The more DD unearthed and shared, the better...Especially with this ticker...
June 2016
Garnock increases his investment in PharmaCan/Cronos to 7%, buying 3.6m shares at .18 and the same amount in warrants.
(I think he also exercised warrant for another 400k shares.)
December 2018
Altria Group invest C$2.4 billion equity in Cronos. Share price goes to $22.
Garnock's shares leap to $67m.
What makes all the Garnock/Cronos stuff so tantalizing is not just the sheer amount of money Garnock made. But that he is also the kind of backer who is not afraid to double his investment when he likes what he sees.
It is interesting to look over how Cronos grew with mergers, acquisitions, JVs, etc. Very similar to Anshu’s game plan for Vrus. Cronos had two wholly owned subsidiaries focusing on medical and recreational marijuana and stakes in: Whistler Medical Marijuana Corporation, ABcann Medicinals Inc., Hydropothecary, Evergreen, Vert Medical, and Cannmart. They even created ‘Cronos Israel’ to grow medical cannibis on a kibbutz. (Pot Shabbats are a real thing.]
Worth nothing that PharmaCan did a reverse takeover with Hortican after doing a 7:1 reverse split. (It's called 'consolidating your shares' when it leads to more value, not dilution.) All this reverse split talk is OTC boogeyman nonsense when you're dealing with growth plays with real funds and momentum.
Cronos CEO Michael Gorenstein and board member Jason Adler were Garnock colleagues from their time together at Alphabet Ventures, LLC. A bunch of very smart guys who all made millions growing scrappy disruptive companies into global powerhouses.
The fact that Anshu convinced Garnock to invest with such commitment is a massive statement of confidence in the CEO to say the least.
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