TORONTO, May 2, 2017 /CNW/ - Cronos Group Inc. (TSXV:MJN)
("Cronos" or the "Company") is pleased to announce that following a
comprehensive audit, the Company's wholly owned licensed producer
("LP"), the Peace Naturals Project Inc. ("Peace"), has been issued
a Good Manufacturing Practice ("GMP") certification in accordance
with the rules governing medicinal products in the European Union.
This GMP certification enables Peace to distribute medical cannabis
across the European Union as additional markets come on-line.
The comprehensive GMP review was conducted by German regulators
and health inspectors from the European Union and included the
additional certification of Peace's newest purpose-built
production infrastructure. The European GMP certification is one of
the highest standards a pharmaceutical manufacturer can meet for
medicinal products, and indicates an adherence to detailed
guidelines that extend well beyond the current Health Canada
requirements for ACMPR licensed producers.
"This is an incredible milestone that further differentiates
Peace as an industry leader focused on setting the international
gold standard. As a GMP certified LP, Peace is uniquely situated to
capitalize on our first mover advantage and reaffirm our position
as a leader in the space by extending our global distribution
network. Two continents down, four to go," said Mike Gorenstein, Chief Executive Officer of
Cronos.
About 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. 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 Whistler
Medical Marijuana and other Licensed Producers. Cronos Group
is focused on building an international 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, Cronos Group 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 Cronos Group from third parties. Cronos Group 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.