May 14, 2019 / 7:28 PM / 5 months ago

BUZZ-Cronos Group high on cannabis concentrate supply deal with MediPharm Labs

** Shares of Canadian marijuana company Cronos Group Inc up 7.1% at C$20.73 in extended trading

** Co entered a multi-year supply agreement with MediPharm Labs Corp

** MediPharm Labs will supply Cronos with ~C$30 mln of cannabis concentrate over 18-months, or up to C$60 mln over 24-months based on certain conditions

** Co and Medipharm have also entered a 2-year tolling agreement where CRON will supply bulk cannabis to MediPharm Labs’ in Ontario for processing

** Shares of other pot firms rise; Aurora Cannabis by 4.4%, Canopy Growth 3.5% and Tilray 3.2%

** CRON stock up ~43% YTD (Reporting By Arundhati Sarkar in Bengaluru)

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