued operations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three Months Ended December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 28,195 | | | $ | 23,915 | | | $ | 4,280 | | | 18 | % | | $ | 111,241 | | | $ | 87,241 | | | $ | 24,000 | | | 28 | % \nCronos GrowCo net revenue (ii) | | | 2,106 | | | | \u2014 | | | | 2,106 | | | N/A | | | | 6,374 | | | | \u2014 | | | | 6,374 | | | N/A | \nNet Revenue | | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 19,494 | | | | 21,913 | | | | (2,419 | ) | | (11 | )% | | | 91,710 | | | | 74,527 | | | | 17,183 | | | 23 | % \nInventory write-down | | | \u2014 | | | | 89 | | | | (89 | ) | | N/A | | | | 707 | | | | 805 | | | | (98 | ) | | (12 | )% \nGross profit | | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | | 112 | % \nGross margin ( ii i) | | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/A | | | | 5,284 | | | | \u2014 | | | | 5,284 | | | N/A | \nAdjusted Gross Profit (iv) | | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | | 156 | % \nAdjusted Gross Margin (v) | | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | | N/A | | | 12 | pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 43,941 | | | $ | (45,151 | ) | | $ | 89,092 | | | 197 | % | | $ | 40,022 | | | $ | (70,439 | ) | | $ | 110,461 | | | N/M | \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (7,203 | ) | | $ | (14,790 | ) | | $ | 7,587 | | | 51 | % | | $ | (34,942 | ) | | $ | (61,564 | ) | | $ | 26,622 | | | 43 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents ( vi ) | | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | | | | | | | \nShort-term investments ( vi ) | | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | | | | | | \nCapital expenditures (v ii ) | | | 3,708 | | | | 1,792 | | | | 1,916 | | | 107 | % | | | 13,154 | | | | 3,423 | | | | 9,731 | | | 284 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo's net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \"Non-GAAP Measures\" for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\"Adjusted EBITDA\") to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue. See \u201cNon-GAAP Measures\u201d for more information._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\n**Fourth Quarter** **2024**\n\n * Net revenue of $30.3 million in Q4 2024 increased by $6.4 million from Q4 2023. The increase year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $2.1 million of cannabis flower sales in Q4 2024. No such sales were recognized in Q4 2023. \n * Gross profit of $10.8 million in Q4 2024 increased by $8.9 million from Q4 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. Gross profit was positively impacted by $1.8 million in the quarter in connection with the finalization of the purchase accounting for the Cronos GrowCo Transaction, which resulted in a reduction of the fair value of inventory acquired from Cronos GrowCo and the corresponding inventory step-up previously recorded into cost of sales in Q3 2024. No such impact was recognized for 2023. \n * Adjusted gross profit of $9.0 million in Q4 2024 improved by $7.1 million from Q4 2023. The improvement year-over-year was primarily driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and production cost improvements. \n * Adjusted EBITDA of $(7.2) million in Q4 2024 improved by $7.6 million from Q4 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit. \n\n**Full-Year** **2024**\n\n * Net revenue of $117.6 million in full-year 2024 increased by $30.4 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market and higher cannabis flower sales in Israel and other countries. Cronos GrowCo contributed $6.4 million of cannabis flower sales in the year ended December 31, 2024. No such sales were recognized for the year ended December 31, 2023. \n * Gross profit of $25.2 million in full-year 2024 increased by $13.3 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. This increase was partially offset by the impact on cost of sales from the inventory step-up from the Cronos GrowCo Transaction. For 2024, gross profit was reduced $5.3 million as a result of the impact of the inventory step-up from the Cronos GrowCo Transaction that was recorded into cost of sales since July 1, 2024. No such costs were recognized for 2023. \n * Adjusted gross profit of $30.5 million in full-year 2024 increased by $18.6 million from full-year 2023. The increase year-over-year was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel and other countries, and production cost improvements. \n * Adjusted EBITDA of $(34.9) million in full-year 2024 improved by $26.6 million from full-year 2023. The improvement year-over-year was primarily driven by higher adjusted gross profit and lower sales and marketing, research and development, and general administrative expenses. \n\n**_Business Updates_ **\n\n**Brand and Product Portfolio**\n\n__Spinach_ _ \u00ae 3 \nIn 2024, the SOURZ by Spinach \u00ae brand expanded its edible lineup with\nseveral innovative launches. Our industry-leading SOURZ by Spinach \u00ae\nproducts are the best-selling gummies in the Canadian market and have captured\nan impressive 23% market share in Q4 2024, with five of the top ten best-\nselling edibles in Canada coming from the SOURZ lineup. A key addition to our\ngummy portfolio has been the 1-piece, 10mg THC Fully Blasted SOURZ by Spinach\n\u00ae product, which launched in 2024. In Q4 2024 we launched two new Fully\nBlasted flavors, Peach Orange and Strawberry Mango. We also launched a new CBD\nmulti-pack, SOURZ by Spinach \u00ae CBD Berry Variety Pack.\n\nIn 2024 our proprietary genetics breeding program continued to provide our\nportfolio with winning cultivars that allow us to launch differentiated\nproducts across markets and maintain a number one position in the flower\ncategory. In 2024, we introduced Spinach Grindz\u2122, a milled flower offering\nutilizing our Citrus Crush and Cookie Dough strains, designed for convenient\nuse in joints or vaporizers. In Q4 2024, the Spinach \u00ae brand maintained its\nposition as the number one flower brand in Canada, with 5.7% market share.\n\nIn 2024, we introduced two new Spinach \u00ae all-in-one vapes, Pineapple\nParadise and Blueberry Dynamite that are performing well and helping to drive\nmarket share gains. The brand's 0.5g all-in-one Spinach HITZ\u2122 vapes introduced\nnew Pink Lemonade and Rocket Icicle flavors, alongside line extensions in\nSpinach \u00ae 1.2g vapes. Spinach \u00ae vapes were the number four vape brand in\nQ4 2024, holding 5.9% market share. Vape production was brought in-house in\nthe second half of 2024 in an effort to streamline manufacturing and enhance\nproduction efficiency in this category.\n\nIn 2024, we launched Spinach \u00ae Fully Charged pre-rolls and infused pre-rolls\nas well as the Spinach \u00ae Fully Charged Party Pack and the Spinach \u00ae Fully\nCharged Tropical Pack. These launches were the culmination of our product\ndevelopment efforts and portfolio refresh. The infused pre-roll category is\ncontinuing to grow, and we expect this category to be key to future growth for\nboth Cronos and the industry, which is why we are committed to the evolution\nand innovation of our pre-roll portfolio. In Q4 2024, Spinach \u00ae was ranked\nseventh in the pre-roll category with 2.5% market share.\n\n__Lord Jones_ _ __\u00ae_ _ __3_ _ \nIn Q4 2024, Lord Jones \u00ae Chocolates Fusions\u2122 had 9.6% market share and ended\nthe year as the third best-selling chocolate brand in Canada. In January 2025,\nthe brand launched a Lord Jones \u00ae Chocolate Fusions\u2122 fudge brownie flavor,\nwhich features a 1:1:1 ratio of CBN, CBD and THC. Lord Jones \u00ae Chocolate\nFusions\u2122 edibles highlight the brand\u2019s commitment to innovation and\ncraftsmanship, offering four flavors: cookies and cream, dazzle-berry pop,\nsalted caramel crunch and fudge brownie.\n\nIn 2024, we also launched Lord Jones \u00ae live resin vapes featuring\nmeticulously curated cultivars, delivering a rich, full-spectrum experience\nthat combines pure live resin with sleek, high-quality hardware. In the second\nhalf of 2023, we launched Ice Water Hash Fusions pre-rolls, which feature\nflower and terpene-rich ice water hash and are fitted with a branded ceramic\ntip. The Ice Water Hash Fusions pre-rolls continued performing throughout\n2024, rising to the number one position in the hash pre-roll category.\nTogether, these launches underscore the brand\u2019s dedication to excellence and\nits focus on creating exceptional, high-quality cannabis-infused products.\n\n__PEACE NATURALS_ _ __\u00ae_ _ __2_ _ \nIn 2024, Cronos Israel revamped and repositioned its flower portfolio,\noptimizing pricing, potency and bringing new, exciting strains to market to\nmeet patient needs. The PEACE NATURALS \u00ae brand launched new strains\nincluding GG4, Key Limez Punch, Pink Sherb, Tangie Kush, Citra Diesel, Tahoe\nOG Kush and GMO Lite, providing consumers with additional variety and choice.\nIn Q4 2024, PEACE NATURALS \u00ae was the number one flower brand in Israel with\n24% market share and PEACE NATURALS \u00ae cannabis oils are the fourth most\npopular brand in Israel with 9% market share.\n\nIn 2024, Cronos expanded into the United Kingdom (the \"UK\") by shipping its\nfirst batch of PEACE NATURALS \u00ae medical cannabis flower to this emerging\nmarket, through a partnership with a third-party distributor of prescribed\ncannabis products.\n\nThroughout 2024, the Company continued its sales to the German market through\nthe PEACE NATURALS \u00ae brand. Cronos sells the PEACE NATURALS \u00ae brand\nthrough its distribution partner, Cansativa GmbH (\"Cansativa\"), one of the\nleading distributors of medical cannabis in Germany and supplies flower for\nits private-label brand. Cronos has seen strong demand for its proprietary\ngenetics, such as GMO and Wedding Cake, in both Germany and the UK under the\nPEACE NATURALS \u00ae brand.\n\n**Global Supply Chain and Operations**\n\nThe expansion efforts at Cronos GrowCo's facility are well underway. In Q4\n2024, Health Canada approved amendments to the site's perimeter. Cronos GrowCo\nexpects to finish construction of the expanded cultivation and processing\nfacilities in Q2 2025, with first harvests and sales from the area commencing\nin the second half of 2025. Prior to the commencement of sales from the\nexpanded facility, Cronos has the option to purchase up to 80% of Cronos\nGrowCo's total production. Once sales from the expanded area begin, Cronos\nwill have the option to purchase up to 70% of the total production from the\nexpanded facility. The expansion of Cronos GrowCo positions the Company to\ncapitalize on domestic demand and meet international growth opportunities in\nthe global cannabis market.\n\nOn November 26, 2023, the Company announced that Peace Naturals Project Inc.\nhad entered into an agreement to sell and lease back its facility in Stayner,\nOntario (the \"Peace Naturals Campus\"). However, the agreement was terminated\nin the Q2 of 2024 pursuant to its terms, and the Company has decided to\ncontinue and expand its operations at the site.\n\nAs part of the expanding operations at the Peace Naturals Campus, in the\nsecond-half of 2024, the Company invested in machinery, automation and process\nimprovement to drive cost efficiency within the facility. This also included\ninvestment in warehousing and vault expansion as well as R&D equipment and\nlaboratory enhancements.\n\n**_Guidance_ **\n\nThe Company achieved $8.7 million in operating expense savings in 2024 on a\nstandalone basis, meeting its previously announced operating expense savings\ntarget of $5 to $10 million. The savings were primarily driven by lower\nexpenses in general and administrative, research and development and sales and\nmarketing. The operating expense savings exclude the impact of the\nconsolidation of Cronos GrowCo's results into the Company's financial\nstatements.\n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Thursday,\nFebruary 27, 2025, at 8:30 a.m. ET to discuss 2024 Fourth Quarter and Full-\nYear business results. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the live audio webcast are\nprovided on the Company's website at: _https://ir.thecronosgroup.com/events-\npresentations._ \n\n**About Cronos**\n\nCronos is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae . For more information about Cronos and its brands, please\nvisit: thecronosgroup.com.\n\n**Forward-Looking Statements**\n\nThis press release contains information that constitutes forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws and court decisions (collectively, \u201cForward-Looking\nStatements\u201d), which are based upon our current internal expectations,\nestimates, projections, assumptions and beliefs. All information that is not\nclearly historical in nature may constitute Forward-Looking Statements. In\nsome cases, Forward-Looking Statements can be identified by the use of\nforward-looking terminology such as \u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d,\n\u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d, \u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and\nother similar words, expressions and phrases, including negative and\ngrammatical variations thereof, or statements that certain events or\nconditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of strategy. Forward-\nLooking Statements include estimates, plans, expectations, opinions,\nforecasts, projections, targets, guidance or other statements that are not\nstatements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the ongoing impact of the public investigation into Canadian licensed producers of alleged dumping of medical cannabis imports from Canada into Israel by the Trade Levies Commissioner of the Israel Ministry of Economy and Industry (the \u201cAnti-Dumping Investigation\u201d) and the proposed anti-dumping duty to which the Company\u2019s imports would be subject; \n * expectations related to the conflict involving Israel, Hamas, Hezbollah, Houthis, Iran, Iran\u2019s proxies and other stakeholders in the region (the \u201cMiddle East Conflict\u201d) and its impact on our operations in Israel, the supply of product in the market and the demand for product by medical patients in Israel, as well as any regional or global escalations and their impact to global commerce and stability; \n * expectations related to the German, Australian and UK markets, including our strategic partnerships with Cansativa, Vitura Health Limited (\u201cVitura\u201d), and other distributors, respectively, and our ability to successfully distribute the PEACE NATURALS \u00ae brand in Germany and the UK; \n * expectations related to our announcement of cost-cutting measures, including our decision to wind-down operations at our Winnipeg, Manitoba facility and list the facility for sale, the expected costs and benefits from the wind-down of production activities at the facility, challenges and effects related thereto as well as changes in strategy, metrics, investments, costs, operating expenses, employee turnover and other changes with respect thereto; \n * expectations related to the impact of our decision to exit our U.S. hemp-derived cannabinoid product operations; \n * the ongoing impact of our announced realignment (the \u201cRealignment\u201d) and any progress, challenges and effects related thereto as well as changes in strategy, metrics, investments, reporting structure, costs, operating expenses, employee turnover and other changes with respect thereto; \n * our expectations as to the use of the Peace Naturals Campus; \n * our ability to acquire raw materials from suppliers, including Cronos GrowCo, and the costs and timing associated therewith; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments; \n * expectations related to the transaction by which we obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under Accounting Standards Codification 805, and the expansion of Cronos GrowCo\u2019s purpose-built cultivation and processing facilities; \n * our ability or plans to identify, develop, commercialize or expand our technology and R&D initiatives in cannabinoids, or the success thereof; \n * expectations regarding revenues, expenses, gross margins and capital expenditures; \n * expectations regarding our future production and manufacturing strategy and operations, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, including the United States and Germany, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * the grant, renewal, withdrawal, suspension, delay and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our ability to successfully create and launch brands and cannabis products; \n * expectations related to the differentiation of our products, including through the utilization of rare cannabinoids; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis, including CBD and other cannabinoids; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof, including uncertainty regarding the application of U.S. state and federal law to cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products and the scope of any regulations by the U.S. Food and Drug Administration, the U.S. Drug Enforcement Administration, the U.S. Federal Trade Commission, the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over cannabis and U.S. hemp (including CBD and other U.S. hemp-derived cannabinoids) products, including the possibility marijuana is moved from Schedule I to Schedule III under the U.S. Controlled Substances Act; \n * the anticipated benefits and impact of Altria Group Inc.\u2019s investment in the Company (the \u201cAltria Investment\u201d), pursuant to a subscription agreement dated December 7, 2018; \n * uncertainties as to our ability to exercise our option (the \u201cPharmaCann Option\u201d) in PharmaCann Inc. (\u201cPharmaCann\u201d), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S. and our ability to realize the anticipated benefits of the transaction with PharmaCann; \n * expectations regarding the implementation and effectiveness of key personnel changes; \n * expectations regarding business combinations and dispositions and the anticipated benefits therefrom; \n * expectations of the amount or frequency of impairment losses, including as a result of the write-down of intangible assets, including goodwill; \n * the impact of the ongoing military conflict between Russia and Ukraine (and resulting sanctions) on our business, financial condition and results of operations or cash flows; \n * our compliance with the terms of the settlement (the \u201cSettlement Order\u201d) with the SEC and the settlement agreement with the Ontario Securities Commission (the \u201cSettlement Agreement\u201d); and \n * the impact of the loss of our ability to rely on private offering exemptions under Regulation D of the Securities Act of 1933, as amended, and the loss of our status as a well-known seasoned issuer, each as a result of the Settlement Order. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) our ability to effectively navigate\ndevelopments related to the Anti-Dumping Investigation and the proposed anti-\ndumping duty to which the Company\u2019s imports would be subject and its impact on\nour operations in Israel; (ii) our ability to effectively navigate\ndevelopments related to the Middle East Conflict and its impact on our\nemployees and operations in Israel, the supply of product in the market and\ndemand for product by medical patients in Israel; (iii) our ability to\nefficiently and effectively distribute our PEACE NATURALS \u00ae brand in Germany\nwith our strategic partner Cansativa and in the UK with our strategic\ndistribution partner and our ability to efficiently and effectively distribute\nproducts in Australia with our strategic partner Vitura; (iv) our ability to\nrealize the expected cost-savings and other benefits related to the wind-down\nof our operations at our Winnipeg, Manitoba facility; (v) expectations related\nto the impact of our decision to exit our U.S. hemp-derived cannabinoid\nproduct operations; (vi) our ability to realize the expected cost-savings,\nefficiencies and other benefits of our Realignment and other announced cost-\ncutting measures and employee turnover related thereto; (vii) our ability to\nefficiently and effectively manage our operations at our Peace Naturals\nCampus; (viii) our ability efficiently and effectively acquire raw materials\non a timely and cost-effective basis from third parties or Cronos GrowCo; (ix)\nthe timely completion of the expansion of Cronos GrowCo\u2019s purpose-built\ncannabis facility and the ability of Cronos GrowCo to repay the credit\nfacility provided by Cronos; (x) our ability to realize anticipated benefits,\nsynergies or generate revenue, profits or value from our business combinations\nand strategic investments; (xi) the production and manufacturing capabilities\nand output from our facilities and our joint ventures, strategic alliances and\nequity investments; (xii) government regulation of our activities and products\nincluding, but not limited to, the areas of cannabis taxation and\nenvironmental protection; (xiii) the timely receipt of any required regulatory\nauthorizations, approvals, consents, permits and/or licenses; (xiv) consumer\ninterest in our products; (xv) our ability to differentiate our products,\nincluding through the utilization of rare cannabinoids; (xvi) competition;\n(xvii) anticipated and unanticipated costs; (xviii) our ability to generate\ncash flow from operations; (xix) our ability to conduct operations in a safe,\nefficient and effective manner; (xx) our ability to hire and retain qualified\nstaff, and acquire equipment and services in a timely and cost-efficient\nmanner; (xxi) our ability to exercise the PharmaCann Option and realize the\nanticipated benefits of the transaction with PharmaCann; (xxii) our ability to\ncomplete planned dispositions, and, if completed, obtain our anticipated sales\nprice; (xxiii) general economic, financial market, regulatory and political\nconditions in which we operate; (xxiv) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; and (xxv) other\nconsiderations that management believes to be appropriate in the\ncircumstances. While our management considers these assumptions to be\nreasonable based on information currently available to management, there is no\nassurance that such expectations will prove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, negative impacts on our\nbusiness and operations in Israel due to the Anti-Dumping Investigation,\nincluding that we may not be able to produce, import or sell our products in\nIsrael as a result thereof; negative impacts on our employees, business and\noperations in Israel due to the Middle East Conflict, including that we may\nnot be able to produce, import or sell our products or protect our people or\nfacilities in Israel during the Middle East Conflict; the supply of product in\nthe market and the demand for product by medical patients in Israel; that we\nmay not be able to successfully continue to distribute our products in\nGermany, Australia and the UK or generate material revenue from sales in those\nmarkets; that we may not be able to achieve the anticipated benefits of the\nwind-down of our operations at our Winnipeg, Manitoba facility; that we may be\nunable to further streamline our operations and reduce expenses; that we may\nnot be able to effectively and efficiently re-enter the U.S. market in the\nfuture; that we may not be able to access raw materials on a timely and cost-\neffective basis from third-parties or Cronos GrowCo; that Cronos GrowCo may\nnot be able to complete the expansion of its purpose-built cannabis facility\nwithin a reasonable time or repay its borrowings under the credit facility\nprovided by Cronos; that the military conflict between Russia and Ukraine may\ndisrupt our operations and those of our suppliers and distribution channels\nand negatively impact the demand for and use of our products; the risk that\ncost savings and any other synergies from the Altria Investment may not be\nfully realized or may take longer to realize than expected; failure to execute\nkey personnel changes; that our Realignment and our further leveraging of our\nstrategic partnerships will not result in the expected cost-savings,\nefficiencies and other benefits or will result in greater than anticipated\nturnover in personnel; that we may not be able to efficiently and effectively\nmanage our operations, and any changes thereto, at our Peace Naturals Campus;\nlower levels of revenues; the lack of consumer demand for our products; our\ninability to manage disruptions in credit markets; unanticipated future levels\nof capital, environmental or maintenance expenditures, general and\nadministrative and other expenses; failure to realize expected growth\nopportunities; the lack of cash flow necessary to execute our business plan\n(either within the expected timeframe or at all); difficulty raising capital;\nthe potential adverse effects of judicial, regulatory or other proceedings, or\nthreatened litigation or proceedings, on our business, financial condition,\nresults of operations and cash flows; volatility in and/or degradation of\ngeneral economic, market, industry or business conditions; compliance with\napplicable environmental, economic, health and safety, energy and other\npolicies and regulations and in particular health concerns with respect to\nvaping and the use of cannabis and U.S. hemp products in vaping devices; the\nunexpected effects of actions of third parties such as competitors, activist\ninvestors or federal (including U.S. federal), state, provincial, territorial\nor local regulatory authorities or self-regulatory organizations; adverse\nchanges in regulatory requirements in relation to our business and products;\nlegal or regulatory obstacles that could prevent us from being able to\nexercise the PharmaCann Option and thereby realize the anticipated benefits of\nthe transaction with PharmaCann; dilution of our fully-diluted ownership of\nPharmaCann and the loss of our rights as a result of that dilution; our\nfailure to improve our internal control environment and our systems, processes\nand procedures; and the factors discussed under Part I, Item 1A \u201c _Risk\nFactors_ \u201d in our Annual Report on Form 10-K for the year ended December 31,\n2024. Readers are cautioned to consider these and other factors, uncertainties\nand potential events carefully and not to put undue reliance on Forward-\nLooking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as of and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned not to place undue reliance on these Forward-Looking\nStatements because of their inherent uncertainty and to appreciate the limited\npurposes for which they are being used by management. While we believe that\nthe assumptions and expectations reflected in the Forward-Looking Statements\nare reasonable based on information currently available to management, there\nis no assurance that such assumptions and expectations will prove to have been\ncorrect. Forward-Looking Statements are made as of the date they are made and\nare based on the beliefs, estimates, expectations and opinions of management\non that date. We undertake no obligation to update or revise any Forward-\nLooking Statements, whether as a result of new information, estimates or\nopinions, future events or results or otherwise or to explain any material\ndifference between subsequent actual events and such Forward-Looking\nStatements. The Forward-Looking Statements contained in this press release and\nother reports we file with, or furnish to, the SEC and other regulatory\nagencies and made by our directors, officers, other employees and other\npersons authorized to speak on our behalf are expressly qualified in their\nentirety by these cautionary statements.\n\n____________________________________________ \n1 Hifyre Retail Analytics - National Retail Dollar by Brand in Canada -\nDecember 2024. \n2 Market share and ranking information from pharmacy data collected by Cronos\n- December 2024. \n3 All market share and ranking information from Hifyre Retail Analytics -\nNational Retail Dollar by Brand in Canada - December 2024, unless otherwise\nspecified. \n \n--- \n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n_(In thousands of U.S. dollars)_ \n| **As of December 31,** \n| | **2024** | | | | **2023** | \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | \nShort-term investments | | \u2014 | | | | 192,237 | \nAccounts receivable, net | | 15,462 | | | | 13,984 | \nInterest receivable | | 8,690 | | | | 10,012 | \nOther receivables | | 5,000 | | | | 6,341 | \nCurrent portion of loans receivable, net | | 618 | | | | 5,541 | \nInventory, net | | 33,149 | | | | 30,495 | \nPrepaids and other current assets | | 6,277 | | | | 5,405 | \nHeld-for-sale assets | | 8,112 | | | | \u2014 | \nTotal current assets | | 936,113 | | | | 933,306 | \nEquity method investments, net | | \u2014 | | | | 19,488 | \nOther investments | | 2,813 | | | | 35,251 | \nNon-current portion of loans receivable, net | | 15,526 | | | | 69,036 | \nProperty, plant and equipment, net | | 133,189 | | | | 59,468 | \nRight-of-use assets | | 1,390 | | | | 1,356 | \nGoodwill | | 63,453 | | | | 1,057 | \nIntangible assets, net | | 11,257 | | | | 21,078 | \nDeferred tax assets | | 2,571 | | | | 226 | \n**Total assets** | $ | 1,166,312 | | | $ | 1,140,266 | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable | $ | 16,973 | | | $ | 12,130 | \nIncome taxes payable | | 9 | | | | 64 | \nAccrued liabilities | | 31,653 | | | | 27,736 | \nCurrent portion of lease obligation | | 1,025 | | | | 994 | \nDerivative liabilities | | 40 | | | | 102 | \nCurrent portion due to non-controlling interests | | \u2014 | | | | 373 | \nTotal current liabilities | | 49,700 | | | | 41,399 | \nNon-current portion due to non-controlling interests | | 1,073 | | | | 1,003 | \nNon-current portion of lease obligation | | 993 | | | | 1,559 | \nDeferred tax liabilities | | 3,564 | | | | 181 | \n**Total liabilities** | | 55,330 | | | | 44,142 | \n**Shareholders\u2019 equity** | | | \nShare capital and additional paid-in capital | | 669,879 | | | | 662,174 | \nRetained earnings | | 457,709 | | | | 416,719 | \nAccumulated other comprehensive income (loss) | | (63,525 | ) | | | 20,678 | \nTotal equity attributable to shareholders of Cronos Group | | 1,064,063 | | | | 1,099,571 | \nNon-controlling interests | | 46,919 | | | | (3,447 | ) \n**Total shareholders\u2019 equity** | | 1,110,982 | | | | 1,096,124 | \n**Total liabilities and shareholders\u2019 equity** | $ | 1,166,312 | | | $ | 1,140,266 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n_(In thousands of U.S. dollars, except share and per share amounts)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Net revenue, before excise taxes** | $ | 161,821 | | | $ | 120,270 | | | $ | 109,301 | \nExcise taxes | | (44,206 | ) | | | (33,029 | ) | | | (22,552 | ) \n**Net revenue** | | 117,615 | | | | 87,241 | | | | 86,749 | \nCost of sales | | 91,710 | | | | 74,527 | | | | 71,313 | \nInventory write-down | | 707 | | | | 805 | | | | \u2014 | \n**Gross profit** | | 25,198 | | | | 11,909 | | | | 15,436 | \n**Operating expenses** | | | | | \nSales and marketing | | 21,603 | | | | 22,701 | | | | 18,046 | \nResearch and development | | 4,229 | | | | 5,843 | | | | 13,131 | \nGeneral and administrative | | 46,514 | | | | 49,475 | | | | 67,674 | \nRestructuring costs | | 630 | | | | 1,524 | | | | 3,545 | \nShare-based compensation | | 8,700 | | | | 8,756 | | | | 15,008 | \nDepreciation and amortization | | 3,701 | | | | 5,044 | | | | 5,967 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,366 | | | | 3,493 | \nTotal operating expenses | | 101,727 | | | | 96,709 | | | | 126,864 | \nOperating loss | | (76,529 | ) | | | (84,800 | ) | | | (111,428 | ) \n**Other income (expense)** | | | | | \nInterest income, net | | 52,019 | | | | 51,235 | | | | 22,514 | \nGain (loss) on revaluation of derivative liabilities | | 49 | | | | (85 | ) | | | 14,060 | \nShare of income from equity method investments | | 2,365 | | | | 1,583 | | | | 3,114 | \nGain on revaluation of loan receivable | | 11,804 | | | | \u2014 | | | | \u2014 | \nGain on revaluation of equity method investment | | 32,469 | | | | \u2014 | | | | \u2014 | \nGain (loss) on revaluation of financial instruments | | (6,248 | ) | | | (12,042 | ) | | | 14,739 | \nImpairment loss on other investments | | (25,650 | ) | | | (23,350 | ) | | | (61,392 | ) \nForeign currency transaction gain (loss) | | 57,859 | | | | (7,324 | ) | | | (2,286 | ) \nLoss on held-for-sale assets | | (11,202 | ) | | | \u2014 | | | | \u2014 | \nOther, net | | (350 | ) | | | 1,114 | | | | (324 | ) \nTotal other income (expense) | | 113,115 | | | | 11,131 | | | | (9,575 | ) \nIncome (loss) before income taxes | | 36,586 | | | | (73,669 | ) | | | (121,003 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | (3,230 | ) | | | 34,175 | \nIncome (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | (155,178 | ) \nLoss from discontinued operations | | \u2014 | | | | (4,114 | ) | | | (13,556 | ) \nNet income (loss) | | 40,022 | | | | (74,553 | ) | | | (168,734 | ) \nNet income (loss) attributable to non-controlling interest | | (1,058 | ) | | | (590 | ) | | | \u2014 | \nNet income (loss) attributable to Cronos Group | $ | 41,080 | | | $ | (73,963 | ) | | $ | (168,734 | ) \n| | | | | \n**Comprehensive income (loss)** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nOther comprehensive income (loss) | | | | | \nForeign exchange gain (loss) on translation | | (86,321 | ) | | | 21,539 | | | | (50,616 | ) \nComprehensive income (loss) | | (46,299 | ) | | | (53,014 | ) | | | (219,350 | ) \nComprehensive income (loss) attributable to non-controlling interest | | (3,176 | ) | | | (526 | ) | | | 46 | \n**Comprehensive income (loss) attributable to Cronos Group** | $ | (43,123 | ) | | $ | (52,488 | ) | | $ | (219,396 | ) \n| | | | | \n**Net income (loss) per share** | | | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n| | | | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.18 | ) | | $ | (0.41 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | (0.01 | ) | | $ | (0.04 | ) \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.19 | ) | | $ | (0.45 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | | 382,058,056 | | | | 380,964,739 | | | | 376,961,797 | \nDiluted | | 385,557,002 | | | | 380,964,739 | | | | 376,961,797 | \n \n \n\n| **Three months ended December 31,** \n---|--- \n| | **2024** | | | | **2023** | \n**Net revenue, before excise taxes** | $ | 41,182 | | | $ | 34,006 | \nExcise taxes | | (10,881 | ) | | | (10,091 | ) \n**Net revenue** | | 30,301 | | | | 23,915 | \nCost of sales | | 19,494 | | | | 21,913 | \nInventory write-down | | \u2014 | | | | 89 | \n**Gross profit** | | 10,807 | | | | 1,913 | \n**Operating expenses** | | | \nSales and marketing | | 6,413 | | | | 6,367 | \nResearch and development | | 1,028 | | | | 1,451 | \nGeneral and administrative | | 12,080 | | | | 9,802 | \nRestructuring costs | | \u2014 | | | | 101 | \nShare-based compensation | | 2,187 | | | | 1,933 | \nDepreciation and amortization | | 464 | | | | 529 | \nImpairment loss on long-lived assets | | \u2014 | | | | 3,366 | \nTotal operating expenses | | 22,172 | | | | 23,549 | \nOperating loss | | (11,365 | ) | | | (21,636 | ) \n**Other income (expense)** | | | \nInterest income, net | | 11,863 | | | | 14,214 | \nGain (loss) on revaluation of derivative liabilities | | 142 | | | | (71 | ) \nShare of income from equity method investments | | \u2014 | | | | 752 | \nGain (loss) on revaluation of financial instruments | | 302 | | | | (4,186 | ) \nImpairment loss on other investments | | \u2014 | | | | (23,350 | ) \nForeign currency transaction gain (loss) | | 45,489 | | | | (11,323 | ) \nLoss on held-for-sale assets | | (780 | ) | | | \u2014 | \nOther, net | | 294 | | | | 89 | \nTotal other income (expense) | | 57,310 | | | | (23,875 | ) \nIncome (loss) before income taxes | | 45,945 | | | | (45,511 | ) \nIncome tax expense (benefit) | | 2,004 | | | | (360 | ) \nIncome (loss) from continuing operations | | 43,941 | | | | (45,151 | ) \nLoss from discontinued operations | | \u2014 | | | | 124 | \nNet income (loss) | | 43,941 | | | | (45,027 | ) \nNet loss attributable to non-controlling interest | | 212 | | | | (237 | ) \nNet income (loss) attributable to Cronos Group | $ | 43,729 | | | $ | (44,790 | ) \n**Comprehensive loss** | | | \nNet income (loss) | $ | 43,941 | | | $ | (45,027 | ) \nOther comprehensive income (loss) | | | \nForeign exchange gain (loss) on translation | | (66,208 | ) | | | 22,635 | \nComprehensive loss | | (22,267 | ) | | | (22,392 | ) \nComprehensive loss attributable to non-controlling interest | | (2,832 | ) | | | (390 | ) \n**Comprehensive loss attributable to Cronos Group** | $ | (19,435 | ) | | $ | (22,002 | ) \n| | | \n**Net income (loss) per share** | | | \nBasic - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nBasic - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nBasic net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n| | | \nDiluted - continuing operations | $ | 0.11 | | | $ | (0.12 | ) \nDiluted - discontinued operations | $ | \u2014 | | | $ | \u2014 | \nDiluted net income (loss) per share attributable to Cronos Group | $ | 0.11 | | | $ | (0.12 | ) \n**Weighted average number of outstanding shares** | | | \nBasic | | 382,340,893 | | | | 381,155,824 | \nDiluted | | 386,525,110 | | | | 381,155,824 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n_(In thousands of U.S. dollars)_ \n--- \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Operating activities** | | | | | \nNet income (loss) | $ | 40,022 | | | $ | (74,553 | ) | | $ | (168,734 | ) \nAdjustments to reconcile net income (loss) to net cash provided by (used in) operating activities: | | | | | \nShare-based compensation | | 8,700 | | | | 8,769 | | | | 15,115 | \nDepreciation and amortization | | 9,336 | | | | 8,110 | | | | 13,122 | \nImpairment loss on long-lived assets | | 16,350 | | | | 3,571 | | | | 3,493 | \nImpairment loss on other investments | | 25,650 | | | | 23,350 | | | | 61,392 | \nLoss (income) from investments | | 3,841 | | | | 10,513 | | | | (17,853 | ) \nLoss (gain) on revaluation of derivative liabilities | | (49 | ) | | | 85 | | | | (14,060 | ) \nChanges in expected credit losses on long-term financial assets | | 1,032 | | | | (1,528 | ) | | | (662 | ) \nRevaluation of equity method investment | | (32,469 | ) | | | \u2014 | | | | \u2014 | \nRevaluation of loan receivable | | (11,804 | ) | | | \u2014 | | | | \u2014 | \nLoss on held-for-sale assets | | 11,202 | | | | \u2014 | | | | \u2014 | \nInventory step-up recorded to cost of sales | | 5,284 | | | | \u2014 | | | | \u2014 | \nForeign currency transaction (gain) loss | | (57,859 | ) | | | 7,324 | | | | 2,286 | \nOther non-cash operating activities, net | | (82 | ) | | | (2,008 | ) | | | 1,294 | \nChanges in operating assets and liabilities: | | | | | \nAccounts receivable, net | | (917 | ) | | | 9,206 | | | | (2,711 | ) \nInterest receivable | | (3,656 | ) | | | (14,344 | ) | | | (6,985 | ) \nOther receivables | | 2,059 | | | | (1,449 | ) | | | 1,148 | \nPrepaids and other current assets | | (512 | ) | | | 1,437 | | | | 996 | \nInventory, net | | 7,417 | | | | 7,399 | | | | (7,217 | ) \nAccounts payable | | (7,449 | ) | | | (773 | ) | | | (863 | ) \nIncome taxes payable | | (93 | ) | | | (33,104 | ) | | | 34,212 | \nAccrued liabilities | | 2,840 | | | | 5,160 | | | | (2,921 | ) \nNet cash provided by (used in) operating activities | | 18,843 | | | | (42,835 | ) | | | (88,948 | ) \n| | | | | \n**Investing activities** | | | | | \nProceeds from short-term investments | | 185,817 | | | | 532,838 | | | | 268,870 | \nPurchase of short-term investments | | \u2014 | | | | (608,247 | ) | | | (271,378 | ) \nCash acquired in business combination | | 5,993 | | | | \u2014 | | | | \u2014 | \nDividends received from equity method investee | | \u2014 | | | | 1,297 | | | | \u2014 | \nDividend proceeds | | \u2014 | | | | 345 | | | | 384 | \nAdvances on loans receivable | | (8,759 | ) | | | \u2014 | | | | \u2014 | \nRepayments on loans receivable | | 5,252 | | | | 16,831 | | | | 5,246 | \nPurchase of property, plant and equipment, net of disposals | | (12,411 | ) | | | (2,505 | ) | | | (3,451 | ) \nPurchase of intangible assets, net of disposals | | (743 | ) | | | (918 | ) | | | (1,581 | ) \nOther investing activities | | \u2014 | | | | 860 | | | | 68 | \nNet cash provided by (used in) investing activities | | 175,149 | | | | (59,499 | ) | | | (1,842 | ) \n| **Year ended December 31,** \n| | **2024** | | | | **2023** | | | | **2022** | \n**Financing activities** | | | | | \nWithholding taxes paid on equity awards | | (1,231 | ) | | | (1,030 | ) | | | (2,829 | ) \nOther financing activities, net | | \u2014 | | | | \u2014 | | | | (68 | ) \nNet cash used in financing activities | | (1,231 | ) | | | (1,030 | ) | | | (2,897 | ) \nEffect of foreign currency translation on cash and cash equivalents | | (3,247 | ) | | | 8,011 | | | | (28,642 | ) \nNet change in cash and cash equivalents | | 189,514 | | | | (95,353 | ) | | | (122,329 | ) \nCash and cash equivalents, beginning of period | | 669,291 | | | | 764,644 | | | | 886,973 | \nCash and cash equivalents, end of period | $ | 858,805 | | | $ | 669,291 | | | $ | 764,644 | \n| | | | | \n**Supplementary cash flow information:** | | | | | \nInterest paid | | \u2014 | | | | \u2014 | | | | \u2014 | \nInterest received | | 48,399 | | | | 36,501 | | | | 15,548 | \nTaxes paid | | 647 | | | | 33,013 | | | | 177 | \n| | | | | | | | | | | \n \n**Non-GAAP Measures**\n\nCronos reports its financial results in accordance with Generally Accepted\nAccounting Principles in the United States (\u201cU.S. GAAP\u201d). This press release\nrefers to measures not recognized under U.S. GAAP (\u201cnon-GAAP measures\u201d). These\nnon-GAAP measures do not have a standardized meaning prescribed by U.S. GAAP\nand are therefore unlikely to be comparable to similar measures presented by\nother companies. Rather, these non-GAAP measures are provided as a supplement\nto corresponding U.S. GAAP measures to provide additional information\nregarding the results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith U.S. GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported U.S. GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding U.S. GAAP measures are\nprovided below.\n\n_Adjusted EBITDA_\n\nManagement reviews Adjusted EBITDA, a non-GAAP measure, which excludes non-\ncash items and items that do not reflect management\u2019s assessment of ongoing\nbusiness performance. Management defines Adjusted EBITDA as net income (loss)\nbefore interest, tax expense (benefit), depreciation and amortization adjusted\nfor: share of (income) loss from equity method investments; impairment loss on\ngoodwill and intangible assets; impairment loss on long-lived assets; (gain)\nloss on revaluation of derivative liabilities; (gain) loss on revaluation of\nfinancial instruments; gain on revaluation of loan receivable; gain on\nrevaluation of equity method investment; transaction costs related to\nstrategic projects; loss on held-for-sale assets; impairment loss on other\ninvestments; foreign currency transaction loss; other, net; loss from\ndiscontinued operations; restructuring costs; inventory write-downs resulting\nfrom restructuring actions; share-based compensation; costs related to the\nAnti-Dumping Investigation; purchase accounting adjustment-related inventory\nstep-up adjustments recorded through cost of sales; and financial statement\nreview costs and reserves related to the restatements of our 2019 and 2021\ninterim financial statements (the \u201cRestatements\u201d), including the costs related\nto the settlement of the SEC\u2019s and the OSC\u2019s investigations of the\nRestatements and legal costs of defending shareholder class action complaints\nbrought against us as a result of the 2019 restatement (see Note 12(b)\n\u201cContingencies,\u201d to the consolidated financial statements under Item 8 of the\nCompany's Annual Report on Form 10-K for the year ended December 31, 2024 for\na discussion of the shareholder class action complaints relating to the\nrestatement of the 2019 interim financial statements and the settlement of the\nSEC\u2019s and the OSC\u2019s investigations of the Restatements). Results are reported\nas total consolidated results, reflecting our reporting structure of one\nreportable segment.\n\nManagement believes that Adjusted EBITDA provides the most useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of period-over-period results. Management uses Adjusted EBITDA for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets. \n\nAdjusted EBITDA is reconciled to net income (loss) as follows:\n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 40,022 | | | $ | \u2014 | | $ | 40,022 | \nInterest income, net | | (52,019 | ) | | | \u2014 | | | (52,019 | ) \nIncome tax expense (benefit) | | (3,436 | ) | | | \u2014 | | | (3,436 | ) \nDepreciation and amortization | | 9,336 | | | | \u2014 | | | 9,336 | \nEBITDA | | (6,097 | ) | | | \u2014 | | | (6,097 | ) \nShare of income from equity method investments | | (2,365 | ) | | | \u2014 | | | (2,365 | ) \nImpairment loss on long-lived assets (i) | | 16,350 | | | | \u2014 | | | 16,350 | \nRevaluation gain on loan receivable (ii) | | (11,804 | ) | | | \u2014 | | | (11,804 | ) \nGain on revaluation of equity method investment (iii) | | (32,469 | ) | | | \u2014 | | | (32,469 | ) \nGain on revaluation of derivative liabilities (iv) | | (49 | ) | | | \u2014 | | | (49 | ) \nLoss on revaluation of financial instruments (v) | | 6,248 | | | | \u2014 | | | 6,248 | \nImpairment loss on other investments (vi) | | 25,650 | | | | \u2014 | | | 25,650 | \nForeign currency transaction gain | | (57,859 | ) | | | \u2014 | | | (57,859 | ) \nTransaction costs (vii) | | 701 | | | | \u2014 | | | 701 | \nLoss on held-for-sale assets (viii) | | 11,202 | | | | \u2014 | | | 11,202 | \nOther, net (ix) | | 350 | | | | \u2014 | | | 350 | \nRestructuring costs (x) | | 630 | | | | \u2014 | | | 630 | \nShare-based compensation (xi) | | 8,700 | | | | \u2014 | | | 8,700 | \nFinancial statement review costs (xii) | | (1 | ) | | | \u2014 | | | (1 | ) \nInventory step-up recorded to cost of sales (xiv) | | 5,284 | | | | \u2014 | | | 5,284 | \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (34,942 | ) | | $ | \u2014 | | $ | (34,942 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **For the year ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (70,439 | ) | | $ | (4,114 | ) | | $ | (74,553 | ) \nInterest income, net | | (51,235 | ) | | | (10 | ) | | | (51,245 | ) \nIncome tax expense (benefit) | | (3,230 | ) | | | \u2014 | | | | (3,230 | ) \nDepreciation and amortization | | 7,866 | | | | 244 | | | | 8,110 | \nEBITDA | | (117,038 | ) | | | (3,880 | ) | | | (120,918 | ) \nShare of income from equity method investments | | (1,583 | ) | | | \u2014 | | | | (1,583 | ) \nImpairment loss on long-lived assets (i) | | 3,366 | | | | 205 | | | | 3,571 | \nLoss on revaluation of derivative liabilities (iv) | | 85 | | | | \u2014 | | | | 85 | \nLoss on revaluation of financial instruments (v) | | 12,042 | | | | \u2014 | | | | 12,042 | \nImpairment loss on other investments (vi) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 7,324 | | | | \u2014 | | | | 7,324 | \nOther, net (ix) | | (1,114 | ) | | | 118 | | | | (996 | ) \nRestructuring costs (x) | | 1,524 | | | | 523 | | | | 2,047 | \nShare-based compensation (xi) | | 8,756 | | | | 13 | | | | 8,769 | \nFinancial statement review costs (xii) | | 919 | | | | \u2014 | | | | 919 | \nInventory write-down (xiii) | | 805 | | | | 839 | | | | 1,644 | \nAdjusted EBITDA | $ | (61,564 | ) | | $ | (2,182 | ) | | $ | (63,746 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2024** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet income | $ | 43,941 | | | $ | \u2014 | | $ | 43,941 | \nInterest income, net | | (11,863 | ) | | | \u2014 | | | (11,863 | ) \nIncome tax expense (benefit) | | 2,004 | | | | \u2014 | | | 2,004 | \nDepreciation and amortization | | 2,525 | | | | \u2014 | | | 2,525 | \nEBITDA | | 36,607 | | | | \u2014 | | | 36,607 | \nGain on revaluation of derivative liabilities (i v ) | | (142 | ) | | | \u2014 | | | (142 | ) \nGain on revaluation of financial instruments ( v ) | | (302 | ) | | | \u2014 | | | (302 | ) \nForeign currency transaction gain | | (45,489 | ) | | | \u2014 | | | (45,489 | ) \nTransaction costs (vii) | | 171 | | | | \u2014 | | | 171 | \nLoss on held-for-sale assets ( v iii) | | 780 | | | | \u2014 | | | 780 | \nOther, net ( ix ) | | (294 | ) | | | \u2014 | | | (294 | ) \nShare-based compensation ( xi ) | | 2,187 | | | | \u2014 | | | 2,187 | \nFinancial statement review costs ( xii ) | | 524 | | | | \u2014 | | | 524 | \nInventory step-up recorded to cost of sales (xi v) | | (1,832 | ) | | | \u2014 | | | (1,832 | ) \nIsrael Ministry of Economy and Industry dumping inquiry (xv) | | 587 | | | | \u2014 | | | 587 | \nAdjusted EBITDA | $ | (7,203 | ) | | $ | \u2014 | | $ | (7,203 | ) \n \n \n\n_(in thousands of U.S. dollars)_ | **Three months ended December 31, 2023** \n---|--- \n| **Continuing \nOperations ** | | **Discontinued \nOperations ** | | **Total** \nNet loss | $ | (45,151 | ) | | $ | 124 | | | $ | (45,027 | ) \nInterest income, net | | (14,214 | ) | | | (1 | ) | | | (14,215 | ) \nIncome tax expense (benefit) | | (360 | ) | | | \u2014 | | | | (360 | ) \nDepreciation and amortization | | 1,177 | | | | \u2014 | | | | 1,177 | \nEBITDA | | (58,548 | ) | | | 123 | | | | (58,425 | ) \nShare of income from equity method investments | | (752 | ) | | | \u2014 | | | | (752 | ) \nImpairment loss on long-lived assets (i ) | | 3,366 | | | | \u2014 | | | | 3,366 | \nLoss on revaluation of derivative liabilities (i v ) | | 71 | | | | \u2014 | | | | 71 | \nLoss on revaluation of financial instruments ( v ) | | 4,186 | | | | \u2014 | | | | 4,186 | \nImpairment loss on other investments (vi ) | | 23,350 | | | | \u2014 | | | | 23,350 | \nForeign currency transaction loss | | 11,323 | | | | \u2014 | | | | 11,323 | \nOther, net (i x ) | | (89 | ) | | | (14 | ) | | | (103 | ) \nRestructuring costs ( x) | | 101 | | | | (39 | ) | | | 62 | \nShare-based compensation ( xi ) | | 1,933 | | | | (4 | ) | | | 1,929 | \nFinancial statement review costs ( xii ) | | 180 | | | | \u2014 | | | | 180 | \nInventory write-down ( xiii ) | | 89 | | | | \u2014 | | | | 89 | \nAdjusted EBITDA | $ | (14,790 | ) | | $ | 66 | | | $ | (14,724 | ) \n \n(i) For the year ended December 31, 2024, impairment loss on long-lived\nassets included $14,258 related to the write-down of our Ginkgo Exclusive\nLicenses and $1,631 related to the cessation of operations of Thanos Holdings\nLtd., known as Cronos Fermentation (\u201cCronos Fermentation\u201d). For the year ended\nDecember 31, 2023, impairment loss on long-lived assets related to certain\nleased properties associated with the Company\u2019s former U.S. operations and\nimpairment of the Company's CBCVA exclusive license under the collaboration\nand license agreement between Ginkgo and the Company. \n(ii) For the year ended December 31, 2024, a revaluation gain on loan\nreceivable was recognized as a result of the Cronos GrowCo Transaction on July\n1, 2024. \n(iii) For the year ended December 31, 2024, a gain on revaluation of equity\nmethod investment was recognized as a result of the Cronos GrowCo Transaction\non July 1, 2024. \n(iv) For the three months and years ended December 31, 2024 and 2023, the\n(gain) loss on revaluation of derivative liabilities represented the fair\nvalue changes on the derivative liabilities. \n(v) For the three months and years ended December 31, 2024 and 2023, (gain)\nloss on revaluation of financial instruments related primarily to our\nunrealized holding (gain) or loss (as applicable) on our mark-to-market\ninvestment in Vitura as well as revaluations of financial liabilities\nresulting from deferred share units granted to directors. \n(vi) For the years ended December 31, 2024 and 2023 and the three months\nended December 31, 2023, impairment loss on other investments related to the\nPharmaCann Option for the difference between its fair value and carrying\namount. \n(vii) For the year and three months ended December 31, 2024, transaction\ncosts represented legal, financial and other advisory fees and expenses\nincurred in connection with the Cronos GrowCo Transaction. These costs are\nincluded in general and administrative expenses on the consolidated statements\nof net income (loss) and comprehensive income (loss). \n(viii) For the year ended December 31, 2024, a loss on held-for-sale assets\nwas recognized as a result of the change in the Company\u2019s sales strategy for\nthe Cronos Fermentation assets to market the assets to a broader buyer pool.\nFor the quarter ended December 31, 2024, a loss on held-for-sale assets was\nrecognized to adjust the net book value of Cronos Fermentation to fair value. \n(ix) For the three months and years ended December 31, 2024 and 2023, other,\nnet primarily related to (gain) loss on disposal of assets. \n(x) For the year ended December 31, 2024, restructuring costs from continuing\noperations related to shutdown costs at the Cronos Fermentation Facility, as\nwell as employee-related severance costs associated with the Realignment. For\nthe year and three months ended December 31, 2023, restructuring costs related\nto the employee-related severance costs and other restructuring costs\nassociated with the Realignment. \n(xi) For the three months and years ended December 31, 2024 and 2023, share-\nbased compensation related to the vesting expenses of share-based compensation\nawarded to employees under our share-based award plans. \n(xii) For the three months and years ended December 31, 2024 and 2023,\nfinancial statement review costs included costs related to the Restatements,\ncosts related to the Company\u2019s responses to requests for information from\nvarious regulatory authorities relating to the Restatements, the costs related\nto the Settlement Order and Settlement Agreement and legal costs defending\nshareholder class action complaints brought against the Company as a result of\nthe 2019 restatement, as well as related insurance reimbursements. \n(xiii) For the three months and year ended December 31, 2023, inventory\nwrite-downs from discontinued operations relate to product destruction and\nobsolescence associated with the exit of our U.S. operations and inventory\nwrite-downs from continuing operations relate to product destruction and\nobsolescence associated with the planned exit of Cronos Fermentation. \n(xiv) For the three months and year ended December 31, 2024, inventory step-\nup recorded to cost of sales represented the portion of the inventory step-up\nfrom the Cronos GrowCo Transaction that was recorded through the consolidated\nstatements of income (loss) and comprehensive income (loss). \n(xv) For the three months and year ended December 31, 2024, Israel Ministry\nof Economy and Industry dumping inquiry expense included expenditures relating\nto the regulatory inquiry about alleged dumping of medical cannabis products\nin Israel and related litigation and external relations expenses.\n\n**_Adjusted Gross Profit and Adjusted Gross Margin_ **\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented Adjusted Gross Profit and Adjusted Gross\nMargin, non-GAAP measures that exclude the impacts of inventory-related\npurchase accounting adjustments from the calculations of gross profit and\ngross margin, which resulted from the Cronos GrowCo Transaction. Results are\nreported as total consolidated results, reflecting our reporting structure of\none reportable segment.\n\nManagement believes that Adjusted Gross Profit and Adjusted Gross Margin\nprovide useful insight into underlying business trends to facilitate\ncomparisons of period-over-period results by removing the impacts of\ninventory-related purchase accounting adjustments resulting from the Cronos\nGrowCo Transaction, which reflect a one-time event and do not reflect\nmanagement\u2019s assessment of ongoing business performance.\n\n_(in thousands of U.S. dollars)_ | **Three months ended \nDecember 31, ** | | **Change** | | **Year ended \nDecember 31, ** | | **Change** \n---|---|---|---|---|---|---|--- \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | 35 | % \n| | | | | | | | | | | | | | | \nGross profit | $ | 10,807 | | | $ | 1,913 | | | $ | 8,894 | | | 465 | % | | $ | 25,198 | | | $ | 11,909 | | | $ | 13,289 | | 112 | % \nInventory step-up recorded to cost of sales | | (1,832 | ) | | | \u2014 | | | | (1,832 | ) | | N/M | | | | 5,284 | | | | \u2014 | | | | 5,284 | | N/M | \nAdjusted Gross Profit | $ | 8,975 | | | $ | 1,913 | | | $ | 7,062 | | | 369 | % | | $ | 30,482 | | | $ | 11,909 | | | $ | 18,573 | | 156 | % \n| | | | | | | | | | | | | | | \nGross margin (i) | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 21 | % | | | 14 | % | | N/A | | 7 | pp \nAdjusted Gross Margin (ii) | | 30 | % | | | 8 | % | | | N/A | | | 22 | pp | | | 26 | % | | | 14 | % | | N/A | | 12 | pp \n| | | | | | | | | | | | | | | \n \n(i) Gross margin is defined as gross profit divided by net revenue. \n(ii) Adjusted Gross Margin is defined as Adjusted Gross Profit divided by net\nrevenue.\n\n_Constant Currency_\n\nTo supplement the consolidated financial statements presented in accordance\nwith U.S. GAAP, we have presented constant currency adjusted financial\nmeasures for net revenues, gross profit, gross profit margin, operating\nexpenses, net income (loss) and Adjusted EBITDA for 2024, as well as cash and\ncash equivalents and short-term investment balances as of December 31, 2024\ncompared to December 31, 2023, which are considered non-GAAP financial\nmeasures. We present constant currency information to provide a framework for\nassessing how our underlying operations performed excluding the effect of\nforeign currency rate fluctuations. To present this information, current and\nprior period income statement results in currencies other than U.S. dollars\nare converted into U.S. dollars using the average exchange rates from the\ncomparative period in 2023 rather than the actual average exchange rates in\neffect during 2024; constant currency current period balance sheet information\nis translated at the prior year-end spot rate rather than the current year-end\nspot rate. All growth comparisons relate to the corresponding period in 2023.\nWe have provided this non-GAAP financial information to aid investors in\nbetter understanding the performance of our business. The non-GAAP financial\nmeasures presented in this press release should not be considered as a\nsubstitute for, or superior to, the measures of financial performance prepared\nin accordance with U.S. GAAP.\n\nThe table below sets forth certain measures of consolidated results from\ncontinuing operations on an as-reported and constant currency basis for 2024\ncompared to 2023, as well as cash and cash equivalents and short-term\ninvestments as of December 31, 2024, compared to December 31, 2023, on an as-\nreported and constant currency basis (in thousands):\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended December 31,** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 30,301 | | | $ | 23,915 | | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | | $ | 6,612 | | | 28 | % \nGross profit | | 10,807 | | | | 1,913 | | | | 8,894 | | | 465 | % | | | 10,914 | | | | 9,001 | | | 471 | % \nGross margin | | 36 | % | | | 8 | % | | | N/A | | | 28 | pp | | | 36 | % | | | N/A | | | 28 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 22,172 | | | | 23,549 | | | | (1,377 | ) | | (6 | )% | | | 22,557 | | | | (992 | ) | | (4 | )% \nNet income (loss) from continuing operations | | 43,941 | | | | (45,151 | ) | | | 89,092 | | | N/M | | | | 44,431 | | | | 89,582 | | | N/M | \nAdjusted EBITDA | | (7,203 | ) | | | (14,790 | ) | | | 7,587 | | | 51 | % | | | (7,869 | ) | | | 6,921 | | | 47 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nNet revenue | $ | 117,615 | | | $ | 87,241 | | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | | $ | 31,742 | | | 36 | % \nGross profit | | 25,198 | | | | 11,909 | | | | 13,289 | | | 112 | % | | | 25,505 | | | | 13,596 | | | 114 | % \nGross margin | | 21 | % | | | 14 | % | | | N/A | | | 7 | pp | | | 21 | % | | | N/A | | | 7 | pp \n| | | | | | | | | | | | | \nOperating expenses | | 101,727 | | | | 96,709 | | | | 5,018 | | | 5 | % | | | 102,972 | | | | 6,263 | | | 6 | % \nNet income (loss) from continuing operations | | 40,022 | | | | (70,439 | ) | | | 110,461 | | | N/M | | | | 42,007 | | | | 112,446 | | | N/M | \nAdjusted EBITDA | | (34,942 | ) | | | (61,564 | ) | | | 26,622 | | | 43 | % | | | (35,891 | ) | | | 25,673 | | | 42 | % \n| | | | | | | | | | | | | \n| **As of \nDecember 31, ** | | **As Reported \nChange ** | | **As of December 31,** | | **Constant Currency \nChange ** \n| | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | **$** | | **%** \nCash and cash equivalents | $ | 858,805 | | | $ | 669,291 | | | $ | 189,514 | | | 28 | % | | $ | 869,761 | | | $ | 200,470 | | | 30 | % \nShort-term investments | | \u2014 | | | | 192,237 | | | | (192,237 | ) | | (100 | )% | | | \u2014 | | | | (192,237 | ) | | (100 | )% \nTotal cash and cash equivalents and short-term investments | $ | 858,805 | | | $ | 861,528 | | | $ | (2,723 | ) | | \u2014 | % | | $ | 869,761 | | | $ | 8,233 | | | 1 | % \n \n_ \nNet revenue _\n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 23,398 | | $ | 17,515 | | $ | 5,883 | | | 34 | % | | $ | 23,491 | | $ | 5,976 | | | 34 | % \nCannabis extracts | | 6,588 | | | 6,074 | | | 514 | | | 8 | % | | | 6,729 | | | 655 | | | 11 | % \nOther | | 315 | | | 326 | | | (11 | ) | | (3 | )% | | | 307 | | | (19 | ) | | (6 | )% \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | | 27 | % | | $ | 30,527 | | $ | 6,612 | | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCannabis flower | $ | 87,912 | | $ | 62,070 | | $ | 25,842 | | | 42 | % | | $ | 88,904 | | $ | 26,834 | | | 43 | % \nCannabis extracts | | 29,168 | | | 24,569 | | | 4,599 | | | 19 | % | | | 29,552 | | | 4,983 | | | 20 | % \nOther | | 535 | | | 602 | | | (67 | ) | | (11 | )% | | | 527 | | | (75 | ) | | (12 | )% \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | | 35 | % | | $ | 118,983 | | $ | 31,742 | | | 36 | % \n \n \n\n| **As Reported** | | **As Adjusted for Constant Currency** \n---|---|---|--- \n| **Three months ended \nDecember 31, ** | | **As Reported \nChange ** | | **Three months ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 19,656 | | $ | 17,935 | | $ | 1,721 | | 10 | % | | $ | 20,156 | | $ | 2,221 | | 12 | % \nIsrael | | 7,803 | | | 4,974 | | | 2,829 | | 57 | % | | | 7,546 | | | 2,572 | | 52 | % \nOther countries | | 2,842 | | | 1,006 | | | 1,836 | | 183 | % | | | 2,825 | | | 1,819 | | 181 | % \nNet revenue | $ | 30,301 | | $ | 23,915 | | $ | 6,386 | | 27 | % | | $ | 30,527 | | $ | 6,612 | | 28 | % \n| | | | | | | | | | | | | \n| **As Reported** | | **As Adjusted for Constant Currency** \n| **Year ended \nDecember 31, ** | | **As Reported \nChange ** | | **Year ended \nDecember 31, ** | | **Constant Currency \nChange ** \n| | **2024** | | | **2023** | | **$** | | **%** | | | **2024** | | **$** | | **%** \nCanada | $ | 82,437 | | $ | 64,702 | | $ | 17,735 | | 27 | % | | $ | 83,709 | | $ | 19,007 | | 29 | % \nIsrael | | 28,368 | | | 21,134 | | | 7,234 | | 34 | % | | | 28,454 | | | 7,320 | | 35 | % \nOther countries | | 6,810 | | | 1,405 | | | 5,405 | | 385 | % | | | 6,820 | | | 5,415 | | 385 | % \nNet revenue | $ | 117,615 | | $ | 87,241 | | $ | 30,374 | | 35 | % | | $ | 118,983 | | $ | 31,742 | | 36 | % \n \n \nFor 2024, net revenue on a constant currency basis was $119.0 million,\nrepresenting a 36% increase from 2023. Net revenue increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market and higher cannabis flower sales in Israel and other\ncountries. The Cronos GrowCo Transaction contributed $6.5 million of cannabis\nflower sales in the year ended December 31, 2024 on a constant currency basis.\nNo such sales were recognized for the year ended December 31, 2023.\n\n_Gross profit_\n\nFor 2024, gross profit on a constant currency basis was $25.5 million,\nrepresenting a 114% increase from 2023. Gross profit increased on a constant\ncurrency basis primarily due to higher cannabis flower and extract sales in\nthe Canadian market, higher cannabis flower sales in Israel and other\ncountries, and production cost improvements, partially offset by the impact on\ncost of sales from the inventory step-up from the Cronos GrowCo Transaction.\nFor 2024, gross profit on a constant currency basis was reduced $5.1 million\nas a result of the impact of the inventory step-up from the Cronos GrowCo\nTransaction that was recorded into cost of sales. No such costs were\nrecognized for 2023.\n\n_Operating expenses_\n\nFor 2024, operating expenses on a constant currency basis were $103.0 million,\nrepresenting a 6% increase from 2023. Operating expenses increased on a\nconstant currency basis primarily due to the impairment of the Ginkgo\nExclusive Licenses, partially offset by lower salaries and benefits,\nprofessional fees and restructuring costs.\n\n_Net income (loss) from continuing operations_\n\nFor 2024, net income (loss) from continuing operations on a constant currency\nbasis was $42.0 million, compared to a loss of $70.4 million for 2023.\n\n_Adjusted EBITDA_\n\nFor 2024, Adjusted EBITDA on a constant currency basis was $(35.9) million,\nrepresenting a 42% improvement from 2023. Adjusted EBITDA improved on a\nconstant currency basis primarily due to higher cannabis flower and extract\nsales in the Canadian market, higher cannabis flower sales in Israel and other\ncountries, production cost improvements, and decreases in general and\nadministrative, sales and marketing and research and development expenses.\n\n_Cash and cash equivalents & short-term investments _\n\nCash and cash equivalents and short-term investments on a constant currency\nbasis increased 1% to $869.8 million as of December 31, 2024 from $861.5\nmillion as of December 31, 2023. The increase in cash and cash equivalents and\nshort-term investments is primarily due to cash flows provided by operating\nactivities in 2024.\n\n**Foreign currency exchange rates**\n\nAll currency amounts in this press release are stated in U.S. dollars, which\nis our reporting currency, unless otherwise noted. All references to \u201cdollars\u201d\nor \u201c$\u201d are to U.S. dollars. The assets and liabilities of our foreign\noperations are translated into dollars at the exchange rate in effect as of\nDecember 31, 2024 and December 31, 2023, as reported on Bloomberg.\nTransactions affecting the shareholders\u2019 equity (deficit) are translated at\nhistorical foreign exchange rates. The consolidated statements of net income\n(loss) and comprehensive income (loss) and consolidated statements of cash\nflows of our foreign operations are translated into dollars by applying the\naverage foreign exchange rate in effect for the years ended December 31, 2024,\nDecember 31, 2023, and December 31, 2022, as reported on Bloomberg.\n\nThe exchange rates used to translate from Canadian dollars (\u201cC$\u201d) to dollars\nare shown below:\n\n_(Exchange rates are shown as C$ per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 1.3700 | | 1.3494 | | 1.3017 \nSpot rate | 1.4351 | | 1.3243 | | 1.3554 \n| | | | | \n \nThe exchange rates used to translate from New Israeli Shekels (\u201cILS\u201d) to\ndollars are shown below:\n\n_(Exchange rates are shown as ILS per $)_ | **Year ended December 31,** \n---|--- \n| **2024** | | **2023** | | **2022** \nAverage rate | 3.6997 | | 3.6819 | | 3.3566 \nSpot rate | 3.6526 | | 3.6163 | | 3.5178 \n| | | | | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \ninvestor.relations@thecronosgroup.com\n\n \n\n* * *\n\n## Tags\n\n[ Cannabis ](/en/search/tag/cannabis \"Cannabis\") [ CRON ](/en/search/tag/cron\n\"CRON\") [ Cronos ](/en/search/tag/cronos \"Cronos\") [ Cronos Group\n](/en/search/tag/cronos%2520group \"Cronos Group\")\n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results. It is a reliable source for factual information about the company's performance.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Press release regarding Cronos Group's financial results.",
