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Cronos Australia in $200m cannabis IPO pitch

Medicinal cannabis hopeful Cronos Australia has launched an 11th hour run at the ASX-boards which could see the company list this side of Christmas with up to a $200 million market capitalisation.

Street Talk understands Cronos Australia is in front of potential investors seeking support for the mooted initial public offering, and has hired stockbroker Canaccord Genuity to help sell the deal. 

Cronos Australia has told potential investors it wants to become the country's leading producer, distributor and exporter of premium medicinal cannabis. 

The company expects to be producing cannabis from its "local cultivation and manufacturing facility" near Daylesford, Victoria, from 2020, and plans to import cannabis from Canada in the meantime. 
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