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Cronos lists on Nasdaq, as US gets first ‘pure play’ marijuana stock on major exchange
https://mjbizdaily.com/cronos-lists-nasdaq-us-gets-first-pure-play-cannabis-stock-major-exchange/
A major U.S. stock exchange is listing a weed company for the first time ever
https://news.vice.com/en_ca/article/j5ba3b/a-major-us-stock-exchange-is-listing-a-weed-company-for-the-first-time-ever?utm_source=vicetwitterus
Nasdaq to get first pot listing as Canada's Cronos Group joins exchange
https://www.theglobeandmail.com/globe-investor/investment-ideas/nasdaq-to-get-first-pot-listing-as-cronos-group-joins-exchange/article38110213/?cmpid=rss1
Nasdaq to Get First Pot Listing
https://www.bloomberg.com/news/articles/2018-02-26/nasdaq-to-get-first-pot-listing-as-cronos-group-joins-exchange
Nasdaq to see first cannabis listing as Cronos Group joins exchange
https://www.bnn.ca/nasdaq-to-see-first-cannabis-listing-as-cronos-group-joins-exchange-1.1011086#_gus&_gucid=&_gup=twitter&_gsc=Eyy7cHR
This is Mike, CEO of Cronos Group. I'll be back tomorrow (2/21/18) at 4pm EST to answer your questions!
https://www.reddit.com/r/weedstocks/comments/7yz09c/this_is_mike_ceo_of_cronos_group_ill_be_back/
This is the 2nd AMA(Ask Me Anything) Mike Gorenstein has done on Reddit. I I've been away and just catching up on stuff missed. Reading thru this now. I strongly suggest reading the one he did last year. You can really see how this team is accomplishing goals. They may not say much in the meantime but they definitely get things done. The NASDAQ listing is GREAT news!!
Here’s the latest construction update from our production facility! Take a look inside our 315,000 sq ft. expansion in Stayner, Ontario. #ACMPR
https://twitter.com/PeaceNaturals/status/966355101811134464
CRONOS GROUP TO BEGIN TRADING ON NASDAQ STOCK EXCHANGE
http://thecronosgroup.com/press-release/cronos-group-to-begin-trading-on-nasdaq-stock-exchange/
Cronos Group to Begin Trading on NASDAQ Stock Exchange
TORONTO, February 26, 2018 /CNW/ – Cronos Group Inc. (TSX-V: MJN) (OTC Nasdaq Int’l Designation: PRMCF) (“Cronos Group” or the “Company”) is pleased to announce that trading of its common shares in the United States will be elevated from the Nasdaq International Designation program to the Nasdaq Global Market (“Nasdaq”).
Cronos Group expects that its common shares will begin trading on Nasdaq on February 27, 2018 under the trading ticker symbol “CRON.” Cronos Group will retain its listing on the TSX Venture Exchange (“TSX-V”) under the symbol “MJN.”
“This up listing to NASDAQ is a major corporate milestone and reflects the significant progress we have made in strengthening our corporate governance and expanding our global footprint,” said Mike Gorenstein, CEO of Cronos Group. “We believe this will increase long term shareholder value by improving awareness, liquidity, and appeal to institutional investors.”
Yup exactly...and this is great news!
Updated Investor Presentation - February 2018(includes Australia)
http://thecronosgroup.com/wp-content/uploads/2018/02/LR_CronosPresentationEvents-Feb2018.pdf
This is up 30% this morning. Anyone know the reason why? I don't see any news.
Cronos Group Announces Launch of Cronos Australia with Grant of Two Licenses
http://thecronosgroup.com/press-release/cronos-group-announces-launch-of-cronos-australia-with-grant-of-two-licenses/
TORONTO, February 5, 2018 /CNW/ – Cronos Group Inc. (TSX-V: MJN) (OTC Nasdaq Int’l Designation: PRMCF) (the “Group” or the “Company”) is pleased to announce the launch of Cronos Australia Pty Ltd. (“Cronos Australia”) and the grant of medicinal cannabis cultivation and research licenses.
“The launch of Cronos Australia as our newest international hub marks an important milestone for the Company. Cronos is focused on providing pharmaceutical grade medicine to patients in need, and we are excited that our Australian team shares this vision and commitment,” says Mike Gorenstein, CEO of Cronos Group.
