morning, and Anna, good you, Thank everyone.
I’d like to During a do review. today, my year-end remarks
first year Cronos for notable cannabis country and The Group making nationally. of one legalize achieved. for adult-use, milestones industry past the pace. year was at that our on and such a we look legalization cannabis highly to important year I with Canada GX moved think Company it’s saw reflect and a Company all accomplished to the both just as fast productive XXXX industry in adult-use back many
proud are participant a emerging to this market. in be We
federally learn, happiness journey legal are a leading company to Canada. that environment we meaningful industry motivated set To I allow chain, Cronos we our the review and distribution an to briefly supply the of a sales for and are supply three I’ve leader. Canadian create and As life. the want improved in this be growth vast. excite potential commitment is before, opportunities operating legal the to growing investment quality chose would from take production footprint, the When our of industry mentioned in of is in build out brands, and a chain, capacity in to to to opportunities. us framework in today, forward our a these realize The implementing value earnings four an create strategy. network. With we on Cronos We aspects and efficient a innovation and and At a Group, set call responsibly has products production well-positioned strategic cannabinoid cannabis stage and differentiated pride years the ago, bring global consumers footprint Altria Group, reason a that the global global diversified knew developing we to industry government’s leadership Group are establishing global our operate
consumers. portfolio We iconic of that disruptive property growing are and monetizing a creating and intellectual brands with resonate
the In production will we update our start what business we’ll is strategic is XXX,XXX production pillars certified August center and Building GMP on still XXXX, we authorization of are received facility a The populated first under in excellence, call, to and an cannabis. produced runs manufacturing in ramping building, Peace will large our facilities, our This as of December similar the square-foot flower in each Canada other to that X cycle, we half from and expansion. its provide rooms harvest Health facility. scale continue going perpetual Like with to cultivation controls. at to XXXX. cannabis globally. of additional improve in in cycle, Building Naturals, of to its cultivate each facility be X. The grow to expect dial agriculture do we our this XXXX During I’ll yields first all expect discuss these harvest
such whole very of time. period of as campus what our to a We build facility, proud were and Peace Naturals in are a able we this short
While regulations of shift milligrams will to increasingly And of seen products cannabis from shifts in focus per mean optimize cost still the that, will again important mind, is not chain flower on. packaging this standard will to metric We Efficiency gram to this cost already to-date, think an on a tax products. goods pre-rolls flower And final towards for we think cannabis value evolve. relevant and and that the cost cost cannabis our as ingredient. line, in yields proposed unit supply have an the cost we and I starting area excise and such be categories as With come downstream active of stick, we and we've but sold. continue dry will from weight the processing cannabinoids. of be been industry in of shift grams cost sold, by will in gram differentiator Canada working the added to measuring
genetics, and co-manufacturing methodologies the world. practices best around sophisticated of agricultural to our with capacity and our important. involves taking operators scaling demand, agricultural we've As up extremely Naturals, creating and develop be we further practices Peace believe management supply approach that our This that is relationships will having excellence, at experienced, catches center expertise growing labor to why then large scale, our
and launched a investors large our cultivation a scale partnerships. Canada, greenhouse leading joint with Cronos Mucci, a and confident we to operator. venture GrowCo committed Canadian led are In We Bert of by group
XX,XXX kilos previous complete to the begun purpose the of to superstructure expect become we to our the in up making half during built international greenhouse cannabis operational is of bringing on GrowCo on has in constructing and greenhouse, similar XXX,XXX in annually. to discussed Cronos And expected Construction footprint. second an phases is expect to also greenhouse call, produce, of As we're XXXX. how which this earnings progress of line, greenhouse XXXX. our production We're Build X the we square-foot
research joint construction turning American investors Israel, cannabis facility the provider First, first the cannabis-based production complete a square-foot our Kibbutz and that will many in We We for manufacture Israeli in of cannabis distribution with Cronos products. on allow and venture, with managing was will establishes products Israel ownership industrial pursue NatuEra that operations an construction a global construction. Latin expertise, holders the medical in manufacturing are distribution and for Cronos and In understand greenhouse the leading agricultural planting Israel. operations. from economic our of Israeli of manufacturing and full the Israel entity, to NatuEra services develop, of focused XX,XXX anticipate of XXXX, formed Israel, with intend Latin to be announced the of newly XXXX, running. produce and also half Cronos of Cronos entities equity the to to global European our cannabis. is licensing up brought XXXX. cultivate is are and agricultural XXXX, Shmuel. of of a Cronos plants cultivate, explicitly America. consumer to products medical the and cannabis derivative off partners, effective collective license we scale In the the model JV production, Gan export export will of XX to medical years XX% export the for non-psychoactive markets. to medical across license holds that to and the We Colombian horticultural This cannabis companies countries and complete Colombia in the over which once production half important a approved medical second granted January the capacity. export from have approved manufacture Cronos modeling and seeds of cannabis partnership will government be