"url": "https://www.globenewswire.com/news-release/2025/02/27/3033748/0/en/Cronos-Group-Reports-2024-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "573b4d8c-7b48-4122-a2ff-1b8706f0dea7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globaldata.com/company-profile/cronos-group-inc/"
},
"page_content": "__ Back to companies\n\nShare __\n\n * __ Share on Twitter \n * __ Share on LinkedIn \n\nContact the team or request a demo to find out how our data can drive your\nbusiness forward\n\nSelect Item __\n\n * [ Overview ](/company-profile/cronos-group-inc/)\n * [ Financials ](/company-profile/cronos-group-inc/financials/)\n * [ Executives ](/company-profile/cronos-group-inc/executives/)\n * [ Locations ](/company-profile/cronos-group-inc/locations/)\n * [ Competitors ](/company-profile/cronos-group-inc/competitors/)\n * [ Deals ](/company-profile/cronos-group-inc/deals/)\n * [ Filing Analytics ](/company-profile/cronos-group-inc/filing-analytics/)\n * [ Patents ](/company-profile/cronos-group-inc/patents/)\n * [ Theme Exposure ](/company-profile/cronos-group-inc/theme-exposure/)\n * [ Media ](/company-profile/cronos-group-inc/media/)\n * __ Premium Data __\n * [ Lead Sheet ](/company-profile/cronos-group-inc/premium-data/lead-sheet/)\n\nCronos Group Inc (Cronos Group) is an innovative cannabinoid company that\nfocuses on advancing cannabis research, technology, and product development.\nIts activities include building disruptive intellectual property and\ndeveloping a diverse portfolio of cannabis products. The company's product\nportfolio includes dried flowers, cannabis seeds, cannabis plants, cannabis\nextracts, cannabis topicals, and cannabis edibles. Cronos Group's products are\ndesigned for adult consumers and are used across various applications in the\nwellness and recreational sectors. The company's brands include Spinach, PEACE\nNATURALS, and Lord Jones. Cronos Group is headquartered in Toronto, Ontario,\nCanada.\n\n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Gain a 360-degree view of Cronos Group Inc and make more\ninformed decisions for your business Gain a 360-degree view of Cronos Group\nInc and make more informed decisions for your business [ Register your\ninterest ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\nHeadquarters Canada\n\n* * *\n\nAddress 4491 Concession Rd 12, Toronto, Ontario, L0M1S0\n\n* * *\n\nWebsite [ thecronosgroup.com ](http://thecronosgroup.com)\n\n* * *\n\nTelephone 1 416 5040004\n\n* * *\n\nNo of Employees 626\n\n* * *\n\nIndustry Pharmaceuticals and Healthcare\n\n* * *\n\nTicker Symbol & Exchange CRON (TSE)\n\n* * *\n\nRevenue (2023) $117.6M __ 34.8% (2023 vs 2022)\n\n* * *\n\nEPS XYZ\n\n* * *\n\nNet Income (2023) XYZ __ 155.5% (2023 vs 2022)\n\n* * *\n\nMarket Cap* $684.0M\n\n* * *\n\nNet Profit Margin (2023) XYZ __ 141.2% (2023 vs 2022)\n\n* * *\n\n* As of and is in US$ \n\n[ View Cronos Group Inc financials __ ](/company-profile/cronos-group-\ninc/financials/)\n\n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Gain access to our premium signals and make informed\ndecisions for your business Gain access to our premium signals and make\ninformed decisions for your business [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n## 1\n\n#### [ Lead Sheet ](/company-profile/cronos-group-inc/premium-data/lead-\nsheet/)\n\nUnderstand when and why to target accounts of prospective leads, as well as\nwho to reach out to, drawing on intelligence for Cronos Group Inc\u2019s relevant\ndecision makers and contact details.\n\n## Products and Services\n\nProducts | Brands \n---|--- \nCannabis | PEACENATURALS \nDried Cannabis | Spinach \nPre-Rolls | LORD JONES \nXYZ | \nXYZ | \nXYZ | \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Understand Cronos Group Inc portfolio and identify\npotential areas for collaboration Understand Cronos Group Inc portfolio and\nidentify potential areas for collaboration [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n## History\n\nHistory section provides information on new products, mergers, acquisitions,\nexpansions, approvals, and many more key events.\n\nYear | Event | Description \n---|---|--- \n2024 | New Products/Services | In March, the company launched Lord Jones Chocolate Fusions. \n2023 | Corporate Changes/Expansions | In November, the company launched Lord Jones in the Canadian adult-use cannabis market. \n2023 | Others | In September, the company shipped its first order of bulk cannabis which will be sold under the PEACE NATURALS brand in Germany. \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Dive into past operations, including product releases,\ndeals, acquisitions & more Dive into past operations, including product\nreleases, deals, acquisitions & more [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n## Competitor Comparison\n\n**Key Parameters** | Cronos Group Inc | Aurora Cannabis Inc | Delivra Health Brands Inc | CannTrust Holdings Inc \n---|---|---|---|--- \nHeadquarters | Canada | Canada | Canada | Canada \nCity | Toronto | Leduc | Vancouver | Vaughan \nState/Province | Ontario | Alberta | British Columbia | Ontario \nNo. of Employees | 626 | 1,073 | \\- | 576 \nEntity Type | Public | Public | Public | Private \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Benchmark the company against the market with exclusive\ninformation on key competitors Benchmark the company against the market with\nexclusive information on key competitors [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Chart Financial activity with access to more key stats\nChart Financial activity with access to more key stats [ Register your\ninterest ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\n##### Executives\n\nName | Position | Board | Since | Age \n---|---|---|---|--- \nMike Gorenstein | Chairman; Chief Executive Officer; President | Executive Board | \\- | \\- \nJason Adler | Director | Non Executive Board | \\- | \\- \nDominik Meier | Director | Non Executive Board | 2005 | \\- \nElizabeth Seegar | Director | Non Executive Board | 2003 | \\- \nJim Rudyk | Director | Non Executive Board | \\- | \\- \nNon Dignissim Eros | Proin vel | Convallis | 2025 | XY \nNon Dignissim Eros | Proin vel | Convallis | 2025 | XY \nNon Dignissim Eros | Proin vel | Convallis | 2025 | XY \n \n[ ](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907) Gain insight into Cronos Group Inc key executives to\nenhance your sales strategy Gain insight into Cronos Group Inc key executives\nto enhance your sales strategy [ Register your interest\n](https://www.globaldata.com/store/request-sales-intelligence-\ndemo/?report=3254907)\n\nHave you found what you were looking for? From start-ups to market leaders,\nuncover what they do and how they do it.\n\n[ Search companies ](/companies/listing/search/) Continue on page\n\nAccess more premium companies when you subscribe to Explorer\n\n[ Find out more ](/industries-we-cover/globaldata-explorer/) [ Close\n](javascript:void\\(0\\))\n\n* * *\n\n * [ Hot Topics ](https://hot-topics.globaldata.com/)\n * [ Terms & Conditions ](https://www.globaldata.com/terms-conditions/)\n * [ Privacy Policy ](https://www.globaldata.com/privacy-policy/)\n * [ Contact Us ](https://www.globaldata.com/contact-us/)\n * [ Sitemap ](https://www.globaldata.com/sitemap/)\n * [ Modern Slavery Statement ](https://www.globaldata.com/wp-content/uploads/2021/03/FY2122-Modern-Slavery-FINAL.pdf)\n\n* * *\n\n__ Top of page\n\n\u00a9 GlobalData Plc 2025 | Registered Office: John Carpenter House, John Carpenter Street, London, EC4Y 0AN, UK | Registered in England No. 03925319 \n\n * * * * \n\nSubmit\n\n \n\n[ Abbott Laboratories ](/company-profile/abbott-laboratories/) ; [ Pfizer Inc\n](/company-profile/pfizer-inc/) ; [ Medtronic Plc ](/company-\nprofile/medtronic-plc/) ; [ Shell plc ](/company-profile/royal-dutch-shell-\nplc/) ; [ BP Plc ](/company-profile/bp-plc/)\n\n",
"url": "https://www.globaldata.com/company-profile/cronos-group-inc/"
},
"reason": "This is a company profile on GlobalData, a reputable business information provider. The profile provides an overview of Cronos Group, including its operations, key employees, and financial performance. The information is likely to be accurate and well-researched.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Company profile of Cronos Group on GlobalData.",
"url": "https://www.globaldata.com/company-profile/cronos-group-inc/"
},
{
"content": {
"metadata": {
"ext_id": "5d0058ce-3775-46cc-afe6-2bba57e28626",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://cronos-groep.be/en/"
},
"page_content": "# Your technology and innovation partner\n\n#### The Cronos Group is an outstanding example of innovative\nentrepreneurship.\n\n[ ](https://cronos-groep.be/wp-content/uploads/2020/10/rhinox_001_int_wz.gif)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/cronosadleie_001_int_bw-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2020/11/leuv_take001_ext_bl-1024x576.jpg)\n\nFounded in 1991, The Cronos Group has evolved from a one-man business to a\nlarge group of companies with >9000 employees. The group was originally\nfounded by and for technology people for the express purpose of helping those\npeople grow as far as their ambitions reached, even if that meant starting for\nthemselves.\n\nSince then, this mission statement has been expanded and the group enriched\nwith people from the creative sector who are able to communicate well with the\n\u2018business people\u2019 yet are able to speak with the Cronos IT staff at their own\nlevel, resulting in the most creative and technologically optimal solution for\ncustomers.\n\nThe group is also continuously looking for creative, driven people and is\nalways willing to listen to innovative ideas from potential entrepreneurs.\n\n[ More about The Cronos Group ](https://cronos-groep.be/en/over-ons/ \"Over\nons\")\n\n## Who are we\n\n__\n\n##### Innovative entrepreneurship\n\nThe Cronos Group is a diverse group, active in a number of innovative sectors.\nThe company seeks to serve as a catalyst for the development of scientific\nresearch on new technologies into business solutions.\n\n__\n\n##### Strong group\n\nThe Cronos Group is also an early stage investor, incubator, integrator and\nventure capital firm. The Cronos Group has holdings in more than 570 companies\nin various sectors and is actively involved in the start-up of some 20\ncompanies per year.\n\n__\n\n##### New technologies\n\nThe companies under The Cronos Group are pioneers in the introduction and use\nof new and innovative technologies, serving companies in various sectors that\nare often impacted by major changes, such as the media sector and publishers,\nbanking and insurance, utilities, etc.\n\n__\n\n##### Support\n\nThe Cronos Group searches the world for the best technology, actively forms\nknowledge cells and encourages potential entrepreneurs within the knowledge\ncells to pursue the technology in question.\n\n[ Contact us ](https://cronos-groep.be/en/contact/ \"Contact\")\n\n## Our succes story\n\n> 1\n\n##### Employees\n\n1\n\n##### Billion euro consolidated turnover\n\n1\n\n##### Customers in the Benelux\n\n## Cronos Classic Cycling\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.217-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.160-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.007-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.100-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.027-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.za_.079-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.220-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.228-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.237-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.244-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.255-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.276-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.278-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.297-1024x683.jpg)\n\n[ ](https://cronos-groep.be/wp-\ncontent/uploads/2021/10/CC.zo_.307-1024x683.jpg)\n\n[ Request all photos here ](/cdn-cgi/l/email-\nprotection#e0838f8d8d958e898381948985a083928f8e8f93ce8285df9395828a858394dda3928f8e8f93c0a38c8193938983c0a399838c898e87)\n\n## Initiatives\n\n### Do you want to start a new initiative? Are you looking for a nice\nworkplace or an internship? Would you like to learn more about the different\nareas of expertise?\n\n[ Contact us ](https://cronos-groep.be/en/contact/ \"Contact\")\n\n##### The Cronos Group hq\n\nBusiness Park Kings Square \nVeldkant 33A \u2013 2550 Kontich \nBelgium\n\nPhone: 03 450 80 30\n\n##### Instagram feed\n\n##### Contact us directly\n\n###### Jef de wit\n\n[ __ ](/cdn-cgi/l/email-protection#036966652d6766746a774360716c6d6c702d6166)\n\n###### Dirk Deroost\n\n[ __ ](/cdn-cgi/l/email-\nprotection#d0b4b9a2bbfeb4b5a2bfbfa3a490b3a2bfbebfa3feb2b5)\n\nOr fill in our [ contact form ](/?page_id=213) .\n\n\u00a9 The Cronos Group \u2013 [ Sustainability ](https://cronos-groep.be/wp-\ncontent/uploads/2024/05/Cronos-ESG.pdf) \u2013 [ Confide\n](https://cronos.app/confide) \u2013 [ Privacy Policy ](/?page_id=233) \u2013 [ Cookie\nPolicy ](/?page_id=217) \u2013 [ Press kit ](https://de-cronos-groep.prezly.com/)\n\nFOLLOW US\n\n[ __ ](https://www.facebook.com/DeCronosGroep \"Facebook\")\n\nFacebook\n\n[ __ ](https://www.instagram.com/decronosgroep/ \"Instagram\")\n\nInstagram\n\n[ __ ](https://www.linkedin.com/company/cronos \"LinkedIn\")\n\nLinkedIn\n\n[ __ ](https://twitter.com/CronosGroep \"Twitter\")\n\nTwitter\n\n[ __ ](https://www.youtube.com/channel/UCsDzxe6vT5vXGT_95SOjuaA \"YouTube\")\n\nYouTube\n\nManage Cookie Consent\n\nThis website uses cookies to improve your user experience. We process cookies\nfor (1) electronic communication and display of the website, (2) further\ndesign, (3) measurement and analysis of your usage , (4) displaying tailored\ncontent and advertisements and (5) third-party purposes (if applicable). You\ncan choose to accept or refuse the use of cookies (with the exception of\nessential cookies) for each category. Refusing certain categories of cookies\n(e.g. functional cookies or marketing cookies) may impact your user experience\nor prevent us from further improving that user experience. The 'Preferences'\nbutton allows you to set or change your preferences now or later. More\ninformation on cookie processing can be found in our [ cookie statement\n](https://cronos-groep.be/cookie-policy/) .\n\nFunctional Always active\n\nThe technical storage or access is strictly necessary for the legitimate\npurpose of enabling the use of a specific service explicitly requested by the\nsubscriber or user, or for the sole purpose of carrying out the transmission\nof a communication over an electronic communications network.\n\nVoorkeuren\n\nDe technische opslag of toegang is noodzakelijk voor het legitieme doel\nvoorkeuren op te slaan die niet door de abonnee of gebruiker zijn aangevraagd.\n\nStatistics\n\nThe technical storage or access that is used exclusively for anonymous\nstatistical purposes. Without a subpoena, voluntary compliance on the part of\nyour Internet Service Provider, or additional records from a third party,\ninformation stored or retrieved for this purpose alone cannot usually be used\nto identify you. De technische opslag of toegang die uitsluitend wordt\ngebruikt voor anonieme statistische doeleinden. Zonder dagvaarding,\nvrijwillige naleving door je Internet Service Provider, of aanvullende\ngegevens van een derde partij, kan informatie die alleen voor dit doel wordt\nopgeslagen of opgehaald gewoonlijk niet worden gebruikt om je te\nidentificeren.\n\nMarketing\n\nThe technical storage or access is required to create user profiles to send\nadvertising, or to track the user on a website or across several websites for\nsimilar marketing purposes.\n\nManage options Manage services Manage {vendor_count} vendors [ Read more\nabout these purposes ](https://cookiedatabase.org/tcf/purposes/)\n\nView preferences\n\n{title} {title} {title}\n\n",
"url": "https://cronos-groep.be/en/"
},
"reason": "This is the official website of Cronos Groep, providing direct information about the company, its services, and its mission. It is a highly reliable source for information about the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Official website of Cronos Groep.",
"url": "https://cronos-groep.be/en/"
},
{
"content": {
"metadata": {
"ext_id": "346a0796-c02e-4c6e-a39d-23d21fdf1ccc",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501353.d64c255\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by Cronos Group. SEC filings are considered highly reliable sources of information about publicly traded companies.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "SEC filing by Cronos Group.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
{
"content": {
"metadata": {
"ext_id": "c3d8cc6c-af60-456e-8817-5fed3ec22798",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://ca.indeed.com/cmp/Cronos-Group/reviews?fcountry=CA&floc=Stayner%2C+ON"
},
"page_content": "# Additional Verification Required\n\nEnable JavaScript and cookies to continue\n\nYour Ray ID for this request is 9355f2c3f8583ef4\n\n[ Troubleshooting Cloudflare Errors ](https://support.indeed.com/hc/en-\nus/articles/33465379855501-Troubleshooting-Cloudflare-Errors)\n\nNeed more help? [ Contact us ](https://www.indeed.com/support/contact)\n\n",
"url": "https://ca.indeed.com/cmp/Cronos-Group/reviews?fcountry=CA&floc=Stayner%2C+ON"
},
"reason": "This page contains employee reviews of Cronos Group on Indeed. While individual reviews may be biased or subjective, the aggregate of reviews can provide insights into the company's work environment and employee well-being. However, it should be interpreted with caution.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Employee reviews of Cronos Group on Indeed.",
"url": "https://ca.indeed.com/cmp/Cronos-Group/reviews?fcountry=CA&floc=Stayner%2C+ON"
},
{
"content": {
"metadata": {
"ext_id": "746cebfa-8e99-4f23-9e01-fe5fcba34ee9",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.glassdoor.com/Reviews/Cronos-B%C3%A9lgica-Reviews-EI_IE871033.0,6_IL.7,14_IN25.htm"
},
"page_content": "# Help Us Protect Glassdoor\n\nPlease help us protect Glassdoor by verifying that you're a real person. We\nare sorry for the inconvenience. If you continue to see this message, please\nemail to let us know you're having trouble.\n\n# Aidez-nous \u00e0 prot\u00e9ger Glassdoor\n\nAidez-nous \u00e0 prot\u00e9ger Glassdoor en confirmant que vous \u00eates une personne\nr\u00e9elle. Nous sommes d\u00e9sol\u00e9s pour la g\u00eane occasionn\u00e9e. Si vous continuez \u00e0 voir\nce message, contactez-nous \u00e0 l'adresse pour nous faire part du probl\u00e8me.\n\n# Helfen Sie mit, Glassdoor zu sch\u00fctzen\n\nBitte helfen Sie uns, Glassdoor zu sch\u00fctzen, indem Sie best\u00e4tigen, dass Sie\nein Mensch und keine Maschine sind. Wir entschuldigen uns f\u00fcr die Umst\u00e4nde.\nWenn Sie weiterhin diese Meldung erhalten, informieren Sie uns dar\u00fcber bitte\nper E-Mail an\n\n# Help ons Glassdoor te beschermen\n\nHelp ons Glassdoor te beschermen door te verifi\u00ebren of u een persoon bent.\nOnze excuses voor het ongemak. Als u dit bericht blijft zien, stuur dan een\ne-mail naar om ons te informeren over dit probleem.\n\n# Ay\u00fadanos a proteger Glassdoor\n\nAy\u00fadanos a proteger Glassdoor y demu\u00e9stranos que eres una persona real.\nDisculpa las molestias. Si contin\u00faas recibiendo este mensaje, inf\u00f3rmanos del\nproblema enviando un correo electr\u00f3nico a .\n\n# Ay\u00fadanos a proteger Glassdoor\n\nAy\u00fadanos a proteger Glassdoor verificando que eres una persona real.\nLamentamos los inconvenientes que esto te pueda causar. Si contin\u00faas viendo\neste mensaje, env\u00eda un correo electr\u00f3nico a para informarnos de que tienes\nproblemas.\n\n# Ajude-nos a proteger o Glassdoor\n\nAjude-nos a manter o Glassdoor seguro confirmando que voc\u00ea \u00e9 uma pessoa de\nverdade. Lamentamos pelo inconveniente. Caso continue recebendo esta mensagem,\nenvie um e-mail para para nos informar sobre o problema.\n\n# Aiutaci a proteggere Glassdoor\n\nAiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Ci\nscusiamo se questo pu\u00f2 causarti degli inconvenienti. Se continui a\nvisualizzare questo messaggio, invia un'email all'indirizzo per informarci del\nproblema.\n\nCF-103 / 9355f2c44fa10220\n\nEnable JavaScript and cookies to continue\n\n",
"url": "https://www.glassdoor.com/Reviews/Cronos-B%C3%A9lgica-Reviews-EI_IE871033.0,6_IL.7,14_IN25.htm"
},
"reason": "This page contains employee reviews of Cronos Group on Glassdoor. While individual reviews may be biased or subjective, the aggregate of reviews can provide insights into the company's work environment and employee well-being. However, it should be interpreted with caution.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Employee reviews of Cronos Group on Glassdoor.",
"url": "https://www.glassdoor.com/Reviews/Cronos-B%C3%A9lgica-Reviews-EI_IE871033.0,6_IL.7,14_IN25.htm"
},
{
"content": {
"metadata": {
"ext_id": "b7e6a03c-7309-4b58-b379-fc6409c34be5",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
"page_content": "| Company Name, Ticker, Competitors, else.. | | \n---|---|---|--- \n \n * [ HOME ](https://csimarket.com/index.php)\n * [ INDUSTRIES ](https://csimarket.com/Industry/Industry_Data.php)\n * [ NEWS ](https://csimarket.com/news/index.php)\n * [ MARKETS ](https://csimarket.com/markets/markets_glance.php)\n * [ ECONOMY ](https://csimarket.com/economy/At_glance.php)\n * [ SCREENING ](https://csimarket.com/screening/index.php)\n * [ GLOSSARY ](https://csimarket.com/glossary/term_Amortization.html)\n * [ HELP ](https://csimarket.com/help/About_us.php)\n\n * [ Company Profile ](https://csimarket.com/stocks/at_glance.php?code=CRON)\n * [ Cronos Group Inc News ](https://csimarket.com/stocks/news.php?code=CRON)\n * [ Cronos Group Inc's Free Cash Flow Margin ](https://csimarket.com/stocks/singleProfitabilityRatios.php?code=CRON&cfw)\n * [ Cronos Group Inc's Operating Margin ](https://csimarket.com/stocks/singleProfitabilityRatios.php?code=CRON&oper)\n * [ Cronos Group Inc Business Description ](https://csimarket.com/stocks/CRON-Business-Description.html)\n * [ Cronos Group Inc Executive Officers ](https://csimarket.com/stocks/CRON-Officers-Directors.html)\n * [ Economic Indicators ](https://csimarket.com/stocks/eco.php?code=CRON)\n * [ Fundamentals ](https://csimarket.com/stocks/fundamentals_glance.php?code=CRON)\n * [ Cronos Group Inc Growth Rates ](https://csimarket.com/stocks/growthrates.php?code=CRON)\n * [ Cronos Group Inc Profitability ](https://csimarket.com/stocks/Profitability.php?code=CRON)\n * [ Cronos Group Inc Valuation ](https://csimarket.com/stocks/CRON-Valuation-Comparisons.html)\n * [ Cronos Group Inc Management Effectiveness ](https://csimarket.com/stocks/CRON-Management-Effectiveness-Comparisons.html)\n * [ Cronos Group Inc Financial Strength ](https://csimarket.com/stocks/CRON-Financial-Strength-Comparisons.html)\n * [ Cronos Group Inc Efficiency ](https://csimarket.com/stocks/CRON-Efficiency-Comparisons.html)\n * [ Cronos Group Inc Dividend ](https://csimarket.com/stocks/CRON-Dividend-Comparisons.html)\n * [ Financials ](https://csimarket.com/stocks/financials_glance.php?code=CRON)\n * [ Cronos Group Inc Business Segments ](https://csimarket.com/stocks/segments.php?code=CRON)\n * [ Cronos Group Inc Income Statement ](https://csimarket.com/stocks/CRON-Income-Statement)\n * [ Cronos Group Inc Balance Sheets ](https://csimarket.com/stocks/CRON-Balance-Sheets)\n * [ Cronos Group Inc Cash Flow Statement ](https://csimarket.com/stocks/CRON-Cash-Flow-Statements)\n * [ Competition ](https://csimarket.com/stocks/compet_glance.php?code=CRON)\n * [ Cronos Group Inc Market Share ](https://csimarket.com/stocks/competitionSEG2.php?code=CRON)\n * [ Cronos Group Inc Competition Performance ](https://csimarket.com/stocks/competitionNO9.php?code=CRON)\n * [ Cronos Group Inc Competitors Results ](https://csimarket.com/stocks/competition2.php?code=CRON)\n * [ CRON Competitors Stock Performance ](https://csimarket.com/stocks/competitionNO2.php?code=CRON)\n * [ CRON Competitors Growth Rates ](https://csimarket.com/stocks/competitionNO3.php?code=CRON)\n * [ CRON Workforce Efficiency at the Competitors ](https://csimarket.com/stocks/competitionNO4.php?code=CRON)\n * [ CRON Competitors Efficiency ](https://csimarket.com/stocks/competitionNO5.php?code=CRON)\n * [ CRON Competitors Management Effectiveness ](https://csimarket.com/stocks/competitionNO6.php?code=CRON)\n * [ CRON Competitors Valuation ](https://csimarket.com/stocks/competitionNO8.php?code=CRON)\n * [ Charts & Quotes ](https://csimarket.com/stocks/charts.php?code=CRON)\n * [ CRON's Technical Analysis ](https://csimarket.com/stocks/CRON-technical-analysis)\n * [ Cronos Group Inc Comparison Charts ](https://csimarket.com/stocks/technicals_compare.php?code=CRON)\n * [ CRON OHLC Charts ](https://csimarket.com/stocks/technicals_ohlc.php?code=CRON)\n * [ CRON Line Charts ](https://csimarket.com/stocks/technicals_line.php?code=CRON)\n * [ CRON's Weekly Charts ](https://csimarket.com/stocks/technicals_ohlc_week.php?code=CRON)\n * [ CRON's Monthly Charts ](https://csimarket.com/stocks/technicals_ohlc_month.php?code=CRON)\n\n * * [ Home ](https://csimarket.com/index.php)\n * [ Cronos Group Inc's Profile ](https://csimarket.com/stocks/at_glance.php?code=CRON)\n * [ Company Charts and Quotes ](https://csimarket.com/stocks/charts.php?code=CRON)\n * [ CRON's OHLC Chart ](https://csimarket.com/stocks/technicals_ohlc.php?code=CRON)\n * [ Cronos Group Inc News ](https://csimarket.com/stocks/news.php?code=CRON)\n * [ Cronos Group Inc latest News ](https://csimarket.com/news/spinach-flourishes-as-leading-cannabis-brand-in-canada-cronos-group-s-innovative-strategy-and-summer-expansion2024-10-10131846)\n * [ Cronos Group Inc's Business Description ](https://csimarket.com/stocks/CRON-Business-Description.html)\n * [ Cronos Group Inc's Income Statement ](https://csimarket.com/stocks/CRON-Income-Statement)\n * [ Cronos Group Inc's Balance Sheets ](https://csimarket.com/stocks/CRON-Balance-Sheets)\n * [ Cronos Group Inc's Cash Flow Statement ](https://csimarket.com/stocks/CRON-Cash-Flow-Statements)\n * [ Cronos Group Inc's Profitability ](https://csimarket.com/stocks/Profitability.php?code=CRON)\n * [ Cronos Group Inc's Financials ](https://csimarket.com/stocks/financials_glance.php?code=CRON)\n * [ Cronos Group Inc's Valuation ](https://csimarket.com/stocks/CRON-Valuation-Comparisons.html)\n * [ Cronos Group Inc's Suppliers ](https://csimarket.com/stocks/suppliers_glance.php?code=CRON)\n * [ Cronos Group Inc's Competitors ](https://csimarket.com/stocks/compet_glance.php?code=CRON)\n * [ Cronos Group Inc's Markets & Customers ](https://csimarket.com/stocks/markets_glance.php?code=CRON)\n * [ Cronos Group Inc's Market Share ](https://csimarket.com/stocks/competitionSEG2.php?code=CRON)\n * [ CRON's Suppliers Valuation ](https://csimarket.com/stocks/competitionNO8.php?supply&code=CRON)\n * [ CRON's Employee Efficiency at the Competitors ](https://csimarket.com/stocks/competitionNO4.php?code=CRON)\n * [ CRON's Charts Line ](https://csimarket.com/stocks/technicals_line.php?code=CRON)\n * [ Cronos Group Inc's Customers Workforce Efficiency ](https://csimarket.com/stocks/competitionNO4.php?markets&code=CRON)\n * [ Economic Indicators ](https://csimarket.com/stocks/eco.php?code=CRON)\n * [ Revenue per Employee by Industry ](https://csimarket.com/Industry/industry_Efficiency.php)\n * [ News ](https://csimarket.com/news/index.php)\n * [ Economy News ](https://csimarket.com/news/economy.php)\n * [ Stocks on the Move ](https://csimarket.com/news/stocks_on_move.php)\n * [ News on Clinical Trials ](https://csimarket.com/news/clinical_trails.php)\n * [ Previous News ](https://csimarket.com/news/index.php?hist=166)\n * [ Most Profitable Companies ](https://csimarket.com/screening/most_valuable.php?s=rgt)\n * [ Year to date best performing stocks in the Consumer Non Cyclical ](https://csimarket.com/markets/Best_in_Industry.php?s=500&days=ytd)\n * [ Markets at a Glance ](https://csimarket.com/markets/markets_glance.php)\n * [ Stocks ](https://csimarket.com/markets/Stocks.php)\n * [ Cryptocurrencies ](https://csimarket.com/markets/Cryptocurrencies.php)\n * [ Sectors & Industries ](https://csimarket.com/markets/Sectors1.php)\n * [ Over the past 12 months worst performing stocks in the Legal Cannabis industry ](https://csimarket.com/markets/Worst_in_Industry.php?ind=509&days=yy)\n * [ Commodities ](https://csimarket.com/markets/Commodities.php)\n * [ Foreign Exchange ](https://csimarket.com/markets/Currencies.php)\n * [ Stocks in 2024 ](https://csimarket.com/markets/year.php?year=2024#tablecomp)\n * [ Construction Spending ](https://csimarket.com/economy/ConstructionSpending_glance.php)\n * [ News ](https://csimarket.com/news/index.php)\n * [ Economy News ](https://csimarket.com/news/economy.php)\n * [ Business News ](https://csimarket.com/news/stocks.php)\n * [ Cronos Group Inc latest News ](https://csimarket.com/news/spinach-flourishes-as-leading-cannabis-brand-in-canada-cronos-group-s-innovative-strategy-and-summer-expansion2024-10-10131846)\n * [ Hotel & Leisure Terms ](https://csimarket.com/glossary/category_ho.html)\n\n| [ ](https://csimarket.com/stocks/search.php) \n---|--- \n \n--- \n| | Cronos Group Inc (NASDAQ: CRON ) | | Other Ticker: | \n---|--- \n| | Sector [ \u2022 Consumer Non Cyclical ](https://csimarket.com/Industry/industry_Profitability_Ratiosc.php?s=500) Industry [ \u2022 Legal Cannabis ](https://csimarket.com/Industry/Industry_Valuation.php?ind=509) | \n---|---|--- \n \nIndustry [ \u2022 Legal Cannabis\n](https://csimarket.com/Industry/Industry_Valuation.php?ind=509) \n--- \nSector [ \u2022 Consumer Non Cyclical\n](https://csimarket.com/Industry/industry_Profitability_Ratiosc.php?s=500) \n \n \n\n# Cronos Group Inc\n\n## Business Description\n\n \nCronos Group Inc is a Canadian cannabis company that operates globally. It was\nfounded in 2013 by two entrepreneurs, and it was one of the first companies to\nreceive a cultivation license from Health Canada. The company is publicly\ntraded on the Toronto Stock Exchange and the NASDAQ. \n \nCronos Group has established itself as a leading player in the cannabis\nindustry. It operates through its three wholly-owned subsidiaries: Cronos\nGrowing Company Inc, Cronos Israel, and Cronos Australia. These subsidiaries\nfocus on the cultivation, production, and distribution of cannabis products. \n \nOne of the key strengths of Cronos Group is its diverse portfolio of brands\nand products. The company*s offerings include dried flower, oils, pre-rolls,\nvapes, and cannabis-infused beverages. It has also gained a reputation for\ndeveloping innovative and high-quality products by leveraging advanced\nresearch and development capabilities. \n \nCronos Group has a strong international presence. It has strategically entered\ninto partnerships and agreements with companies in various countries to expand\nits global footprint. For example, it has an exclusive distribution agreement\nwith Delfarma, a leading pharmaceutical distributor in Poland. Additionally,\nCronos Group has partnered with Kibbutz Gan Shmuel, an agricultural community\nin Israel, to establish a state-of-the-art cultivation facility. \n \nThe company*s commitment to research and development sets it apart in the\nindustry. Cronos Group invests significantly in scientific research to develop\nnew cannabis products and to improve the efficiency of cultivation and\nextraction processes. It has established a cutting-edge research and\ndevelopment facility to drive innovation and create a competitive advantage. \n \nCronos Group prioritizes sustainable and responsible operations. It is focused\non minimizing its environmental impact and ensuring the health and safety of\nits employees. The company has implemented various initiatives to promote\nsustainability, such as adopting energy-efficient technologies and reducing\nwater consumption in its cultivation facilities. \n \nIn addition to its core cannabis business, Cronos Group is actively exploring\nopportunities in the hemp-derived CBD market. It has launched various CBD\nproducts, including topicals and tinctures, to capitalize on the growing\ndemand for CBD-infused products. \n \nDespite its strong position in the industry, Cronos Group faces challenges and\nrisks. The cannabis market is highly regulated, and changes in regulations\ncould impact the company*s operations. Additionally, increased competition,\nboth domestically and internationally, poses a threat to its market share and\nprofitability. \n \nIn conclusion, Cronos Group Inc is a leading Canadian cannabis company with a global presence. It has established itself as an innovative and sustainable player in the industry, with a diverse portfolio of cannabis products. The company*s ongoing investments in research and development, along with strategic partnerships, position it for growth in the evolving cannabis market. | \n \n[ Business Description ](CRON-Business-Description.html) [ Officers &\nDirectors ](CRON-Officers-Directors.html) \n---|--- \n \n[ View Company Supplier ](suppliers_glance.php?code=CRON) | [ View Company Competition ](competition.php?code=CRON) | [ View Company Customers ](markets_glance.php?code=CRON) \n---|---|--- \n \n \n \n[ Help ](https://csimarket.com/help/index.php) \n \n[ About us ](https://csimarket.com/help/About_us.php) \n \n[ Advertise ](https://csimarket.com/help/Advertise.php) \n \n \n--- \n \nCSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings,\nEconomy, News and Research. \nCopyright \ufffd 2025 CSIMarket, Inc. All rights reserved. \n \nIntraday data delayed per exchange requirements. All quotes are in local\nexchange time. Intraday data delayed 15 minutes for Nasdaq, and other\nexchanges. Fundamental and financial data for Stocks, Sector, Industry, and\nEconomic Indicators provided by CSIMarket.com\n\n",