Cronos Australia is a 50/50 joint venture between the Group and NewSouthern Capital Pty Ltd, led by Mr. Rodney Cocks and Mr. Peter Righetti. Cronos Australia will serve as the Group’s hub for Australia, New Zealand, and South East Asia, bolstering the Group’s import/export supply capabilities and distribution network. Cronos Australia will leverage the Group’s intellectual property and iconic brands to deliver premium cannabinoid based products to Australasia.
Rodney Cocks, Chief Executive Officer & Director
Before founding Cronos Australia, Rodney was a consultant with The Boston Consulting Group, later taking up a senior role at an Australian multinational before co-founding NewSouthern Capital. He heads up the capital raising and portfolio company teams at NewSouthern, and sits on the investment, audit and risk committee for the company. As a graduate of the Royal Military College, Duntroon, Rodney commenced his career as an Australian Army infantry officer and was also a senior member of the UK Government’s Counter Narcotics team at The British Embassy in Kabul, which was responsible for targeting the massive opium and cannabis cultivation and trafficking issue in Afghanistan. Rodney holds a Bachelor of Commerce, Bachelor of Laws, MBA (Wharton, University of Pennsylvania), and an MPA (Harvard University). He is an admitted lawyer to the Supreme Court of New South Wales, a Graduate of the Australian Institute of Company Directors, and an Authorised Representative under an Australian Financial Services License. Rodney was also named the Victorian Australian of the Year in 2005.
“We are extremely pleased to announce that Cronos Australia has secured both a medicinal cannabis license and a cannabis research license, paving the way for us to research, cultivate, and produce premium cannabinoid-based products for Australian patients,” says Mr. Cocks.
Peter Righetti, Chief Operating Officer & Director
Prior to establishing Cronos Australia, Peter worked for more than 20 years in residential and commercial property, providing strategic-level expertise in the fields of development acquisition, planning, construction/project management, project financing, and marketing. Peter heads up the investment and property teams at NewSouthern Capital and sits on the risk, audit, and investment committees for NewSouthern. In line with NewSouthern’s commitment to the creation, protection, and growth of investor wealth, Peter will assume a pivotal role in the establishment and ongoing operations of Cronos Australia. Peter is a graduate of Royal Military College, Duntroon, and served as an Army Officer in the Royal Australian Corps of Engineers. He has held senior leadership and executive positions in private and publicly listed Australian companies. Peter holds a Bachelor of Commerce and a Bachelor of Laws. He is admitted as a barrister and solicitor of the Supreme Court of Victoria.
“Cronos Australia will continue to leverage the Group’s intellectual property to ensure that we deliver the highest quality medicinal cannabis products to the Australasia region,” says Mr. Righetti.
Cronos Australia’s first production campus will be located on 120 acres and will commence construction on the initial phase of its production platform with a 20,000 sq. ft. purpose-built facility (the “Initial Facility”), with an expected annual production capacity of 2,000KG. Cronos Australia is currently working with the Group on designing a significant capacity expansion beyond the Initial Facility. In the interim, the Group intends to make available supply of Peace Naturals’ premium medicinal cannabis to support Australian patient access, subject to obtaining its import license. The Initial Facility has been designed to meet the Group’s best-in-class quality standards, including Good Production Practices and Good Manufacturing Practices (GMP). The Group’s expertise operating under these guidelines is expected to ensure that all quality controls across the Group’s international platforms are consistent with the highest manufacturing standards.
The operations of Cronos Australia are subject to approval of the TSX Venture Exchange.
Conference Call
A conference call to discuss Cronos Australia will be held at 8:45 am (EST) on Monday, February 5, 2018. The call will be open to the public and instructions for the conference call are provided below:
Conference ID: 6999547
Topic: Launch of Cronos Australia
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. Instructions for the audio replay are provided below:
Toll-free dial-in number: (855) 859-2056
Passcode: 6999547
The GTC order will probably fill, this seems to be going up. I can't figure this one out with the halt/trading. GLTY as well, I'll still be watching this one too.
I just saw the pps went up to 1.15usd. Put in a sell order only for it to be canceled. Apparently my sell order from 12:08 Wednesday went thru @ 1.11usd(not sure when it actually filled because I'm just seeing it now and there's no time-in-force). So I'm out for now. GLTA
The trick to Reddit is posting daily and getting posts "upvoted" and commented on so they stay at the top. On Friday, I posted links to the other relevant cannabis sub Reddits that we could spread the word on, but my post was deleted smh.
