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TORONTO, June 21, 2024 (GLOBE NEWSWIRE) — Cronos Group Inc. announces… (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”) announced that at its annual meeting of shareholders held yesterday, June 20, 2024 (the “Meeting”), shareholders holding a total of 274,097,252 common shares of the Company were voted in person or By proxy, which represents 71.75% of the total number of outstanding ordinary shares of the company.
Each of the directors listed as a nominee in the Company's definitive proxy statement dated April 26, 2024 was elected as a director of the Company, with each director receiving more than 93.4% of the votes cast in favor of his or her election. The detailed results of the vote to elect members of the Board of Directors were as follows:
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| Manager name | Number of shares voted | Percentage of shares voted | Number of shares withheld from voting | Percentage of shares withheld from voting |
| Jason Adler | 215,118,391 | 98.33% | 3,654,113 | 1.67% |
| Murray Garnick | 215,949,040 | 98.71% | 2,823,464 | 1.29% |
| Michael Gorenstein | 204,416,959 | 93.44% | 14,355,545 | 6.56% |
| Kamran Khan | 207,976,756 | 95.07% | 10,795,748 | 4.93% |
| Dominique Mayer | 208,048,529 | 95.10% | 10,723,975 | 4.90% |
| James Ruddick | 215,011,800 | 98.28% | 3,760,704 | 1.72% |
| Elizabeth Segar | 205,934,088 | 94.13% | 12,838,416 | 5.87% |
Shareholders also approved an advisory (non-binding) resolution on the compensation of the named executive officers of the Company, with 96.19% of the votes in favor of this resolution, and agreed to postpone the meeting to a later date to allow the Company to complete the meeting. Search for an independent auditor to succeed him.
At the time of the meeting, the Company had not completed the process of identifying the independent auditor and recommending his appointment to shareholders. Accordingly, Proposal No. (3) came regarding appointing an independent and registered public accounting firm to serve as the company’s independent auditor for the financial year ending on December 31, 2024 and authorizing the company’s Board of Directors (“the Board”) to determine and submit the independent auditor’s fees to the shareholders, with the approval of the shareholders. The meeting was postponed to allow the company to complete the search for an auditor to succeed him. At the resumed meeting, shareholders will be asked to vote on the appointment of the successor independent auditor and to authorize the Board of Directors to determine the successor independent auditor's fees. Once the successor auditor is identified, the Company will disseminate information to shareholders regarding the identity of the independent registered public accounting firm proposed to serve as the Company's independent auditor and to audit the Company's consolidated financial statements for the fiscal year ending December 31, 2024, as well as information relating to the reconvened meeting.
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For the complete results on all matters voted on at the meeting, please see the vote results report filed on the Company's SEDAR+ filing at www.sedarplus.com and the Company's Form 8-K filed on EDGAR at www.sec.gov/edgar.
About Kronos
Cronos is an innovative global cannabis industry company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion for responsibly elevating the consumer experience, Kronos is building a portfolio of distinctive brands. Cronos' diverse international brand portfolio includes Spinach®, PEACE NATURALS® and Lord Jones®. For more information about Cronos and its brands, please visit: thecronosgroup.com.
Forward-looking statements
This press release may contain information that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian and United States securities laws and court decisions (collectively, “forward-looking statements”). All information contained herein that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate” or “believe”. ” or the negative of these terms, or other similar expressions intended to identify forward-looking statements. Certain forward-looking statements contained in this press release include statements about Kronos' intent to build a portfolio of distinctive brands, develop disruptive intellectual property, identify and recommend the appointment of an independent successor auditor by shareholders and reconvene the meeting. Forward-looking statements are necessarily based on a number of estimates and assumptions that, although considered reasonable by management, are inherently subject to significant business, economic and competitive risks or financial results, results, performance or achievements expressed or implied by such forward-looking statements. Forward-looking guarantees of future performance. A discussion of certain material risks applicable to the Company can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2023, and Quarterly Report on Form 10-Q for the quarter ended March 31, 2024 which are filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.com and www.sec.gov/edgar, respectively. Any forward-looking statement included in this news release is made as of the date of this news release, and except as required by law, Cronos disclaims any obligation to update or revise any forward-looking statement. Readers are cautioned not to place undue reliance on any forward-looking statement.
For more information, please contact:
Shane Laidlaw
Investor relations
Phone: (416) 504-0004
investor.relations@thecronosgroup.com
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