Cronos Group Inc. Announces Second Quarter and First-Half 2019 Results

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="In May 2019, Cronos Group established Cronos Device Labs, a global research and development (“R&amp;D”) center for vaporizer innovation. Cronos Device Labs’ advanced facility is based in Israel, a leader in cannabis R&amp;D, and supports Cronos Group’s efforts to develop next-generation vaporizer products that are designed specifically for cannabinoid applications.” data-reactid=”42″>In May 2019, Cronos Group established Cronos Device Labs, a global research and development (“R&D”) center for vaporizer innovation. Cronos Device Labs’ advanced facility is based in Israel, a leader in cannabis R&D, and supports Cronos Group’s efforts to develop next-generation vaporizer products that are designed specifically for cannabinoid applications.

Cronos Device Labs, which is equipped with an experienced team of product development talent, advanced vaporizer technology and analytical testing infrastructure, serves as the global center of R&D for the Company’s vaporizer devices.

The 23-member team at Cronos Device Labs, which brings to Cronos Group over 80 years of combined expertise in vaporizer development, is comprised of product designers, mechanical, electrical and software engineers, and analytical and formulation scientists. Cronos Device Labs significantly enhances Cronos Group’s technology and development capabilities and is expected to enable the Company to deliver expanded product offerings to customers that are specially tailored to cannabinoid use.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Subsequent to the end of the second quarter, Cronos Group closed the previously announced acquisition of an 84,000 square foot GMP compliant fermentation and manufacturing facility in Winnipeg, Manitoba from Apotex Fermentation Inc. (“AFI”) on July 31, 2019. The state-of-the-art facility, which will operate as “Cronos Fermentation”, includes fully equipped laboratories covering microbiology, organic and analytical chemistry, quality control and method development as well as two large scale microbial fermentation production areas with a combined production capacity of 102,000L, three downstream processing plants, and bulk product and packaging capabilities.” data-reactid=”45″>Subsequent to the end of the second quarter, Cronos Group closed the previously announced acquisition of an 84,000 square foot GMP compliant fermentation and manufacturing facility in Winnipeg, Manitoba from Apotex Fermentation Inc. (“AFI”) on July 31, 2019. The state-of-the-art facility, which will operate as “Cronos Fermentation”, includes fully equipped laboratories covering microbiology, organic and analytical chemistry, quality control and method development as well as two large scale microbial fermentation production areas with a combined production capacity of 102,000L, three downstream processing plants, and bulk product and packaging capabilities.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The acquisition was funded using existing cash on hand and is expected to provide the fermentation and manufacturing capabilities the Company needs in order to capitalize on the progress underway with Ginkgo Bioworks, Inc. (“Ginkgo Bioworks”). The Ginkgo Bioworks partnership aims to bring innovation and biological manufacturing to the cannabis industry, which would allow for cannabinoid production at large scale and with greater efficiency compared to traditional cultivation and extraction. Commercial production at the facility is subject to completion of the equipment alignment for cannabinoid-based production, the receipt of the appropriate licenses from Health Canada to produce cultured cannabinoids under the Cannabis Act (Canada) and the achievement of certain milestones under the strategic partnership with Ginkgo Bioworks.” data-reactid=”46″>The acquisition was funded using existing cash on hand and is expected to provide the fermentation and manufacturing capabilities the Company needs in order to capitalize on the progress underway with Ginkgo Bioworks, Inc. (“Ginkgo Bioworks”). The Ginkgo Bioworks partnership aims to bring innovation and biological manufacturing to the cannabis industry, which would allow for cannabinoid production at large scale and with greater efficiency compared to traditional cultivation and extraction. Commercial production at the facility is subject to completion of the equipment alignment for cannabinoid-based production, the receipt of the appropriate licenses from Health Canada to produce cultured cannabinoids under the Cannabis Act (Canada) and the achievement of certain milestones under the strategic partnership with Ginkgo Bioworks.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Brand Portfolio” data-reactid=”47″>Brand Portfolio

