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All my Holdings are in the green today one is damn near $0.65 per share up another is $0.16 and all the others are up.. something's going on where someone's interested in something along this industry... we may be sitting on the OTC roller coaster but I like green much better than red.
17% jump today...anyone know why? I looked around but didn't see anything besides Cannaccord's 3.00 rating from last Wednesday.
Cronos featured in Marijuana Business Magazine
https://mjbizmagazine.com/northern-explorers/
U.S. businesses eyeing Canada’s upcoming rec market will find immense opportunities – and many potential pitfalls
by Omar Sacirbey
Forget California and other states that legalized recreational marijuana last year. Instead, look north.
Some U.S. cannabis businesses, entrepreneurs and investors see greener opportunities in Canada, where a massive new marijuana market is poised to materialize. If everything goes according to plan, the country will allow adults to buy recreational marijuana starting in July 2018 – all under the auspices of the federal government.
Legalization will open the floodgates for business and investing opportunities in everything from cultivation and extraction to retailing and testing as well as ancillary products and services. New entrants from the United States will be greeted by a vibrant capital market loaded with cannabis investors willing to open their checkbooks.
“I’m confident Canada is going to be a strong market,” said Paul Pedersen, a cannabis consultant with Vancouver, British Columbia-based Greywood Partners. “Demand is strong, the people want it, and the government is truly behind it.”
Indeed, Canada’s recreational marijuana industry could become a behemoth fairly quickly, reaching retail sales of 6 billion Canadian dollars ($4.45 billion) by 2021, according to financial analysts at Canaccord Genuity, an investment bank and research firm. For perspective, consider that medical and recreational sales in the United States totaled $4 billion-$4.5 billion last year, according to estimates in the Marijuana Business Factbook 2017.
While the opportunities in Canada will be massive, striking green north of the border won’t be easy, and some companies could stumble.
This special Canada package will help U.S. businesses and investors learn about the opportunities and pitfalls of expanding north. In the following pages, we take a look at:
The business sectors ripe for new entrants, plus those areas that may be less promising.
The obstacles you may encounter should you trek north, such as a vibrant black market.
Case studies on two companies with U.S. roots that have made inroads up north.
A who’s who of key decision makers as Canada’s rec program unfolds.
Opportunity Knocks
If you want to break into the Canadian cannabis market, it’s important to understand that each sector has its own unique attractions and challenges. While the exact opportunities will become more clear once the state finalizes regulations on the new industry, some sectors appear more promising for U.S. businesses than others at this time. Here’s a rundown:
Cultivation
At first blush, this sector looks promising for new entrants given the size of the potential market, which could attract more than 10 million Canadian consumers plus millions of tourists, according to various estimates. Huge demand will create large opportunities for companies that want to grow marijuana.
But the industry could become crowded with growers very quickly, and the country’s established medical marijuana companies will have a head start when it comes to tapping the rec market. As of late May, Canada was home to 45 federally licensed medical marijuana growers. The federal government has been licensing at least one or two new ones every month in 2017, and more than 400 others are awaiting approval. So the cultivation side of the industry could become saturated, though there are still immense opportunities for those companies that can get – and stay – on top.
Conclusion: Cultivation is an attractive sector given the huge number of Canadian cannabis consumers, but expectations should be tempered by the knowledge that the number of competitors may increase quickly.
Retail
This sector contains the most question marks and perhaps the fewest opportunities. The Cannabis Act legalizing adult-use marijuana mandates that Canada’s 10 provinces and three territories decide how consumers can buy MJ within their borders. Licensed, private retail stores – like those in U.S. rec states as well as Vancouver – seem like the logical model. But keep in mind this is Canada, which is home to government-regulated liquor stores and highly regulated pharmacies.
In fact, the only province that seems a strong bet to go with dispensaries is British Columbia, home to Vancouver. In Ontario, the country’s most populous province, powerful employee unions are pushing for sales through liquor stores. The unions have the vocal backing of Premier Kathleen Wynne. Other provinces, meanwhile, may not even have a retail distribution system in place by next summer.
Conclusion: Until entrepreneurs know whether individual provinces allow private marijuana retail shops or give the responsibility of sales to another entity like government-run liquor stores, it’s difficult to determine opportunities in this area.
