ADDED
As of February 23, 2026, there were 379,051,102 common shares of the Registrant issued and outstanding.
Exhibits, Financial Statement Schedules 123 Unless otherwise noted or the context indicates otherwise, references in this Annual Report on Form 10-K (this Annual Report ) to the Company, Cronos, we, us and our refer to Cronos Group Inc., its direct and indirect wholly owned subsidiaries and, if applicable, its joint ventures and investments accounted for by the equity method; the term cannabis means the plant of any species or subspecies of genus Cannabis and any part of that plant, including all derivatives, extracts, cannabinoids, isomers, acids, salts, and salts of isomers; the term U.S.
(Exchange rates are shown as C$ per $) As of December 31, 2025 2024 2023 Average rate 1.3975 1.3700 1.3494 Spot rate 1.3698 1.4351 1.3243 (Exchange rates are shown as ILS per $) As of December 31, 2025 2024 2023 Average rate 3.4432 3.6997 3.6819 Spot rate 3.1863 3.6526 3.6163 All summaries of agreements described herein are qualified by the full text of such agreements (certain of which are filed as exhibits hereto).
In some cases, Forward-Looking Statements can be identified by the use of forward-looking terminology, such as expect, likely, may, will, should, intend, anticipate, potential, proposed, estimate, believe, plan and other similar words, expressions and phrases, including negative and grammatical variations thereof, or statements that certain events or conditions may or will happen, or by discussion of strategy.
( High Tide ), as borrower, and a warrant (the High Tide Warrant ) to purchase common shares of High Tide, the performance of the High Tide Loan and the High Tide Warrant, and High Tide s ability to repay the High Tide Loan; expectations related to our agreement to acquire CanAdelaar B.V.
federal), state, provincial, territorial or local regulatory authorities or self-regulatory organizations; adverse changes in regulatory requirements in relation to our business and products; our failure to improve our internal control environment and our systems, processes and procedures; and the factors discussed under Part I, Item 1A Risk Factors in this Annual Report.
Business Segment Cronos reports through one consolidated segment, which includes operations in both Canada and Israel.
Cronos also consolidates the results of operations of Cronos GrowCo in its consolidated financial statements and maintains a 50% equity interest in Cronos GrowCo.
Cronos GrowCo s production facilities are licensed under the Cannabis Act and represent the Company s principal source of cannabis.
In Israel, Cronos operates under the Good Agricultural Practices ( IMC-GAP ), Good Manufacturing Practices ( IMC-GMP ) and Good Distribution Practices ( IMC-GDP ) certifications required for the cultivation, production, distribution and marketing of medical cannabis products in Israel.
REMOVED
As of February 24, 2025, there were 382,530,780 common shares of the Registrant issued and outstanding.
(Exchange rates are shown as C$ per $) As of December 31, 2024 2023 2022 Average rate 1.3700 1.3494 1.3017 Spot rate 1.4351 1.3243 1.3554 (Exchange rates are shown as ILS per $) As of December 31, 2024 2023 2022 Average rate 3.6997 3.6819 3.3566 Spot rate 3.6526 3.6163 3.5178 All summaries of agreements described herein are qualified by the full text of such agreements (certain of which are filed as exhibits hereto).
In some cases, Forward-Looking Statements can be identified by the use of forward-looking terminology, such as expect , likely , may , will , should , intend , anticipate , potential , proposed , estimate and other similar words, expressions and phrases, including negative and grammatical variations thereof, or statements that certain events or conditions may or will happen, or by discussion of strategy.
s investment in the Company (the Altria Investment ), pursuant to a subscription agreement dated December 7, 2018; uncertainties as to our ability to exercise our option (the PharmaCann Option ) in PharmaCann Inc.
( PharmaCann ), in the near term or the future, in full or in part, including the uncertainties as to the status and future development of federal legalization of cannabis in the U.S.
Cronos GrowCo Transaction On June 20, 2024 the Company announced an additional investment in Cronos Growing Company Inc.
( Cronos GrowCo ), a cannabis cultivation company previously accounted for by the Company as an equity method investee, to fund the expansion of its cultivation operations (the Cronos GrowCo Phase 2 Expansion ).
On July 1, 2024, Cronos obtained majority control of the board of directors of Cronos GrowCo, which qualified as a business combination under ASC 805 Accounting for Business Combination (the Cronos GrowCo Transaction ) and began consolidating Cronos GrowCo s results of operations in its financial statements.
Prior to July 1, 2024, the Company s investment in Cronos GrowCo consisted of an investment accounted for under the equity method and loans receivable from Cronos GrowCo.
Cronos GrowCo was formed in 2018, with the objective of cultivating and commercializing cannabis and cannabis products.