"url": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
"reason": "This page provides a business description of Cronos Group from CSIMarket, a financial analysis website. While the site may have some inherent bias towards investment analysis, the business description itself is likely to be factual and based on publicly available information.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Business description of Cronos Group from CSIMarket.",
"url": "https://csimarket.com/stocks/CRON-Business-Description.html"
},
{
"content": {
"metadata": {
"ext_id": "c6dc1201-7f27-4e8a-ad8d-151f3f060f95",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.glassdoor.ca/Reviews/Cronos-Group-Canada-Reviews-E2602973.htm"
},
"page_content": "# Help Us Protect Glassdoor\n\nPlease help us protect Glassdoor by verifying that you're a real person. We\nare sorry for the inconvenience. If you continue to see this message, please\nemail to let us know you're having trouble.\n\n# Aidez-nous \u00e0 prot\u00e9ger Glassdoor\n\nAidez-nous \u00e0 prot\u00e9ger Glassdoor en confirmant que vous \u00eates une personne\nr\u00e9elle. Nous sommes d\u00e9sol\u00e9s pour la g\u00eane occasionn\u00e9e. Si vous continuez \u00e0 voir\nce message, contactez-nous \u00e0 l'adresse pour nous faire part du probl\u00e8me.\n\n# Helfen Sie mit, Glassdoor zu sch\u00fctzen\n\nBitte helfen Sie uns, Glassdoor zu sch\u00fctzen, indem Sie best\u00e4tigen, dass Sie\nein Mensch und keine Maschine sind. Wir entschuldigen uns f\u00fcr die Umst\u00e4nde.\nWenn Sie weiterhin diese Meldung erhalten, informieren Sie uns dar\u00fcber bitte\nper E-Mail an\n\n# Help ons Glassdoor te beschermen\n\nHelp ons Glassdoor te beschermen door te verifi\u00ebren of u een persoon bent.\nOnze excuses voor het ongemak. Als u dit bericht blijft zien, stuur dan een\ne-mail naar om ons te informeren over dit probleem.\n\n# Ay\u00fadanos a proteger Glassdoor\n\nAy\u00fadanos a proteger Glassdoor y demu\u00e9stranos que eres una persona real.\nDisculpa las molestias. Si contin\u00faas recibiendo este mensaje, inf\u00f3rmanos del\nproblema enviando un correo electr\u00f3nico a .\n\n# Ay\u00fadanos a proteger Glassdoor\n\nAy\u00fadanos a proteger Glassdoor verificando que eres una persona real.\nLamentamos los inconvenientes que esto te pueda causar. Si contin\u00faas viendo\neste mensaje, env\u00eda un correo electr\u00f3nico a para informarnos de que tienes\nproblemas.\n\n# Ajude-nos a proteger o Glassdoor\n\nAjude-nos a manter o Glassdoor seguro confirmando que voc\u00ea \u00e9 uma pessoa de\nverdade. Lamentamos pelo inconveniente. Caso continue recebendo esta mensagem,\nenvie um e-mail para para nos informar sobre o problema.\n\n# Aiutaci a proteggere Glassdoor\n\nAiutaci a proteggere Glassdoor dimostrando che sei una persona reale. Ci\nscusiamo se questo pu\u00f2 causarti degli inconvenienti. Se continui a\nvisualizzare questo messaggio, invia un'email all'indirizzo per informarci del\nproblema.\n\nCF-103 / 9355f2c56aa6017f\n\nEnable JavaScript and cookies to continue\n\n",
"url": "https://www.glassdoor.ca/Reviews/Cronos-Group-Canada-Reviews-E2602973.htm"
},
"reason": "This page contains employee reviews of Cronos Group on Glassdoor. While individual reviews may be biased or subjective, the aggregate of reviews can provide insights into the company's work environment and employee well-being. However, it should be interpreted with caution.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Employee reviews of Cronos Group on Glassdoor.",
"url": "https://www.glassdoor.ca/Reviews/Cronos-Group-Canada-Reviews-E2602973.htm"
},
{
"content": {
"metadata": {
"ext_id": "44390704-4fa9-438a-903f-1a18a5769632",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
"page_content": "Accessibility: Skip TopNav\n\n# Cronos Group Reports 2019 Fourth Quarter and Full-Year Results\n\nMarch 30, 2020 16:02 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7) Cronos Group Inc. \n\n* * *\n\n_Completed Audit Committee Review and Restated Certain 2019 Unaudited Interim\nFinancial Statements_ \n\n_Expanded Canadian distribution to new provinces and product categories across\nthe adult-use market_\n\n_Established Cronos Fermentation, a critical step in advancing the production\nof cultured cannabinoids in partnership with Ginkgo Bioworks_\n\n_Enhanced research and development capabilities at the Peace Naturals Campus_\n\n_Advanced operational readiness of Cronos Israel with GAP and GMP\ncertifications_\n\nTORONTO, March 30, 2020 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos Group\u201d or the \u201cCompany\u201d), today announces its 2019 fourth\nquarter and full-year business results.\n\nThe Audit Committee of the Cronos Group Board of Directors has completed its\nreview of certain bulk resin purchases and sales of products through the\nwholesale channel. Following completion of the review, and on the\nrecommendation of the Audit Committee and advice from the Company\u2019s\nindependent auditor, KPMG LLP, the Board determined that Cronos Group will\nrestate its unaudited interim financial statements for the first, second and\nthird quarters of 2019. Accordingly, the Company reduced revenue for the three\nmonths ended March 31, 2019 by C$2.5 million and the three months ended\nSeptember 30, 2019 by C$5.1 million.\n\n\u201cWe are pleased that the Audit Committee has completed its review, and that\nCronos Group is now current with the filing of our financial reports. As we\nmove forward, we are committed to improving our internal controls and\nfinancial reporting practices, maintaining the highest standards of\ntransparency and accountability, and enhancing our capabilities and resources\nacross functions to support our strategy,\u201d said Mike Gorenstein, CEO of Cronos\nGroup.\n\n\u201cCronos Group ended 2019 with a strong foundation and balance sheet, and a\nclear focus on achieving our core strategic initiatives to drive long-term,\nsustainable growth. Importantly, we expanded our Canadian distribution\nfootprint, broadened our brand portfolio, enhanced our global supply chain\ncapabilities and advanced our breakthrough intellectual property and research\nand development initiatives. While the world currently faces an unprecedented\ntime of uncertainty related to COVID-19, we believe we are well-positioned to\nbuild on these accomplishments as we maintain our investments in brands and\nproducts that will resonate with adult consumers and generate sustainable,\nlong-term value for shareholders.\u201d\n\n**_Financial Results_ **\n\n_(in thousands of USD)_ | | **Three months December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \n**Net revenue** | | | | | | | | | | | | | | | | \nUnited States | | $ | 2,693 | | | $ | \u2014 | | | $ | 2,693 | | | N/A | | $ | 3,364 | | | $ | \u2014 | | | $ | 3,364 | | | N/A \nRest of World | | 4,615 | | | 4,285 | | | 330 | | | 8 | % | | 20,386 | | | 12,121 | | | 8,265 | | | 68 | % \nConsolidated net revenue | | 7,308 | | | 4,285 | | | 3,023 | | | 71 | % | | 23,750 | | | 12,121 | | | 11,629 | | | 96 | % \n| | | | | | | | | | | | | | | | \nGross profit (loss) | | (20,375 | ) | | 1,880 | | | (22,255 | ) | | (1184 | )% | | (17,864 | ) | | 6,213 | | | (24,077 | ) | | (388 | )% \nGross margin | | (279 | )% | | 44 | % | | \u2014 | | | (323)pp | | (75 | )% | | 51 | % | | \u2014 | | | (126)pp \n| | | | | | | | | | | | | | | | \nReported operating loss | | $ | (63,869 | ) | | $ | (8,871 | ) | | $ | (54,998 | ) | | 620 | % | | $ | (121,484 | ) | | $ | (21,341 | ) | | $ | (100,143 | ) | | 469 | % \nAdjusted operating loss (i) | | (56,601 | ) | | (8,871 | ) | | (47,730 | ) | | 538 | % | | (114,216 | ) | | (21,341 | ) | | (92,875 | ) | | 435 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents | | | | | | | | | | 1,199,693 | | | 23,927 | | | 1,175,766 | | | 4914 | % \nShort-term investments | | | | | | | | | | 306,347 | | | \u2014 | | | 306,347 | | | N/A \nCapital expenditures | | 757 | | | 32,676 | | | (31,919 | ) | | (98 | )% | | 38,953 | | | 88,586 | | | (49,633 | ) | | (56 | )% \n \n_ (i) See \u201cNon-GAAP Measures\u201d for more information, including a reconciliation\nof adjusted operating loss \n_ _ (ii) Dollar amounts are as of the last day of the period indicated _\n\n**Fourth Quarter 2019**\n\n * Net revenue of $7.3 million in Q4 2019 increased by $3.0 million from Q4 2018, primarily driven by an increase in the volume of products sold in the Rest of World segment and the Redwood acquisition, partially offset by a decrease in the price of products sold in the Rest of World segment. \n * Gross profit (loss) of ($20.4) million in Q4 2019 decreased by $22.3 million from Q4 2018, primarily driven by the inventory write-down of $24.0 million. \n * The Company incurred an inventory write-down of $24.0 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $22.1 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-down, gross profit in Q4 2019, would have been $3.6 million, representing a gross margin of 50%. We anticipate inventory write-downs in the short-term due to pricing pressures in the marketplace and while the Company executes its operational repurposing of the Peace Naturals Campus. \n * Reported operating loss of ($63.9) million in Q4 2019 increased by $55.0 million from Q4 2018, primarily driven by the inventory write-down in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($56.6) million in Q4 2019 increased by $47.8 million from Q4 2018, primarily driven by inventory write-downs in Q4 2019 and an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**Full-Year 2019**\n\n * Net revenue of $23.8 million in Full-Year 2019 increased by $11.6 million from Full-Year 2018, primarily driven by an increase in the volume of sales in the Rest of World Segment due to increases in production, increases in the volume of wholesale sales and the launch of the adult-use market in Canada. \n * Gross profit (loss) of ($17.9) million in Full-Year 2019 decreased by $24.1 million from Full-Year 2018, primarily driven by the inventory write-down of $29.4 million. \n * The Company incurred an inventory write-down of $29.4 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $27.5 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-downs, gross profit in Full-Year 2019, would have been $11.6 million, representing a gross margin of 49%. \n * Reported operating loss of ($121.5) million in Full-Year 2019 increased by $100.1 million from Full-Year 2018, primarily driven by inventory write-downs in Full-Year 2019, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs related to the Company\u2019s two research partnerships and one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus. \n * Adjusted operating loss of ($114.2) million in Full-Year 2019 increased by $92.9 million from Full-Year 2018, primarily driven by inventory write-downs in Full-Year 2019, an increase in general and administrative expenses in order to support Cronos Group\u2019s growth strategy, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs related to the Company\u2019s two research partnerships. \n\n**_Business Updates_ **\n\n**Brand Portfolio**\n\nIn December 2019, Cronos Group launched cannabis vaporizer devices for the\nCanadian adult-use market under the COVE\u2122 and Spinach\u2122 brands. In conjunction\nwith this launch, the Company created new, tailored 510 thread vaporizer\nproduct lines for the COVE\u2122 and Spinach\u2122 brands, including cartridges that are\ntamper resistant, made from high-quality stainless-steel components and food\ngrade silicone and have rechargeable draw batteries to prevent overheating.\nThe formulations use premium cannabis extract and come in all-natural terpene-\nrich flavors. The vaporizer products are currently available at cannabis\ncontrol authorities in Ontario, British Columbia, Manitoba, New Brunswick, and\nNova Scotia, as well as from private-sector retailers in Saskatchewan.\n\nIn the fourth quarter, we successfully executed three holiday pop-up shops in\nLos Angeles and New York City to provide consumers with a curated retail\nexperience of its Lord Jones\u2122 products.\n\nCronos Group made the decision to pause distribution of PEACE+\u2122 hemp-derived\nCBD tinctures through Altria Group. Inc.\u2019s (\u201cAltria\u201d) sales and distribution\nnetwork. Cronos Group remains focused on meeting the demands of adult\nconsumers and will continue to evaluate other product formats and categories\nthat we believe may be more suitable for the PEACE+ TM brand in the evolving\nenvironment.\n\n**Global Sales and Distribution**\n\nIn the fourth quarter, Cronos Group began selling cannabis flower and extract\nproducts to cannabis control authorities in Alberta, Manitoba, and Quebec. In\naddition to the new territories, the Company sells dried flower, pre-rolls,\ncannabis oils and cannabis extracts through its adult-use brands, COVE\u2122 and\nSpinach\u2122, to cannabis control authorities in Ontario, British Columbia, Nova\nScotia and Prince Edward Island, as well as to private-sector retailers in\nSaskatchewan.\n\nOn October 25, 2019, Cronos Australia announced the closing of an A$20.0\nmillion initial public offering. Cronos Group currently holds approximately 31\npercent of the issued capital of Cronos Australia. With the initial public\noffering complete, Cronos Group is positioned to continue participating in\nCronos Australia\u2019s growth in the medicinal market in the Asia-Pacific region\nwhile generating value for the Company\u2019s shareholders.\n\nIn the fourth quarter of 2019, Cronos Group completed its first test export of\nPEACE NATURALS\u2122 branded cannabis oil products to Cronos Australia for\ndistribution to the Australian medical market.\n\n**Global Supply Chain**\n\nIn November 2019, Cronos Group began an operational redesign at the Peace\nNaturals Campus to better align the business with our strategic priorities. As\npart of this effort, specific facilities at the Peace Naturals Campus are in\nthe process of being repurposed from cultivation to R&D, with a focus on\ndeveloping new technologies for value-added product manufacturing, and\nproduction of derivative products. This redesign will also increase vault and\nwarehousing capabilities at the facility.\n\nIn the fourth quarter of 2019, the Company recorded pre-tax charges of $7.2\nmillion related to the repurposing efforts at the Peace Naturals Campus, with\n$1.9 million associated with an inventory write-down and $5.3 million of\noperating expenses, primarily related to impairment costs. The Company does\nnot expect to incur any further significant costs related to the repurposing\nactivities.\n\nThe Cronos Israel facility continues to move closer to operational readiness.\nConstruction of Cronos Israel\u2019s greenhouse and facility was completed in the\nthird quarter of 2019. In December 2019, Cronos Israel successfully achieved\nGAP certification for propagation and cultivation, as well as GMP\ncertification for the manufacturing and production facilities. Commencement of\noperations at the Cronos Israel facility will be subject to obtaining the\nremaining necessary cannabis production licenses under applicable law.\n\n**Intellectual Property Initiatives**\n\nGinkgo Bioworks (\u201cGinkgo\u201d) has filed certain patent applications pertaining to\nbiosynthesis of cannabinoids to protect intellectual property developed as\npart of the research progressing under the partnership with Cronos Group.\nUnder the partnership, Cronos Group is the exclusive licensee of the\nintellectual property covered by the patent applications for the target\ncannabinoids.\n\nIn July 2019, Cronos Group acquired a GMP compliant fermentation and\nmanufacturing facility (\u201cCronos Fermentation\u201d) in Winnipeg, Manitoba. The\nacquisition is expected to provide the fermentation and manufacturing\ncapabilities needed in order to capitalize on the progress underway with\nGinkgo by enabling Cronos Group to produce high-quality cannabinoids at scale\nusing fermentation. In November 2019, a team of engineers, scientists,\nproduction and quality assurance personnel previously employed by Apotex\nFermentation Inc., joined Cronos Group.\n\nCronos Group commenced work on developing scale-up and downstream processes at\nCronos Fermentation, while in parallel Ginkgo develops microorganisms for\nproducing cultured cannabinoids. As Cronos Group develops the processes and\nparameters, these learnings will be applied for the strains that will be\nutilized for commercial production of cultured cannabinoids. Commercial\nproduction at the facility is subject to completion of the equipment alignment\nfor cannabinoid-based production, the receipt of the appropriate licenses from\nHealth Canada and the achievement of the relevant milestones under the Ginkgo\nStrategic Partnership.\n\n**Update on COVID-19**\n\nDespite the significant challenges posed by the outbreak of COVID-19, as a\ndesignated essential business, Cronos Group\u2019s global facilities currently\nremain operational. During this unprecedented time, the health, safety and\nwell-being of our employees and our consumers remains Cronos Group\u2019s top\npriority. The Company has business continuity plans in place to support its\nemployee base while continuing to develop and produce reliable, high-quality\nproducts that meet the needs of consumers. As part of this, the Company\nimplemented certain measures such as, among other measures, work-from-home\npolicies for certain employees, enhanced hygiene and sanitation practices,\nmodified schedules and social distancing protocols at the Peace Naturals\nCampus, Redwood, Cronos Fermentation, OGBC and Cronos Israel facilities.\nCronos Group will continue to act in accordance with guidance from local,\nfederal and international health and governmental authorities, and is prepared\nto make additional operational adjustments as necessary.\n\nThe spread and impact from COVID-19 on the global economy continues to rapidly\nevolve, and the ultimate impact of the COVID-19 outbreak is uncertain and\nsubject to change. Despite Cronos Group\u2019s business continuity efforts, the\nCompany may see an impact on certain parts of its business and operations such\nas operational capacity or supply chain delays. The Company continues to\nclosely monitor the rapidly evolving COVID-19 situation, and the impact it may\nhave on the Company, its customers and its supply chain.\n\n**_Rest of World Results_ **\n\nCronos Group\u2019s Rest of World reporting segment includes results of the\nCompany\u2019s operations for all markets outside of the United States of America.\nCronos Group owns and operates license holders, Peace Naturals and OGBC, and\ncurrently sells dried flower, pre-rolls and cannabis extracts in the Canadian\nadult-use and medical markets. The Company established strategic joint\nventures in Canada, Israel and Colombia. Cronos Group currently exports\ncannabis products to countries that permit the import of such products, such\nas Germany and Australia.\n\n_(in thousands of USD )_ | **Three months December 31,** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|--- \n| **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \nCannabis flower | $ | 2,877 | | | $ | 3,228 | | | $ | (351 | ) | | (11 | )% | | $ | 15,020 | | | $ | 9,210 | | | $ | 5,810 | | | 63 | % \nCannabis extracts | 1,678 | | | 1,028 | | | 650 | | | 63 | % | | 5,338 | | | 2,732 | | | 2,606 | | | 95 | % \nOther | 60 | | | 29 | | | 31 | | | 107 | % | | 28 | | | 179 | | | (151 | ) | | (84 | )% \nNet revenue | 4,615 | | | 4,285 | | | 330 | | | 8 | % | | 20,386 | | | 12,121 | | | 8,265 | | | 68 | % \n| | | | | | | | | | | | | | | \nGross profit | (21,805 | ) | | 1,880 | | | (23,685 | ) | | (1,260 | )% | | (19,737 | ) | | 6,213 | | | (25,950 | ) | | (418 | )% \nGross margin | (472 | )% | | 44 | % | | \u2014 | | | (516)pp | | (97 | )% | | 51 | % | | \u2014 | | | (148)pp \n| | | | | | | | | | | | | | | \nReported operating loss | $ | (59,066 | ) | | $ | (8,871 | ) | | $ | (50,195 | ) | | 566 | % | | $ | (106,928 | ) | | $ | (21,341 | ) | | $ | (85,587 | ) | | 401 | % \nAdjusted operating loss (i) | (51,798 | ) | | (8,871 | ) | | (42,927 | ) | | 484 | % | | (99,660 | ) | | (21,341 | ) | | (78,319 | ) | | 367 | % \n \n(i) _ See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted operating loss _\n\n**Fourth Quarter 2019** \n\n * Net revenue of $4.6 million in Q4 2019 increased by $0.3 million from Q4 2018, primarily driven by the introduction of vaporizer products and an increase in the volume of products sold, which were partially offset by a decrease in the price of products sold. \n * Gross profit (loss) of ($21.8) million in Q4 2019 decreased by $23.7 million from Q4 2018, primarily driven by the inventory write-down of $24.0 million. \n * The Company incurred an inventory write-down of $24.0 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $22.1 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-down, gross profit in Q4 2019, would have been $2.2 million, representing a gross margin of 48%. We anticipate inventory write-downs in the short-term due to pricing pressures in the marketplace and while the Company executes its operational repurposing of the Peace Naturals Campus. \n * Reported operating loss of ($59.1) million in Q4 2019 increased by $50.2 million from Q4 2018, primarily driven by the inventory write-down in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($51.8) million in Q4 2019 increased by $42.9 million from Q4 2018, primarily driven by inventory write-downs in Q4 2019 and an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**Full-Year 2019**\n\n * Net revenues of $20.4 million in Full-Year 2019 increased by $8.3 million from Full-Year 2018, primarily driven by higher volume of wholesale sales and an increase in the volume of products sold due to increased cannabis production and the growth of the adult-use market in Canada. \n * Gross profit (loss) of ($19.7) million in Full-Year 2019 decreased by $26.0 million from Full-Year 2018, primarily driven by the inventory write-down of $29.4 million. \n * The Company incurred an inventory write-down of $29.4 million, made up of a one-time charge of $1.9 million, related to the repurposing of certain facilities at the Peace Naturals Campus, and a $27.5 million write-down on cannabis plants, based on the estimated market value of the specific strains previously in production, and cannabis oil, primarily driven by downward pressure in market prices during the year. If we were to adjust for the effects of the inventory write-downs, gross profit in Full-Year 2019, would have been $9.7 million, representing a gross margin of 48%. \n * Reported operating loss of ($106.9) million in Full-Year 2019 increased $85.6 million from Full-Year 2018, primarily driven by inventory write-downs in Q4 2019, one-time charges related to the repurposing of certain facilities at the Peace Naturals Campus, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n * Adjusted operating loss of ($99.7) million in Full-Year 2019 increased by $78.3 million from Full-Year 2018, primarily driven by inventory write-downs in Q4 2019, an increase in general and administrative expenses in order to support the segment's growth, an increase in sales and marketing in order to create, build and develop brands and an increase in R&D costs. \n\n**_United States Results_ **\n\nAs a result of Cronos Group\u2019s acquisition of Redwood on September 5, 2019, a\nmanufacturer and distributor of hemp-derived CBD infused products in the\nUnited States under the brand, Lord Jones\u2122, the Company established the United\nStates reporting segment.\n\n_(in thousands of USD)_ | **Three months December 31** | | **Change** | | **Year ended December 31,** | | **Change** \n---|---|---|---|---|---|---|--- \n| **2019** | | **2018** | | **$** | | **%** | | **2019** | | **2018** | | **$** | | **%** \nNet revenue | $ | 2,693 | | | \u2014 | | | N/A | | N/A | | $ | 3,364 | | | \u2014 | | | N/A | | N/A \n| | | | | | | | | | | | | | | \nGross profit | 1,430 | | | \u2014 | | | N/A | | N/A | | 1,873 | | | \u2014 | | | N/A | | N/A \nGross margin | 53 | % | | \u2014 | | | N/A | | N/A | | 56 | % | | \u2014 | | | N/A | | N/A \n| | | | | | | | | | | | | | | \nReported operating loss | $ | (1,797 | ) | | \u2014 | | | N/A | | N/A | | $ | (2,777 | ) | | \u2014 | | | N/A | | N/A \n \n**Fourth Quarter 2019**\n\n * Net revenues of $2.7 million in Q4 2019, driven by expanded distribution of Lord Jones TM branded products through online sales and an increased retail channel footprint. \n * Gross profit of $1.4 million in Q4 2019, driven by strong sales prices and brand equity. Gross margin for Q4 2019 was 53%. \n * Operating loss of ($1.8) million in Q4 2019, driven by increased investments in sales and marketing and general and administrative expenses as the business focuses on growth prospects and developing new brands and products. \n\n**Full-Year 2019**\n\n * Net revenue of $3.4 million in Full-Year 2019, driven by the Redwood Acquisition on September 5, 2019. \n * Gross profit of $1.9 million in Full-Year 2019, driven by sales through e-commerce, retail and hospitality channels within Q4 2019. Gross margin in Full-Year 2019 was 56%. \n * Operating loss of $2.8 million in Full-Year 2019, driven by the increase in gross profit and the increased sales and marketing costs incurred in relation to the preparation for the launch of the PEACE+\u2122 U.S hemp-derived CBD brand, as well as the introduction of several new U.S. hemp-derived CBD products under the Lord Jones\u2122 brand. \n\n**_Conference Call_ **\n\nThe Company will host a conference call and live audio webcast on Monday,\nMarch 30, 2020 at 5:30 p.m. EDT to discuss 2019 fourth quarter and full-year\nresults, the Company's outlook and other matters. The call will last\napproximately one hour. An audio replay of the call will be archived on the\nCompany\u2019s website for replay. Instructions for the conference call are\nprovided below:\n\n * _Live audio webcast:_[ https://ir.thecronosgroup.com/events-presentations ](https://ir.thecronosgroup.com/events-presentations) _ _\n * _Toll Free from the U.S. and Canada dial-in: (866) 795-2258_\n * _International dial-in: (409) 937-8902_\n * _Conference ID: 6999389_\n\n**About Cronos Group**\n\nCronos Group is an innovative global cannabinoid company with international\nproduction and distribution across five continents. Cronos Group is committed\nto building disruptive intellectual property by advancing cannabis research,\ntechnology and product development. With a passion to responsibly elevate the\nconsumer experience, Cronos Group is building an iconic brand portfolio.\nCronos Group\u2019s portfolio includes [ _PEACE NATURALS_\n](https://www.peacenaturals.com/) \u2122, a global health and wellness platform,\ntwo adult-use brands, [ _COVE_ ](https://covecannabis.ca/) \u2122 and [ _Spinach_\n](https://spinachcannabis.com/) \u2122, and two hemp-derived CBD brands, [ _Lord\nJones_ ](https://lordjones.com/) \u2122 and [ _PEACE+_\n](https://www.peaceplus.com/) \u2122. For more information about Cronos Group and\nits brands, please visit: _[ www.thecronosgroup.com\n](http://www.thecronosgroup.com \"www.thecronosgroup.com\") _ .\n\n**Forward-looking statements**\n\nThis press release may contain information that may constitute forward-looking\ninformation and forward-looking statements within the meaning of applicable\nsecurities laws (collectively, \u201cForward-Looking Statements\u201d), which are based\nupon our current internal expectations, estimates, projections, assumptions\nand beliefs. All information that is not clearly historical in nature may\nconstitute Forward-Looking Statements. In some cases, Forward-Looking\nStatements can be identified by the use of forward-looking terminology such as\n\u201cexpect\u201d, \u201clikely\u201d, \u201cmay\u201d, \u201cwill\u201d, \u201cshould\u201d, \u201cintend\u201d, \u201canticipate\u201d,\n\u201cpotential\u201d, \u201cproposed\u201d, \u201cestimate\u201d and other similar words, expressions and\nphrases, including negative and grammatical variations thereof, or statements\nthat certain events or conditions \u201cmay\u201d or \u201cwill\u201d happen, or by discussion of\nstrategy. Forward-Looking Statements include estimates, plans, expectations,\nopinions, forecasts, projections, targets, guidance or other statements that\nare not statements of historical fact.\n\nForward-Looking Statements include, but are not limited to, statements with\nrespect to:\n\n * the uncertainties associated with the COVID-19 pandemic, including our ability to continue operations, the ability of our suppliers and distribution channels to continue to operate, and the use of our products by consumers; \n * laws and regulations and any amendments thereto applicable to our business and the impact thereof including uncertainty regarding the application of United States (\u201cU.S.\u201d) state and federal law to U.S. hemp (including CBD) products and the scope of any regulations by the U.S. Federal Drug Administration (the \u201cFDA\u201d), the U.S. Federal Trade Commission (the \u201cFTC\u201d), the U.S. Patent and Trademark Office and any state equivalent regulatory agencies over U.S. hemp (including CBD) products; \n * expectations regarding the regulation of the U.S. hemp industry in the U.S., including the promulgation of regulations for the U.S. hemp industry by the U.S. Department of Agriculture (the \u201cUSDA\u201d); \n * the grant, renewal and impact of any license or supplemental license to conduct activities with cannabis or any amendments thereof; \n * our international activities and joint venture interests, including required regulatory approvals and licensing, anticipated costs and timing, and expected impact; \n * the ability to successfully create and launch brands and further create, launch and scale U.S. hemp-derived consumer products, including through the Redwood Acquisition (as defined herein) and cannabis products in jurisdictions where such products are legal and that we currently operate in; \n * the benefits, viability, safety, efficacy, dosing and social acceptance of cannabis including CBD and other cannabinoids; \n * the anticipated benefits and impact of the Altria Group Inc.\u2019s C$2.4 billion (approximately $1.8 billion) investment in us (the \u201cAltria Investment\u201d); \n * the potential exercise of the warrant held by Altria Group Inc., pre-emptive rights and/or top-up rights in connection with the Altria Investment, including proceeds to us that may result therefrom; \n * expectations regarding the use of proceeds of equity financings, including the proceeds from the Altria Investment; \n * the legalization of the use of cannabis for medical or adult-use in jurisdictions outside of Canada, the related timing and impact thereof and our intentions to participate in such markets, if and when such use is legalized; \n * expectations regarding the potential success of, and the costs and benefits associated with, our joint ventures, strategic alliances and equity investments, including the strategic partnership with Ginkgo Bioworks, Inc.; \n * our ability to execute on our strategy and the anticipated benefits of such strategy; \n * the ongoing impact of the legalization of additional cannabis product types and forms for adult-use in Canada, including federal, provincial, territorial and municipal regulations pertaining thereto, the related timing and impact thereof and our intentions to participate in such markets; \n * the future performance of our business and operations; \n * our competitive advantages and business strategies; \n * the competitive conditions of the industry; \n * the expected growth in the number of customers using our products; \n * our ability or plans to identify, develop, commercialize or expand our technology and research and development (\u201cR&D\u201d) initiatives in cannabinoids, or the success thereof; \n * expectations regarding acquisitions and the anticipated benefits therefrom, including the Redwood Acquisition and the acquisition of certain assets from Apotex Fermentation Inc.; \n * expectations regarding revenues, expenses and anticipated cash needs; \n * expectations regarding cash flow, liquidity and sources of funding; \n * expectations regarding capital expenditures; \n * the expansion of our production and manufacturing, the costs and timing associated therewith and the receipt of applicable production and sale licenses; \n * the expected growth in our growing, production and supply chain capacities; \n * expectations regarding the resolution of litigation and other legal proceedings; \n * expectations with respect to future production costs; \n * expectations with respect to future sales and distribution channels; \n * the expected methods to be used to distribute and sell our products; \n * our future product offerings; \n * the anticipated future gross margins of our operations; \n * accounting standards and estimates; \n * expectations regarding our distribution network; and \n * expectations regarding the costs and benefits associated with our contracts and agreements with third parties, including under our third-party supply and manufacturing agreements. \n\nCertain of the Forward-Looking Statements contained herein concerning the\nindustries in which we conduct our business are based on estimates prepared by\nus using data from publicly available governmental sources, market research,\nindustry analysis and on assumptions based on data and knowledge of these\nindustries, which we believe to be reasonable. However, although generally\nindicative of relative market positions, market shares and performance\ncharacteristics, such data is inherently imprecise. The industries in which we\nconduct our business involve risks and uncertainties that are subject to\nchange based on various factors, which are described further below.