Processing, Extraction, Manufacturing
This could be one of the most promising sectors. It’s perhaps the one with the fewest existing businesses – and therefore represents a major opportunity for new entrants that want to be early movers in processing, extraction and manufacturing.
Health Canada gave permission to some licensed MMJ producers to produce and sell cannabis oil in July 2015 – but the organization kept its prohibition on edibles. A relatively small number of producers make and sell oil products today. In short, oil production is a new craft in Canada requiring people with experience and know-how.
While the Cannabis Act would allow more medically oriented products like oils and topicals, one big question is whether the government will allow edibles, drinks and other more consumer-oriented products. If not, the market opportunities will be greatly reduced and entrepreneurs would need to rethink how much they want to invest in processing talent and equipment. The good news: The country’s cannabis legalization task force recommended edibles.
Conclusion: Canada’s current medical marijuana law already allows for some processed cannabis products, and that could increase under legalized rec. Given the relatively small number of processors, there is a demand for extraction and processing companies, so U.S. companies and investors should consider this sector one of the ripest for expansion.
Ancillary
Canada’s ancillary space will have opportunities across the board as new plant-touching companies sprout up. Consulting services will certainly be in demand, especially those with experience in rec markets such as Colorado and Washington state. And the testing sector could explode, especially following several pesticide-related product recalls earlier this year.
But not all subsectors will be brimming with possibilities, and entrepreneurs will need to be selective about what niches they want to enter. While there will be a need for seed-to-sale software, Toronto-based Ample Organics has already established itself as Canada’s market leader in that niche, with close to half the country’s legal MMJ producers as clients. And Canada has a strong long-standing agricultural base, meaning it has plenty of suppliers serving the farming sector. Ditto for greenhouse companies. In fact, Leamington, Ontario, claims to be the “Greenhouse Capital” of North America.
Conclusion: There will be business opportunities in many ancillary niches, but picking the right ones will require knowing what’s lacking and what’s not.
Obstacles Aplenty
Those wading into Canada’s rec market will confront a host of regulatory hurdles, business obstacles and challenges that come with navigating laws and customs in another country. Here’s a look at two of the larger ones:
Rules and Regulations
U.S. businesses and investors will have to play by Canadian rules surrounding the production, processing and sale of cannabis. Lawmakers writing the rec rules will strive to be thorough, and expansion-minded companies operating in the United States will face different regulatory issues than they do at home.
“They’re politicians and they’re going to move with extreme caution,” said Paul Pedersen, a cannabis consultant with Vancouver-based Greywood Partners, on how Canada’s lawmakers will proceed with the rule-making process.
Moreover, new U.S. entrants will encounter different government regulations and policies across Canada’s 10 provinces and three territories – similar to how each state and even city in the United States handles marijuana differently. One example of how this can create different playing fields: Some provinces, like British Columbia, are likely to pave the way for cannabis-specific retailers. Others, however, might prefer to put sales in the hands of national pharmacy chains.
The exact opportunities and challenges will come into focus in the coming months as lawmakers and regulators finalize a regulatory framework and provinces reveal more about how they will approach recreational marijuana.
Prime Minister Justin Trudeau’s Liberal government is working from recommendations submitted in December by a nine-member legalization and regulation task. The government is expected to adopt most if not all the recommendations, but many of the details remain unclear. For example: What restrictions will be imposed on advertising? Will infused products be allowed? What types of entities – dispensaries, pharmacies or liquor stores – will the provinces allow to sell cannabis?
Canada’s Black Market
On an overcast April afternoon in Toronto, an illegal but highly visible dispensary with a big sign was hopping with customers. The manager of the store – one of several that had expanded from Vancouver, where it began as a “dial-a-dope delivery service” – declined an interview. Small surprise: Toronto’s mayor has vowed to crack down on illegal cannabis businesses. Publicity would invite trouble.
But the stream of customers up and down the staircase to and from a large receiving area displaying products and accessories was testament to the kind of challenge that legal businesses will confront by way of the black market.
The Canadian government, for its part, has made eliminating the black market a central tenet of adult-use legalization. Finance Minister Bill Morneau, who is responsible for the program’s tax policy, has vowed to keep taxes low on legal operators to achieve that goal.
“The key issue is to make sure we eliminate the black market,” Morneau said in April in an interview with Canadian news outlet CBC.
The Canadian government – and legal operators – will have their hands full.
