- Analysts call the listing a milestone for both Cronos Group and the entire cannabis industry
- Michael Gorenstein, CEO of Cronos Group, said that the company is the only ‘pure play’ marijuana company to be traded on a U.S. exchange
- Company has holdings or is involved in joint ventures in Canada, Germany, Israel and Australia
Cronos Group Inc. (NASDAQ: CRON) (TSX.V: MJN), a Toronto-based medical marijuana company, recently began trading on the Nasdaq, uplisting from the Nasdaq International Designation program as an OTC stock to the Nasdaq Global Market and becoming the first Canadian cannabis producer stock to be listed on a major U.S. exchange. Michael Gorenstein, CEO and president of Cronos Group, told CNN, “We’re the only pure play marijuana company,” to be traded on a U.S. exchange (http://cnw.fm/grBX3).
CNN added that the listing was a milestone for both Cronos Group and the entire cannabis industry. Gorenstein said that the company is already exporting marijuana to Germany. It is also building facilities to grow cannabis in Australia and Israel.
Cronos Group holds several wholly-owned subsidiaries. These include 100 percent of Peace Naturals, a company licensed to produce and sell medical marijuana by the Access to Cannabis for Medical Purposes Regulations (“ACMPR”) in Canada. It owns 95 acres of land in Ontario, Canada. Another 100 percent-owned subsidiary is Original BC (“OGBC”), also licensed by ACMPR. It maintains 35 acres of land in British Columbia.
Cronos also owns 21.5 percent of Whistler Medical Marijuana Company (“WMMC”), also licensed by ACMPR to produce and sell medical marijuana and to cultivate cannabis oil.
Additionally, Cronos Group is a partner in a 50-50 joint venture based in Melbourne, Australia. It is also in a strategic joint venture with Kibbutz Gan Shmuel in Israel, which exports medical cannabis to 35 countries throughout Europe and Asia. Plus, it maintains an exclusive supply agreement with Pohl-Boskam, a German pharmaceutical products and medical devices company that distributes products to more than 12,000 German pharmacies.
For more information, visit the company’s website at www.TheCronosGroup.com
More from CannabisNewsWire
About CannabisNewsWire
CannabisNewsWire (CNW) is an information service that provides (1) access to our news aggregation and syndication servers, (2) CannabisNewsBreaks that summarize corporate news and information, (3) enhanced press release services, (4) social media distribution and optimization services, and (5) a full array of corporate communication solutions. As a multifaceted financial news and content distribution company with an extensive team of contributing journalists and writers, CNW is uniquely positioned to best serve private and public companies that desire to reach a wide audience of investors, consumers, journalists and the general public. CNW has an ever-growing distribution network of more than 5,000 key syndication outlets across the country. By cutting through the overload of information in today’s market, CNW brings its clients unparalleled visibility, recognition and brand awareness. CNW is where news, content and information converge.
For more information please visit https://www.CannabisNewsWire.com
Please see full terms of use and disclaimers on the CannabisNewsWire website applicable to all content provided by CNW, wherever published or re-published: http://CNW.fm/Disclaimer
CannabisNewsWire (CNW)
Denver, Colorado
www.CannabisNewsWire.com
303.498.7722 Office
Editor@CannabisNewsWire.net