Cronos Extraction
About Cronos Extraction
Cronos Group's extraction division focuses on innovative cannabinoid research and processing, backed by Altria's strategic investment, with emphasis on biosynthetic cannabinoid production.
Key Facts
- 1Altria Group invested CAD $2.4 billion for a 45% stake, funding extraction technology R&D
- 2Partnered with Ginkgo Bioworks to develop fermentation-based production of rare cannabinoids
Latest News
Major Cannabis Stocks Plunge on Rescheduling Reality Check
TLRY, CGC, ACB, CRON, and OGI tumble as investors reassess limited impact of federal cannabis reclassification on Canadian operators and market fundamentals.
Cannabis Stocks Plunge as Rescheduling Optimism Fades
Major cannabis operators including TLRY, CGC, and ACB tumble as investors reassess limited impact from federal reclassification prospects.
Cronos Group Surges 970% Above Average Volume Amid $2.86 Trading
CRON experiences massive trading activity with 11.6M shares changing hands, representing a 10.7x spike from its typical volume despite 3.87% price decline.
Frequently Asked Questions
What is biosynthetic cannabinoid production?
Instead of extracting cannabinoids from plants, biosynthesis uses engineered yeast or bacteria to produce cannabinoids through fermentation, potentially at lower cost and higher purity.
Why did Altria invest in Cronos?
Altria, the tobacco giant behind Marlboro, invested in Cronos to gain exposure to the cannabis industry as a potential growth category amid declining cigarette sales.
More Cannabis Companies in Toronto
Products
- Cannabis Extracts
- Biosynthetic Cannabinoids
- Derivative Products
Specialties
Company Details
- Type
- Extraction
- Location
- Toronto, ON, Canada
- Founded
- 2012
- Publicly Traded
- Yes
- Ticker
- NASDAQ:CRON