Full Press Release Details
Cronos Group Inc. Announces First Quarter 2018 Results
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 /CNW/ - Cronos Group Inc. (NASDAQ, TSX-V:
CRON) ("Cronos Group" or the "Company") today announced financial results for the first
quarter ended March 31, 2018.
"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
First Quarter 2018 Highlights
Highlights Subsequent to First Quarter 2018
The 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: 6517419
Toll-free dial-in number: (888) 231-8191
International 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
Toll-free dial-in number: (855) 859-2056
Cronos 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 statements
This 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
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
SOURCE Cronos Group Inc.
View original content with multimedia: http://www.newswire.ca/en/releases/archive/May2018/15/c4560.html
For further information: Mike Gorenstein; Chief Executive
Officer; Tel: (416) 504-0004; investor.relations@thecronosgroup.com
CO: Cronos Group Inc.
CNW 07:00e 15-MAY-18