1-Star Price
PREMIUM
5-Star Price
PREMIUM
Economic Moat
PREMIUM
Capital Allocation
PREMIUM
On June 14, Cronos announced that it had purchased an option to acquire 10.5% of privately held U.S. multistate operator PharmaCann on a fully diluted basis. PharmaCann operates six production facilities and 23 dispensaries across six states (New York, Illinois, Ohio, Maryland, Pennsylvania, and Massachusetts). Cronos paid $110.4 million for the option, which exercises upon a few factors, including a change to U.S. federal prohibition of high-THC cannabis.
Cronos Group, headquartered in Toronto, Canada cultivates and sells medicinal and recreational cannabis through its medicinal brand, Peace Naturals, and its two recreational brands, Cove and Spinach. Although it primarily operates in Canada, Cronos exports medical cannabis to Poland and Germany. In addition, it has entered joint ventures in Israel, Colombia, and Australia to drive further international cultivation and distribution growth. In the U.S. the company directly sells hemp-derived CBD and has an option to acquire 10.5% of U.S. multistate operator PharmaCann.
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