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 24, 2023, there were approximately 107 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 2023 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 58-month period beginning on February 27, 2018 and ending on December 31, 2022. The new peer group includes Aurora Cannabis Inc., Canopy Growth Corporation, Green Thumb Industries, Inc., HEXO Corporation, Organigram Holdings Inc., Tilray Inc., and Trulieve Cannabis Corp., (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 Aurora Cannabis Inc., Canopy Growth Corporation, Green Thumb Industries, Inc., HEXO Corporation, iAnthus Capital Holdings Inc., Organigram Holdings Inc., and Tilray Inc. (the “Old Peer Group”). iAnthus Capital Holdings Inc. was removed from the New Peer Group and replaced with Trulieve Cannabis Corp. to better align the New Peer Group, as iAnthus Capital Holdings Inc.’s share price has fallen to a nominal value.
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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 $ 111.22 $ 114.36
June 30, 2018 $ 85.56 $ 100.81 $ 121.53 $ 136.42
September 30, 2018 $ 145.93 $ 108.58 $ 190.41 $ 217.76
December 31, 2018 $ 136.35 $ 93.90 $ 98.39 $ 115.61
March 31, 2019 $ 241.86 $ 106.71 $ 145.34 $ 187.52
June 30, 2019 $ 209.71 $ 111.31 $ 124.13 $ 155.63
September 30, 2019 $ 118.77 $ 113.20 $ 70.99 $ 101.19
December 31, 2019 $ 100.66 $ 123.46 $ 55.09 $ 60.79
March 31, 2020 $ 74.41 $ 99.27 $ 32.45 $ 36.12
June 30, 2020 $ 78.87 $ 119.66 $ 37.99 $ 39.30
September 30, 2020 $ 65.75 $ 130.35 $ 33.33 $ 35.71
December 31, 2020 $ 91.08 $ 146.18 $ 58.43 $ 57.65
March 31, 2021 $ 124.15 $ 155.21 $ 80.99 $ 85.50
June 30, 2021 $ 112.86 $ 168.47 $ 70.52 $ 74.35
September 30, 2021 $ 74.28 $ 169.46 $ 47.25 $ 42.72
December 31, 2021 $ 51.44 $ 188.14 $ 32.67 $ 28.17
March 31, 2022 $ 51.05 $ 179.49 $ 29.70 $ 36.89
June 30, 2022 $ 37.01 $ 150.59 $ 11.66 $ 15.59
September 30, 2022 $ 37.01 $ 143.24 $ 11.13 $ 14.14
December 31, 2022 $ 33.33 $ 154.07 $ 9.00 $ 11.88
*$100 invested on 2/27/18 in stock or 2/28/18 in index, including reinvestment of dividends. Fiscal year ending December 31.
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ITEM 6. RESERVED
Not applicable.
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