Q1 2018 total sales of $2.9 million, up 473% year over year
Cannabis oil sales represent 29% of domestic medical patient revenue in Q1 2018
TORONTO, May 15, 2018 /PRNewswire/ - Cronos Group Inc. (NASDAQ, TSX-V: CRON) ("Cronos Group" or the "Company") today announced financial results for the
"We are pleased that the strategic initiatives launched in 2017 are coming to fruition," said Mike Gorenstein, CEO of Cronos Group. "2017 was a building block year which set the groundwork and foundation for the results achieved in the first quarter. Cronos is focused on continuing to increase capacity in order to serve existing distribution and newly established markets, developing intellectual property and launching recreational brands."
First Quarter 2018 Highlights
Highlights Subsequent to First Quarter 2018
Conference CallThe Company will host a conference call on Tuesday, May 15, 2018 at 8:00 a.m. EST to discuss first quarter 2018 results. The call will last approximately one hour. Instructions for the conference call are provided below:
Conference ID: 6517419Toll-free dial-in number: (888) 231-8191International dial-in number: (647) 427-7450
Additionally, an audio replay of the conference call will be available two hours after the call's completion and until 11:59 p.m. EST on May 29, 2018. Instructions for the audio replay are provided below:
Toll-free dial-in number: (855) 859-2056 Passcode: 6517419
About Cronos GroupCronos 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. (British Columbia), which is based in the Okanagan Valley. The Company has multiple international production and distribution platforms including Germany, Israel and Australia. The Company is rapidly expanding its global footprint as it focuses on building an international iconic brand portfolio and developing 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 statementsThis 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. 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. 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.
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SOURCE Cronos Group Inc.
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