Cronos Group provided an update to investors about its cannabis investments.
Cronos Group (TSXV:MJN) provided an update to investors about its minority investments with cannabis.
As quoted in the press release:
Cronos is providing an update on its investments in Whistler Medical Marijuana Corporation (“Whistler”), The Hydropothecary Corporation (“Hydropothecary”), ABcann Medicinals Inc. (“ABcann”), Evergreen Medicinal Supply Inc. (“Evergreen”), and CannMart Inc. (“CannMart”).
As previously announced, Cronos recently completed its additional equity investment in Whistler and maintained the Company’s 21.5% equity position. This additional capital will assist Whistler with their announced 65,000 square foot expansion in Pemberton, British Columbia. This expansion is expected to be completed by spring of 2018 in advance of recreational legalization in Canada.
Cronos holds a minority equity position in Hydropothecary, which recently started trading on the Toronto Venture Exchange on March 21st, 2017 under the symbol “THCX”. Hydropothecary is the only licensed producer in Quebec and is currently operating and expanding on its 80 acres of land near Gatineau, QC.
Click here to read the full press release.