- Leading the industry forward as the first pure-play cannabis company to trade on the Nasdaq
- Canada set to legalize recreational cannabis
- Positioned for growth throughout the international medical marijuana market
Cronos Group Inc. (NASDAQ: CRON) (TSX.V: MJN), a Toronto-based medical marijuana company, is the first pure-play cannabis company to trade on the Nasdaq. This transition has provided the company with legitimacy and enables investors to better assess CRON’s performance. Listing of CRON on the Nasdaq is a major move for the entire marijuana industry, according to The Motley Fool (http://nnw.fm/8lIhf).
With cannabis deals this year already doubling the total for 2017, and the expected legalization of recreational cannabis use in Canada looming, Cronos has seen sales soar. The company is one of the largest cannabis producers in Canada. It is estimated that the legalization of recreational marijuana use in Canada will generate from $4.2 billion to as much as $12 billion annually. The Canadian Senate is scheduled to vote on the bill to authorize legal use of recreational marijuana by June 7, 2018. If passed, this will make cannabis available for recreational use in late August or early September.
While CRON waits for the forecast growth in Canada, the company has positioned itself for growth throughout the international medical marijuana market. Its operations now touch four continents. With an exclusive distribution agreement, CRON is supplying medical marijuana to Pohl-Boscamp, a company that distributes to over 12,000 pharmacies in Germany. CRON also works with Israel’s Kibbutz Gan Shmuel, through Cronos Israel, developing what will be low-cost, high-quality production, coupled with efficient distribution, to meet worldwide demand. In addition, a joint venture with NewSouthern Capital PTY Ltd. was recently launched to market products to Australia, New Zealand and Southeast Asia. The company holds wholly-owned subsidiaries Peace Natural and Original BC, with a partial ownership of Whistler Medical Marijuana Company.
As the marijuana market changes and grows in 2018, investors should be keeping a close eye on CRON and its partners. Cronos Group is rapidly expanding globally, building an iconic international brand portfolio and developing disruptive intellectual property.
For more information, visit the company’s website at www.TheCronosGroup.com
More from NetworkNewsWire
NetworkNewsWire (NNW) is a financial news and content distribution company that provides (1) access to a network of wire services via NetworkWire to reach all target markets, industries and demographics in the most effective manner possible, (2) article and editorial syndication to 5,000+ news outlets (3), enhanced press release services to ensure maximum impact, (4) social media distribution via the Investor Brand Network (IBN) to nearly 2 million followers, (5) a full array of corporate communications solutions, and (6) a total news coverage solution with NNW Prime. As a multifaceted organization with an extensive team of contributing journalists and writers, NNW 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. By cutting through the overload of information in today’s market, NNW brings its clients unparalleled visibility, recognition and brand awareness. NNW is where news, content and information converge.
For more information, please visit https://www.networknewswire.com
New York, New York