Document and Entity Information
Document and Entity Information | 12 Months Ended |
Dec. 31, 2018shares | |
Document And Entity Information [Abstract] | |
Document Type | 40-F |
Amendment Flag | false |
Document Period End Date | Dec. 31, 2018 |
Document Fiscal Year Focus | 2018 |
Document Fiscal Period Focus | FY |
Trading Symbol | CRON |
Entity Registrant Name | Cronos Group Inc. |
Entity Central Index Key | 0001656472 |
Current Fiscal Year End Date | --12-31 |
Entity Current Reporting Status | Yes |
Entity Common Stock, Shares Outstanding | 178,720,022 |
Consolidated Statements of Fina
Consolidated Statements of Financial Position - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Current assets | ||
Cash | $ 32,634 | $ 9,208 |
Accounts receivable | 4,163 | 1,140 |
Sales taxes receivable | 3,419 | 3,114 |
Prepaids and other receivables | 3,876 | 790 |
Biological assets | 9,074 | 3,722 |
Inventory | 11,584 | 8,416 |
Loan receivable | 314 | 314 |
Total current assets | 65,064 | 26,704 |
Advances to joint ventures | 6,941 | |
Investments in equity accounted investees | 3,492 | 3,807 |
Other investments | 705 | 1,347 |
Property, plant and equipment | 171,891 | 56,172 |
Intangible assets | 11,234 | 11,207 |
Goodwill | 1,792 | 1,792 |
Total assets | 261,119 | 101,029 |
Current liabilities | ||
Accounts payable and other liabilities | 15,532 | 7,848 |
Holdbacks payable | 7,887 | |
Government remittances payable | 1,123 | 30 |
Construction loan payable | 20,951 | |
Total current liabilities | 45,493 | 7,878 |
Construction loan payable | 5,367 | |
Due to non-controlling interests | 2,136 | |
Deferred income tax liability | 1,850 | 1,416 |
Total liabilities | 49,479 | 14,661 |
Shareholders' equity | ||
Share capital | 225,500 | 83,559 |
Warrants | 1,548 | 3,364 |
Stock options | 6,241 | 2,289 |
Accumulated deficit | (22,715) | (3,724) |
Accumulated other comprehensive income | 930 | 880 |
Total equity attributable to shareholders of Cronos Group | 211,504 | 86,368 |
Non-controlling interests | 136 | 0 |
Total shareholders' equity | 211,640 | 86,368 |
Total liabilities and shareholders' equity | $ 261,119 | $ 101,029 |
Consolidated Statements of Oper
Consolidated Statements of Operations and Comprehensive Income (Loss) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Statement [Abstract] | ||
Gross revenue | $ 17,145 | $ 4,082 |
Excise taxes | (1,442) | |
Net revenue | 15,703 | 4,082 |
Cost of sales before fair value adjustments | 7,654 | 2,040 |
Gross profit before fair value adjustments | 8,049 | 2,042 |
Fair value adjustments | ||
Unrealized change in fair value of biological assets | (11,568) | (7,637) |
Realized fair value adjustments on inventory sold in the year | 8,349 | 2,449 |
Total fair value adjustments | (3,219) | (5,188) |
Gross profit | 11,268 | 7,230 |
Operating expenses | ||
Sales and marketing | 4,111 | 575 |
Research and development | 2,350 | |
General and administrative | 17,421 | 6,360 |
Share-based payments | 4,238 | 1,862 |
Depreciation and amortization | 1,256 | 541 |
Total operating expenses | 29,376 | 9,338 |
Operating loss | (18,108) | (2,108) |
Other income (expense) | ||
Interest income (expense) | 107 | (126) |
Share of income (loss) from investments in equity accounted investees | (936) | 165 |
Gain on other investments | 221 | 4,858 |
Total other income (expense) | (608) | 4,897 |
Income (loss) before income taxes | (18,716) | 2,789 |
Income tax expense | 489 | 298 |
Net income (loss) | (19,205) | 2,491 |
Net income (loss) attributable to: | ||
Cronos Group | (18,970) | 2,491 |
Non-controlling interests | (235) | |
Net income (loss) | (19,205) | 2,491 |
Other comprehensive income (loss) | ||
Gain on revaluation and disposal of other investments, net of tax | 46 | 947 |
Foreign exchange gain on translation of foreign operations | 4 | |
Unrealized gains reclassified to net income | (1,651) | |
Total other comprehensive income (loss) | 50 | (704) |
Comprehensive income (loss) | (19,155) | 1,787 |
Comprehensive income (loss) attributable to: | ||
Cronos Group | (18,920) | 1,787 |
Non-controlling interests | (235) | |
Comprehensive income (loss) | $ (19,155) | $ 1,787 |
Net income (loss) per share | ||
Basic | $ (0.11) | $ 0.02 |
Diluted | $ (0.11) | $ 0.01 |
Weighted average number of outstanding shares | ||
Basic | 172,269,170 | 134,803,542 |
Diluted | 172,269,170 | 176,789,161 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Equity $ in Thousands | CAD ($)shares | Issued capital [member]CAD ($)shares | Warrants [member]CAD ($) | Stock options [member]CAD ($) | Accumulated deficit [member]CAD ($) | Accumulated other comprehensive income [member]CAD ($) | Non-controlling interests [member]CAD ($) |
Balance at Dec. 31, 2016 | $ 33,677 | $ 33,590 | $ 3,983 | $ 735 | $ (6,215) | $ 1,584 | |
Balance, shares at Dec. 31, 2016 | shares | 121,725,748 | ||||||
Shares issued | 49,594 | $ 49,594 | |||||
Shares issued, shares | shares | 19,852,301 | ||||||
Share issuance costs | (2,767) | $ (2,767) | |||||
Vesting of options | 1,862 | 1,862 | |||||
Options exercised | $ 591 | $ 899 | (308) | ||||
Options exercised, shares | shares | 571,246 | 571,246 | |||||
Warrants exercised | $ 1,624 | $ 2,243 | (619) | ||||
Warrants exercised, shares | shares | 7,211,308 | ||||||
Net income (loss) | 2,491 | 2,491 | |||||
Other comprehensive income (loss) | (704) | (704) | |||||
Balance at Dec. 31, 2017 | 86,368 | $ 83,559 | 3,364 | 2,289 | (3,724) | 880 | |
Balance, shares at Dec. 31, 2017 | shares | 149,360,603 | ||||||
Shares issued | 146,032 | $ 146,032 | |||||
Shares issued, shares | shares | 15,677,143 | ||||||
Share issuance costs | (9,577) | $ (9,577) | |||||
Vesting of options | 4,238 | 4,238 | |||||
Options exercised | $ 584 | $ 746 | (162) | ||||
Options exercised, shares | shares | 597,379 | 377,698 | |||||
Warrants exercised | $ 2,800 | $ 4,616 | (1,816) | ||||
Warrants exercised, shares | shares | 13,114,336 | ||||||
Share appreciation rights exercised | (21) | $ 124 | (124) | (21) | |||
Share appreciation rights exercised, shares | shares | 190,242 | ||||||
Contribution by non-controlling interests | 371 | $ 371 | |||||
Net income (loss) | (19,205) | (18,970) | (235) | ||||
Other comprehensive income (loss) | 50 | 50 | |||||
Balance at Dec. 31, 2018 | $ 211,640 | $ 225,500 | $ 1,548 | $ 6,241 | $ (22,715) | $ 930 | $ 136 |
Balance, shares at Dec. 31, 2018 | shares | 178,720,022 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Operating activities | ||
Net income (loss) | $ (19,205) | $ 2,491 |
Items not affecting cash: | ||
Unrealized change in fair value of biological assets | (11,568) | (7,637) |
Realized fair value adjustments on inventory sold in the year | 8,349 | 2,449 |
Share-based payments | 4,238 | 1,862 |
Depreciation and amortization | 2,510 | 996 |
Share of loss (income) from investments in equity accounted investees | 936 | (165) |
Gain on other investments | (221) | (4,858) |
Deferred income tax expense | 489 | 298 |
Foreign exchange gain | (11) | |
Net changes in non-cash working capital | 4,744 | (984) |
Cash flows used in operating activities | (9,739) | (5,548) |
Investing activities | ||
Repayment of purchase price liability | (2,590) | |
Investments in equity accounted investees | (621) | (1,076) |
Investment in ABcann Global Corporation | (1,016) | |
Proceeds from sale of other investments | 967 | 10,879 |
Payment to exercise ABcann Global Corporation warrants | (113) | (2,268) |
Advances to joint ventures | (6,941) | 0 |
Purchase of property, plant and equipment | (114,407) | (42,701) |
Purchase of intangible assets | (360) | |
Cash flows used in investing activities | (121,475) | (38,772) |
Financing activities | ||
Proceeds from exercise of warrants | 2,800 | 1,624 |
Payments from share appreciation rights | (21) | |
Proceeds from exercise of options | 584 | 591 |
Proceeds from share issuance | 146,032 | 49,594 |
Share issuance costs | (9,577) | (2,767) |
Proceeds from construction loan payable | 15,007 | 6,304 |
Payment of accrued interest on construction loan payable | (185) | |
Repayment of mortgage payable | (4,000) | |
Transaction costs paid on construction loan payable | (1,282) | |
Cash flows provided by financing activities | 154,640 | 50,064 |
Net change in cash | 23,426 | 5,744 |
Cash - beginning of year | 9,208 | 3,464 |
Cash - end of year | 32,634 | 9,208 |
Supplemental cash flow information | ||
Interest paid | $ 870 | 200 |
Interest received | $ 22 |
Nature of business
Nature of business | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Nature of business | 1. Nature of business Cronos Group Inc. (the "Cronos Group" "Company" Business Corporations Act "TSX" "CRON" Cronos Group is an innovative global cannabinoid company, with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group’s brand portfolio includes PEACE NATURALS™, a global health and wellness brand, and two adult-use brands, COVE™ and Spinach™. The Company operates two wholly-owned license holders ( "License Holders" Cannabis Act "Cannabis Act" "Peace Naturals" "OGBC" Cronos Group has also entered into five strategic joint ventures in Canada, Israel, Australia, and Colombia, and holds minority interests in cannabis-related companies and License Holders. One of these strategic joint ventures is considered a subsidiary for financial reporting purposes, refer to Note 2(a). |
Basis of presentation
Basis of presentation | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Basis Of Presentation [Abstract] | |
Basis of presentation | 2. Basis of presentation These consolidated financial statements have been prepared in accordance with International Financial Reporting Standards (" IFRS "IASB" "IFRIC" These consolidated financial statements were approved by the Board of Directors (the "Board" 2. Basis of presentation (continued) (a) Basis of consolidation These consolidated financial statements include the accounts of Cronos Group Inc. and its subsidiaries, summarized in the following chart. Subsidiaries Jurisdiction of incorporation Incorporation date Ownership interest Hortican Inc. ( "Hortican" Canada January 17, 2013 100% Peace Naturals Project Inc. Canada November 21, 2012 100% Original BC Ltd. Canada March 15, 2013 100% Cronos Canada Holdings Inc. Canada March 13, 2018 100% Cronos Global Holdings Inc. Canada April 25, 2017 100% Cronos Israel G.S. Cultivations Ltd. ( i ) Israel February 4, 2018 70% Cronos Israel G.S. Manufacturing Ltd. ( i ) Israel September 4, 2018 90% Cronos Israel G.S. Store Ltd. ( i ) Israel June 28, 2018 90% Cronos Israel G.S. Pharmacies Ltd. ( i ) Israel February 15, 2018 90% Cronos Group Celtic Holdings Ltd. Ireland February 6, 2018 100% Cronos Malta Holdings Ltd. Malta October 25, 2018 100% ( i ) These Israeli entities are collectively known as "Cronos Israel" In the consolidated statements of operations and comprehensive income (loss), profit or loss and other comprehensive income are attributed to the equity holders of the Company and to the non-controlling interests. Non-controlling interests in the equity of Cronos Israel are presented separately in the shareholders' equity section of the consolidated statements of financial position and consolidated statements of changes in equity. (b) Investments in equity accounted investees Investees in which the Company has significant influence or joint control are accounted for using the equity method. The Company's investments in equity accounted investees are summarized in the following chart. Equity accounted investees Jurisdiction of incorporation Ownership interest Whistler Medical Marijuana Company ( "Whistler" Canada 19% (2017 - 20.3%) Cronos Australia Limited ( "Cronos Australia" Australia 50% MedMen Canada Inc. ( "MedMen Canada" Canada 50% Cronos Growing Company Inc. ( "Cronos GrowCo" Canada 50% NatuEra S.à r.l Luxembourg 50% (c) Basis of measurement Apart from biological assets and other investments, which are measured at fair value, the consolidated financial statements have been presented and prepared on the basis of historical cost. 2. Basis of presentation (continued) (d) Functional and presentation currency These consolidated financial statements are presented in Canadian dollars, which is the functional currency of the Company and all of its subsidiaries, with the exception of Cronos Israel which has a functional currency of the Israeli Shekel ( "ILS" (e) Estimates and critical judgments by management The preparation of these consolidated financial statements in conformity with IFRS requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, and the disclosure of contingent assets and liabilities at the date of the consolidated financial statements, and the reported amounts of revenues and expenses during the reporting period. These estimates are reviewed periodically and adjustments are made as appropriate in the year they become known. Items for which actual results may differ materially from these estimates are described in the following section. (i) Business combinations In determining the appropriate basis of accounting for an acquisition, judgment is used to determine if an acquisition is a business combination or an asset acquisition. (ii) Control, joint control, or level of influence In determining the appropriate basis of accounting for the Company’s interests in investees, judgment is applied regarding the degree to which the Company has the ability to exert influence directly or indirectly over the investees’ financial and operating activities. (iii) Warrants and stock options Warrants and stock options are initially valued at fair value, based on the application of the Black-Scholes option pricing model. This pricing model requires management to make various assumptions and estimates which are susceptible to uncertainty, including the volatility of the share price, expected dividend yield, expected term of the warrant or stock option and expected risk-free interest rate. (iv) Useful lives and impairment of long-lived assets Long-lived assets are defined as property, plant and equipment and intangible assets with finite lives. Depreciation and amortization are dependent upon estimates of useful lives and impairment is dependent upon estimates of recoverable amounts. These are determined through the exercise of judgment, and are dependent upon estimates that take into account factors such as economic and market conditions, frequency of use, anticipated changes in laws, and technological improvements. (v) Impairment of cash-generating units and goodwill The impairment test for cash generating units ( "CGUs" 2. Basis of presentation (continued) (e) Estimates and critical judgments by management (continued) (vi) Income taxes Income taxes and tax exposures recognized in the consolidated financial statements reflect management's best estimate based on facts known at the reporting date. When the Company anticipates a future income tax payment based on its estimates, it recognizes a liability. The difference between the expected amount and the final tax outcome has an impact on current and deferred taxes when the Company becomes aware of this difference. In addition, when the Company incurs losses for income tax purposes, it assesses the probability of taxable income being available in the future based on its budgeted forecasts. These forecasts are adjusted to take into account certain non-taxable income and expenses and specific rules on the use of unused credits and tax losses. When the forecasts indicate that sufficient future taxable income will be available to deduct the temporary differences, a deferred tax asset is recognized for all deductible temporary differences. (vii) Biological assets and inventory Biological assets, consisting of cannabis plants, are measured at fair value less costs to sell. At the point of harvest, the biological assets are transferred to inventory at fair value less costs to sell. As a result, critical estimates related to the valuation of biological assets are also applicable to inventory. Determining the fair value less costs to sell requires the Company to make assumptions about the expected harvest yield from the cannabis plants, the value associated with each stage of the plants' growth cycle, estimated selling price, processing costs to convert harvested cannabis into finished goods, selling costs, the equivalency factor to convert dry cannabis into cannabis oil and the multiples of crude extract and isolate mass in diluted cannabis oil. The Company's estimates are, by their nature, subject to change. Refer to Note 7. Inventory is valued at the lower of cost and net realizable value. Determining the net realizable value requires the Company to make assumptions about the estimated selling price in the ordinary course of business, the estimated costs of completion and the estimated variable costs to sell. (viii) Expected credit losses on financial assets Determining an allowance for expected credit losses ( "ECLs" (ix) Variable consideration in revenue from contracts with customers Determining the amount of variable consideration to recognize, and whether the amount of variable consideration should be constrained, is dependent on management's estimate of the most likely amount to which the Company will be entitled and the probability of a significant reversal in that amount. These determinations require management to make estimates based on historical amounts received, current economic conditions, and current industry conditions, in Canada and abroad, adjusted for forward looking information. (x) Returns from customers Revenue is measured net of returns. As a result, the Company is required to estimate the amount of returns based on the historical data by customer and product type, adjusted for forward-looking information. |
Significant accounting policies
Significant accounting policies | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Significant accounting policies | 3. Significant accounting policies The principal accounting policies applied to the preparation of these consolidated financial statements are set out below: (a) Revenue recognition Revenue is recognized at the transaction price, which is the amount of consideration to which the Company expects to be entitled in exchange for transferring promised goods to a customer. Gross revenue includes excise taxes, which the Company pays as principal, but excludes duties and taxes collected on behalf of third parties. Net revenue from sale of goods, as presented in the consolidated statement of operations and comprehensive income (loss), represents revenue from the sale of goods less applicable excise taxes, expected price discounts, and allowances for customer returns. Excise taxes are a production tax which become payable when a cannabis product is delivered to the customer and are not directly related to the value of revenue. The Company's contracts with customers for the sales of dried cannabis and cannabis oil consist of one performance obligation. The Company has concluded that revenue from the sale of these products should be recognized at the point in time when control is transferred to the customer, which is on shipment or delivery, depending on the contract. Customer contracts for international sales of dry cannabis include profit sharing arrangements with distributors which give rise to variable consideration. If the consideration in a contract includes a variable amount, the Company estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated as the most likely amount, based on the Company's historical information, at contract inception. The Company's payment terms vary by the type of customer. For individual consumer sales, payment is due prior to the transfer of control. For domestic non-consumer sales, payment is due 60 days after the transfer of control. For international sales, fixed consideration is due 30 days, and variable consideration is due a maximum of 120 days, after transfer of control, respectively. (b) Investments in equity accounted investees An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee without control or joint control over those decisions. Significant influence is presumed if the Company holds between 20% and 50% of the voting rights, unless evidence exists to the contrary. A joint venture is a type of joint arrangement whereby the Company has joint control over, and rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in associates and joint ventures are accounted for using the equity method. The Company's interest in an investee is initially recorded at cost and is subsequently adjusted for the Company's share of changes in the net assets of the investee, less any impairment in the value of individual investments, and any dividends paid. Where the Company transacts with an investee, unrealized profits and losses are eliminated to the extent of the Company's interest in that investee. (c) Biological assets and inventory The Company measures biological assets consisting of cannabis plants, at fair value less costs to sell up to the point of harvest. Costs incurred to transform biological assets to the point of harvest ( "production costs" 3. Significant accounting policies (continued) (c) Biological assets and inventory (continued) Inventories of finished goods and work-in-process are valued at the lower of cost and net realizable value. Inventories of harvested cannabis are transferred from biological assets at their fair value at the point of harvest, which becomes the initial deemed cost. Any subsequent post-harvest costs (" processing costs Upon the sale of inventory, the capitalized production costs and processing costs are recorded in cost of sales before fair value adjustments in the consolidated statement of operations and comprehensive income (loss). The related realized fair value adjustments on inventory sold in the year is recorded separately in the consolidated statement of operations and comprehensive income (loss) (d ) Intangible assets Intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses. Impairment for intangible assets with finite lives is tested if there is any indication of impairment. Intangible assets acquired through a business combination are measured at fair value at the acquisition date. Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates: Method Rate Software Double declining 50% Health Canada Licenses Straight-line Useful life of corresponding facilities Israeli Codes Straight-line Useful life of corresponding facilities Amortization begins when assets become available for use. The estimated useful life, amortization method, and rate are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. (e ) Research and development costs Research costs are expensed as incurred. Development expenditures are capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends, and has sufficient resources, to complete development and use or sell the product or process. All other development costs are expensed as incurred. 3. Significant accounting policies (continued) (f) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. The assets are depreciated over their estimated useful lives using the following methods and rates: Method Rate Building structures Straight-line 15 to 20 years Furniture and equipment Straight-line 5 years Computer equipment Straight-line 3 years Security equipment Straight-line 5 years Production equipment Straight-line 7 years Road Straight-line 25 years Leasehold improvements Straight-line 5 to 10 years Equipment under finance lease Straight-line Lesser of term of lease and useful life of equipment The estimated residual value, useful life and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate components. Construction in progress is transferred to the appropriate asset class when the building is available for use, which is defined as the point at which the building receives the Health Canada licenses to (i) possess cannabis, (ii) to obtain dried cannabis, fresh cannabis, cannabis plants or cannabis plant seeds by cultivating, propagating and harvesting cannabis, and (iii) to produce cannabis, other than obtaining it by cultivating, propagating, or harvesting. Depreciation commences at the point the assets are classified as available for use. (g) Provisions A provision is recorded when it becomes probable that a present obligation arising from a past event will require an outflow of resources that can be reliably estimated. The amount of the provision recorded, if any, is management's best estimate of the outflow of resources required to settle the obligation. Where a potential obligation resulting from past events exists, but occurrence of the outflow of resources is not probable or the estimate is not reliable, these contingent liabilities are disclosed as contingencies. (h) Share capital Share capital is presented at the fair value of the shares issued. Costs related to the issuance of shares are reported in equity, net of tax, as a deduction from the issuance proceeds. ( i ) Foreign exchange translation Translation of foreign currency transactions Transactions in foreign currencies are translated into the functional currency using the exchange rate prevailing at the date of the transaction. At each reporting date, foreign currency denominated monetary assets and liabilities are translated at year-end exchange rates. Exchange differences arising from operating transactions are recorded in profit or loss for the period; exchange differences related to financing transactions are recognized in finance income or directly in equity. Translation of foreign operations The assets and liabilities of Cronos Israel are translated into Canadian dollars at year-end exchange rates. Income and expenses, and cash flows are translated into Canadian dollars using average exchange rates. Differences resulting from translating foreign operations are reported as translation differences in other comprehensive income, and accumulated in equity. When a foreign operation is disposed of, the translation differences previously recognized in equity are reclassified to profit or loss. 3. Significant accounting policies (continued) (j) Income taxes The Company accounts for its income taxes using the liability method. Deferred income tax assets and liabilities are determined based on the difference between the carrying amount and the tax basis of the assets and liabilities. Any change in the net amount of deferred income tax assets and liabilities is included in profit or loss, except for changes related to the components of other comprehensive income or equity, in which case the tax expense is recognized in other comprehensive income or equity, respectively. Deferred income tax assets and liabilities are determined based on enacted or substantively enacted tax rates and laws which are expected to apply to taxable profit for the years in which the assets and liabilities will be recovered or settled. Deferred income tax assets are recorded when their recoverability is considered probable and are reviewed at the end of each reporting period. Deferred income tax assets and liabilities are not discounted. (k) Share-based payments Equity instruments granted are initially measured at fair value at the grant date. Where equity instruments are granted to employees, they are measured at the fair value of the equity instruments granted, determined using the Black-Scholes valuation model, which is recognized in the consolidated statement of operations and comprehensive income (loss) over the vesting period. Where equity instruments are granted to non-employees, they are measured at the fair value of the goods or services received. The related costs for all equity-settled stock-based payments are reflected in share-based reserve, until the instruments are exercised. Upon exercise, shares are issued from treasury and the amount previously reflected in the share-based reserve is, along with any proceeds paid upon exercise, credited to share capital. (l) Earnings (loss) per share The Company presents basic and diluted earnings (loss) per share data for its common shares. Basic earnings (loss) per share is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding, for the effects of all potentially dilutive common shares, which comprise warrants, stock options, and share appreciation rights. 3. Significant accounting policies (continued) (m) Financial instruments All financial instruments are initially recorded at fair value at the time of acquisition. The Company aggregates its financial instruments in accordance with IFRS 9, Financial Instruments, into classes based on their nature and characteristics. Management determines the classification when the instruments are initially recognized, which is normally the date of the transaction. The Company's accounting policy for each class of financial instruments is as follows: Classification Financial instruments Accounting policy Amortized cost Cash, accounts receivable, other receivables, loan receivable, advances to joint ventures, accounts payable and other liabilities, holdbacks payable, construction loan payable, due to non-controlling interests These financial instruments are initially recognized at fair value plus directly attributable transaction costs. Subsequently, these instruments are measured at amortized cost using the effective interest method. Financial assets are adjusted for any ECLs. ( i ) Fair value through profit or loss Other investments (investment in warrants of AbCann Global Corp.) These financial instruments are initially recognized at fair value; all transaction costs are recognized immediately in profit or loss. Subsequently, these instruments are recognized at fair value at each reporting date. Any changes in fair value, and gains or losses upon disposition of the financial instruments are recognized in profit or loss. Fair value through other comprehensive income (equity instruments) Other investments (investments in Canopy Growth Corporation, Evergreen Medicinal Supply Inc.) These equity instruments are irrevocably classified in this category, and are initially recognized at fair value, plus directly attributable transaction costs. Subsequently, these instruments are recognized at fair value at each reporting date. Any changes in fair value and gains or losses upon disposition of the financial instruments are recognized in other comprehensive income in the period during which the change occurs. ( i ) Critical to the determination of ECLs is the definition of default and the definition of a significant increase in credit risk. The definition of default is used in measuring the amount of ECLs and in the determination of whether the loss allowance is based on a 12-month or lifetime ECLs. The Company considers the following as constituting an event of default: the borrower is past due more than 90 days on any material credit obligation, or the borrower is unlikely to pay its credit obligations to the Company in full. The Company monitors all financial assets that are subject to the impairment requirements to assess whether there has been a significant increase in credit risk since initial recognition. If there has been a significant increase in credit risk, the Company will measure the loss allowance based on lifetime rather than 12-month ECLs. In assessing whether the credit risk on a financial asset has increased significantly since initial recognition, the Company compares the risk of a default occurring on the financial asset at the reporting date based on the remaining maturity of the instrument with the risk of a default occurring that was anticipated for the remaining maturity at the current reporting date when the financial asset was first recognized. (n) Business combinations and consolidation Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at fair value at acquisition date, and the amount of any non-controlling interests in the acquiree. Acquisition-related costs are expensed as incurred. All intercompany transactions and balances are eliminated upon consolidation. |
