Advertisements
Business

Cronos Group Provides Bi-Weekly MCTO Status Update


Breadcrumb Trail Links

Author of the article:

Article content material

TORONTO, Dec. 17, 2021 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Company”) is offering a default standing report in accordance with the choice data pointers set out in National Policy 12-203 – Management Cease Trade Orders (“ NP 12-203 ”).

On November 9, 2021, the Company introduced that it utilized for a administration stop commerce order (“ MCTO ”) with the relevant securities regulatory authorities in Canada on the idea that the Company could be unable to file its Quarterly Report on Form 10-Q for the interval ended September 30, 2021 (the “ Form 10-Q ”) with the U.S. Securities and Exchange Commission (the “ SEC ”), along with its corresponding quarterly filings in Canada (collectively, the “ Required Filings ”), by the relevant submitting deadlines (the “ Original Announcement ”). The MCTO was issued on November 16, 2021 and restricts all buying and selling in securities of the Company, whether or not direct or oblique, by the Chief Executive Officer and Chief Financial Officer of the Company till two full enterprise days following the submitting of the Required Filings and the MCTO has been revoked. The MCTO doesn’t have an effect on the flexibility of different shareholders of the Company to commerce their securities.

Advertisements

This commercial has not loaded but, however your article continues under.

Article content material

The Company’s administration continues to work diligently to finish the Required Filings and now anticipates, however can not guarantee, that the Required Filings might be filed by January 31, 2022.

The Company confirms that for the reason that date of the Original Announcement: (i) aside from as described above, there was no materials change to the data set out within the Original Announcement that has not been usually disclosed; (ii) there was no failure by the Company in fulfilling its said intentions with respect to satisfying the provisions of the choice data pointers set out in NP 12-203; (iii) there has not been some other specified default by the Company below NP 12-203; and (iv) there is no such thing as a different materials data in regards to the affairs of the Company that has not been usually disclosed.

This commercial has not loaded but, however your article continues under.

Advertisements

Article content material

The Company confirms it can proceed to fulfill the provisions of the choice data pointers set out in NP 12-203 as long as it stays in default of the requirement to file the Required Filings.

About Cronos Group Inc.
Cronos Group is an revolutionary international cannabinoid firm with worldwide manufacturing and distribution throughout 5 continents. Cronos Group is dedicated to constructing disruptive mental property by advancing hashish analysis, know-how and product improvement. With a ardour to responsibly elevate the patron expertise, Cronos Group is constructing an iconic model portfolio. Cronos Group’s portfolio contains PEACE NATURALS™, a world wellness platform, two adult-use manufacturers, COVE™ and Spinach™, and three U.S. hemp-derived CBD manufacturers, Lord Jones™, Happy Dance™ and PEACE+™. For extra details about Cronos Group and its manufacturers, please go to: thecronosgroup.com.

This commercial has not loaded but, however your article continues under.

Article content material

Forward-Looking Statements
This information launch incorporates “forward-looking information” and “forward-looking statements” inside the which means of relevant Canadian and U.S. securities legal guidelines (collectively, “Forward-looking Statements”). All data contained herein that isn’t clearly historic in nature could represent Forward-looking Statements. Some of the Forward-looking Statements contained on this press launch embody the period of the MCTO and the Company’s skill to finish the Required Filings and proceed to fulfill the data pointers set out in NP 12-203. Forward-looking Statements are essentially primarily based upon quite a lot of estimates and assumptions that, whereas thought of affordable by administration, are inherently topic to important enterprise, financial and aggressive dangers, uncertainties and contingencies that will trigger the precise submitting time of the Required Filings to be materially totally different from the estimated future submitting time or stop us from complying with the necessities of NP 12-203 and the Forward-looking Statements aren’t ensures of future efficiency. A dialogue of a few of the materials dangers relevant to the Company may be discovered within the Company’s Annual Report on Form 10-Ok for the yr ended December 31, 2020, the Company’s Quarterly Report on Form 10-Q for the interval ended March 31, 2021 and the Company’s Quarterly Report on Form 10-Q for the interval ended June 30, 2021, every of which have been filed on SEDAR and EDGAR and may be accessed at www.sedar.com and www.sec.gov/edgar, respectively. Any Forward-looking Statement included on this press launch is made as of the date of this press launch and, besides as required by regulation, Cronos Group disclaims any obligation to replace or revise any Forward-looking Statement. Readers are cautioned to not put undue reliance on any Forward-looking Statement.

Advertisements

Cronos Group Contact
Shayne Laidlaw
Investor Relations
Tel: (416) 504-0004
[email protected]

Primary Logo

Share this text in your social community

This commercial has not loaded but, however your article continues under.

By clicking on the join button you consent to obtain the above publication from Postmedia Network Inc. You could unsubscribe any time by clicking on the unsubscribe hyperlink on the backside of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Comments

Postmedia is dedicated to sustaining a vigorous however civil discussion board for dialogue and encourage all readers to share their views on our articles. Comments could take as much as an hour for moderation earlier than showing on the location. We ask you to maintain your feedback related and respectful. We have enabled e-mail notifications—you’ll now obtain an e-mail when you obtain a reply to your remark, there’s an replace to a remark thread you comply with or if a consumer you comply with feedback. Visit our Community Guidelines for extra data and particulars on the best way to modify your email settings.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button