Making a separate sub Reddit for EVIO wouldn't get eyes unless those posts were then posted again in /r/weedstocks.
/r/weedstocks is the largest sole cannabis investors forum on the internet and I try to bring up EVIO any chance I get but Canadians investors generally view the US market as being less attractive as a whole and really want CSE or TSX.v tickers so they can trade from their TSFA's. EVIO would do really well with a Canadian ticker!
And this post will probably be deleted for an "unknown" reason smh.
I don't think EVIO should have it's own sub because nobody will see it. /r/weedstocks has over 30k subscribers and is the best way to get eyes on EVIO. Making a new sub would be like starting over and we'd have to still make posts to /r/weedstocks linking the EVIO sub for the 30k people there to see it.
And this post will be deleted probably for an "unknown" reason.
Yup, noted this in my posts on Friday(that got deleted...BS). Canadians investors know the cannabis biz pretty well, as Canada is light years ahead of the US. The US market is just looked at as unfavorable to most Canadian investors. They also generally only want to deal with tickers they can trade in their TSFA.
yeah I still couldn't sell any today. But there was 14,100 volume today and went up .01. I don't get it.
CRONOS GROUP ANNOUNCES CLOSING OF PREVIOUSLY ANNOUNCED $46 MILLION BOUGHT DEAL
http://thecronosgroup.com/press-release/cronos-group-announces-closing-of-previously-announced-46-million-bought-deal/
TORONTO, Jan. 24, 2018 /CNW/ – Cronos Group Inc. (TSX-V: MJN) (OTC Nasdaq Int’l Designation: PRMCF) (“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 5,257,143 common shares of Cronos Group (the “Shares“) were sold at a price of $8.75 per Share for aggregate gross proceeds of approximately $46.0 million (the “Offering“).
The Offering was underwritten by a syndicate led by PI Financial Corp. and included GMP Securities L.P., Beacon Securities Limited, and Cormark Securities Inc.
Cronos Group intends to use the net proceeds of the Offering for expanding production capacity, research and development initiatives, and for general working capital purposes, as more fully described in the short form prospectus of the Company dated January 18, 2018.
The Shares were offered by way of a short form prospectus filed by Cronos Group in each of the provinces of Canada, excluding the province of Québec, pursuant to National Instrument 44-101 – Short Form Prospectus Distributions. The securities that were sold have not been, nor will they be, registered under the U.S. Securities Act, and were not offered or sold in the United States or to, or for the account or benefit of, U.S. persons absent registration or an applicable exemption from the registration requirements.
Yeah I was trying to sell a couple thousand shares @ .96 and then @ 1.00. Nothing would execute. When the pps stayed there at 1.00 but didn't sell, I was like why wtf??? And called TD.
I had to call TD about an hour ago because none of my sells have been executing even tho there's like 21k volume on OTC today. They told me it's halted on the OTC side now smh.
ha! Good luck to you as well!
Whewh tough news. Held this one for a short time last year and have been keeping a close eye on it as EVIO's only publicly traded competition in the US. I guess this will put a serious damper on their late Cali expansion. Outsourcing will cost alot but it looks like they don't even have a valid business license anymore uggh. EVIO should look into buying out this NV location.
Kush Bottles' Main Challenge Is Managing Growth - Debra Borchardt's Idea Of The Month
https://seekingalpha.com/article/4139061-kush-bottles-main-challenge-managing-growth-debra-borchardts-idea-month
Debra Borchardt
Long only, micro-cap, nano-cap
MARKETPLACEMarijuana Money
(751 followers)
Summary
We have extended our partnership with Cheddar TV to produce a Seeking Alpha 'Idea of the Month' segment with Marketplace authors.
SA Marketplace author Debra Borchardt continues the series with her idea of the month: Kush Bottles.
Kush Bottles hit its 52-week high after reporting earnings last week. With marijuana legalization picking up in the west coast, packaging is becoming more in demand.
This idea was discussed in more depth with members of my private investing community, Marijuana Money.
See Debra's recent article on Kush Bottles (OTCQB:KSHB) here.
Kush Bottles Is Locking Up The California Cannabis Market
https://seekingalpha.com/article/4138740-kush-bottles-locking-california-cannabis-market
Debra Borchardt
Long only, micro-cap, nano-cap
MARKETPLACEMarijuana Money
(729 followers)
Summary
Kush Bottles will continue to grow based on the legalization of recreational marijuana in California.