The illicit medical marijuana market, populated by unlicensed growers and dispensaries, outpaces the legal medical market in terms of sales. Despite off-and-on efforts by police in most Canadian municipalities to shutter illegal dispensaries, they continue to operate openly and draw heavy customer traffic.
“On a slow day a dispensary can make what some (licensed producers make) in a month,” Pedersen said.
Will illegal dispensaries disappear when legal retailers appear? Or will the illicit businesses fight back and survive? The latter scenario is the case in Vancouver. The Pacific port city has licensed a limited number of dispensaries. As of May, 10 had full licenses while another three dozen had preliminary licenses – while about 50 black market operators were doing business.
Licensed recreational cannabis cultivators, meanwhile, will confront a legion of MMJ home growers. Pedersen said at least some of that crop already is going to the black market.
As of May, more than 4,000 individuals were registered with Health Canada to produce cannabis for their own medical purposes.
According to Pedersen, some home growers are allowed to cultivate as many as 200-300 plants. Moreover, those larger home growers sometimes band together and between them form enterprises with several hundred plants. In 2014, by way of comparison, Health Canada reported that there were some 2.97 million plants being grown in homes legally. If you figure that one plant at a minimum yields at least half a pound, that total would have amounted to almost 1.49 million pounds.
The country’s licensed producers, by contrast, either grew or had in inventory a combined 70,468 pounds of plants in the final nine months of 2016.
“Cannabis entrepreneurs are a resourceful bunch,” Pedersen said of the home growers.
It means their U.S. counterparts hoping to capitalize on Canada’s new recreational program will have to be resourceful themselves.
Expanding Into Canada: A Tale of Two Companies
A look at how Cronos Group and The Green Solution tapped Canada’s MMJ market
The Cronos Group, a cannabis-focused holding company formed by U.S. and Canadian business partners, and The Green Solution, an infused products producer and retailer in Colorado, both saw opportunity in Canada. But their paths to America’s northern neighbor and its looming recreational market are decidedly different, with one taking the acquisition route and the other entering via a partnership. There are lessons to be learned in both approaches.
Case Study #1 : The Acquisition Route
The Cronos Group forged its own path. The holding company, headquartered in Toronto, came about after a group of U.S. business partners initially invested in an MMJ company north of the border. They later relaunched it as Cronos Group. Their experience demonstrates that investing can involve far more than simply wagering money on a business. It can mean taking over a business and overhauling its strategy and structure.
Cronos Group CEO Michael Gorenstein started investigating how to enter the cannabis space a few years ago when he worked in New York City, first as a corporate lawyer with Sullivan & Cromwell and then a hedge fund manager with New York-based AlphaBet Management, which later became Saiers Capital. He and his AlphaBet partners were drawn to Canada in part because MMJ was legal nationally.
In 2016, the AlphaBet partners targeted a canna-centric investment vehicle, PharmaCan (not to be confused with the U.S. PharmaCann), which at the time owned stakes in five licensed producers: In The Zone, at 100%; Peace Naturals, 27%; Whistler Medical Marijuana Corp., 21%; ABcann, 6%; and Hydropothecary, nearly 2%.
“It was mismanaged and, because of that, very undervalued. And it was public,” Gorenstein said of PharmaCan.
In Gorenstein’s view, PharmaCan was undervalued because management did not spend its capital wisely. And, he reasoned, the company’s real value lay in the licenses and real estate it held. Peace Naturals, for example, had a lot of land and a generous license – in terms of canopy space – to work with.
Gorenstein liked the potential to scale Peace Naturals, which occupied a mostly flat, 95-acre property in Stayner, Ontario, about two hours north of Toronto.
“When I saw the Peace Naturals property for the first time (in 2016), that was the moment when my thinking changed. I had been to a lot of grow facilities, but this presented a whole new opportunity with what we could do with this place,” Gorenstein said.
The lesson: When evaluating acquisition targets in Canada, scrutinize what licenses the companies hold and what the licenses allow and will permit later.
“We looked at PharmaCan and the assets and it just made a lot of sense to us. We wanted to have these large scalable licenses that we could build on and supply not just Canada but the world. We wanted to create these global platforms.”
Gorenstein and three of his AlphaBet partners each bought $2 million shares of PharmaCan. Gorenstein also took a board seat to ensure the money and company were managed properly.