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Subsequent to the end of the second quarter, Cronos Group entered into a definitive agreement to acquire four of Redwood Holding Group, LLC’s operating subsidiaries (collectively, “Redwood”). Redwood manufactures, markets and distributes hemp-derived CBD infused skincare and other consumer products online and through retail and hospitality partner channels in the United States under the Lord Jones™ brand. Redwood’s products use pure hemp oil that contains natural phytocannabinoids and terpenes found in the plant.” data-reactid=”48″>Subsequent to the end of the second quarter, Cronos Group entered into a definitive agreement to acquire four of Redwood Holding Group, LLC’s operating subsidiaries (collectively, “Redwood”). Redwood manufactures, markets and distributes hemp-derived CBD infused skincare and other consumer products online and through retail and hospitality partner channels in the United States under the Lord Jones™ brand. Redwood’s products use pure hemp oil that contains natural phytocannabinoids and terpenes found in the plant.

Under the terms of the agreement, Cronos Group will acquire Redwood for approximately US$300 million, net of Redwood’s estimated cash and debt and subject to a customary working capital adjustment. US$225 million of the total consideration (subject to the foregoing adjustments) will be paid in cash with the balance paid in newly issued Cronos Group common shares. Cronos Group will fund the cash portion of the transaction with cash on hand. The acquisition is expected to close in the third quarter of 2019, subject to customary closing conditions and regulatory approvals.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Conference Call ” data-reactid=”50″>Conference Call

The Company will host a conference call and live audio webcast on Thursday, August 8, 2019 at 8:30 a.m. EST to discuss second quarter 2019 results. The call will last approximately one hour. Instructions for the conference call are provided below:

An audio replay of the call will be archived on the Company’s website for replay.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="About Cronos Group” data-reactid=”58″>About Cronos Group

