Cronos Group Appoints James Holm as Chief Financial Officer

TORONTO, Nov. 14, 2022 (GLOBE NEWSWIRE) -- Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”), an innovative global cannabinoid company, today announced the appointment of James Holm as Chief Financial Officer, effective immediately. Mr. Holm succeeds Bob Madore, who is leaving the Company.

Mr. Holm brings to Cronos nearly two decades of finance and accounting experience at leading companies across industries. He most recently served as the Global Vice President of Finance Transformation at Vertiv, a global provider of critical digital infrastructure and continuity solutions, where he led the company’s centralization, standardization and optimization to a Global Shared Service hub for finance processes. Before joining Vertiv, Mr. Holm served as Finance Leader, Finance Solutions & Process Transformation Organization at Worldpay, one of the largest global payment processors. There he drove financial reporting accuracy, capabilities and enhancements across the company. Earlier in his career, he held multiple positions of increasing seniority in the finance department during his eight-year tenure at Procter and Gamble.

“James is a highly accomplished financial executive with diverse experience serving a variety of high growth companies across the technology, finance and consumer packaged goods industries,” said Mike Gorenstein, Chief Executive Officer of Cronos. “Not only does he bring deep financial acumen, but also, he is a strategic thinker with a proven track record of executing transformations and delivering results. We are pleased to welcome James to Cronos and are confident that he will contribute significantly to our strategic realignment plans and growth initiatives.”

Mr. Holm commented, "I am thrilled to join the Cronos team at this exciting time in its history. I look forward to working with Mike and the rest of the leadership team to further the Company’s margin expansion and revenue growth strategies while delivering enhanced value for the Company’s shareholders."

About James Holm

James Holm joins Cronos from Vertiv, where he most recently served as Global Vice President of Finance Transformation. Previously, James served as Americas Controller from September 2018 to February 2022. Prior to his roles at Vertiv, James served as Worldpay’s Finance Leader, Finance Solutions & Process Transformation Organization from May 2016 to September 2018. Before that, James served at Procter & Gamble in a variety of finance roles from September 2008 to March 2016. James is a Certified Public Accountant and Chartered Global Management Accountant who previously worked as an external auditor for PricewaterhouseCoopers where he worked on various public client engagements, some of which included Fortune 500 companies. He holds a Master of Business Administration (MBA) with a Finance concentration and Bachelor of Science in Business in Accounting and Finance, both from Wright State University.

About Cronos Group Inc.

Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach^®, PEACE NATURALS^®, Lord Jones^®, Happy Dance^® and PEACE+^®. For more information about Cronos and its brands, please visit: thecronosgroup.com.

Forward-looking Statements

This press release may contain information that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian and U.S. securities laws and court decisions (collectively, “Forward-looking Statements”). All information contained herein that is not clearly historical in nature may constitute Forward-looking Statements. In some cases, Forward-looking Statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the negative of these terms, or other similar expressions intended to identify Forward-looking Statements. Some of the Forward-looking Statements contained in this press release include statements about Mr. Holm’s anticipated contributions to the Company. Forward-looking Statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable by management, are inherently subject to significant business, economic and competitive risks, financial results, results, performance or achievements expressed or implied by those Forward-looking Statements and the Forward-looking Statements are not guarantees of future performance. A discussion of some of the material risks applicable to the Company can be found in the Company’s Annual Report on Form 10-K for the year ended December 31, 2021 and Quarterly Report on Form 10-Q for the period ended September 30, 2022, both have which been filed on SEDAR and EDGAR and can be accessed at and /edgar, respectively. Any Forward-looking Statement included in this press release is made as of the date of this press release and, except as required by law, Cronos disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.

For further information, please contact:

Shayne Laidlaw

Investor Relations

Tel: (416) 504-0004