But he and his colleagues didn’t like how PharmaCan was being run. They went from wanting to be investors to wanting to be owners and operators.
“Our thought was we would build our own team, create a platform that we wanted, and run things that we as investors would want things to be run,” Gorenstein said.
Convincing the Investors
The next step was convincing a conglomerate of hedge funds and private equity and real estate firms to help bankroll the takeover of PharmaCan.
Gorenstein and his colleague pitched the potential positives, such as:
Canada had many MMJ patients but few suppliers, meaning there were opportunities for new and/or larger growers.
Unlike the United States, Canada had a legal national market.
Canada had plenty of vacant land to build out grow operations.
“The biggest question was: ‘Are you willing to move from the West Village in Manhattan to Stayner?’” Gorenstein noted, referring to the rural Ontario town where Peace Naturals is located. “The fact that I was willing to leave my partnership in a successful fund and leave my life in the West Village and move to Stayner and start a turnaround spread a lot of confidence.”
Aside from Peace Naturals and In the Zone, Gorentein also likes Whistler Medical Marijuana, which he describes as an “artisanal craft” grower in British Columbia that carries the cache of the “BC Bud” appellation.
Gorenstein and his partners haven’t decided what to do with Hydropothecary and ABcann. They aren’t central to Gorenstein’s strategy and he wouldn’t hesitate to sell them and use the money to “keep building up our core assets.”
Focusing on Core Assets
Gorenstein and his team plan to build their remaining core assets to serve both the medical and recreational markets.
In The Zone will be Cronos’ “mainstream” recreational brand while Whistler will be the company’s premium brand. Peace Naturals, meanwhile, will be the chief MMJ supplier and serve the export market.
Cronos’ first objective is to expand its Peace Naturals grow site footprint out to nearly 350,000 square feet from the current 38,000 square feet.
Cronos also will expand In The Zone’s site in British Columbia and make it a hub for a “social entrepreneurship” project, Indiginous Roots, a venture led by well-known Indigenous Peoples leader Phil Fontaine.
Gorenstein said Cronos plans to build a 30,000-square-foot Indigenous Roots grow facility at In The Zone. Fontaine’s First Nation group will provide capital and operational funding, while Cronos will provide the intellectual property and know-how.
“It’ll be used as a training ground so we can open up new grow and distribution hubs in different indigenous communities,” Gorenstein said.
Case Study #2: The Partnership Route
The Green Solution (TGS) in Colorado opted to pursue the partnership route. It plans initially to sell its infused medical products – and later its rec products – north of the border via an exclusive partnership with OrganiGram. The Canadian MMJ cultivator has made TGS its exclusive product licensor and commercial scale extraction facility consultant.
TGS, for its part, has given OrganiGram its infused products intellectual property and know-how – the company makes some 250 drinks, edibles, tinctures, balms, pre-loaded vape cartridges and other products – along with the right to reproduce the products in Canada.
The partnership dates to last year when TGS co-founder Nick Speidell met then OrganiGram CEO Dennis Arsenault at a cannabis business conference in Canada. The two huddled about the country’s new law that allowed licensed growers to start producing oils.
Canada had just allowed licensed producers to start producing oils. And OrganiGram was looking for an American partner to help launch its oils operation. TSG, meanwhile, wanted to expand outside of Colorado and had Canada on its list if possibilities.
“Nick knew we had the bandwidth and the support structure set up to support OrganiGram,” said Trent Woloveck, TGS’ vice president of national operations.
Woloveck said Canada’s biggest attraction was having the freedom to manufacture products without fretting the federal government might crack down. Another draw was the ability to bank and conduct business without the barriers companies face in the United States.
The lesson: If partnering with a Canadian company, bring something to the table to offer in exchange for the benefits that a partnership can provide.
Confronting the Unknowns
TGS’ venture, however, underlines the potential pitfalls companies face when entering an emerging rec market like Canada’s. It’s unclear what adult-use products Canada will allow, for example. And it remains to be seen how the government will regulate adult-use cannabis advertising and marketing.
Under the existing medical program, licensed producers can sell flower as well as oils, lozenges, creams and other topicals. But edibles are out. Does that concern Woloveck that the country might not allow adult-use drinks and edibles?
