Cronos Group Inc (CRON)

[oatsuzn]

Cronos Group Announces Closing of Previously Announced $17 Million Bought Deal

http://thecronosgroup.com/press-release/cronos-group-announces-closing-previously-announced-17-million-bought-deal/

TORONTO, ON–(Marketwired – March 09, 2017) – Cronos Group Inc. (TSX VENTURE: MJN) (“Cronos Group” or the “Company”) is pleased to announce that it has closed its previously announced bought deal public offering, including the full exercise of the over-allotment option. As such, a total of 7,705,000 common shares of the Company (the “Shares”) were sold at a price of $2.25 per Share for aggregate gross proceeds of approximately $17.3 million (the “Offering”).

The Offering was underwritten by a syndicate led by Eight Capital and which included PI Financial Corp., Beacon Securities Limited, GMP Securities L.P., Cormark Securities Inc. and Mackie Research Capital Corp.The Company intends to use the net proceeds of the Offering for expanding production capacity at Peace Naturals Project Inc. and In The Zone Produce Ltd., purchasing extraction equipment, making investments in certain of its investees, funding certain amounts payable pursuant to existing contractual obligations and for general working capital purposes.