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Cronos Group announced it completed a bought deal public offering worth nearly C$100 million, for 10,420,000 common shares at a price of C$9.6 per share.

Cronos Group (NASDAQ:CRON; TSXV:CRON) announced it completed a bought deal public offering worth nearly C$100 million, for 10,420,000 common shares at a price of C$9.6 per share.

As quoted in the press release:

The Offering was underwritten by a syndicate co-led by GMP Securities L.P. and BMO Capital Markets and including Cormark Securities Inc., Beacon Securities Limited and PI Financial Corp.

The Company intends to use $15.0 million of the net proceeds of the Offering for capital expenditures relating to international operations and capacity expansion, and the remaining net proceeds of the Offering for general working capital purposes, including working capital for the Company’s international operations, and as capital on hand for potential new investment opportunities.

Click here to read the full press release.

Source: www.newswire.ca

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