Cronos to produce cannabinoids with Ginkgo Bioworks; shares up 13%

|About: Cronos Group Inc. (CRON)|By:, SA News Editor

Cronos Group (CRON +13.3%) is up on almost triple normal volume on the heels of its partnership with Ginkgo Bioworks to produce cultured cannabinoids leveraging the latter's platform technology for organism design and development.

Under the terms of the agreement, CRON has agreed to issue shares of common stock in tranches triggered by Ginkgo's achievement of certain production milestones. Specific financial terms are not disclosed.

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