“We’re fully committed to be ready to sell whatever products we’re allowed to sell when the time comes,” Woloveck said. “We also believe that as more products are approved to come online, OrganiGram will know how to adjust our production capabilities in a way that’s quick and cost effective.”
If current restrictions on the country’s medical cannabis industry, as well as its tobacco and alcohol industries are any measure, it will be hard for cannabis companies to advertise. For example, Canadian regulators are very concerned about advertising to children.
What does that mean for TGS? The company hopes to sell products under its Nectar Bee brand, but Woloveck’s “best guess” is that it will be “Nectar Bee manufactured by OrganiGram.”
“As it stands, we believe we’ll be able to use our brand,” he added. “But we’ll of course defer to the regulators.”
Peace Naturals, which is wholly-owned by Cronos Group (TSXV: MJN) (OTC: PRMCF), uses both flower and trim with both supercritical and subcritical CO2 extraction machines custom-built for the company to separately extract cannabinoids and terpenes, which are recombined and blended with a pharmaceutical MCT carrier oil (chia and coconut). Its two offerings are currently a blend of strains that are THC-focused, but it expects to offer strain-specific oils and to introduce capsules as well. The company began selling in December 2015, and its Cerene oil, which has a lower THC potency than Omega, is the more popular variety.
https://www.newcannabisventures.com/cannabis-extracts-the-next-canadian-oil-boom/
Just checking in to see what the excuse of the day is and wondering when this stock is just going to s*** the bed totally... Part of me wants to get out the other part of me is in so deep I can't afford to... Not a good place to be at the moment
More insider BUYING
https://www.chaffeybreeze.com/2017/06/13/cronos-group-inc-mjn-insider-buys-c42020-00-in-stock.html
Cronos Group Inc (CVE:MJN) insider William Lawrence Hilson bought 22,000 shares of the company’s stock in a transaction on Monday, June 5th. The shares were bought at an average cost of C$1.91 per share, for a total transaction of C$42,020.00.
yeah I hear yah. I'm down on every one of my fifteen weed stocks except this one and two others. The entire sector is down. Right now is the best time to average down or take advantage. Not sure if a sector correction or just depressed from political factors. IMO with Sessions/Spicer/Trump around, the US side will be depressed and we really need Canada to keep moving forward with legalization.
My vote is they get the shares over the 1.88 USD that I paid and let me see green for a day!!!!
man am I sick of red.
Stock options for employees its a long read and a lot of money at stake
Yeah glanced it over last night, will probably read it over the weekend. I just saw election of directors, compensation and can't remember the other one.
Hey have you guys gotten the voting prospectus for the shareholders meeting just asking your thoughts on some of the issues.
Looking like consolidation for the next few days....
They haven't requested to uplist to the OTCQB yet.
It says grey market on the otc markets website.
Why do you think they are on the grey ?
Correct. They got on the OTCBB in July 2016.
Look like that to me
Otc markets has this listed on grey market. Is this true or a mistake.
Why is the trade volume so low on this stock when it's in half million and millions on the other three or four
Well choke me with a spoon were down .03 already excellent... WTF
Just put in another order for 2080 shares @ 1.30 to lower my share price. I believe in this company and the directors that they will become a large player in the mkt. we will see.
Cronos Group Inc (MJN) Insider Jason Marc Adler Buys 80,000 Shares
Cronos Group Inc (CVE:MJN) insider Jason Marc Adler bought 80,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The shares were purchased at an average price of C$1.73 per share, for a total transaction of C$138,400.00.
Separately, Beacon Securities restated a “buy” rating on shares of Cronos Group in a research report on Friday, February 10th.
https://www.chaffeybreeze.com/2017/06/06/cronos-group-inc-mjn-insider-jason-marc-adler-buys-80000-shares.html
completed quarter.
Profit-426.98%
Cronos Group Inc has a net profit margin of -426.98%. Besides being negative, it is also below the industry average and implies that this company is not effective at turning revenues into bottom line profit.
Steven Blaney, Bellechasse—Les Etchemins—Lévis, QC - Conservative - speaking on May 30th in the C-45 debate said:
"...the government wants to line the pockets of their Liberal cronies at the expense of the health and safety of Canadians.
"That is right. The only kind of capitalism the government approves of is crony capitalism. For the rest of us, it is bread and circuses.
