Cronos Group Inc. Reports Q3 2017 Financial Results

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[{"type":"text","content":"\n\n\n\nCronos Group Inc. Reports Q3 2017 Financial Results\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, Nov. 29, 2017\n\n\n\n\n962% increase in Q3 2017 revenue over the comparable prior year period \nEstablishing low-cost capacity through joint venture in Israel \nStrengthened liquidity position by $72.3 million since the start of Q3 2017 \nPositive cash flow from operations in the quarter ended September 30, 2017 \n\n\n\nTORONTO, Nov. 29, 2017 /CNW/ - Cronos Group Inc. (TSX-V: MJN) (OTC Nasdaq International Designation: PRMCF) (\"Cronos Group\" or the \"Company\") today reported financial results for the third quarter ended September 30, 2017.  Financial results and the management discussion and analysis are available on the Company's website (www.thecronosgroup.com) and SEDAR (www.sedar.com).\n\n\n \n \n\n \n\"We have successfully transformed the Company over the past year and a half. We are now focused on executing our strategy to generate accelerated revenue growth and create long term shareholder value,\" says Mike Gorenstein, CEO of Cronos Group.\n\nQUARTERLY BUSINESS HIGHLIGHTS AND RECENT DEVELOPMENTS POST QUARTER-END\n\nSubstantial increase in revenue\n\nThe Company generated $1.3 million in revenue during the three-month period ended September 30, 2017, an increase of 104% quarter-over-quarter and an increase of 962% year-over-year.\n\nExpanding capacity and establishing a low-cost, global production footprint\n\nCronos IsraelIn September 2017, the Company announced a joint venture with Israeli agricultural collective settlement Gan Shmuel (\"Gan Shmuel\") to produce and distribute medical cannabis in Israel.  Israel has an ideal growing climate for cannabis with abundant sunlight to support year-round greenhouse cultivation without the need for supplemental lighting. Cronos Israel anticipates producing high quality cannabis at significantly lower production costs than production costs in Canada due to Israel's favorable growing climate and Gan Shmuel's skilled labor force, existing manufacturing infrastructure, and...

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