PharmaCan Announces Corporate Rebranding to Cronos Group
By Marijuana.Ca Staff Ι Friday, October 7, 2016
PharmaCan Capital announced in a press release yesterday a corporate rebranding to Cronos Group. The new branding reflects the vision of the company as Canada's first bi-coastal licensed marijuana producer with interests in five licensed producers and three applicants.
"The rebranding was inspired by Greek mythology. As patron of the harvest, Cronos' rule ushered in the 'Golden Age' and bountiful, healthy harvests. This new name allows us to emphasize our strategic vision of efficiently producing premium marijuana and distributing it across Canada and around the world," said Cronos Group's CEO, Mike Gorenstein.
The company also announced two new members to the Cronos team. David Hsu, whose expertise include operational restructuring, lean manufacturing and growth creation, joined Cronos Group as Head of Operations. As well, William Hilson, a Certified Public Accountant with over 15 years experience in publicly listed multinational pharmaceutical companies, joined the team as Chief Financial Officer.
"With our new team of seasoned industry experts and collection of diverse assets within a rapidly developing multi-billion-dollar industry, the Cronos Group is well positioned to realize optimal value for our shareholders in the impending 'Golden Age' of the cannabis industry," said Jason Adler, a director of Cronus Group.
The ticker for Cronos Group's common stock listed on the TSX Venture Exchange will continue to be "MJN".
About Cronos Group
Cronos Group is a holding company for Licensed Producers under Canada's Marihuana for Access to Cannabis for Medical Purposes Regulations ("ACMPR"). With interests in five licensed producers and three license applicants, Cronos Group is focused on building iconic brands providing patients with compassionate, personalized care.
The Peace Naturals Project, a wholly-owned subsidiary, mandated to produce product of the highest medicinal value, is licensed to produce up to 2,500 Kg per year and is located on 95-acres of land in Ontario, its current grow facilities are approximately 38,000 square feet. The Company's other wholly-owned subsidiary, In the Zone Produce Inc., is licensed to produce up to 100 Kg per year and is located on 31 acres of land in the Okanagan Valley, BC, with plenty of space for expansion of current facilities.
The Company also has stakes in: Whistler Medical Marijuana Corporation, ABcann Medicinals Inc., Hydropothecary, Evergreen, Vert Medical, and Cannmart.
For more information, please visit www.theCronosGroup.com.