Increased regulatory actions will increase demand for compliant packaging solutions.
The Nevada market has just gotten underway and is booming.
The Northeast market has huge potential.
This idea was discussed in more depth with members of my private investing community, Marijuana Money.
Cannabis packaging company Kush Bottles, Inc. (OTCQB:KSHB) recently reported rising revenue and net income for its first fiscal quarter of 2018, for the period ending November 30, 2017. Revenue rose 258% to $8.85 million over last year's $2.4 million, and net income was $94,615 versus last year's net loss of $161,000.
Gross margins fell from 34% to 30% as business increased in the lower margin vaporizer category. The company acquired CMP Wellness, which generated strong vaporizer sales, but at the cost of lower margins. This is one of the fastest growing categories in the cannabis market, so it was a wise move to acquire this company.
CEO Nicholas Kovacevich said,
"During the first fiscal quarter of 2018, we saw the release of California's new temporary regulations for medical and adult-use cannabis sales, which took effect on January 1, 2018. California is not only the U.S.'s largest cannabis market but also our home market where we have already extensively invested in sales, marketing, and infrastructure. We consider the legalization of adult-use cannabis sales to be a major opportunity to scale the business throughout 2018 and beyond, and we have made significant headway to establish the Company as a leader in this market. Many of our clients have been granted temporary licenses and we are working with them closely during this hectic transition period as California finalizes its permanent regulations over the next 6 to 12 months."
While some may think that Kush Bottles has already gotten its California bump, this market hasn't even really gotten underway. Many of the businesses only have temporary licenses and much more are still waiting to get temporary and permanent licenses. Kush said it is looking at Northern California and some of the mix of buying power shifting from the LA dispensary markets to the Northern California grower markets. It believes there is a lot of expansion opportunity. The company even said it has a significant opportunity in California to "grow sales through 2018 and beyond as the market matures."
In addition to California, there's the Nevada market. Kush said that it has seen "Sustained strengthening in demand after legal adult-use sales started on July 1, 2017." The company said it continues to grow customer and distributor relationships in that region. So, there could be additional sales increases in this state, which could surpass Colorado in recreation sales.
Then, there's the Northeast market which has hardly been tapped. Massachusetts could come on board with legalized recreational marijuana in July of 2018. New Jersey's governor is also wanting to fast-track recreational marijuana as well.
While some investors are nervous about the killing of the Cole Memorandum, which seemed to protect cannabis companies, Kush actually benefits from more regulation. Kovacevich said,
"We are already seeing long-term structural changes in the industry as a result of increased state-level regulation such as an increase in prepackaged cannabis products, a stronger emphasis on safety and responsible manufacturing practices which requires better labeling and put the onus on cultivars and distributors to market their products using responsible methods that comply with new regulations."
Usually, this means more child-resistant packaging, and Kush has plenty of options here for brands.
With regards to enforcement by the Justice Department Kovacevich said,
"What we've seen come out so far is lack of appetite from a lot of these local federal prosecutors to even want to start talking about going after cannabis. And we believe that if there is enforcement of cannabis operators, it will be of those operators that are operating illegally hiding behind state legal frameworks to do interstate commerce and things that are really should not be allowed. So, ultimately, we view this as not much of an impact on our business, really strengthening the need for having compliant products and practices."
I spoke at length with Kovacevich at the MJ Biz Conference in November and he showed me the myriad of new packages for the concentrate market, which is still a niche customer but is rapidly growing. The main way for these products to sell themselves to new customers is by unique packaging.
Kush stock recently hit its 52-week high of $8.51 and since has pulled back and was lately trading at $6.67, but the company has barely felt the impact of the California market in its numbers. It believes it can get into the hundreds of millions of dollars in revenue at some point. It has been steadily preparing itself for such growth and recently added Barbara Goodstein of Tiger 21 to its board and has been hiring key people in management roles. So, while the stock may feel like it's topped out, the growth is really only just beginning.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.
I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
Editor's Note: This article covers one or more stocks trading at less than $1 per share and/or with less than a $100 million market cap. Please be aware of the risks associated with these stocks.
Weird, I saw at one point today 100 shares traded. Then 414 shares. Now I see only 14 shares traded...I'm confused. Guess we'll see what's up at 9:30am EST.
I read thru that PR again. Peace is selling 6 oils that are delivered orally. They don't sell vapeable oil cartridges so this PR is just letting everyone know that they have the license required to ship those oils internationally.
