Cronus Corporation (NASDAQ: CRON) reported Q4 revenue for the quarter came in at $1.6 million.

• Q4 2017 sales of $1.6 million, up 274% year over year
• FY 2017 sales of $4.1 million, up 636% year over year
• Peace Naturals greenhouse construction complete and facility operational

Fiscal Year 2017 Highlights

• Sales increased by $3.5 million, or 636%, to $4.1 million in FY 2017.
• The Company completed significant improvements to the three pre-existing indoor production facilities at Peace Naturals Project Inc. ("Peace Naturals"), to increase production capacity and efficiency. These facilities are now fully operational. Construction of building 4, a 286,000 sq. ft. production facility, remains on schedule and production is expected to commence in the second half of 2018.
• Launched a strategic joint venture in Israel ("Cronos Israel"), with Israeli agricultural collective settlement Kibbutz Gan Shmuel ("Gan Shmuel") to produce and distribute medical cannabis. Israel has an ideal growing climate for cannabis with abundant sunlight to support year-round greenhouse cultivation without the need for supplemental flower lighting. Cronos Israel anticipates producing high quality cannabis at significantly lower production costs than in Canada due to Israel's favorable climate and Gan Shmuel's skilled labor force, existing manufacturing infrastructure, and ample on-site water access.
• Began distributing medicinal cannabis through G. Pohl-Boskamp GmbH & Co. KG ("Pohl-Boskamp"), an established European pharmaceutical manufacturer and distributor. Under the five-year exclusive agreement, Cronos Group will continue to distribute Peace Naturals branded cannabis products through Pohl-Boskamp's network of pharmacies in Germany.
• Initiated a rebrand of Peace Naturals, which included new proprietary packaging, an evolution of the brand's logo, new marketing materials, a revised website, a new shopping portal experience, and new products such as strain specific oils and limited edition cultivars. Peace Naturals also established a new classification system for products, which helped educate patients on key product differences.
• Launched Peace Naturals strain-specific cannabis oils that have been received favorably by patients. Unlike most alternatives on the market, these new cannabis oils do not require any secondary refinement with harsh solvents like ethanol, which means that the natural balance of the plant is kept intact. This is important because of the "entourage effect," or the concept that all cannabis compounds work together synergistically to yield the desired therapeutic effect.
• Strengthened liquidity by $89.6mm, including a $40.0mm senior secured credit facility and $49.6mm in gross proceeds from three common share offerings.

For earnings history and earnings-related data on Cronus Corporation (CRON) click here.