Adoption of new accounting pron
Adoption of new accounting pronouncements | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Initial Application Of Standards Or Interpretations [Abstract] | |
Adoption of new accounting pronouncements | 4. Adoption of new accounting pronouncements (a) Amendments to IFRS 2 Share-based payments The amendments to IFRS 2 clarify how to account for certain types of share-based payment transactions. The amendments provide requirements on the accounting for the effects of vesting and non-vesting conditions on the measurement of cash-settled share-based payments, share-based payment transactions with a net settlement feature for withholding tax obligations, and a modification to the terms and conditions of a share-based payment that changes the classification of the transaction from cash-settled to equity-settled. The effective date of these amendments was January 1, 2018. The Company has adopted these amendments as of the effective date and has assessed no significant changes as a result of the adoption of these amendments. (b) IFRS 15 Revenue from contracts with customers IFRS 15 was issued by the IASB in May 2014 and specifies how and when revenue should be recognized based on a five-step model, which is applied to all contracts with customers. IFRS 15 became effective for annual periods beginning on or after January 1, 2018, with early adoption permitted. The Company has adopted this new standard as of its effective date using the full retrospective method of adoption, and has assessed no significant changes as a result of the adoption of this new standard. Under IFRS 15, the revenue recognition model has changed from one based on the transfer of risks and rewards of ownership, to one based on the transfer of control. The Company’s contracts with customers for the sales of dried cannabis and cannabis oil include one performance obligation, a promise in a contract with a customer to transfer a good. As the transfer of risks and rewards generally coincides with the transfer of control at a point in time, upon shipment or delivery, depending on the contract, the timing and amount of revenue considering discounts, returns, and variable consideration, recognized from this principal revenue stream has not changed as a result of the adoption of this new standard. (c) IFRS 9 Financial instruments IFRS 9 addresses classification and measurement of financial assets and replaces the multiple category and measurement models in IAS 39 for debt instruments with a new mixed measurement model having only three categories: amortized cost, fair value through other comprehensive income, and fair value through profit or loss. IFRS 9 also replaces the models for measuring equity instruments and such instruments are either recognized at fair value through profit or loss or at fair value through other comprehensive income. The effective date of this standard was January 1, 2018. The Company has adopted this new standard as of its effective date on a retrospective basis with the exception of financial assets that were derecognized at the date of initial application, January 1, 2018. The 2017 comparatives were not restated. As a result of the new classification model and measurement requirements under IFRS 9, the Company has elected to classify the available-for-sale equity investments as fair value through other comprehensive income investments, as they are not held for trading by the Company. Under this classification, there is no recycling of gains or losses from accumulated other comprehensive income to profit or loss. Due to the adoption of IFRS 9, during the year ended December 31, 2018, a net gain of approximately $294 on the disposition of investments classified as fair value through other comprehensive income was recorded in other comprehensive income rather than profit or loss. These investments had a fair value of $961 immediately prior to disposition. The new classification and measurement of the Company's financial assets are as follows: (i) Equity instruments at fair value through other comprehensive income ( "FVOCI" This category only includes equity instruments, which the Company intends to hold for the foreseeable future and which the Company has irrevocably elected to so classify upon initial recognition or transition. The Company classified its quoted and unquoted equity instruments as equity instruments at FVOCI. Equity instruments in this category are subsequently measured at fair value with changes recognized in other comprehensive income, with no recycling of gains or losses to profit or loss upon derecognition. Dividend income is recognized in earnings. Equity instruments at FVOCI are not subject to an impairment assessment under IFRS 9. 4. Adoption of new accounting pronouncements (continued) (c) IFRS 9 Financial instruments (continued) (ii) Amortized cost This category includes financial assets that are held within a business model with the objective to hold the financial assets in order to collect contractual cash flows that meet the solely principal and interest ( "SPPI" (iii) Fair value through profit or loss ( "FVTPL" This category includes derivative instruments as well as quoted equity instruments which the Company has not irrevocably elected, at initial recognition or transition, to classify at FVOCI. This category would also include debt instruments whose cash flow characteristics fail the SPPI criterion or are not held within a business model whose objective is either to collect contractual cash flows, or to both collect contractual cash flows and sell. Financial assets in this category are recorded at fair value with changes recognized in profit or loss. The assessment of the Company's business models was made as of the date of initial application, January 1, 2018, and then applied retrospectively to those financial instruments that were not derecognized before January 1, 2018. IFRS 9 IAS 39 Financial assets Cash Amortized cost FVTPL Accounts receivable Amortized cost Amortized cost Other receivables Amortized cost Amortized cost Loan receivable Amortized cost Amortized cost Advances to joint ventures Amortized cost Amortized cost Other investments (Refer to Note 11) FVTPL - ABcann share warrants FVOCI - Canopy, ABcann shares, Evergreen FVTPL - ABcann share warrants Available-for-sale - Canopy, ABcann shares, Evergreen Financial liabilities Accounts payable and other liabilities Amortized cost Amortized cost Holdbacks payable Amortized cost Amortized cost Construction loan payable Amortized cost Amortized cost There were no changes in the carrying amounts of the financial instruments as a result of the adoption of IFRS 9 as at the date of initial application. (iv) Impairment of financial assets The adoption of IFRS 9 has fundamentally changed the Company's accounting of impairment losses for financial assets by replacing IAS 39's incurred loss approach with a forward-looking expected credit loss approach. There were no impairment losses recognized in these consolidated financial statements as a result of the adoption of IFRS 9 as at the date of initial application. |
New and revised standards and i
New and revised standards and interpretations issued but not yet effective | 12 Months Ended |
Dec. 31, 2018 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Abstract] | |
New and revised standards and interpretations issued but not yet effective | 5. New and revised standards and interpretations issued but not yet effective (a) IFRS 16 Leases IFRS 16 was issued in January 2016 and replaces the previous guidance on leases. This standard provides a single recognition and measurement model to be applied by lessees to leases, with required recognition of assets and liabilities for most leases. This standard is effective for annual periods beginning on or after January 1, 2019, with early adoption permitted if the Company is also applying IFRS 15, Revenue from contracts with customers. The Company will adopt this new standard as of its effective date. The Company has reviewed all of the Company’s leasing arrangements outstanding as at December 31, 2018, in respect of the new lease standard. The standard will primarily affect the accounting for the Company's operating leases. At the reporting date, the Company has non-cancellable operating lease commitments of $5,950, see Note 21(a). The Company intends to apply the simplified transition approach and will not restate comparative amounts to the year prior to adoption. In respect of these lease commitments, the Company expects to recognize right-of-use assets of approximately $1,722, current lease liabilities of $303 and non-current lease liabilities of $1,642 as at January 1, 2019. Pursuant to the application of the simplified transition approach, the Company expects a one-time adjustment to increase the opening accumulated deficit as at January 1, 2019 of $223. The Company expects that profit or loss will decrease by approximately $98 for the year ended December 31, 2019 as a result of the application of IFRS 16. (b) IFRIC 23 Uncertainty over income tax treatments IFRIC 23 clarifies the application of recognition and measurement requirements in IAS 12, Income taxes, when there is uncertainty over income tax treatments. It specifically addresses whether an entity considers each tax treatment independently or collectively, the assumptions an entity makes about the examination of tax treatments by taxation authorities, how an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates, and how an entity considers changes in facts and circumstances. IFRIC 23 will be effective for the Company’s fiscal year beginning on January 1, 2019, with earlier application permitted. The Company will adopt this interpretation as of its effective date. The Company has performed a preliminary analysis and has not assessed any significant impact as a result of the adoption of this standard. |
Accounting Changes
Accounting Changes | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Voluntary Change In Accounting Policy [Abstract] | |
Accounting Changes | 6. Accounting changes (a) Change in estimate During the three months ended March 31, 2018, the Company revised its estimate of the useful life of the Health Canada Licenses, and assessed that the licenses have an estimated useful life equal to the remaining useful life of the corresponding facilities described in Note 13(a). Previously, the Company estimated that the Health Canada licenses had an indefinite life. The change in estimate was accounted for prospectively. (b) Change in accounting policy During the three months ended June 30, 2018, the Company made a voluntary change in accounting policy to capitalize the direct and indirect costs attributable to the biological asset transformation. The previous accounting policy was to expense these costs as period costs. The new accounting policy is included in Note 3(c). The new accounting policy provides more reliable and relevant information to users as the gross profit before fair value adjustments only considers the costs incurred on inventory sold during the year, and excludes costs incurred on the biological transformation until the related harvest is sold. The following demonstrates the change for each prior period presented. There is no impact of this policy change on gross profit, net income (loss), basic and diluted earnings per share, the consolidated statement of financial position, or the consolidated the statement of changes in equity on the current or any prior period, upon retrospective application. 6. Accounting changes (continued) (b) Change in accounting policy (continued) 2018 2017 Original accounting policy New accounting policy Original accounting policy New accounting policy Consolidated statement of operations and comprehensive income (loss) Cost of sales Cost of sales before fair value adjustments $ 2,942 $ 7,654 $ 609 $ 2,040 Production costs 7,145 - 3,983 - Total cost of sales 10,087 7,654 4,592 2,040 Gross profit (loss) before fair value adjustments 5,616 8,049 (510 ) 2,042 Fair value adjustments: Unrealized change in fair value of biological assets (18,713 ) (11,568 ) (11,620 ) (7,637 ) Realized fair value adjustments on inventory sold in the year 13,061 8,349 3,880 2,449 Total fair value adjustments (5,652 ) (3,219 ) (7,740 ) (5,188 ) Gross profit $ 11,268 $ 11,268 $ 7,230 $ 7,230 2018 2017 Original accounting policy New accounting policy Original accounting policy New accounting policy Consolidated statement of cash flows Operating activities Items not affecting cash: Unrealized change in fair value of biological assets $ (18,713 ) $ (11,568 ) $ (11,620 ) $ (7,637 ) Realized fair value adjustments on inventory sold in the year 13,061 8,349 3,880 2,449 Net changes in non-cash working capital: Biological assets 13,361 6,216 9,693 5,710 Inventory (16,229 ) (11,517 ) (10,388 ) (8,957 ) Net effect on cash flows used in operating activities $ (8,520 ) $ (8,520 ) $ (8,435 ) $ (8,435 ) |
Biological assets and inventory
Biological assets and inventory | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Biological assets and inventory | 7. Biological assets and inventory (a) Biological assets The Company's biological assets consist of cannabis plants. The changes in the carrying amounts of the biological assets are as follows: 2018 (Note 6) 2017 (Note 6) Biological assets - beginning of year $ 3,722 $ 1,795 Capitalization of production costs 7,145 3,983 Unrealized change in fair value of biological assets 11,568 7,637 Transferred to inventory upon harvest (13,361 ) (9,693 ) Biological assets - end of year $ 9,074 $ 3,722 As of December 31, 2018, it is expected that the Company's biological assets will ultimately yield approximately 6,303 kg of dry cannabis (2017 - 1,695 kg). As at December 31, 2018, the Company has 46,004 plants (2017 - 7,353 plants) classified as biological assets. The Company measures its biological assets at fair value less costs to sell. This valuation is based on the expected harvest yield (in grams) for plants currently being cultivated, adjusted for the expected selling price less post-harvest costs attributable to bringing a harvested gram of cannabis to a saleable condition and ultimate sale (on a per gram basis). The Company accretes the fair value of each cannabis plant on a straight-line basis over the expected growing cycle. As at December 31, 2018, the plants were on average 6 weeks (2017 - 7 weeks) into the growing cycle 37% complete (2017 - 46%) and were ascribed approximately 37% (2017 - 46%) of their expected fair value at harvest date. (b) Inventory Inventory as at December 31, 2018 consisted of the following: 2018 2017 kg $ kg $ Dry cannabis Finished goods 187 kg $ 972 815 kg $ 6,145 Work-in-process 1,789 kg 7,733 243 kg 1,630 8,705 7,775 Cannabis oils Finished goods 115 kg 656 18 kg 332 Work-in-process 220 kg 1,250 nil kg - 1,906 332 Raw materials ( i ) 171 ( i ) 183 Supplies and consumables 802 126 $ 11,584 $ 8,416 ( i ) Raw materials consisted of 0.267 kg (2017 - 0.288 kg) of seeds held by the Company as at December 31, 2018. As at December 31, 2018, the Company held 29 kg (2017 - 4 kg) of dry cannabis and 4 kg (2017 - 1 kg) of cannabis oils as retention samples. These samples are recorded at a value of $nil on the consolidated statements of financial position as they are not saleable. 7. Biological assets and inventory (continued) (c) Direct and indirect cost allocations The direct and indirect costs related to biological assets and inventory are allocated as follows. The allocation basis was consistent for the years ended December 31, 2018 and 2017, unless otherwise specified. Nature of cost Allocation basis Consumables (insect control, fertilizers, soil) 100% allocated to production costs; incurred to support plant growth Labour costs (including salaries and benefits) Allocated based on job descriptions of various personnel; 30% allocated to processing costs; 40% allocated to production costs; 30% allocated to operating expenses (2017 - 20%; 70%; and 10%; respectively) Supplies and small tools 80% allocated to production costs; 20% allocated to processing costs Utilities Allocated based on estimates of usage, 10% allocated to processing costs; 90% allocated to production costs Property taxes, depreciation, security Allocated based on estimates of square footage, 20% allocated to processing costs; 50% allocated to production costs; 30% allocated to operating expenses Packaging costs 100% allocated to processing costs (d) Significant inputs and sensitivity analyses The Company has made the following estimates related to significant inputs in the valuation model: Significant inputs Allocation basis Net selling price per gram Estimated net selling price per gram of dry cannabis based on historical sales and anticipated prices, after adjustment for excise taxes Harvest yield per plant Expected grams of dry cannabis to be harvested from a cannabis plant, based on the weighted average historical yields by plant strain Stage of growth Weighted average plant age (in weeks) out of the 16 week growing cycle as of the period end date Processing costs per gram Estimated post-harvest costs per gram to bring a gram of harvested cannabis to its saleable condition, including drying, curing, testing and packaging, and overhead allocation; estimated based on post-harvest costs incurred during the period divided by number of grams processed during the period Selling costs per gram Estimated shipping, order fulfillment, and labelling costs per gram; calculated as selling costs incurred during the period divided by number of grams sold during the period Equivalency factor Estimated grams of dry cannabis required to produce one milliliter of cannabis oil; estimated based on historical results Mass multipliers Estimated multiples of crude extract and isolate mass in diluted cannabis oil products These inputs are level 3 on the fair value hierarchy, and are subject to volatility and several uncontrollable factors, which could significantly affect the fair value of biological assets in future periods. 7. Biological assets and inventory (continued) (d) Significant inputs and sensitivity analyses (continued) The following table quantifies each of the significant unobservable inputs described above and provides a sensitivity analysis of the impact on the reported values of biological assets and inventory. The sensitivity analysis for each significant input is performed by assuming a 5% decrease in the input while other significant inputs remain constant at management's best estimate as of the period end date. Increase (decrease) as at December 31, 2018 Increase (decrease) as at December 31, 2017 As at December 31, 2018 Biological assets Inventory As at December 31, 2017 Biological assets Inventory Net selling price per gram $5.58/g $ (673 ) $ (640 ) $8.50/g $ (227 ) $ (443 ) Harvest yield per plant 137 g (446 ) - 182 g (181 ) - Stage of growth 6 weeks (446 ) - 7 weeks (181 ) - Processing costs per gram $1.98/g 175 65 $0.82/g 22 9 Selling costs per gram $0.43/g 52 50 $0.97/g 227 443 Equivalency factor 0.3 g/mL (45 ) 104 0.3 g/mL (1 ) (17 ) Mass multipliers 30x - 50x (5 ) (24 ) n/a n/a n/a |
Loan receivable
Loan receivable | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Loan receivable | 8. Loan receivable 2018 2017 Loan receivable from Evergreen Medicinal Supply Inc. ( "Evergreen" ( i ) $ 265 $ 265 Add: Accrued interest 49 49 Loan receivable $ 314 $ 314 ( i ) The loan is due on demand. The loan accrued interest at 8% per year, up to March 31, 2017, calculated and payable annually in arrears. Refer to Note 11(ii) for details. |
Advances to joint ventures
Advances to joint ventures | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Advances to joint ventures | 9. Advances to joint ventures 2018 2017 Cronos Australia ( i ) $ 990 $ - Cronos GrowCo (ii) 4,080 - MedMen Canada (ii) 1,871 - $ 6,941 $ - ( i ) $940 ($1,000 Australian dollars, "AUD" (ii) Advances are unsecured, non-interest bearing, and there are no terms of repayment. Refer to Note 10(ii) and (iii) for details regarding the Company's investments in MedMen Canada and Cronos GrowCo, respectively. |
Investments in equity accounted
Investments in equity accounted investees | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Investments In Associates And Joint Ventures [Abstract] | |
Investments in equity accounted investees | 10. Investments in equity accounted investees A reconciliation of the carrying amount of the investments in associates and joint ventures is as follows: Whistler ( i ) MedMen Canada (ii) Cronos GrowCo (iii) Cronos Australia (iv) Total As at January 1, 2017 $ 2,566 $ - $ - $ - $ 2,566 Capital contributions 1,076 - - - 1,076 Share of net income 165 - - - 165 As at December 31, 2017 $ 3,807 $ - $ - $ - $ 3,807 Capital contributions - 101 100 420 621 Share of net income (loss) 231 (276 ) (129 ) (762 ) (936 ) As at December 31, 2018 $ 4,038 $ (175 ) $ (29 ) $ (342 ) $ 3,492 ( i ) Whistler was incorporated in British Columbia, Canada and is a License Holder with production facilities in British Columbia, Canada. Although the Company held less than 20% of the ownership interest and voting control of Whistler, the Company had the ability to exercise significant influence through both its power to elect board members, and aggregately, with affiliated shareholders, the Company held over 20% of the voting control of Whistler. Subsequent to December 31, 2018, the Company fully divested of its investment in Whistler. Refer to Note 28(e). (ii) MedMen Canada was incorporated under the Canada Business Corporations Act (" CBCA (iii) Cronos GrowCo was incorporated under the CBCA on June 14, 2018, with the objective of building a cannabis production greenhouse, applying for cannabis licenses under the Cannabis Act, and growing, cultivating, extracting, producing, selling, and distributing cannabis in accordance with such licenses. (iv) Cronos Australia Pty. Ltd. was incorporated under the Corporations Act 2001 (Australia) on December 6, 2016. On September 27, 2018, Cronos Australia Pty. Ltd. underwent a restructuring, resulting in the incorporation of Cronos Australia Limited on that date, which became the ultimate holding company of the group, owning 100% of Cronos Australia Group Pty. Ltd., which owns 100% of Cronos Australia - Marketing & Distribution Pty. Ltd., Cronos Australia - Operations Pty. Ltd, and Cronos Australia – New Zealand Ltd. Cronos Group has committed to provide 50% of the capital expenditure and operating expense funding requirements, amounting to approximately $10,000. The timing of these funding obligations has not been determined as of December 31, 2018. The following is a summary of financial information for the Company's significant associates and joint ventures as at December 31: Whistler MedMen Canada Cronos GrowCo Cronos Australia 2018 Current assets $ 6,307 $ 1,521 $ 603 $ 1,280 $ 9,711 Non-current assets 26,743 - 9,762 491 36,996 Current liabilities 1,191 - 2,200 1,718 5,109 Non-current liabilities 6,841 1,871 8,233 1,058 18,003 Revenue $ 6,923 $ - $ - $ - $ 6,923 Income (loss) from continuing operations 1,213 (552 ) (269 ) (1,524 ) (1,132 ) 10. Investments in equity accounted investees (continued) Whistler MedMen Canada Cronos GrowCo Cronos Australia 2017 Current assets $ 4,163 $ - $ - $ - $ 4,163 Non-current assets 13,645 - - - 13,645 Current liabilities 3,676 - - - 3,676 Non-current liabilities - - - - - Revenue $ 3,813 $ - $ - $ - $ 3,813 Income from continuing operations 814 - - - 814 |
Other investments
Other investments | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Other investments | 11. Other investments Other investments consist of investments in common shares and warrants of several companies in the cannabis industry. These investments, with the exception of shares of Evergreen and warrants of ABcann Global Corporation (now known as "ABcann" 2018 2017 Fair value through other comprehensive income investments Canopy Growth Corporation ( "Canopy" ( i ) $ 405 $ 877 Evergreen (ii) 300 300 $ 705 $ 1,177 Fair value through profit or loss investment ABcann - share warrants (iii)(v) - 170 $ 705 $ 1,347 The gains (losses) recognized upon the increase (decrease) in the fair value of other investments were as follows: 2018 2017 Gain recognized in net income (loss) Canopy ( i ) $ - $ 36 ABcann - shares (iii) - 4,160 ABcann - share warrants (iii)(v) 221 5 The Hydropothecary Corporation ( "Hydropothecary" (iv) - 657 $ 221 $ 4,858 2018 2017 Gain (loss) recognized in other comprehensive income (loss) before taxes Canopy ( i ) $ 215 $ 608 ABcann - shares (iii) (224 ) - $ (9 ) $ 608 11. Other investments (continued) ( i ) During the year ended December 31, 2018, the Company sold 18,436 shares of Canopy (2017 - 7,374) for proceeds of $687 (2017 - $88). Subsequent to December 31, 2018, the Company fully divested of its investment in Canopy. Refer to Note 28(a). (ii) On March 16, 2017, Evergreen received a cultivation license under the Cannabis Act. As a result, the Company completed its subscription for a second tranche of shares of Evergreen for $100 and exercised its option to acquire an additional 5% of the equity of Evergreen for $500, for a total additional investment of $600. However, Evergreen, through its counsel, has indicated that the Company is not entitled to any interest in Evergreen and has rejected the payment. The Company filed a statement of claim in the Supreme Court of British Columbia and Evergreen has filed a statement of defense. The Company intends to vigorously pursue the enforcement of its rights to acquire equity in Evergreen. (iii) During the year ended December 31, 2017, ABcann completed a reverse takeover with Panda Capital Inc. As a result of this transaction, ABcann began trading on the TSX. The Company subscribed for additional shares of ABcann of $1,016 and sold 8,770,001 shares of ABcann for proceeds of $9,859 during the year ended December 31, 2017. During the year ended December 31, 2018, the Company exercised 182,927 share warrants for aggregate consideration of $113, for additional shares of ABcann. Prior to the exercise, the share warrants were revalued to fair value using the Black-Scholes option pricing model. During the year ended December 31, 2018, the Company sold all 182,927 shares of ABcann for proceeds of $280. (iv) During the year ended December 31, 2017, BFK Capital Corp. acquired all of the outstanding shares of Hydropothecary (currently operating as HEXO Corp. and trading as TSX: HEXO). As a result of this transaction, Hydropothecary executed a 6:1 stock split. During the year ended December 31, 2017, the Company sold all 550,002 shares of Hydropothecary for proceeds of $932. The cumulative gain previously recognized as other comprehensive income on these shares was reclassified to income during 2017. (v) During the year ended December 31, 2017, the Company exercised 3,658,537 warrants for aggregate consideration of $2,268 for additional shares of ABcann. As at December 31, 2017, the fair value of the warrants was estimated using the Black-Scholes option pricing model with the following assumptions: risk free rate: 1.66%; volatility: 65%; share price: $1.53 per share; expected life: 0.76 years; and dividend yield: nil%. |
Property, plant and equipment
