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CAU - CRONOS AUSTRALIA LIMITED


nipper
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Cronos Australia Ltd (CAU) is a company within the Health Care sector listed on the ASX. It has entered the medicinal cannabis market in Australia with both THC and CBD products. Cronos Australia is committed to providing Australian patients access to the quality medicinal cannabis products, as well as supplying export markets globally. Cronos Australia has secured all the necessary Australian licences to operate ... including import and export licences.

It listed on the ASX Nov 2019, opening around 40c but fell away to be 10c by Mar 2020, where shares bounced along the bottom until Sept.

13 Sept: Rose over a few days from 11c to 20c on news: Cronos Australia has executed a Merger Implementation Agreement to acquire 100% of the issued share capital of Queensland based medicinal cannabis company CDA Health Pty Ltd. According to the announcement, CDA has seen rapid growth over the last two financial years generating over $21 million in sales for FY2021 and generating a profit.

Quote

CDA is operationally profitable with around 30 million in annual revenue, 3 clinics at Brisbane the Gold Coast and Maroochydore, 80 staff and a busy online wholesale channel CanView.  ... according to one blog

Nov: CDA Clinics voted Best, exceptional, or unique service based organisation for the 3rd year in a row at the Australian Cannabis Industry Awards

and yesterday/ today, jumped from 22c to 32c on no news.  Expect a ASX Query?

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  • nipper changed the title to CAU - CRONOS AUSTRALIA LIMITED

1. Not Aware

2. Not Applicable

3. We note that on Thursday, 16 December 2021 the Company announced the successful completion of the merger between the Company and CDA Health Pty Ltd.   As announced previously, the Company believes that the Merger will provide a material increase in both size and scale of its operations and a route to early profitability for the integrated group.  The prominent position already held by CDA in the Australian medicinal cannabis industry, when added to the existing operations and strategic opportunities, should deliver synergistic benefits for the integrated group where the combined value exceeds the sum of its parts. We believe the potential benefits to the Company from completing the Merger may have contributed to the recent increase in the Company’s share price and trading volumes

4. In Compliance

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