Cronos announces appointment of ATB Cormark as its broker for share repurchases in Canada

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) has appointed ATB Cormark as its broker for share repurchases in Canada under its ongoing normal course issuer bid (NCIB) program. The company announced the appointment as part of its broader share repurchase initiative, which commenced on May 14, 2026, and is expected to conclude on May 13, 2027, unless terminated earlier. The repurchase program allows Cronos to purchase up to US$50 million of its common shares, with 18,712,918 shares representing approximately 5.02% of its issued and outstanding shares as of June 1, 2026.

Under the TSX NCIB, Cronos may repurchase up to 53,968 of its common shares on the Toronto Stock Exchange during any trading day, representing 25% of the average daily trading volume over the six months ended May 31, 2026. Repurchases will be executed through Virtu Canada Corp. and will be conducted in accordance with TSX rules and policies.

The appointment of ATB Cormark follows ATB Financial’s acquisition of Cormark Securities Inc., a Canadian independent investment bank with offices in Toronto and Calgary. The acquisition is expected to close, pending regulatory approvals. ATB Cormark brings expertise in institutional sales, trading, and equity research, which aligns with optimize its capital structure and enhance shareholder value.

Cronos also obtained an exemption from the Ontario Securities Commission to repurchase shares on U.S. marketplaces in excess of standard limits, provided that total repurchases remain within the approved threshold. The company’s repurchase program is being managed by Celadon Financial Group, LLC, which has been appointed as its agent for the transaction.

This move underscores Cronos’ commitment to capital efficiency and strategic shareholder returns amid evolving market conditions.