Cronos Group enters joint venture to expand cannabis production in Ontario
Cronos Group has entered into a joint venture partnership with a group of investors led by Bert Mucci - the Greenhouse Partners -, one of Canada's greenhouse operators and builders. This partnership will function through a newly formed entity, Cronos Growing Company, which will develop, construct and operate a purpose-built greenhouse for cannabis production in Kingsville, Ontario. Cronos GrowCo is a 50/50 partnership between the company and the Greenhouse Partners. Cronos GrowCo plans to develop an approximately 850,000 square foot custom-built greenhouse on about 100 acres of land owned by Cronos GrowCo in the greenhouse region of Kingsville, Ontario. Cronos Group expects that once the facility is fully operational and licensed, it will produce approximately 70,000 kilograms of cannabis per annum for Cronos GrowCo.