Property, plant and equipment | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Property, plant and equipment | 12. Property, plant and equipment Cost As at January 1, 2018 Additions ( i ) Transfers As at December 31, 2018 Land $ 1,558 $ 1,649 $ - $ 3,207 Building structures 11,518 5,417 4,717 21,652 Furniture and equipment 134 542 - 676 Computer equipment 148 316 - 464 Security equipment 886 99 - 985 Production equipment 2,481 2,342 - 4,823 Road 137 - - 137 Leasehold improvements 1,497 87 - 1,584 Equipment under finance lease (iii) - 217 - 217 Construction in progress 39,337 106,853 (4,717 ) 141,473 $ 57,696 $ 117,522 $ - $ 175,218 12. Property, plant and equipment (continued) Accumulated depreciation As at January 1, 2018 Additions (ii) Transfers As at December 31, 2018 Building structures $ 433 $ 751 $ - $ 1,184 Furniture and equipment 43 78 - 121 Computer equipment 75 94 - 169 Security equipment 196 188 - 384 Production equipment 431 465 - 896 Road 10 7 - 17 Leasehold improvements 336 174 - 510 Equipment under finance lease (iii) - 46 - 46 $ 1,524 $ 1,803 $ - $ 3,327 Net book value $ 56,172 $ 171,891 Cost As at January 1, 2017 Additions ( i ) Transfers As at December 31, 2017 Land $ 1,558 $ - $ - $ 1,558 Building structures 2,761 2,723 6,034 11,518 Furniture and equipment 63 71 - 134 Computer equipment 88 60 - 148 Security equipment 474 412 - 886 Production equipment 2,106 375 - 2,481 Road 137 - - 137 Leasehold improvements 1,429 68 - 1,497 Construction in progress 6,034 39,337 (6,034 ) 39,337 $ 14,650 $ 43,046 $ - $ 57,696 Accumulated depreciation As at January 1, 2017 Additions (ii) Transfers As at December 31, 2017 Building structures $ 120 $ 313 $ - $ 433 Furniture and equipment 18 25 - 43 Computer equipment 36 39 - 75 Security equipment 60 136 - 196 Production equipment 103 328 - 431 Road 5 5 - 10 Leasehold improvements 186 150 - 336 $ 528 $ 996 $ - $ 1,524 Net book value $ 14,122 $ 56,172 ( i ) During the year ended December 31, 2018, there were non-cash additions from the amortization of capitalized transaction costs and the capitalization of accrued interest to construction in progress and building structures amounting to $762 (2017 - $345). Refer to Note 15. In addition, there were land clearing costs and construction costs amounting to $2,092 that were paid by non-controlling interests, and outstanding as at December 31, 2018 in the form of advances. These advances accrued interest of $44 which was capitalized to construction in progress. Refer to Note 14. (ii) During the year ended December 31, 2018, $484 (2017 - $455) of depreciation expense was recorded as part of cost of sales. An additional $770 of depreciation expense remained capitalized in biological assets and inventory, as at December 31, 2018 (2017 - $nil). (iii) As at December 31, 2018 the net carrying amount of property, plant, and equipment includes equipment held under finance lease with a net carrying amount of $171 (2017 - $nil). |
Intangible assets and goodwill
Intangible assets and goodwill | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Abstract] | |
Intangible assets and goodwill | 13. Intangible assets and goodwill (a) Intangible assets Cost As at January 1, 2017 Additions As at December 31, 2017 Additions As at December 31, 2018 Software $ - $ - $ - $ 360 $ 360 Health Canada Licenses - OGBC 1,611 - 1,611 - 1,611 Health Canada Licenses - Peace Naturals 9,596 - 9,596 - 9,596 Israeli Code - Cronos Israel G.S. Cultivations Ltd. ( i ) - - - 156 156 Israeli Code - Cronos Israel G.S. Manufacturing Ltd. ( i ) - - - 218 218 $ 11,207 $ - $ 11,207 $ 734 $ 11,941 ( i ) Israeli Codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above. Refer to Note 14. Thus, these capital contributions are considered non-cash additions and have been excluded from the consolidated statement of cash flows. Accumulated amortization As at January 1, 2017 Additions As at December 31, 2017 Additions As at December 31, 2018 Software $ - $ - $ - $ 73 $ 73 Health Canada Licenses - OGBC - - - 101 101 Health Canada Licenses - Peace Naturals - - - 533 533 $ - $ - $ - $ 707 $ 707 Net book value $ 11,207 $ 11,207 $ 11,234 (b) Goodwill As at January 1, 2017 Additions As at December 31, 2017 Additions As at December 31, 2018 OGBC $ 392 $ - $ 392 $ - $ 392 Peace Naturals 1,400 - 1,400 - 1,400 $ 1,792 $ - $ 1,792 $ - $ 1,792 13. Intangible assets and goodwill (continued) (c) Impairment For purposes of impairment testing, intangible assets with an indefinite life and goodwill were allocated to the smallest identifiable group of assets that generate cash flows independently (a cash-generating unit or "CGU" The recoverable amounts of the CGUs were determined based on a value-in-use calculation, determined using a five-year cash flow projection. The cash flows were estimated using forecasted earnings before interest, taxes, depreciation, and amortization ( "EBITDA" OGBC Peace Naturals Weighted average cost of capital (after-tax) 12% 12% Average growth rate* 0% 14% * The average growth rate is the annualized average of the expected year-over-year growth rate (in EBITDA) over five years. These assumptions are based on the Company’s historical results, the preliminary results of the first quarter of the following fiscal year, and management’s expectations of the cash flows based on budgeted results, taking into account estimated sales volume and price changes. The impairment test performed resulted in no impairment of goodwill at December 31, 2018 and no impairment of goodwill or indefinite life intangible assets at December 31, 2017. Management has not identified a reasonably possible change in these key assumptions that could cause the carrying amount of either CGU to exceed its recoverable amount. |
Subsidiaries with non-controlli
Subsidiaries with non-controlling interests | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Investments In Subsidiaries [Abstract] | |
Subsidiaries with non-controlling interests | 14. Subsidiaries with non-controlling interests During the year ended December 31, 2017, the Company announced a strategic joint venture in Israel, consisting of four legal entities, with the Israeli agricultural collective settlement Kibbutz Gan Shmuel, for the production, manufacturing and distribution of medical cannabis. The Company has subscribed for its equity interest in all four of the Israeli entities comprising Cronos Israel, accounted for as an asset acquisition as the Israeli entities did not meet the definition of a business at the respective dates Cronos Group acquired control. As a result of this acquisition, the Company paid $6,400 ILS ($2,313) for its interests in Cronos Israel and assumed cash of $486 ILS ($176) at the acquisition date. The results of the Israeli entities have been included in these consolidated financial statements as at December 31, 2018, as this transaction provided Cronos Group with control over these entities. As at December 31, 2018, financial information of significant subsidiaries with non-controlling interests are as follows: Cronos Israel G.S. Cultivations Ltd. Cronos Israel G.S. Manufacturing Ltd. Total Percentage interest held by non-controlling interests 30 % 10 % Current assets $ 713 $ 690 $ 1,403 Non-current assets 4,345 6,705 11,050 Current liabilities 325 76 401 Non-current liabilities 4,775 5,826 10,601 Retained earnings (accumulated deficit) (42 ) 1,493 1,451 Attributable to: Cronos Group (29 ) 1,344 1,315 Non-controlling interests (13 ) 149 136 Revenue - - - Net loss (556 ) (682 ) (1,238 ) Attributable to: Cronos Group (389 ) (614 ) (1,003 ) Non-controlling interests (167 ) (68 ) (235 ) Other comprehensive income (loss) (2 ) 6 4 Attributable to: Cronos Group (1 ) 5 4 Non-controlling interests (1 ) 1 - ( i ) Non-current liabilities include advances from non-controlling interests, in the amount of $2,092 plus accrued interest of $44. These advances are unsecured, bear interest at 5%, with no fixed terms of repayment. Refer to Note 25(d). The above information represents amounts before intercompany eliminations. The Company did not have any significant subsidiaries with non-controlling interests as at December 31, 2017. |
Construction loan payable
Construction loan payable | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Construction loan payable | 15. Construction loan payable 2018 2017 Aggregate advances $ 21,311 $ 6,304 Less: transaction costs (net of amortization) (481 ) (1,122 ) Add: accrued interest 121 185 $ 20,951 $ 5,367 On August 23, 2017, Peace Naturals, as borrower, signed a construction loan agreement with Romspen Investment Corporation as lender, to borrow $40,000, to be funded by way of multiple advances. The aggregate advances were limited to $35,000 until the lender received an appraisal valuing the property in British Columbia at an amount of not less than $8,000. The loan bore interest at a rate of 12% per annum, calculated and compounded monthly, in arrears, on the amounts advanced from the date of each advance. The term of the loan was two years, with the borrower's option to extend for another twelve months. The loan was guaranteed by Cronos Group, Hortican, OGBC, the responsible-person-in-charge and the senior-person-in-charge of OGBC and Peace Naturals. Subsequent to December 31, 2018, the construction loan payable was fully repaid. Refer to Note 28(b). The loan was secured as follows: (a) first-ranking charge on the lands owned by OGBC, Peace Naturals, and Hortican, (collectively, the "Property" (b) first-ranking general assignment of all present and future leases of each Property; (c) general security agreements creating first-ranking security interests on all the personal property of Peace Naturals and the corporate guarantors including without limitation, goods, chattels, paper, documents, accounts, intangible assets, securities, monies, books and records; (d) specific assignment of each Property's right, title, and interest in the construction project which the loan is being used to fund, including licenses, permits, plans and specifications, development approvals and agreements; (e) acknowledgement of the status and terms of any contracts affecting or with respect to each Property including without limitation, any pertaining to ownership, insurance, shared facilities, passageway agreements, or similar matters, confirming the good status of such contracts, and the rights of the lender under such contracts; (f) the subordination of all other indebtedness of Peace Naturals; (g) an unconditional, joint and several covenant by the guarantors as principal debtor for the performance of obligations by Peace Naturals, it being understood that the lender is not obliged to proceed against Peace Naturals or exhaust any security before proceeding against the guarantors; (h) deficiency and completion guarantee from Peace Naturals and the corporate guarantors; (i) assignment of all insurance policies with respect to each Property and the construction project; (j) pledge of the shares of Peace Naturals, OGBC, and Hortican; (k) an environmental indemnity from Peace Naturals and the corporate guarantors; and (l) deficiency and completion guarantee from Peace Naturals and the corporate guarantors. |
Share capital
Share capital | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Share capital | 16. Share capital The Company is authorized to issue an unlimited number of no par value common shares. The holders of the common shares are entitled to receive dividends which may be declared from time to time, and are entitled to one vote per share at shareholder meetings of the Company. All common shares are ranked equally with regards to the Company's residual assets. During the year ended December 31, 2018, the Company issued 15,677,143 (2017 - 13,181,190) common shares for aggregate gross proceeds of $146,032 (2017 - $34,584) through bought deal offerings and nil (2017 - 6,671,111) common shares for aggregate gross proceeds of $nil (2017 - $15,010) through private placements. |
Share-based payments
Share-based payments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Share-based payments | 17. Share-based payments (a) Warrants The following is a summary of the changes in warrants from January 1, 2017 to December 31, 2018: Weighted average exercise price Number of warrants Share-based reserve Balance at January 1, 2017 $ 0.24 45,885,172 $ 3,983 Exercise of warrants 0.23 (7,211,308 ) (619 ) Expiry of warrants 0.70 (19,210 ) - Balance at December 31, 2017 $ 0.24 38,654,654 $ 3,364 Exercise of warrants 0.14 (13,114,336 ) (1,816 ) Expiry of warrants 0.08 (82,695 ) - Balance at December 31, 2018 $ 0.26 25,457,623 $ 1,548 As at December 31, 2018, the Company had outstanding warrants as follows: Grant date Expiry date Number of warrants Weighted average exercise price October 8, 2015 - October 28, 2015 October 8, 2020 - October 28, 2020 4,586,785 $ 0.31 May 13, 2016 - May 27, 2016 May 13, 2021 - May 27, 2021 20,870,838 0.25 25,457,623 $ 0.26 (b) Stock options (i) Stock option plans The Company had adopted an amended and restated stock option plan dated May 26, 2015 (the "2015 Stock Option Plan" On June 28, 2018, the shareholders of the Company approved a new stock option plan (the "2018 Stock Option Plan" 17. Share-based payments (continued) (b) Stock options (continued) (i) Stock option plans (continued) Participants under the 2018 Option Plan are eligible to be granted options to purchase shares at an exercise price established upon approval of the grant by the Board. When options are granted, the exercise price is, with respect to a particular date, the closing price as reported by the TSX on the immediately preceding trading day (the "Fair Market Value" Vesting conditions for grants of options are determined by the Board. The typical vesting for employee grants is quarterly vesting over five years, and the typical vesting for directors and executive officers is quarterly vesting over three to five years. The term of the options is established by the Board, provided that the term of an option may not exceed seven years from the date of the grant. The 2018 Option Plan also provides for the issuance of share appreciation rights ( "SARs" (ii) Summary of changes The following is a summary of the changes in options from January 1, 2017 to December 31, 2018: Weighted average exercise price Number of options Share-based reserve Balance at January 1, 2017 $ 1.10 6,177,594 $ 735 Issuance of options 2.82 6,402,000 - Exercise of options 1.03 (571,246 ) (308 ) Cancellation of options 1.15 (404,598 ) - Vesting of issued options - - 1,862 Balance at December 31, 2017 $ 2.05 11,603,750 $ 2,289 Issuance of options 8.23 1,910,000 - Exercise of options 1.41 (597,379 ) (286 ) Cancellation of options 2.43 (13,376 ) - Vesting of issued options - - 4,238 Balance at December 31, 2018 $ 2.99 12,902,995 $ 6,241 17. Share-based payments (continued) (b) Stock options (continued) (ii) Summary of changes (continued) The weighted average share price at the dates the options were exercised during the year ended December 31, 2018 was $9.37 per share (2017 - $3.66 per share). As at December 31, 2018, the Company had outstanding and exercisable options as follows: Weighted average Grant date Vesting terms Expiry date Number of options Exercise price Remaining contractual life (in years) August 5, 2016 Evenly over 48 months August 5, 2021 1,058,334 $ 0.50 2.60 October 6, 2016 Evenly over 48 months October 6, 2021 3,411,699 1.23 2.77 November 21, 2016 Evenly over 48 months November 21, 2021 182,000 1.84 2.89 April 12, 2017 Evenly over 48 months April 12, 2022 3,273,020 3.14 3.28 August 23, 2017 Evenly over 48 months August 23, 2022 2,872,941 2.42 3.65 November 9, 2017 Evenly over 48 months November 9, 2022 200,000 3.32 3.86 January 30, 2018 Evenly over 48 months January 30, 2023 275,001 8.40 4.08 January 31, 2018 Evenly over 48 months January 31, 2023 150,000 9.00 4.09 May 18, 2018 Evenly over 48 months May 18, 2023 1,195,000 7.57 4.38 June 28, 2018 Evenly over 60 months June 28, 2023 180,000 8.22 4.49 September 13, 2018 Evenly over 48 months September 13, 2025 25,000 14.70 6.71 October 12, 2018 Evenly over 48 months October 12, 2025 30,000 11.80 6.79 December 14, 2018 Evenly over 20 quarters December 14, 2025 50,000 15.29 6.96 Outstanding at December 31, 2018 12,902,995 $ 2.99 3.35 Exercisable at December 31, 2018 5,648,656 $ 2.28 3.14 These options shall expire at the earlier of 180 days of the death, disability or incapacity of the holder or specified expiry date, and can only be settled in common shares. As at December 31, 2018, the weighted average exercise price of options outstanding was $2.99 per option (2017 - $2.05 per option). The weighted average exercise price of options exercisable was $2.28 per option (2017 - $1.71 per option). (iii) Fair value of options issued The fair value of the options issued during the year was determined using the Black-Scholes option pricing model, using the following inputs: 2018 2017 Share price at grant date (per share) $7.57 - $15.29 $2.42 - $3.27 Exercise price (per option) $7.57 - $15.29 $2.42 - $3.32 Risk-free interest rate 1.93% - 2.45% 0.96% - 1.59% Expected life of options (in years) 5 - 7 5 Expected annualized volatility 55% 55% Expected dividend yield 0% 0% Weighted average Black-Scholes value at grant date (per option) $4.09 $1.39 Volatility was estimated by using the historical volatility of the Company, adjusted for the Company's expectation of volatility going forward. The expected life in years represents the period of time that the options granted are expected to be outstanding. The risk-free interest rate was based on Bank of Canada government bonds with a remaining term equal to the expected life of the options. |
Revenue from Contracts with Cus
Revenue from Contracts with Customers | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Abstract] | |
Revenue from contracts with customers | 18. Revenue from contracts with customers The Company derives revenue from the transfer of goods at a point in time for the following major product lines and geographical regions: 2018 2017 Canadian Dry cannabis $ 12,219 $ 3,142 Cannabis oils 3,495 146 Other 232 195 15,946 3,483 International Dry cannabis $ 1,155 $ 598 Cannabis oils 44 1 1,199 599 Total gross revenue from contracts with customers $ 17,145 $ 4,082 During the year ended December 31, 2018, the Company earned a total gross revenue of $2,832 from 1 major customer (2017 - $530 and $780 from 2 major customers, respectively). As at December 31, 2018, $50 (2017 - $nil) in expected credit losses has been recognized on receivables from contract with customers. Refer to Note 25(a)(i). |
Earnings (loss) per share
Earnings (loss) per share | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Earnings (loss) per share | 19. Earnings (loss) per share Basic and diluted earnings (loss) per share are calculated using the following numerators and denominators: 2018 2017 Numerator Net income (loss) attributable to common shareholders of Cronos Group $ (18,970 ) $ 2,491 Net income (loss) used in the computation of basic and diluted income (loss) per share $ (18,970 ) $ 2,491 Denominator Weighted average number of common shares outstanding for computation of basic income (loss) per share 172,269,170 134,803,542 Dilutive effect of warrants - 38,378,288 Dilutive effect of options and share appreciation rights - 3,607,331 Weighted average number of common shares for computation of diluted income (loss) per share 172,269,170 176,789,161 For the year ended December 31, 2018, all instruments were anti-dilutive (2017 - all dilutive). |
Related party transactions and
Related party transactions and balances | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Related party transactions and balances | 20. Related party transactions and balances The following is a summary of the Company's related party transactions during the year: (a) Key management compensation Key management personnel are persons responsible for planning, directing and controlling activities of an entity, and include executive and non-executive directors. Compensation provided to key management is as follows: 2018 2017 Short-term employee benefits, including salaries and fees $ 437 $ 417 Professional fees 343 234 Share-based payments 1,448 899 $ 2,228 $ 1,550 During the year ended December 31, 2018, a total of 150,000 options (2017 - 3,575,000 options) were issued to key management. Refer to Note 17(b). As at December 31, 2018 and 2017, there were no balances payable to members of key management. (b) Director compensation During the year ended December 31, 2018, a total of 550,000 options (2017 - 1,800,000 options) were issued to directors, excluding a director who was also a member of key management, of the Company and share-based payments of $1,246 (2017 - $601) were recognized. Refer to Note 17(b). |
Commitments and contingencies
Commitments and contingencies | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Commitments and contingencies | 21. Commitments and contingencies (a) The following is a summary of the Company's minimum payments under operating lease obligations for its premises due in future fiscal years: 2019 $ 810 2020 581 2021 586 2022 592 2023 653 2024 and onwards 2,728 $ 5,950 In addition to the minimum lease payments, the Company is required to pay realty taxes and other occupancy costs. 21. Commitments and contingencies (continued) (b) The Company has committed funding to the following R&D projects: (i) Ginkgo . On September 4, 2018, the Company announced a research and development partnership with Ginkgo Bioworks Inc. ( "Ginkgo" ) to develop scalable and consistent production of a wide range of cannabinoids, including THC, CBD and a variety of other lesser known and rarer products. As part of this partnership, Cronos Group has agreed to issue up to 14,700,000 common shares of the Company (aggregate value of approximately $100,000 USD as of July 17, 2018 assuming all milestones are met) in tranches and $22,000 USD in cash subject to Ginkgo's achievement of certain milestones. (ii) Technion . On October 15, 2018, the Company announced a sponsored research agreement with the Technion Research and Development Foundation of the Technion – Israel Institute of Technology ( "Technion" ). Research will be focused on the use of cannabinoids and their role in regulating skin health and skin disorders. The Company has committed to $1,784 USD of research funding over a period of three years. An additional $4,900 USD of cash payments will be paid to Technion upon the achievement of certain milestones. (c) The following contingencies are related to Peace Naturals: (i) MedCann Access Acquisition Claim. On July 31, 2015, 8437718 Canada Inc., 8437726 Canada Inc., Michael Blaine Dowdle, Rade Kovacevic, Kevin Furet and 9388036 Canada Inc. (collectively, the "Plaintiffs" ) commenced a claim against Peace Naturals and a number of other parties, for $15,000 in damages as a result of an alleged breach of obligations to them by terminating a share purchase transaction for the acquisition of the Plaintiffs’ company, MedCann Access. The Company believes that the allegations contained in the statement of claim are without merit and plans to vigorously defend itself; accordingly, no provision for loss has been recognized. On February 21, 2018, the parties began the discovery phase of the proceedings, which is ongoing. (ii) Warrants Claim. Jeffrey Gobuty, brother to Mark Gobuty, former CEO of Peace Naturals, brought a claim against Peace Naturals for $300 and for warrants valued at $125 that were purportedly issued by Mark Gobuty, the former CEO of Peace Naturals. This matter remains in the early stages of litigation and has not yet advanced to discovery. (iii) Former Employees' Unlawful Termination Claims. Peace Naturals, Cronos Group and certain directors were served with claims by Jennifer Caldwell, a former employee, for damages of $580 and 30,000 options of the Company, and Mark Gobuty, the former CEO of Peace Naturals, for approximately $12,682 and a 10% equity interest in Peace Naturals, in connection with alleged claims of wrongful termination. Both plaintiffs have amended their pleadings to discontinue the claims against the individual directors. Subsequent to December 31, 2018, the claim by the former CEO of Peace Naturals has been settled and discontinued. Refer to Note 28(d). (d) The following contingency is related to Cronos Group: (i) U.S. Securities Class Action Claims. Two purported shareholders of Cronos Group each filed a putative class action in the United States District Court for the Southern District of New York against the Company and its CEO, alleging that the Company's continuous disclosure omitted material information with respect to matters raised in a document published on a short-seller's website, thus rendering the Company's disclosure false and misleading in violation of Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, as amended, and Rule 10b-5 thereunder. The complaints purport to seek, among other things, compensatory damages and a reasonable allowance for plaintiff attorneys' and experts' fees. Subsequent to year end, these claims were discontinued. Refer to Note 28(c). |
Income taxes
Income taxes | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Income taxes | 22. Income taxes The components of the income tax provision include: 2018 2017 Current $ - $ - Deferred 489 298 $ 489 $ 298 The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 26.5% (2017 - 26.5%) to the effective tax rate is as follows: 2018 2017 Income (loss) before income taxes $ (18,716 ) $ 2,789 Combined statutory tax rate 26.5 % 26.5 % Theoretical tax expense (recovery) $ (4,960 ) $ 739 Non-deductible expenses: Share-based payments 1,123 494 Meals and entertainment 18 - Non-taxable income: Non-taxable portion of capital gains (83 ) (762 ) Effect of provincial tax rate difference (4 ) 5 Changes in unrecognized deferred tax assets 4,395 (178 ) Income tax expense $ 489 $ 298 The components of deferred tax are summarized below. Deferred tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. 2018 2017 Deferred tax assets Non-capital losses carried forward $ 5,175 $ 5,690 Financing fees 315 31 Scientific research and experimental development 55 28 Finance lease obligation 42 - Provisions 49 - Deferred tax liabilities Biological assets (1,676 ) (986 ) Inventory (1,639 ) (1,989 ) Investments in equity accounted investees (41 ) (153 ) Other investments (36 ) (91 ) Property, plant and equipment (1,285 ) (968 ) Intangible assets (2,809 ) (2,978 ) Net deferred tax liability $ (1,850 ) $ (1,416 ) 22. Income taxes (continued) The changes in the net deferred tax liability are provided below: 2018 2017 Balance - beginning of year $ 1,416 $ 1,457 Recognized in income 489 298 Recognized in other comprehensive income (55 ) (339 ) Balance - end of year $ 1,850 $ 1,416 Deferred taxes are a result of temporary differences that arise due to the differences between the income tax values and the carrying amount of assets and liabilities. Deferred tax assets have not been recognized in respect of the following deductible temporary differences because it is not probable that future taxable profit will be available against which the Company can utilize the benefits therefrom: 2018 2017 Property, plant and equipment $ 1,090 $ 684 Share and debt issuance costs ( i ) 9,488 2,834 Losses carried forward (ii) 25,663 7,814 Equity accounted investments 923 - ( i ) Share and debt issuance costs will be fully amortized in 2023. The remaining deductible temporary differences may be carried forward indefinitely. (ii) For income tax purposes, the Company has non-capital losses carried forward from current and prior years which can be used to reduce future years' taxable income. These losses expire as follows: Non-capital losses 2030 $ 32 2031 22 2032 341 2033 2,547 2034 1,782 2035 5,452 2036 4,623 2037 4,502 2038 26,145 $ 45,446 |
Operating segment information
Operating segment information | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Operating segment information | 23. Operating segment information For the year ended December 31, 2017, the Company was divided into two operating segments corresponding to its two primary business models. One segment related to pursuing equity investments in Licensed Producers in Canada, ( "Investing Segment" "Operating Segment" Reporting by operating segment follows the same accounting policies as those used to prepare the consolidated financial statements. The operating segments are presented in accordance with the same criteria used for internal reporting prepared for the chief operating decision-makers responsible for allocating resources and assessing performance. Inter-segment transactions are recorded at the stated values as agreed to by the segments. As at December 31, 2018 and 2017, substantially all of the Company's assets were located in Canada. For the year ended December 31, 2017: Investing segment Operating segment Inter-segment elimination Total Consolidated statement of operations and comprehensive income (loss) Gross revenue $ - $ 4,082 $ - $ 4,082 Share of income from investments in equity accounted investees 165 - - 165 Unrealized change in fair value of biological assets (Note 6) - (7,637) - (7,637) Cost of sales before fair value adjustments (Note 6) - 2,040 - 2,040 Realized fair value adjustments on inventory sold in the year (Note 6) - 2,449 - 2,449 Gain on other investments 4,858 - - 4,858 Intercompany revenue 624 - (624 ) - Share-based payments 1,862 - - 1,862 Interest expense 1 600 (475 ) 126 Depreciation and amortization 71 470 - 541 Net income (loss) (368 ) 3,382 (523 ) 2,491 Consolidated statement of financial position Total assets $ 151,998 $ 70,198 $ (121,167 ) $ 101,029 Total liabilities 979 67,957 (54,275 ) 14,661 Shareholders' equity $ 151,019 $ 2,241 $ (66,892 ) $ 86,368 Other information Property, plant and equipment $ 1,153 $ 53,175 $ 1,844 $ 56,172 Additions to property, plant and equipment 139 42,908 - 43,046 |
Supplementary cash flow informa
Supplementary cash flow information | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Supplementary cash flow information | 24. Supplementary cash flow information The net changes in non-cash working capital items are as follows: Notes 2018 2017 Accounts receivable 25(a) $ (3,023 ) $ (1,033 ) Sales taxes receivable (305 ) (3,114 ) Prepaids and other receivables 25(a) (3,086 ) (287 ) Biological assets 6(b),7(a) 6,216 5,710 Inventory 6(b),7(b) (11,517 ) (8,957 ) Accounts payable and other liabilities 25(b) 7,479 6,697 Holdbacks payable 25(b) 7,887 - Government remittances payable 25(b) 1,093 - Net changes in non-cash working capital $ 4,744 $ (984 ) |