"We have tightened the rules for political fundraising, but that is not enough. There will be an industry that will sprout billionaires as a result of government largesse. That is how the Liberals will become rich. Unfortunately, that is what lies behind this bill.
"It has already happened. People like Chuck Rifici, the former treasurer of the Liberal Party, co-founded Canopy Growth, a company that is now worth billions of dollars. Until last summer, he was the Liberal Party's chief financial officer. In fact, Mr. Rifici still worked for the Liberal Party when he co-founded Tweed, the company that has become the largest producer of medical marijuana in the country.
"The same Mr. Rifici, a well-known Liberal, was also a member of the board of directors of Aurora Cannabis until May 8, and he is now the CEO of Cannabis Wheaton, which helps cannabis producers become publicly traded companies.
"Is the connection clear? The words “cannabis”, “Liberal”, and “legalization” add up to “a lot of money”.
REBUTTAL
Bill Blair, Parliamentary Secretary to the Minister of Justice and Attorney General of Canada, reacting to claims by Conservative Steven Blaney Bellechasse—Les Etchemins—Lévis, QC on May 30th in the C-45 Bill debate:
...."the member for Bellechasse—Les Etchemins—Lévis made reference to a number of organizations who are licensed producers in this country, and he made a suggestion. It was more than a suggestion. He actually made a bold declaration that somehow there has been some kind of political preference given to these particular licensees, and he named four of them: Tweed, Canopy, Aurora, and Hydropothecary.
"I just wanted to ask the Parliamentary Secretary to the Minister of Health, who knows something about the licence applications, if he thinks it would surprise the member to learn that all four of the organizations mentioned by the previous member in his speech received their licences from the Conservative government, and not from us."
I feel ya man, I'm in the same boat with other stocks. All I can advise is if you believe in the management and the steps their taking, then average down or hold. If you don't believe in the process then sell. Management's job is to implement the process and reach their goals not give daily minute by minute updates. Personally I believe the pps took a hit from the cleaning agent mixup but it should rebound.
Well we're down again midday another $0.05 per share I bought this at 2.49 USD it's almost a loss of a dollar per share and if you have 10,000 shares that's a lot of money to watch go away with all the huge news why is there no huge news with this company? Why wouldn't they answer the phone or emails? Giving warm fuzzy feelings and saying don't worry investors were on track or something/anything.
Bill C45 and Bill C46....
Debate on second reading C-45 Cannabis Act has begun
Yesterday in Ottawa we saw yet another milestone on the road to the potential legalization of cannabis for recreational use in Canada. Parliamentary procedural geeks recognize that while this is entitled “Second Reading” of the bill, this is the first formal debate on legalization. The debate, which started yesterday, encompasses 24 pages of text so far. While this will be tiny compared to what we will see at the end of the process, it does provide us with a first glimpse into where the battle lines will be drawn.
https://www.linkedin.com/pulse/off-will-stewart
Bill C46 Canadian MJ Legalization legislation was adopted at the second reading and is now referred to the Standing Committee on Justice and Human Rights
Okay so huge news comes out should be a home and a stock gains a penny what the hell
Forecast from the Financial Times - 29-May-2017:
The 4 analysts offering 12 month price targets for Cronos Group Inc have a median target of 4.13, with a high estimate of 4.25 and a low estimate of 4.00. The median estimate represents a 67.68% increase from the last price of 2.46.
As of May 26, 2017, the consensus forecast amongst 4 polled investment analysts covering Cronos Group Inc advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Nov 09, 2015. The previous consensus forecast advised investors to hold their position in Cronos Group Inc.
https://markets.ft.com/data/equities/tearsheet/forecasts?s=MJN:CVE
Cronos Breaks Ground on World's Largest Purpose-Built Indoor Cannabis
Facility
http://thecronosgroup.com/uncategorized/cronos-breaks-ground-worlds-largest-purpose-built-indoor-cannabis-facility/
TORONTO, May 23, 2017 /CNW/ – Cronos Group Inc. (TSXV:MJN) (“Cronos” or the “Company”) is pleased to announce the Company’s wholly-owned licensed producer (“LP”), the Peace Naturals Project Inc. (“Peace”), breaks ground today on a 315,000 sq. ft. expansion. The expansion includes a state-of-the-art 286,000 sq. ft. production facility (the “New Facility”), a 28,000 sq. ft. greenhouse (the “Greenhouse”), and an additional 1,200 sq. ft. extraction laboratory (the “Extraction Lab”). Upon completion, the New Facility is expected to be the largest purpose-built indoor cannabis production facility in the world.