\n\nThe Forward-Looking Statements contained herein are based upon certain\nmaterial assumptions that were applied in drawing a conclusion or making a\nforecast or projection, including: (i) management\u2019s perceptions of historical\ntrends, current conditions and expected future developments; (ii) our ability\nto generate cash flow from operations; (iii) general economic, financial\nmarket, regulatory and political conditions in which we operate; (iv) the\nproduction and manufacturing capabilities and output from our facilities and\nour joint ventures, strategic alliances and equity investments; (v) consumer\ninterest in our products; (vi) competition; (vii) anticipated and\nunanticipated costs; (viii) government regulation of our activities and\nproducts including but not limited to the areas of taxation and environmental\nprotection; (ix) the timely receipt of any required regulatory authorizations,\napprovals, consents, permits and/or licenses; (x) our ability to obtain\nqualified staff, equipment and services in a timely and cost-efficient manner;\n(xi) our ability to conduct operations in a safe, efficient and effective\nmanner; (xii) our ability to realize anticipated benefits, synergies or\ngenerate revenue, profits or value from our recent acquisitions into our\nexisting operations; (xiii) our ability to continue to operate in light of the\nCOVID-19 pandemic and the impact of the pandemic on sales of our products and\nour distribution channels; and (xiv) other considerations that management\nbelieves to be appropriate in the circumstances. While our management\nconsiders these assumptions to be reasonable based on information currently\navailable to management, there is no assurance that such expectations will\nprove to be correct.\n\nBy their nature, Forward-Looking Statements are subject to inherent risks and\nuncertainties that may be general or specific and which give rise to the\npossibility that expectations, forecasts, predictions, projections or\nconclusions will not prove to be accurate, that assumptions may not be correct\nand that objectives, strategic goals and priorities will not be achieved. A\nvariety of factors, including known and unknown risks, many of which are\nbeyond our control, could cause actual results to differ materially from the\nForward-Looking Statements in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf. Such factors include, without limitation, the risk that the\nCOVID-19 pandemic may disrupt our operations and those of our suppliers and\ndistribution channels and negatively impact the use of our products; that cost\nsavings and any other synergies from the Altria Investment may not be fully\nrealized or may take longer to realize than expected; disruption from the\nAltria Investment making it more difficult to maintain relationships with\ncustomers, employees or suppliers; future levels of revenues; consumer demand\nfor cannabis and U.S. hemp products; our ability to manage disruptions in\ncredit markets or changes to our credit rating; future levels of capital,\nenvironmental or maintenance expenditures, general and administrative and\nother expenses; the success or timing of completion of ongoing or anticipated\ncapital or maintenance projects; business strategies, growth opportunities and\nexpected investment; the adequacy of our capital resources and liquidity,\nincluding but not limited to, availability of sufficient cash flow to execute\nour business plan (either within the expected timeframe or at all); the\npotential effects of judicial or other proceedings on our business, financial\ncondition, results of operations and cash flows; volatility in and/or\ndegradation of general economic, market, industry or business conditions;\ncompliance with applicable environmental, economic, health and safety, energy\nand other policies and regulations and in particular health concerns with\nrespect to vaping and the use of cannabis and U.S. hemp products in vaping\ndevices; the anticipated effects of actions of third parties such as\ncompetitors, activist investors or federal (including U.S. federal), state,\nprovincial, territorial or local regulatory authorities, self-regulatory\norganizations, plaintiffs in litigation or persons threatening litigation;\nchanges in regulatory requirements in relation to our business and products;\nand the factors discussed under the heading \u201cRisk Factors\u201d in this press\nrelease. Readers are cautioned to consider these and other factors,\nuncertainties and potential events carefully and not to put undue reliance on\nForward-Looking Statements.\n\nForward-Looking Statements are provided for the purposes of assisting the\nreader in understanding our financial performance, financial position and cash\nflows as at and for periods ended on certain dates and to present information\nabout management\u2019s current expectations and plans relating to the future, and\nthe reader is cautioned that the Forward-Looking Statements may not be\nappropriate for any other purpose. While we believe that the assumptions and\nexpectations reflected in the Forward-Looking Statements are reasonable based\non information currently available to management, there is no assurance that\nsuch assumptions and expectations will prove to have been correct. Forward-\nLooking Statements are made as of the date they are made and are based on the\nbeliefs, estimates, expectations and opinions of management on that date. We\nundertake no obligation to update or revise any Forward-Looking Statements,\nwhether as a result of new information, estimates or opinions, future events\nor results or otherwise or to explain any material difference between\nsubsequent actual events and such Forward-Looking Statements. The Forward-\nLooking Statements contained in this press release and other reports we file\nwith, or furnish to, the SEC and other regulatory agencies and made by our\ndirectors, officers, other employees and other persons authorized to speak on\nour behalf are expressly qualified in their entirety by these cautionary\nstatements.\n\n**Use of Non-GAAP Measures**\n\nCronos Group reports its financial results in accordance with accounting\nprinciples generally recognized in the United States (\u201cGAAP\u201d). However,\nmanagement use various measures which are not recognized under GAAP such as\nadjusted operating loss, adjusted operating loss by business segment and\nadjusted earnings before interest, tax depreciation and amortization\n(\u201cAdjusted EBITDA\u201d). These non-GAAP measures may not be calculated the same as\nsimilarly titled measures used by other companies and should thus be\nconsidered as supplemental in nature and not considered in isolation or as a\nsubstitute for the related financial information prepared in accordance with\nGAAP. Management believes these measures provide useful insight into\nunderlying trends and results and will provide a more meaningful comparison of\nyear-over-year results, going forward. Management uses these metrics for\nplanning, forecasting and evaluating business and financial performance,\nincluding allocating resources. Reconciliations of each non-GAAP measure to US\nGAAP recognized measures are provided below. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Balance Sheets** \n**As of December 31, 2019 and 2018** \n_(In thousands of USD)_\n\n| **As of December 31,** \n---|--- \n| **2019** | | **2018** \n**Assets** | | | \nCurrent assets | | | \nCash and cash equivalents | $ | 1,199,693 | | | $ | 23,927 | \nShort-term investments | 306,347 | | | \u2014 | \nAccounts receivable, net of current expected credit loss (\"CECL\") of $136 and $37 as of December 31, 2019 and 2018, respectively | 4,638 | | | 3,052 | \nOther receivables | 7,232 | | | 2,507 | \nCurrent portion of loans receivable | 4,664 | | | 230 | \nPrepaids and other assets | 9,395 | | | 2,842 | \nInventory | 38,043 | | | 7,386 | \nTotal current assets | 1,570,012 | | | 39,944 | \nInvestments in equity accounted investees | 557 | | | 2,960 | \nAdvances to joint ventures | 19,437 | | | 4,689 | \nOther investments | \u2014 | | | 297 | \nLoan receivable | 44,967 | | | \u2014 | \nProperty, plant and equipment | 161,809 | | | 125,905 | \nRight-of-use assets | 6,546 | | | 125 | \nIntangible assets | 72,320 | | | 8,237 | \nGoodwill | 214,794 | | | 1,314 | \n**Total assets** | $ | 2,090,442 | | | $ | 183,471 | \n| | | \n**Liabilities** | | | \nCurrent liabilities | | | \nAccounts payable and other liabilities | $ | 35,301 | | | $ | 33,239 | \nCurrent portion of lease obligation | 427 | | | 30 | \nDerivative liabilities (Note 28) | 297,160 | | | \u2014 | \nTotal current liabilities | 332,888 | | | 33,269 | \nDue to non-controlling interests | 1,844 | | | 1,566 | \nLease obligation | 6,680 | | | 87 | \n**Total liabilities** | 341,412 | | | 34,922 | \nCommitments and contingencies (Note 21 & 22) | | | \n**Shareholders\u2019 equity** | | | \nShare capital (authorized: 2019 and 2018 \u2013 unlimited; issued: 2019 \u2013 348,817,472; 2018 \u2013 178,720,022) | 561,165 | | | 175,001 | \nAdditional paid-in capital | 23,234 | | | 11,263 | \nRetained earnings (accumulated deficit) | 1,137,646 | | | (27,945 | \nAccumulated other comprehensive income (loss) | 27,838 | | | (9,870 | \nTotal equity attributable to shareholders of Cronos Group | 1,749,883 | | | 148,449 | \nNon-controlling interests | (853 | ) | | 100 | \n**Total shareholders' equity** | 1,749,030 | | | 148,549 | \n**Total liabilities and shareholders' equity** | $ | 2,090,442 | | | $ | 183,471 | \n \nSee notes to consolidated financial statements. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n**For the years ended December 31, 2019, 2018, and 2017** \n_(In thousands of USD, except share and per share amounts)_\n\n| **Year ended December 31,** \n---|--- \n| **2019** | | **2018** | | **2017** \n**Net revenue, before excise taxes** | $ | 25,639 | | | $ | 13,234 | | | $ | 3,147 | \nExcise taxes | (1,889 | ) | | (1,113 | ) | | \u2014 | \n**Net revenue** | 23,750 | | | 12,121 | | | 3,147 | \nCost of sales | 12,174 | | | 5,908 | | | 1,573 | \nInventory write-down | 29,440 | | | \u2014 | | | \u2014 | \n**Gross profit (loss)** | (17,864 | ) | | 6,213 | | | 1,574 | \n**Operating expenses** | | | | | \nSales and marketing | 23,045 | | | 3,173 | | | 443 | \nResearch and development | 12,155 | | | 1,814 | | | \u2014 | \nGeneral and administrative | 49,372 | | | 13,447 | | | 4,904 | \nShare-based payments | 11,619 | | | 8,151 | | | 1,931 | \nDepreciation and amortization | 2,101 | | | 969 | | | 417 | \nRepurposing charges | 5,328 | | | \u2014 | | | \u2014 | \nTotal operating expenses | 103,620 | | | 27,554 | | | 7,695 | \n**Operating loss** | (121,484 | ) | | (21,341 | ) | | (6,121 | ) \n**Other income (expense)** | | | | | \nInterest income (expense) | 27,982 | | | 83 | | | (97 | ) \nFinancing and transaction costs | (32,208 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of derivative liabilities (Note 28) | 1,276,819 | | | \u2014 | | | \u2014 | \nGain on revaluation of financial liabilities | 197 | | | \u2014 | | | \u2014 | \nGain on disposal of Whistler | 15,530 | | | \u2014 | | | \u2014 | \nGain on other investments | 747 | | | 164 | | | 3,746 | \nShare of income (loss) from investments in equity accounted investees | (2,009 | ) | | (723 | ) | | 127 | \nTotal other income (expense) | 1,287,058 | | | (476 | ) | | 3,776 | \nIncome (loss) before income taxes | 1,165,574 | | | (21,817 | ) | | (2,345 | ) \nIncome tax recovery | \u2014 | | | \u2014 | | | (862 | ) \n**Net income (loss)** | $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Net income (loss) attributable to:** | | | | | \nCronos Group | $ | 1,166,506 | | | $ | (21,636 | ) | | $ | (1,483 | ) \nNon-controlling interests | (932 | ) | | (181 | ) | | 0 | \n| $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Other comprehensive income (loss)** | | | | | \nForeign exchange gain (loss) on translation | $ | 37,687 | | | $ | (12,337 | ) | | $ | 2,456 | \nGain on revaluation and disposal of other investments, net of tax | \u2014 | | | 3 | | | 415 | \nUnrealized gains reclassified to net income | \u2014 | | | \u2014 | | | (12 | ) \nTotal other comprehensive income (loss) | 37,687 | | | (12,334 | ) | | 2,859 | \n**Comprehensive income (loss)** | $ | 1,203,261 | | | $ | (34,151 | ) | | $ | 1,376 | \n**Comprehensive income (loss) attributable to:** | | | | | \nCronos Group | $ | 1,204,214 | | | $ | (33,964 | ) | | $ | 1,376 | \nNon-controlling interests | (953 | ) | | (187 | ) | | \u2014 | \n| $ | 1,203,261 | | | $ | (34,151 | ) | | $ | 1,376 | \n**Net income (loss) per share** | | | | | \nBasic | $ | 3.76 | | | $ | (0.13 | ) | | $ | (0.01 | ) \nDiluted | 3.33 | | | (0.13 | ) | | (0.01 | ) \n**Weighted average number of outstanding shares** | | | | | \nBasic | 310,067,179 | | | 172,269,170 | | | 134,803,542 | \nDiluted | 342,811,992 | | | 172,269,170 | | | 176,789,161 | \n \nSee notes to consolidated financial statements.\n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Net Income (Loss) and Comprehensive Income\n(Loss)** \n**For the quarters ended December 31, 2019 and 2018** \n_(In thousands of USD, except share and per share amounts)_\n\n| | **Three months ended December 31,** \n---|---|--- \n| | **2019** | | **2018** \n**Net revenue, before excise taxes** | $ | 7,915 | | | 5,398 | \nExcise taxes | | (607 | ) | | (1,113 | ) \n**Net revenue** | | 7,308 | | | 4,285 | \nCost of sales | | 3,667 | | | 2,405 | \nInventory write-down | | 24,016 | | | \u2014 | \n**Gross profit** | | (20,375 | ) | | 1,880 | \n**Operating expenses** | | | | \nSales and marketing | | 13,324 | | | 1,970 | \nResearch and development | | 6,079 | | | 1,814 | \nGeneral and administrative | | 14,314 | | | 4,544 | \nShare-based payments | | 3,670 | | | 2,183 | \nDepreciation and amortization | | 779 | | | 240 | \nRepurposing costs | | 5,328 | | | \u2014 | \nTotal operating expenses | | 43,494 | | | 10,751 | \n**Operating loss** | | (63,869 | ) | | (8,871 | ) \n**Other income (expense)** | | | | \nInterest income (expense) | | 7,514 | | | 177 | \nFinancing and transaction cost | | (524 | ) | | \u2014 | \nGain (loss) on revaluation of derivative liabilities (Note 11) | | 118,811 | | | \u2014 | \nGain on other investments | | 2 | | | (225 | ) \nGain on disposal of Whistler Medical Marijuana Company | | 32 | | | (15 | ) \nShare of income (loss) from investments in equity accounted investees | | (505 | ) | | (758 | ) \nGain (loss) on revaluation of financial liabilities | | 50 | | | \u2014 | \nTotal other income (expense) | | 125,380 | | | (821 | ) \nIncome (loss) before income taxes | | 61,511 | | | (9,692 | ) \nIncome tax recovery | | 58 | | | \u2014 | \n**Net income (loss)** | | 61,569 | | | (9,692 | ) \n**Net income (loss) attributable to:** | | | | \nCronos Group | $ | 62,005 | | | (9,558 | ) \nNon-controlling interests | | (436 | ) | | (134 | ) \n| $ | 61,569 | | | (9,692 | ) \n**Other comprehensive income (loss)** | | | | \nForeign exchange gain (loss) on translation | $ | 28,264 | | | (8,511 | ) \nGain on revaluation and disposal of other investments, net of tax | | \u2014 | | | 3 | \nTotal other comprehensive income (loss) | $ | 28,264 | | | (8,508 | ) \n**Comprehensive income (loss)** | | | | \n**Comprehensive income (loss) attributable to:** | | | | \nCronos Group | $ | 90,284 | | | (18,056 | ) \nNon-controlling interests | | (451 | ) | | (144 | ) \n| $ | 89,833 | | | (18,200 | ) \n**Net income (loss) per share** | | | | \nBasic | | $ | 0.18 | | | $ | (0.05 | ) \nDiluted | | 0.16 | | | (0.05 | ) \n**Weighted average number of outstanding shares** | | | | \nBasic | | 345,981,864 | | | 178,720,022 | \nDiluted | | 375,318,457 | | | 178,720,022 | \n \n \n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n**For the years ended December 31, 2019, 2018, and 2017** \n_(In thousands of USD)_\n\n| | **Year ended December 31,** \n---|---|--- \n| **2019** | | **2018** | | **2017** \n**Operating activities** | | | | | \nNet income (loss) | $ | 1,165,574 | | | $ | (21,817 | ) | | $ | (1,483 | ) \n**Items not affecting cash:** | | | | | \nInventory write-down | 29,440 | | | \u2014 | | | \u2014 | \nShare-based payments | 11,619 | | | 8,151 | | | 1,931 | \nDepreciation and amortization | 3,913 | | | 1,937 | | | 768 | \nShare of loss (income) from investments in equity accounted investees | 2,009 | | | 723 | | | (127 | ) \nNon-cash repurposing costs | 4,439 | | | \u2014 | | | \u2014 | \nGain on disposal of Whistler | (15,530 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of derivative liabilities (Note 28) | (1,276,819 | ) | | \u2014 | | | \u2014 | \nGain on revaluation of financial liabilities | (197 | ) | | \u2014 | | | \u2014 | \nGain on other investments | (747 | ) | | (164 | ) | | (3,746 | ) \nDeferred income tax expense (recovery) | \u2014 | | | \u2014 | | | (862 | ) \nForeign exchange gain | 115 | | | (9 | ) | | \u2014 | \nNon-cash sales and marketing | 410 | | | \u2014 | | | \u2014 | \nNon-cash interest | (25 | ) | | \u2014 | | | \u2014 | \nNet changes in non-cash working capital | (54,208 | ) | | 3,662 | | | (759 | ) \nCash flows used in operating activities | (130,007 | ) | | (7,517 | ) | | (4,278 | ) \n**Investing activities** | | | | | \nPurchase of short-term investments, net | (299,923 | ) | | \u2014 | | | \u2014 | \nRepayment of purchase price liability | \u2014 | | | \u2014 | | | (1,997 | ) \nInvestments in equity accounted investees | (1,658 | ) | | (480 | ) | | (830 | ) \nInvestment in Vivo | \u2014 | | | \u2014 | | | (783 | ) \nProceeds from sale of other investments | 19,614 | | | 747 | | | 8,388 | \nPayment to exercise Vivo warrants | \u2014 | | | (88 | ) | | (1,749 | ) \nAdvances to joint ventures | (15,135 | ) | | (5,358 | ) | | \u2014 | \nPurchase of property, plant and equipment, net of disposals | (38,664 | ) | | (88,308 | ) | | (32,926 | ) \nPayment of accrued interest on construction loan payable | (89 | ) | | (143 | ) | | \u2014 | \nPurchase of intangible assets | (289 | ) | | (278 | ) | | \u2014 | \nAcquisition of Redwood | (224,295 | ) | | \u2014 | | | \u2014 | \nAdvances on loans receivable | (43,337 | ) | | \u2014 | | | \u2014 | \nProceeds from repayment of loans receivable | 237 | | | \u2014 | | | \u2014 | \nCash flows used in investing activities | (603,539 | ) | | (93,908 | ) | | (29,897 | ) \n**Financing activities** | | | | | \nRepayment of lease obligations | (919 | ) | | \u2014 | | | \u2014 | \nProceeds from Altria Investment | 1,809,556 | | | \u2014 | | | \u2014 | \nProceeds from exercise of Top-up Rights | 67,051 | | | \u2014 | | | \u2014 | \nProceeds from exercise of warrants and options | 1,455 | | | 2,612 | | | 1,697 | \nWithholding taxes paid on share appreciation rights | (915 | ) | | (16 | ) | | \u2014 | \nProceeds from share issuance | \u2014 | | | 115,510 | | | 38,542 | \nShare issuance costs | (3,722 | ) | | (7,577 | ) | | (2,114 | ) \nProceeds from construction loan payable | \u2014 | | | 11,583 | | | 5,022 | \nRepayment of construction loan payable | (15,971 | ) | | \u2014 | | | \u2014 | \nAdvance under Credit Facility | 48,715 | | | \u2014 | | | \u2014 | \nRepayment of Credit Facility | (48,309 | ) | | \u2014 | | | \u2014 | \nRepayment of mortgage payable | \u2014 | | | \u2014 | | | (3,084 | ) \nTransaction costs paid on construction loan payable | \u2014 | | | \u2014 | | | (989 | ) \nCash flows provided by financing activities | 1,856,941 | | | 122,112 | | | 39,074 | \nEffect of foreign currency translation on cash and cash equivalents | 52,371 | | | (4,085 | ) | | (152 | ) \nIncrease in cash and cash equivalents | 1,175,766 | | | 16,602 | | | 4,747 | \nCash and cash equivalents, beginning of period | 23,927 | | | 7,325 | | | 2,578 | \nCash and cash equivalents, end of period | $ | 1,199,693 | | | $ | 23,927 | | | $ | 7,325 | \n \n \nSee notes to consolidated financial statements. \n\n** \n**\n\n**Cronos Group Inc.** \n**Consolidated Statements of Cash Flows** \n**For the quarters ended December 31, 2019 and 2018** \n_(In thousands of USD)_\n\n| | **Three months December 31,** \n---|---|--- \n| | **2019** | | **2018** \n**Operating activities** | | | \nNet income (loss) | 61,570 | | | (9,692 | ) \nItems not affecting cash: | | | \nInventory write down | 24,016 | | | \u2014 | \nShare-based payments | 3,670 | | | 2,182 | \nDepreciation and amortization | 957 | | | 928 | \nShare of loss (income) from investments in equity accounted investees | 505 | | | 773 | \nNon-cash repurposing costs | 4,439 | | | \u2014 | \nGain on disposal of Whistler | (33 | ) | | \u2014 | \nGain on revaluation of derivative liabilities | (118,811 | ) | | \u2014 | \nGain on revaluation of financial liabilities | (50 | ) | | \u2014 | \nGain on other investments | (2 | ) | | 225 | \nDeferred income tax (recovery) expense | (58 | ) | | \u2014 | \nForeign exchange gain | (692 | ) | | (1 | ) \nNon-cash sales and marketing | 410 | | | \u2014 | \nNon-cash interest | (25 | ) | | \u2014 | \nNet changes in non-cash working capital | (29,110 | ) | | 23,882 | \nCash flows used in operating activities | (53,214 | ) | | 18,297 | \n**Investing activities** | | | \nPurchase of short term investments | 84,365 | | | \u2014 | \nRepayment of purchase price liability | \u2014 | | | \u2014 | \nInvestments in equity accounted investees | \u2014 | | | (326 | ) \nProceeds from sale of other investments | \u2014 | | | (10 | ) \nPayment to exercise Vivo Cannabis (\"Vivo\") warrants | \u2014 | | | 1 | \nAdvances to joint ventures | 816 | | | (2,291 | ) \nPurchase of property, plant and equipment | (1,042 | ) | | (32,625 | ) \nPayments of interest on construction in progress | \u2014 | | | 2 | \nPurchase of intangible assets | 285 | | | (51 | ) \nAcquisition of Redwood | 2,929 | | | \u2014 | \nAdvances on loans receivable | (10,325 | ) | | \u2014 | \nProceeds from repayment of loans receivable | (1 | ) | | \u2014 | \nCash assumed on acquisition | (2,957 | ) | | \u2014 | \nCash assumed on acquisition of Cronos Israel | \u2014 | | | (998 | ) \nCash flows used in investing activities | 74,070 | | | (36,298 | ) \n**Financing activities** | | | \nAdvance from non-controlling interests | (183 | ) | | \u2014 | \nRepayment of lease liabilities | (505 | ) | | \u2014 | \nProceeds from Altria Investment | \u2014 | | | \u2014 | \nProceeds from exercise of Top-up Rights | 35,485 | | | \u2014 | \nProceeds from exercise of options and warrants | \u2014 | | | (15 | ) \nWithholding taxes paid on share appreciation rights | (54 | ) | | (16 | ) \nProceeds from share issuance | \u2014 | | | \u2014 | \nShare issuance costs | \u2014 | | | 26 | \nProceeds from construction loan payable | \u2014 | | | 11,583 | \nRepayment of construction loan payable | \u2014 | | | \u2014 | \nAdvance under Credit Facility | \u2014 | | | \u2014 | \nRepayment of Credit Facility | \u2014 | | | \u2014 | \nRepayment of mortgage payable | \u2014 | | | \u2014 | \nTransaction costs paid on construction loan payable | \u2014 | | | \u2014 | \nCash flows provided by financing activities | 34,743 | | | 11,578 | \nEffect of foreign currency translation on cash and cash equivalents | 29,680 | | | (1,782 | ) \nIncrease (decrease) in cash and cash equivalents | 85,279 | | | (8,205 | ) \nCash and cash equivalents, beginning of period | 1,114,414 | | | 32,132 | \nCash and cash equivalents, end of period | $ | 1,199,693 | | | $ | 23,927 | \n \n**Non-GAAP Measures** \n\nThe Company uses certain measures that are not recognized under GAAP. These\nfinancial measures are not recognized under GAAP, do not have a standardized\nmeaning prescribed by GAAP and are therefore unlikely to be comparable to\nsimilar measures presented by other companies. Rather, these measures are\nprovided as a supplement to those GAAP measures to provide additional\ninformation regarding our results of operations from management\u2019s perspective.\nAccordingly, non-GAAP measures should not be considered a substitute for, or\nsuperior to, the financial information prepared and presented in accordance\nwith GAAP. All non-GAAP measures presented in this press release are\nreconciled to their closest reported GAAP measure. Reconciliations of\nhistorical adjusted financial measures to corresponding GAAP measures are\nprovided below.\n\n_Adjusted operating loss_ \nManagement reviews operating loss on an adjusted basis, which excludes certain\nincome and expense items that management believes are not part of underlying\noperations. These items include repurposing charges. Management does not view\nthese items to be part of underlying results as they may be highly variable,\nmay be infrequent, are difficult to predict and can distort underlying\nbusiness trends and results.\n\nManagement believes that adjusted operating loss provides useful insight into\nunderlying business trends and results and provides a more meaningful\ncomparison of year-over-year results. Management uses adjusted operating loss\nfor planning, forecasting and evaluating business and financial performance,\nincluding allocating resources and evaluating results relative to employee\ncompensation targets.\n\n_(In thousands of USD)_ | | **Three months ended December 31,** | | **Year ended December 31,** \n---|---|---|---|--- \n| | **2019** | | **2018** | | **2019** | | **2018** \nReported operating loss | | $ | (63,869 | ) | | $ | (8,871 | ) | | $ | (121,484 | ) | | $ | (21,341 | ) \nAdjustments | | | | | | | | \nRepurposing charges | | 7,268 | | | \u2014 | | | 7,268 | | | \u2014 | \nAdjusted operating loss | | (56,601 | ) | | (8,871 | ) | | (114,216 | ) | | (21,341 | ) \n \n_ \n_\n\n_Adjusted operating loss by business segment_ \nManagement reviews segment operating loss, which excludes corporate expenses,\nand adjusted operating loss by business segment, which further excludes\ncertain income and expense items that management believes are not part of the\nunderlying segment\u2019s operations. Corporate expenses are expenses that relate\nto the consolidated business and not to an individual operating segment while\nthe income and expenses items include repurposing charges. Management does not\nview the income and expense items above to be part of underlying results of\nthe segment as they may be highly variable, may be infrequent, are difficult\nto predict and can distort underlying business trends and results.\n\nManagement believes that adjusted operating loss by business segment provides\nuseful insight into underlying segment trends and results and will provide a\nmore meaningful comparison of year-over-year results, going forward.\nManagement uses adjusted operating loss by business segment for planning,\nforecasting and evaluating segment performance, including allocating resources\nand evaluating results relative to employee compensation.\n\n_(In thousands of USD)_ | **Year ended December 31, 2019** \n---|--- \n| **US** | | **RoW** | | **Total Segments** | | **Corporate Expenses** | | **Total** \nReported operating loss | $ | (2,777 | ) | | $ | (106,928 | ) | | $ | (109,705 | ) | | $ | (11,779 | ) | | $ | (121,484 | ) \nAdjustments | | | | | | | | | \nRepurposing charges | \u2014 | | | 7,268 | | | 7,268 | | | \u2014 | | | 7,268 | \nAdjusted operating loss | (2,777 | ) | | (99,660 | ) | | (102,437 | ) | | (11,779 | ) | | (114,216 | ) \n \n \n\n_(In thousands of USD)_ | **Three months December 31, 2019** \n---|--- \n| **US** | | **RoW** | | **Total Segments** | | **Corporate Expenses** | | **Total** \nReported operating loss | $ | (1,797 | ) | | $ | (59,066 | ) | | $ | (60,863 | ) | | $ | (3,006 | ) | | $ | (63,869 | ) \nAdjustments | | | | | | | | | \nRepurposing charges | \u2014 | | | 7,268 | | | 7,268 | | | \u2014 | | | 7,268 | \nAdjusted operating loss | (1,797 | ) | | (51,798 | ) | | (53,595 | ) | | (3,006 | ) | | (56,601 | ) \n \n_Adjusted EBITDA_ \nAdjusted earnings before interest, tax depreciation and amortization\n(\u201cAdjusted EBITDA\u201d) is used by management as a supplemental measure to review\nand assess operating performance and trends on a comparable basis with the\nrest of the industry, although our measure of Adjusted EBITDA may not be\ndirectly comparable to similar measures used by other companies.\n\nManagement reviews EBITDA on an adjusted basis, which excludes net income\nattributable to non-controlling interests, repurposing charges and special\nitems. Special items consist of financing and transaction costs, other non-\ncash gains (losses) and other unforeseeable, non-recurring charges which\nmanagement has described below.\n\n_(In thousands of USD)_ | | **Three months December 31,** | | **Year ended December 31,** \n---|---|---|---|--- \n| | **2019** | | **2018** | | **2019** | | **2018** \nNet income (loss) | | $ | 61,569 | | | $ | (9,692 | ) | | $ | 1,165,574 | | | $ | (21,817 | ) \nAdjustments | | | | | | | | \nInterest expense (income) | | (7,514 | ) | | (177 | ) | | (27,982 | ) | | (83 | ) \nIncome tax expense (recovery) | | \u2014 | | | \u2014 | | | \u2014 | | | \u2014 | \nRepurposing charges | | 7,268 | | | \u2014 | | | 7,268 | | | \u2014 | \nFinancing and transaction costs | | 524 | | | \u2014 | | | 32,208 | | | \u2014 | \nLoss (gain) on revaluation of derivative liabilities | | (118,811 | ) | | \u2014 | | | (1,276,819 | ) | | \u2014 | \nLoss (gain) on revaluation of financial liabilities | | (50 | ) | | \u2014 | | | (197 | ) | | \u2014 | \nLoss (gain) on disposal of investments | | (34 | ) | | 240 | | | (16,277 | ) | | (164 | ) \nShare of loss (income) from equity accounted investees | | 505 | | | 758 | | | 2,009 | | | 723 | \nShare-based payments | | 3,670 | | | 2,183 | | | 11,619 | | | 8,151 | \nAdjusted EBIT | | (52,873 | ) | | (6,688 | ) | | (102,597 | ) | | (13,190 | ) \nAdjustments | | | | | | | | \nDepreciation and amortization | | 957 | | | 928 | | | 3,913 | | | 1,937 | \nAdjusted EBITDA | | (51,916 | ) | | (5,760 | ) | | (98,684 | ) | | (11,253 | ) \n \n** \n**\n\n**Special Items** \n\nManagement does not view any of the following special items to be part of the\nunderlying results as they may be highly variable, may be infrequent, may be\nunpredictable and may distort underlying business results and trends.\n\n_Peace Natural Campus repurposing charges_ \n\n * In Q4 of 2019, Cronos Group recorded pre-tax charges of $7.2 million related to the Company\u2019s decision to redesign its efforts at the Peace Naturals Campus, which includes impairment costs, inventory write-down, and employee termination benefits. \n\n_Financing and transaction costs_\n\n * In Full-Year 2019, Cronos Group recorded pre-tax charges of $32.2 million related to the Altria Investment; acquisition related costs associated with the Cronos Fermentation and Redwood transactions; and a term loan credit facility. \n * No financing and transaction costs were recorded in 2018. \n\n_Gain on revaluation of derivative liabilities_\n\n * In Q4 2019, Cronos Group recorded a pre-tax unrealized gain of $118.8 million primarily resulting from the non-cash change in the fair value of financial derivative liabilities associated with the investment by Altria Group, Inc. (\u201cAltria\u201d). \n * In Full-Year 2019, Cronos Group recorded a pre-tax unrealized gain of $1,276.8 million primarily resulting from the non-cash change in the fair value of financial derivative liabilities associated with the investment by Altria. \n\n_Gain on disposal of investments_\n\n * In Full-Year 2019, Cronos Group recorded a pre-tax gain of $21.5 million primarily related to the disposal of shares in Whistler Marijuana Company (\u201cWhistler\u201d) to Aurora Cannabis Inc. (\u201cAurora\u201d) in connection with Aurora\u2019s acquisition of Whistler. \n * In Full-Year 2018, Cronos Group recorded a pre-tax gain of $0.2 million related to the disposal of its investment in AB Cann Global Corporation. \n\n**Foreign currency exchange rates**\n\nAll currency amounts in this Press Release are stated in U.S. dollars (\u201cUSD\u201d),\nwhich is our reporting currency, unless otherwise noted. All references to\n\u201cdollars\u201d or \u201c$\u201d are to USD. The assets and liabilities of the Company's\nforeign operations are translated into USD at the exchange rate in effect as\nof December 31, 2019 and December 31, 2018. Transactions affecting\nshareholders' equity are translated at historical foreign exchange rates. The\nconsolidated statements of net income (loss) and comprehensive income (loss)\nand the consolidated statements of cash flows of the Company's foreign\noperations are translated into USD by applying the average foreign exchange\nrate in effect for the reporting period.\n\nThe exchange rates used to translate from USD to Canadian dollars (\u201cC$\u201d) is\nshown below:\n\n_(Exchange rates are shown as C$ per $)_ | **As at December 31,** \n---|--- \n| **2019** | | **2018** | | **2017** \nAverage rate | 1.3268 | | | 1.2955 | | | 1.2969 | \nSpot rate | 1.2990 | | | 1.3639 | | | 1.2571 | \n \n**For further information, please contact:** \nAnna Shlimak \nInvestor Relations \nTel: (416) 504-0004 \n_[ investor.relations@thecronosgroup.com\n](mailto:investor.relations@thecronosgroup.com\n\"investor.relations@thecronosgroup.com\") _\n\n \n\n## Recommended Reading\n\n * April 24, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Group Inc. to Hold 2025 First Quarter Earnings Conference Call on May\n8, 2025 ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\nTORONTO, April 24, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) will hold its 2025 first quarter\nearnings conference call on Thursday, May 8,...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/24/3067344/0/en/Cronos-Group-Inc-to-Hold-2025-First-Quarter-\nEarnings-Conference-Call-on-May-8-2025.html)\n\n * April 22, 2025 08:00 ET | Source: [ Cronos Group Inc. ](/en/search/organization/Cronos%2520Group%2520Inc\u00a7)\n\n[ Cronos Unveils New Spinach\u00ae 1.2g Vapes and SOURZ by Spinach\u00ae Gummies\nEnhanced with Rare Cannabinoids ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\nTORONTO, April 22, 2025 (GLOBE NEWSWIRE) -- Cronos Group Inc.\u2019s (NASDAQ: CRON)\n(TSX: CRON) (\u201cCronos\u201d or the \u201cCompany\u201d) best-selling cannabis brand, Spinach\u00ae,\nis thrilled to introduce three all-new...\n\n[ Read More ](https://www.globenewswire.com/news-\nrelease/2025/04/22/3065428/0/en/Cronos-Unveils-New-Spinach-1-2g-Vapes-and-\nSOURZ-by-Spinach-Gummies-Enhanced-with-Rare-Cannabinoids.html)\n\n",
