TORONTO, May 18, 2018 /PRNewswire/ - Cronos Group Inc.
(NASDAQ, TSX-V: CRON) ("Cronos Group" or the
"Company"), a geographically diversified and vertically
integrated cannabis group, announced today it has appointed
Jim Rudyk as lead director and has
entered into an engagement agreement to retain Athena Advisors LLC
("Athena Advisors") as its agency of record for investor
relations and corporate communications.
"Since joining the board, Jim has been an integral part of our
success and we are excited for his continued leadership and
contribution," said Mike Gorenstein,
CEO of Cronos Group. "We are also very pleased to have engaged a
seasoned professional to cultivate our corporate messaging and
present Cronos' story to a broad audience in an effective
manner."
Athena Advisors is based in New York
City and was founded by Anna
Shlimak who spent more than 6 years at the New York Stock
Exchange, where she was responsible for communication and
relationship development with investors and sell side analysts.
Most recently, Shlimak was the Head of Investor Relations at Quest
Partners LLC, a research driven alternative investment firm
comprising more than US$1.5 billion
in assets. Shlimak was responsible for business development,
investor reporting, marketing and communication initiatives. She
received a MBA from Columbia Business
School and holds a Bachelor of Science in Economics from The
Wharton School at the University of
Pennsylvania. Apart from than the provision of investor
relations and corporate communication advisory services, Athena
Advisors has no other relationship or interest in the Company
(other than any stock options issued as consideration for such
services).
Athena Advisors will provide the Company with dedicated investor
relations and corporate communications services for monthly fees of
approximately $17,400 for an initial
term of 3 years. In addition, the Company has granted stock options
to subscribe to an aggregate of 200,000 common shares of the
Company to Athena Advisors as consideration for the investor
relations and corporate communications services which are subject
to the Company's stock option plan with terms further described
below. The fees payable to Athena Advisors for its services
are expected to be paid by the Company with available cash.
Company Grants Options
The Company has granted stock options to subscribe to an
aggregate of 1,195,000 common shares of the Company for certain
directors, officers, consultants (including Athena Advisors), and
employees in accordance with the Company's stock option plan. The
options are exercisable at a price of $7.57 per common share, which was the closing
price of the Company's common shares on the TSX Venture Exchange on
May 17, 2018. The options shall
expire at the earlier of 180 days of the death, disability or
incapacity of the holder, or five years after the date of issue.
The grant of options is subject to the Company receiving all
necessary and appropriate regulatory consents and approvals, if
any, and to the Company's stock option plan.
About Cronos Group
Cronos Group is a globally
diversified and vertically integrated cannabis company with a
presence across four continents. The Company operates two
wholly-owned Canadian licensed producers regulated under Health
Canada's Access to Cannabis for Medical Purposes
Regulations: Peace Naturals Project Inc., which was the
first non-incumbent medical cannabis license granted by Health
Canada, and Original BC Ltd., which is based in the Okanagan
Valley, British Columbia. The
Company has multiple international production and distribution
platforms including in Germany,
Israel and Australia. The Company intends to continue to
rapidly expand its global footprint as it focuses on building an
international iconic brand portfolio and develop disruptive
intellectual property. Cronos Group is committed to building
industry leading companies that transform the perception of
cannabis and responsibly elevate the consumer experience.
Forward-looking statements
This news release contains
"forward-looking information" and "forward-looking statements"
within the meaning of applicable Canadian and U.S. securities laws.
All information contained herein that is not clearly
historical in nature may constitute forward-looking information.
In some cases, forward-looking statements can be identified
by words or phrases such as "may", "will", "expect", "plan",
"anticipate", "intend", "potential", "estimate", "believe" or the
negative of these terms, or other similar expressions intended to
identify forward-looking statements. Some of the forward-looking
statements contained in this press release, include the Company's
intention to continue to rapidly expand its global footprint, build
an international iconic brand portfolio and develop disruptive
intellectual property and the sources of funds for payment of the
fees payable to Athena Advisors. 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. A discussion of some of the material risks
applicable to the Company can be found in the Company's current
MD&A and Annual Information Form, both of which have been filed
on SEDAR and can be accessed at www.sedar.com. The forward-looking
information included in this news release is made as of the date of
this news release and, 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.
All references to "$" are to Canadian dollars unless otherwise
specified.
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.
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SOURCE Cronos Group Inc.