Cronos to restate Q2 2021 financials; at least $220M impairment in U.S. reporting unit

Cronos Group Inc.

Previously issued unaudited interim financial statements for Q2 2021 should no longer be relied upon.
Impairment charge of not less than $220M on goodwill and indefinite-lived intangible assets in U.S. reporting unit.
Triggering events reassessed as of June 30, 2021; impairment should have been recorded in Q2 2021.
No other changes are anticipated beyond the impairment charge.
Company evaluating whether to record an additional impairment in Q3 2021.

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