Financial instruments
Financial instruments | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Financial instruments | 25. Financial instruments (a) Credit risk Credit risk is the risk of financial loss to the Company if a customer or counterparty to a financial instrument fails to meet its contractual obligations. The Company is exposed to credit risk from its operating activities, primarily accounts receivable and other receivables, and its investing activities, including cash held with banks and financial institutions, loan receivable, and advances to joint ventures. The Company's maximum exposure to this risk is equal to the carrying amount of these financial assets, which amounted to $44,166 as at December 31, 2018 (2017 - $10,662). (i) Accounts receivable An impairment analysis is performed at each reporting date using a provision matrix to measure expected credit losses. The provision rates are based on the days past due for groupings of various customer segments with similar loss patterns. The calculation reflects the probability-weighted outcome, the time value of money and reasonable and supportable information that is available at the reporting date about past events, current conditions and forecasts of future economic conditions. Accounts receivable are written off when there is no reasonable expectation of recovery. Indicators that there is no reasonable expectation of recovery include, amongst others, the failure of a debtor to engage in a repayment plan, and a failure to make contractual payments for a period of greater than 120 days past due. For the year ended December 31, 2018, the Company recognized an approximate expected credit loss allowance of $50 (2017 - $nil). Provided below is the information about the credit risk exposure on the Company's accounts receivable using a provision matrix of expected credit loss rates against an analysis of the age of accounts receivable: Expected credit loss rates 2018 2017 Less than 30 days past billing date 0% to 3% $ 3,980 $ 1,020 31 to 60 days past billing date 0% to 5% 136 85 61 to 90 days past billing date 0% to 8% - 35 91 to 120 days past billing date 0% to 12% 19 - Over 120 days past billing date 0% to 18% 28 - $ 4,163 $ 1,140 The Company has assessed that there is a concentration of credit risk, as 87.6% of the Company's accounts receivable were due from 5 customers as at December 31, 2018 (2017 - 89.3% due from 2 customers). 25. Financial instruments (continued) (a) Credit risk (continued) (ii) Cash The Company held cash of $32,634 at December 31, 2018 (2017 - $9,208). The cash is held with central banks and financial institution counterparties that are highly rated. (iii) Advances to joint ventures The Company has assessed that there has been no significant increase in credit risk of these advances from initial recognition based on the financial position of the borrowers, and the regulatory and economic environment of the borrowers. As a result, the loss allowance recognized during the period was limited to 12 months expected credit losses. Based on historical information, and adjusted for forward-looking expectations, the Company has assessed an insignificant loss allowance on these advances as at December 31, 2018. (b) Liquidity risk Liquidity risk is the risk that the Company will not be able to meet its financial obligations as they become due, and arises principally from the Company’s accounts payable and other liabilities, holdbacks payable, government remittances payable, construction loan payable, and due to non-controlling interests. The Company's policy is to review liquidity resources and ensure that sufficient funds are available to meet financial obligations as they become due. Further, the Company's management is responsible for ensuring funds exist and are readily accessible to support business opportunities as they arise. The Company's funding is primarily provided in the form of capital raised through the issuance of shares. As at December 31, 2018, 35% of the Company’s payables were due to 1 vendor (2017 - 89.3% due to 2 vendors). The following represents an analysis of the age of accounts payable: 2018 2017 Less than 30 days past billing date $ 1,201 $ 6,725 31 to 60 days past billing date 365 113 61 to 90 days past billing date 29 66 Over 90 days past billing date - 172 $ 1,595 $ 7,076 Subsequent to December 31, 2018, the Company received cash inflows from the transaction noted in Note 28(f). 25. Financial instruments (continued) (c) Market risk (i) Price risk Price risk is the risk that the fair value of, or future cash flows from, the Company's financial instruments will significantly fluctuate due to changes in market prices. The value of the financial instruments can be affected by changes in interest rates, market and economic conditions, and equity and commodity prices. The Company is exposed to price risk in divesting its investments, such that, unfavorable market conditions could result in dispositions of investments at less than favorable prices. Further, the revaluation of securities classified as fair value through other comprehensive income, could result in significant write-downs of the Company's investments, which would have an adverse impact on the Company's financial position. The Company previously managed price risk by having a portfolio of securities from multiple issuers, such that the Company was not singularly exposed to any one issuer. During the year ended December 31, 2018, the Company sold a significant portion of its investments subject to price risk, and subsequent to December 31, 2018, were fully divested. Refer to Note 28(a). (ii) Concentration risk Concentration risk is the risk that any single investment or group thereof, has the potential to materially affect the operating results of the Company. The Company is exposed to this risk as all of its investments are currently within the cannabis industry. As such, the Company's financial results may be adversely affected by the unfavorable performance of those investments or the industry in which they operate. The Company manages concentration risk by investing in the cannabis industry of various countries. (d) Currency rate risk Currency rate risk is the risk that the fair value of, or future cash flows from, the Company's financial instruments will significantly fluctuate due to changes in foreign exchange rates. The Company is exposed to this risk on advances to joint ventures denominated in AUD, refer to Note 9. The Company is further exposed to this risk through subsidiaries operating in Israel, refer to Note 2(d). The Company does not currently use foreign exchange contracts to hedge its exposure to currency rate risk as management has determined that this risk is not significant at this point in time. As such, the Company's financial position and financial results may be adversely affected by the unfavorable fluctuations in currency exchange rates. The following table provides a summary of foreign currency (in thousands) denominated financial assets and liabilities: Currency 2018 2017 Advance to joint ventures AUD $ 1,029 $ - Cash ILS ₪ 840 ₪ - Sales taxes receivable ILS ₪ 2,066 ₪ - Accounts payable and other liabilities ILS ₪ 1,083 ₪ - Due to non-controlling interests ILS ₪ 5,878 ₪ - A 10% strengthening of the Canadian dollar against the foreign currencies listed above would increase the net loss by $90 and decrease other comprehensive income by $326. A 10% weakening of the Canadian dollar against the foreign currencies listed above would result in an equal, but opposite effect. It is management's opinion that the Company is not subject to significant interest rate risk. |
Fair value hierarchy
Fair value hierarchy | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Fair Value Measurement Of Assets [Abstract] | |
Fair value hierarchy | 26. Fair value hierarchy Assets recorded at fair value on the consolidated statements of financial position are classified using a fair value hierarchy that reflects the significance of the inputs used in making the measurements. The fair value hierarchy has the following levels: Level 1 - valuation based on quoted prices (unadjusted) in active markets for identical assets and liabilities. In these consolidated financial statements, other investments (Canopy, Hydropothecary, and ABcann shares) are included in this category. Level 2 - valuation techniques based on inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. In these consolidated financial statements, ABcann share purchase warrants are included in this category. Level 3 - valuation techniques using the inputs for the asset or liability that are not based on observable market data. In these consolidated financial statements, other investments (Evergreen), and biological assets are included in this category. The Company's policy for determining when transfers between levels of the fair value hierarchy occur is based on the date of the event or changes in circumstances that caused the transfer. During the year ended December 31, 2018, there were no transfers between levels. During the year ended December 31, 2017, Hydropothecary and ABcann became publicly traded. Due to these events, the investment in Hydropothecary and ABcann were transferred out of Level 3 as the inputs for the valuation of the investment were no longer unobservable. The investment in Hydropothecary and ABcann were transferred into Level 1 of the fair value hierarchy, as the valuations of the investments were based on quoted prices in an active market. For all financial instruments classified as amortized cost, the carrying value approximates fair value. |
Capital management
Capital management | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Objectives Policies And Processes For Managing Capital [Abstract] | |
Capital management | 27. Capital management The Company's objectives when managing its capital are to maintain a sufficient capital base to: (i) meet its short-term obligations, (ii) sustain future operations and expansions, (iii) ensure its ability to continue as a going concern, and (iv) retain stakeholder confidence. The Company defines capital as its net assets, total assets less total liabilities. As at December 31, 2018, the Company managed net assets of $211,640 (2017 - $86,368). |
Subsequent events
Subsequent events | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Nonadjusting Events After Reporting Period [Abstract] | |
Subsequent events | 28. Subsequent events (a) On January 11, 2019, the Company sold all remaining 11,062 shares of Canopy for net proceeds of $471, resulting in a gain of $66 recognized as other comprehensive income. (b) On January 23, 2019, the Company announced that it had entered into a credit agreement with Canadian Imperial Bank of Commerce, as administrative agent and lender, and the Bank of Montreal, as lender, in respect of a $65 million secured non-revolving term loan credit facility (the "Credit Facility" (c) On January 28, 2019, the U.S. Securities Class Action Claims relating to Cronos Group and its CEO were voluntarily discontinued. Refer to Note 21(d). (d) On January 30, 2019, the unlawful termination claim by Mark Gobuty was settled and claims discontinued, with total settlement proceeds of $644 payable to Mr. Gobuty. This amount was released from trust on January 31, 2019. Refer to Note 21(c)(iii). (e) On March 4, 2019, the Company announced that it had sold all 2,563 shares of Whistler, representing approximately 19.0% of Whistler’s issued and outstanding common shares, to Aurora Cannabis Inc. ( "Aurora" "Whistler Transaction" “VWAP” (f) On March 8, 2019, the Company announced that the previously announced investment in the Company (the "Altria Investment" "Altria" "Subscription Agreement" "Altria Warrant" "Altria Warrant Certificate" (g) Subsequent to December 31, 2018, a total of 47,005 share appreciation rights were exercised, in lieu of the associated options, in exchange for 37,065 common shares. Also, subsequent to December 31, 2018, a total of 375 stock options were exercised for $1 in cash and 2,479 stock options were cancelled. These share appreciation right and stock option exercises had a weighted average exercise price of $2.18 per common share. (h) Subsequent to December 31, 2018, a total of 4,390,961 warrants were exercised in exchange for $1,180 in cash. These warrants had a weighted average exercise price of $0.27 per common share. |
Significant accounting polici_2
Significant accounting policies (Policies) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Summary Of Significant Accounting Policies [Abstract] | |
Revenue recognition | (a) Revenue recognition Revenue is recognized at the transaction price, which is the amount of consideration to which the Company expects to be entitled in exchange for transferring promised goods to a customer. Gross revenue includes excise taxes, which the Company pays as principal, but excludes duties and taxes collected on behalf of third parties. Net revenue from sale of goods, as presented in the consolidated statement of operations and comprehensive income (loss), represents revenue from the sale of goods less applicable excise taxes, expected price discounts, and allowances for customer returns. Excise taxes are a production tax which become payable when a cannabis product is delivered to the customer and are not directly related to the value of revenue. The Company's contracts with customers for the sales of dried cannabis and cannabis oil consist of one performance obligation. The Company has concluded that revenue from the sale of these products should be recognized at the point in time when control is transferred to the customer, which is on shipment or delivery, depending on the contract. Customer contracts for international sales of dry cannabis include profit sharing arrangements with distributors which give rise to variable consideration. If the consideration in a contract includes a variable amount, the Company estimates the amount of consideration to which it will be entitled in exchange for transferring the goods to the customer. The variable consideration is estimated as the most likely amount, based on the Company's historical information, at contract inception. The Company's payment terms vary by the type of customer. For individual consumer sales, payment is due prior to the transfer of control. For domestic non-consumer sales, payment is due 60 days after the transfer of control. For international sales, fixed consideration is due 30 days, and variable consideration is due a maximum of 120 days, after transfer of control, respectively. |
Investments in equity accounted investees | (b) Investments in equity accounted investees An associate is an entity over which the Company has significant influence. Significant influence is the power to participate in the financial and operating policy decisions of the investee without control or joint control over those decisions. Significant influence is presumed if the Company holds between 20% and 50% of the voting rights, unless evidence exists to the contrary. A joint venture is a type of joint arrangement whereby the Company has joint control over, and rights to the net assets of the joint arrangement. Joint control is the contractually agreed sharing of control of an arrangement, which exists only when decisions about the relevant activities require the unanimous consent of the parties sharing control. Investments in associates and joint ventures are accounted for using the equity method. The Company's interest in an investee is initially recorded at cost and is subsequently adjusted for the Company's share of changes in the net assets of the investee, less any impairment in the value of individual investments, and any dividends paid. Where the Company transacts with an investee, unrealized profits and losses are eliminated to the extent of the Company's interest in that investee. |
Biological assets and inventory | (c) Biological assets and inventory The Company measures biological assets consisting of cannabis plants, at fair value less costs to sell up to the point of harvest. Costs incurred to transform biological assets to the point of harvest ( "production costs" 3. Significant accounting policies (continued) (c) Biological assets and inventory (continued) Inventories of finished goods and work-in-process are valued at the lower of cost and net realizable value. Inventories of harvested cannabis are transferred from biological assets at their fair value at the point of harvest, which becomes the initial deemed cost. Any subsequent post-harvest costs (" processing costs Upon the sale of inventory, the capitalized production costs and processing costs are recorded in cost of sales before fair value adjustments in the consolidated statement of operations and comprehensive income (loss). The related realized fair value adjustments on inventory sold in the year is recorded separately in the consolidated statement of operations and comprehensive income (loss) |
Intangible assets | (d ) Intangible assets Intangible assets are recorded at cost less any accumulated amortization and accumulated impairment losses. Impairment for intangible assets with finite lives is tested if there is any indication of impairment. Intangible assets acquired through a business combination are measured at fair value at the acquisition date. Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates: Method Rate Software Double declining 50% Health Canada Licenses Straight-line Useful life of corresponding facilities Israeli Codes Straight-line Useful life of corresponding facilities Amortization begins when assets become available for use. The estimated useful life, amortization method, and rate are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. |
Research and development costs | (e ) Research and development costs Research costs are expensed as incurred. Development expenditures are capitalized only if development costs can be measured reliably, the product or process is technically and commercially feasible, future economic benefits are probable, and the Company intends, and has sufficient resources, to complete development and use or sell the product or process. All other development costs are expensed as incurred. |
Property, plant and equipment | (f) Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. The assets are depreciated over their estimated useful lives using the following methods and rates: Method Rate Building structures Straight-line 15 to 20 years Furniture and equipment Straight-line 5 years Computer equipment Straight-line 3 years Security equipment Straight-line 5 years Production equipment Straight-line 7 years Road Straight-line 25 years Leasehold improvements Straight-line 5 to 10 years Equipment under finance lease Straight-line Lesser of term of lease and useful life of equipment The estimated residual value, useful life and depreciation method are reviewed at the end of each reporting period, with the effect of any changes in estimate being accounted for on a prospective basis. When parts of an item of property, plant and equipment have different useful lives, they are accounted for as separate components. Construction in progress is transferred to the appropriate asset class when the building is available for use, which is defined as the point at which the building receives the Health Canada licenses to (i) possess cannabis, (ii) to obtain dried cannabis, fresh cannabis, cannabis plants or cannabis plant seeds by cultivating, propagating and harvesting cannabis, and (iii) to produce cannabis, other than obtaining it by cultivating, propagating, or harvesting. Depreciation commences at the point the assets are classified as available for use. |
Provisions | (g) Provisions A provision is recorded when it becomes probable that a present obligation arising from a past event will require an outflow of resources that can be reliably estimated. The amount of the provision recorded, if any, is management's best estimate of the outflow of resources required to settle the obligation. Where a potential obligation resulting from past events exists, but occurrence of the outflow of resources is not probable or the estimate is not reliable, these contingent liabilities are disclosed as contingencies. |
Share capital | (h) Share capital Share capital is presented at the fair value of the shares issued. Costs related to the issuance of shares are reported in equity, net of tax, as a deduction from the issuance proceeds. |
Foreign exchange translation | ( i ) Foreign exchange translation Translation of foreign currency transactions Transactions in foreign currencies are translated into the functional currency using the exchange rate prevailing at the date of the transaction. At each reporting date, foreign currency denominated monetary assets and liabilities are translated at year-end exchange rates. Exchange differences arising from operating transactions are recorded in profit or loss for the period; exchange differences related to financing transactions are recognized in finance income or directly in equity. Translation of foreign operations The assets and liabilities of Cronos Israel are translated into Canadian dollars at year-end exchange rates. Income and expenses, and cash flows are translated into Canadian dollars using average exchange rates. Differences resulting from translating foreign operations are reported as translation differences in other comprehensive income, and accumulated in equity. When a foreign operation is disposed of, the translation differences previously recognized in equity are reclassified to profit or loss. 3. Significant accounting policies (continued) |
Income taxes | (j) Income taxes The Company accounts for its income taxes using the liability method. Deferred income tax assets and liabilities are determined based on the difference between the carrying amount and the tax basis of the assets and liabilities. Any change in the net amount of deferred income tax assets and liabilities is included in profit or loss, except for changes related to the components of other comprehensive income or equity, in which case the tax expense is recognized in other comprehensive income or equity, respectively. Deferred income tax assets and liabilities are determined based on enacted or substantively enacted tax rates and laws which are expected to apply to taxable profit for the years in which the assets and liabilities will be recovered or settled. Deferred income tax assets are recorded when their recoverability is considered probable and are reviewed at the end of each reporting period. Deferred income tax assets and liabilities are not discounted. |
Share-based payments | (k) Share-based payments Equity instruments granted are initially measured at fair value at the grant date. Where equity instruments are granted to employees, they are measured at the fair value of the equity instruments granted, determined using the Black-Scholes valuation model, which is recognized in the consolidated statement of operations and comprehensive income (loss) over the vesting period. Where equity instruments are granted to non-employees, they are measured at the fair value of the goods or services received. The related costs for all equity-settled stock-based payments are reflected in share-based reserve, until the instruments are exercised. Upon exercise, shares are issued from treasury and the amount previously reflected in the share-based reserve is, along with any proceeds paid upon exercise, credited to share capital. |
Earnings (loss) per share | (l) Earnings (loss) per share The Company presents basic and diluted earnings (loss) per share data for its common shares. Basic earnings (loss) per share is calculated by dividing the profit or loss attributable to common shareholders of the Company by the weighted average number of common shares outstanding during the period. Diluted earnings (loss) per share is determined by adjusting the profit or loss attributable to common shareholders and the weighted average number of common shares outstanding, for the effects of all potentially dilutive common shares, which comprise warrants, stock options, and share appreciation rights. |
Financial instruments | 3. Significant accounting policies (continued) (m) Financial instruments All financial instruments are initially recorded at fair value at the time of acquisition. The Company aggregates its financial instruments in accordance with IFRS 9, Financial Instruments, into classes based on their nature and characteristics. Management determines the classification when the instruments are initially recognized, which is normally the date of the transaction. The Company's accounting policy for each class of financial instruments is as follows: Classification Financial instruments Accounting policy Amortized cost Cash, accounts receivable, other receivables, loan receivable, advances to joint ventures, accounts payable and other liabilities, holdbacks payable, construction loan payable, due to non-controlling interests These financial instruments are initially recognized at fair value plus directly attributable transaction costs. Subsequently, these instruments are measured at amortized cost using the effective interest method. Financial assets are adjusted for any ECLs. ( i ) Fair value through profit or loss Other investments (investment in warrants of AbCann Global Corp.) These financial instruments are initially recognized at fair value; all transaction costs are recognized immediately in profit or loss. Subsequently, these instruments are recognized at fair value at each reporting date. Any changes in fair value, and gains or losses upon disposition of the financial instruments are recognized in profit or loss. Fair value through other comprehensive income (equity instruments) Other investments (investments in Canopy Growth Corporation, Evergreen Medicinal Supply Inc.) These equity instruments are irrevocably classified in this category, and are initially recognized at fair value, plus directly attributable transaction costs. Subsequently, these instruments are recognized at fair value at each reporting date. Any changes in fair value and gains or losses upon disposition of the financial instruments are recognized in other comprehensive income in the period during which the change occurs. ( i ) Critical to the determination of ECLs is the definition of default and the definition of a significant increase in credit risk. The definition of default is used in measuring the amount of ECLs and in the determination of whether the loss allowance is based on a 12-month or lifetime ECLs. The Company considers the following as constituting an event of default: the borrower is past due more than 90 days on any material credit obligation, or the borrower is unlikely to pay its credit obligations to the Company in full. The Company monitors all financial assets that are subject to the impairment requirements to assess whether there has been a significant increase in credit risk since initial recognition. If there has been a significant increase in credit risk, the Company will measure the loss allowance based on lifetime rather than 12-month ECLs. In assessing whether the credit risk on a financial asset has increased significantly since initial recognition, the Company compares the risk of a default occurring on the financial asset at the reporting date based on the remaining maturity of the instrument with the risk of a default occurring that was anticipated for the remaining maturity at the current reporting date when the financial asset was first recognized. |
Business combinations and consolidation | (n) Business combinations and consolidation Business combinations are accounted for using the acquisition method. The cost of an acquisition is measured as the aggregate of the consideration transferred, which is measured at fair value at acquisition date, and the amount of any non-controlling interests in the acquiree. Acquisition-related costs are expensed as incurred. All intercompany transactions and balances are eliminated upon consolidation. |
Basis of presentation (Tables)
Basis of presentation (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Basis Of Presentation [Abstract] | |
Summarized Consolidated Financial Statements | These consolidated financial statements include the accounts of Cronos Group Inc. and its subsidiaries, summarized in the following chart. Subsidiaries Jurisdiction of incorporation Incorporation date Ownership interest Hortican Inc. ( "Hortican" Canada January 17, 2013 100% Peace Naturals Project Inc. Canada November 21, 2012 100% Original BC Ltd. Canada March 15, 2013 100% Cronos Canada Holdings Inc. Canada March 13, 2018 100% Cronos Global Holdings Inc. Canada April 25, 2017 100% Cronos Israel G.S. Cultivations Ltd. ( i ) Israel February 4, 2018 70% Cronos Israel G.S. Manufacturing Ltd. ( i ) Israel September 4, 2018 90% Cronos Israel G.S. Store Ltd. ( i ) Israel June 28, 2018 90% Cronos Israel G.S. Pharmacies Ltd. ( i ) Israel February 15, 2018 90% Cronos Group Celtic Holdings Ltd. Ireland February 6, 2018 100% Cronos Malta Holdings Ltd. Malta October 25, 2018 100% ( i ) These Israeli entities are collectively known as "Cronos Israel" |
Summary of Company's Investments in Equity Accounted Investees | The Company's investments in equity accounted investees are summarized in the following chart Equity accounted investees Jurisdiction of incorporation Ownership interest Whistler Medical Marijuana Company ( "Whistler" Canada 19% (2017 - 20.3%) Cronos Australia Limited ( "Cronos Australia" Australia 50% MedMen Canada Inc. ( "MedMen Canada" Canada 50% Cronos Growing Company Inc. ( "Cronos GrowCo" Canada 50% NatuEra S.à r.l Luxembourg 50% |
