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Thursday, August 11, 2022

The Exciting Rise of Cronos Group Inc (NASDAQ: CRON)

Cronos Group Inc (NASDAQ: CRON) has been on the rise again in recent weeks making another explosive move upwards. CRON is one of the most exciting companies in the cannabis space which has been on a tear as we near October 17.

Cronos operates in the red hot cannabis market responsible for many of the hottest stocks and biggest winners in small caps. This is a booming sector as legal marijuana sales are expected to grow to more than $20 billion by 2022 according to Marijuana Business Daily. As October 17 looms closer Canadian MJ stocks have been heating up big time.

Cronos Group Inc (TSE: CRON) (NASDAQ: CRON) bills itself as 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, Poland, 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.

Cronos Group operates two wholly owned licensed producers and sellers of medical cannabis pursuant to the provisions of the Controlled Drugs and Substances Act(“CDSA”) and its relevant regulation, the Access to Cannabis for Medical Purposes Regulations(“ACMPR”), namely Peace Naturals Project Inc. which has production facilities near Stayner, Ontario, and Original BC Ltd. (“OGBC”), which has a production facility in Armstrong, British Columbia.

Cronos owns 100% of Peace Naturals, a company licensed to produce and sell medical marijuana as well as cultivate cannabis oil, acting under the authority of a license issued by Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulation (ACMPR). Located in Simcoe County, Ontario, Peace Naturals has 95 acres of land.

Cronos owns 100% of Original BC (OGBC), a company that is currently licensed to cultivate and sell medical marijuana, acting under the authority of a license issued by Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulation (ACMPR). OGBC is located on 31 acres of land in the heart of the Okanagan Valley, British Columbia.

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The Company also owns an interest in Whistler Medical Marijuana Company (WMMC), a company licensed to produce and sell medical marijuana as well as cultivate cannabis oil, acting under the authority of a license issued by Health Canada pursuant to the Access to Cannabis for Medical Purposes Regulation (ACMPR). WMMC is certified organic by the Fraser Valley Organic Producers Association.

Earlier this week Cronos and Massachusetts-based Ginkgo Bioworks said they would partner to produce cultured cannabinoids, which they believe have multiple medical uses, including for the treatment of chronic pain and nausea.

On August 29 CRON announced it has entered into a joint venture agreement with an affiliate of Agroidea SAS, Colombia’s leading agricultural services provider with over 30 years of research, development and production operations. This partnership establishes a newly formed entity, NatuEra S.à r.l. in Colombia that will develop, cultivate, manufacture and export cannabis-based medicinal and consumer products for the Latin American and global markets.

NatuEra plans to develop its initial cultivation and manufacturing operations with a custom-built facility on 207 acres of available land located in Cundinamarca, Colombia. To take full advantage of Colombia’s strategic positioning in the Latin American and global markets, the state-of-the-art facility is expected to be designed to meet GAP and GMP requirements and standards for cultivation, extraction, manufacturing and export activities. NatuEra intends to become the world’s leading production platform for premium quality, certified cannabis and cannabinoid-derived products, creating the cannabis industry’s first Contract Manufacturing Organization (“CMO”) in Latin America.

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Currently trading at a $1.8 billion market valuation CRON has $89 million $CAD in the treasury, manageable debt and fast growing revenues reporting $6,339,000 in sales for the 6 months ended June 30, 2018 up from $1,157,000 for the same period last year. CRON is a geographically diversified and vertically integrated cannabis company that operates two wholly-owned Licensed Producers holds a commanding position in the Canadian cannabis industry. There is huge demand for CRON here and the next few weeks should be very exciting as we get closer to legal recreational cannabis on October 17. We will be updating on CRON when more details emerge so make sure you are subscribed to Microcapdaily so you know what’s going on with CRON.

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Disclosure: we hold no position in CRON either long or short and we have not been compensated for this article.

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