than see think not the value all prove cows. cannabis can our expect we wholesale cultivation think farmer. and sustainable developing This recognize work model value and verticals. verticals areas business including innovative and be industry industry created branded to In our like cheese words, then on focused approach successful be products many making chain, will tremendous goods the milking in in we people. the we And in analogous supply, you Rather, value, product marketing However, successful long-term opportunity but focus marketing where pharmaceuticals. across be raising the other and well. all there see that and as will in retail. the and to it will as to We be branded manufacturing, packaged with consumer other across can't proven is industries, industry development, on things such mechanics focus the We research the rather has experts we that and whole
Moving distribution. the British became COVE brands, in on and for legalize Spinach. new participated Saskatchewan. these country of Canada first brands the are to in two Edward cannabis launch adult-use GX Cronos through adult-use. Colombia distributed Island and market sales Prince our to this Currently, Nova Ontario, Scotia,
grows, The Canadian a is announced MedMen and to Enterprises changing. venture into private distribution territories. joint create landscape MedMen provinces expand In capacity retail additional we intend Canada. also As XXXX, to our we production with evolving and
a develops valuable in situation each to with a relationship continue brand. the large we is province. We So, review and this it recognizable think analyze as
with the Cannabis. large we kilos We up evolve. Additionally and signed a Cronos than products. and distribution strong with hospitals purchase open branded Cura Naturals Poland. with and it a in announced relationships from to distribution Cura Peace set June over for this market Group five-year its XXXX a wholesaler like five-year reach of agreement the XXXX, date as to a XXX with MedMen the Group X,XXX pay received Cronos companies supply to take made into minimum a new the entered into partnership supply the cannabis strides its pharmacies partnering Delfarma, supply regulations in distribution annually with XX,XXX markets licenses. Cura year, and global of believe to we Internationally, supply GrowCo agreement of In entered pharmaceutical cannabis more exclusive medical expand network agreement Cronos or
the be also near the distributor extremely medical systems We their Asia base the signed Pacific in German role in for cannabis growing European and but with Pohl-Boskamp, and a that and factors pharmaceutical in term, play development exclusive crucial Europe is to five-year patient see for will which our market, markets. international in We important XXXX. form it manufacturer the of agreement markets future, pharmaceutical have an and delivery these was prescription for distribution belief
want in pathways process registration expertise Germany. have drugs direct we partners We who as supply to ensure of current end retail in our take Pohl-Boskamp our partners, at a partners calculated non-combustible our clients, private for our we the patient approach these provincial in markets. in our all the pursuing regulatory consumers committing new with additional are in the and products support to international of of and We
new our this stage to meet our the At we the the very existing As our global growing of ramps our open, distribution balance must global supporting we delicate newly demand balanced footprint of of this supply and channel. distribution. meeting created cognizant channels of business, are while demands
On we the our a discussing of spent intellectual earnings property of lot strategy. call, time pillar last
Company creating I this strategy. value the and As our to in continue reiterate evolve, and incredibly pillar business. to for our business will important be want driving
learn to and then bioavailability product, effect, then specific blueprint appropriate combinations terpenes active to create world's as building CBD. seek we We and effectively for full depending its customize ingredients intellectual cannabinoids and and monetizing case, have are and a those and psychoactive disruptive and to efficient active effects therapeutic in innovative to a reconstituting not formulate the cannabinoid benefits. spectrum them most around by we just pathway. order that Group, company use At where research develop dedicated of delivery processes using and/or produce systems, and cannabinoids, We're commercialization ingredients property. the plant the THC moat differentiated formulate in creating, the the Cronos build on to We'll optimize its
ways goal industry. landmark announced early we is disrupt Bioworks, the strategic Ginkgo of R&D One accomplish this which partnership with we through will the We believe partnership our September. potential the has in this to
power Ginkgo. For like partnering and this to followers Cronos the company I'd unparalleled of the like an of briefly explain significance the story, benefit the announcement new of with to
at produce and back Cronos CBD, And Our objective cannabinoids believe going and only This to Ginkgo cannabinoids. rather Cronos to we rare production By strategy, with new cannabinoids impractical to facilities. cannabinoid and of or are high using produce are cultured traditional infrastructure, at materially fermentation, to not at leverage enable manage and key scale. and produce near cannabinoids to production our existing THC also commercial impossible the can the at today we scale are commercially. CapEx cost extraction. economically scale Using is fermentation heavy and the could includes commercial that cultivation product reduce Ginkgo production this rare through but but than purity to cultivation that differentiation, incurring rare impossible of extraction nearly build and methodology,
greater make believe we Additionally, to at it kilo of of fermentation. issued of is can than aligned shares each each liters. incentivize cannabinoids. based partnership using eight cannabinoids on cannabinoids which cannabinoid consistency. when is shares produced deliver each technology In will less can scale this party. a XX.X per focused total microorganisms, to than XXX partnership Ginkgo on at for be cannabinoid. the for Ginkgo The produce will scale easier US$X,XXX strongly million pure product tranches, us be in to common will issued design be eight Cronos will The
