Cronos Secures TSX Approval for US$50M Repurchase Program Covering 5% of Shares
CRON•Cronos Group received TSX approval to extend its normal course issuer bid, authorizing repurchases of up to US$50 million or 18,712,918 common shares (5.02% of outstanding) from June 19, 2026 to May 13, 2027. An Ontario Securities Commission exemption permits additional U.S. marketplace purchases up to 10% of public float.
1. TSX NCIB Extension
Cronos Group filed its notice with the Toronto Stock Exchange, which accepted its normal course issuer bid through May 13, 2027. The program authorizes repurchases of up to US$50 million or 18,712,918 common shares (5.02% of 373 million issued and outstanding) with a daily TSX limit of 53,968 shares.
2. Ontario Securities Commission Exemption
On June 15, 2026, Cronos obtained an exemption order from the Ontario Securities Commission allowing repurchases on U.S. trading systems beyond Canadian limits. This permits purchases up to the greater of 5% of outstanding shares or 10% of public float, as long as aggregate repurchases do not exceed the TSX-authorized total over the program’s 11-month term.
3. Repurchase Execution
Celadon Financial Group, LLC has been appointed as Cronos’s agent to repurchase shares, executing Canadian trades through Virtu Canada Corp on the TSX and alternative platforms. U.S. market purchases will occur on the Nasdaq Global Market or other U.S. venues at prevailing market prices or via privately negotiated transactions.
