Cronos Group files form 12b-25 on the Toronto Stock Exchange: CRON

TORONTO, March 02, 2020 (GLOBE NEWSWIRE) – Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (Cronos Group or the Company) announced today that it has filed a Form 12b-25 with the Securities and Exchange of the United States. Commission, granting the Company an extension of 15 days from the deadline for filing its annual report on form 10-K for the fiscal year ended December 31, 2019 (form 10-K).

The company was unable to complete its financial statements for fiscal 2019 due to ongoing review by the audit committee of the company's board of directors , with the assistance of external counsel and forensic accountants, of several purchases and sales of bulk resin products through the wholesale channel and the appropriateness of the recognition of the proceeds from these transactions. As previously announced, the Company has delayed its publication of fourth quarter and fiscal 2019 results and the conference call with investors, scheduled for Thursday, February 27, 2020. The Company plans to publish the results of fourth quarter and fiscal 2019 and file its Form 10-K promptly within the 15 calendar day extension period. However, there is no guarantee that the Company will be able to meet the extended filing deadline.

About Cronos Group Inc.
Cronos Group is an innovative global cannabinoid company with international production and distribution on five continents. Cronos Group is committed to creating disruptive intellectual property by advancing research, technology and product development in the cannabis.With a passion for responsibly elevating the consumer experience, Cronos Groupis is building an iconic brand portfolio.Cronos Groups the portfolio includes NATURALS OF PEACE, a global health and wellness platform, two brands intended for adults, CREEK and spinachand two brands of CBD derived from hemp, Lord Jones and PEACE +. For more information on Cronos Group and its brands, please visit: www.thecronosgroup.com

Forward-looking statements
This press release contains forward-looking information and statements within the meaning of applicable Canadian and American securities laws. All information contained in this document which is not clearly of a historical nature may constitute forward-looking information. In some cases, forward-looking statements may be identified by words or phrases such as may, will, predict, plan, anticipate, intend, potential, estimate, believe or negate these terms, or 39; other similar expressions intended to identify forward-looking statements. Some of the forward-looking statements contained in this press release include the company's ability to complete filing of Form 10-K within the 15-day extension period. Forward-looking statements are necessarily based on a number of estimates and assumptions which, while considered reasonable by management, are inherently subject to significant commercial, economic and competitive risks, uncertainties and contingencies that may result in the actual filing deadline for Form 10-K, financial. as the results, performances or achievements must be significantly different from the estimated future filing time, the results, performances or achievements expressed or implied by these forward-looking statements and the forward-looking statements are not guarantees of future performance. A discussion of some of the significant risks applicable to the company can be found in the company's management report and annual information form, which have both been filed on SEDAR and EDGAR and can be found at the following address: www.sedar.com and www.sec.gov/edgar, respectively. The forward-looking information included in this press release is provided as of the date of this press release and, unless required by law, the Cronos Group disclaims any obligation to update or revise any forward-looking statement. Readers are cautioned not to place undue reliance on these forward-looking statements.

Contact Cronos Group
Anna Shlimak
Tel: (416) 504-0004
[email protected]