Cronos subsidiary receives GMP certification

 

2017-05-02 16:50 ET - News Release

 

Mr. Mike Gorenstein reports

PEACE NATURALS AWARDED GMP CERTIFICATION FORTIFYING GLOBAL DISTRIBUTION

Following a comprehensive audit, Cronos Group Inc.'s wholly owned licensed producer, the Peace Naturals Project Inc., has been issued a Good Manufacturing Practice (GMP) certification in accordance with the rules governing medicinal products in the European Union. This GMP certification enables Peace to distribute medical cannabis across the European Union as additional markets come on-line.

The comprehensive GMP review was conducted by German regulators and health inspectors from the European Union and included the additional certification of Peace's newest purpose-built production infrastructure. The European GMP certification is one of the highest standards a pharmaceutical manufacturer can meet for medicinal products, and indicates an adherence to detailed guidelines that extend well beyond the current Health Canada requirements for ACMPR licensed producers.

"This is an incredible milestone that further differentiates Peace as an industry leader focused on setting the international gold standard. As a GMP certified LP, Peace is uniquely situated to capitalize on our first mover advantage and reaffirm our position as a leader in the space by extending our global distribution network. Two continents down, four to go," said Mike Gorenstein, Chief Executive Officer of Cronos.

About Cronos Group

Cronos Group, is a geographically diversified and vertically integrated cannabis company that operates two wholly-owned Licensed Producers ("LPs") regulated within Health Canada's Access to Cannabis for Medical Purposes Regulations (the "ACMPR") and holds a portfolio of minority investments in other Licensed Producers. The Company's flagship LPs, Peace Naturals Project Inc. (Ontario), and In The Zone Produce Ltd. (British Columbia) are collectively situated on over 125 acres of agricultural land and are currently licensed to produce 2,600 kg of cannabis on an annual basis. The Company also holds minority equity positions in Whistler Medical Marijuana and other Licensed Producers. Cronos Group is focused on building an international iconic brand portfolio, providing patients with compassionate and personalized care, and creating value for our shareholders.

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