Significant accounting polici_3
Significant accounting policies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Summary Of Significant Accounting Policies [Abstract] | |
Summary of Amortization Method and Rate of Estimated Useful Life of Intangible Assets | Intangible assets with finite useful lives are amortized over their estimated useful lives using the following methods and rates: Method Rate Software Double declining 50% Health Canada Licenses Straight-line Useful life of corresponding facilities Israeli Codes Straight-line Useful life of corresponding facilities |
Summary of Basis Depreciation of Property, Plant and Equipment | Property, plant and equipment are stated at cost less accumulated depreciation and accumulated impairment losses. The assets are depreciated over their estimated useful lives using the following methods and rates: Method Rate Building structures Straight-line 15 to 20 years Furniture and equipment Straight-line 5 years Computer equipment Straight-line 3 years Security equipment Straight-line 5 years Production equipment Straight-line 7 years Road Straight-line 25 years Leasehold improvements Straight-line 5 to 10 years Equipment under finance lease Straight-line Lesser of term of lease and useful life of equipment |
Summary of detailed information about financial instruments | The Company's accounting policy for each class of financial instruments is as follows: Classification Financial instruments Accounting policy Amortized cost Cash, accounts receivable, other receivables, loan receivable, advances to joint ventures, accounts payable and other liabilities, holdbacks payable, construction loan payable, due to non-controlling interests These financial instruments are initially recognized at fair value plus directly attributable transaction costs. Subsequently, these instruments are measured at amortized cost using the effective interest method. Financial assets are adjusted for any ECLs. ( i ) Fair value through profit or loss Other investments (investment in warrants of AbCann Global Corp.) These financial instruments are initially recognized at fair value; all transaction costs are recognized immediately in profit or loss. Subsequently, these instruments are recognized at fair value at each reporting date. Any changes in fair value, and gains or losses upon disposition of the financial instruments are recognized in profit or loss. Fair value through other comprehensive income (equity instruments) Other investments (investments in Canopy Growth Corporation, Evergreen Medicinal Supply Inc.) These equity instruments are irrevocably classified in this category, and are initially recognized at fair value, plus directly attributable transaction costs. Subsequently, these instruments are recognized at fair value at each reporting date. Any changes in fair value and gains or losses upon disposition of the financial instruments are recognized in other comprehensive income in the period during which the change occurs. |
Adoption of new accounting pr_2
Adoption of new accounting pronouncements (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Initial Application Of Standards Or Interpretations [Abstract] | |
Summary of Accounting Standard Impact on Financial Instruments | IFRS 9 IAS 39 Financial assets Cash Amortized cost FVTPL Accounts receivable Amortized cost Amortized cost Other receivables Amortized cost Amortized cost Loan receivable Amortized cost Amortized cost Advances to joint ventures Amortized cost Amortized cost Other investments (Refer to Note 11) FVTPL - ABcann share warrants FVOCI - Canopy, ABcann shares, Evergreen FVTPL - ABcann share warrants Available-for-sale - Canopy, ABcann shares, Evergreen Financial liabilities Accounts payable and other liabilities Amortized cost Amortized cost Holdbacks payable Amortized cost Amortized cost Construction loan payable Amortized cost Amortized cost |
Accounting Changes (Tables)
Accounting Changes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Voluntary Change In Accounting Policy [Abstract] | |
Summary of Impact on Changes in Accounting Policy | There is no impact of this policy change on gross profit, net income (loss), basic and diluted earnings per share, the consolidated statement of financial position, or the consolidated the statement of changes in equity on the current or any prior period, upon retrospective application. 2018 2017 Original accounting policy New accounting policy Original accounting policy New accounting policy Consolidated statement of operations and comprehensive income (loss) Cost of sales Cost of sales before fair value adjustments $ 2,942 $ 7,654 $ 609 $ 2,040 Production costs 7,145 - 3,983 - Total cost of sales 10,087 7,654 4,592 2,040 Gross profit (loss) before fair value adjustments 5,616 8,049 (510 ) 2,042 Fair value adjustments: Unrealized change in fair value of biological assets (18,713 ) (11,568 ) (11,620 ) (7,637 ) Realized fair value adjustments on inventory sold in the year 13,061 8,349 3,880 2,449 Total fair value adjustments (5,652 ) (3,219 ) (7,740 ) (5,188 ) Gross profit $ 11,268 $ 11,268 $ 7,230 $ 7,230 2018 2017 Original accounting policy New accounting policy Original accounting policy New accounting policy Consolidated statement of cash flows Operating activities Items not affecting cash: Unrealized change in fair value of biological assets $ (18,713 ) $ (11,568 ) $ (11,620 ) $ (7,637 ) Realized fair value adjustments on inventory sold in the year 13,061 8,349 3,880 2,449 Net changes in non-cash working capital: Biological assets 13,361 6,216 9,693 5,710 Inventory (16,229 ) (11,517 ) (10,388 ) (8,957 ) Net effect on cash flows used in operating activities $ (8,520 ) $ (8,520 ) $ (8,435 ) $ (8,435 ) |
Biological assets and invento_2
Biological assets and inventory (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Schedule of Changes in Carrying Amount of Biological Assets | The Company's biological assets consist of cannabis plants. The changes in the carrying amounts of the biological assets are as follows: 2018 (Note 6) 2017 (Note 6) Biological assets - beginning of year $ 3,722 $ 1,795 Capitalization of production costs 7,145 3,983 Unrealized change in fair value of biological assets 11,568 7,637 Transferred to inventory upon harvest (13,361 ) (9,693 ) Biological assets - end of year $ 9,074 $ 3,722 |
Schedule of Biological Inventory | Inventory as at December 31, 2018 consisted of the following: 2018 2017 kg $ kg $ Dry cannabis Finished goods 187 kg $ 972 815 kg $ 6,145 Work-in-process 1,789 kg 7,733 243 kg 1,630 8,705 7,775 Cannabis oils Finished goods 115 kg 656 18 kg 332 Work-in-process 220 kg 1,250 nil kg - 1,906 332 Raw materials ( i ) 171 ( i ) 183 Supplies and consumables 802 126 $ 11,584 $ 8,416 ( i ) Raw materials consisted of 0.267 kg (2017 - 0.288 kg) of seeds held by the Company as at December 31, 2018. |
Schedule of Direct and Indirect Costs Related to Biological Assets and Inventory | The direct and indirect costs related to biological assets and inventory are allocated as follows. The allocation basis was consistent for the years ended December 31, 2018 and 2017, unless otherwise specified. Nature of cost Allocation basis Consumables (insect control, fertilizers, soil) 100% allocated to production costs; incurred to support plant growth Labour costs (including salaries and benefits) Allocated based on job descriptions of various personnel; 30% allocated to processing costs; 40% allocated to production costs; 30% allocated to operating expenses (2017 - 20%; 70%; and 10%; respectively) Supplies and small tools 80% allocated to production costs; 20% allocated to processing costs Utilities Allocated based on estimates of usage, 10% allocated to processing costs; 90% allocated to production costs Property taxes, depreciation, security Allocated based on estimates of square footage, 20% allocated to processing costs; 50% allocated to production costs; 30% allocated to operating expenses Packaging costs 100% allocated to processing costs |
Sensitivity Analysis of Impact on Fair Value of Biological Assets | The Company has made the following estimates related to significant inputs in the valuation model: Significant inputs Allocation basis Net selling price per gram Estimated net selling price per gram of dry cannabis based on historical sales and anticipated prices, after adjustment for excise taxes Harvest yield per plant Expected grams of dry cannabis to be harvested from a cannabis plant, based on the weighted average historical yields by plant strain Stage of growth Weighted average plant age (in weeks) out of the 16 week growing cycle as of the period end date Processing costs per gram Estimated post-harvest costs per gram to bring a gram of harvested cannabis to its saleable condition, including drying, curing, testing and packaging, and overhead allocation; estimated based on post-harvest costs incurred during the period divided by number of grams processed during the period Selling costs per gram Estimated shipping, order fulfillment, and labelling costs per gram; calculated as selling costs incurred during the period divided by number of grams sold during the period Equivalency factor Estimated grams of dry cannabis required to produce one milliliter of cannabis oil; estimated based on historical results Mass multipliers Estimated multiples of crude extract and isolate mass in diluted cannabis oil products |
Schedule of Sensitivity Analysis for Impacts on Value of Assets | Significant inputs and sensitivity analyses The following table quantifies each of the significant unobservable inputs described above and provides a sensitivity analysis of the impact on the reported values of biological assets and inventory. The sensitivity analysis for each significant input is performed by assuming a 5% decrease in the input while other significant inputs remain constant at management's best estimate as of the period end date. Increase (decrease) as at December 31, 2018 Increase (decrease) as at December 31, 2017 As at December 31, 2018 Biological assets Inventory As at December 31, 2017 Biological assets Inventory Net selling price per gram $5.58/g $ (673 ) $ (640 ) $8.50/g $ (227 ) $ (443 ) Harvest yield per plant 137 g (446 ) - 182 g (181 ) - Stage of growth 6 weeks (446 ) - 7 weeks (181 ) - Processing costs per gram $1.98/g 175 65 $0.82/g 22 9 Selling costs per gram $0.43/g 52 50 $0.97/g 227 443 Equivalency factor 0.3 g/mL (45 ) 104 0.3 g/mL (1 ) (17 ) Mass multipliers 30x - 50x (5 ) (24 ) n/a n/a n/a |
Loan receivable (Tables)
Loan receivable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Information for Loan Receivable | 2018 2017 Loan receivable from Evergreen Medicinal Supply Inc. ( "Evergreen" ( i ) $ 265 $ 265 Add: Accrued interest 49 49 Loan receivable $ 314 $ 314 ( i ) The loan is due on demand. The loan accrued interest at 8% per year, up to March 31, 2017, calculated and payable annually in arrears. Refer to Note 11(ii) for details. |
Advances to joint ventures (Tab
Advances to joint ventures (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Advances to Joint Ventures | 2018 2017 Cronos Australia ( i ) $ 990 $ - Cronos GrowCo (ii) 4,080 - MedMen Canada (ii) 1,871 - $ 6,941 $ - ( i ) $940 ($1,000 Australian dollars, "AUD" (ii) Advances are unsecured, non-interest bearing, and there are no terms of repayment. Refer to Note 10(ii) and (iii) for details regarding the Company's investments in MedMen Canada and Cronos GrowCo, respectively. |
Investments in equity account_2
Investments in equity accounted investees (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Investments In Associates And Joint Ventures [Abstract] | |
Summary of Reconciliation of Carrying Amount of Investments in Associates and Joint Ventures | A reconciliation of the carrying amount of the investments in associates and joint ventures is as follows: Whistler ( i ) MedMen Canada (ii) Cronos GrowCo (iii) Cronos Australia (iv) Total As at January 1, 2017 $ 2,566 $ - $ - $ - $ 2,566 Capital contributions 1,076 - - - 1,076 Share of net income 165 - - - 165 As at December 31, 2017 $ 3,807 $ - $ - $ - $ 3,807 Capital contributions - 101 100 420 621 Share of net income (loss) 231 (276 ) (129 ) (762 ) (936 ) As at December 31, 2018 $ 4,038 $ (175 ) $ (29 ) $ (342 ) $ 3,492 ( i ) Whistler was incorporated in British Columbia, Canada and is a License Holder with production facilities in British Columbia, Canada. Although the Company held less than 20% of the ownership interest and voting control of Whistler, the Company had the ability to exercise significant influence through both its power to elect board members, and aggregately, with affiliated shareholders, the Company held over 20% of the voting control of Whistler. Subsequent to December 31, 2018, the Company fully divested of its investment in Whistler. Refer to Note 28(e). (ii) MedMen Canada was incorporated under the Canada Business Corporations Act (" CBCA (iii) Cronos GrowCo was incorporated under the CBCA on June 14, 2018, with the objective of building a cannabis production greenhouse, applying for cannabis licenses under the Cannabis Act, and growing, cultivating, extracting, producing, selling, and distributing cannabis in accordance with such licenses. (iv) Cronos Australia Pty. Ltd. was incorporated under the Corporations Act 2001 (Australia) on December 6, 2016. On September 27, 2018, Cronos Australia Pty. Ltd. underwent a restructuring, resulting in the incorporation of Cronos Australia Limited on that date, which became the ultimate holding company of the group, owning 100% of Cronos Australia Group Pty. Ltd., which owns 100% of Cronos Australia - Marketing & Distribution Pty. Ltd., Cronos Australia - Operations Pty. Ltd, and Cronos Australia – New Zealand Ltd. Cronos Group has committed to provide 50% of the capital expenditure and operating expense funding requirements, amounting to approximately $10,000. The timing of these funding obligations has not been determined as of December 31, 2018. |
Summary of Financial Information for Significant Associates and Joint Ventures | The following is a summary of financial information for the Company's significant associates and joint ventures as at December 31: Whistler MedMen Canada Cronos GrowCo Cronos Australia 2018 Current assets $ 6,307 $ 1,521 $ 603 $ 1,280 $ 9,711 Non-current assets 26,743 - 9,762 491 36,996 Current liabilities 1,191 - 2,200 1,718 5,109 Non-current liabilities 6,841 1,871 8,233 1,058 18,003 Revenue $ 6,923 $ - $ - $ - $ 6,923 Income (loss) from continuing operations 1,213 (552 ) (269 ) (1,524 ) (1,132 ) 10. Investments in equity accounted investees (continued) Whistler MedMen Canada Cronos GrowCo Cronos Australia 2017 Current assets $ 4,163 $ - $ - $ - $ 4,163 Non-current assets 13,645 - - - 13,645 Current liabilities 3,676 - - - 3,676 Non-current liabilities - - - - - Revenue $ 3,813 $ - $ - $ - $ 3,813 Income from continuing operations 814 - - - 814 |
Other investments (Tables)
Other investments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of fair value of other investments through other comprehensive income and profit or loss. | Other investments consist of investments in common shares and warrants of several companies in the cannabis industry. These investments, with the exception of shares of Evergreen and warrants of ABcann Global Corporation (now known as "ABcann" 2018 2017 Fair value through other comprehensive income investments Canopy Growth Corporation ( "Canopy" ( i ) $ 405 $ 877 Evergreen (ii) 300 300 $ 705 $ 1,177 Fair value through profit or loss investment ABcann - share warrants (iii)(v) - 170 $ 705 $ 1,347 |
Summary of gains (losses) recognized through profit or loss and through other comprehensive income from changes in fair value and disposals of other investments | The gains (losses) recognized upon the increase (decrease) in the fair value of other investments were as follows: 2018 2017 Gain recognized in net income (loss) Canopy ( i ) $ - $ 36 ABcann - shares (iii) - 4,160 ABcann - share warrants (iii)(v) 221 5 The Hydropothecary Corporation ( "Hydropothecary" (iv) - 657 $ 221 $ 4,858 2018 2017 Gain (loss) recognized in other comprehensive income (loss) before taxes Canopy ( i ) $ 215 $ 608 ABcann - shares (iii) (224 ) - $ (9 ) $ 608 11. Other investments (continued) ( i ) During the year ended December 31, 2018, the Company sold 18,436 shares of Canopy (2017 - 7,374) for proceeds of $687 (2017 - $88). Subsequent to December 31, 2018, the Company fully divested of its investment in Canopy. Refer to Note 28(a). (ii) On March 16, 2017, Evergreen received a cultivation license under the Cannabis Act. As a result, the Company completed its subscription for a second tranche of shares of Evergreen for $100 and exercised its option to acquire an additional 5% of the equity of Evergreen for $500, for a total additional investment of $600. However, Evergreen, through its counsel, has indicated that the Company is not entitled to any interest in Evergreen and has rejected the payment. The Company filed a statement of claim in the Supreme Court of British Columbia and Evergreen has filed a statement of defense. The Company intends to vigorously pursue the enforcement of its rights to acquire equity in Evergreen. (iii) During the year ended December 31, 2017, ABcann completed a reverse takeover with Panda Capital Inc. As a result of this transaction, ABcann began trading on the TSX. The Company subscribed for additional shares of ABcann of $1,016 and sold 8,770,001 shares of ABcann for proceeds of $9,859 during the year ended December 31, 2017. During the year ended December 31, 2018, the Company exercised 182,927 share warrants for aggregate consideration of $113, for additional shares of ABcann. Prior to the exercise, the share warrants were revalued to fair value using the Black-Scholes option pricing model. During the year ended December 31, 2018, the Company sold all 182,927 shares of ABcann for proceeds of $280. (iv) During the year ended December 31, 2017, BFK Capital Corp. acquired all of the outstanding shares of Hydropothecary (currently operating as HEXO Corp. and trading as TSX: HEXO). As a result of this transaction, Hydropothecary executed a 6:1 stock split. During the year ended December 31, 2017, the Company sold all 550,002 shares of Hydropothecary for proceeds of $932. The cumulative gain previously recognized as other comprehensive income on these shares was reclassified to income during 2017. (v) During the year ended December 31, 2017, the Company exercised 3,658,537 warrants for aggregate consideration of $2,268 for additional shares of ABcann. As at December 31, 2017, the fair value of the warrants was estimated using the Black-Scholes option pricing model with the following assumptions: risk free rate: 1.66%; volatility: 65%; share price: $1.53 per share; expected life: 0.76 years; and dividend yield: nil%. |
Property, plant and equipment (
Property, plant and equipment (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Property Plant And Equipment [Abstract] | |
Summary of Property Plant and Equipment | Cost As at January 1, 2018 Additions ( i ) Transfers As at December 31, 2018 Land $ 1,558 $ 1,649 $ - $ 3,207 Building structures 11,518 5,417 4,717 21,652 Furniture and equipment 134 542 - 676 Computer equipment 148 316 - 464 Security equipment 886 99 - 985 Production equipment 2,481 2,342 - 4,823 Road 137 - - 137 Leasehold improvements 1,497 87 - 1,584 Equipment under finance lease (iii) - 217 - 217 Construction in progress 39,337 106,853 (4,717 ) 141,473 $ 57,696 $ 117,522 $ - $ 175,218 12. Property, plant and equipment (continued) Accumulated depreciation As at January 1, 2018 Additions (ii) Transfers As at December 31, 2018 Building structures $ 433 $ 751 $ - $ 1,184 Furniture and equipment 43 78 - 121 Computer equipment 75 94 - 169 Security equipment 196 188 - 384 Production equipment 431 465 - 896 Road 10 7 - 17 Leasehold improvements 336 174 - 510 Equipment under finance lease (iii) - 46 - 46 $ 1,524 $ 1,803 $ - $ 3,327 Net book value $ 56,172 $ 171,891 Cost As at January 1, 2017 Additions ( i ) Transfers As at December 31, 2017 Land $ 1,558 $ - $ - $ 1,558 Building structures 2,761 2,723 6,034 11,518 Furniture and equipment 63 71 - 134 Computer equipment 88 60 - 148 Security equipment 474 412 - 886 Production equipment 2,106 375 - 2,481 Road 137 - - 137 Leasehold improvements 1,429 68 - 1,497 Construction in progress 6,034 39,337 (6,034 ) 39,337 $ 14,650 $ 43,046 $ - $ 57,696 Accumulated depreciation As at January 1, 2017 Additions (ii) Transfers As at December 31, 2017 Building structures $ 120 $ 313 $ - $ 433 Furniture and equipment 18 25 - 43 Computer equipment 36 39 - 75 Security equipment 60 136 - 196 Production equipment 103 328 - 431 Road 5 5 - 10 Leasehold improvements 186 150 - 336 $ 528 $ 996 $ - $ 1,524 Net book value $ 14,122 $ 56,172 ( i ) During the year ended December 31, 2018, there were non-cash additions from the amortization of capitalized transaction costs and the capitalization of accrued interest to construction in progress and building structures amounting to $762 (2017 - $345). Refer to Note 15. In addition, there were land clearing costs and construction costs amounting to $2,092 that were paid by non-controlling interests, and outstanding as at December 31, 2018 in the form of advances. These advances accrued interest of $44 which was capitalized to construction in progress. Refer to Note 14. (ii) During the year ended December 31, 2018, $484 (2017 - $455) of depreciation expense was recorded as part of cost of sales. An additional $770 of depreciation expense remained capitalized in biological assets and inventory, as at December 31, 2018 (2017 - $nil). (iii) As at December 31, 2018 the net carrying amount of property, plant, and equipment includes equipment held under finance lease with a net carrying amount of $171 (2017 - $nil). |
Intangible assets and goodwill
Intangible assets and goodwill (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Reconciliation Of Changes In Intangible Assets And Goodwill [Abstract] | |
Schedule of Detailed Information of Intangible Assets | Intangible assets Cost As at January 1, 2017 Additions As at December 31, 2017 Additions As at December 31, 2018 Software $ - $ - $ - $ 360 $ 360 Health Canada Licenses - OGBC 1,611 - 1,611 - 1,611 Health Canada Licenses - Peace Naturals 9,596 - 9,596 - 9,596 Israeli Code - Cronos Israel G.S. Cultivations Ltd. ( i ) - - - 156 156 Israeli Code - Cronos Israel G.S. Manufacturing Ltd. ( i ) - - - 218 218 $ 11,207 $ - $ 11,207 $ 734 $ 11,941 ( i ) Israeli Codes were transferred by non-controlling interests to Cronos Israel in exchange for their equity interests in the Cronos Israel entities specified above. Refer to Note 14. Thus, these capital contributions are considered non-cash additions and have been excluded from the consolidated statement of cash flows. Accumulated amortization As at January 1, 2017 Additions As at December 31, 2017 Additions As at December 31, 2018 Software $ - $ - $ - $ 73 $ 73 Health Canada Licenses - OGBC - - - 101 101 Health Canada Licenses - Peace Naturals - - - 533 533 $ - $ - $ - $ 707 $ 707 Net book value $ 11,207 $ 11,207 $ 11,234 (b) Goodwill As at January 1, 2017 Additions As at December 31, 2017 Additions As at December 31, 2018 OGBC $ 392 $ - $ 392 $ - $ 392 Peace Naturals 1,400 - 1,400 - 1,400 $ 1,792 $ - $ 1,792 $ - $ 1,792 |
Summary of Key Assumptions Used in Estimation of Receivable Amounts of CGU | OGBC Peace Naturals Weighted average cost of capital (after-tax) 12% 12% Average growth rate* 0% 14% * The average growth rate is the annualized average of the expected year-over-year growth rate (in EBITDA) over five years. |
Subsidiaries with non-control_2
Subsidiaries with non-controlling interests (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |
Summarized Consolidated Financial Statements | These consolidated financial statements include the accounts of Cronos Group Inc. and its subsidiaries, summarized in the following chart. Subsidiaries Jurisdiction of incorporation Incorporation date Ownership interest Hortican Inc. ( "Hortican" Canada January 17, 2013 100% Peace Naturals Project Inc. Canada November 21, 2012 100% Original BC Ltd. Canada March 15, 2013 100% Cronos Canada Holdings Inc. Canada March 13, 2018 100% Cronos Global Holdings Inc. Canada April 25, 2017 100% Cronos Israel G.S. Cultivations Ltd. ( i ) Israel February 4, 2018 70% Cronos Israel G.S. Manufacturing Ltd. ( i ) Israel September 4, 2018 90% Cronos Israel G.S. Store Ltd. ( i ) Israel June 28, 2018 90% Cronos Israel G.S. Pharmacies Ltd. ( i ) Israel February 15, 2018 90% Cronos Group Celtic Holdings Ltd. Ireland February 6, 2018 100% Cronos Malta Holdings Ltd. Malta October 25, 2018 100% ( i ) These Israeli entities are collectively known as "Cronos Israel" |
Subsidiaries with non-controlling interests [member] | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |
Summarized Consolidated Financial Statements | Cronos Israel G.S. Cultivations Ltd. Cronos Israel G.S. Manufacturing Ltd. Total Percentage interest held by non-controlling interests 30 % 10 % Current assets $ 713 $ 690 $ 1,403 Non-current assets 4,345 6,705 11,050 Current liabilities 325 76 401 Non-current liabilities 4,775 5,826 10,601 Retained earnings (accumulated deficit) (42 ) 1,493 1,451 Attributable to: Cronos Group (29 ) 1,344 1,315 Non-controlling interests (13 ) 149 136 Revenue - - - Net loss (556 ) (682 ) (1,238 ) Attributable to: Cronos Group (389 ) (614 ) (1,003 ) Non-controlling interests (167 ) (68 ) (235 ) Other comprehensive income (loss) (2 ) 6 4 Attributable to: Cronos Group (1 ) 5 4 Non-controlling interests (1 ) 1 - Non-current liabilities include advances from non-controlling interests, in the amount of $2,092 plus accrued interest of $44. These advances are unsecured, bear interest at 5%, with no fixed terms of repayment. Refer to Note 25(d). |
Construction loan payable (Tabl
Construction loan payable (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Summary of Construction Loan Payable | 2018 2017 Aggregate advances $ 21,311 $ 6,304 Less: transaction costs (net of amortization) (481 ) (1,122 ) Add: accrued interest 121 185 $ 20,951 $ 5,367 |
Share-based payments (Tables)
Share-based payments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | |
Summary of Changes in Warrants | Weighted average exercise price Number of warrants Share-based reserve Balance at January 1, 2017 $ 0.24 45,885,172 $ 3,983 Exercise of warrants 0.23 (7,211,308 ) (619 ) Expiry of warrants 0.70 (19,210 ) - Balance at December 31, 2017 $ 0.24 38,654,654 $ 3,364 Exercise of warrants 0.14 (13,114,336 ) (1,816 ) Expiry of warrants 0.08 (82,695 ) - Balance at December 31, 2018 $ 0.26 25,457,623 $ 1,548 |
Summary of Outstanding Warrants | Grant date Expiry date Number of warrants Weighted average exercise price October 8, 2015 - October 28, 2015 October 8, 2020 - October 28, 2020 4,586,785 $ 0.31 May 13, 2016 - May 27, 2016 May 13, 2021 - May 27, 2021 20,870,838 0.25 25,457,623 $ 0.26 |
Summary of Changes in Options | Weighted average exercise price Number of options Share-based reserve Balance at January 1, 2017 $ 1.10 6,177,594 $ 735 Issuance of options 2.82 6,402,000 - Exercise of options 1.03 (571,246 ) (308 ) Cancellation of options 1.15 (404,598 ) - Vesting of issued options - - 1,862 Balance at December 31, 2017 $ 2.05 11,603,750 $ 2,289 Issuance of options 8.23 1,910,000 - Exercise of options 1.41 (597,379 ) (286 ) Cancellation of options 2.43 (13,376 ) - Vesting of issued options - - 4,238 Balance at December 31, 2018 $ 2.99 12,902,995 $ 6,241 |
Summary of Outstanding and Exercisable Options | Weighted average Grant date Vesting terms Expiry date Number of options Exercise price Remaining contractual life (in years) August 5, 2016 Evenly over 48 months August 5, 2021 1,058,334 $ 0.50 2.60 October 6, 2016 Evenly over 48 months October 6, 2021 3,411,699 1.23 2.77 November 21, 2016 Evenly over 48 months November 21, 2021 182,000 1.84 2.89 April 12, 2017 Evenly over 48 months April 12, 2022 3,273,020 3.14 3.28 August 23, 2017 Evenly over 48 months August 23, 2022 2,872,941 2.42 3.65 November 9, 2017 Evenly over 48 months November 9, 2022 200,000 3.32 3.86 January 30, 2018 Evenly over 48 months January 30, 2023 275,001 8.40 4.08 January 31, 2018 Evenly over 48 months January 31, 2023 150,000 9.00 4.09 May 18, 2018 Evenly over 48 months May 18, 2023 1,195,000 7.57 4.38 June 28, 2018 Evenly over 60 months June 28, 2023 180,000 8.22 4.49 September 13, 2018 Evenly over 48 months September 13, 2025 25,000 14.70 6.71 October 12, 2018 Evenly over 48 months October 12, 2025 30,000 11.80 6.79 December 14, 2018 Evenly over 20 quarters December 14, 2025 50,000 15.29 6.96 Outstanding at December 31, 2018 12,902,995 $ 2.99 3.35 Exercisable at December 31, 2018 5,648,656 $ 2.28 3.14 |
Summary of Fair Value of Options | The fair value of the options issued during the year was determined using the Black-Scholes option pricing model, using the following inputs: 2018 2017 Share price at grant date (per share) $7.57 - $15.29 $2.42 - $3.27 Exercise price (per option) $7.57 - $15.29 $2.42 - $3.32 Risk-free interest rate 1.93% - 2.45% 0.96% - 1.59% Expected life of options (in years) 5 - 7 5 Expected annualized volatility 55% 55% Expected dividend yield 0% 0% Weighted average Black-Scholes value at grant date (per option) $4.09 $1.39 |
Revenue from Contracts with C_2
Revenue from Contracts with Customers (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Abstract] | |
Summary of Disaggregation of Revenue from Contracts with Customers | The Company derives revenue from the transfer of goods at a point in time for the following major product lines and geographical regions: 2018 2017 Canadian Dry cannabis $ 12,219 $ 3,142 Cannabis oils 3,495 146 Other 232 195 15,946 3,483 International Dry cannabis $ 1,155 $ 598 Cannabis oils 44 1 1,199 599 Total gross revenue from contracts with customers $ 17,145 $ 4,082 |
