Cronos Group Inc. Announces Results of 2020 Annual and Special Meeting of Shareholders
June 25 2020 - 5:20PM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group”
or the “Company”) announces that at its Annual and Special Meeting
of Shareholders held earlier today (the “Meeting”) there were 652
shareholders voting in person or by proxy holding in total
195,124,634 common shares of the Company, representing 55.94% of
the total number of common shares of the Company outstanding.
Each of the directors listed as a nominee in the
Company’s proxy statement dated April 28, 2020 (the “Proxy
Statement”) was elected as a director of the Company, with each
director receiving in excess of 97.10% of the votes cast in favor
of his or her election. The detailed results of the vote for the
election of directors are as follows:
Name of Director |
Number of Shares Voted For |
Percentage of Shares Voted For |
Number of Shares Withheld from Voting |
Percentage of Shares Withheld from Voting |
Jason Adler |
193,354,556 |
99.09% |
1,770,053 |
0.91% |
Jody Begley |
193,856,442 |
99.35% |
1,268,167 |
0.65% |
Bronwen Evans |
194,087,328 |
99.47% |
1,037,281 |
0.53% |
Murray R. Garnick |
193,889,048 |
99.37% |
1,235,561 |
0.63% |
Michael Gorenstein |
189,608,226 |
97.17% |
5,516,383 |
2.83% |
Heather Newman |
193,842,513 |
99.34% |
1,282,096 |
0.66% |
James Rudyk |
193,366,045 |
99.10% |
1,758,564 |
0.90% |
The Company also announced today that the
shareholders have approved a special resolution authorizing the
Company to make an application for the continuance of the Company
from the laws of the Province of Ontario to the laws of the
Province of British Columbia, as further described in the Proxy
Statement (the “Continuance”). The Company believes the greater
flexibility afforded by the British Columbia corporate statute by
virtue of the absence of a Canadian residency requirement for
members of the board of directors of the Company (the “Board”) 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. The
completion of the Continuance remains subject to the satisfaction
of the conditions described in the Proxy Statement.
Shareholders also approved advisory
(non-binding) resolutions on the compensation of the Company’s
named executive officers, with 97.91% of votes cast in favor of
such resolution, and to hold “say on pay” votes each year. In
addition, shareholders approved an ordinary resolution approving
the Company’s 2020 Omnibus Equity Incentive Plan, with 98.29% of
the votes cast in favor of such resolution, and approved the
re-appointment of KPMG LLP as the Company’s independent
auditors.
For complete results on all matters voted on at
the Meeting, please see the Report of Voting Results filed on the
Company’s SEDAR profile at www.sedar.com and the Company’s Form 8-K
filed on EDGAR at www.sec.gov/edgar.
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, the
Company's plans to complete the Continuance 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) and the Company's Quarterly
Report on Form 10-Q for the period ended March 31, 2020, both 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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