Cronos Group Inc. (NASDAQ: CRON) announced on July 18th it has entered into a partnership agreement with a group of investors. The investment group is spearheaded by Bert Mucci of the Greenhouse Partners. The Greenhouse Partners is a leading greenhouse operator and builder in Canada.
Through a new entity, Cronos Growing Company Inc. (Cronos GrowCo), and will construct a technologically advanced greenhouse for cannabis cultivation in Ontario.
The Cronos GrowCo partnership with the Greenhouse Partners is 50/50. The two companies will utilize the three decades of experience that Bert Mucci holds in greenhouse design. The current design plans are for an 850,000 sq. ft. facility on an estimated 100 acres of land.