The Cronos Group Announces Closing of Assets Sale

  
    
  
  
    
      The Cronos Group (Nasdaq:CRNS) announced today that its shareholders had 
      approved the Asset Purchase Agreement by and among Cronos and CRX 
      Acquisition Ltd. (“CRX”) 
      and FB Transportation Capital LLC, and related matters. Shareholders 
      owning 81% of Cronos’ outstanding shares voted 
      in favor of the transaction proposals. Of those shareholders voting, 
      holders of 99% of the shares voted in favor of the transaction 
      proposals. Closing of the assets sale occurred promptly after the 
      conclusion of the meeting of shareholders in Luxembourg. Cronos sold all 
      of its assets to CRX for a cash payment of $133,679,640 and CRX assumed 
      all of Cronos’ liabilities. From the proceeds 
      of sale, Cronos will now proceed to make a liquidating distribution to 
      each of its shareholders in the amount of $16.00 per share, without 
      interest.
    
    
      Cronos’ shareholders also approved a change in 
      Cronos’ name to “CRG 
      Liquidation Company.”
    
    
      Cronos has requested that trading in its common shares be suspended, 
      effective market close this date.