"url": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
"reason": "This is a press release from GlobeNewswire regarding Cronos Group's financial results. It is a reliable source for factual information about the company's performance.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Press release regarding Cronos Group's financial results.",
"url": "https://www.globenewswire.com/news-release/2020/03/30/2008663/0/en/Cronos-Group-Reports-2019-Fourth-Quarter-and-Full-Year-Results.html"
},
{
"content": {
"metadata": {
"ext_id": "1d301090-4510-48b4-9a22-629fcf0910df",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918000939/a2234513zex-99_1.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501355.d64ccd9\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918000939/a2234513zex-99_1.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by Cronos Group. SEC filings are considered highly reliable sources of information about publicly traded companies.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "SEC filing by Cronos Group.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918000939/a2234513zex-99_1.htm"
},
{
"content": {
"metadata": {
"ext_id": "83ca4f77-6d79-4486-be80-04543f7d00f7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
"page_content": "[ ](https://fluence-led.com/resources/maximizing-cannabis-yields-with-\nintercanopy-and-subcanopy-lighting-my-\nperspective/?utm_source=CBT&utm_medium=display&utm_campaign=970x250&utm_content=ICLBlog_Hawley)\n\n# Cronos Group Founder Mike Gorenstein Returns as CEO\n\nThe executive shuffle comes as Kurt Schmidt, former president and CEO,\nretires.\n\n* * *\n\n[ ](/authors/contact/15684934/posted-by-tony-lange)\n\n[ Tony Lange ](/authors/contact/15684934/posted-by-tony-lange)\n\nMarch 21, 2022\n\n**TORONTO, March 21, 2022 \u2013 PRESS RELEASE \u2013** Cronos Group Inc., an innovative\nglobal cannabinoid company, announced that its board of directors has\nappointed Mike Gorenstein as chairman, president, and CEO, effective March 21,\n2022, in connection with Kurt Schmidt\u2019s retirement.\n\n\u201cMike is a visionary leader who knows Cronos better than anyone,\u201d said Jim\nRudyk, lead independent director of Cronos. \u201cHe is uniquely positioned to\noversee the implementation of our strategic and operational realignment\ninitiatives as we create a highly differentiated branded cannabinoid platform\nto drive long-term success. A key element of our plan is being ready for entry\ninto the U.S. cannabis market once federally permitted\u2014with Mike leading that\ncharge every step of the way.\u201d\n\n[ ](https://hubs.ly/Q03dknmq0)\n\nRudyk added, \u201cOn behalf of the board of directors, I would like to thank Kurt\nfor his stewardship through the challenges of the pandemic and broader\nindustry headwinds. We are grateful for his contributions to Cronos and wish\nhim all the best in his retirement.\u201d\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\nGorenstein previously served as chairman, president and CEO of Cronos until\nSeptember 2020, when he transitioned to the executive chairman role. In\naddition, he is a co-founder and passive member of Gotham Green Partners.\n\n\u201cI am excited to return as CEO and accelerate progress by leveraging the\ninnovative and daring approach that Cronos was built on,\u201d Gorenstein said. \u201cWe\npositioned Cronos to have the best tools to succeed in this market with our\nevolving asset-light supply chain, an organically growing brand in Canada,\ndifferentiated IP with a focus on rare cannabinoids, and one of the strongest\nbalance sheets in the industry. Now it is time to use those tools to deliver\nmeaningful shareholder value.\u201d\n\nGorenstein\u2019s immediate areas of focus include:\n\n * Delivering margin accretive growth focusing on adult-use product formats; \n * Continuing to drive rare cannabinoid development and commercialization strategy; \n * Cutting costs and focusing investments to the highest ROI opportunities, specifically \u201cborderless\u201d investments that can create incremental revenue as new markets come online; \n * Leading a successful transition from Peace Naturals Campus to a more agile supply chain; and \n * Positioning Cronos to win in the U.S. cannabis market. \n\n[ ](https://hubs.ly/Q03dknmq0)\n\n[ ](https://hubs.ly/Q03dknmq0)\n\nRecommended\n\n[ ](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-\nsplit)\n\n##### [ Tilray Brands Announces Proposed Reverse Stock Split\n](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-split)\n\n[ ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n##### [ Tilray Brands Reports Quarterly Financial Results, Confirms No Tariff\nImpacts ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-\nresults-confirms-no-tariff-impacts)\n\n[ ](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n##### [ SNDL Reports Q4 and Full Year 2024 Financial and Operational Results\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ ](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n##### [ Ascend Wellness Reports $562 Million in 2024 Revenue\n](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\nRelated Stories\n\n[ ](/business-issues-benchmarks/finance/news/15692029/terrascend-exec-we-want-\nto-add-one-to-two-additional-states-over-the-next-six-to-12-months)\n\n##### [ TerrAscend Exec: \u2018We Want to Add One to Two Additional States Over\nthe Next Six to 12 Months\u2019 ](/business-issues-\nbenchmarks/finance/news/15692029/terrascend-exec-we-want-to-add-one-to-two-\nadditional-states-over-the-next-six-to-12-months)\n\n[ ](/business-issues-benchmarks/finance/news/15692011/alberta-officially-\nlaunches-online-cannabis-sales-delivery-in-private-sector)\n\n##### [ Alberta Officially Launches Online Cannabis Sales, Delivery in\nPrivate Sector ](/business-issues-benchmarks/finance/news/15692011/alberta-\nofficially-launches-online-cannabis-sales-delivery-in-private-sector)\n\n[ ](/business-issues-benchmarks/finance/news/15692435/biden-anti-cannabis-\nstock-policy-revealed-in-new-uncovering)\n\n##### [ Biden Anti-Cannabis Stock Policy Revealed in New Uncovering\n](/business-issues-benchmarks/finance/news/15692435/biden-anti-cannabis-stock-\npolicy-revealed-in-new-uncovering)\n\n[ ](/business-issues-benchmarks/finance/news/15692458/cannabis-conference-\nannounces-2022-education-program)\n\n##### [ Cannabis Conference Announces 2022 Education Program ](/business-\nissues-benchmarks/finance/news/15692458/cannabis-conference-\nannounces-2022-education-program)\n\nMore in Finance\n\n##### [ Tilray Brands Announces Proposed Reverse Stock Split\n](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-split)\n\n[ The global cannabis company also announced a corresponding special\nstockholders meeting. ](/finance/news/15743199/tilray-brands-announces-\nproposed-reverse-stock-split)\n\n[ ](/finance/news/15743199/tilray-brands-announces-proposed-reverse-stock-\nsplit)\n\n##### [ Tilray Brands Reports Quarterly Financial Results, Confirms No Tariff\nImpacts ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-\nresults-confirms-no-tariff-impacts)\n\n[ The global cannabis company generated a net revenue of $186 million in the\nthird fiscal quarter, verifying it has no current impacts from U.S. tariffs.\n](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n[ ](/finance/news/15742301/tilray-brands-reports-quarterly-financial-results-\nconfirms-no-tariff-impacts)\n\n##### [ SNDL Reports Q4 and Full Year 2024 Financial and Operational Results\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ The company reported record full-year net revenue, gross profit and gross\nmargin, as well as positive cash flow and free cash flow.\n](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n[ ](/finance/news/15740168/sndl-reports-q4-and-full-year-2024-financial-and-\noperational-results)\n\n##### [ Ascend Wellness Reports $562 Million in 2024 Revenue\n](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n[ The cannabis company also reported its second full year of positive cash\nfrom operations and positive free cash flow. ](/finance/news/15739806/ascend-\nwellness-reports-562m-revenue-in-cannabis-market)\n\n[ ](/finance/news/15739806/ascend-wellness-reports-562m-revenue-in-cannabis-\nmarket)\n\n##### [ The Cannabist Co. Reports $459 Million in 2024 Revenue\n](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n[ The cannabis company continues to complete divestitures, reduce operating\nand overhead costs, and refine its inventory assortment.\n](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n[ ](/finance/news/15739798/cannabist-co-reports-459m-revenue-in-2024-earnings)\n\n##### [ Green Thumb Industries Announces $50 Million Share Repurchase Program\n](/business-issues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ The program authorizes the cannabis company to repurchase up to nearly 10.6\nmillion subordinate voting shares during the next 12 months. ](/business-\nissues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ ](/business-issues-benchmarks/finance/news/15686434/green-thumb-industries-\nannounces-50-million-share-repurchase-program)\n\n[ ](https://www.cannabisbusinesstimes.com/page/subscribe)\n\n##### [ Green Thumb Industries Refinances Senior Debt, Closing on $150\nMillion Syndicated Credit Facility ](/business-issues-\nbenchmarks/finance/news/15686440/green-thumb-industries-refinances-senior-\ndebt-closing-on-150-million-syndicated-credit-facility)\n\n[ The cannabis company intends to use the proceeds along with existing cash to\nretire its $225 million senior secured debt. ](/business-issues-\nbenchmarks/finance/news/15686440/green-thumb-industries-refinances-senior-\ndebt-closing-on-150-million-syndicated-credit-facility)\n\n[ ](/business-issues-benchmarks/finance/news/15686440/green-thumb-industries-\nrefinances-senior-debt-closing-on-150-million-syndicated-credit-facility)\n\n##### [ Ascend Wellness Holdings Removes CEO, Terminates CFO ](/business-\nissues-benchmarks/finance/news/15686476/ascend-wellness-holdings-removes-ceo-\nterminates-cfo)\n\n[ The cannabis company appointed board Director Samuel Brill to replace John\nHartman as CEO. The company also appointed a new president and CFO.\n](/business-issues-benchmarks/finance/news/15686476/ascend-wellness-holdings-\nremoves-ceo-terminates-cfo)\n\n[ ](/business-issues-benchmarks/finance/news/15686476/ascend-wellness-\nholdings-removes-ceo-terminates-cfo)\n\n##### [ TerrAscend Offers $10 Million Share Repurchase Program ](/business-\nissues-benchmarks/finance/news/15686491/terrascend-offers-10-million-share-\nrepurchase-program)\n\n[ The company is authorized to repurchase up to 10 million shares but is not\nobligated to purchase any shares during the 12-month stock buyback program.\n](/business-issues-benchmarks/finance/news/15686491/terrascend-\noffers-10-million-share-repurchase-program)\n\n[ ](/business-issues-benchmarks/finance/news/15686491/terrascend-\noffers-10-million-share-repurchase-program)\n\n##### [ Curaleaf Reports $342 Million in Q2 Revenue ](/business-issues-\nbenchmarks/finance/news/15686512/curaleaf-reports-342-million-in-q2-revenue)\n\n[ The global cannabis company now operates in 15 countries. ](/business-\nissues-benchmarks/finance/news/15686512/curaleaf-reports-342-million-\nin-q2-revenue)\n\n[ ](/business-issues-benchmarks/finance/news/15686512/curaleaf-\nreports-342-million-in-q2-revenue)\n\n##### [ The Cannabist Co. Reports Second Quarter 2024 Financial Results\n](/business-issues-benchmarks/finance/news/15686514/the-cannabist-co-reports-\nsecond-quarter-2024-financial-results)\n\n[ The company reported $125 million in revenue for the period. ](/business-\nissues-benchmarks/finance/news/15686514/the-cannabist-co-reports-second-\nquarter-2024-financial-results)\n\n[ ](/business-issues-benchmarks/finance/news/15686514/the-cannabist-co-\nreports-second-quarter-2024-financial-results)\n\n##### [ Cresco Labs Determines IRS Section 280E Not Applicable to its\nBusiness ](/business-issues-benchmarks/finance/news/15686515/cresco-labs-\ndetermines-irs-section-280e-not-applicable-to-its-business)\n\n[ The company reported an improvement of more than 800 basis points year-over-\nyear in its adjusted EBITDA margin for the second quarter of 2024.\n](/business-issues-benchmarks/finance/news/15686515/cresco-labs-determines-\nirs-section-280e-not-applicable-to-its-business)\n\n[ ](/business-issues-benchmarks/finance/news/15686515/cresco-labs-determines-\nirs-section-280e-not-applicable-to-its-business)\n\n[ ](https://hubs.ly/Q03dknmq0)\n\nPage 1 of 183\n\n[ Next Page ](/business-issues-benchmarks/finance?page=2)\n\n[ ](/)\n\nFollow Cannabis Business Times\n\n[ ](https://www.facebook.com/canbusinesstimes \"Visit us on Facebook\") [\n](https://www.linkedin.com/company/cannabis-business-times \"Visit us on\nLinkedin\") [ ](https://twitter.com/CBTmag \"Visit us on Twitter\")\n\n[ \u00a9 2025 Transpire Media. All rights reserved.\n](https://www.transpiremedia.net)\n\n[ ](https://marketing.greentanktech.com/l/864572/2025-03-26/c6dqlf)\n\n",
"url": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
"reason": "This article from Cannabis Business Times reports on the return of Mike Gorenstein as CEO of Cronos Group. Cannabis Business Times is a reputable industry publication, making this a reliable source for this information.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Article from Cannabis Business Times about Mike Gorenstein returning as CEO of Cronos Group.",
"url": "https://www.cannabisbusinesstimes.com/business-issues-benchmarks/finance/news/15691905/cronos-group-founder-mike-gorenstein-returns-as-ceo"
},
{
"content": {
"metadata": {
"ext_id": "a779c5ae-2a01-4a7b-a456-a2dc29c3360d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://ca.indeed.com/cmp/Cronos-Group"
},
"page_content": "# Additional Verification Required\n\nEnable JavaScript and cookies to continue\n\nYour Ray ID for this request is 9355f2d169caebb1\n\n[ Troubleshooting Cloudflare Errors ](https://support.indeed.com/hc/en-\nus/articles/33465379855501-Troubleshooting-Cloudflare-Errors)\n\nNeed more help? [ Contact us ](https://www.indeed.com/support/contact)\n\n",
"url": "https://ca.indeed.com/cmp/Cronos-Group"
},
"reason": "This is the company profile for Cronos Group on Indeed. It provides general information about the company, job listings, and employee reviews. While the employee reviews may be subjective, the profile itself is a reliable source of basic information.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Company profile for Cronos Group on Indeed.",
"url": "https://ca.indeed.com/cmp/Cronos-Group"
},
{
"content": {
"metadata": {
"ext_id": "66a007b4-ae8c-4a0c-b733-563529fc3860",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://ca.indeed.com/cmp/Cronos-Group/reviews"
},
"page_content": "# Additional Verification Required\n\nEnable JavaScript and cookies to continue\n\nYour Ray ID for this request is 9355f2d1adef6cbe\n\n[ Troubleshooting Cloudflare Errors ](https://support.indeed.com/hc/en-\nus/articles/33465379855501-Troubleshooting-Cloudflare-Errors)\n\nNeed more help? [ Contact us ](https://www.indeed.com/support/contact)\n\n",
"url": "https://ca.indeed.com/cmp/Cronos-Group/reviews"
},
"reason": "This page contains employee reviews of Cronos Group on Indeed. While individual reviews may be biased or subjective, the aggregate of reviews can provide insights into the company's work environment and employee well-being. However, it should be interpreted with caution.",
"reliability_score": 0.6,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Employee reviews of Cronos Group on Indeed.",
"url": "https://ca.indeed.com/cmp/Cronos-Group/reviews"
},
{
"content": {
"metadata": {
"ext_id": "745f687f-299e-4ff0-8edc-7c2e00487327",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://futurefitbusiness.org/development-council/cronos-divirsiti/"
},
"page_content": "[ ](https://futurefitbusiness.org/development-council/)\n\n**Location:** Kontich (BE), Antwerpen (BE), Hasselt (BE) **Contact:** [ Email\n](mailto:purpose@divirsiti.be) [ +32 478 22 53 23 ](tel:+32 478 22 53 23)\n\n###### Benchmark User\n\n# Divirsiti\n\n[ ](https://www.linkedin.com/company/divirsiti) [ Visit website\n](https://divirsiti.be/)\n\nWe aspire to become a Future-Fit Business because we believe that our long-\nterm success is tied to the value we provide to society. That means we must\neliminate all of the potential negative impacts associated with what we buy,\nwhat we sell, and what we do.\n\nHuman capital is our most important resource. Therefore, we will take care of\nour employees, service providers and partners in terms of physical and mental\nhealth, give them maximum opportunities and encourage their personal\ndevelopment and lifelong learning. We will invest and take initiative in\ninclusion and diversity and leave no one behind. We will also monitor and, if\nnecessary, improve the respect for human rights in our upstream value chain.\n\nOur business operations are primarily focused on services. Therefore, our\ncompanies have a limited impact on the environment compared to manufacturing\ncompanies. Nevertheless, we will investigate the negative impact our business\nprocesses have on the environment, directly and indirectly, and how we can\ncontribute to less waste and more circularity. Reducing carbon emissions in\nour value chain is also an important challenge.\n\nFor challenges we have no direct impact on, we want to share our mission of\nbecoming Future-Fit with those involved. In this way, we can also inspire and\ninfluence other companies to move towards future-fitness.\n\nIn addition, we will seek to create positive impact wherever we can, to speed\nup society\u2019s transition to future-fitness through our own actions and by\nassisting others on the journey.\n\nOur service activities support the digitisation and innovation processes of\nour customers. In this way, we can contribute to the transition to a service\neconomy and strengthen the efficient use of raw materials in a circular\neconomy.\n\nWe also support specific projects that stimulate sustainable progress,\nseparate from our business operations and value chain. In doing so, we also\ntry to support people with passion to realise their ambitions.\n\n## Be part of the global movement responding to today\u2019s biggest challenges.\n\n * [ About the Benchmark ](https://futurefitbusiness.org/benchmark/)\n * [ Explore the Benchmark ](https://futurefitbusiness.org/explore-the-benchmark-and-key-concepts/)\n * [ Watch the Crash Course ](https://futurefitbusiness.org/watch-the-crash-course/)\n * [ Future-Fit & the SDGs ](https://futurefitbusiness.org/sdgs/)\n\n * [ Community ](https://futurefitbusiness.org/changemaker-community/)\n * [ Downloads ](https://futurefitbusiness.org/downloads-resources-future-fit-business/)\n * [ About Us ](https://futurefitbusiness.org/about-us/)\n * [ News ](https://futurefitbusiness.org/future-fit-news/)\n\n### Join us\n\nTo learn more about the work of [ Future-Fit\n](https://futurefitbusiness.org/the-foundation/) and our growing [ Changemaker\nCommunity ](https://futurefitbusiness.org/changemaker-community/) , [ contact\nus ](https://futurefitbusiness.org/contact/) .\n\n[ ](https://nimbushosting.co.uk/ \"Nimbus - 100% Green Web Hosting\")\n\n * [ ](https://www.linkedin.com/company/future-fit/ \"https://www.linkedin.com/company/future-fit/\")\n * [ ](https://vimeo.com/futurefitbiz \"https://vimeo.com/futurefitbiz\")\n\n\u00a9 2025 Future-Fit Foundation | All Rights Reserved. [ Privacy Policy ](https://futurefitbusiness.org/privacy-policy/) | This website is [ Made for the World ](https://madefortheworld.studio) . \n\nBack to top\n\n",
"url": "https://futurefitbusiness.org/development-council/cronos-divirsiti/"
},
"reason": "This page mentions The Cronos Group as part of the Future-Fit Business Benchmark Development Council. While it provides context on the company's involvement in sustainability initiatives, it lacks in-depth analysis of their supply chain or human rights practices. The source itself seems credible, but the information is limited.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "The Cronos Group is listed as part of the Future-Fit Business Benchmark Development Council.",
"url": "https://futurefitbusiness.org/development-council/cronos-divirsiti/"
},
{
"content": {
"metadata": {
"ext_id": "5b555e56-b688-4bf0-b520-dd8b9a422ab7",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501356.d64d29e\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by The Cronos Group. SEC filings are considered highly reliable sources of information about publicly traded companies, as they are legally mandated and subject to scrutiny.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "This is a legal filing by The Cronos Group with the SEC.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000104746918001967/a2234990zf-10.htm"
},
{
"content": {
"metadata": {
"ext_id": "c90c9357-d1cf-4daf-92c8-29db217515c4",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
"page_content": "U.S. Securities and Exchange Commission\n\n# Your Request Originates from an Undeclared Automated Tool\n\nTo allow for equitable access to all users, SEC reserves the right to limit\nrequests originating from undeclared automated tools. Your request has been\nidentified as part of a network of automated tools outside of the acceptable\npolicy and will be managed until action is taken to declare your traffic.\n\nPlease declare your traffic by updating your user agent to include company\nspecific information.\n\nFor best practices on efficiently downloading information from SEC.gov,\nincluding the latest EDGAR filings, visit [ sec.gov/developer\n](https://www.sec.gov/developer) . You can also [ sign up for email updates\n](https://public.govdelivery.com/accounts/USSEC/subscriber/new?topic_id=USSEC_260)\non the SEC open data program, including best practices that make it more\nefficient to download data, and SEC.gov enhancements that may impact scripted\ndownloading processes. For more information, contact [ opendata@sec.gov\n](mailto:opendata@sec.gov) .\n\nFor more information, please see the SEC\u00e2\u0080\u0099s Web Site Privacy and Security\nPolicy . Thank you for your interest in the U.S. Securities and Exchange\nCommission.\n\nReference ID: 0.a6231502.1745501356.d64d2e5\n\n## More Information\n\n### Internet Security Policy\n\nBy using this site, you are agreeing to security monitoring and auditing. For\nsecurity purposes, and to ensure that the public service remains available to\nusers, this government computer system employs programs to monitor network\ntraffic to identify unauthorized attempts to upload or change information or\nto otherwise cause damage, including attempts to deny service to users.\n\nUnauthorized attempts to upload information and/or change information on any\nportion of this site are strictly prohibited and are subject to prosecution\nunder the Computer Fraud and Abuse Act of 1986 and the National Information\nInfrastructure Protection Act of 1996 (see Title 18 U.S.C. \u00c2\u00a7\u00c2\u00a7 1001 and\n1030).\n\nTo ensure our website performs well for all users, the SEC monitors the\nfrequency of requests for SEC.gov content to ensure automated searches do not\nimpact the ability of others to access SEC.gov content. We reserve the right\nto block IP addresses that submit excessive requests. Current guidelines limit\nusers to a total of no more than 10 requests per second, regardless of the\nnumber of machines used to submit requests.\n\nIf a user or application submits more than 10 requests per second, further\nrequests from the IP address(es) may be limited for a brief period. Once the\nrate of requests has dropped below the threshold for 10 minutes, the user may\nresume accessing content on SEC.gov. This SEC practice is designed to limit\nexcessive automated searches on SEC.gov and is not intended or expected to\nimpact individuals browsing the SEC.gov website.\n\nNote that this policy may change as the SEC manages SEC.gov to ensure that the\nwebsite performs efficiently and remains available to all users.\n\n \n\n**Note:** We do not offer technical support for developing or debugging\nscripted downloading processes.\n\n",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
"reason": "This is a filing with the U.S. Securities and Exchange Commission (SEC) by The Cronos Group. SEC filings are considered highly reliable sources of information about publicly traded companies, as they are legally mandated and subject to scrutiny.",
"reliability_score": 0.9,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "This is a legal filing by The Cronos Group with the SEC.",
"url": "https://www.sec.gov/Archives/edgar/data/1656472/000165647220000011/cronosdraftfy20193220filin.htm"
},
{
"content": {
"metadata": {
"ext_id": "94dfbae9-acaf-4ee7-8d30-57ee77e9a1d2",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://mjbizdaily.com/cannabis-producer-cronos-group-ends-year-with-168-7-million-loss/"
},
"page_content": "Enable JavaScript and cookies to continue\n\n",
"url": "https://mjbizdaily.com/cannabis-producer-cronos-group-ends-year-with-168-7-million-loss/"
},
"reason": "This article from MJBizDaily explicitly mentions The Cronos Group and reports on their financial performance. MJBizDaily is a reputable source for cannabis industry news, providing factual reporting, although with a potential industry-specific bias.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "MJBizDaily reports on The Cronos Group's financial losses.",
"url": "https://mjbizdaily.com/cannabis-producer-cronos-group-ends-year-with-168-7-million-loss/"
},
{
"content": {
"metadata": {
"ext_id": "53d20e82-34a7-4497-a72e-e527acc82aa0",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
"page_content": "Menu\n\n[ ](/)\n\n[ Login ](https://app.aikido.dev/login) [ Start Free\n](https://app.aikido.dev/login)\n\n[ Blog ](/blog)\n\n/\n\nCronos Group chooses Aikido Security to strengthen security posture for its\ncompanies and customers\n\n# Cronos Group chooses Aikido Security to strengthen security posture for its\ncompanies and customers\n\nBy\n\nRoeland Delrue\n\n4 min read\n\nNews\n\nAn IT match made in\u00e2\u0080\u00a6 Belgium! Aikido Security, a SaaS startup from Ghent,\nwill provide application security to The Cronos Group, an e-business\nintegrator headquartered in Kontich, with over 5,000 clients across their 570+\ncompanies in the Benelux region. This strategic partnership is set to fortify\nThe Cronos Group\u00e2\u0080\u0099s security posture and Aikido Security\u00e2\u0080\u0099s influence in the\ncybersecurity industry.\n\nCronos Group and Aikido Security partnership\n\n## Stronger security posture with Aikido\n\nThe Cronos Group is now a new Aikido client. In this context, The Cronos Group\nis in the process of implementing Aikido\u00e2\u0080\u0099s security solutions across many of\nits software development companies. Why is this useful for The Cronos Group?\nNot only does it help establish a stronger security posture for each company\nin its network, but it also creates another great advantage. Aikido pulls it\nall together for Cronos, which will gain a more insightful and standardized\nglobal overview of the security posture of these companies than ever before.\n\nBeyond that, Aikido entrusts The Cronos Group to become a true partner as\nwell. In this context, Cronos will be able to provide Aikido to its customers\nso they, too, have the opportunity to benefit from Aikido\u00e2\u0080\u0099s services. On top\nof that, Cronos and Aikido actively work together to further improve the\nproduct features.\n\nAikido\u00e2\u0080\u0099s unique set of security tools and ability to reduce false positives\nwill deliver efficiency to the development teams in The Cronos Group\u00e2\u0080\u0099s\nnetwork of companies and customers. This means less disruption from\nunnecessary alerts leading to more focus on writing code. The Cronos Group\naims to help companies find creative, high-quality, and profitable ways to\nmake the most of potential new technologies. Therefore, this partnership\naligns perfectly with its mission.\n\nAikido pulls it all together in a dedicated \u00e2\u0080\u009cSecurity Partner Portal\u00e2\u0080\u009d.\nThrough this partner portal, The Cronos Group is able to gain a more\ninsightful and standardized global overview of the security posture of their\ncompanies than ever before.\n\nAn example product visual of Aikido\u00e2\u0080\u0099s Partner Portal\n\n## The Cronos Group and Aikido comment on their partnership\n\nThe Cronos Group can\u00e2\u0080\u0099t wait to get started with Aikido.\n\n> The Cronos Group has always been supporting innovation and entrepreneurship,\n> including cyber security. We\u00e2\u0080\u0099re always on the lookout for partners to\n> strengthen our alliances. Through Aikido, we want to enable our developers\n> and clients to build in security from the first line of code. By combining\n> automation with intelligence, they can focus on the business value while\n> safeguarding their own scarce time and keeping the exposure to a minimum. \n> Jonas Buyle, Cronos Security\n\nMeanwhile, what benefits does this new partnership bring to Aikido? \"We're\nthrilled to welcome The Cronos Group to the Aikido Security family,\u00e2\u0080\u009d\nexplains Aikido cofounder and CEO, Willem Delbare. \u00e2\u0080\u009cAs both a customer and a\nreseller, The Cronos Group represents a key partnership in our mission to make\nmanaging your security posture simple. Our collaboration promises to provide\nunparalleled insights into the security posture of the portfolio of companies\nwithin The Cronos Group. Together, we aspire to elevate the standards of\napplication security across the board.\"\n\n## About Aikido Security\n\n[ Aikido Security ](https://www.aikido.dev/) is a developer-first software\nsecurity platform. We scan your source code & cloud to show you which\nvulnerabilities are actually important to solve. Triaging is sped up by\nmassively reducing false positives and making CVEs human-readable. Aikido\nmakes it simple to strengthen your security posture to keep your product\nsecure. And, it gives you back time to do what you do best: writing code.\n\n## About The Cronos Group\n\n[ The Cronos Group ](https://cronos-groep.be/en/) is an e-business integrator\ndelivering high-quality ICT solutions to enterprises and government entities\nin the Benelux region. The Cronos Group was founded by and for ICT\ntechnologists with the goal of helping them grow their careers and\nentrepreneurship. This mission expanded to include creative professionals in\norder to jointly design and implement creative and technologically leading\nsolutions for its customers. Since its inception in 1991, The Cronos Group\nexpanded from a one-person operation to a group of companies employing over\n9000 professionals across 570+ companies. \n\nWritten by Roeland Delrue\n\n[ ](https://www.linkedin.com/in/roelanddelrue/)\n\nCo-founder / COO & CRO\n\nShare:\n\nhttps://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture\n\nTable of contents:\n\nText Link\n\nShare:\n\nUse keyboard\n\nto navigate through articles\n\n[ ](/blog/xrp-supplychain-attack-official-npm-package-infected-with-crypto-\nstealing-backdoor)\n\nBy\n\nCharlie Eriksen\n\n## [ XRP supply chain attack: Official NPM package infected with crypto\nstealing backdoor ](/blog/xrp-supplychain-attack-official-npm-package-\ninfected-with-crypto-stealing-backdoor)\n\nApril 22, 2025\n\n[ Read more ](/blog/xrp-supplychain-attack-official-npm-package-infected-\nwith-crypto-stealing-backdoor)\n\n[ ](/blog/the-malware-dating-guide-understanding-the-types-of-malware-on-npm)\n\nBy\n\nCharlie Eriksen\n\n## [ The malware dating guide: Understanding the types of malware on NPM\n](/blog/the-malware-dating-guide-understanding-the-types-of-malware-on-npm)\n\nMalware\n\nApril 10, 2025\n\n[ Read more ](/blog/the-malware-dating-guide-understanding-the-types-of-\nmalware-on-npm)\n\n[ ](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\nBy\n\nCharlie Eriksen\n\n## [ Hide and Fail: Obfuscated Malware, Empty Payloads, and npm Shenanigans\n](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\nMalware\n\nApril 3, 2025\n\n[ Read more ](/blog/hide-and-fail-obfuscated-malware-and-npm-shenanigan)\n\n[ ](/blog/launching-aikido-malware---open-source-threat-feed)\n\nBy\n\nMadeline Lawrence\n\n## [ Launching Aikido Malware \u00e2\u0080\u0093 Open Source Threat Feed ](/blog/launching-\naikido-malware---open-source-threat-feed)\n\nNews\n\nMarch 31, 2025\n\n[ Read more ](/blog/launching-aikido-malware---open-source-threat-feed)\n\n[ ](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-hackers)\n\nBy\n\nCharlie Eriksen\n\n## [ Malware hiding in plain sight: Spying on North Korean Hackers\n](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-hackers)\n\nMarch 31, 2025\n\n[ Read more ](/blog/malware-hiding-in-plain-sight-spying-on-north-korean-\nhackers)\n\n[ ](/blog/get-the-tl-dr-tj-actions-changed-files-supply-chain-attack)\n\nBy\n\nMadeline Lawrence\n\n## [ Get the TL;DR: tj-actions/changed-files Supply Chain Attack ](/blog/get-\nthe-tl-dr-tj-actions-changed-files-supply-chain-attack)\n\nNews\n\nMarch 16, 2025\n\n[ Read more ](/blog/get-the-tl-dr-tj-actions-changed-files-supply-chain-\nattack)\n\n[ ](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-minded-\ndeveloper)\n\nBy\n\nMackenzie Jackson\n\n## [ A no-BS Docker security checklist for the vulnerability-minded developer\n](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-minded-\ndeveloper)\n\nGuides\n\nMarch 6, 2025\n\n[ Read more ](/blog/a-no-bs-docker-security-checklist-for-the-vulnerability-\nminded-developer)\n\n[ ](/blog/sensing-and-blocking-javascript-sql-injection-attacks-aikido-\nfirewall)\n\nBy\n\nMackenzie Jackson\n\n## [ Sensing and blocking JavaScript SQL injection attacks ](/blog/sensing-\nand-blocking-javascript-sql-injection-attacks-aikido-firewall)\n\nGuides\n\nMarch 4, 2025\n\n[ Read more ](/blog/sensing-and-blocking-javascript-sql-injection-attacks-\naikido-firewall)\n\n[ ](/blog/prisma-and-postgresql-vulnerable-to-nosql-injection)\n\nBy\n\nFloris Van den Abeele\n\n## [ Prisma and PostgreSQL vulnerable to NoSQL injection? A surprising\nsecurity risk explained ](/blog/prisma-and-postgresql-vulnerable-to-nosql-\ninjection)\n\nEngineering\n\nFebruary 14, 2025\n\n[ Read more ](/blog/prisma-and-postgresql-vulnerable-to-nosql-injection)\n\n[ ](/blog/launching-opengrep-why-we-forked-semgrep)\n\nBy\n\nWillem Delbare\n\n## [ Launching Opengrep | Why we forked Semgrep ](/blog/launching-opengrep-why-we-forked-semgrep)\n\nNews\n\nJanuary 24, 2025\n\n[ Read more ](/blog/launching-opengrep-why-we-forked-semgrep)\n\n[ ](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nBy\n\nThomas Segura\n\n## [ Your Client Requires NIS2 Vulnerability Patching. Now What?