desirable educate of experience of two skin skin three-year a Dedi to Dr. led by of Stem pathologies. research need prescription to wound Biology the and researchers with In a licenses Yaron preclinical the and stem leading foundry to In Dr. of the addition, on use have consumer members, and In fund Ginkgo ID and will deals cannabis relevant right cannabinoid health cannabis products. brands of will research. its pre-rolls products to conditions: regulating acne, our and research, entered Cronos key with Technion Foundation The production milestones from flower of Department to take to a be cannabinoids. Cancer psoriasis intellectual will reaching November Meiri the be We and in conduct products and from in. Cell Massachusetts our be will use we vast important. and for an and believe over development expenses, of production three to milestones, I'd will with Fuchs, to time agreement commercialize conducted the skin by very XXXX, years heads it differentiated the in Laboratory Research skin to the We like using and in come Dr. can The be the Technion up research. which talk approximately world’s the the the We And globally. the Meiri adult-use purchase million our announced will Fuchs, Development that US$XX September the target reach of be and focus Public and property of sponsored patented the cannabinoids, healing. Upon disorders. and think Health. cell Medicine biology faculty cultured skin equity heads explore Cannabis that from exclusive on fourth that's and able expected in the DEA into years the three XXXX, research buy XXXX derivative Dr. Whether to perpetually related these know Regenerative the period anywhere, continue significant experience the and studies will quarter, endocannabinoid or leads Cronos role to being September that the end, in of be cannabinoids. cannabinoids and bought research will where Research brands. consumers and over also the target about to and their will partnership. of term are of Laboratory will adult the Technion received consumers also To be advantages achieved Fuchs products R&D to
are quality market or We XXXX. in providing premium through brands are two today future consumers on focusing oil, our the high or October We whether available product derivative Canadian adult-use which of in the products, offerings. consumer it's market flower launched in in the
Our premium mainstream Spinach, market. brand brand hearted, playful geared is light on towards consumer COVE the focused and the a is
authentic Our experiences respective brands targets. to are tailored offer consumer their for
believe pending advance will changes, tailored a will through for which to the in be uniquely differentiate As brands derivative we create regulatory offering begins ability experience greater products, to consumers. the product with Canada there more
we Our off our we creating global that into the developing and announced subscription major network, establishing footprint, led in growing production XXXX and focus with property, entered agreement To has family global our of sales in efficient a ultimately disruptive on cap a Group. distribution and securing an intellectual strategic partner Altria. brands Altria year, to investor
they our billion major Cronos relationship be proceeds. in incredibly exercisable March additional we a to with deal which represents a Cronos is Xth. years. over would Company, milestone and billion Our interest next in is ownership proud and Altria’s the investment an embarking Group equity for the with on. The closed investment provide acquire to approximate Group Altria’s approximately have $X.X ownership XX% the Cronos C$X.X are Group XX% also on Altria warrant four an additional warrant of
expect significant and access valuation commercialization investment to for resources, but Company. The investment not development We also and additional this accelerate our scale financial product provides and to only lead growth to globally. ability capabilities the our to
as of Rudyk, of Directors three directors, closing The our Chairman. investment, existing seven and myself includes Managing five who Jason Partner, and Adler, Board of the CFO Partners, Green and expands Jim now a Roots, to of members. Co-Founder Lead from will With serve Gotham Director, the Board as
Growth Director assume Hilson. and management from April CFO Murray Altria our Group team. Evans, Crosthwaite will SVP Jerry on Counsel Former role of new directors. Earlier Billy Cronos Jerry of Affairs Strategy Corporate of Altria, four General also will consultant; Bronwen the this an K.C. announced recently External of expansion at welcome Jr., Barbato, Gates, Officer Senior at we and Bruce Garnick, Altria; join Additionally, XXth. Chief month, independent Strategy we of an most Altria.
in from analysis to planning, to years further responsible a expect to on Officer help Billy management, Jerry's addition new brand as Commercial be them. move In and And with partnership and we XX the a you this and commercial is for strategy of Many foremost benefiting Chemistry, know at not years in experience with ensure well strategic this, firsthand Billy capitalize were but Biochemist may Chief Molecular will Bachelor we in pharmaceutical as of will of fully first a Cronos and Company. as the He our companies. the there of Science and Altria that of XX financial knowledge scientist. role Group’s Science has experience Genetics, a enhancing initiatives Master multinational of research
experience Billy’s strategy As expect pharmaceutical business our those the necessary and growth cultivation fields relationships develop from and our knowledge and and scale further team formulation, appointments commercial we of with premiere initiatives support scientific enhance to Company Company. to These of next phase to development. commitment demonstrate the and and R&D our in leadership to the a
As what an is we quarter’s we filled this many industry year start. his forward Billy to ideal to I'll into relationship results to we and this shareholders in with partners and to a and XXXX and in XXXX it our with to as financial of similar official CFO. work accomplishments, Altria With come. to this for just It turn year already thank over reality, give in that, the ended their look many I to year last to full the an can transform create expect that we’d many incredible We an Cronos Group was discussion idea was the and opportunities support. like once say company firsts, off
appearances explain calls be the Although, to in of future making significance our on of the the he'll pipeline. interesting commercial innovations I'm these sure, guest some in
