Cronos Cannabis Co. Will Provide $51M To GrowCo Toward Facility Expansion Fund
Portfolio Pulse from Jelena Martinovic
Cronos Group Inc. (NASDAQ:CRON) announced a $51 million investment in its joint venture, Cronos Growing Company, to expand its cannabis cultivation facility in Ontario. The investment will be funded through a secured non-revolving credit facility. Cronos will have significant purchasing options and board representation in GrowCo.
June 20, 2024 | 5:04 pm
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Cronos Group Inc. (NASDAQ:CRON) is investing $51 million in its joint venture, Cronos Growing Company, to expand its cannabis cultivation facility. This move is expected to enhance production capacity and provide significant purchasing options for Cronos.
The $51 million investment in GrowCo will likely enhance Cronos' production capacity and market reach. The secured credit facility and significant purchasing options indicate a strategic move to consolidate its position in the cannabis market.
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