Cronos Announces Upsizing of Private Placement of Common Shares

September 18, 2017

Cronos Announces Upsizing of Private Placement of Common Shares

NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES

TORONTO, Sept. 18, 2017 /CNW/ – Further to its press release on September 14, 2017, Cronos Group Inc. (“Cronos” or the “Company“) (TSX Venture: MJN) (OTC – Nasdaq International Designation: PRMCF) is pleased to announce that, due to increased investor demand, the Company is increasing its previously announced non-brokered private placement, from total gross proceeds of up to $10,000,000 to total gross proceeds of up to $15,000,000 (the “Offering“).  The Offering will now consist of up to 6,666,667 common shares (the “Offered Shares“) at a price of $2.25 per Offered Share.                                                      

The net proceeds from the Offering will primarily be used for working capital and general corporate purposes and to fund the continued expansion of the Company’s production capacity.  The Offered Shares will be subject to a statutory hold period lasting four months and one day following the Closing Date (as defined below).  Closing of the Offering is expected to occur on or about September 22, 2017 (the “Closing Date“).  The Offering is subject to certain conditions   including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange, and such further restrictions as may apply under foreign securities laws.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States.  The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.

About Cronos Group

Cronos Group is a geographically diversified and vertically integrated cannabis company that operates two wholly-owned Licensed Producers (“LPs”) regulated within Health Canada’s Access to Cannabis for Medical Purposes Regulations (the “ACMPR”) and holds a portfolio of minority investments in other Licensed Producers. The Company’s flagship LPs, Peace Naturals Project Inc. (Ontario) and In The Zone Produce Ltd. (British Columbia), are collectively situated on over 125 acres of agricultural, licensed land. Cronos Group is focused on building an international iconic brand portfolio, providing patients with compassionate and personalized care, and creating value for our shareholders.

Forward-looking statements

This news release may contain “forward-looking information” and “forward-looking statements” within the meaning of applicable Canadian securities legislation.  All information contained herein that is not clearly historical in nature may constitute forward-looking information.  Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, uncertainties and contingencies that may cause actual financial results, performance or achievements to be materially different from the estimated future results, performance or achievements expressed or implied by those forward-looking statements and the forward-looking statements are not guarantees of future performance.  Except as required by law, Cronos Group disclaims any obligation to update or revise any forward-looking statements. Readers are cautioned not to put undue reliance on these forward-looking statements.  This news release contains information obtained by Cronos Group from third parties.  Cronos Group believes such information to be accurate but has not independently verified such information.

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CONTACT INFORMATION

The Cronos Group.
Michael Krestell
Investor & Media Relations
(647) 274-3655
michael@thecronosgroup.com

76 Stafford Street, Suite 302

Toronto, Ontario M6J 2S1

Info@TheCronosGroup.com
Careers@TheCronosGroup.com

(416) 504-0004