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BRIEF-Cronos Group And Medipharm Labs Enter Cannabis Concentrate Supply Agreement

Published 2019-05-14, 07:11 a/m
Updated 2019-05-14, 07:20 a/m
© Reuters.  BRIEF-Cronos Group And Medipharm Labs Enter Cannabis Concentrate Supply Agreement

May 14 (Reuters) - Cronos Group Inc CRON.TO :

* CRONOS GROUP AND MEDIPHARM LABS ENTER CANNABIS CONCENTRATE SUPPLY AGREEMENT

* CRONOS GROUP INC - MEDIPHARM LABS WILL SUPPLY CRONOS GROUP WITH APPROXIMATELY $30 MILLION OF HIGH-QUALITY PRIVATE LABEL CANNABIS CONCENTRATE

* CRONOS GROUP INC - SUPPLY CAN POTENTIALLY GO UP TO $60 MILLION OVER 24-MONTHS

* CRONOS GROUP INC - CO AND MEDIPHARM LABS HAVE ENTERED INTO A MULTI-YEAR TOLLING AGREEMENT TO FULFILL CERTAIN ADDITIONAL PROCESSING NEEDS OF CO

* CRONOS GROUP INC - CRONOS GROUP AND MEDIPHARM LABS HAVE ALSO ENTERED INTO A MULTI-YEAR TOLLING AGREEMENT

* CRONOS GROUP INC - PEACE NATURALS WILL ALSO HAVE A RIGHT OF FIRST OFFER TO PURCHASE AN ADDITIONAL APPROXIMATELY $18 MILLION OF CANNABIS CONCENTRATE

* CRONOS - DEAL INCLUDES OPTION FOR MUTUAL EXTENSION WHERE, IF EXTENDED, PEACE NATURALS WOULD ALSO PURCHASE MINIMUM OF ABOUT $6 MILLION OF CONCENTRATE

* CRONOS GROUP - AGREEMENT INCLUDES OPTION FOR MUTUAL EXTENSION WHERE PEACE NATURALS WOULD ADDITIONALLY PURCHASE MINIMUM OF ABOUT $6 MILLION OVER 6 MONTHS

* CRONOS GROUP INC - TOLLING AGREEMENT HAS A TWO-YEAR TERM.

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