/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES/
TORONTO, Sept. 14, 2017 /CNW/ - Cronos Group Inc.
("Cronos" or the "Company") (TSX Venture: MJN) (OTC –
Nasdaq International Designation: PRMCF) is pleased to announce
that it expects to issue, by way of a non-brokered private
placement, up to 4,444,444 common shares (the "Offered
Shares") at a price of $2.25 per
Offered Share for total gross proceeds of up to $10,000,000 (the "Offering").
The net proceeds from the Offering will primarily be used for
working capital and general corporate purposes and to fund the
continued expansion of the Company's production capacity. The
Offered Shares will be subject to a statutory hold period lasting
four months and one day following the Closing Date (as defined
below). Closing of the Offering is expected to occur on or
about September 22, 2017 (the
"Closing Date"). The Offering is subject to certain
conditions including, but not limited to, the receipt of all
necessary regulatory and stock exchange approvals, including the
approval of the TSX Venture Exchange, and such further restrictions
as may apply under foreign securities laws.
This news release does not constitute an offer to sell or a
solicitation of an offer to sell any of the securities in the
United States. The securities have not been and will not be
registered under the United States Securities Act of 1933, as
amended (the "U.S. Securities Act") or any state securities laws
and may not be offered or sold within the
United States or to U.S. Persons unless registered under the
U.S. Securities Act and applicable state securities laws or an
exemption from such registration is available.
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, licensed
land. 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.
SOURCE Cronos Group Inc.