Cronos Group Inc (NASDAQ: CRON) Issues Its Weekly MTCO Report

Cronos Group Inc (NASDAQ: CRON) recently announced that it applied for a  management cease trade order. The company applied for the order with authorities in Canada, stating that the company will be unable to file its form 10-Q, its quality report for the concluded September 30, 2021 period.

The company cannot trade its securities directly or indirectly

The company cannot file its quarterly report with the U.S. securities and exchange commission and the quarterly filings in Canada within the prescribed filings.

On November 16, 2021, an order restricted every company trading in the company’s securities either directly or indirectly by the company’s chief executive officer and chief financial officer.

The order will be effective two business days after the company files the required filings needed under the N.P. 12-203. The management ceases trade order does not affect or restrict any shareholder or consumer from trading with the company.

Cronos states that there are no major alterations to its original announcement

The company continues to work diligently to finalize the necessary fillings by January 2022.

Cronos Group assures its shareholders that there is no serious alteration to information issued by the original announcement that hasn’t been disclosed.

It also reiterates that it has passed a few of the conditions set out in the N.P. 12-203, such as fulfilling its obligations under the threshold, no other reported defaults by the company since its inception, and all material information involving the company has been issued.

The company, vows to satisfy the provisions of the alternative information guidelines that have been set in the N.P. 12-203 and is still in default of the mandate to file the required filings.

Cronos Group Inc is a cannabinoid company that offers services and products across five continents, making it a global organization. The company is committed to developing disruptive intellectual property by assisting in cannabis research and product management.

Its iconic brand portfolio elevates clients’ experience, who in turn understand the company’s passion for doing so. The portfolio includes platforms such as PEACE NATURALS, three U.S. hemp-derived CBD brands, Lord Jones, and two adult-use brands, Cove and Spinach. In addition, a consumer can get further information about the company through its website thecronosgroup.com.