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Cronos Australia is a medicinal cannabis company that plans to enter the medicinal cannabis market in Australia with both THC and CBD products, and has secured all the necessary Australian licences to operate – including import and export licences. In addition to distributing the in-market brand PEACE NATURALS™, which is sold in Canada and Germany, Cronos Australia intends to also engage in innovative product and brand development, outsourced manufacturing and distribution for Australia and target export markets (subject to legislative reform in those markets and Cronos Australia obtaining any required approvals and licences).
Cronos Australia was established as a 50/50 joint venture between a global cannabinoid company, Cronos Group Inc (dual listed – NASDAQ:CRON, TSX:CRON – with a market capitalisation of A$4.53bn) and a Melbourne-based private equity firm controlled by the two Executive Directors of Cronos Australia
It is anticipated that CAU will list on the ASX during November 2019.