cronos group inc cron is exploring options that could include a potential sale after attracting acquisition interest reported reuters citing people familiar with the matter the canadian cannabis producer backed by cigarette maker altria group inc mo has a market value of c972 million 72754 million is purportedly working with a financial adviser to handle expressions of interest in a deal from other companies including curaleaf holdings inc curlf the sources said per reuters sources requested anonymity as the discussions underway are confidential they cautioned that no transaction is certain no comments all around cronos and curaleaf also declined to comment spokespeople for altria did not immediately respond to a request for comment the sale talks involving cronos highlighted the outlet come at a time of uncertainty for the cannabis industry “as more favorable regulatory regimes in north america have fueled fierce competition among a growing field of companies” lack of fed weed legality in us constant obstacle with adultuse cannabis legal in 23 us states and medical marijuana pushing 40 marijuana remains federally illegal under the controlled substance act pressure on the biden administration to decriminalize weed mounts as primaries heat up meanwhile lawmakers on both sides of the aisle are pushing for cannabis banking reform which would give the booming weed industry access to banking services which it sorely lacks the secure and fair enforcement banking act safe initially proposed in 2013 and introduced several times again since then would also protect cannabis businesses from having much cash on hand leaving them vulnerable to robberies or worse cannabis shares plummet nearly across the board prior to thursday’s speculation cronos’ shares had lost a quarter of their value yeartodate for the first quarter cronos posted a net loss of 193 million compared with a loss of 327 million a year ago net revenue declined 20 to 201 million cronos has total cash including shortterm investments of about 83643 million according to its firstquarter report altria which currently holds a 41 stake in cronos invested 18 billion in the company in 2019 at the time of this writing thursday afternoon cronos shares were trading down 332 at