Cronos Group has terminated its agreement with Future Farmco Canada for the sale and leaseback of its property located at 4491 Concession 12 Sunnidale Road, Stayner, Ontario, Canada, L0M 1S0 (the "Peace Naturals Campus").
According to Cronos, the buyer did not satisfy or waive its due diligence and financing condition by the May 27, 2024 deadline, as set forth in the Sale Agreement. All amounts paid by the Buyer as part of a security deposit that were previously held in trust have been returned, in accordance with the Sale Agreement. The Company is continuing to evaluate its strategic options for the Peace Naturals Campus, which may include continuing and expanding operations at the facility.
For more information:
Cronos Group
[email protected]
thecronosgroup.com