VIT 4.88% 8.6¢ vitura health limited

Statement from Cronos on AGM Nominations from Ben Jansen

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    Check out Page 36 of the Notice of AGM, where there is a statement from Cronos (who are a Nasdaq company worth $1 billion US) outlining that they are not supporting the Ben Jansen nominations. Based on the math, there is zero chance of the nominations getting up, pretty embarrassing for the Jansens.

    Cronos are the third largest shareholder in Vitura, I think more than 10%, clearly smart people who have been in the industry a long time.

    Take a look - it's balanced, articulate and commercial.

    Statement from Cronos Global HoldingsInc., subsidiary of Cronos Group Inc. (NASDAQ : CRON, TSX : CRON) by MikeGorenstein, Cronos Group Chairman, President and CEO As the third largestshareholder in Vitura, we strongly support management and do not support the threedirector nominations proposed by a shareholder.

    Simply put, we believe Vitura isperforming well and executing against its strategy. We do not believe that therisk of disrupting that momentum via these nominations is in the best interestsof shareholders.

    I co-founded and currently serve as theChairman, President and CEO of Cronos Group – a leading global cannabinoidcompany. I also co-founded Gotham Green Partners – one of the largest private cannabisinvestment funds in the world. Cronos Group co-founded Cronos Australia, whichlater merged with CDA Health to form Vitura. I also previously served as adirector of Cronos Australia. The original idea for Cronos Australia wascreated in 2016 at a Wharton Business School Alumni event in Philadelphiabetween myself and my classmate and co-founder of Cronos Australia, RodneyCocks. We had a dream to obtain a cannabis license, build a company thatprovides medical patients with access to cannabis and create long term valuefor stakeholders by investing in and developing the Australian cannabis market.And while I believe Vitura is still in the early innings, having already achievedprofitability while maintaining rapid growth, I am pleased to see that dreambecoming a reality.

    I have the benefit of nearly a decade ofexperience operating and investing in the cannabis industry. The globalcannabis industry has tremendous upside and potential but comes with its manychallenges. What the team at Vitura has accomplished to date is nothing shortof exceptional. Their strategic vision, consistent growth, and operationalexecution has resulted in performance that is enviable in this industry.

    Vitura’s most recent financial results,which include year-on-year increase in revenue of +75% and +129% increase innet profit after tax demonstrate the dedication and success of the executiveteam. I believe the Vitura executive team is delivering long-term shareholdervalue by executing against their plan and growing the business with disciplineand diversification, exemplified by the recently announced acquisition ofDoctors on Demand.

    We understand that the reason for theproposed director nominations is the desire to “rejuvenate the share price.”Cannabis capital markets can be inefficient but over the long term, like anysector, share price follows performance, not the other way around. We believethat so long as Vitura continues to execute and drive fundamental financialperformance, it has increasing optionality to create value for shareholders,whether through continued organic and strategic growth or through continuedreturns of capital to shareholders.

    We implore all shareholders of Vitura tocarefully consider the risks around supporting the three director nominationsmade by a shareholder. We continue to be impressed by Vitura’s performance, andwe see no reason to change course now and risk that performance.

    About Cronos Group - (NASDAQ : CRON, TSX: CRON)

    Cronos is an innovative globalcannabinoid company committed to building disruptive intellectual property byadvancing cannabis research, technology and product development. With a passionto responsibly elevate the consumer experience, Cronos is building an iconicbrand portfolio. Cronos’ diverse international brand portfolio includesSpinach®, PEACE NATURALS®, and Lord Jones®.

 
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