TORONTO, ON–(Marketwired – January 23, 2017)
PharmaCan Capital Corp., doing business as Cronos Group (TSX VENTURE: MJN) (“Cronos” or the “Company”), seeks shareholder approval to formally change its name to “Cronos Group Inc.” following the corporate rebranding announced on October 6, 2016.
The Company’s board of directors has unanimously approved the name change and recommends that shareholders vote in favour of the name change at the special meeting of shareholders scheduled for February 24, 2017.
Completion of the name change is subject to certain conditions, including shareholder approval and the approval of the TSX-V. The Company intends to complete the name change as soon as practicable following receipt of the requisite shareholder approval. Following the name change, the Company will continue to trade under the symbol “MJN” on the TSX-V.
Details of the special meeting of shareholders to approve the name change will be set out in Cronos’ management information circular that will be mailed to shareholders. The circular and related proxy materials will be filed and available on SEDAR at www.sedar.com.
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 and ACMPR applicants. 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 land and are currently licensed to produce 2,600 kg of cannabis on an annual basis. The Company also holds minority equity positions in Licensed Producers Whistler Medical Marijuana, Hydropothecary, and Abcann Medicinals. With interest in five Licensed Producers and two LP applicants, Cronos Group is focused on building an iconic brand portfolio, providing patients with compassionate and personalized care, and creating value for our shareholders.
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, the Company 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 the Company from third parties and 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.
For more information, please visit www.thecronosgroup.com.
The Cronos Group.
Investor & Media Relations
(416) 603-7381 EXT #236