Cronos Group Gains Ground on Potential Transaction, Gorilla Technology Seals $270M+ 3Y-Deal
- July 06th, 2023
- 245 views
Shares of Cronos Group Inc. (Nasdaq: CRON) experienced a surge of over 5% in the extended session after confirming receipt of several unsolicited indications of interest from third parties, signaling potential transactions involving Cronos and these parties.
Cronos is currently in the initial stages of reviewing these indications of interest. However, there is no guarantee that any agreement or transaction will materialize from these discussions.
In after-hours, $CRON was trading at $1.99, reflecting an increase of $0.11 or 5.85%, subsequent to the announcement.
In other news, Gorilla Technology Group Inc. (Nasdaq: GRRR) has announced a significant contract with the Government of Egypt for the implementation of a Smart Government Security Convergence solution. This contract is valued at over $270 million and will span a period of three years. It represents the largest customer win in Gorilla's history and marks a significant milestone in the company's globalization strategy. With this achievement, Gorilla is on track to achieve profitability by the end of 2024.
$GRRR is currently trading at $2.85, up $0.76 or 36.36% in after-hours.
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