Earnings (loss) per share (Tabl
Earnings (loss) per share (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Earnings Per Share [Abstract] | |
Summary of Basic and Diluted Earnings (loss) per Share | Basic and diluted earnings (loss) per share are calculated using the following numerators and denominators: 2018 2017 Numerator Net income (loss) attributable to common shareholders of Cronos Group $ (18,970 ) $ 2,491 Net income (loss) used in the computation of basic and diluted income (loss) per share $ (18,970 ) $ 2,491 Denominator Weighted average number of common shares outstanding for computation of basic income (loss) per share 172,269,170 134,803,542 Dilutive effect of warrants - 38,378,288 Dilutive effect of options and share appreciation rights - 3,607,331 Weighted average number of common shares for computation of diluted income (loss) per share 172,269,170 176,789,161 |
Related party transactions an_2
Related party transactions and balances (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Transactions Between Related Parties [Abstract] | |
Summary of Key Management Personnel | Key management personnel are persons responsible for planning, directing and controlling activities of an entity, and include executive and non-executive directors. Compensation provided to key management is as follows: 2018 2017 Short-term employee benefits, including salaries and fees $ 437 $ 417 Professional fees 343 234 Share-based payments 1,448 899 $ 2,228 $ 1,550 |
Commitments and contingencies (
Commitments and contingencies (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Maturity Analysis Of Operating Lease Payments [Abstract] | |
Summary of Minimum Payments Under Operating Lease Obligations for Its Premises Due in Future Fiscal Years | The following is a summary of the Company's minimum payments under operating lease obligations for its premises due in future fiscal years 2019 $ 810 2020 581 2021 586 2022 592 2023 653 2024 and onwards 2,728 $ 5,950 |
Income taxes (Tables)
Income taxes (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
Components of Tax Provision | The components of the income tax provision include: 2018 2017 Current $ - $ - Deferred 489 298 $ 489 $ 298 |
Reconciliation of Combined Canadian Federal and Provincial Statutory Income Tax Rate to Effective Tax Rate | The reconciliation of the combined Canadian federal and provincial statutory income tax rate of 26.5% (2017 - 26.5%) to the effective tax rate is as follows: 2018 2017 Income (loss) before income taxes $ (18,716 ) $ 2,789 Combined statutory tax rate 26.5 % 26.5 % Theoretical tax expense (recovery) $ (4,960 ) $ 739 Non-deductible expenses: Share-based payments 1,123 494 Meals and entertainment 18 - Non-taxable income: Non-taxable portion of capital gains (83 ) (762 ) Effect of provincial tax rate difference (4 ) 5 Changes in unrecognized deferred tax assets 4,395 (178 ) Income tax expense $ 489 $ 298 |
Summary of components of deferred tax | The components of deferred tax are summarized below. Deferred tax assets and liabilities have been offset where they relate to income taxes levied by the same taxation authority and the Company has the legal right and intent to offset. 2018 2017 Deferred tax assets Non-capital losses carried forward $ 5,175 $ 5,690 Financing fees 315 31 Scientific research and experimental development 55 28 Finance lease obligation 42 - Provisions 49 - Deferred tax liabilities Biological assets (1,676 ) (986 ) Inventory (1,639 ) (1,989 ) Investments in equity accounted investees (41 ) (153 ) Other investments (36 ) (91 ) Property, plant and equipment (1,285 ) (968 ) Intangible assets (2,809 ) (2,978 ) Net deferred tax liability $ (1,850 ) $ (1,416 ) |
Summary of changes in net deferred tax liability | The changes in the net deferred tax liability are provided below: 2018 2017 Balance - beginning of year $ 1,416 $ 1,457 Recognized in income 489 298 Recognized in other comprehensive income (55 ) (339 ) Balance - end of year $ 1,850 $ 1,416 |
Summary of Net Deferred Tax Asset Not Recognized | Deferred tax assets have not been recognized in respect of the following deductible temporary differences because it is not probable that future taxable profit will be available against which the Company can utilize the benefits therefrom: 2018 2017 Property, plant and equipment $ 1,090 $ 684 Share and debt issuance costs ( i ) 9,488 2,834 Losses carried forward (ii) 25,663 7,814 Equity accounted investments 923 - ( i ) Share and debt issuance costs will be fully amortized in 2023. The remaining deductible temporary differences may be carried forward indefinitely. (ii) For income tax purposes, the Company has non-capital losses carried forward from current and prior years which can be used to reduce future years' taxable income. These losses expire as follows: |
Summary of non-capital losses carried forward from current and prior years | For income tax purposes, the Company has non-capital losses carried forward from current and prior years which can be used to reduce future years' taxable income. These losses expire as follows: Non-capital losses 2030 $ 32 2031 22 2032 341 2033 2,547 2034 1,782 2035 5,452 2036 4,623 2037 4,502 2038 26,145 $ 45,446 |
Operating segment information (
Operating segment information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Operating Segments [Abstract] | |
Detailed Report of Segments | For the year ended December 31, 2017: Investing segment Operating segment Inter-segment elimination Total Consolidated statement of operations and comprehensive income (loss) Gross revenue $ - $ 4,082 $ - $ 4,082 Share of income from investments in equity accounted investees 165 - - 165 Unrealized change in fair value of biological assets (Note 6) - (7,637) - (7,637) Cost of sales before fair value adjustments (Note 6) - 2,040 - 2,040 Realized fair value adjustments on inventory sold in the year (Note 6) - 2,449 - 2,449 Gain on other investments 4,858 - - 4,858 Intercompany revenue 624 - (624 ) - Share-based payments 1,862 - - 1,862 Interest expense 1 600 (475 ) 126 Depreciation and amortization 71 470 - 541 Net income (loss) (368 ) 3,382 (523 ) 2,491 Consolidated statement of financial position Total assets $ 151,998 $ 70,198 $ (121,167 ) $ 101,029 Total liabilities 979 67,957 (54,275 ) 14,661 Shareholders' equity $ 151,019 $ 2,241 $ (66,892 ) $ 86,368 Other information Property, plant and equipment $ 1,153 $ 53,175 $ 1,844 $ 56,172 Additions to property, plant and equipment 139 42,908 - 43,046 |
Supplementary cash flow infor_2
Supplementary cash flow information (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Text Block1 [Abstract] | |
'Summary of Change in Non-Cash Working Capital | The net changes in non-cash working capital items are as follows: Notes 2018 2017 Accounts receivable 25(a) $ (3,023 ) $ (1,033 ) Sales taxes receivable (305 ) (3,114 ) Prepaids and other receivables 25(a) (3,086 ) (287 ) Biological assets 6(b),7(a) 6,216 5,710 Inventory 6(b),7(b) (11,517 ) (8,957 ) Accounts payable and other liabilities 25(b) 7,479 6,697 Holdbacks payable 25(b) 7,887 - Government remittances payable 25(b) 1,093 - Net changes in non-cash working capital $ 4,744 $ (984 ) |
Financial instruments (Tables)
Financial instruments (Tables) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Financial Instruments [Abstract] | |
Summary of Maturity Analysis of Trade Receivables | Provided below is the information about the credit risk exposure on the Company's accounts receivable using a provision matrix of expected credit loss rates against an analysis of the age of accounts receivable: Expected credit loss rates 2018 2017 Less than 30 days past billing date 0% to 3% $ 3,980 $ 1,020 31 to 60 days past billing date 0% to 5% 136 85 61 to 90 days past billing date 0% to 8% - 35 91 to 120 days past billing date 0% to 12% 19 - Over 120 days past billing date 0% to 18% 28 - $ 4,163 $ 1,140 |
Summary of of maturity analysis of trade and other payables | The following represents an analysis of the age of accounts payable: 2018 2017 Less than 30 days past billing date $ 1,201 $ 6,725 31 to 60 days past billing date 365 113 61 to 90 days past billing date 29 66 Over 90 days past billing date - 172 $ 1,595 $ 7,076 |
Summary of Foreign Currency Denominated Assets and Liabilities | The following table provides a summary of foreign currency (in thousands) denominated financial assets and liabilities: Currency 2018 2017 Advance to joint ventures AUD $ 1,029 $ - Cash ILS ₪ 840 ₪ - Sales taxes receivable ILS ₪ 2,066 ₪ - Accounts payable and other liabilities ILS ₪ 1,083 ₪ - Due to non-controlling interests ILS ₪ 5,878 ₪ - |
Basis of Presentation - Summari
Basis of Presentation - Summarized Consolidated Financial Statements (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Hortican Inc. ("Hortican") [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Canada |
Incorporation date | Jan. 17, 2013 |
Ownership interest | 100.00% |
Peace Naturals Project Inc. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Canada |
Incorporation date | Nov. 21, 2012 |
Ownership interest | 100.00% |
Original BC Ltd. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Canada |
Incorporation date | Mar. 15, 2013 |
Ownership interest | 100.00% |
Cronos Canada Holdings Inc. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Canada |
Incorporation date | Mar. 13, 2018 |
Ownership interest | 100.00% |
Cronos Israel GS Cultivations Ltd [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Israel |
Incorporation date | Feb. 4, 2018 |
Ownership interest | 70.00% |
Cronos Israel GS Manufacturing Ltd [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Israel |
Incorporation date | Sep. 4, 2018 |
Ownership interest | 90.00% |
Cronos Global Holdings Inc. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Canada |
Incorporation date | Apr. 25, 2017 |
Ownership interest | 100.00% |
Cronos Israel G.S. Store Ltd. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Israel |
Incorporation date | Jun. 28, 2018 |
Ownership interest | 90.00% |
Cronos Israel G.S. Pharmacies Ltd. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Israel |
Incorporation date | Feb. 15, 2018 |
Ownership interest | 90.00% |
Cronos Group Celtic Holdings Ltd. [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Ireland |
Incorporation date | Feb. 6, 2018 |
Ownership interest | 100.00% |
Cronos Malta Holdings Ltd [member] | |
Basis of Presentation [line items] | |
Jurisdiction of incorporation | Malta |
Incorporation date | Oct. 25, 2018 |
Ownership interest | 100.00% |
Basis of Presentation - Summary
Basis of Presentation - Summary of Company's Investments in Equity Accounted Investees (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Basis of Presentation [line items] | ||
Jurisdiction of incorporation | Israel | |
Whistler [member] | ||
Basis of Presentation [line items] | ||
Jurisdiction of incorporation | Canada | |
Proportion Of Ownership Interest In Associate | 19.00% | 20.30% |
Cronos Australia Limited [member] | ||
Basis of Presentation [line items] | ||
Jurisdiction of incorporation | Australia | |
Ownership interest | 50.00% | |
MedMen Canada [member] | ||
Basis of Presentation [line items] | ||
Jurisdiction of incorporation | Canada | |
Ownership interest | 50.00% | |
Cronos GrowCo [member] | ||
Basis of Presentation [line items] | ||
Jurisdiction of incorporation | Canada | |
Ownership interest | 50.00% | |
NatuEra S.à r.l [member] | ||
Basis of Presentation [line items] | ||
Jurisdiction of incorporation | Luxembourg | |
Ownership interest | 50.00% |
Significant Accounting Polici_4
Significant Accounting Policies - Additional Information (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Disclosure Of Changes In Accounting Estimates [Line Items] | |
Domestic non-consumer sales payment period | 60 days |
International sales fixed consideration payment period | 30 days |
International sales variable consideration payment period | 120 days |
Description of expected credit losses | Critical to the determination of ECLs is the definition of default and the definition of a significant increase in credit risk. The definition of default is used in measuring the amount of ECLs and in the determination of whether the loss allowance is based on a 12-month or lifetime ECLs. The Company considers the following as constituting an event of default: the borrower is past due more than 90 days on any material credit obligation, or the borrower is unlikely to pay its credit obligations to the Company in full. The Company monitors all financial assets that are subject to the impairment requirements to assess whether there has been a significant increase in credit risk since initial recognition. If there has been a significant increase in credit risk, the Company will measure the loss allowance based on lifetime rather than 12-month ECLs. In assessing whether the credit risk on a financial asset has increased significantly since initial recognition, the Company compares the risk of a default occurring on the financial asset at the reporting date based on the remaining maturity of the instrument with the risk of a default occurring that was anticipated for the remaining maturity at the current reporting date when the financial asset was first recognized. |
Expected Credit Loss [member] | |
Disclosure Of Changes In Accounting Estimates [Line Items] | |
Measuring loss allowance period | 12 months |
Bottom of Range [member] | |
Disclosure Of Changes In Accounting Estimates [Line Items] | |
Voting rights held in associate | 20.00% |
Bottom of Range [member] | Material Credit Obligation [member] | |
Disclosure Of Changes In Accounting Estimates [Line Items] | |
Borrower past due period | 90 days |
Top of Range [member] | |
Disclosure Of Changes In Accounting Estimates [Line Items] | |
Voting rights held in associate | 50.00% |
Significant Accounting Polici_5
Significant Accounting Policies - Summary of Amortization Method and Rate of Estimated Useful Life of Intangible Assets (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Software [member] | |
Disclosure Of Intangible Assets [Line Items] | |
Method | Double declining |
Rate | 50% |
Health Canada Licenses [member] | |
Disclosure Of Intangible Assets [Line Items] | |
Method | Straight-line |
Rate | Useful life of corresponding facilities |
Israeli Codes [member] | |
Disclosure Of Intangible Assets [Line Items] | |
Method | Straight-line |
Rate | Useful life of corresponding facilities |
Significant Accounting Polici_6
Significant Accounting Policies - Summary of Basis Depreciation of Property, Plant and Equipment (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Building structures [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 15 to 20 years |
Furniture and equipment [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 5 years |
Computer equipment [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 3 years |
Security equipment [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 5 years |
Production equipment [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 7 years |
Road [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 25 years |
Leasehold improvements [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | 5 to 10 years |
Equipment under finance lease [member] | |
Disclosure Of Property Plant And Equipment [Line Items] | |
Method | Straight-line |
Rate | Lesser of term of lease and useful life of equipment |
Adoption of New Accounting Pr_3
Adoption of New Accounting Pronouncements - Additional Information (Details) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | ||
Gain on other investments | $ 221,000 | $ 4,858,000 |
Changes in carrying amounts of financial instruments as a result of adoption of IFRS 9 | 0 | |
Impairment of financial assets | 0 | |
Equity investments designated at fair value through other comprehensive income [member] | ||
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | ||
Gain on other investments | 294,000 | |
Fair value of investments | $ 961,000 |
Adoption of New Accounting Pr_4
Adoption of New Accounting Pronouncements - Summary of Accounting Standard Impact on Financial Instruments (Details) | 12 Months Ended |
Dec. 31, 2018 | |
Cash [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Cash [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | FVTPL |
Accounts Receivable [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Accounts Receivable [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Other Receivables [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Other Receivables [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Loan Receivable [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Loan Receivable [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Advances to Joint Ventures [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Advances to Joint Ventures [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Other Investments [member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | FVTPL - ABcann share warrants FVOCI - Canopy, ABcann shares, Evergreen |
Other Investments [member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | FVTPL - ABcann share warrants Available-for-sale - Canopy, ABcann shares, Evergreen |
Accounts Payable And Other Liabilities [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Accounts Payable And Other Liabilities [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Holdbacks Payable [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Holdbacks Payable [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Construction Loan Payable [Member] | IFRS 9 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
Construction Loan Payable [Member] | IAS 39 [Member] | |
Disclosure Of Initial Application Of Standards Or Interpretations [Line Items] | |
Classification by categories of financial instruments | Amortized cost |
New And Revised Standards And_2
New And Revised Standards And Interpretations Issued But Not Yet Effective - Additional Information (Details) - CAD ($) $ in Thousands | 12 Months Ended | |||
Dec. 31, 2019 | Dec. 31, 2018 | Dec. 31, 2017 | Jan. 01, 2019 | |
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | ||||
Non-cancellable operating lease commitments | $ 5,950 | |||
Accumulated deficit | (22,715) | $ (3,724) | ||
Net income (loss) | $ (19,205) | $ 2,491 | ||
At cost or in accordance with IFRS 16 within fair value model [member] | ||||
Description Of Expected Impact Of Initial Application Of New Standards Or Interpretations [Line Items] | ||||
Right-of-use assets | $ 1,722 | |||
Current lease liabilities | 303 | |||
Non-current lease liabilities | 1,642 | |||
Accumulated deficit | $ 223 | |||
Net income (loss) | $ 98 |
Accounting Changes - Consolidat
Accounting Changes - Consolidated Statement of Operations and Comprehensive Income (Loss) (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Cost of sales | ||
Cost of sales before fair value adjustments | $ 7,654 | $ 2,040 |
Fair value adjustments | ||
Unrealized change in fair value of biological assets | (11,568) | (7,637) |
Realized fair value adjustments on inventory sold in the year | 8,349 | 2,449 |
Total fair value adjustments | (3,219) | (5,188) |
Gross profit | 11,268 | 7,230 |
Original Accounting Policy [member] | ||
Cost of sales | ||
Cost of sales before fair value adjustments | 2,942 | 609 |
Production costs | 7,145 | 3,983 |
Total cost of sales | 10,087 | 4,592 |
Gross profit (loss) before fair value adjustments | 5,616 | (510) |
Fair value adjustments | ||
Unrealized change in fair value of biological assets | (18,713) | (11,620) |
Realized fair value adjustments on inventory sold in the year | 13,061 | 3,880 |
Total fair value adjustments | (5,652) | (7,740) |
Gross profit | 11,268 | 7,230 |
New Accounting Policy [member] | ||
Cost of sales | ||
Cost of sales before fair value adjustments | 7,654 | 2,040 |
Total cost of sales | 7,654 | 2,040 |
Gross profit (loss) before fair value adjustments | 8,049 | 2,042 |
Fair value adjustments | ||
Unrealized change in fair value of biological assets | (11,568) | (7,637) |
Realized fair value adjustments on inventory sold in the year | 8,349 | 2,449 |
Total fair value adjustments | (3,219) | (5,188) |
Gross profit | $ 11,268 | $ 7,230 |
Accounting Changes - Consolid_2
Accounting Changes - Consolidated Statement of Cash Flows (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Items not affecting cash: | ||
Unrealized change in fair value of biological assets | $ (11,568) | $ (7,637) |
Realized fair value adjustments on inventory sold in the year | 8,349 | 2,449 |
Net changes in non-cash working capital: | ||
Biological assets | 6,216 | 5,710 |
Inventory | (11,517) | (8,957) |
Original Accounting Policy [member] | ||
Items not affecting cash: | ||
Unrealized change in fair value of biological assets | (18,713) | (11,620) |
Realized fair value adjustments on inventory sold in the year | 13,061 | 3,880 |
Net changes in non-cash working capital: | ||
Biological assets | 13,361 | 9,693 |
Inventory | (16,229) | (10,388) |
Net effect on cash flows used in operating activities | (8,520) | (8,435) |
New Accounting Policy [member] | ||
Items not affecting cash: | ||
Unrealized change in fair value of biological assets | (11,568) | (7,637) |
Realized fair value adjustments on inventory sold in the year | 8,349 | 2,449 |
Net changes in non-cash working capital: | ||
Biological assets | 6,216 | 5,710 |
Inventory | (11,517) | (8,957) |
Net effect on cash flows used in operating activities | $ (8,520) | $ (8,435) |
Biological Assets and Invento_3
Biological Assets and Inventory - Schedule of Changes in Carrying Amounts of Biological Assets (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Reconciliation Of Changes In Biological Assets [Abstract] | ||
Biological assets - beginning of year | $ 3,722 | $ 1,795 |
Capitalization of production costs | 7,145 | 3,983 |
Unrealized change in fair value of biological assets | 11,568 | 7,637 |
Transferred to inventory upon harvest | (13,361) | (9,693) |
Biological assets - end of year | $ 9,074 | $ 3,722 |
Biological Assets and Invento_4
Biological Assets and Inventory - Additional Information (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018CAD ($)kgPlantwk | Dec. 31, 2017CAD ($)kgPlantwk | |
Disclosure Of Detailed Information About Bio Assets And Inventory [Line Items] | ||
Expected cannabis yield | kg | 6,303 | 1,695 |
Number of plants classified as biological assets | Plant | 46,004 | 7,353 |
Average number of weeks | wk | 6 | 7 |
Percentage of completion | 37.00% | 46.00% |
Percentage Ascribed | 37.00% | 46.00% |
Dry cannabis [member] | ||
Disclosure Of Detailed Information About Bio Assets And Inventory [Line Items] | ||
Retention samples | kg | 29 | 4 |
Retention samples | $ | $ 0 | $ 0 |
Cannabis oils [member] | ||
Disclosure Of Detailed Information About Bio Assets And Inventory [Line Items] | ||
Retention samples | kg | 4 | 1 |
Retention samples | $ | $ 0 | $ 0 |
Biological Assets and Invento_5
Biological Assets and Inventory - Schedule of Biological Inventory (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018CAD ($)kg | Dec. 31, 2017CAD ($)kg | |
Disclosure of detailed information about lnventories [line items] | ||
Inventory | $ 11,584 | $ 8,416 |
Raw materials | 171 | 183 |
Supplies and consumables | 802 | 126 |
Dry cannabis [member] | ||
Disclosure of detailed information about lnventories [line items] | ||
Finished goods | 972 | 6,145 |
Work-in-process | 7,733 | 1,630 |
Inventory | $ 8,705 | $ 7,775 |
Finished goods | kg | 187 | 815 |
Work in process | kg | 1,789 | 243 |
Cannabis oils [member] | ||
Disclosure of detailed information about lnventories [line items] | ||
Finished goods | $ 656 | $ 332 |
Work-in-process | 1,250 | |
Inventory | $ 1,906 | $ 332 |
Finished goods | kg | 115 | 18 |
Work in process | kg | 220 |
Biological Assets and Invento_6
Biological Assets and Inventory - Schedule of Biological Inventory (Parenthetical) (Detail) - kg | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Detailed Information About Inventories [Abstract] | ||
Cannabis seeds | kg | 0.267 | 0.288 |
Biological Assets And Invento_7
Biological Assets And Inventory - Schedule of Direct and Indirect Costs Related to Biological Assets and Inventory (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Consumables (insect control, fertilizers, soil) [member] | |
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | |
Allocation basis | 100% allocated to production costs; incurred to support plant growth |
Labour costs (including salaries and benefits) [member] | |
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | |
Allocation basis | Allocated based on job descriptions of various personnel; 30% allocated to processing costs; 40% allocated to production costs; 30% allocated to operating expenses (2017 - 20%; 70%; and 10%; respectively) |
Supplies and small tools [member] | |
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | |
Allocation basis | 80% allocated to production costs; 20% allocated to processing costs |
Utilities [member] | |
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | |
Allocation basis | Allocated based on estimates of usage, 10% allocated to processing costs; 90% allocated to production costs |
Property taxes, amortization, security [member] | |
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | |
Allocation basis | Allocated based on estimates of square footage, 20% allocated to processing costs; 50% allocated to production costs; 30% allocated to operating expenses |
Packaging costs [member] | |
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | |
Allocation basis | 100% allocated to processing costs |
Biological Assets And Invento_8
Biological Assets And Inventory - Schedule of Direct and Indirect Costs Related to Biological Assets and Inventory (Parenthetical) (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Consumables (insect control, fertilizers, soil) [member] | ||
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | ||
Percentage allocated to production costs | 100.00% | |
Labour costs (including salaries and benefits) [member] | ||
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | ||
Percentage allocated to production costs | 40.00% | 70.00% |
Percentage allocated to processing costs | 30.00% | 20.00% |
Percentage allocated to operating expenses | 30.00% | 10.00% |
Supplies and small tools [member] | ||
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | ||
Percentage allocated to production costs | 80.00% | |
Percentage allocated to processing costs | 20.00% | |
Utilities [member] | ||
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | ||
Percentage allocated to production costs | 90.00% | |
Percentage allocated to processing costs | 10.00% | |
Property taxes, amortization, security [member] | ||
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | ||
Percentage allocated to production costs | 50.00% | |
Percentage allocated to processing costs | 20.00% | |
Percentage allocated to operating expenses | 30.00% | |
Packaging costs [member] | ||
Disclosure Of Direct And Indirect Costs Related To Biological Assets And Inventory [line Items] | ||
Percentage allocated to processing costs | 100.00% |
Biological Assets And Invento_9
Biological Assets And Inventory - Schedule of Estimates of Significant Inputs Related to Biological Assets and Inventory (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
Net Selling price per gram [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Estimated net selling price per gram of dry cannabis based on historical sales and anticipated prices, after adjustment for excise taxes |
Harvest yield per plant [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Expected grams of dry cannabis to be harvested from a cannabis plant, based on the weighted average historical yields by plant strain |
Stage of growth [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Weighted average plant age (in weeks) out of the 16 week growing cycle as of the period end date |
Processing costs per gram [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Estimated post-harvest costs per gram to bring a gram of harvested cannabis to its saleable condition, including drying, curing, testing and packaging, and overhead allocation; estimated based on post-harvest costs incurred during the period divided by number of grams processed during the period |
Selling costs per gram [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Estimated shipping, order fulfillment, and labelling costs per gram; calculated as selling costs incurred during the period divided by number of grams sold during the period |
Equivalency factor [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Estimated grams of dry cannabis required to produce one milliliter of cannabis oil; estimated based on historical results |
Mass multipliers [member] | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | |
Significant input | Estimated multiples of crude extract and isolate mass in diluted cannabis oil products |
Biological Assets And Invent_10
Biological Assets And Inventory - Schedule of Estimates of Significant Inputs Related to Biological Assets and Inventory (Parenthetical) (Detail) - wk | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Average number of weeks | 6 | 7 |
Stage of growth [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Average number of weeks | 16 |
Biological Assets and Invent_11
Biological Assets and Inventory - Sensitivity Analysis of Impact on Fair Value of Biological Assets (Detail) - Sensitivity Analysis [Member] | 12 Months Ended | |
Dec. 31, 2018wk$ / ggg / mlMass | Dec. 31, 2017wk$ / ggg / ml | |
