Cronos Group Reports 2024 First Quarter Results
TORONTO, May 09, 2024 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), today announces its 2024 first quarter business results.
- Cronos Growing Company Inc. ("Cronos GrowCo") reported to the Company preliminary unaudited net revenue to licensed producers, excluding sales to the Company, of approximately $5.1 million in the first quarter of 2024.
- Cronos previously provided Cronos GrowCo with a senior secured credit facility, which currently has approximately $67.1 million outstanding following a principal repayment of $1.2 million by Cronos GrowCo in Q1 2024.
- In addition to principal repayment, Cronos also received $1.4 million in interest payments from Cronos GrowCo, totaling approximately $2.7 million in cash payments to Cronos in Q1 2024.
- Before becoming Head of Cronos Israel, he was the Vice President of Finance at Cronos Israel managing the Cronos Israel finance department.