Cronos Group (NASDAQ: CRON) has been chomping at the bit to get into the U.S. market. And that’s evident even from its financials. Although the company makes the bulk of its money in Canada, it includes that in its “rest of world” segment. The company has been launching hemp-based products in the U.S. for the sake of penetrating the market. And it is also working on developing low-cost cannabis products that could make it a big player in the industry.
Its latest move involves the option to acquire a 10.5% stake in U.S.-based cannabis operator PharmaCann. Although it can’t integrate the business into its operations today, it can position Cronos for some great opportunities once the market opens up for Canadian cannabis companies.
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