Feb 24, 2020

Cronos Group delays release of earnings results; does not give reason

Medical marijuana is shown in Toronto on November 5, 2017. The Canadian Press/Graeme Roy

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TORONTO — Cronos Group Inc. is delaying the release of its fourth-quarter and full-year financial results.

The cannabis company says it has had a delay in the completion of its financial statements.

It did not further explain the cause of the postponement.

Cronos had been scheduled to release its results on Thursday.

Marlboro maker Altria Group Inc. is the largest shareholder in the Canadian cannabis producer.

The big tobacco company paid $2.4 billion for an approximately 45 per cent stake in Cronos and has the ability to increase its stake to 55 per cent for an additional $1.4 billion.

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