\n](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nJanuary 14, 2025\n\n[ Read more ](/blog/your-client-requires-nis2-vulnerability-patching-now-\nwhat)\n\n[ ](/blog/top-10-ai-powered-sast-tools-in-2025)\n\nBy\n\nMackenzie Jackson\n\n## [ Top 10 AI-powered SAST tools in 2025 ](/blog/top-10-ai-powered-sast-\ntools-in-2025)\n\nGuides\n\nJanuary 10, 2025\n\n[ Read more ](/blog/top-10-ai-powered-sast-tools-in-2025)\n\n[ ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\nBy\n\nMadeline Lawrence\n\n## [ Snyk vs Aikido Security | G2 Reviews Snyk Alternative ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\nGuides\n\nJanuary 10, 2025\n\n[ Read more ](/blog/snyk-vs-aikido-security-g2-reviews-snyk-alternative)\n\n[ ](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\nBy\n\nMackenzie Jackson\n\n## [ Top 10 Software Composition Analysis (SCA) tools in 2025\n](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\nGuides\n\nJanuary 9, 2025\n\n[ Read more ](/blog/top-10-software-composition-analysis-sca-tools-in-2025)\n\n[ ](/blog/3-key-steps-to-strengthen-compliance-and-risk-management)\n\nBy\n\nMichiel Denis\n\n## [ 3 Key Steps to Strengthen Compliance and Risk Management ](/blog/3-key-\nsteps-to-strengthen-compliance-and-risk-management)\n\nDecember 27, 2024\n\n[ Read more ](/blog/3-key-steps-to-strengthen-compliance-and-risk-management)\n\n[ ](/blog/the-start-ups-open-source-guide-to-application-security)\n\nBy\n\nMackenzie Jackson\n\n## [ The Startup's Open-Source Guide to Application Security ](/blog/the-\nstart-ups-open-source-guide-to-application-security)\n\nGuides\n\nDecember 23, 2024\n\n[ Read more ](/blog/the-start-ups-open-source-guide-to-application-security)\n\n[ ](/blog/launching-aikido-for-cursor-ai)\n\nBy\n\nMadeline Lawrence\n\n## [ Launching Aikido for Cursor AI ](/blog/launching-aikido-for-cursor-ai)\n\nEngineering\n\nDecember 13, 2024\n\n[ Read more ](/blog/launching-aikido-for-cursor-ai)\n\n[ ](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-llms)\n\nBy\n\nMackenzie Jackson\n\n## [ Meet Intel: Aikido\u00e2\u0080\u0099s Open Source threat feed powered by LLMs.\n](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-llms)\n\nEngineering\n\nDecember 13, 2024\n\n[ Read more ](/blog/meet-intel-aikidos-open-source-threat-feed-powered-by-\nllms)\n\n[ ](/blog/aikido-joins-the-aws-partner-network)\n\nBy\n\nJohan De Keulenaer\n\n## [ Aikido joins the AWS Partner Network ](/blog/aikido-joins-the-aws-\npartner-network)\n\nNews\n\nNovember 26, 2024\n\n[ Read more ](/blog/aikido-joins-the-aws-partner-network)\n\n[ ](/blog/command-injection-in-2024-unpacked)\n\nBy\n\nMackenzie Jackson\n\n## [ Command injection in 2024 unpacked ](/blog/command-injection-\nin-2024-unpacked)\n\nEngineering\n\nNovember 24, 2024\n\n[ Read more ](/blog/command-injection-in-2024-unpacked)\n\n[ ](/blog/path-traversal-in-2024-the-year-unpacked)\n\nBy\n\nMackenzie Jackson\n\n## [ Path Traversal in 2024 - The year unpacked ](/blog/path-traversal-\nin-2024-the-year-unpacked)\n\nEngineering\n\nNovember 23, 2024\n\n[ Read more ](/blog/path-traversal-in-2024-the-year-unpacked)\n\n[ ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-commercial-\nsolutions)\n\nBy\n\nMackenzie Jackson\n\n## [ Balancing Security: When to Leverage Open-Source Tools vs. Commercial\nTools ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-\ncommercial-solutions)\n\nGuides\n\nNovember 15, 2024\n\n[ Read more ](/blog/balancing-security-when-to-leverage-open-source-tools-vs-\ncommercial-solutions)\n\n[ ](/blog/the-state-of-sql-injections)\n\nBy\n\nMackenzie Jackson\n\n## [ The State of SQL Injection ](/blog/the-state-of-sql-injections)\n\nGuides\n\nNovember 8, 2024\n\n[ Read more ](/blog/the-state-of-sql-injections)\n\n[ ](/blog/vismas-security-boost-with-aikido-a-conversation-with-nikolai-\nbrogaard)\n\nBy\n\nMichiel Denis\n\n## [ Visma\u00e2\u0080\u0099s Security Boost with Aikido: A Conversation with Nikolai\nBrogaard ](/blog/vismas-security-boost-with-aikido-a-conversation-with-\nnikolai-brogaard)\n\nNews\n\nNovember 6, 2024\n\n[ Read more ](/blog/vismas-security-boost-with-aikido-a-conversation-with-\nnikolai-brogaard)\n\n[ ](/blog/security-in-fintech)\n\nBy\n\nMichiel Denis\n\n## [ Security in FinTech: Q&A with Dan Kindler, co-founder & CTO of Bound\n](/blog/security-in-fintech)\n\nNews\n\nOctober 10, 2024\n\n[ Read more ](/blog/security-in-fintech)\n\n[ ](/blog/top-7-aspm-tools)\n\nBy\n\nFelix Garriau\n\n## [ Top 7 ASPM Tools in 2025 ](/blog/top-7-aspm-tools)\n\nGuides\n\nOctober 1, 2024\n\n[ Read more ](/blog/top-7-aspm-tools)\n\n[ ](/blog/sprinto-partnership)\n\nBy\n\nMadeline Lawrence\n\n## [ Automate compliance with SprintoGRC x Aikido ](/blog/sprinto-\npartnership)\n\nNews\n\nSeptember 11, 2024\n\n[ Read more ](/blog/sprinto-partnership)\n\n[ ](/blog/how-to-generate-an-sbom-for-an-audit)\n\nBy\n\nFelix Garriau\n\n## [ How to Create an SBOM for Software Audits ](/blog/how-to-generate-an-\nsbom-for-an-audit)\n\nGuides\n\nSeptember 9, 2024\n\n[ Read more ](/blog/how-to-generate-an-sbom-for-an-audit)\n\n[ ](/blog/sast-vs-dast-what-you-need-to-now)\n\nBy\n\nMadeline Lawrence\n\n## [ SAST vs DAST: What you need to know. ](/blog/sast-vs-dast-what-you-need-\nto-now)\n\nGuides\n\nSeptember 2, 2024\n\n[ Read more ](/blog/sast-vs-dast-what-you-need-to-now)\n\n[ ](/blog/best-sbom-generation-tools)\n\nBy\n\nFelix Garriau\n\n## [ Best SBOM Tools for Developers: Our 2025 Picks ](/blog/best-sbom-\ngeneration-tools)\n\nGuides\n\nAugust 7, 2024\n\n[ Read more ](/blog/best-sbom-generation-tools)\n\n[ ](/blog/5-snyk-alternatives-and-why-they-are-better)\n\nBy\n\nLieven Oosterlinck\n\n## [ 5 Snyk Alternatives and Why They Are Better ](/blog/5-snyk-alternatives-\nand-why-they-are-better)\n\nNews\n\nAugust 5, 2024\n\n[ Read more ](/blog/5-snyk-alternatives-and-why-they-are-better)\n\n[ ](/blog/why-were-stoked-to-partner-with-laravel)\n\nBy\n\nMadeline Lawrence\n\n## [ Why we\u00e2\u0080\u0099re stoked to partner with Laravel ](/blog/why-were-stoked-to-\npartner-with-laravel)\n\nNews\n\nJuly 8, 2024\n\n[ Read more ](/blog/why-were-stoked-to-partner-with-laravel)\n\n[ ](/blog/110000-sites-affected-by-the-polyfill-supply-chain-attack)\n\nBy\n\nFelix Garriau\n\n## [ 110,000 sites affected by the Polyfill supply chain attack\n](/blog/110000-sites-affected-by-the-polyfill-supply-chain-attack)\n\nNews\n\nJune 27, 2024\n\n[ Read more ](/blog/110000-sites-affected-by-the-polyfill-supply-chain-\nattack)\n\n[ ](/blog/cybersecurity-essentials-for-legaltech-companies)\n\nBy\n\nFelix Garriau\n\n## [ Cybersecurity Essentials for LegalTech Companies ](/blog/cybersecurity-\nessentials-for-legaltech-companies)\n\nNews\n\nJune 25, 2024\n\n[ Read more ](/blog/cybersecurity-essentials-for-legaltech-companies)\n\n[ ](/blog/drata-aikido-integration-automates-vulnerability-management)\n\nBy\n\nRoeland Delrue\n\n## [ Drata Integration - How to Automate Technical Vulnerability Management\n](/blog/drata-aikido-integration-automates-vulnerability-management)\n\nGuides\n\nJune 18, 2024\n\n[ Read more ](/blog/drata-aikido-integration-automates-vulnerability-\nmanagement)\n\n[ ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-security-\ntoolkit)\n\nBy\n\nJoel Hans\n\n## [ DIY guide: \u00e2\u0080\u0098Build vs buy\u00e2\u0080\u0099 your OSS code scanning and app security\ntoolkit ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-\nsecurity-toolkit)\n\nGuides\n\nJune 11, 2024\n\n[ Read more ](/blog/diy-guide-build-vs-buy-your-oss-code-scanning-and-app-\nsecurity-toolkit)\n\n[ ](/blog/soc-2-certification-tips)\n\nBy\n\nRoeland Delrue\n\n## [ SOC 2 certification: 5 things we learned ](/blog/soc-2-certification-\ntips)\n\nGuides\n\nJune 4, 2024\n\n[ Read more ](/blog/soc-2-certification-tips)\n\n[ ](/blog/app-security-problems-top-10)\n\nBy\n\nJoel Hans\n\n## [ Top 10 app security problems and how to protect yourself ](/blog/app-\nsecurity-problems-top-10)\n\nGuides\n\nMay 28, 2024\n\n[ Read more ](/blog/app-security-problems-top-10)\n\n[ ](/blog/we-just-raised-our-17-million-series-a)\n\nBy\n\nMadeline Lawrence\n\n## [ We just raised our $17 million Series A ](/blog/we-just-raised-\nour-17-million-series-a)\n\nNews\n\nMay 2, 2024\n\n[ Read more ](/blog/we-just-raised-our-17-million-series-a)\n\n[ ](/blog/best-rasp-tools)\n\nBy\n\n## [ Best RASP Tools for Developers in 2025 ](/blog/best-rasp-tools)\n\nApril 10, 2024\n\n[ Read more ](/blog/best-rasp-tools)\n\n[ ](/blog/webhook-security-checklist)\n\nBy\n\nWillem Delbare\n\n## [ Webhook security checklist: How to build secure webhooks\n](/blog/webhook-security-checklist)\n\nGuides\n\nApril 4, 2024\n\n[ Read more ](/blog/webhook-security-checklist)\n\n[ ](/blog/the-cure-for-security-alert-fatigue-syndrome)\n\nBy\n\nWillem Delbare\n\n## [ The Cure For Security Alert Fatigue Syndrome ](/blog/the-cure-for-\nsecurity-alert-fatigue-syndrome)\n\nEngineering\n\nFebruary 21, 2024\n\n[ Read more ](/blog/the-cure-for-security-alert-fatigue-syndrome)\n\n[ ](/blog/nis2-who-is-affected)\n\nBy\n\nRoeland Delrue\n\n## [ NIS2: Who is affected? ](/blog/nis2-who-is-affected)\n\nGuides\n\nJanuary 16, 2024\n\n[ Read more ](/blog/nis2-who-is-affected)\n\n[ ](/blog/iso-27001-certification-top-tips)\n\nBy\n\nRoeland Delrue\n\n## [ ISO 27001 certification: 8 things we learned\n](/blog/iso-27001-certification-top-tips)\n\nGuides\n\nDecember 5, 2023\n\n[ Read more ](/blog/iso-27001-certification-top-tips)\n\n[ ](/blog/loctax-eliminates-false-positives)\n\nBy\n\nBart Jonckheere\n\n## [ How Loctax uses Aikido Security to get rid of irrelevant security alerts\n& false positives ](/blog/loctax-eliminates-false-positives)\n\nNews\n\nNovember 22, 2023\n\n[ Read more ](/blog/loctax-eliminates-false-positives)\n\n[ ](/blog/aikido-security-raises-eur5m-to-offer-a-seamless-security-solution-\nto-growing-saas-businesses)\n\nBy\n\nFelix Garriau\n\n## [ Aikido Security raises \u00e2\u0082\u00ac5m to offer a seamless security solution to\ngrowing SaaS businesses ](/blog/aikido-security-raises-eur5m-to-offer-a-\nseamless-security-solution-to-growing-saas-businesses)\n\nNews\n\nNovember 9, 2023\n\n[ Read more ](/blog/aikido-security-raises-eur5m-to-offer-a-seamless-\nsecurity-solution-to-growing-saas-businesses)\n\n[ ](/blog/aikido-security-achieves-iso-270012022-compliance)\n\nBy\n\nRoeland Delrue\n\n## [ Aikido Security achieves ISO 27001:2022 compliance ](/blog/aikido-\nsecurity-achieves-iso-270012022-compliance)\n\nNews\n\nNovember 8, 2023\n\n[ Read more ](/blog/aikido-security-achieves-iso-270012022-compliance)\n\n[ ](/blog/aikido-improves-startup-security-posture-storychief)\n\nBy\n\nFelix Garriau\n\n## [ How StoryChief\u00e2\u0080\u0099s CTO uses Aikido Security to sleep better at night\n](/blog/aikido-improves-startup-security-posture-storychief)\n\nNews\n\nOctober 24, 2023\n\n[ Read more ](/blog/aikido-improves-startup-security-posture-storychief)\n\n[ ](/blog/what-is-a-cve)\n\nBy\n\nWillem Delbare\n\n## [ What is a CVE? ](/blog/what-is-a-cve)\n\nGuides\n\nOctober 17, 2023\n\n[ Read more ](/blog/what-is-a-cve)\n\n[ ](/blog/best-end-of-life-detection-tools)\n\nBy\n\nFelix Garriau\n\n## [ Best Tools for End-of-Life Detection: 2025 Rankings ](/blog/best-end-of-\nlife-detection-tools)\n\nGuides\n\nOctober 4, 2023\n\n[ Read more ](/blog/best-end-of-life-detection-tools)\n\n[ ](/blog/web-application-security-vulnerabilities)\n\nBy\n\nWillem Delbare\n\n## [ Top 3 web application security vulnerabilities in 2024 ](/blog/web-\napplication-security-vulnerabilities)\n\nEngineering\n\nSeptember 27, 2023\n\n[ Read more ](/blog/web-application-security-vulnerabilities)\n\n[ ](/blog/new-aikido-security-features-august-2023)\n\nBy\n\nFelix Garriau\n\n## [ New Aikido Security Features: August 2023 ](/blog/new-aikido-security-\nfeatures-august-2023)\n\nNews\n\nAugust 22, 2023\n\n[ Read more ](/blog/new-aikido-security-features-august-2023)\n\n[ ](/blog/saas-cto-security-checklist)\n\nBy\n\nFelix Garriau\n\n## [ Aikido\u00e2\u0080\u0099s 2025 SaaS CTO Security Checklist ](/blog/saas-cto-security-\nchecklist)\n\nNews\n\nAugust 10, 2023\n\n[ Read more ](/blog/saas-cto-security-checklist)\n\n[ ](/blog/saas-cto-security-checklist-old)\n\nBy\n\nFelix Garriau\n\n## [ Aikido\u00e2\u0080\u0099s 2024 SaaS CTO Security Checklist ](/blog/saas-cto-security-\nchecklist-old)\n\nNews\n\nAugust 10, 2023\n\n[ Read more ](/blog/saas-cto-security-checklist-old)\n\n[ ](/blog/cloud-code-security-cto-consultation)\n\nBy\n\nFelix Garriau\n\n## [ 15 Top Cloud and Code Security Challenges Revealed by CTOs\n](/blog/cloud-code-security-cto-consultation)\n\nEngineering\n\nJuly 25, 2023\n\n[ Read more ](/blog/cloud-code-security-cto-consultation)\n\n[ ](/blog/what-is-owasp-top-10)\n\nBy\n\nWillem Delbare\n\n## [ What is OWASP Top 10? ](/blog/what-is-owasp-top-10)\n\nGuides\n\nJuly 12, 2023\n\n[ Read more ](/blog/what-is-owasp-top-10)\n\n[ ](/blog/build-secure-admin-panel)\n\nBy\n\nWillem Delbare\n\n## [ How to build a secure admin panel for your SaaS app ](/blog/build-\nsecure-admin-panel)\n\nGuides\n\nJuly 11, 2023\n\n[ Read more ](/blog/build-secure-admin-panel)\n\n[ ](/blog/iso-270012022-preparation)\n\nBy\n\nRoeland Delrue\n\n## [ How to prepare yourself for ISO 27001:2022\n](/blog/iso-270012022-preparation)\n\nGuides\n\nJuly 5, 2023\n\n[ Read more ](/blog/iso-270012022-preparation)\n\n[ ](/blog/prevent-fallout-when-cicd-platform-hacked)\n\nBy\n\nWillem Delbare\n\n## [ Preventing fallout from your CI/CD platform being hacked\n](/blog/prevent-fallout-when-cicd-platform-hacked)\n\nGuides\n\nJune 19, 2023\n\n[ Read more ](/blog/prevent-fallout-when-cicd-platform-hacked)\n\n[ ](/blog/security-assessment-report-closes-deals-faster)\n\nBy\n\nFelix Garriau\n\n## [ How to Close Deals Faster with a Security Assessment Report\n](/blog/security-assessment-report-closes-deals-faster)\n\nNews\n\nJune 12, 2023\n\n[ Read more ](/blog/security-assessment-report-closes-deals-faster)\n\n[ ](/blog/a-guide-to-automating-technical-vulnerability-management-for-soc-2)\n\nBy\n\nWillem Delbare\n\n## [ Automate Technical Vulnerability Management [SOC 2] ](/blog/a-guide-to-\nautomating-technical-vulnerability-management-for-soc-2)\n\nGuides\n\nJune 5, 2023\n\n[ Read more ](/blog/a-guide-to-automating-technical-vulnerability-management-\nfor-soc-2)\n\n[ ](/blog/prevent-prototype-pollution)\n\nBy\n\nWillem Delbare\n\n## [ Preventing prototype pollution in your repository ](/blog/prevent-\nprototype-pollution)\n\nGuides\n\nJune 1, 2023\n\n[ Read more ](/blog/prevent-prototype-pollution)\n\n[ ](/blog/how-does-a-saas-startup-cto-balance-development-speed-and-security)\n\nBy\n\nWillem Delbare\n\n## [ How does a SaaS startup CTO balance development speed and security?\n](/blog/how-does-a-saas-startup-cto-balance-development-speed-and-security)\n\nGuides\n\nMay 16, 2023\n\n[ Read more ](/blog/how-does-a-saas-startup-cto-balance-development-speed-\nand-security)\n\n[ ](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-that-sends-an-\nemail)\n\nBy\n\nWillem Delbare\n\n## [ How a startup\u00e2\u0080\u0099s cloud got taken over by a simple form that sends emails\n](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-that-sends-an-\nemail)\n\nEngineering\n\nApril 10, 2023\n\n[ Read more ](/blog/how-a-startups-cloud-got-taken-over-by-a-simple-form-\nthat-sends-an-email)\n\n[ ](/blog/aikido-security-raises-eur2-million-pre-seed-round-to-build-a-\ndeveloper-first-software-security-platform)\n\nBy\n\nFelix Garriau\n\n## [ Aikido Security raises \u00e2\u0082\u00ac2 million pre-seed round to build a developer-\nfirst software security platform ](/blog/aikido-security-raises-eur2-million-\npre-seed-round-to-build-a-developer-first-software-security-platform)\n\nNews\n\nJanuary 19, 2023\n\n[ Read more ](/blog/aikido-security-raises-eur2-million-pre-seed-round-to-\nbuild-a-developer-first-software-security-platform)\n\n[ ](/blog/why-we-need-lockfiles-to-secure-our-supply-chain)\n\nBy\n\n## [ Why Lockfiles Matter for Supply Chain Security ](/blog/why-we-need-\nlockfiles-to-secure-our-supply-chain)\n\n[ Read more ](/blog/why-we-need-lockfiles-to-secure-our-supply-chain)\n\n[ ](/blog/xrp-supplychain-attack-official-npm-package-infected-with-crypto-\nstealing-backdoor)\n\nBy\n\nCharlie Eriksen\n\n### [ XRP supply chain attack: Official NPM package infected with crypto\nstealing backdoor ](/blog/xrp-supplychain-attack-official-npm-package-\ninfected-with-crypto-stealing-backdoor)\n\nMarch 31, 2025\n\n[ ](/blog/best-end-of-life-detection-tools)\n\nBy\n\nFelix Garriau\n\n### [ Best Tools for End-of-Life Detection: 2025 Rankings ](/blog/best-end-\nof-life-detection-tools)\n\nGuides\n\nMarch 18, 2025\n\n[ ](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nBy\n\nThomas Segura\n\n### [ Your Client Requires NIS2 Vulnerability Patching. Now What?\n](/blog/your-client-requires-nis2-vulnerability-patching-now-what)\n\nFebruary 11, 2025\n\n## Get secure in 32 seconds\n\nConnect your GitHub, GitLab, Bitbucket or Azure DevOps account to start\nscanning your repos for free.\n\n[ Start for Free ](https://app.aikido.dev/login)\n\nYour data won't be shared \u00c2\u00b7 Read-only access\n\n[ ](/)\n\nCompany\n\n[ Product ](/product) [ Pricing ](/pricing) [ About ](/about) [ Careers\n](/careers) [ Contact ](/contact) [ Partner with us ](/partner)\n\nResources\n\n[ Docs ](https://help.aikido.dev/doc/overview-aikido-docs/docCpLHBMatZ) [\nPublic API Docs ](https://apidocs.aikido.dev/) [ Vulnerability Database\n](https://security.aikido.dev/) [ Blog ](/blog) [ Integrations\n](https://integrations.aikido.dev/) [ Glossary ](/glossary) [ Press Kit\n](/press-kit) [ Customer Reviews ](/wall-of-love)\n\nSecurity\n\n[ Trust Center ](/trust-center) [ Security Overview\n](https://trustcenter.aikido.dev/) Change Cookie Preferences\n\nLegal\n\n[ Privacy Policy ](https://www.aikido.dev/policies/privacy) [ Cookie Policy\n](https://www.aikido.dev/policies/cookies) [ Terms of Use\n](https://www.aikido.dev/policies/terms) [ Master Subscription Agreement\n](/aikido-security-bv-msa) [ Data Processing Agreement ](/aikido-security-bv-\ndpa)\n\nUse Cases\n\n[ Compliance ](/use-cases/soc2-iso-compliance) [ SAST & DAST ](/use-\ncases/sast-dast) [ ASPM ](/use-cases/application-security-posture-management-\naspm) [ Vulnerability Management ](/use-cases/vulnerability-management) [\nGenerate SBOMs ](/use-cases/sbom-generator-create-software-bill-of-materials)\n[ WordPress Security ](/use-cases/wordpress-security) [ Secure Your Code\n](/use-cases/secure-your-source-code)\n\nIndustries\n\n[ For HealthTech ](/industries/healthtech) [ For MedTech\n](/industries/medtech) [ For FinTech ](/industries/aikido-for-fintech) [ For\nSecurityTech ](/industries/security-tech) [ For LegalTech\n](/industries/aikido-for-legaltech) [ For HRTech ](/industries/aikido-for-\nhrtech) [ For Agencies ](/industries/aikido-for-agencies) [ For Enterprise\n](/industries/aikido-for-enterprise) [ For PE & Group Companies\n](/industries/pe-group-companies)\n\nCompare\n\n[ vs All Vendors ](/comparison/comparison-overview) [ vs Snyk\n](/comparison/snyk-alternative) [ vs Wiz ](/comparison/wiz-alternative) [ vs\nMend ](/comparison/mend-alternative) [ vs Orca Security ](/comparison/orca-\nsecurity-alternative) [ vs Veracode ](/comparison/veracode-alternative) [ vs\nGitHub Advanced Security ](/comparison/github-advanced-security-alternative) [\nvs GitLab Ultimate ](/comparison/gitlab-ultimate-alternative) [ vs Checkmarx\n](/comparison/checkmarx) [ vs Semgrep ](/comparison/semgrep) [ vs SonarQube\n](/comparison/aikido-vs-sonarqube)\n\nConnect\n\n[ hello@aikido.dev ](mailto:hello@aikido.dev)\n\n[ LinkedIn ](https://www.linkedin.com/company/aikido-security/) [ X\n](https://twitter.com/AikidoSecurity)\n\nSubscribe\n\nStay up to date with all updates\n\n\u00f0\u009f\u0091\u008b\u00f0\u009f\u008f\u00bb Thank you! You\u00e2\u0080\u0099ve been subscribed.\n\nTeam Aikido\n\nNot quite there yet.\n\n\u00c2\u00a9 2025 Aikido Security BV | BE0792914919 \n\u00f0\u009f\u0087\u00aa\u00f0\u009f\u0087\u00ba Registered address: Coupure Rechts 88, 9000, Ghent, Belgium \n\u00f0\u009f\u0087\u00aa\u00f0\u009f\u0087\u00ba Office address: Gebroeders van Eyckstraat 2, 9000, Ghent, Belgium \n\u00f0\u009f\u0087\u00ba\u00f0\u009f\u0087\u00b8 Office address: 95 Third St, 2nd Fl, San Francisco, CA 94103, US\n\n[ SOC 2 Compliant ISO 27001 Compliant ](/trust-center)\n\n",
"url": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
"reason": "This page explicitly mentions The Cronos Group and discusses Aikido's role in strengthening their security posture. While the source is related to cybersecurity services, the information presented appears factual and relevant to the company's operations.",
"reliability_score": 0.7,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "Aikido discusses strengthening The Cronos Group's security posture.",
"url": "https://www.aikido.dev/blog/aikido-strengthens-cronos-group-security-posture"
},
{
"content": {
"metadata": {
"ext_id": "edd00dce-5301-4ec3-95cd-6226628ea930",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://thecronosgroup.com/"
},
"page_content": "Skip to content\n\n## A Global \nCannabinoid Company\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae .\n\n[ Explore Brands _arrow_forward_ ](/brands/) Explore Solutions \u2192\n\n# About\n\n## Us\n\n## Mission\n\nBuild brands and create products that enhance experiences\n\n## Vision\n\nTake experiences to new highs\n\n## Values\n\nAt the heart of Cronos are our values. They are the principles that steer our\nactions and define our character. They represent who we are, how we operate,\nand the reputation we aspire to build and maintain within the industry and all\nour stakeholders who help shape it.\n\n## Community\n\nWe believe in building and supporting a fair and equitable industry.\n\n## Fun\n\nWe believe in creating your favorite products through innovation and\nimagination.\n\n## Responsibility\n\nWe believe our products are for adults* (*Adults are those of the legal age of\nconsumption in the relevant jurisdiction).\n\n## Quality\n\nWe believe in elevating industry practices to provide quality products focused\non reliability and transparency.\n\n# The\n\n## Team\n\nOur management team comprises experts in their fields, with a goal to\nestablish the most valuable international cannabis company. They are\npassionate, daring people, driven by quality and integrity, who are determined\nto write history, not read about it.\n\nMike Gorenstein\n\nAnna Shlimak\n\nJeff Jacobson\n\nShannon Buggy\n\nTerry Doucet\n\nArye Weigensberg\n\nAdam Wagner\n\nMike Gorenstein __\n\n# Mike Gorenstein\n\n#### Chairman, President and Chief Executive Officer\n\nMike Gorenstein serves as Cronos Group\u2019s Chairman, President and Chief\nExecutive Officer, he also serves as Chairman of Cronos Group\u2019s Board of\nDirectors. In addition, Mr. Gorenstein is a Co-Founder and passive Member of\nGotham Green Partners. Before joining Cronos, Mike was the Vice President and\nGeneral Counsel at Alphabet Partners, LP, a New York City based multi-strategy\ninvestment management firm, focused on identifying mispriced assets across\nvarious industries, asset classes and geographies. Prior to Alphabet Partners,\nLP, he was a corporate attorney at Sullivan & Cromwell LLP, where he focused\non mergers and acquisitions and capital markets transactions. Mike graduated\nfrom the University of Pennsylvania Law School with a Juris Doctor, the\nWharton School at University of Pennsylvania with a certificate in Business\nEconomics and Public Policy and the Kelley School of Business at Indiana\nUniversity with a Bachelor of Science of Business in Finance.\n\nAnna Shlimak __\n\n# Anna Shlimak\n\n#### Chief Financial Officer\n\nAnna serves as Cronos\u2019 Chief Financial Officer. Anna recently served as the\nCompany\u2019s Chief Strategy Officer and was responsible for managing and\ndirecting the organization\u2019s corporate strategy, investor relations,\ncommunications, government affairs, and information systems departments. Prior\nto joining Cronos, Anna was the Head of Investor Relations at Quest Partners\nLLC, a research-driven alternative investment firm. Anna was responsible for\nbusiness development, investor reporting, marketing, and communication\ninitiatives for the fund. Before that, Anna held a range of roles at the New\nYork Stock Exchange in both the New York and London offices. She received a\nMaster of Business Administration from Columbia Business School and holds a\nBachelor of Science in Economics from The Wharton School at the University of\nPennsylvania.\n\nJeff Jacobson __\n\n# Jeff Jacobson\n\n#### Chief Growth Officer\n\nAs Chief Growth Officer, Jeff leads the Marketing, Innovation, Operations and\nSales team in North America as well as the Consumer Insights and Data\nAnalytics teams for Cronos Group\u2019s global business. Jeff sets the strategy for\nour brands and is responsible for leading our global teams to help execute\nCronos Group\u2019s vision. Jeff previously served as Cronos Group\u2019s General\nManager of Canada and Europe. Before joining Cronos Group, Jeff founded a\nToronto based marketing agency and successfully launched and licensed several\ninnovative software products in the mobile industry. As a co-founder of Peace\nNaturals, Jeff\u2019s expertise and experience in licensing and compliance, new\nbusiness development, project management and resource management help Cronos\nGroup lead in a variety of markets.\n\nShannon Buggy __\n\n# Shannon Buggy\n\n#### Senior Vice President, Global Head of People\n\nShannon serves as the SVP, Global Head of People for Cronos Group where she\nleads HR strategy across the Company\u2019s global operations. Prior to Cronos\nGroup, Shannon was the Senior Vice President of Global Human Resources for\nNielsen where she led HR strategy for Nielsen Media. With over 25 years of\nexperience, Shannon has a proven track record of leading and managing global\nhuman resources teams and driving excellence in talent acquisition,\ndevelopment, retention, employee relations, compensation, benefits, talent\nmanagement and labor relations. Shannon holds a certification as a Senior\nProfessional in Human Resources from the HR Certification Institute. She\ngraduated magna cum laude with a Bachelor of Science degree in Human Resources\nManagement from the Pace University, Lubin School of Business.\n\nTerry Doucet __\n\n# Terry Doucet\n\n#### General Counsel and Corporate Secretary\n\nTerry Doucet serves as Cronos Group\u2019s General Counsel and Corporate Secretary.\nIn this capacity, he manages all legal and regulatory affairs at Cronos Group\nand also serves as the Company\u2019s Corporate Secretary. Prior to joining Cronos,\nTerry was a corporate lawyer at Davies Ward Phillips & Vineberg LLP in\nToronto, where he focused primarily on M&A in large, complex and cross-border\ntransactions across numerous industries, as well as securities, corporate\nfinance and lending transactions. During that time, Terry was also seconded to\nRBC Capital Markets, where he supported the bank\u2019s derivative trading desks.\nTerry is an Ontario-qualified lawyer, holding a Juris Doctor from the\nUniversity of Toronto and a joint honours (first class) Bachelor of Arts\ndegree from McGill University in Montreal.\n\nArye Weigensberg __\n\n# Arye Weigensberg\n\n#### Head of Research and Development\n\nAs Head of Research and Development, Arye is responsible for leading Cronos\u2019\ninnovation program, where he oversees research and technology functions, and\nleads scientific efforts to unlock the potential of rare cannabinoids. Before\njoining Cronos, Arye was the CEO of Altria Israel Ltd, an Altria research and\ndevelopment innovation hub. Arye joined Altria as part of its acquisition of\nGreen Smoke, where he was the Director of Marketing and Brand Management.\nPrior to Green Smoke, Arye held a variety of roles in brand management and\nmarketing, supporting food brands such as Manischewitz, Lawry\u2019s, Ragu, Knorr\nand Country Crock. Arye graduated from Concordia University\u2019s John Molson\nSchool of Business with a Bachelor of Commerce in Marketing and International\nBusiness.\n\nAdam Wagner __\n\n# Adam Wagner\n\n#### SVP, Head of Cronos Israel\n\nAdam Wagner serves as Senior Vice President, Head of Cronos Israel. Adam\noversees the business and strategy of Cronos Israel. Before he was appointed\nas Head of Cronos Israel, he was the VP of Finance at Cronos Israel where he\noversaw the regional Israel finance department, including FP&A,\ncontrollership, audit, treasury, tax, as well as IT, supply chain and\nprocurement . Before joining Cronos, Adam worked as a Director of Finance at\nMotus GI, a publicly traded medical device company, where he oversaw the\nIsrael-based finance department. Before that, Adam was a Finance Manager at\nMedtronic, a publicly traded medical equipment manufacturer, where he oversaw\nthe Israel-based finance department functions. Prior to Medtronic\u2019s\nacquisition, he was the Corporate Controller for Mazor Robotics, a dual-listed\npublic medical device company. Adam began his career as a Senior Auditor at EY\nwhere he managed a team that performed audits for various publicly traded and\nprivate companies. Adam also serves as a Finance expert on an advisory board\nfor a wellness and healthcare start-up. Adam is a CPA (Israel) and studied\nAccounting at Bar-Ilan University. Adam also holds a Bachelor\u2019s Degree in\nScience of Nutrition and his Master of Science in Genetics and Biochemistry\nfrom Tel Aviv University.\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\n[ Facebook ](https://www.facebook.com/cronosgroupoffical) [ X-twitter\n](https://twitter.com/cronosgroup) [ Linkedin\n](https://www.linkedin.com/company/cronos-group-cron/?viewAsMember=true)\n\n\u00a9 2024 The Cronos Group. All rights reserved.\n\nFacebook X-twitter Linkedin\n\n",
"url": "https://thecronosgroup.com/"
},
"reason": "This is the official website of The Cronos Group, providing direct information about the company, its products, and its mission. It is a highly reliable source for information about the company.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' employee well-being",
"summary": "Official website of The Cronos Group.",
"url": "https://thecronosgroup.com/"
},
{
"content": {
"metadata": {
"ext_id": "d1fd921c-4540-421b-9e2a-bcedc72b0e9d",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.growopportunity.ca/cronos-group-reports-2024-third-quarter-results/"
},