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Cronos Group is an innovative global cannabinoid company with international production and distribution across five continents.&nbsp;Cronos Group is committed to building disruptive intellectual&nbsp;property&nbsp;by advancing&nbsp;cannabis research, technology and&nbsp;product development.&nbsp;With a passion to&nbsp;responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio.&nbsp;Cronos Group’s portfolio includes PEACE NATURALS™,&nbsp;a global health and wellness platform,&nbsp;and&nbsp;two adult-use brands COVE™ and Spinach™.&nbsp;To learn more about Cronos Group and its brands, please visit: www.thecronosgroup.com;&nbsp;www.peacenaturals.com; www.covecannabis.ca; www.spinachcannabis.com.” data-reactid=”59″>Cronos Group is an innovative global cannabinoid company with international production and distribution across five continents. Cronos Group is committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos Group is building an iconic brand portfolio. Cronos Group’s portfolio includes PEACE NATURALS™, a global health and wellness platform, and two adult-use brands COVE™ and Spinach™. To learn more about Cronos Group and its brands, please visit: www.thecronosgroup.com; www.peacenaturals.com; www.covecannabis.ca; www.spinachcannabis.com.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Forward-looking statements
This press release contains "forward-looking information" and "forward-looking statements" within the meaning of applicable securities laws (collectively, "forward-looking statements"), which are based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs. All information contained herein that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe”, or other similar words, expressions, phrases, including negative and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of historical fact. Forward-looking statements are provided for the purposes of assisting the reader in understanding our financial performance, financial position and cash flows as at and for periods ended on certain dates and to present information about management’s current expectations and plans relating to the future and the reader is cautioned that such information may not be appropriate for any other purpose. Some of the forward-looking statements contained in this press release, include, but are not limited to, statements with respect to: the anticipated benefits of our joint ventures, strategic alliances, research and development initiatives, acquisitions and other commercial arrangements, including the ability to produce and distribute the target cannabinoids under our strategic partnership with Ginkgo Bioworks, Inc., the ability to build innovative vaporizer products and expand product offerings through Cronos Device Labs and the ability to further create and scale hemp-derived consumer products through the Company’s acquisition of Redwood; expectations regarding the Company’s acquisition of Redwood, including anticipated timing of closing of the acquisition and the anticipated benefits therefrom; our ability to execute on our growth strategy, including the construction of production facilities and the commencement of operations by our joint ventures and the timing thereof; the ability of Cronos Group, our joint ventures, strategic partners and commercial counterparties to obtain all necessary licenses, permits and approvals; our ability to expand our distribution network and global footprint; our business and operations; our strategy for future growth; our intention to build an international iconic brand portfolio and develop disruptive intellectual property; and the growth potential of the cannabis industry and our ability to realize such opportunity. No forward-looking statement can be guaranteed and Cronos Group cannot guarantee the forward-looking statements contained herein. Forward-looking statements are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking statements in this press release. Such factors include, without limitation, those discussed in the Company’s most recent management’s discussion and analysis and the Company’s annual information form for the year ended December 31, 2018, both of which have been filed on the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and are based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking statements are made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking statements, except as required by applicable law.” data-reactid=”60″>Forward-looking statements
This press release contains “forward-looking information” and “forward-looking statements” within the meaning of applicable securities laws (collectively, “forward-looking statements”), which are based on the Company’s current internal expectations, estimates, projections, assumptions and beliefs. All information contained herein that is not clearly historical in nature may constitute forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terminology such as “may”, “will”, “expect”, “likely”, “should”, “would”, “plan”, “anticipate”, “intend”, “potential”, “proposed”, “estimate”, “believe”, or other similar words, expressions, phrases, including negative and grammatical variations thereof, or statements that certain events or conditions “may” or “will” happen, or by discussions of strategy. Forward-looking statements include estimates, plans, expectations, opinions, forecasts, projections, targets, guidance or other statements that are not statements of historical fact. Forward-looking statements are provided for the purposes of assisting the reader in understanding our financial performance, financial position and cash flows as at and for periods ended on certain dates and to present information about management’s current expectations and plans relating to the future and the reader is cautioned that such information may not be appropriate for any other purpose. Some of the forward-looking statements contained in this press release, include, but are not limited to, statements with respect to: the anticipated benefits of our joint ventures, strategic alliances, research and development initiatives, acquisitions and other commercial arrangements, including the ability to produce and distribute the target cannabinoids under our strategic partnership with Ginkgo Bioworks, Inc., the ability to build innovative vaporizer products and expand product offerings through Cronos Device Labs and the ability to further create and scale hemp-derived consumer products through the Company’s acquisition of Redwood; expectations regarding the Company’s acquisition of Redwood, including anticipated timing of closing of the acquisition and the anticipated benefits therefrom; our ability to execute on our growth strategy, including the construction of production facilities and the commencement of operations by our joint ventures and the timing thereof; the ability of Cronos Group, our joint ventures, strategic partners and commercial counterparties to obtain all necessary licenses, permits and approvals; our ability to expand our distribution network and global footprint; our business and operations; our strategy for future growth; our intention to build an international iconic brand portfolio and develop disruptive intellectual property; and the growth potential of the cannabis industry and our ability to realize such opportunity. No forward-looking statement can be guaranteed and Cronos Group cannot guarantee the forward-looking statements contained herein. Forward-looking statements are based upon certain material assumptions that were applied in drawing a conclusion or making a forecast or projection, including management’s perceptions of historical trends, current conditions and expected future developments, as well as other considerations that are believed to be appropriate in the circumstances. While we consider these assumptions to be reasonable based on information currently available to management, there is no assurance that such expectations will prove to be correct. By their nature, forward-looking statements are subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, strategic goals and priorities will not be achieved. A variety of factors, including known and unknown risks, many of which are beyond our control, could cause actual results to differ materially from the forward-looking statements in this press release. Such factors include, without limitation, those discussed in the Company’s most recent management’s discussion and analysis and the Company’s annual information form for the year ended December 31, 2018, both of which have been filed on the Company’s profile on SEDAR at www.sedar.com and on EDGAR at www.sec.gov. Readers are cautioned to consider these and other factors, uncertainties and potential events carefully and not to put undue reliance on forward-looking statements. Forward-looking statements contained herein are made as of the date of this press release and are based on the beliefs, estimates, expectations and opinions of management on the date such forward-looking statements are made. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking statements, except as required by applicable law.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="All references in this press release to “dollars”, “C$” or “$” are to Canadian dollars and all references to “US$” are to United States dollars.
&nbsp;&nbsp;” data-reactid=”61″>All references in this press release to “dollars”, “C$” or “$” are to Canadian dollars and all references to “US$” are to United States dollars.
  