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Net selling price per gram | 5.58 | 8.50 |
Harvest yield per plant | g | 137 | 182 |
Stage of growth | wk | 6 | 7 |
Processing costs per gram | 1.98 | 0.82 |
Selling costs per gram | 0.43 | 0.97 |
Equivalency factor | g / ml | 0.3 | 0.3 |
Bottom of Range [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Mass multipliers | Mass | 30 | |
Top of Range [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Mass multipliers | Mass | 50 |
Biological Assets and Invent_12
Biological Assets and Inventory - Schedule of Sensitivity Analysis for Impacts on Value of Assets (Detail) - Sensitivity Analysis [Member] - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Net Selling price per gram [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | $ (673) | $ (227) |
Increase (decrease) of Input, Inventory | (640) | (443) |
Harvest yield per plant [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | (446) | (181) |
Stage of growth [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | (446) | (181) |
Processing costs per gram [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | 175 | 22 |
Increase (decrease) of Input, Inventory | 65 | 9 |
Selling costs per gram [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | 52 | 227 |
Increase (decrease) of Input, Inventory | 50 | 443 |
Equivalency factor [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | (45) | (1) |
Increase (decrease) of Input, Inventory | 104 | $ (17) |
Mass multipliers [member] | ||
Disclosure Of Significant Unobservable Inputs Used In Fair Value Measurement Of Assets [Line Items] | ||
Increase (decrease) of Input, Biological assets | (5) | |
Increase (decrease) of Input, Inventory | $ (24) |
Loan Receivable - Summary of In
Loan Receivable - Summary of Information for Loan Receivable (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of loan receivable [line items] | ||
Add: Accrued interest | $ 49 | $ 49 |
Loan receivable | 314 | 314 |
Evergreen Medicinal Supply Inc. [member] | ||
Disclosure of loan receivable [line items] | ||
Loan receivable excluding accrued interest | $ 265 | $ 265 |
Loan Receivable - Summary of _2
Loan Receivable - Summary of Information for Loan Receivable (Parenthetical) (Detail) | Dec. 31, 2018 | Dec. 31, 2017 |
Evergreen Medicinal Supply Inc. [member] | ||
Disclosure of loan receivable [line items] | ||
Interest rate | 8.00% | 8.00% |
Advances to Joint Ventures - Su
Advances to Joint Ventures - Summary of Advances to Joint Ventures (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Advances to joint ventures | $ 6,941 | $ 0 |
Cronos Australia [member] | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Advances to joint ventures | 990 | 0 |
Cronos GrowCo [member] | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Advances to joint ventures | 4,080 | 0 |
MedMen Canada [member] | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Advances to joint ventures | $ 1,871 | $ 0 |
Advances to Joint Ventures - _2
Advances to Joint Ventures - Summary of Advances to Joint Ventures - (Parenthetical) (Details) - Cronos Australia [member] $ in Thousands, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018CAD ($) | Dec. 31, 2018AUD ($) | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Advance to joint ventures governed by unsecured loan | $ 940 | $ 1,000 |
Interest rate | 12.00% | 12.00% |
Loan due date | Dec. 1, 2020 | |
Borrowings additional interest rate | 2.00% |
Investments in Equity Account_3
Investments in Equity Accounted Investees - Summary of Reconciliation of Carrying Amount of Investments in Associates and Joint Ventures (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Beginning balance | $ 3,807 | $ 2,566 |
Capital contributions | 621 | 1,076 |
Share of net income (loss) | (936) | 165 |
Ending balance | 3,492 | 3,807 |
Whistler [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Beginning balance | 3,807 | 2,566 |
Capital contributions | 1,076 | |
Share of net income (loss) | 231 | 165 |
Ending balance | 4,038 | $ 3,807 |
MedMen Canada [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Capital contributions | 101 | |
Share of net income (loss) | (276) | |
Ending balance | (175) | |
Cronos GrowCo [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Capital contributions | 100 | |
Share of net income (loss) | (129) | |
Ending balance | (29) | |
Cronos Australia [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Capital contributions | 420 | |
Share of net income (loss) | (762) | |
Ending balance | $ (342) |
Investments in Equity Account_4
Investments in Equity Accounted Investees - Summary of Reconciliation of Carrying Amount of Investments in Associates and Joint Ventures (Parenthetical) (Detail) - CAD ($) $ in Thousands | Sep. 27, 2018 | Dec. 31, 2018 |
MedMen Canada [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Ownership percentage | 50.00% | |
Cronos Australia [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Percentage of ownership interest | 100.00% | |
Percentage of capital expenditure funding to be provided | 50.00% | |
Percentage of operating expense funding to be provided | 50.00% | |
Capital and operating expense funding to be provided | $ 10,000 | |
Cronos Australia [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Percentage of ownership interest | 100.00% | |
Whistler [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Percentage of voting control | 20.00% | |
Top of Range [member] | Whistler [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
Ownership percentage | 20.00% | |
Minimum [member] | MedMen Canada [member] | ||
Disclosure Of Significant Investments In Equity Accounted Investees [Line Items] | ||
License term | 20 years |
Investments in Equity Account_5
Investments in Equity Accounted Investees - Summary of Financial Information for Significant Associates and Joint Ventures (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | $ 65,064 | $ 26,704 |
Current liabilities | 45,493 | 7,878 |
Revenue | 15,703 | 4,082 |
Net income (loss) | (19,205) | 2,491 |
Whistler [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 6,307 | 4,163 |
Non-current assets | 26,743 | 13,645 |
Current liabilities | 1,191 | 3,676 |
Non-current liabilities | 6,841 | |
Revenue | 6,923 | 3,813 |
Net income (loss) | 1,213 | 814 |
MedMen Canada [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 1,521 | |
Non-current liabilities | 1,871 | |
Net income (loss) | (552) | |
Cronos GrowCo [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 603 | |
Non-current assets | 9,762 | |
Current liabilities | 2,200 | |
Non-current liabilities | 8,233 | |
Net income (loss) | (269) | |
Cronos Australia [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 1,280 | |
Non-current assets | 491 | |
Current liabilities | 1,718 | |
Non-current liabilities | 1,058 | |
Net income (loss) | (1,524) | |
Associates and Joint Ventures [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 9,711 | 4,163 |
Non-current assets | 36,996 | 13,645 |
Current liabilities | 5,109 | 3,676 |
Non-current liabilities | 18,003 | |
Revenue | 6,923 | 3,813 |
Net income (loss) | $ (1,132) | $ 814 |
Investments in Equity Account_6
Investments in Equity Accounted Investees - Summary of Aggregate Financial Information for Associates and Joint Ventures (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | $ 65,064 | $ 26,704 |
Current liabilities | 45,493 | 7,878 |
Revenue | 15,703 | 4,082 |
Net income (loss) | (19,205) | 2,491 |
Whistler [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 6,307 | 4,163 |
Non-current assets | 26,743 | 13,645 |
Current liabilities | 1,191 | 3,676 |
Non-current liabilities | 6,841 | |
Revenue | 6,923 | 3,813 |
Net income (loss) | 1,213 | 814 |
MedMen Canada [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 1,521 | |
Non-current liabilities | 1,871 | |
Net income (loss) | (552) | |
Cronos GrowCo [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 603 | |
Non-current assets | 9,762 | |
Current liabilities | 2,200 | |
Non-current liabilities | 8,233 | |
Net income (loss) | (269) | |
Cronos Australia [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 1,280 | |
Non-current assets | 491 | |
Current liabilities | 1,718 | |
Non-current liabilities | 1,058 | |
Net income (loss) | (1,524) | |
Associates and Joint Ventures [member] | ||
Disclosure of Summary of Aggregate Financial Information for Significant Associates and Joint Ventures [line items] | ||
Current assets | 9,711 | 4,163 |
Non-current assets | 36,996 | 13,645 |
Current liabilities | 5,109 | 3,676 |
Non-current liabilities | 18,003 | |
Revenue | 6,923 | 3,813 |
Net income (loss) | $ (1,132) | $ 814 |
Other Investments - Summary of
Other Investments - Summary of Fair Value of Other Investments (Detail) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Fair value through other comprehensive income investments | ||
Fair value through other comprehensive income investments | $ 705 | $ 1,177 |
Fair value through other comprehensive income investments and fair value through profit or loss investment | ||
Fair value of investments designated as fair value through other comprehensive income and fair value through profit and loss | 705 | 1,347 |
Canopy Growth Corporation [member] | ||
Fair value through other comprehensive income investments | ||
Fair value through other comprehensive income investments | 405 | 877 |
Evergreen Medicinal Supply Inc. [member] | ||
Fair value through other comprehensive income investments | ||
Fair value through other comprehensive income investments | $ 300 | 300 |
AbCann Global Corp. [member] | ||
Fair value through profit or loss investment | ||
Fair value through profit or loss investment | $ 170 |
Other Investments - Summary o_2
Other Investments - Summary of Gains Recognized Upon Increase in Fair Value on Other Investments (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Gains Recognized Upon The Increase In Fair Value On Other Investments [Line Items] | ||
Gain recognized in net income (loss) | $ 221 | $ 4,858 |
Gain (loss) recognized in other comprehensive income (loss) before taxes | (9) | 608 |
Canopy Growth Corporation [member] | ||
Gains Recognized Upon The Increase In Fair Value On Other Investments [Line Items] | ||
Gain recognized in net income (loss) | 36 | |
Gain (loss) recognized in other comprehensive income (loss) before taxes | 215 | 608 |
AbCann Global Corp. [member] | ||
Gains Recognized Upon The Increase In Fair Value On Other Investments [Line Items] | ||
Gain recognized in net income (loss) | 4,160 | |
Gain (loss) recognized in other comprehensive income (loss) before taxes | (224) | |
AbCann Global Corp. [member] | Warrant [member] | ||
Gains Recognized Upon The Increase In Fair Value On Other Investments [Line Items] | ||
Gain recognized in net income (loss) | $ 221 | 5 |
The Hydropothecary Corporation [member] | ||
Gains Recognized Upon The Increase In Fair Value On Other Investments [Line Items] | ||
Gain recognized in net income (loss) | $ 657 |
Other Investments - Summary o_3
Other Investments - Summary of Gains Recognized Upon Increase in Fair Value on Other Investments (Parenthetical) (Detail) | Mar. 16, 2017CAD ($) | Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares |
Other Investments [line items] | |||
Proceeds from sale of shares | $ 967,000 | $ 10,879,000 | |
Cash payment for shares purchased | 1,016,000 | ||
Share price | $ 9.37 | $ 3.66 | |
Canopy Growth Corporation [member] | |||
Other Investments [line items] | |||
Shares sold | shares | 18,436 | 7,374 | |
Proceeds from sale of shares | $ 687,000 | $ 88,000 | |
Evergreen Medicinal Supply Inc. [member] | |||
Other Investments [line items] | |||
Cash payment for shares purchased | $ 100,000 | ||
Option exercised for the acquisition of equity | $ 500,000 | ||
Option exercised to acquire additional equity percentage | 5.00% | ||
Total additional investment subscribed but not received | $ 600,000 | ||
AbCann Global Corp. [member] | |||
Other Investments [line items] | |||
Shares sold | shares | 182,927 | ||
Proceeds from sale of shares | $ 280,000 | ||
Warrant exercised | shares | 182,927 | 3,658,537 | |
Cash paid to exercise warrants | $ 113,000 | $ 2,268,000 | |
Assumptions used to calculate fair value of warrants,risk free rate | 1.66% | ||
Assumptions used to calculate fair value of warrants,volatility | 65.00% | ||
Share price | $ 1.53 | ||
Assumptions used to calculate fair value of warrants,expected life | 9 months 3 days | ||
Assumptions used to calculate fair value of warrants,dividend yield | 0.00% | ||
Panda Capital Inc [member] | |||
Other Investments [line items] | |||
Shares sold | shares | 8,770,001 | ||
Proceeds from sale of shares | $ 9,859,000 | ||
Cash payment for shares purchased | $ 1,016,000 | ||
The Hydropothecary Corporation [member] | |||
Other Investments [line items] | |||
Shares sold | shares | 550,002 | ||
Proceeds from sale of shares | $ 932,000 | ||
Stockholders' equity, stock split, conversion ratio | 6 |
Property, Plant and Equipment -
Property, Plant and Equipment - Summary of Property Plant and Equipment (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | $ 56,172 | $ 14,122 |
Additions | 43,046 | |
Ending Balance | 171,891 | 56,172 |
Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 57,696 | 14,650 |
Additions | 117,522 | 43,046 |
Ending Balance | 175,218 | 57,696 |
Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 1,524 | 528 |
Additions | 1,803 | 996 |
Ending Balance | 3,327 | 1,524 |
Land [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 1,558 | 1,558 |
Additions | 1,649 | |
Ending Balance | 3,207 | 1,558 |
Building structures [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 11,518 | 2,761 |
Additions | 5,417 | 2,723 |
Transfers | 4,717 | 6,034 |
Ending Balance | 21,652 | 11,518 |
Building structures [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 433 | 120 |
Additions | 751 | 313 |
Ending Balance | 1,184 | 433 |
Furniture and equipment [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 134 | 63 |
Additions | 542 | 71 |
Ending Balance | 676 | 134 |
Furniture and equipment [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 43 | 18 |
Additions | 78 | 25 |
Ending Balance | 121 | 43 |
Computer equipment [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 148 | 88 |
Additions | 316 | 60 |
Ending Balance | 464 | 148 |
Computer equipment [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 75 | 36 |
Additions | 94 | 39 |
Ending Balance | 169 | 75 |
Security equipment [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 886 | 474 |
Additions | 99 | 412 |
Ending Balance | 985 | 886 |
Security equipment [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 196 | 60 |
Additions | 188 | 136 |
Ending Balance | 384 | 196 |
Production equipment [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 2,481 | 2,106 |
Additions | 2,342 | 375 |
Ending Balance | 4,823 | 2,481 |
Production equipment [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 431 | 103 |
Additions | 465 | 328 |
Ending Balance | 896 | 431 |
Road [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 137 | 137 |
Ending Balance | 137 | 137 |
Road [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 10 | 5 |
Additions | 7 | 5 |
Ending Balance | 17 | 10 |
Leasehold improvements [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 1,497 | 1,429 |
Additions | 87 | 68 |
Ending Balance | 1,584 | 1,497 |
Leasehold improvements [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 336 | 186 |
Additions | 174 | 150 |
Ending Balance | 510 | 336 |
Equipment under finance lease [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | ||
Ending Balance | 171 | |
Equipment under finance lease [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Additions | 217 | |
Ending Balance | 217 | |
Equipment under finance lease [member] | Accumulated depreciation [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Additions | 46 | |
Ending Balance | 46 | |
Construction in progress [member] | Cost [member] | ||
Disclosure Of Property Plant And Equipment [Line Items] | ||
Beginning Balance | 39,337 | 6,034 |
Additions | 106,853 | 39,337 |
Transfers | (4,717) | (6,034) |
Ending Balance | $ 141,473 | $ 39,337 |
Property, Plant and Equipment_2
Property, Plant and Equipment - Summary of Property Plant and Equipment (Parenthetical) (Detail) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure Of Property Plant And Equipment [Line Items] | |||
Non-cash additions from capitalization | $ 762 | $ 345 | |
Land clearing cost and construction cost | 2,092 | ||
Accrued interest capitalized to construction in progress | 44 | ||
Depreciation expense is recorded as part of inventory expensed to cost of sales, production costs, and general and administration | 484 | 455 | |
Property, plant and equipment | 171,891 | 56,172 | $ 14,122 |
Biological Asset [member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Depreciation expense is recorded as part of inventory expensed to cost of sales, production costs, and general and administration | 770 | ||
inventory [member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Depreciation expense is recorded as part of inventory expensed to cost of sales, production costs, and general and administration | 770 | ||
Equipment under finance lease [member] | |||
Disclosure Of Property Plant And Equipment [Line Items] | |||
Property, plant and equipment | $ 171 |
Intangible Assets and Goodwil_2
Intangible Assets and Goodwill - Other Intangible Assets (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | $ 11,207 | $ 11,207 |
Intangible assets, ending balance | 11,234 | 11,207 |
Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | 11,207 | 11,207 |
Additions | 734 | 0 |
Intangible assets, ending balance | 11,941 | 11,207 |
Accumulated Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, ending balance | 707 | |
Additions | 707 | |
Software [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | 0 | 0 |
Additions | 360 | 0 |
Intangible assets, ending balance | 360 | 0 |
Software [member] | Accumulated Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, ending balance | 73 | |
Additions | 73 | |
Cronos G.S. Cultivation Ltd [Member] | Israeli Code [Member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | 0 | 0 |
Additions | 156 | 0 |
Intangible assets, ending balance | 156 | 0 |
Cronos G.S. Manufacturing Ltd [Member] | Israeli Code [Member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | 0 | 0 |
Additions | 218 | 0 |
Intangible assets, ending balance | 218 | 0 |
OGBC [member] | Health Canada Licenses [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | 1,611 | 1,611 |
Additions | 0 | 0 |
Intangible assets, ending balance | 1,611 | 1,611 |
OGBC [member] | Health Canada Licenses [member] | Accumulated Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, ending balance | 101 | |
Additions | 101 | |
Health Canada Licenses - Peace Naturals [member] | Health Canada Licenses [member] | Cost [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, beginning balance | 9,596 | 9,596 |
Additions | 0 | 0 |
Intangible assets, ending balance | 9,596 | $ 9,596 |
Health Canada Licenses - Peace Naturals [member] | Health Canada Licenses [member] | Accumulated Amortization [member] | ||
Disclosure of detailed information about intangible assets [line items] | ||
Intangible assets, ending balance | 533 | |
Additions | $ 533 |
Intangible Assets and Goodwil_3
Intangible Assets and Goodwill - Goodwill (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | $ 1,792 | $ 1,792 |
Additions | 0 | 0 |
Goodwill ending balance | 1,792 | 1,792 |
OGBC [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | 392 | 392 |
Additions | 0 | 0 |
Goodwill ending balance | 392 | 392 |
Peace Naturals [member] | ||
Disclosure of reconciliation of changes in goodwill [line items] | ||
Goodwill beginning balance | 1,400 | 1,400 |
Additions | 0 | 0 |
Goodwill ending balance | $ 1,400 | $ 1,400 |
Intangible Assets and Goodwil_4
Intangible Assets and Goodwill - Additional Information (Detail) - CAD ($) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure of information for cash generating unit | ||
Impairment of goodwill | $ 0 | $ 0 |
Impairment of indefinite life intangible assets | $ 0 | |
Intangible assets with indefinite useful life | $ 0 | |
Cash flow projection period | five-year |
Intangible Assets and Goodwil_5
Intangible Assets and Goodwill - Summary of Key Assumptions Used in Estimation of Receivable Amounts of CGU (Detail) | 12 Months Ended |
Dec. 31, 2018 | |
OGBC [member] | |
Disclosure of information for cash-generating units [line items] | |
Weighted average cost of capital (after-tax) | 12.00% |
The average growth rate is the annualized average of the expected year-over-year growth rate (in EBITDA) over five years | 0.00% |
Peace Naturals [member] | |
Disclosure of information for cash-generating units [line items] | |
Weighted average cost of capital (after-tax) | 12.00% |
The average growth rate is the annualized average of the expected year-over-year growth rate (in EBITDA) over five years | 14.00% |
Subsidiaries with Non-control_3
Subsidiaries with Non-controlling Interests - Additional Information (Details) ₪ in Thousands, $ in Thousands, $ in Thousands | 12 Months Ended | ||||||
Dec. 31, 2018ILS (₪) | Dec. 31, 2018USD ($) | Dec. 31, 2018CAD ($)JointVenture | Dec. 31, 2018ILS (₪)JointVenture | Dec. 31, 2018USD ($)JointVenture | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||||||
Number of joint ventures | JointVenture | 4 | 4 | 4 | ||||
Country of incorporation of joint venture | Israel | Israel | |||||
Name of joint venturer | Kibbutz Gan Shmuel | Kibbutz Gan Shmuel | |||||
Cash | $ 32,634 | $ 9,208 | $ 3,464 | ||||
Non-controlling interests | $ 136 | $ 0 | |||||
Kibbutz Gan Shmuel | |||||||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |||||||
Payment for interest in joint venture | ₪ 6,400 | $ 2,313 | |||||
Cash | ₪ 486 | $ 176 |
Subsidiaries with Non-control_4
Subsidiaries with Non-controlling Interests - Financial Information of Significant Subsidiaries with Non-controlling Interests (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Current assets | $ 65,064 | $ 26,704 |
Current liabilities | 45,493 | 7,878 |
Retained earnings (accumulated deficit) | (22,715) | (3,724) |
Shareholders' equity | ||
Cronos Group | 211,504 | 86,368 |
Non-controlling interests | 136 | 0 |
Revenue | 15,703 | 4,082 |
Net income (loss) | (19,205) | 2,491 |
Net income (loss) attributable to: | ||
Cronos Group | (18,970) | 2,491 |
Non-controlling interests | (235) | |
Other comprehensive income (loss) | 50 | (704) |
Comprehensive income (loss) attributable to: | ||
Cronos Group | (18,920) | $ 1,787 |
Non-controlling interests | (235) | |
Subsidiaries [member] | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Current assets | 1,403 | |
Non-current assets | 11,050 | |
Current liabilities | 401 | |
Non-current liabilities | 10,601 | |
Retained earnings (accumulated deficit) | 1,451 | |
Shareholders' equity | ||
Cronos Group | 1,315 | |
Non-controlling interests | 136 | |
Net income (loss) | (1,238) | |
Net income (loss) attributable to: | ||
Cronos Group | (1,003) | |
Non-controlling interests | (235) | |
Other comprehensive income (loss) | 4 | |
Comprehensive income (loss) attributable to: | ||
Cronos Group | $ 4 | |
Subsidiaries [member] | Cronos Israel GS Cultivations Ltd [member] | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Percentage interest held by non-controlling interests | 30.00% | |
Current assets | $ 713 | |
Non-current assets | 4,345 | |
Current liabilities | 325 | |
Non-current liabilities | 4,775 | |
Retained earnings (accumulated deficit) | (42) | |
Shareholders' equity | ||
Cronos Group | (29) | |
Non-controlling interests | (13) | |
Net income (loss) | (556) | |
Net income (loss) attributable to: | ||
Cronos Group | (389) | |
Non-controlling interests | (167) | |
Other comprehensive income (loss) | (2) | |
Comprehensive income (loss) attributable to: | ||
Cronos Group | (1) | |
Non-controlling interests | $ (1) | |
Subsidiaries [member] | Cronos Israel GS Manufacturing Ltd [member] | ||
Disclosure Of Significant Investments In Subsidiaries [Line Items] | ||
Percentage interest held by non-controlling interests | 10.00% | |
Current assets | $ 690 | |
Non-current assets | 6,705 | |
Current liabilities | 76 | |
Non-current liabilities | 5,826 | |
Retained earnings (accumulated deficit) | 1,493 | |
Shareholders' equity | ||
Cronos Group | 1,344 | |
Non-controlling interests | 149 | |
Net income (loss) | (682) | |
Net income (loss) attributable to: | ||
Cronos Group | (614) | |
Non-controlling interests | (68) | |
Other comprehensive income (loss) | 6 | |
Comprehensive income (loss) attributable to: | ||
Cronos Group | 5 | |
Non-controlling interests | $ 1 |
Subsidiaries with Non-control_5
Subsidiaries with Non-controlling Interests - Financial Information of Material Subsidiaries with Non-controlling Interests - Parenthetical (Details) - Non Current Liabilities [member] - Unsecured [member] $ in Thousands | Dec. 31, 2018CAD ($) |
Disclosure Of Significant Investments In Subsidiaries [Line Items] | |
Advances from non controlling interests | $ 2,092 |
Accrued interest | $ 44 |
Borrowings interest rate | 5.00% |
Construction Loan Payable - Sum
Construction Loan Payable - Summary of Construction Loan Payable (Detail) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Construction Loan Payable [Abstract] | ||
Aggregate advances | $ 21,311 | $ 6,304 |
Less: transaction costs (net of amortization) | (481) | (1,122) |
Add: accrued interest | 121 | 185 |
Construction loan payable, total | $ 20,951 | $ 5,367 |
Construction Loan Payable - Add
Construction Loan Payable - Additional Information (Detail) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Aug. 23, 2017 | |
Disclosure Of Construction Loan Payable [Line Items] | |||
Term of loan | The term of the loan was two years, with the borrower's option to extend for another twelve months. | ||
Construction loans [member] | Land [member] | |||
Disclosure Of Construction Loan Payable [Line Items] | |||
Book value of property pledged as guarantee | $ 2,191 | $ 1,558 | |
Peace Naturals [member] | Romspen Investment Corporation [member] | Construction loans [member] | |||
Disclosure Of Construction Loan Payable [Line Items] | |||
Maximum amount of funds that could be drawn by the entity | $ 40,000 | ||
Borrowings interest rate | 12.00% | ||
Peace Naturals [member] | Romspen Investment Corporation [member] | Construction loans [member] | Top of Range [member] | |||
Disclosure Of Construction Loan Payable [Line Items] | |||
Maximum amount of funds that could be drawn by the entity | $ 35,000 | ||
Appraisal value of property | $ 8,000 |
Share Capital - Additional Info
Share Capital - Additional Information (Detail) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Classes Of Share Capital [Line Items] | ||
Par value | $ 0 | |
Deal offerings [member] | Issued capital [member] | ||
Disclosure Of Classes Of Share Capital [Line Items] | ||
Number of shares issued | 15,677,143 | 13,181,190 |
Proceeds from issue of ordinary shares | $ 146,032 | $ 34,584 |
Private placements [member] | Issued capital [member] | ||
Disclosure Of Classes Of Share Capital [Line Items] | ||
Number of shares issued | 6,671,111 | |
Proceeds from issue of ordinary shares | $ 15,010 |
Share-based Payments - Summary
Share-based Payments - Summary of Changes in Warrants (Detail) - CAD ($) $ / shares in Units, $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | ||
Weighted average exercise price, beginning balance | $ 0.24 | $ 0.24 |
Weighted average exercise price, exercise of warrants | 0.14 | 0.23 |
Weighted average exercise price, expiry of warrants | 0.08 | 0.70 |
Weighted average exercise price, ending balance | $ 0.26 | $ 0.24 |
Number of warrants, beginning balance | 38,654,654 | 45,885,172 |
Number of warrants, exercise | (13,114,336) | (7,211,308) |
Number of warrants, expiry | (82,695) | (19,210) |
Number of warrants, ending balance | 25,457,623 | 38,654,654 |
Amount of warrants, beginning balance | $ 3,364 | $ 3,983 |
Amount of warrants, Exercise | (1,816) | (619) |
Amount of warrants, ending balance | $ 1,548 | $ 3,364 |
Share-based Payments - Summar_2
Share-based Payments - Summary of Outstanding Warrants (Detail) - $ / shares | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of warrants | 25,457,623 | 38,654,654 | 45,885,172 |
Weighted average exercise price | $ 0.26 | $ 0.24 | $ 0.24 |
Warrants Grant Date October Eight Two Thousand Fifteen To October Twenty Eight Two Thousand Fifteen [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expiry date | October 8, 2020 - October 28, 2020 | ||
Number of warrants | 4,586,785 | ||
Weighted average exercise price | $ 0.31 | ||
Warrants Grant Date May Thirteen Two Thousand Sixteen To May Twenty Seven Two Thousand Sixteen [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Expiry date | May 13, 2021 - May 27, 2021 | ||
Number of warrants | 20,870,838 | ||
Weighted average exercise price | $ 0.25 |
Share-based Payments - Addition
Share-based Payments - Additional Information (Detail) | 12 Months Ended | ||
Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($) | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number Of Share Options Granted In Sharebased Payment Arrangement | shares | 1,910,000 | 6,402,000 | |
Weighted Average Share Price | $ 9.37 | $ 3.66 | |
Vesting description | These options shall expire at the earlier of 180 days of the death, disability or incapacity of the holder or specified expiry date, and can only be settled in common shares. | ||
Weighted average exercise price of options outstanding | $ 2.99 | 2.05 | $ 1.10 |
Weighted average exercise price of options exercisable | $ 2.28 | $ 1.71 | |