Hmm thanks. So OGBC's website isn't doing commerce right now and they're growing two strains and selling thru Peace's site. I wonder what's the story behind that. I've been preoccupied with work today. Going to email Cronos about today's PR right now and will post the response when I get it.
That's a great question. I'm going to shoot an email to IR today when I get a chance. You should as well.
PEACE NATURALS RECEIVES DEALER’S LICENSE ALLOWING FOR THE EXPORTATION OF NEW PRODUCT CATEGORIES
http://thecronosgroup.com/press-release/peace-naturals-receives-dealers-license-allowing-exportation-new-product-categories/
TORONTO, Jan. 22, 2018 /CNW/ – Cronos Group Inc. (TSXV: MJN) (OTC – Nasdaq Int’l Designation: PRMCF) (“Cronos Group” or the “Company”) is pleased to announce that Peace Naturals Project Inc. (“Peace”), a licensed producer wholly owned by the Company, has just obtained a Dealer’s License pursuant to the Controlled Drugs and Substances Act under Health Canada. This enables the Company to, through Peace, export medical cannabis extracts, including concentrated oil and resin products, internationally.
“Cronos is focused on having a presence in all major international markets as the regulatory environment evolves. This Dealer’s License will enable us to expand the product offerings we export to these jurisdictions, which is instrumental to our global expansion strategy,” said Mike Gorenstein, CEO of Cronos.
We got some movement today. 100 shares traded on the OTC for .886. I looked at CMM.V, didn't see anything.
Actually, I guess I wasn't the only one who thought the multiple Canopy boards were confusing, because two of the three got shut down and they're pointing to the larger board.
I dunno, I had followed both of the Canopy boards but nobody was really using one of them, so eventually I just gave up on one. The other Cronos board barely has any comments on it while this one has comments from 2014. This board was originally pointing to MJN but was incorrectly referencing NYSE: MJN instead of TSX.v MJN and wasn't really being used too much. In an effort to get more discussion and draw attention to Pharmacan(Cronos), I changed the ibox and got the board's ticker updated. I updated to PRMCF rather than MJN because, well I'm American lol. My only gripe about that is that the news releases don't update on this board. They do update on the other Cronos board tho. Shrugs...for those that bought on the Canadian side and want to discuss/track pps in cad I guess it could be useful, but to me it just seems alittle confusing and redundant.
Rumor mill: Cronos in Poland?
DISCLAIMER: I got this all from online discussion. Nothing proven yet!
This pic was posted on Cronos CEO Mike Gorenstein's personal instagram.
It's a picture of the Tomb of the Unknown Soldier in Warsaw.
In the photo, Mike has tagged other Cronos directors:
David Hsu - COO
Eric Klein - Head of Marketing
Jeff Jacobson - Head of Business Development at Cronos
Poland has recently started a medical program and has opened it's doors to cannabis imports. Peace Naturals is already GMP certified and shipping to Germany so it's definitely plausible they'd be a great fit for Poland's medical program as well. Also, Gorenstein lives with his team and literally lives and breathes this stuff so it's doubtful this was just a regular vacation at this point and time. Right now this is just speculation but we may be hearing of a Poland distro deal soon!
Same company, just post here. No need for two boards really.
RSI reset
No idea really. I'm holding another one, Vinergy, that's been halted since May 2017. Funny thing with that one is it's halted on the Canadian side but it's trading on the OTC.
The entire sector is correcting today. The pullback has nothing to do with Cronos. It's still the same company it was last week and once the sector wide correction is done I'm sure Cronos' pps will increase.
Numbers posted on the OTC markets page could be outdated. O/S count is from October 2017 and float from 2016. Someone needs to contact IR or transfer agent for updated numbers including the additional 30mm shares.
LGC Launches JV Company with Creso Pharma and Baltic Beer Company to Capitalize on Growing Cannabis-Derived Beverage Market
http://clients3.weblink.com.au/pdf/CPH/01940534.pdf
https://www.weednewswire.com/2018/01/11/lgc-launches-jv-company-with-creso-pharma-and-baltic-beer-company-to-capitalize-on-growing-cannabis-derived-beverage-market/
I just started looking into this LGC and then they announced a joint venture with Creso Pharma and Baltic Beer Company to create cannabis beers. They plan to create four beers for April/May 2018 and commercial sales third quarter 2018.