"page_content": "[ ](https://www.growopportunity.ca/ \"Grow Opportunity\")\n\n[ **Buyers Guide** ](/buyers-guide \"Buyers Guide\")\n\n[ **Subscribe**\n](https://annex.dragonforms.com/loading.do?omedasite=GO_prefsnew)\n\n[ **Subscribe**\n](https://annex.dragonforms.com/loading.do?omedasite=GO_prefsnew)\n\n\u00d7\n\n#### Explore\n\n * [ News ](https://www.growopportunity.ca/category/news/)\n * [ Industry Updates ](https://www.growopportunity.ca/category/news/industry-updates/)\n * [ Markets ](https://www.growopportunity.ca/category/news/markets/)\n * [ Regulations ](https://www.growopportunity.ca/category/news/regulations/)\n * [ Features ](https://www.growopportunity.ca/category/features/)\n * [ Opinion ](https://www.growopportunity.ca/topic/opinion/)\n * [ Webinars ](/webinars)\n * [ Podcast ](/podcast/)\n * [ Buyers Guide ](https://www.growopportunity.ca/buyers-guide/)\n * [ Canada\u2019s Top Grower ](https://www.growopportunity.ca/canadas-top-grower/)\n * [ Virtual Summits ](/virtual-events)\n * [ Grower Day ](https://www.growerday.ca)\n * [ Videos ](/videos/)\n\n#### Topics\n\n * [ Cultivation ](https://www.growopportunity.ca/topic/cultivation/)\n * [ Extraction ](https://www.growopportunity.ca/topic/extraction/)\n * [ Production ](https://www.growopportunity.ca/topic/production/)\n * [ Security ](https://www.growopportunity.ca/topic/security/)\n * [ Legal ](https://www.growopportunity.ca/topic/legal/)\n * [ Management ](https://www.growopportunity.ca/topic/management/)\n * [ Business ](https://www.growopportunity.ca/topic/business/)\n * [ Marketing ](https://www.growopportunity.ca/topic/marketing/)\n * [ Human Resources ](https://www.growopportunity.ca/topic/human-resources/)\n * [ Opinion ](https://www.growopportunity.ca/topic/opinion/)\n * [ Extraction ](https://www.growopportunity.ca/topic/extraction/)\n\n#### Information\n\n * [ About ](https://www.growopportunity.ca/about/)\n * [ Advertise ](https://www.growopportunity.ca/advertise/)\n * [ Contact ](https://www.growopportunity.ca/contact/)\n * [ Digital Edition ](https://www.growopportunity.ca/digital-edition/)\n * [ eNews Archives ](https://www.growopportunity.ca/enews-archives/)\n * [ Subscription ](https://annex.dragonforms.com/loading.do?omedasite=GO_digital)\n\n# [ News ](https://www.growopportunity.ca/category/news/) __ \nCronos Group reports 2024 third quarter results\n\nNovember 12, 2024 By Grow Opportunity Staff\n\n \n\n(Globe Newswire) Toronto \u2013 Cronos Group Inc. today announced its 2024 third\nquarter business results.\n\n\u201cOur results this quarter demonstrate that our long-term strategy is working.\nWith record net revenue and a disciplined approach to operating expenses,\nCronos operates more efficiently and effectively than ever before, and we\nanticipate long-term margin improvement. Our consolidation of Cronos Growing\nCompany has further strengthened our supply chain, which we anticipate will\nlead to improved margins and allow us to meet the increasing global demand for\nhigh-quality cannabis . With an industry-leading balance sheet, we are well-\npositioned to expand into new legal markets and drive future growth\nopportunities,\u201d said Mike Gorenstein, Chairman, President and CEO, Cronos.\n\n\u201cAs international demand continues to rise, particularly in markets like\nGermany, the UK, and Australia, the investments we\u2019ve made in our\ninfrastructure and global partnerships are paying off,\u201d continued Mr.\nGorenstein. \u201cIn the third quarter, our award-winning Spinach \u00ae brand rose to\nbecome the best-selling cannabis brand in the Canadian adult-use market and\nour Peace Naturals \u00ae brand held a top spot in the Israeli medical market.\nOur brands\u2019 market share out-performance represents our relentless commitment\nto quality, innovation, and bringing differentiated products to the global\ncannabis market. The progress we\u2019ve made reinforces our leadership in key\ncategories and markets, and we remain focused on continuing to innovate and\nbring premium products to consumers.\u201d\n\n1 Hifyre Retail Analytics \u2013 National Retail Dollar Sales by Brand in Canada \u2013\nAugust 2024.\n\nAdvertisement\n\n**_Consolidated Financial Results_ ** \nOn June 20, 2024 the Company made an additional investment in Cronos Growing\nCompany (\u201d Cronos GrowCo\u201d) to fund the expansion of cultivation operations.\nCronos also obtained majority control of the board of directors of Cronos\nGrowCo and began consolidating Cronos GrowCo\u2019s results as of July 1, 2024.\nPrior to this date, the Company\u2019s investment in Cronos GrowCo consisted of an\ninvestment accounted for under the equity method and loans receivable from\nCronos GrowCo.\n\nIn the second quarter of 2023, the Company exited its U.S. hemp-derived CBD\noperations. The exit of the U.S. operations represented a strategic shift, and\nas such, qualifies for reporting as discontinued operations in the condensed\nconsolidated statements of net income (loss) and comprehensive income (loss).\nPrior period amounts have been reclassified to reflect the discontinued\noperations classification of the U.S. operations.\n\nThe tables below set forth our condensed consolidated results of continuing\noperations, expressed in thousands of U.S. dollars for the periods presented.\nOur condensed consolidated financial results for these periods are not\nnecessarily indicative of the consolidated financial results that we will\nachieve in future periods.\n\n_(in thousands of USD)_ | | **Three months ended September 30,** | | **Change** | | **Nine months ended September 30,** | | **Change** \n---|---|---|---|---|---|---|---|--- \n| | | **2024** | | | | **2023** | | | **$** | | **%** | | | **2024** | | | | **2023** | | | **$** | | **%** \nCronos net revenue, excluding Cronos GrowCo net revenue (i) | | $ | 29,996 | | | $ | 24,810 | | | $ | 5,186 | | | 21 | % | | $ | 83,046 | | | $ | 63,326 | | | $ | 19,720 | | | 31 | % \nCronos GrowCo net revenue ( i i ) | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A | | | 4,268 | | | | \u2014 | | | | 4,268 | | | N/A \nNet revenue | | $ | 34,264 | | | $ | 24,810 | | | $ | 9,454 | | | 38 | % | | $ | 87,314 | | | $ | 63,326 | | | $ | 23,988 | | | 38 | % \n| | | | | | | | | | | | | | | | \nCost of sales | | | 30,341 | | | | 20,124 | | | | 10,217 | | | 51 | % | | | 72,216 | | | | 52,614 | | | | 19,602 | | | 37 | % \nInventory write-down | | | 312 | | | | 716 | | | | (404 | ) | | (56 | )% | | | 707 | | | | 716 | | | | (9 | ) | | (1 | )% \nGross profit | | $ | 3,611 | | | $ | 3,970 | | | $ | (359 | ) | | (9 | )% | | $ | 14,391 | | | $ | 9,996 | | | $ | 4,395 | | | 44 | % \nGross margin (iii) | | | 11 | % | | | 16 | % | | N/A | | (5) pp | | | 16 | % | | | 16 | % | | N/A | | \u2014pp \n| | | | | | | | | | | | | | | | \nInventory step-up recorded to cost of sales | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A | | | 7,116 | | | | \u2014 | | | | 7,116 | | | N/A \nAdjusted Gross Profit ( i v ) | | $ | 10,727 | | | $ | 3,970 | | | $ | 6,757 | | | 170 | % | | $ | 21,507 | | | $ | 9,996 | | | $ | 11,511 | | | 115 | % \nAdjusted Gross Margin ( v ) | | | 31 | % | | | 16 | % | | N/A | | 15pp | | | 25 | % | | | 16 | % | | N/A | | 9pp \n| | | | | | | | | | | | | | | | \nNet income (loss) | | $ | 7,324 | | | $ | (1,590 | ) | | $ | 8,914 | | | N/M | | $ | (3,919 | ) | | $ | (25,288 | ) | | $ | 21,369 | | | 85 | % \n| | | | | | | | | | | | | | | | \nAdjusted EBITDA ( iv ) | | $ | (6,019 | ) | | $ | (15,187 | ) | | $ | 9,168 | | | 60 | % | | $ | (27,739 | ) | | $ | (46,774 | ) | | $ | 19,035 | | | 41 | % \n| | | | | | | | | | | | | | | | \n**Other Data** | | | | | | | | | | | | | | | | \nCash and cash equivalents (vi) | | $ | 862,034 | | | $ | 571,656 | | | $ | 290,378 | | | 51 | % | | | | | | | | \nShort-term investments (vi) | | | \u2014 | | | | 267,905 | | | | (267,905 | ) | | (100 | )% | | | | | | | | \nCapital expenditures ( vii ) | | | 6,536 | | | | 325 | | | | 6,211 | | | 1,911 | % | | | 9,446 | | | | 1,631 | | | | 7,815 | | | 479 | % \n \n_(i)_ _Cronos net revenue, excluding Cronos GrowCo net revenue is Net revenue\nless Cronos GrowCo net revenue and is after intercompany eliminations._ \n_(ii)_ _Cronos GrowCo net revenue is Cronos GrowCo\u2019s net revenue after\nintercompany eliminations._ \n_(iii)_ _Gross margin is defined as gross profit divided by net revenue._ \n_(iv)_ _See \u201cNon-GAAP Measures\u201d for more information, including a\nreconciliation of adjusted earnings (loss) before interest, taxes,\ndepreciation and amortization (\u201cAdjusted EBITDA\u201d) to net income (loss) and a\nreconciliation of Adjusted Gross Profit to gross profit._ \n_(v)_ _Adjusted Gross Margin is defined as Adjusted Gross Profit divided by\nnet revenue._ \n_(vi)_ _Dollar amounts are as of the last day of the period indicated._ \n_(vii)_ _Capital expenditures represent component information of investing\nactivities and is defined as the sum of purchase of property, plant and\nequipment, and purchase of intangible assets._\n\nAdvertisement\n\n**Third Quarter** **2024**\n\n * Net revenue of $34.3 million in Q3 2024 increased by $9.5 million from Q3 2023. The increase was primarily due to higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and sales to other international markets consisting of Australia, Germany and the United Kingdom (the \u201cUK\u201d). Cronos GrowCo contributed $4.3 million of cannabis flower sales in both the three and nine months ended September 30, 2024. \n * Gross profit of $3.6 million in Q3 2024 decreased by $0.4 million from Q3 2023. The decrease was primarily due to the impact on cost of sales from the inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction on July 1, 2024, partially offset by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted Gross Profit of $10.7 million in Q3 2024 increased by $6.8 million from Q3 2023. Adjusted Gross Profit and Adjusted Gross Margin provide insight into underlying business trends to facilitate comparisons of period-over-period results by removing the impacts of inventory-related purchase accounting adjustments resulting from the Cronos GrowCo transaction, which reflect a one-time event and do not reflect management\u2019s assessment of ongoing performance. The increase in Adjusted Gross Profit was driven by higher cannabis flower and extract sales in the Canadian market, higher cannabis flower sales in Israel, and higher cannabis flower sales in other countries. \n * Adjusted EBITDA of $(6.0) million in Q3 2024 improved by $9.2 million from Q3 2023. The improvement year-over-year was primarily driven by higher net revenue, improved Adjusted Gross Profit and a decrease in general and administrative expenses. \n\n**_Business Updates_ **\n\n**Transaction with Cronos GrowCo** \nThe global cannabis market continues to expand as international markets fuel\nan increasing demand for high-quality products. The investment in Cronos\nGrowCo\u2019s facility expansion enables Cronos to increase supply of Cronos\u2019\nunique portfolio of genetics which has helped the Company win in the highly\ncompetitive Canadian market, as well as expand Cronos\u2019 international footprint\nwith distribution to the growing markets in Australia, Germany, and the UK.\n\n**Key highlights of the transaction:**\n\nAdvertisement\n\n * **Increased Board Representation** : As of July 1, 2024, the Cronos GrowCo board of directors expanded to five members, three of whom are appointed by Cronos. \n * **Financial Consolidation** : Cronos now consolidates Cronos GrowCo\u2019s results in its financial statements beginning in the third quarter of 2024. \n * **Investment in Expansion** : Cronos provided an approximately $51 million ($70 million CAD) secured non-revolving credit facility to Cronos GrowCo to fund the expansion of Cronos GrowCo\u2019s cultivation and processing facilities, enabling growth opportunities in the markets Cronos operates in today as well as enabling Cronos to take advantage of future growth into new markets that open. \n * **New Supply Agreement** : Prior to the commencement of sales from the expanded facility, Cronos will have the option to purchase up to 80% of Cronos GrowCo\u2019s total production. Thereafter, Cronos will have the option to purchase up to 70% of the total production from the expanded facility. \n\n**Brand and Product Portfolio**\n\n**_Spinach_ ** \u00ae\n\nIn Q3 2024, Spinach \u00ae was the top-selling cannabis brand in Canada\naccording to Hifyre. This market share success highlights Cronos\u2019 unwavering\ndedication to quality, innovation, and delivering distinctive products to the\ncompetitive Canadian adult-use market.\n\nSpinach \u00ae has solidified itself as the go-to brand for a wide array of\nproducts featuring different cannabinoid combinations, potency ranges and\nflavor profiles. In the edibles category, the Spinach \u00ae brand held the\nnumber one position with a 17.2% market share in Q3 2024, according to Hifyre.\n\nIn Q3 2024, the Spinach \u00ae brand launched three new edible SKUs, which included the SOURZ by Spinach \u00ae Strawberry Watermelon 4:1 CBG|THC gummies, SOURZ by Spinach \u00ae Peach Passionfruit 1:1:1 CBN | CBD | THC gummies, and the brand\u2019s first limited edition SOURZ by Spinach \u00ae Caramel Green Apple gummies. \n\nCronos\u2019 strong cannabis cultivar breeding program and portfolio of genetics\ncontinued to drive growth, propelling the Spinach \u00ae brand to become the\nnumber one flower brand in Canada, with a 6.0% market share in Q3 2024,\naccording to Hifyre.\n\nThe Spinach \u00ae brand was ranked fourth in the vape category in Q3 2024,\nholding a 6.4% market share, according to Hifyre. This performance was driven\nby popular products such as Spinach HITZ\u2122, which introduced new Pink Lemonade\nand Rocket Icicle flavors, alongside line extensions in Spinach \u00ae 1.2g\nVapes.\n\nIn Q3 2024, Spinach \u00ae was ranked eighth in the pre-roll category with 2.7%\nmarket share, according to Hifyre. In the sub-category of infused pre-rolls,\nthe Spinach \u00ae Fully Charged infused pre-rolls have begun to make their mark\nand are trending towards becoming a top selling product. The infused pre-roll\ncategory is continuing to grow and we expect this category to be key to future\ngrowth for both Cronos and the industry, which is why we are committed to\nevolution and innovation of the pre-roll portfolio.\n\n**_PEACE NATURALS_ ** **_\u00ae_ **\n\nIn Israel, PEACE NATURALS \u00ae continues to be a top-performing brand with a\nrecord volume of sales in Q3 2024, powered by Cronos\u2019 advanced genetic\nbreeding program and high-quality cultivation capabilities. Despite the\nconflict involving Israel, Hamas, Iran and other stakeholders in the region,\nan incredibly competitive market and declining patient counts due to\nregulatory market structure shifts, the brand continues to out-perform in the\nIsraeli cannabis market.\n\nIn Germany and the UK, we are experiencing strong traction with Cronos\u2019\nproprietary genetics, such as GMO and Wedding Cake, under the PEACE NATURALS\n\u00ae brand. The expansion of Cronos GrowCo will help enable Cronos to execute on\nthese growth opportunities and others as they become available.\n\n**Guidance and Outlook**\n\nThe Company reiterates its previously announced operating expense savings\ntarget of $5 to $10 million on a standalone basis in 2024 primarily driven by\nsavings in general and administrative, sales and marketing and research and\ndevelopment (\u201cR&D\u201d). The organizational and cost savings initiatives are\nintended to position the Company to drive profitable and sustainable growth\nover time. The operating expense savings target excludes the impact of the\nconsolidation of Cronos GrowCo\u2019s results into the Company\u2019s financial\nstatements.\n\nThese statements are forward-looking and actual results may differ materially.\nRefer to \u201cForward-Looking Statements\u201d below for information on the factors\nthat could cause actual results to differ materially from these forward-\nlooking statements.\n\n**_Conference Call_ ** \nThe Company will host a conference call and live audio webcast on Tuesday,\nNovember 12, 2024, at 8:30 a.m. ET to discuss 2024 Third Quarter business\nresults. An audio replay of the call will be archived on the Company\u2019s website\nfor replay. Instructions for the live audio webcast are provided on the\nCompany\u2019s website at _https://ir.thecronosgroup.com/events-presentations._\n\n* * *\n\n[ __ Print this page ](javascript:window.print\\(\\))\n\n * [ Tweet ](https://twitter.com/share)\n * * \n\n * __ [ HYTN announces marketing program ](https://www.growopportunity.ca/hytn-announces-marketing-program/)\n * [ High Tide announces closing of final tranche of $15 million subordinated debt facility ](https://www.growopportunity.ca/high-tide-announces-closing-of-final-tranche-of-15-million-subordinated-debt-facility/) __\n\n## Advertisement\n\nStories continue below\n\n \n \n\nRelated\n\n \n\nTags\n\n * [ news ](https://www.growopportunity.ca/tag/news/)\n\n \n\n[ ](https://www.growopportunity.ca/ \"Grow Opportunity\")\n\n* * *\n\n * [ Greenhouse Canada ](https://www.greenhousecanada.com/)\n * [ Grower Day ](https://www.growerday.ca)\n * [ Canada\u2019s Top Grower ](https://www.growopportunity.ca/canadas-top-grower/)\n\n### Trending\n\n### Social Media\n\n * [ **X** ](https://www.x.com/GrowOpportunity?lang=en)\n * [ __ ](https://www.facebook.com/GrowOpportunity)\n * [ __ ](https://www.instagram.com/growopportunity)\n * [ __ ](https://www.linkedin.com/company/grow-opportunity)\n\n* * *\n\n__\n\n\u00a9 Copyright 2025 [ Annex Business Media ](https://www.annexbusinessmedia.com\n\"Annex Business Media\")\n\n \n \n\nWe are using cookies to give you the best experience on our website. \nBy continuing to use the site, you agree to the use of cookies. To find out\nmore, read our [ privacy policy ](https://www.annexbusinessmedia.com/privacy-\npolicy/) .\n\n",
"url": "https://www.growopportunity.ca/cronos-group-reports-2024-third-quarter-results/"
},
"reason": "This article from Grow Opportunity explicitly mentions The Cronos Group and reports on their third-quarter results for 2024. Grow Opportunity is a reputable source for cannabis industry news, providing factual reporting, although with a potential industry-specific bias.",
"reliability_score": 0.8,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "Grow Opportunity reports on The Cronos Group's third-quarter results for 2024.",
"url": "https://www.growopportunity.ca/cronos-group-reports-2024-third-quarter-results/"
},
{
"content": {
"metadata": {
"ext_id": "d681288b-b534-4132-80e7-b64a123eda33",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://thecronosgroup.com/"
},
"page_content": "Skip to content\n\n## A Global \nCannabinoid Company\n\nCronos Group is an innovative global cannabinoid company committed to building\ndisruptive intellectual property by advancing cannabis research, technology,\nand product development. With a passion to responsibly elevate the consumer\nexperience, Cronos is building an iconic brand portfolio. Cronos\u2019 diverse\ninternational brand portfolio includes Spinach \u00ae , PEACE NATURALS \u00ae and\nLord Jones \u00ae .\n\n[ Explore Brands _arrow_forward_ ](/brands/) Explore Solutions \u2192\n\n# About\n\n## Us\n\n## Mission\n\nBuild brands and create products that enhance experiences\n\n## Vision\n\nTake experiences to new highs\n\n## Values\n\nAt the heart of Cronos are our values. They are the principles that steer our\nactions and define our character. They represent who we are, how we operate,\nand the reputation we aspire to build and maintain within the industry and all\nour stakeholders who help shape it.\n\n## Community\n\nWe believe in building and supporting a fair and equitable industry.\n\n## Fun\n\nWe believe in creating your favorite products through innovation and\nimagination.\n\n## Responsibility\n\nWe believe our products are for adults* (*Adults are those of the legal age of\nconsumption in the relevant jurisdiction).\n\n## Quality\n\nWe believe in elevating industry practices to provide quality products focused\non reliability and transparency.\n\n# The\n\n## Team\n\nOur management team comprises experts in their fields, with a goal to\nestablish the most valuable international cannabis company. They are\npassionate, daring people, driven by quality and integrity, who are determined\nto write history, not read about it.\n\nMike Gorenstein\n\nAnna Shlimak\n\nJeff Jacobson\n\nShannon Buggy\n\nTerry Doucet\n\nArye Weigensberg\n\nAdam Wagner\n\nMike Gorenstein __\n\n# Mike Gorenstein\n\n#### Chairman, President and Chief Executive Officer\n\nMike Gorenstein serves as Cronos Group\u2019s Chairman, President and Chief\nExecutive Officer, he also serves as Chairman of Cronos Group\u2019s Board of\nDirectors. In addition, Mr. Gorenstein is a Co-Founder and passive Member of\nGotham Green Partners. Before joining Cronos, Mike was the Vice President and\nGeneral Counsel at Alphabet Partners, LP, a New York City based multi-strategy\ninvestment management firm, focused on identifying mispriced assets across\nvarious industries, asset classes and geographies. Prior to Alphabet Partners,\nLP, he was a corporate attorney at Sullivan & Cromwell LLP, where he focused\non mergers and acquisitions and capital markets transactions. Mike graduated\nfrom the University of Pennsylvania Law School with a Juris Doctor, the\nWharton School at University of Pennsylvania with a certificate in Business\nEconomics and Public Policy and the Kelley School of Business at Indiana\nUniversity with a Bachelor of Science of Business in Finance.\n\nAnna Shlimak __\n\n# Anna Shlimak\n\n#### Chief Financial Officer\n\nAnna serves as Cronos\u2019 Chief Financial Officer. Anna recently served as the\nCompany\u2019s Chief Strategy Officer and was responsible for managing and\ndirecting the organization\u2019s corporate strategy, investor relations,\ncommunications, government affairs, and information systems departments. Prior\nto joining Cronos, Anna was the Head of Investor Relations at Quest Partners\nLLC, a research-driven alternative investment firm. Anna was responsible for\nbusiness development, investor reporting, marketing, and communication\ninitiatives for the fund. Before that, Anna held a range of roles at the New\nYork Stock Exchange in both the New York and London offices. She received a\nMaster of Business Administration from Columbia Business School and holds a\nBachelor of Science in Economics from The Wharton School at the University of\nPennsylvania.\n\nJeff Jacobson __\n\n# Jeff Jacobson\n\n#### Chief Growth Officer\n\nAs Chief Growth Officer, Jeff leads the Marketing, Innovation, Operations and\nSales team in North America as well as the Consumer Insights and Data\nAnalytics teams for Cronos Group\u2019s global business. Jeff sets the strategy for\nour brands and is responsible for leading our global teams to help execute\nCronos Group\u2019s vision. Jeff previously served as Cronos Group\u2019s General\nManager of Canada and Europe. Before joining Cronos Group, Jeff founded a\nToronto based marketing agency and successfully launched and licensed several\ninnovative software products in the mobile industry. As a co-founder of Peace\nNaturals, Jeff\u2019s expertise and experience in licensing and compliance, new\nbusiness development, project management and resource management help Cronos\nGroup lead in a variety of markets.\n\nShannon Buggy __\n\n# Shannon Buggy\n\n#### Senior Vice President, Global Head of People\n\nShannon serves as the SVP, Global Head of People for Cronos Group where she\nleads HR strategy across the Company\u2019s global operations. Prior to Cronos\nGroup, Shannon was the Senior Vice President of Global Human Resources for\nNielsen where she led HR strategy for Nielsen Media. With over 25 years of\nexperience, Shannon has a proven track record of leading and managing global\nhuman resources teams and driving excellence in talent acquisition,\ndevelopment, retention, employee relations, compensation, benefits, talent\nmanagement and labor relations. Shannon holds a certification as a Senior\nProfessional in Human Resources from the HR Certification Institute. She\ngraduated magna cum laude with a Bachelor of Science degree in Human Resources\nManagement from the Pace University, Lubin School of Business.\n\nTerry Doucet __\n\n# Terry Doucet\n\n#### General Counsel and Corporate Secretary\n\nTerry Doucet serves as Cronos Group\u2019s General Counsel and Corporate Secretary.\nIn this capacity, he manages all legal and regulatory affairs at Cronos Group\nand also serves as the Company\u2019s Corporate Secretary. Prior to joining Cronos,\nTerry was a corporate lawyer at Davies Ward Phillips & Vineberg LLP in\nToronto, where he focused primarily on M&A in large, complex and cross-border\ntransactions across numerous industries, as well as securities, corporate\nfinance and lending transactions. During that time, Terry was also seconded to\nRBC Capital Markets, where he supported the bank\u2019s derivative trading desks.\nTerry is an Ontario-qualified lawyer, holding a Juris Doctor from the\nUniversity of Toronto and a joint honours (first class) Bachelor of Arts\ndegree from McGill University in Montreal.\n\nArye Weigensberg __\n\n# Arye Weigensberg\n\n#### Head of Research and Development\n\nAs Head of Research and Development, Arye is responsible for leading Cronos\u2019\ninnovation program, where he oversees research and technology functions, and\nleads scientific efforts to unlock the potential of rare cannabinoids. Before\njoining Cronos, Arye was the CEO of Altria Israel Ltd, an Altria research and\ndevelopment innovation hub. Arye joined Altria as part of its acquisition of\nGreen Smoke, where he was the Director of Marketing and Brand Management.\nPrior to Green Smoke, Arye held a variety of roles in brand management and\nmarketing, supporting food brands such as Manischewitz, Lawry\u2019s, Ragu, Knorr\nand Country Crock. Arye graduated from Concordia University\u2019s John Molson\nSchool of Business with a Bachelor of Commerce in Marketing and International\nBusiness.\n\nAdam Wagner __\n\n# Adam Wagner\n\n#### SVP, Head of Cronos Israel\n\nAdam Wagner serves as Senior Vice President, Head of Cronos Israel. Adam\noversees the business and strategy of Cronos Israel. Before he was appointed\nas Head of Cronos Israel, he was the VP of Finance at Cronos Israel where he\noversaw the regional Israel finance department, including FP&A,\ncontrollership, audit, treasury, tax, as well as IT, supply chain and\nprocurement . Before joining Cronos, Adam worked as a Director of Finance at\nMotus GI, a publicly traded medical device company, where he oversaw the\nIsrael-based finance department. Before that, Adam was a Finance Manager at\nMedtronic, a publicly traded medical equipment manufacturer, where he oversaw\nthe Israel-based finance department functions. Prior to Medtronic\u2019s\nacquisition, he was the Corporate Controller for Mazor Robotics, a dual-listed\npublic medical device company. Adam began his career as a Senior Auditor at EY\nwhere he managed a team that performed audits for various publicly traded and\nprivate companies. Adam also serves as a Finance expert on an advisory board\nfor a wellness and healthcare start-up. Adam is a CPA (Israel) and studied\nAccounting at Bar-Ilan University. Adam also holds a Bachelor\u2019s Degree in\nScience of Nutrition and his Master of Science in Genetics and Biochemistry\nfrom Tel Aviv University.\n\n\u00a9 2025 The Cronos Group. All rights reserved.\n\n[ Facebook ](https://www.facebook.com/cronosgroupoffical) [ X-twitter\n](https://twitter.com/cronosgroup) [ Linkedin\n](https://www.linkedin.com/company/cronos-group-cron/?viewAsMember=true)\n\n\u00a9 2024 The Cronos Group. All rights reserved.\n\nFacebook X-twitter Linkedin\n\n",
"url": "https://thecronosgroup.com/"
},
"reason": "This is the official website of The Cronos Group. Official company websites are the most reliable source for information about the company itself.",
"reliability_score": 1.0,
"search_query": "company 'The Cronos Group' supply chain human rights",
"summary": "This is the official website of The Cronos Group.",
"url": "https://thecronosgroup.com/"
}
],
"time_tracker": {
"company_id_card_creation": {
"end": 1745501081,
"start": 1745501077
},
"company_website_content_extraction": {
"end": 1745501077,
"start": 1745501076
},
"global": {
"end": 1745501531,
"start": 1745501063
},
"public_sources_embedding": {
"end": 1745501475,
"start": 1745501378
},
"public_sources_extraction": {
"end": 1745501378,
"start": 1745501221
},
"public_sources_search": {
"end": 1745501221,
"start": 1745501081
},
"rag_iros": {
"end": 1745501531,
"start": 1745501489
},
"rag_value_chain": {
"end": 1745501489,
"start": 1745501475
},
"website_crawling": {
"end": 1745501076,
"start": 1745501064
}
},
"value_chain_items": [
{
"description": "The Cronos Group fosters innovative entrepreneurship by supporting individuals in developing their ideas into viable businesses. This involves providing resources, mentorship, and a collaborative environment, contributing to economic growth and job creation. This focus aligns with ESG principles by promoting sustainable business practices and fostering a culture of innovation.",
"name": "Innovative Entrepreneurship",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Service"
},
{
"description": "The Cronos Group acts as an early-stage investor, providing capital and resources to promising startups. This investment supports the development of innovative technologies and business models, driving economic growth and creating new opportunities. This activity aligns with ESG principles by promoting sustainable innovation and responsible investment practices.",
"name": "Early Stage Investment",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Procurement"
},
{
"description": "The Cronos Group operates incubator programs that nurture early-stage companies by providing them with resources, mentorship, and access to networks. This support helps startups develop their business models and scale their operations, fostering innovation and economic growth. This aligns with ESG principles by promoting sustainable business practices and responsible innovation.",
"name": "Incubator Programs",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Technology Development"
},
{
"description": "The Cronos Group offers integration services to help businesses implement new technologies and solutions. This involves assessing client needs, designing customized solutions, and providing ongoing support to ensure successful implementation. This aligns with ESG principles by promoting efficient resource utilization and sustainable business practices within The Cronos Group.",
"name": "Integration Services",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Operations"
},
{
"description": "The Cronos Group invests in venture capital to support the growth of innovative companies. This involves identifying promising investment opportunities, conducting due diligence, and providing capital to help companies scale their operations. This aligns with ESG principles by promoting sustainable innovation and responsible investment practices within The Cronos Group.",
"name": "Venture Capital Investments",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Procurement"
},
{
"description": "The Cronos Group focuses on developing technology professionals by providing training, mentorship, and opportunities for growth. This involves creating a supportive work environment, promoting continuous learning, and fostering a culture of innovation. This aligns with ESG principles by investing in human capital and promoting sustainable workforce development within The Cronos Group.",
"name": "Technology Professionals Development",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "HR Management"
},
{
"description": "The Cronos Group integrates creative sector professionals to bridge the gap between business and IT, ensuring optimal solutions for customers. This involves fostering collaboration, promoting innovation, and leveraging diverse skill sets to deliver value. This aligns with ESG principles by promoting diversity and inclusion within The Cronos Group's workforce.",
"name": "Creative Sector Integration",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* plan and implement projects throughout their lifecycles for supply chain and operations * developing and distributing various technical documents such as work instructions and procedures related to operations and supply chain * taking the lead on operations and supply chain tasks for new product launches and process improvements",
"metadata": {
"ext_id": "1ad0cf5a-3851-42b9-b9f7-991a9cc0f1ab",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://jobs.jobvite.com/cronosgroup/job/ofIyvfwK"
}
}
],
"type": "Operations"
},
{
"description": "The Cronos Group translates scientific research on new technologies into business solutions, acting as a catalyst for innovation. This involves identifying promising research, developing commercial applications, and bringing new products to market. This aligns with ESG principles by promoting sustainable innovation and responsible technology development within The Cronos Group.",
"name": "Scientific Research Translation",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Technology Development"
},
{
"description": "The Cronos Group continuously seeks creative, driven individuals and welcomes innovative ideas from potential entrepreneurs. This involves attracting top talent, providing opportunities for growth, and fostering a culture of innovation. This aligns with ESG principles by investing in human capital and promoting sustainable workforce development within The Cronos Group.",
"name": "Talent Acquisition",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "HR Management"
},
{
"description": "The Cronos Group emphasizes corporate governance to ensure transparency, accountability, and ethical business practices. This involves establishing clear policies, promoting responsible decision-making, and maintaining compliance with regulations. This aligns with ESG principles by promoting ethical conduct and sustainable business practices within The Cronos Group.",
"name": "Corporate Governance",
"sources": [
{
"document": "secondary research was mainly conducted to obtain critical information about the industry\u2019s supply chain, the total pool of key players, and market classification & segmentation according to the industry trends to the bottom- most level and geographical markets. it was also used to obtain information about the key developments from a market-oriented perspective. ## primary research",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "* top-down approach: * the key industry and market players were identified through extensive secondary research. * the industry's supply chain and market size were determined through primary and secondary research. * all percentage share splits and breakdowns were determined using secondary sources and verified through primary sources.",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "human and ai powered market intelligence [ find untapped markets ](/knowledgestore/ksnew.asp?reportid=201768301) report code fb 6762 published on aug, 2022 [ __ request free sample report ](/requestsamplenew.asp?id=201768301) choose license type __ __ [ buy now ](/purchase/purchase_reportnew.asp?id=201768301)",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "custom market research services we will customize the research for you, in case the report listed above does not meet with your exact requirements. our custom research will comprehensively cover the business information you require to help you arrive at strategic and profitable business decisions. [ ](/requestcustomizationnew.asp?id=201768301) ## instant answers with gpt - ask now!",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
},
{
"document": "x [ ](/requestcustomizationnew.asp?id=201768301) [ speak to analyst or face-to-face meeting ](/speaktoanalystnew.asp?id=201768301) personalize this research * triangulate with your own data * get data as per your format and definition * gain a deeper dive on a specific application, geography, customer or competitor * any level of personalization",
"metadata": {
"ext_id": "bca63a6a-19d3-45c8-9207-964e4382a9cf",
"origin": "public",
"resource_location": "web",
"resource_type": "webpage",
"source": "https://www.marketsandmarkets.com/Market-Reports/cannabis-market-201768301.html"
}
}
],
"type": "Firm Infrastructure"
}
]
}