2015 Stock option plan | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number Of Share Options Granted In Sharebased Payment Arrangement | shares | 0 | ||
Death, disability and Incapacity of Holder [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Options expire period | 180 days |
Share-based payments - Summar_3
Share-based payments - Summary of Changes in Options (Detail) | 12 Months Ended | |
Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares | |
Disclosure Of Terms And Conditions Of Sharebased Payment Arrangement [Abstract] | ||
Weighted average exercise price, Beginning balance | $ 2.05 | $ 1.10 |
Weighted average exercise price, Issuance of options | 8.23 | 2.82 |
Weighted average exercise price, Exercise of options | 1.41 | 1.03 |
Weighted average exercise price, Cancellation of warrants | 2.43 | 1.15 |
Weighted average exercise price, Vesting of issued options | 2.28 | 1.71 |
Weighted average exercise price, Ending balance | $ 2.99 | $ 2.05 |
Number of options, Beginning balance | shares | 11,603,750 | 6,177,594 |
Number of options, Issuance of options | shares | 1,910,000 | 6,402,000 |
Number of options, Exercise of options | shares | (597,379) | (571,246) |
Number of options, cancellation of warrants options | shares | (13,376) | (404,598) |
Number of options, Vesting of issued options | shares | 5,648,656 | |
Number of options, Ending balance | shares | 12,902,995 | 11,603,750 |
Share options, Beginning balance | $ 2,289,000 | $ 735,000 |
Share options, Exercise of options | (286,000) | (308,000) |
Share options, Vesting of issued options | 4,238,000 | 1,862,000 |
Share options, Ending balance | $ 6,241,000 | $ 2,289,000 |
Share-based Payments - Summar_4
Share-based Payments - Summary of Outstanding and Exercisable Options (Detail) | 12 Months Ended | ||
Dec. 31, 2018CAD ($)sharesyr | Dec. 31, 2017CAD ($)shares | Dec. 31, 2016CAD ($)shares | |
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Number of options | shares | 12,902,995 | 11,603,750 | 6,177,594 |
Weighted average,Exercise price | $ | $ 2.99 | $ 2.05 | $ 1.10 |
Weighted average,Remaining contractual life (years) | yr | 3.35 | ||
Number of options, Vesting of issued options | shares | 5,648,656 | ||
Weighted average exercise price, Vesting of issued options | $ | $ 2.28 | $ 1.71 | |
Weighted average remaining contractual life (years), Exercisable | yr | 3.14 | ||
August 5, 2016 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | August 5, 2021 | ||
Number of options | shares | 1,058,334 | ||
Weighted average,Exercise price | $ | $ 0.50 | ||
Weighted average,Remaining contractual life (years) | yr | 2.60 | ||
October 6, 2016 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | October 6, 2021 | ||
Number of options | shares | 3,411,699 | ||
Weighted average,Exercise price | $ | $ 1.23 | ||
Weighted average,Remaining contractual life (years) | yr | 2.77 | ||
November 21, 2016 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | November 21, 2021 | ||
Number of options | shares | 182,000 | ||
Weighted average,Exercise price | $ | $ 1.84 | ||
Weighted average,Remaining contractual life (years) | yr | 2.89 | ||
April 12, 2017 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | April 12, 2022 | ||
Number of options | shares | 3,273,020 | ||
Weighted average,Exercise price | $ | $ 3.14 | ||
Weighted average,Remaining contractual life (years) | yr | 3.28 | ||
August 23, 2017 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | August 23, 2022 | ||
Number of options | shares | 2,872,941 | ||
Weighted average,Exercise price | $ | $ 2.42 | ||
Weighted average,Remaining contractual life (years) | yr | 3.65 | ||
November 9, 2017 [member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | November 9, 2022 | ||
Number of options | shares | 200,000 | ||
Weighted average,Exercise price | $ | $ 3.32 | ||
Weighted average,Remaining contractual life (years) | yr | 3.86 | ||
January 30, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | January 30, 2023 | ||
Number of options | shares | 275,001 | ||
Weighted average,Exercise price | $ | $ 8.40 | ||
Weighted average,Remaining contractual life (years) | yr | 4.08 | ||
January 31, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | January 31, 2023 | ||
Number of options | shares | 150,000 | ||
Weighted average,Exercise price | $ | $ 9 | ||
Weighted average,Remaining contractual life (years) | yr | 4.09 | ||
May 18, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | May 18, 2023 | ||
Number of options | shares | 1,195,000 | ||
Weighted average,Exercise price | $ | $ 7.57 | ||
Weighted average,Remaining contractual life (years) | yr | 4.38 | ||
June 28, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 60 months | ||
Expiry date | June 28, 2023 | ||
Number of options | shares | 180,000 | ||
Weighted average,Exercise price | $ | $ 8.22 | ||
Weighted average,Remaining contractual life (years) | yr | 4.49 | ||
September 13, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | September 13, 2025 | ||
Number of options | shares | 25,000 | ||
Weighted average,Exercise price | $ | $ 14.70 | ||
Weighted average,Remaining contractual life (years) | yr | 6.71 | ||
October 12, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 48 months | ||
Expiry date | October 12, 2025 | ||
Number of options | shares | 30,000 | ||
Weighted average,Exercise price | $ | $ 11.80 | ||
Weighted average,Remaining contractual life (years) | yr | 6.79 | ||
December 14, 2018 [Member] | |||
Disclosure of terms and conditions of share-based payment arrangement [line items] | |||
Vested terms of options | Evenly over 20 quarters | ||
Expiry date | December 14, 2025 | ||
Number of options | shares | 50,000 | ||
Weighted average,Exercise price | $ | $ 15.29 | ||
Weighted average,Remaining contractual life (years) | yr | 6.96 |
Share-based Payments - Summar_5
Share-based Payments - Summary of Fair Value of Options (Detail) | 12 Months Ended | |
Dec. 31, 2018CAD ($)yr | Dec. 31, 2017CAD ($)yr | |
Disclosure Of Assumptions Used To Estimate Fair Value Of Stock Options [Line Items] | ||
Share price | $ 9.37 | $ 3.66 |
Expected life of options (in years) | yr | 5 | |
Expected annualized volatility | 55.00% | 55.00% |
Expected dividend yield | 0.00% | 0.00% |
Weighted average Black-Scholes value at grant date (per option) | $ 4.09 | $ 1.39 |
Bottom of Range [member] | ||
Disclosure Of Assumptions Used To Estimate Fair Value Of Stock Options [Line Items] | ||
Share price | 7.57 | 2.42 |
Exercise price (per option) | $ 7.57 | $ 2.42 |
Risk-free interest rate | 1.93% | 0.96% |
Expected life of options (in years) | yr | 5 | |
Top of Range [member] | ||
Disclosure Of Assumptions Used To Estimate Fair Value Of Stock Options [Line Items] | ||
Share price | $ 15.29 | $ 3.27 |
Exercise price (per option) | $ 15.29 | $ 3.32 |
Risk-free interest rate | 2.45% | 1.59% |
Expected life of options (in years) | yr | 7 |
Revenue from Contracts with C_3
Revenue from Contracts with Customers - Summary of Disaggregation of Revenue from Contracts with Customers (Details) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | $ 17,145 | $ 4,082 |
Canadian [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | 15,946 | 3,483 |
Canadian [member] | Dry cannabis [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | 12,219 | 3,142 |
Canadian [member] | Cannabis oils [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | 3,495 | 146 |
Canadian [member] | Other [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | 232 | 195 |
International [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | 1,199 | 599 |
International [member] | Dry cannabis [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | 1,155 | 598 |
International [member] | Cannabis oils [member] | ||
Disclosure Of Disaggregation Of Revenue From Contracts With Customers [Line Items] | ||
Total gross revenue from contracts with customers | $ 44 | $ 1 |
Revenue from Contracts with C_4
Revenue from Contracts with Customers - Additional Information (Details) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018CAD ($)Customer | Dec. 31, 2017CAD ($)Customer | |
Disclosure Of Major Customers [Line Items] | ||
Number of customers | Customer | 1 | 2 |
Total gross revenue from contracts with customers | $ 17,145 | $ 4,082 |
Major customer one [memer] | ||
Disclosure Of Major Customers [Line Items] | ||
Total gross revenue from contracts with customers | 2,832 | 530 |
Major customer two [member] | ||
Disclosure Of Major Customers [Line Items] | ||
Total gross revenue from contracts with customers | $ 780 | |
Expected credit losses [member] | ||
Disclosure Of Major Customers [Line Items] | ||
Expected credit losses on receivables from contract with customers | $ 50 |
Earnings (Loss) Per Share - Sum
Earnings (Loss) Per Share - Summary of Basic and Diluted Earnings (Loss) Per Share (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Numerator | ||
Net income (loss) attributable to common shareholders of Cronos Group | $ (18,970) | $ 2,491 |
Net income (loss) used in the computation of basic and diluted income (loss) per share | $ (18,970) | $ 2,491 |
Denominator | ||
Weighted average number of common shares outstanding for computation of basic income (loss) per share | 172,269,170 | 134,803,542 |
Dilutive effect of warrants | 38,378,288 | |
Dilutive effect of options and share appreciation rights | 3,607,331 | |
Weighted average number of common shares for computation of diluted income (loss) per share | 172,269,170 | 176,789,161 |
Related Party Transactions an_3
Related Party Transactions and Balances - Summary of Key Management Personnel (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Transactions Between Related Parties [Abstract] | ||
Short-term employee benefits, including salaries and fees | $ 437 | $ 417 |
Professional fees | 343 | 234 |
Share-based payments | 1,448 | 899 |
Total compensation | $ 2,228 | $ 1,550 |
Related Party Transactions an_4
Related Party Transactions and Balances - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares | |
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Number of options issued | shares | 1,910,000 | 6,402,000 |
Share-based compensation expense | $ | $ 4,238,000 | $ 1,862,000 |
Members of key management [member] | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Number of options issued | shares | 150,000 | 3,575,000 |
Balance payable to key management | $ | $ 0 | $ 0 |
Board of director [member] | ||
Disclosure Of Transactions Between Related Parties [Line Items] | ||
Number of options issued | shares | 550,000 | 1,800,000 |
Share-based compensation expense | $ | $ 1,246,000 | $ 601,000 |
Commitments and contingencies -
Commitments and contingencies - Summary of Minimum Payments Under Operating Lease Obligations for Its Premises Due in Future Fiscal Years (Detail) $ in Thousands | Dec. 31, 2018CAD ($) |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | $ 5,950 |
2019 [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | 810 |
2020 [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | 581 |
2021 [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | 586 |
2022 [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | 592 |
2023 [member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | 653 |
Later Than Five Years And Thereafter [Member] | |
Disclosure of maturity analysis of operating lease payments [line items] | |
Minimum operating lease obligations | $ 2,728 |
Commitments and contingencies_2
Commitments and contingencies - Additional Information (Detail) $ in Thousands | Oct. 15, 2018USD ($) | Sep. 04, 2018USD ($)shares | Dec. 31, 2018CAD ($)shares | Jul. 17, 2018USD ($) | Jul. 31, 2015CAD ($) |
Disclosure Of Contingent Liabilities [Line Items] | |||||
Research fund | $ 2,350 | ||||
Research and Development Agreement [member] | Ginkgo Bioworks Inc. [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Aggregate value of shares issuable | $ 100,000 | ||||
Milestones Payment | $ 22,000 | ||||
Research and Development Agreement [member] | Technion [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Research fund | $ 1,784 | ||||
Research funding commitment period | 3 years | ||||
Cash payments | $ 4,900 | ||||
Research and Development Agreement [member] | MedCann Access Acquisition Claim [member] | Peace Naturals [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Claims related to contingencies | $ 15,000 | ||||
Provision for loss recognized | $ 0 | ||||
Research and Development Agreement [member] | Warrants Claim | Peace Naturals [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Claims related to contingencies | 125 | ||||
Claim related contingencies to related party | 300 | ||||
Research and Development Agreement [member] | Former employees' unlawful termination claims [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Claims related to contingencies | $ 580 | ||||
Number of options claimed | shares | 30,000 | ||||
Research and Development Agreement [member] | Former employees' unlawful termination claims [member] | Peace Naturals [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Claims related to contingencies | $ 12,682 | ||||
Percentage of equity interest claimed | 10.00% | ||||
Top of Range [member] | Research and Development Agreement [member] | Ginkgo Bioworks Inc. [member] | |||||
Disclosure Of Contingent Liabilities [Line Items] | |||||
Number of common shares issuable | shares | 14,700,000 |
Income Taxes - Components of Ta
Income Taxes - Components of Tax Provision (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Major Components Of Tax Expense Income [Abstract] | ||
Deferred | $ 489 | $ 298 |
Tax provision | $ 489 | $ 298 |
Income Taxes - Additional Infor
Income Taxes - Additional Information (Detail) | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Expense Benefits [Abstract] | ||
Combined statutory tax rate | 26.50% | 26.50% |
Income Taxes - Reconciliation o
Income Taxes - Reconciliation of Combined Canadian Federal and Provincial Statutory Income Tax Rate to Effective Tax Rate (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Income Tax Expense Benefits [Abstract] | ||
Income (loss) before income taxes | $ (18,716) | $ 2,789 |
Combined statutory tax rate | 26.50% | 26.50% |
Theoretical tax expense (recovery) | $ (4,960) | $ 739 |
Share-based payments | 1,123 | 494 |
Meals and entertainment | 18 | |
Non-taxable portion of capital gains | (83) | (762) |
Effect of provincial tax rate difference | (4) | 5 |
Changes in unrecognized deferred tax assets | 4,395 | (178) |
Tax provision | $ 489 | $ 298 |
Income Taxes - Summary of Compo
Income Taxes - Summary of Components of Deferred Tax (Detail) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Deferred tax liabilities | ||
Deferred tax liabilities | $ (1,850) | $ (1,416) |
Net deferred tax liability | (1,850) | (1,416) |
Non-capital losses carried forward [member] | ||
Deferred tax assets | ||
Deferred tax assets | 5,175 | 5,690 |
Financing Fees [Member] | ||
Deferred tax assets | ||
Deferred tax assets | 315 | 31 |
SR&ED [member] | ||
Deferred tax assets | ||
Deferred tax assets | 55 | 28 |
Finance Lease Obligation [Member] | ||
Deferred tax assets | ||
Deferred tax assets | 42 | |
Provisions [member] | ||
Deferred tax assets | ||
Deferred tax assets | 49 | |
Biological assets [member] | ||
Deferred tax liabilities | ||
Deferred tax liabilities | (1,676) | (986) |
inventory [member] | ||
Deferred tax liabilities | ||
Deferred tax liabilities | (1,639) | (1,989) |
Investments in Equity Accounted Investees [member] | ||
Deferred tax liabilities | ||
Deferred tax liabilities | (41) | (153) |
Other Investments [member] | ||
Deferred tax liabilities | ||
Deferred tax liabilities | (36) | (91) |
Property, plant and equipments [member] | ||
Deferred tax liabilities | ||
Deferred tax liabilities | (1,285) | (968) |
Intangible assets [member] | ||
Deferred tax liabilities | ||
Deferred tax liabilities | $ (2,809) | $ (2,978) |
Income Taxes - Summary of Chang
Income Taxes - Summary of Changes in Net Deferred Tax Liability (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Temporary Difference Unused Tax Losses And Unused Tax Credits [Abstract] | ||
Balance - beginning of year | $ 1,416 | $ 1,457 |
Recognized in income | 489 | 298 |
Recognized in other comprehensive income | (55) | (339) |
Balance - end of year | $ 1,850 | $ 1,416 |
Income Taxes - Summary of Net D
Income Taxes - Summary of Net Deferred Tax Asset Not Recognized (Detail) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Property, plant and equipment [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax asset not recognized | $ 1,090 | $ 684 |
Share and debt issuance costs [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax asset not recognized | 9,488 | 2,834 |
Losses carried forward [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax asset not recognized | 25,663 | $ 7,814 |
Equity accounted investments [member] | ||
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | ||
Net deferred tax asset not recognized | $ 923 |
Income Taxes - Summary of non-c
Income Taxes - Summary of non-capital losses carried forward from current and prior years (Detail) - Unused tax losses [member] $ in Thousands | 12 Months Ended |
Dec. 31, 2018CAD ($) | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | $ 45,446 |
2030 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 32 |
2031 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 22 |
2032 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 341 |
2033 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 2,547 |
2034 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 1,782 |
2035 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 5,452 |
2036 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 4,623 |
2037 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | 4,502 |
2038 [member] | |
Disclosure of temporary difference, unused tax losses and unused tax credits [line items] | |
Unused non-capital and farm losses | $ 26,145 |
Operating Segment Information -
Operating Segment Information - Additional Information (Detail) - Segment | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Disclosure Of Operating Segments [Abstract] | ||
Number of operating segments | 1 | 2 |
Operating Segment Information_2
Operating Segment Information - Detailed Report of Segments (Detail) - CAD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 | |
Disclosure of operating segments [line items] | |||
Gross revenue | $ 17,145 | $ 4,082 | |
Share of income (loss) from investments in equity accounted investees | (936) | 165 | |
Unrealized change in fair value of biological assets (Note 6) | (11,568) | (7,637) | |
Cost of sales before fair value adjustments (Note 6) | 7,654 | 2,040 | |
Realized fair value adjustments on inventory sold in the year (Note 6) | 8,349 | 2,449 | |
Gain on other investments | 221 | 4,858 | |
Share-based payments | 4,238 | 1,862 | |
Interest expense | 126 | ||
Depreciation and amortization | 1,256 | 541 | |
Net income (loss) | 2,491 | ||
Total assets | 261,119 | 101,029 | |
Total liabilities | 49,479 | 14,661 | |
Shareholders' equity | 211,640 | 86,368 | $ 33,677 |
Property, plant and equipment | $ 171,891 | 56,172 | $ 14,122 |
Additions to property, plant and equipment | 43,046 | ||
Operating Segments [member] | Investing segment [member] | |||
Disclosure of operating segments [line items] | |||
Share of income (loss) from investments in equity accounted investees | 165 | ||
Gain on other investments | 4,858 | ||
Intercompany revenue | 624 | ||
Share-based payments | 1,862 | ||
Interest expense | 1 | ||
Depreciation and amortization | 71 | ||
Net income (loss) | (368) | ||
Total assets | 151,998 | ||
Total liabilities | 979 | ||
Shareholders' equity | 151,019 | ||
Property, plant and equipment | 1,153 | ||
Additions to property, plant and equipment | 139 | ||
Operating Segments [member] | Operating segment [member] | |||
Disclosure of operating segments [line items] | |||
Gross revenue | 4,082 | ||
Unrealized change in fair value of biological assets (Note 6) | (7,637) | ||
Cost of sales before fair value adjustments (Note 6) | 2,040 | ||
Realized fair value adjustments on inventory sold in the year (Note 6) | 2,449 | ||
Interest expense | 600 | ||
Depreciation and amortization | 470 | ||
Net income (loss) | 3,382 | ||
Total assets | 70,198 | ||
Total liabilities | 67,957 | ||
Shareholders' equity | 2,241 | ||
Property, plant and equipment | 53,175 | ||
Additions to property, plant and equipment | 42,908 | ||
Inter-segment elimination [member] | |||
Disclosure of operating segments [line items] | |||
Intercompany revenue | (624) | ||
Interest expense | (475) | ||
Net income (loss) | (523) | ||
Total assets | (121,167) | ||
Total liabilities | (54,275) | ||
Shareholders' equity | (66,892) | ||
Property, plant and equipment | $ 1,844 |
Supplementary Cash Flow Infor_3
Supplementary Cash Flow Information - Summary of Changes in Non-Cash Working Capital (Detail) - CAD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018 | Dec. 31, 2017 | |
Changes in non-cash working capital items [Abstract] | ||
Accounts receivable | $ (3,023) | $ (1,033) |
Sales taxes receivable | (305) | (3,114) |
Prepaids and other receivables | (3,086) | (287) |
Biological assets | 6,216 | 5,710 |
Inventory | (11,517) | (8,957) |
Accounts payable and other liabilities | 7,479 | 6,697 |
Holdbacks payable | 7,887 | |
Government remittances payable | 1,093 | |
Net changes in non-cash working capital | $ 4,744 | $ (984) |
Financial Instruments - Additio
Financial Instruments - Additional Information (Detail) $ in Thousands | 12 Months Ended | |
Dec. 31, 2018CAD ($)CustomerVendor | Dec. 31, 2017CAD ($)CustomerVendor | |
Credit risk [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Maximum exposure to credit risk | $ 44,166 | $ 10,662 |
Credit loss allowance | $ 50 | |
Description of concentrations of risk | The Company has assessed that there is a concentration of credit risk, as 87.6% of the Company's accounts receivable were due from 5 customers as at December 31, 2018 (2017 - 89.3% due from 2 customers). | |
Concentrations of credit risk | 87.60% | 89.30% |
Number Of Customers | Customer | 5 | 2 |
Cash held | $ 32,634 | $ 9,208 |
Liquidity risk [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Payables | 35.00% | 89.30% |
Number Of Vendors | Vendor | 1 | 2 |
Currency risk [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Increase the net loss due to currency transation | $ 90 | |
Decrease in other comprehensive income | $ 326 | |
Decrease in foreign currency exchange rate percentage | 10.00% | |
Increase in foreign currency exchange rate percentage | 10.00% |
Financial Instruments - Summary
Financial Instruments - Summary of Maturity Analysis of Trade Receivables (Detail) - Credit risk [member] - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade receivables | $ 4,163 | $ 1,140 |
Less than 30 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade receivables | $ 3,980 | 1,020 |
Less than 30 days past billing date [member] | Bottom of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 0.00% | |
Less than 30 days past billing date [member] | Top of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 3.00% | |
31 to 60 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade receivables | $ 136 | 85 |
31 to 60 days past billing date [member] | Bottom of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 0.00% | |
31 to 60 days past billing date [member] | Top of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 5.00% | |
61 to 90 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade receivables | $ 35 | |
61 to 90 days past billing date [member] | Bottom of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 0.00% | |
61 to 90 days past billing date [member] | Top of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 8.00% | |
91 to 120 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade receivables | $ 19 | |
91 to 120 days past billing date [member] | Bottom of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 0.00% | |
91 to 120 days past billing date [member] | Top of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 12.00% | |
Over 120 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade receivables | $ 28 | |
Over 120 days past billing date [member] | Bottom of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 0.00% | |
Over 120 days past billing date [member] | Top of Range [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Expected Credit Loss Rate | 18.00% |
Financial Instruments - Summa_2
Financial Instruments - Summary of Analysis of Age of Trade Payables (Detail) - Liquidity risk [member] - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 |
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade payables | $ 1,595 | $ 7,076 |
Less than 30 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade payables | 1,201 | 6,725 |
31 to 60 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade payables | 365 | 113 |
61 to 90 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade payables | $ 29 | 66 |
Over 90 days past billing date [member] | ||
Disclosure Of Financial Instruments [Line Items] | ||
Analysis of the age of trade payables | $ 172 |
Financial Instruments - Summa_3
Financial Instruments - Summary of Foreign Currency Denominated Assets and Liabilities (Detail) ₪ in Thousands, $ in Thousands, $ in Thousands | Dec. 31, 2018CAD ($) | Dec. 31, 2018AUD ($) | Dec. 31, 2018ILS (₪) | Dec. 31, 2017CAD ($) | Dec. 31, 2016CAD ($) |
Disclosure Of Financial Instruments [Line Items] | |||||
Advances to joint ventures | $ | $ 6,941 | ||||
Cash | $ | $ 32,634 | $ 9,208 | $ 3,464 | ||
Currency risk [member] | |||||
Disclosure Of Financial Instruments [Line Items] | |||||
Advances to joint ventures | $ | $ 1,029 | ||||
Cash | ₪ 840 | ||||
Sales taxes receivable | 2,066 | ||||
Accounts payable and other liabilities | 1,083 | ||||
Due to non-controlling interests | ₪ 5,878 |
Capital Management - Additional
Capital Management - Additional Information (Detail) - CAD ($) $ in Thousands | Dec. 31, 2018 | Dec. 31, 2017 | Dec. 31, 2016 |
Disclosure Of Capital Management [Abstract] | |||
Equity | $ 211,640 | $ 86,368 | $ 33,677 |
Subsequent Events - Additional
Subsequent Events - Additional Information (Detail) | Mar. 08, 2019CAD ($)Warrant$ / sharesshares | Mar. 04, 2019CAD ($)$ / sharesshares | Jan. 30, 2019CAD ($) | Jan. 23, 2019CAD ($) | Jan. 11, 2019CAD ($)shares | Mar. 31, 2019CAD ($)shares | Dec. 31, 2018CAD ($)shares | Dec. 31, 2017CAD ($)shares |
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Proceeds from sale of other investments | $ 967,000 | $ 10,879,000 | ||||||
Options exercised, shares | shares | 597,379 | 571,246 | ||||||
Proceeds from exercise of options | $ 584,000 | $ 591,000 | ||||||
Disposal of Other Investment [Member] | Canopy Growth Corporation [member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Common share sold | shares | 11,062 | |||||||
Proceeds from sale of other investments | $ 471,000 | |||||||
Gain on sale of other investments | $ 66,000 | |||||||
Commencement of Debt Agreement [member] | Credit Facility with Canadian Imperial Bank of Commerce [member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Secured non-revolving term loan credit facility | $ 65,000,000 | |||||||
Loan principal | 21,311,000 | |||||||
Repayments of accrued interest and fees | $ 275,000 | |||||||
Settlement of Litigation [Member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Legal claims settled | $ 644,000 | |||||||
Major Ordinary Share Transactions [member] | Aurora [member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Common share sold | shares | 2,524,341 | |||||||
Proceeds from sale of other investments | $ 25,560,000 | |||||||
Gain on sale of other investments | $ 860,000 | |||||||
Share received | shares | 2,524,341 | |||||||
Aggregate value of shares to be received | $ 24,700,000 | |||||||
Common shares issue price | $ / shares | $ 9.77 | |||||||
Volume weighted average price period | 5 days | |||||||
Major Ordinary Share Transactions [member] | Aurora [member] | Whistler [member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Common share sold | shares | 2,563 | |||||||
Gain on sale of other investments | $ 20,605,000 | |||||||
Percentage of common share sold | 19.00% | |||||||
Aggregate value of shares to be received | $ 7,600,000 | |||||||
Investment [Member] | Altria [Member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Proceeds from investor | $ 2,434,800,000 | |||||||
Investment, shares issued | shares | 149,831,154 | |||||||
Investment, warrants issued | Warrant | 1 | |||||||
Investment, warrant exercise end date | 2023-03 | |||||||
Investment, number of shares called by warrant | shares | 73,990,693 | |||||||
Investment, exercise price of warrant | $ / shares | $ 19 | |||||||
Investment, ownership interest | 45.00% | |||||||
Investment, ownership interest if exercised in full | 55.00% | |||||||
Additional proceeds from investor if warrant fully exercised | $ 1,405,800,000 | |||||||
Share Appreciation Right Exercise [Member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Options exercised, shares | shares | 47,005 | |||||||
Share Appreciation Right Exercise [Member] | Common Shares [Member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Number of shares issued | shares | 37,065 | |||||||
Options [Member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Options exercised, shares | shares | 375 | |||||||
Proceeds from exercise of options | $ 1,000 | |||||||
Weighted average exercise price $ | share | $ 2.18 | |||||||
Options cancelled, shares | shares | 2,479 | |||||||
Warrants [member] | ||||||||
Disclosure Of Nonadjusting Events After Reporting Period [Line Items] | ||||||||
Number of warrants exercised | shares | 4,390,961 | |||||||
Warrants exercised in exchange of cash | $ 1,180,000 | |||||||
Weighted average exercise price $ | share | warrant | $ 0.27 |