TORONTO, Feb. 27, 2017 /CNW/ - Cronos Group Inc., formerly
PharmaCan Capital Corp., (TSX VENTURE: MJN) ("Cronos Group" or "the
Company"), is excited to announce the Company's recent recognition
as the top performer in the 2017 TSX Venture 50, an award reserved
for the best performing publically traded companies on the TSX
Venture Exchange over the past year. Cronos Group delivered the
highest stock price appreciation in the Diversified Industries
sector and has continued this momentum into 2017.
"This recognition is validation for our shareholders as we
continue on our mission of building industry leading companies that
transform the perception of cannabis. Our goal is to
establish the most valuable cannabis community in the world
comprised of both internal and external stakeholders who are
determined to write history, not read about it. As we
continue to grow on a global scale, I am confident that we can
continue this success as we look to secure our role as a market
leader and innovator in the industry," says Mike Gorenstein, Cronos Group's CEO.
The TSX Venture 50 is a ranking of the top ten performing
companies from each of the five industry sectors including Clean
Technology and Life Sciences, Diversified Industries, Mining, Oil
& Gas, and Technology. The award is given to companies that
have shown results in key measures of market performance based on
three equally weighted criteria: market capitalization growth,
share price appreciation and trading volume.
Concurrent to this news, the Company is pleased to announce the
completion of the official name change of the Company to "Cronos
Group Inc.," which was approved by shareholders at the special
meeting of shareholders held on Friday.
The common shares of the Company will begin trading under the
new name on the TSX-V once all regulatory requirements have been
satisfied. The Company will continue to trade under the symbol
"MJN" on the TSX-V.
About The Cronos Group
Cronos Group, is a geographically diversified and vertically
integrated cannabis company that operates two wholly-owned Licensed
Producers ("LPs") regulated within Health Canada's Access to
Cannabis for Medical Purposes Regulations (the "ACMPR") and holds a
portfolio of minority investments in other Licensed Producers and
ACMPR applicants. The Company's flagship LPs, Peace Naturals
Project Inc. (Ontario), and In The
Zone Produce Ltd. (British
Columbia) are collectively situated on over 125 acres of
agricultural land and are currently licensed to produce 2,600 kg of
cannabis on an annual basis. The Company also holds minority equity
positions in Licensed Producers Whistler Medical Marijuana,
Hydropothecary, and Abcann Medicinals. With interest in five
Licensed Producers and two LP applicants, Cronos Group is focused
on building an iconic brand portfolio, providing patients with
compassionate and personalized care, and creating value for our
shareholders.
Forward-looking statements
This news release may contain "forward-looking information" and
"forward-looking statements" within the meaning of applicable
Canadian securities legislation. All information contained herein
that is not clearly historical in nature may constitute
forward-looking information. Forward-looking statements are
necessarily based upon a number of estimates and assumptions that,
while considered reasonable by management, are inherently subject
to significant business, economic and competitive risks,
uncertainties and contingencies that may cause actual financial
results, performance or achievements to be materially different
from the estimated future results, performance or achievements
expressed or implied by those forward-looking statements and the
forward-looking statements are not guarantees of future
performance. Except as required by law, the Company disclaims any
obligation to update or revise any forward-looking statements.
Readers are cautioned not to put undue reliance on these
forward-looking statements. This news release contains information
obtained by the Company from third parties and believes such
information to be accurate but has not independently verified such
information.
Neither the TSX Venture Exchange nor its Regulation Services
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
For more information, please visit www.thecronosgroup.com.
SOURCE Cronos Group Inc.