Highlights

- Cronos Australia successfully lists on the ASX under the ticker code CAU 
- Cronos Australia raised AUD$20 million, offering 40 million shares at 
AUD$0.50 per share; with an indicative market cap of approximately AUD$64.4 
million 
- Cronos Australia aims to generate early revenue by importing and distributing 
PEACE NATURAL(TM) medicinal cannabis products whilst developing its own branded 
products 
- The vision of Cronos Australia is to become a leading health and wellness 
company in the Asia Pacific region through the distribution of premium cannabis 
products. 
- Cronos Australia was established as a 50:50 joint venture with global 
cannabinoid company Cronos Group Inc. ("Cronos Group") and NewSouthern Capital

Australian medicinal cannabis company Cronos Australia (ASX: CAU) has started 
trading on the Australian Securities Exchange, following a successful AUD$20 
million initial public offering (IPO) of shares. 

Cronos Australia raised AUD$20 million from institutional and sophisticated 
investors in October, offering 40 million shares at AUD$0.50 each. The 
Company's indicative market capitalisation at the close of the offer was 
approximately AUD$64.4 million.

Cronos Australia trades under the ASX ticker code of CAU.

"The ASX listing is a significant milestone in the life of Cronos Australia, 
and we look forward to delivering on our vision of being a leading health and 
wellness company in the Asia-Pacific Region through a portfolio of successful, 
premium cannabinoid brands and products," Shane Tanner, Chairman of Cronos 
Australia noted.

Cronos Australia is pursuing an asset-light business model under which the 
cultivation of medicinal cannabis and the manufacturing of medicinal cannabis 
products is expected to be outsourced to other companies both domestically and 
overseas.

Cronos Australia intends to import and sell Cronos Group's PEACE NATURALS(TM) 
medicinal cannabis products, which are sold in Canada and Germany.

Cronos Australia Chief Executive Officer, Rodney Cocks, said, "Cronos Australia 
is excited to join this fast-emerging sector as Australia's newest listed 
medical cannabis company. Our asset-light business model, backing of Cronos 
Group and Asia-Pacific focus give the Company a unique proposition in our 
market.

"We look forward to providing future updates to the market as the funds raised 
are deployed to accelerate the development and commercialisation of our 
portfolio of medicinal cannabis products."

Cronos Australia was established as a 50:50 joint venture between Cronos Group 
and NewSouthern Capital. After the issue of new shares, Cronos Group holds 
approximately 31 per cent of the issued capital of Cronos Australia.

Subject to the terms of an IP license agreement between Cronos Group and Cronos 
Australia, Cronos Australia has access to certain elements of Cronos Group's 
intellectual property.

The Australian market for medicinal cannabis is still in its early stages, 
reflecting complex legislation and regulation. However, patient access is 
expected to continue growing as legislation evolves and markets open. 

The IPO offer was fully underwritten by Lead Manager Bell Potter Securities 
Limited.

About Cronos Australia

Cronos Australia Limited was established as a 50:50 joint venture between 
global cannabinoid company Cronos Group Inc (dual-listed -- NASDAQ: CRON, TSX: 
CRON) and NewSouthern Capital. The Company was formed to accelerate growth and 
capture opportunities relating to the emerging cannabis industry both 
domestically and internationally. The vision of Cronos Australia is to become a 
leading health and wellness company in the Asia Pacific region through the 
distribution of premium cannabis products.

SOURCE Cronos Australia