Wednesday, October 8, 2025

Latest

Cronos Group Announces 10.5% Investment Into US Operator PharmaCann

It appears that rules pertaining to ownership of US cannabis operations are loosening at the TSX Exchange and US big boards. Cronos Group (TSX: CRON) this morning announced that it has entered into an arrangement whereby a wholly owned subsidiary has acquired the option to purchase a stake in US operator PharmaCann.

The transaction will see Cronos, via a subsidiary, acquire an option to purchase a 10.5% ownership stake in PharmaCann, a multi-state operator. Much like Canopy Growth’s arrangement with Acreage Holdings, the final exercise of the option is to be dependent upon US federal legalization.

PharmaCann currently has six production facilities and 23 dispensaries within six states. The states, which include New York, Illinois, Maryland, Pennsylvania, Ohio and Massachusetts, are limited license states.

Under the terms of the transaction, Cronos paid $110.4 million to acquire the option in PharmaCann, which is to be paid directly to PharmaCann shareholders. Commercial agreements are expected to be entered into later this year that will see the two parties allowed to offer products through either party’s distribution channels. Cronos is also to be permitted to elect one director of PharmaCann once the option is exercised.

Notably, Michael Gorenstein, whom is executive chairman of Cronos, as well as Jason Adler, a director of Cronos, hold an indirect state in PharmaCann via their interest in Gotham Green Partners, whom is a shareholder of PharmaCann.

Cronos Group last traded at $10.82 on the TSX.


Information for this briefing was found via Sedar and Cronos Group. The author has no securities or affiliations related to these organizations. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Video Articles

Fortune Bay: The Potential Billion Dollar Project

Japan Gold Enters New Chapter as Barrick Alliance Concludes – John Proust

Barrick Mining’s “Company Defining [Gold] Discovery”

Recommended

Nord Precious Metals Produces High Grade Silver Concentrate From Tailings

ESGold Secures $9 Million In Non-Dilutive Funding From Ocean Partners

Related News

Cronos Group Begins Commercial Production Of CBG Under Modified Ginkgo Agreement

Cronos Group (TSX: CRON) (NASDAQ: CRON) this morning announced that it has amended its collaboration...

Friday, June 4, 2021, 07:50:22 AM

Cronos Group Reports Revenues of $10.2 Million For Second Quarter

Cronos Group (TSX: CRON) (NASDAQ: CRON) announced its second quarter financials this morning, reporting net...

Thursday, August 8, 2019, 10:15:19 AM

PI Financial, Canaccord Revise Cronos Group Estimates Downward Following Q3 Results

Last week, Cronos Group (TSX: CRON) (NASDAQ: CRON) reported its third quarter 2020 results. The...

Sunday, November 8, 2020, 11:39:00 AM

Canadian Cannabis: Canaccord Lifts Cronos Target, Reiterates Canopy Growth And Tilray Ratings

Yesterday Canaccord Genuity Capital Markets put out a second-quarter preview note on the top Canadian...

Thursday, July 28, 2022, 03:02:00 PM

Cronos Group Jumps On Rumor Of Acquisition Talks With Curaleaf

Cronos Group (TSX: CRON) jumped as much as 20% in mid-day trading today following the...

Thursday, July 6, 2023, 03:26:20 PM