Cronos Group Announces Completion of Continuance to British Columbia
July 09 2020 - 4:30PM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group”
or the “Company”) announces that, effective today, the Company has
continued from the laws of the Province of Ontario to the laws of
the Province of British Columbia (the “Continuance”).The
Continuance was approved by shareholders of the Company at the
Company’s 2020 Annual and Special Meeting of Shareholders held on
June 25, 2020.
The British Columbia corporate statute provides
additional flexibility, including with respect to the composition
of the board of directors of the Company (the “Board”) by virtue of
the absence of a Canadian residency requirement for members of the
Board. This will allow the Company to consider Board candidates
from a larger pool of candidates to ensure the Board maintains the
right composition, skills, expertise and diversity to drive
long-term value.
About Cronos GroupCronos Group
is an innovative global cannabinoid company with international
production and distribution across five continents. Cronos Group is
committed to building disruptive intellectual property by advancing
cannabis research, technology and product development. With a
passion to responsibly elevate the consumer experience, Cronos
Group is building an iconic brand portfolio. Cronos Group’s
portfolio includes PEACE NATURALS™, a global wellness platform, two
adult-use brands, COVE™ and Spinach™, and two hemp-derived CBD
brands, Lord Jones™ and PEACE+™. For more information about Cronos
Group and its brands, please visit: www.thecronosgroup.com.
Forward-looking StatementsThis
press release may contain information that may constitute
“forward-looking information” or “forward-looking statements”
within the meaning of applicable Canadian and U.S. securities laws
(collectively, “Forward-looking Statements”). All information
contained herein that is not clearly historical in nature may
constitute Forward-looking Statements. In some cases,
Forward-looking Statements can be identified by the use of
forward-looking terminology 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 build an international iconic brand
portfolio and develop disruptive intellectual property and the
anticipated benefits of the Continuance. 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,
financial results, 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 Annual Report on Form
10-K for the year ended December 31, 2019 (as amended), the
Company's Quarterly Report on Form 10-Q for the period ended March
31, 2020 and the Company’s definitive proxy statement dated April
28, 2020, all of which have been filed on SEDAR and EDGAR and can
be accessed at www.sedar.com and www.sec.gov/edgar, respectively.
Any Forward-looking Statement included in this press release is
made as of the date of this press release and, except as required
by law, Cronos Group disclaims any obligation to update or revise
any Forward-looking Statement. Readers are cautioned not to put
undue reliance on any Forward-looking Statement.
Cronos Group ContactAnna
ShlimakTel: (416) 504-0004investor.relations@thecronosgroup.com
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