2 unchanged sentences
Securities Trading Plans of Directors and Executive Officers
−Removed: During the three months ended June 30, 2023, no directors or executive officers entered into , modified or terminated , contracts, instructions or written plans for the sale or purchase of the Company’s securities that were intended to satisfy the affirmative defense conditions of Rule 10b5-1.
+Added: During the three months ended September 30, 2023, no directors or executive officers entered into , modified or terminated , contracts, instructions or written plans for the sale or purchase of the Company’s securities that were intended to satisfy the affirmative defense conditions of Rule 10b5-1 or that constituted non-Rule 10b5-1 trading arrangements (as defined in Item 408(c) of Regulation S-K).
Certain of our officers or directors have made, and may from time to time make, elections to have shares withheld to cover withholding taxes or pay the exercise price of options, which may be designed to satisfy the affirmative defense conditions of Rule 10b5-1 under the Exchange Act or may constitute non-Rule 10b5–1 trading arrangements (as defined in Item 408(c) of Regulation S-K).
−Removed: Item 2.05 Costs Associated with Exit or Disposal Activities.
−Removed: On August 4, 2023, the Company’s Board of Directors (the “Board”) approved plans to wind-down operations at its Winnipeg, Manitoba facility (“Cronos Fermentation”), and list the Cronos Fermentation facility for sale.
−Removed: The Company expects to incur approximately $1.2 million in restructuring costs associated with the exit of Cronos Fermentation facility.
−Removed: These charges include employee-related costs such as severance, relocation and other termination benefits, as well as contract termination and other related costs, which are expected to be incurred primarily in the second half of 2023, but do not include any impairment charges to property, plant or equipment.
−Removed: These anticipated charges are subject to a number of assumptions, including the ability to wind down Cronos Fermentation efficiently and effectively, the length of the sales process, the bids received in the sale process, market factors and others.
−Removed: As a result of these assumptions, actual results may differ materially.
−Removed: The Company cannot, at this time, quantify the impairment charges, if any, to long-lived assets associated with the wind-down of Cronos Fermentation.
−Removed: Also on August 4, 2023, the Board approved additional organization-wide cost reductions.
−Removed: Expected restructuring costs of approximately $2.0 million, with the majority expected to be incurred in the second half of 2023, include mostly one-time employee-related severance charges.
−Removed: These anticipated costs are subject to a number of assumptions, including the ability of the Company to
−Removed: effectively and efficiently further streamline operations, the number of employee reductions, the timing of employee reductions, the level of the Company’s operations, market factors and others.
−Removed: As a result of these assumptions, actual results may differ materially.
−Removed: Item 2.06 Material Impairments.
−Removed: The information disclosed above under Item 2.05 is hereby incorporated by reference.
−Removed: The Company cannot, at this time, quantify the impairment charges, if any, to long-lived assets associated with the wind-down of Cronos Fermentation.
The exhibits listed in the Exhibit Index immediately below are filed as part of this Quarterly Report, which Exhibit Index is corporate by reference herein.
21 unchanged sentences
Chief Financial Officer
−Removed: August 8, 2023
+Added: November 8, 2023
/s/ Jimmy McGinness
1 unchanged sentence
Vice President, Controller, and Principal Accounting Officer
−Removed: August 8, 2023
+Added: November 8, 2023
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.