  

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Non-IFRS Measures” data-reactid=”71″>Non-IFRS Measures

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="The Company uses certain measures that are not recognized under International Financial Reporting Standards (“IFRS”), do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as a supplement to those IFRS measures to provide additional information regarding the Company’s results of operations from management’s perspective. Accordingly, non-IFRS measures should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS. Each non-IFRS measure is reconciled to its most directly comparable IFRS measure.” data-reactid=”72″>The Company uses certain measures that are not recognized under International Financial Reporting Standards (“IFRS”), do not have any standardized meaning prescribed by IFRS and therefore may not be comparable to similar measures presented by other companies. Rather, these measures are provided as a supplement to those IFRS measures to provide additional information regarding the Company’s results of operations from management’s perspective. Accordingly, non-IFRS measures should not be considered a substitute for, or superior to, the financial information prepared and presented in accordance with IFRS. Each non-IFRS measure is reconciled to its most directly comparable IFRS measure.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Adjusted EBIT
Adjusted earnings before interest and tax (“Adjusted EBIT”) is used by management as a supplemental measure to review and assess operating performance and trends on a comparable basis. Adjusted EBIT is defined as net income or loss, excluding interest expense, interest income, deferred income tax expense or recovery, share-based payments, unrealized change in the fair value of biological assets, realized fair value adjustments on inventory sold, financing costs, gain on revaluation of derivative liabilities, share of income or loss from investments in equity accounted investees and gain or loss on investments. The Company believes that Adjusted EBIT is useful to compare its operating profitability across periods.” data-reactid=”73″>Adjusted EBIT
Adjusted earnings before interest and tax (“Adjusted EBIT”) is used by management as a supplemental measure to review and assess operating performance and trends on a comparable basis. Adjusted EBIT is defined as net income or loss, excluding interest expense, interest income, deferred income tax expense or recovery, share-based payments, unrealized change in the fair value of biological assets, realized fair value adjustments on inventory sold, financing costs, gain on revaluation of derivative liabilities, share of income or loss from investments in equity accounted investees and gain or loss on investments. The Company believes that Adjusted EBIT is useful to compare its operating profitability across periods.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Adjusted EBITDA
Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”) is used by management as a supplemental measure to review and assess operating performance and trends on a comparable basis. Adjusted EBITDA is defined as Adjusted EBIT excluding depreciation and amortization. The Company believes that Adjusted EBITDA is useful to compare its ability to generate cash from operations across periods.” data-reactid=”74″>Adjusted EBITDA
Adjusted earnings before interest, tax, depreciation and amortization (“Adjusted EBITDA”) is used by management as a supplemental measure to review and assess operating performance and trends on a comparable basis. Adjusted EBITDA is defined as Adjusted EBIT excluding depreciation and amortization. The Company believes that Adjusted EBITDA is useful to compare its ability to generate cash from operations across periods.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="Reconciliation of non-IFRS measures
A reconciliation of Adjusted EBIT and Adjusted EBITDA to net income, the most directly comparable IFRS measure, is presented in the following table.” data-reactid=”75″>Reconciliation of non-IFRS measures
A reconciliation of Adjusted EBIT and Adjusted EBITDA to net income, the most directly comparable IFRS measure, is presented in the following table.

<p class="canvas-atom canvas-text Mb(1.0em) Mb(0)–sm Mt(0.8em)–sm" type="text" content="For further information, please contact:
Anna Shlimak
Investor Relations
Tel: (416) 504-0004
[email protected]” data-reactid=”78″>For further information, please contact:
Anna Shlimak
Investor Relations
Tel: (416) 504-0004
[email protected]

