Welcome to our dedicated page for Cronos Group Common Share news (Ticker: CRON), a resource for investors and traders seeking the latest updates and insights on Cronos Group Common Share stock.
Cronos Group Inc. (CRON) is a globally diversified and vertically integrated cannabis company with a significant presence across four continents. Headquartered in Toronto, Canada, Cronos operates two wholly-owned Canadian licensed producers, Peace Naturals Project Inc. based in Ontario, and Original BC Ltd. located in British Columbia's Okanagan Valley. These operations are regulated under Health Canada's Access to Cannabis for Medical Purposes Regulations.
Internationally, Cronos has established production and distribution platforms in Israel and Australia, and through an exclusive distribution agreement, has access to over 12,000 pharmacies in Germany. The company focuses on building an iconic brand portfolio and developing disruptive intellectual property, aiming to be a leader in the global cannabis market.
Cronos's medicinal brand, Peace Naturals, and recreational brands, Cove and Spinach, cater to a wide range of consumers. The company exports medical cannabis primarily to Israel, and in the U.S., it holds an option to acquire 10.5% of U.S. multistate operator PharmaCann upon the easing of federal restrictions.
Recently, Cronos has expanded its footprint in Australia, partnering with Vitura to supply high-quality cannabis products. This milestone is significant as the Australian medical cannabis market has grown impressively, with approvals for new patients increasing each year. Additionally, Cronos's Spinach brand has become a top seller in Canada, particularly in the flower and edibles categories.
With a strong emphasis on R&D, Cronos invests in tissue culture and cannabis genetics breeding programs to ensure premium quality. This commitment has enabled the company to produce high-quality products that meet the growing demand in international markets, including the UK and Germany.
The company is also known for its commitment to responsible cannabis research, technology, and product development. With a focus on advancing consumer experiences, Cronos continues to innovate and expand its product offerings globally.
Cronos Group, a global cannabinoid company, announced that Mike Gorenstein, Executive Chairman, will speak at Canaccord Genuity’s 5th Annual Global Cannabis Conference on May 11, 2021, at 2:30 p.m. EDT. Participants can access the live webcast at thecronosgroup.com. Following the event, a replay will be available. Cronos is focused on developing disruptive intellectual property and building a strong brand portfolio with products like PEACE NATURALS, COVE, and Spinach.
Cronos Group (NASDAQ: CRON) has unveiled a comprehensive Marketing Code aimed at promoting responsible marketing practices in the cannabis industry. This initiative emphasizes that marketing should not target individuals below the legal consumption age. The code will govern all Cronos marketing activities worldwide and is intended to engage both industry peers and policymakers. Key principles include adult-targeted advertising, responsible consumption messaging, and transparency in claims. Cronos Group's leadership believes this initiative is vital for fostering trust in the evolving cannabis market.
Cronos Group recently announced its Q1 2021 results, reporting consolidated net revenue of $12.6 million, a 50% increase from Q1 2020, driven by growth in the Canadian and Israeli markets. Despite increased sales, the company experienced a gross loss of $2.96 million, improved from $6.48 million a year prior. The newly acquired processing license for cannabinoid biosynthesis is a significant achievement, supporting innovative product development. However, adjusted EBITDA loss slightly increased to $37.1 million, reflecting higher marketing and R&D costs.
Cronos Group Inc. (NASDAQ: CRON) will hold its 2021 Annual Meeting of Shareholders on June 25, 2021, at 11:00 a.m. EDT in a virtual format due to COVID-19 health concerns. Shareholders and proxyholders can participate online, ask questions, and vote. The proxy statement with meeting details is available on the Company’s website. A replay of the meeting will be accessible within 24 hours post-event. Cronos Group, a global cannabinoid company, focuses on advancing cannabis research and product development, aiming to enhance consumer experience through a diverse brand portfolio.
Cronos Group Inc. (NASDAQ: CRON) will host its 2021 First Quarter Earnings Conference Call on May 7, 2021, at 8:30 a.m. EDT. The call will allow management to discuss the company's financial results and address questions from investors. A live audio webcast will be available on the company's website, with an archived replay afterward. Cronos Group focuses on cannabinoid production and is building a diverse brand portfolio, including various wellness and hemp-derived CBD brands.
Cronos Group announces the launch of its first brand campaign for the Lord Jones™ brand, named “A Higher Order”, aimed at expanding its market presence in the U.S. This campaign includes out-of-home advertising and television spots featuring new creative assets, which showcase the brand's premium CBD products. The initiative reflects the brand's evolution and commitment to elevating consumer wellness experiences.
The campaign will be celebrated with a live-streamed “Sunday Bath Session” on May 2, 2021.
Cronos Group (NASDAQ: CRON) has announced that its Happy Dance CBD skincare line is now available at over 550 Ulta Beauty locations and online. This marks the brand's first entry into physical retail, enhancing its visibility and accessibility. Happy Dance, co-founded by actress Kristen Bell, features vegan, cruelty-free products, with a portion of profits supporting a Black-owned reentry project. The partnership is highlighted by a dedicated display in Ulta stores, aiming to appeal to a wider audience and promote self-care.
Cronos Group announced its 2020 fourth quarter and full-year results, revealing a net revenue increase of 133% in Q4 2020 compared to Q4 2019, reaching $17.0 million. The company also saw significant growth in the U.S. and Israeli markets. However, a gross loss of $14.9 million was reported, despite a $5.2 million improvement from the previous year. The company holds approximately $1.3 billion in cash and short-term investments. Significant investments in brand expansion include the launch of Happy Dance™ products at ULTA Beauty™, enhancing its portfolio in the U.S. market.
Cronos Group Inc. (NASDAQ: CRON) will host its 2020 Fourth Quarter and Full-year Earnings Conference Call on February 26, 2021, at 8:30 a.m. EST. Senior management will discuss the Company’s financial results, followed by a Q&A session. Investors can tune in via a live audio webcast on the Company’s website. Participants can also listen by phone, with access numbers provided. The Company focuses on innovative cannabinoid products and aims to develop an iconic brand portfolio across five continents.
Cronos Group announced that its CEO, Kurt Schmidt, will present at the 24th Annual CIBC Western Institutional Investor Conference on January 22, 2021, at 4:10 p.m. EST. Investors can access a recording of the presentation in the Investors section of the company’s website. This innovative global cannabinoid company is dedicated to advancing cannabis research, technology, and product development across five continents. Cronos is building a disruptive brand portfolio, including well-known brands like PEACE NATURALS and Lord Jones.
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