/THIS NEWS RELEASE IS INTENDED FOR DISTRIBUTION IN
CANADA ONLY AND IS NOT FOR
DISTRIBUTION TO UNITED STATES
NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES/
This news release does not constitute an offer to sell or a
solicitation of an offer to buy 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.
TORONTO, Nov. 8, 2017 /CNW/ - Cronos Group Inc. (TSX-V:
MJN) (OTC – Nasdaq Int'l Designation: PRMCF) ("Cronos
Group") is pleased to announce that it has closed its
previously announced bought deal public offering, including the
full exercise of the over-allotment option. As such, a total
of 5,476,190 common shares of Cronos Group (the "Shares")
were sold at a price of $3.15 per
Share for aggregate gross proceeds of approximately $17.2 million (the "Offering").
The Offering was underwritten by a syndicate led by PI Financial
Corp. as sole bookrunner and which included Canaccord Genuity
Corp.
Cronos Group intends to use the net proceeds of the Offering for
expanding production capacity at its wholly-owned Licensed Producer
Peace Naturals Project Inc., developing infrastructure for
distribution, research and development initiatives, and for general
working capital purposes.
The Shares were offered by way of a short form prospectus filed
by Cronos Group in each of the provinces of Canada, excluding the province of Québec,
pursuant to National Instrument 44-101 - Short Form Prospectus
Distributions. The securities that were sold have not been, nor
will they be, registered under the U.S. Securities Act, and were
not offered or sold in the United
States or to, or for the account or benefit of, U.S. persons
absent registration or an applicable exemption from the
registration requirements.
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 and holds a portfolio of
minority investments in other Licensed Producers. The Company's
flagship LPs, Peace Naturals Project Inc. (Ontario) and Original BC 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 of Cronos Group, are
inherently subject to significant business, economic and
competitive risks, uncertainties and contingencies that may cause
actual financial results, performance or achievements of Cronos
Group 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.
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.