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border-bottom: solid black 1.0pt; padding-left: 25.0px;} td.gnw_label_uline_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 30.0px;} td.gnw_label_dline_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 10.0px;} td.gnw_label_dline_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 15.0px;} td.gnw_label_dline_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 20.0px;} td.gnw_label_dline_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 25.0px;} td.gnw_label_dline_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 30.0px;} td.gnw_label_ulinetop {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-top: solid black 1.0pt;} td.gnw_label_dline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt;} td.gnw_label_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 10.0px;} td.gnw_label_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 15.0px;} td.gnw_label_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 20.0px;} td.gnw_label_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 25.0px;} td.gnw_label_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 30.0px;} td.gnw_num {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important;} td.gnw_num_uline {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-bottom: solid black 1.0pt;} td.gnw_num_ulinetop {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-top: solid black 1.0pt;} td.gnw_num_dline {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-bottom: double black 2.5pt;} td.gnw_num_dlinetop {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-top: double black 2.5pt;} td.gnw_data {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; white-space: nowrap !important;} td.gnw_data_uline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt;} td.gnw_data_dline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt;} td.gnw_media_caption {font-size: 8pt !important; font-family: Verdana, Arial, Helvetica, Geneva, Swiss, SunSans-Regular !important;} td.gnw_videotitle {font: bold 12px Arial !important; color: #1d5296 !important;} ;} ” data-reactid=”86″>.gnwlistitemmarginbottom {margin-bottom: 10.0px !important;} .gnwtablebottommargin {margin-bottom: 10.0px !important;} .gnwcellpaddingleft0 {padding-left: 0.0px !important;} .gnwverticalaligntop {vertical-align: top !important;} .gnwtextaligncenter {text-align: center !important;} .gnwcellparagraphmargin {margin-bottom: 0px !important; margin-top: 0px !important;} .gnwverticalalignbottom {vertical-align: bottom !important;} .gnwwhitespacenowrap {white-space: nowrap !important;} .gnwtextalignright {text-align: right !important;} .gnwcellpaddingright0 {padding-right: 0.0px !important;} .gnwunderlinestyle {text-decoration: underline !important;} .gnwtextalignleft {text-align: left !important;} .gnw_ol {position: relative !important; left: 10px !important;} .gnw_ul {position: relative !important; left: 10px !important;} .gnw_table_border_collapse td {font-size: 12px !important; line-height: 1.25em !important;} .gnw_border_top_solid {border-top: solid black 1px !important;} .gnw_border_right_solid {border-right: solid black 1px !important;} .gnw_border_bottom_solid {border-bottom: solid black 1px !important;} .gnw_border_left_solid {border-left: solid black 1px !important;} .gnw_border_top_double {border-top: double black 3px !important;} .gnw_border_right_double {border-right: double black 3px !important;} .gnw_border_bottom_double {border-bottom: double black 3px !important;} .gnw_border_left_double {border-left: double black 3px !important;} .gnw_table_border_collapse {border-collapse: collapse !important;} .gnw_align_left {text-align: left !important;} .gnw_align_center {text-align: center !important;} .gnw_align_right {text-align: right !important;} .gnw_align_justify {text-align: justify !important;} .gnw_vertical_align_top {vertical-align: top !important;} .gnw_vertical_align_middle {vertical-align: middle !important;} .gnw_vertical_align_bottom {vertical-align: bottom !important;} .gnw_padding_left_none {padding-left: 0 !important;} .gnw_padding_right_none {padding-right: 0 !important;} .gnw_table_border_collapse td.gnw_align_left {padding-left: 0 !important;padding-right: 3px !important;} .gnw_table_border_collapse td.gnw_align_right {padding-left: 3px !important;padding-right: 0 !important;} .gnw_heading {font: 16px Arial; text-align: center !important;} .gnw_subhead {font: 12px Arial; text-align: center !important;} .gnw_colhead {font: 12px Arial; text-align: center !important;} .gnw_colhead_uline {font: 12px Arial; text-align: center !important; border-bottom: solid black 1.0pt;} .gnw_colhead_dline {font: 12px Arial; text-align: center !important; border-bottom: double black 2.5pt;} .gnw_label {font: 12px Arial; vertical-align: bottom !important; text-align: left !important;} .gnw_label_uline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt;} .gnw_label_uline_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 10.0px;} .gnw_label_uline_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 15.0px;} .gnw_label_uline_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 20.0px;} .gnw_label_uline_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 25.0px;} .gnw_label_uline_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 