/NOT FOR DISSEMINATION IN THE UNITED
STATES OR THROUGH UNITED
STATES NEWSWIRE SERVICES/
TORONTO, Sept. 18, 2017 /CNW/ - Further to its press
release on September 14, 2017, Cronos
Group Inc. ("Cronos" or the "Company") (TSX Venture:
MJN) (OTC – Nasdaq International Designation: PRMCF) is pleased to
announce that, due to increased investor demand, the Company is
increasing its previously announced non-brokered private placement,
from total gross proceeds of up to $10,000,000 to total gross proceeds of up to
$15,000,000 (the
"Offering"). The Offering will now consist of up to
6,666,667 common shares (the "Offered Shares") at a price of
$2.25 per Offered
Share.
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.