Item 5. Market for Registrant’s Common Equity
ITEM 5. MARKET FOR REGISTRANT’S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND ISSUER PURCHASES OF EQUITY SECURITIES.
Our common shares are traded on Nasdaq and the TSX under the symbol “CRON.”
Holders
As of February 28, 2022, there were approximately 100 holders of record of our common shares. This number of holders of record does not represent the actual number of beneficial owners of our common shares because shares are frequently held in “street name” by securities dealers and others for the benefit of individual owners who have the right to vote their shares.
Dividends
As of the date of this Annual Report, we have not declared any dividends or made any distributions on our common shares. Furthermore, we have no current intention to declare dividends on our common shares in the foreseeable future. Any decision to pay dividends on our common shares in the future will be at the discretion of the Board and will depend on, among other things, our results of operations, current and anticipated cash requirements and surplus, financial condition, any future contractual restrictions and financing agreement covenants, our ability to meet solvency tests imposed by corporate law and other factors that the Board may deem relevant.
Securities Authorized for Issuance under Equity Compensation Plans
Information concerning securities authorized for issuance under equity compensation plans will be set forth in the Company’s definitive proxy statement for its 2022 Annual Meeting of Shareholders or an amendment to this Annual Report to be filed within 120 days of our fiscal year end.
Purchases of Equity Securities by the Issuer and Affiliated Persons
None.
Recent Sales of Unregistered Securities
None.
Performance Graph
The following performance graph compares the cumulative total shareholder return of our common shares as listed on Nasdaq with the cumulative total return of the S&P 500 Index and a market-weighted index of publicly traded peers over the 46-month period beginning on February 27, 2018 and ending on December 31, 2021. The new peer group includes Aurora Cannabis Inc., Canopy Growth Corporation, Green Thumb Industries, Inc., HEXO Corporation, iAnthus Capital Holdings Inc., Organigram Holdings Inc., and Tilray Inc (the “New Peer Group”). The graph assumes that $100 is invested in each of our common shares, the S&P 500 Index, and the indices of publicly traded peers on February 27, 2018 and that all dividends, if applicable, were reinvested. Past performance may not be indicative of future performance.
The old peer group included Aphria Inc., Aurora Cannabis Inc., Canopy Growth Corporation, Green Thumb Industries, Inc., GW Pharmaceuticals plc., HEXO Corporation, iAnthus Capital Holdings Inc., Organigram Holdings Inc., and Tilray Inc. (the “Old Peer Group”). GW Pharmaceuticals plc was removed from the New Peer Group because it was acquired by Jazz Pharmaceuticals plc on May 5, 2021, after which we no longer believe that its business model makes it comparable. Aphria Inc. was removed from the New Peer Group because it merged with Tilray Inc. on May 3, 2021.
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Date Cronos Group Inc. S&P 500 Old Peer Group New Peer Group
February 27, 2018 $ 100.00 $ 100.00 $ 100.00 $ 100.00
March 31, 2018 $ 88.32 $ 97.46 $ 105.74 $ 111.22
June 30, 2018 $ 85.56 $ 100.81 $ 117.69 $ 121.53
September 30, 2018 $ 145.93 $ 108.58 $ 176.06 $ 190.41
December 31, 2018 $ 136.35 $ 93.90 $ 90.50 $ 98.39
March 31, 2019 $ 241.86 $ 106.71 $ 137.00 $ 145.34
June 30, 2019 $ 209.71 $ 111.31 $ 119.05 $ 124.13
September 30, 2019 $ 118.77 $ 113.20 $ 70.63 $ 70.99
December 31, 2019 $ 100.66 $ 123.46 $ 57.16 $ 55.09
March 31, 2020 $ 74.41 $ 99.27 $ 36.06 $ 32.45
June 30, 2020 $ 78.87 $ 119.66 $ 44.61 $ 37.99
September 30, 2020 $ 65.75 $ 130.35 $ 38.79 $ 33.33
December 31, 2020 $ 91.08 $ 146.18 $ 62.64 $ 58.43
March 31, 2021 $ 100.00 $ 155.21 $ 80.85 $ 80.99
June 30, 2021 $ 90.91 $ 168.47 $ 70.40 $ 70.52
September 30, 2021 $ 59.83 $ 169.46 $ 47.17 $ 47.25
December 31, 2021 $ 41.44 $ 188.14 $ 32.62 $ 32.67
*$100 invested on 2/27/18 in stock or 2/28/18 in index, including reinvestment of dividends. Fiscal year ending December 31.
Copyright© 2022 Standard & Poor’s, a division of S&P Global. All rights reserved.
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Because Cronos Group’s common shares are also traded on the TSX, we are providing additional information in order to enhance the reader’s understanding of our trading history. The following performance graph compares the cumulative total shareholder return of our common shares as listed on the TSX with the cumulative total return of the S&P 500 Index, the New Peer Group and the Old Peer Group over the five-year period beginning on December 31, 2016 and ending on December 31, 2021. The graph assumes that $100 is invested in each of our common shares, the S&P 500 Index, and the indices of the aforementioned peer group and that all dividends, if applicable, were reinvested. Past performance may not be indicative of future performance.
Date Cronos Group Inc. S&P 500 Old Peer Group New Peer Group
December 31, 2016 $ 100.00 $ 100.00 $ 100.00 $ 100.00
December 31, 2017 $ 658.11 $ 121.83 $ 137.85 $ 131.83
December 31, 2018 $ 971.62 $ 116.49 $ 51.97 $ 39.64
December 31, 2019 $ 673.65 $ 153.17 $ 44.68 $ 32.37
December 31, 2020 $ 597.30 $ 181.35 $ 55.37 $ 40.60
December 31, 2021 $ 100.00 $ 233.41 $ 59.61 $ 44.34
*$100 invested on 12/31/16 in stock or index, including reinvestment of dividends. Fiscal year ending December 31.
Copyright© 2022 Standard & Poor’s, a division of S&P Global. All rights reserved.
Share Information
As of February 28, 2022
Issued and outstanding common shares 374,952,693
Potentially issuable common shares 119,640,656
Total outstanding and potentially issuable shares 494,593,349
ITEM 6. RESERVED
Not applicable.
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