This expansion will establish the Peace production campus as Cronos’ global center of excellence. The New Facility is designed to Good Manufacturing Practice (“GMP”) certification standards and will include:
Designated area for proprietary genetic breeding
Pharmaceutical laboratory for cannabinoid and terpene extraction, identification, and formulation
R&D space for analyzing metabolite enhancement and new lighting technologies
Tissue culture laboratory
Industrial-grade kitchen
Processing infrastructure capable of supporting production output from other Cronos facilities
The superstructure is expected to be complete by November 2017, with the New Facility fully operational by summer 2018.
This expansion will bring Peace’s total estimated production capacity to 40,000 KG on an annualized basis.
“Over the past six months, we’ve compiled research on numerous methodologies, ultimately culminating in a state-of-the-art facility that integrates lean manufacturing, production efficiencies, and commercial agricultural best practices. As an organization, we take a relentless approach to operational optimization,” said David Hsu.
The Company also breaks ground today on a 28,000 sq. ft. Greenhouse that will provide low-cost flower for extraction. The Greenhouse will be used to collect data and implement advanced cultivation techniques that can be replicated across Peace, ITZ and future international production campuses.
A 1,200 sq. ft. pharmaceutical-grade Extraction Lab will be connected to the Greenhouse, expanding Peace’s current extraction capacity. The Extraction Lab will augment capabilities in both purification and recombination of cannabinoid compounds to create innovative formulated products. Completion of both the Greenhouse and Extraction Lab are expected by the end of summer 2017.
“The New Facility will serve as Cronos’ center of excellence, providing a platform for top plant scientists, chemists and pharmacologists to advance the science of cannabis. With the ability to build approximately 5,000,000 sq. ft. of facilities across our licensed domestic platforms, this is only the first phase of our expansion. We will continue to be aggressive, but disciplined, constantly evaluating new technologies and exploring international low-cost production sites before each phase of expansion. We’re excited to bring Peace to the world,” said Mike Gorenstein, CEO of Cronos.
The new cannabis law - the legalising of recreational cannabis in Canada - to be debated in the Ottawa parliament on June 2 next, or the following week.
http://www.hilltimes.com/2017/05/23/house-to-debate-seismic-shift-federal-policy-canadian-society-impaired-driving-marijuana-bills-coming-days/107849
The article states:
It’s possible Bill C-45, the Cannabis Act, could come up for debate for the first time on Friday, June 2, or in the week following, as both C-45 and C-46 are bills that the government has indicated it wants to make progress on before the summer recess.
While Mr. Blair wouldn’t say whether he thinks this debate could be the next big policy conversation in Canada, he said it’s “a subject that Canadians are going to be thinking and talking about,” and that he’d like moved forward with it soon.
However, NDP House Leader Murray Rankin (Victoria, B.C.) said he views it as the next big conversation.
“It’s a seismic shift in our society. For so long we’ve had prohibition—since the 1920s—and the government’s objective, I think, with the support of most Canadians, is to now no longer have prohibition,” Mr. Rankin said.
Well I'll be it worked I put the really negative stuff out there and the stock jumps up $0.10 per share and they build new things excellent day
Are we being Delisted like ESSI what is going on? no shares traded today? called scotttrade and they couldn't find any info on it ... it had to have one share traded today? Any help could and will be appreciated.
thanks mrrhino.... jrseyrhino@aol.com
Hey what's with this board there must be more than one person holding this stock that could post some new news or something different or some kind of cheering section or some insight if we should dump this puppy and run.
Thanks
Lack of news from company or recent company updates, making investors Leary of share holding.
Seems to be one of the concerns of others also.
A 76% increase in MJN:CVE / Cronos Group share price is forecast by the Financial Times today (Monday 15-May-17):
"As of May 12, 2017, the consensus forecast amongst 4 polled investment analysts covering Cronos Group Inc advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Nov 09, 2015. The previous consensus forecast advised investors to hold their position in Cronos Group Inc.
