Business
Cronos Announces Upsizing of Private Placement of Common Shares
Cronos Announces Upsizing of Private Placement of Common Shares Canada NewsWire ...
About this update from Cronos Group Inc
[{"type":"text","content":"\n\n\n\nCronos Announces Upsizing of Private Placement of Common Shares\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, Sept. 18, 2017\n\n\n\n/NOT FOR DISSEMINATION IN THE UNITED STATES OR THROUGH UNITED STATES NEWSWIRE SERVICES/\n\n\n\nTORONTO, Sept. 18, 2017 /CNW/ - Further to its press release on September 14, 2017, Cronos Group Inc. (\"Cronos\" or the \"Company\") (TSX Venture: MJN) (OTC – Nasdaq International Designation: PRMCF) is pleased to announce that, due to increased investor demand, the Company is increasing its previously announced non-brokered private placement, from total gross proceeds of up to $10,000,000 to total gross proceeds of up to $15,000,000 (the \"Offering\").  The Offering will now consist of up to 6,666,667 common shares (the \"Offered Shares\") at a price of $2.25 per Offered Share.                                                                           \n\n\n \n \n\n \nThe net proceeds from the Offering will primarily be used for working capital and general corporate purposes and to fund the continued expansion of the Company's production capacity.  The Offered Shares will be subject to a statutory hold period lasting four months and one day following the Closing Date (as defined below).  Closing of the Offering is expected to occur on or about September 22, 2017 (the \"Closing Date\").  The Offering is subject to certain conditions   including, but not limited to, the receipt of all necessary regulatory and stock exchange approvals, including the approval of the TSX Venture Exchange, and such further restrictions as may apply under foreign securities laws.\n\nThis news release does not constitute an offer to se...