TORONTO, Oct. 4, 2017 /CNW/ - Cronos Group Inc. (TSX-V:
MJN) (OTC – Nasdaq International Designation: PRMCF) ("Cronos
Group" or the "Company") is pleased to announce the
rebranding of In The Zone Ltd. ("ITZ") to Original BC Ltd.
("OGBC"). The name change reflects the Company's strategic
vision in anticipation of the expected legalization of recreational
cannabis throughout Canada in July
of 2018. OGBC will serve as the platform that Cronos will
leverage to launch new brands to serve the international
recreational market. The name change is subject to the filing
of certain applications and is expected to be effective on or about
October 6, 2017.
OGBC is located on 31 acres of land in the Okanagan Valley in
British Columbia and is focused on
quality and integrity, committed to continuing BC's long history of
producing some of the world's finest cannabis. Over the past year,
manufacturing upgrades to the initial pilot facility and
methodology refinements have resulted in substantial increases in
both yields and quality. An on-site artesian well provides a
free source of water (200+ gallon per minute capacity), and local
climate and power costs provide advantages over other Canadian
jurisdictions.
"We have always reiterated the need for a clear distinction
between our medical and recreational platforms as they address
different consumer targets. Each recreational brand we launch
will be positioned to maximize incremental sales across the Cronos
portfolio while maintaining an uncompromising approach to quality,"
said Mike Gorenstein, CEO 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, licensed
land. Cronos Group is focused on building an international iconic
brand portfolio, providing patients with 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.