Cura Goes International with Cronos Group Inc.

Published: August 9, 2018

Cura Goes International with Cronos Group Inc.

Cronos Group Inc. has entered into a supply agreement with one of the largest cannabis companies in the world by revenue in the first quarter of 2018, Cura Select Canada, Ltd. with hopes to be the leading provider of premium cannabis oil and hemp oil to the legal U.S. and international markets, and will enter the Canadian market to supply domestic and international channels through this agreement.

Cura is widely respected in the industry for the methodology and innovation of its extraction techniques and its focus on setting standards for quality products across the industry. Cura has pioneered a highly refined system that fulfills a scalability and quality need unique to a company of this size, with an ability to produce one million grams of oil per month at each of its facilities. The company is known for its Select Oil and Select CBD brands and offers a variety of white label products with emerging regionally-based and celebrity brands. Cura believes that the ongoing legalization of cannabis embodies an emerging world where everything is possible, and attributes much of its success to its world-class team of experts. It has expanded from a small group of loyal employees in 2015, to a team of more than 350 across four U.S. states and now Canada. The company’s growth continues along with its brand Select, which has held its place as the best-selling cannabis brand on the West Coast since October 2017 (WA/OR/CA, according to BDS Analytics).

The Company has signed a five-year take-or-pay supply agreement to purchase a minimum of 20,000 kilograms of cannabis per annum from Cronos Growing Company Inc. (“Cronos GrowCo”). Cura expects to build its proprietary, state-of-the-art extraction facility on a parcel of land owned by Original BC (“OGBC”) in the heart of Okanagan Valley, British Columbia. Given the commitment that both companies have to providing consumers with the best product quality, Cronos will be selecting and cultivating ideal strains for Cura’s extraction methodology. The new facility is intended to serve as Cura’s hub for the Canadian and international market.

“We are thrilled to be partnering with one of the cannabis industry leaders in extraction technology and value added products,” said Mike Gorenstein, CEO of Cronos Group. “This supply agreement is the start to a synergistic collaboration for our newly created entity Cronos GrowCo and through the structure with Cura, is the type of creative and forward thinking partnership that is at the core of industry leading infrastructure that Cronos seeks to establish.”

“Cura’s partnership with Cronos marks a significant step in our mission to be the leading provider of cannabis oil to legal U.S. and international markets,” remarked Cameron Forni, founder, president and chief executive officer at Cura. “We’re thrilled to work with Cronos to continue our focus on delivering quality-assured, pesticide-free cannabis oil and manufacturing innovative, safe consumer products for the Canadian market and beyond.”