TORONTO, Dec. 3, 2018 /CNW/ - Cronos Group Inc.
(NASDAQ: CRON) (TSX: CRON) ("Cronos Group" or the
"Company") today confirmed that it is engaged in discussions
concerning a potential investment by Altria Group Inc. (NYSE: MO)
("Altria Group") in Cronos Group. No agreement has been reached
with respect to any such transaction and there can be no assurance
such discussions will lead to an investment or other transaction
involving the companies.
About Cronos
Cronos Group is a globally diversified
and vertically integrated cannabis company with a presence across
five continents. Cronos Group operates two wholly-owned Canadian
licensed producers: Peace Naturals Project Inc., which was the
first non-incumbent medical cannabis license granted by Health
Canada, and Original BC Ltd., which is based in the Okanagan
Valley, British Columbia. Cronos
Group has multiple international production and distribution
platforms across five continents. Cronos Group intends to continue
to rapidly expand its global footprint as it focuses on building an
international iconic brand portfolio and developing disruptive
intellectual property. Cronos Group is committed to building
industry leading companies that transform the perception of
cannabis and responsibly elevate the consumer experience.
Forward-Looking Statements
This news release contains
"forward-looking information" and "forward-looking statements"
within the meaning of applicable securities laws (collectively,
"forward-looking statements"). All statements contained herein that
are not clearly historical in nature may constitute forward-looking
statements. In some cases, forward-looking statements can be
identified by words or phrases such as "may", "will", "expect",
"likely", "should", "would", "plan", "anticipate", "intend",
"potential", "proposed", "estimate", "believe" or the negative of
these terms, or other similar words, expressions and grammatical
variations thereof, or statements that certain events or conditions
"may" or "will" happen, or by discussions of strategy.
Forward-looking statements include estimates, plans, expectations,
opinions, forecasts, projections, targets, guidance or other
statements that are not statements of historical fact.
Forward-looking statements are provided for the purposes of
assisting the reader in understanding our financial performance,
financial position and cash flows as at and for periods ended on
certain dates and to present information about management's current
expectations and plans relating to the future and the reader is
cautioned that such information may not be appropriate for any
other purpose. Some of the forward-looking statements contained in
this press release, include, but are not limited to, statements
with respect to: a potential investment by Altria Group in Cronos
Group, continued discussions with Altria Group regarding a
potential investment in, or other transaction with, Cronos Group,
whether any discussions between Altria Group and Cronos Group
statements will lead to an investment or other transaction
involving the companies, our business and operations, our strategy
for future growth, expanding our global footprint, including the
timing thereof, our intention to build an international iconic
brand portfolio and develop disruptive intellectual property and
our ability to build an industry leading company that transforms
the perception of cannabis and responsibly elevates the consumer
experience. No forward-looking statement can be guaranteed and
Cronos Group cannot guarantee the future statements contained
herein. In particular, Cronos is unable to guarantee that
discussions with Altria Group with respect to a potential
investment in Cronos Group will continue or, if such discussions do
continue, whether such discussions will lead to an investment or
other transaction involving the companies or, if such discussions
are successful, the terms and timing of any such transaction.
Forward-looking statements are based upon certain material
assumptions that were applied in drawing a conclusion or making a
forecast or projection, including management's perceptions of
historical trends, current conditions and expected future
developments, as well as other considerations that are believed to
be appropriate in the circumstances. While we consider these
assumptions to be reasonable based on information currently
available to management, there is no assurance that such
expectations will prove to be correct. By their nature,
forward-looking statements are subject to inherent risks and
uncertainties that may be general or specific and which give rise
to the possibility that expectations, forecasts, predictions,
projections or conclusions will not prove to be accurate, that
assumptions may not be correct and that objectives, strategic goals
and priorities will not be achieved. A variety of factors,
including known and unknown risks, many of which are beyond our
control, could cause actual results to differ materially from the
forward-looking statements in this press release. Such factors
include, without limitation, those discussed in the Company's
current MD&A and Annual Information Form, both of which have
been filed on SEDAR and can be accessed at www.sedar.com. Readers
are cautioned to consider these and other factors, uncertainties
and potential events carefully and not to put undue reliance on
forward-looking statements. Forward-looking statements contained
herein are made as of the date of this press release and are based
on the beliefs, estimates, expectations and opinions of management
on the date such forward-looking statements are made. The Company
undertakes no obligation to update or revise any forward-looking
statements, whether as a result of new information, estimates or
opinions, future events or results or otherwise or to explain any
material difference between subsequent actual events and such
forward-looking statements, except as required by applicable
law.
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SOURCE Cronos Group Inc.