Brief: Cronos Group Reports 2023 Second Quarter Results

Cronos

08/08/2023 13:32

Aug 8 (Reuters) - Cronos Group Inc  CRON.TO :
    * CRONOS GROUP REPORTS 2023 SECOND QUARTER RESULTS
    * CRONOS GROUP- TO DISCONTINUE PROVIDING NET REVENUE
GUIDANCE, TO
WITHDRAW PREVIOUSLY ANNOUNCED NET REVENUE TARGET OF $100 TO $110
MILLION FOR FY
    * CRONOS GROUP INC - PLANNED WIND-DOWN OF CRONOS
FERMENTATION
FACILITY IN WINNIPEG, MANITOBA, CANADA, WITH INTENTIONS TO LIST
FACILITY FOR SALE
    * CRONOS GROUP INC - EXPECTS TO CONTINUE TO OPERATE CRONOS
FERMENTATION FACILITY WITH A PHASED REDUCTION AND PLANNED EXIT
BY END OF 2023
    * CRONOS GROUP INC - EXIT OF CRONOS FERMENTATION FACILITY,
OPERATING EXPENSE REDUCTIONS WILL CAPTURE AN INCREMENTAL $10 TO
$15 MILLION IN FY SAVINGS IN 2024

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