30.0px;} .gnw_label_dline_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 10.0px;} .gnw_label_dline_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 15.0px;} .gnw_label_dline_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 20.0px;} .gnw_label_dline_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 25.0px;} .gnw_label_dline_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 30.0px;} .gnw_label_ulinetop {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-top: solid black 1.0pt;} .gnw_label_dline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt;} .gnw_label_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 10.0px;} .gnw_label_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 15.0px;} .gnw_label_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 20.0px;} .gnw_label_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 25.0px;} .gnw_label_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 30.0px;} .gnw_num {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important;} .gnw_num_uline {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-bottom: solid black 1.0pt;} .gnw_num_ulinetop {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-top: solid black 1.0pt;} .gnw_num_dline {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-bottom: double black 2.5pt;} .gnw_num_dlinetop {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-top: double black 2.5pt;} .gnw_data {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; white-space: nowrap !important;} .gnw_data_uline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt;} .gnw_data_dline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt;} .gnw_news_media_box {margin-top: 15px !important; margin-left: 6px !important; margin-bottom: 6px !important; margin-right: 6px !important; border-width: 1px !important; border-color: #A9A9A9 !important; border-style: solid !important;} .gnw_media_caption {font-size: 8pt !important; font-family: Verdana, Arial, Helvetica, Geneva, Swiss, SunSans-Regular !important;} .gnw_media_bgcolor {background-color: transparent !important;} .gnw_table {border-collapse: separate !important; border-spacing: 6px !important;} .gnw_videotitle {font: bold 12px Arial !important; color: #1d5296 !important;} td.gnw_heading {font: 16px Arial; text-align: center !important;} td.gnw_subhead {font: 12px Arial; text-align: center !important;} td.gnw_colhead {font: 12px Arial; text-align: center !important;} td.gnw_colhead_uline {font: 12px Arial; text-align: center !important; border-bottom: solid black 1.0pt;} td.gnw_colhead_dline {font: 12px Arial; text-align: center !important; border-bottom: double black 2.5pt;} td.gnw_label {font: 12px Arial; vertical-align: bottom !important; text-align: left !important;} td.gnw_label_uline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt;} td.gnw_label_uline_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 10.0px;} td.gnw_label_uline_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 15.0px;} td.gnw_label_uline_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 20.0px;} td.gnw_label_uline_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 25.0px;} td.gnw_label_uline_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt; padding-left: 30.0px;} td.gnw_label_dline_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 10.0px;} td.gnw_label_dline_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 15.0px;} td.gnw_label_dline_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 20.0px;} td.gnw_label_dline_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 25.0px;} td.gnw_label_dline_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt; padding-left: 30.0px;} td.gnw_label_ulinetop {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-top: solid black 1.0pt;} td.gnw_label_dline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt;} td.gnw_label_i10 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 10.0px;} td.gnw_label_i15 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 15.0px;} td.gnw_label_i20 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 20.0px;} td.gnw_label_i25 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 25.0px;} td.gnw_label_i30 {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; padding-left: 30.0px;} td.gnw_num {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important;} td.gnw_num_uline {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-bottom: solid black 1.0pt;} td.gnw_num_ulinetop {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-top: solid black 1.0pt;} td.gnw_num_dline {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-bottom: double black 2.5pt;} td.gnw_num_dlinetop {font: 12px Arial; vertical-align: bottom !important; text-align: right !important; white-space: nowrap !important; border-top: double black 2.5pt;} td.gnw_data {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; white-space: nowrap !important;} td.gnw_data_uline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: solid black 1.0pt;} td.gnw_data_dline {font: 12px Arial; vertical-align: bottom !important; text-align: left !important; border-bottom: double black 2.5pt;} td.gnw_media_caption {font-size: 8pt !important; font-family: Verdana, Arial, Helvetica, Geneva, Swiss, SunSans-Regular !important;} td.gnw_videotitle {font: bold 12px Arial !important; color: #1d5296 !important;} ;}