Cronos Group Announces $51M Investment In GrowCo Expansion; Secured Credit Facility To Fund Cannabis Facility Growth; GrowCo Board To Expand With Three Cronos-Appointed Members
Portfolio Pulse from Benzinga Newsdesk
Cronos Group has announced a $51 million investment in GrowCo's expansion, including a secured credit facility to fund the growth of a cannabis facility. Cronos will gain an option to purchase up to 70% of the expanded facility's production, and financial consolidation of the joint venture will begin in Q3 2024. Additionally, the GrowCo board will expand with three Cronos-appointed members.
June 20, 2024 | 12:59 pm
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Cronos Group's $51 million investment in GrowCo's expansion and the secured credit facility are likely to enhance its production capabilities and revenue potential. The option to purchase up to 70% of the expanded facility's production and the financial consolidation starting in Q3 2024 are positive indicators for future growth.
The investment and secured credit facility will likely boost Cronos Group's production capabilities and revenue potential. The option to purchase a significant portion of the expanded facility's production and the upcoming financial consolidation are strong indicators of future growth, making this news highly relevant and important for investors.
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