"The 4 analysts offering 12 month price targets for Cronos Group Inc have a median target of 4.13, with a high estimate of 4.25 and a low estimate of 3.50. The median estimate represents a 76.28% increase from the last price of 2.34."
https://markets.ft.com/data/equities/tearsheet/forecasts?s=MJN:CVE
Ok I also am starting to get down... I feel that maybe it's all horsepoop and hype... since late December I started with 32,000 yes I am sure you will all tell me that that is small time but it's down to 18,900 now. I own ACBFF, APHQF, PRMCF, TWMJF...
They all seem to do the same thing I know I'm not that powerful but I buy them and they just keep going down each day I look.
I've been told by two Brokers that it's probably the stupidest Investments I've ever made in my life... I've been told least by five friends who are in the market heavily that they used to play with OTC stuff back in the eighties and lost it all... I am new to all this and it's depressing to lose it faster than I can save it....
Been pretty busy. But here's the latest on the HC issue:
https://www.cantechletter.com/2017/05/cronos-group-isnt-using-banned-pesticide-says-pi/
Cronos Group isn’t using a banned pesticide, says PI
A warning from Health Canada to Cronos Group (TSXV:MJN) is a simple misunderstanding, says PI Financial analyst Jason Zandberg.
On May 6, Cronos Group reported that its wholly owned subsidiary LP, Peace Naturals Project was notified on May 4, by Health Canada that upon testing a random cannabis leaf sample, trace levels of piperonyl butoxide (PBO) were discovered at 0.78 part per million.
“Our first priority is the health and safety of our patients. We take safety testing seriously and are working closely with Health Canada to determine next steps. We are committed to demonstrating that Peace and the ACMPR are the global gold standard for safe, regulated cannabis,” said Cronos Group CEO Mike Gorenstein, Zandberg says he takes issue with Health Canada’s assessment.
“We disagree with Health Canada’s implication that Peace Naturals products tested positive for unauthorized pesticides for the following reasons,” says the analyst. 1. PBO is not a pesticide. PBO is actually an ingredient in a sanitation product approved by Heath Canada which is used to sanitize facilities between growing cycles – it is not a pesticide and was not used as one. 2. PBO does not represent a heath concern – in our estimation, a patient would have to consume over 75kg (per person) of product for the levels of PBO to create any adverse reaction. 3. The substance was found on a mother plant leaf due to an old HVAC system that has since been replaced. It has been determined that Peace Naturals HVAC system collected some of the PBO during the sanitation cycle which was transferred on to a mother plant that was subsequently tested. This HVAC system has been upgraded and no longer poses a threat to cross-contaminate plants.
Zandberg says that while he agrees with the oversight Health Canada has implemented, this is a wrong-headed application of its power.
“Health Canada has instituted a strict random testing program which we applaud but also recognize testing results can be misunderstood,” he argues. “We believe the use of banned pesticides need to be eliminated from the market but Cronos has not tested positive for pesticide use and we are confident that the Company’s GMP certified facility produces the highest quality medical cannabis.”
In a research update to clients yesterday, Zandberg maintained his “Buy” rating and one-year price target of $4.25 on Cronos Group.
Zandberg thinks Cronos Group will post EBITDA of negative $541,000 on revenue of $9.06-million in fiscal 2017. He expects these numbers will improve to positive EBITDA of $12.1-million on a topline of $42.7-million the following year.
Why isn't this board fired up and why is there not much talk or hype or excitement like on the other boards of the other three or four major players.
I'm just saying we got some news but then for a few days the posts? die...
PEACE NATURALS AWARDED GMP CERTIFICATION FORTIFYING GLOBAL DISTRIBUTION
http://thecronosgroup.com/press-release/peace-naturals-awarded-gmp-certification-fortifying-global-distribution/
CRONOS GROUP PROVIDES OPERATIONAL UPDATE AND FILES 2016 FINANCIAL RESULTS
http://thecronosgroup.com/press-release/cronos-group-provides-operational-update-files-2016-financial-results/
May Day ... 01-May-2017: The Financial Times today forecasts for MJN:CVE
"The 4 analysts offering 12 month price targets for Cronos Group Inc have a median target of 4.13, with a high estimate of 4.25 and a low estimate of 3.50. The median estimate represents a 53.92% increase from the last price of 2.68."
https://markets.ft.com/data/equities/tearsheet/forecasts?s=MJN:CVE
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