Cronos Group Launches Marketing Code to Drive Responsibility Within the Cannabis Industry
May 10 2021 - 7:00AM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the
“Company”) today released a Marketing Code designed to responsibly
move the emerging cannabis industry forward. Cronos Group believes
that those below the legal age of consumption should not be
targeted in an adult-use cannabis market. Cronos Group recognizes
there is a clear need for standards. That’s why the Company
proactively created its own and is sharing its principles publicly
as a resource for the industry and policymakers.
The principles in the Cronos Group Marketing
Code apply to all marketing activities of all Cronos Group brands
globally and will be communicated to all business partners in any
work they do on the Company’s behalf. The Marketing Code represents
Cronos Group’s commitment to responsible marketing standards. From
the Company’s leadership team to the teams staffing its marketing
events, Cronos Group expects all such individuals to understand and
follow these principles. The Company is actively implementing the
training and protocols necessary to uphold these commitments.
Cronos Group intends to live these values through our advertising,
imagery, websites, social media, and marketing events.
- Our advertising will be targeted to adults.
- We will highlight responsible cannabis consumption and any
people depicted in any imagery will be adults.
- Our brand websites and social media will be designed for
adults.
- Our marketing events will be targeted to adults and will
promote responsible cannabis consumption.
- We will provide our customers with facts and substantiate our
claims.
“This Marketing Code is an important step toward
elevating industry practices. We hope that others within the
industry will embrace similar commitments,” said Kurt Schmidt,
President and Chief Executive Officer, Cronos Group. “As
policymakers consider how to best regulate a federally legal U.S.
cannabis market, we believe these principles reflect the sort of
policies necessary to support a trustworthy industry.”
“With this Marketing Code we have clear
principles to guide our operations,” said Anna Shlimak, Senior Vice
President Corporate Affairs, Cronos Group. “In the coming weeks and
months, Cronos Group will be working with our industry peers in the
U.S. to advance these important measures. We call on like-minded
cannabis companies to join us. We will also be engaging with
policymakers and regulators to share the expertise we’ve developed
through operating in the strictly regulated Canadian market for
close to a decade.”
To view the full Marketing Code, visit
https://thecronosgroup.com/responsibility or download a PDF
here.
About Cronos Group
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 wellness platform, two
adult-use brands, COVE™ and Spinach™, and three U.S. hemp-derived
CBD brands, Lord Jones™, Happy Dance™ and PEACE+™.
Forward-looking Statements
This press release may contain information that may constitute
“forward-looking information” or “forward-looking statements”
within the meaning of applicable Canadian and U.S. securities laws
(collectively, “Forward-looking Statements”). All information
contained herein that is not clearly historical in nature or that
necessarily depends on future or subsequent events 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”, “plan”, “anticipate”,
“intend”, “potential”, “estimate”, “believe” or the negative of
these terms, or other similar words, expressions or phrases
intended to identify Forward-looking Statements. Some of the
Forward-looking Statements contained in this press release include
the Company's intention to build an international iconic brand
portfolio and develop disruptive intellectual property.
Forward-looking Statements are necessarily based upon a number of
estimates and assumptions that, while considered reasonable by
management, are inherently subject to significant business,
economic and competitive risks, financial results, results,
performance or achievements expressed or implied by those
Forward-looking Statements. Forward-looking Statements are not
guarantees of future performance and involve known and unknown
risks, uncertainties and other factors, including those discussed
in the Company’s Annual Report on Form 10-K for the year ended
December 31, 2020, which has been filed on SEDAR and EDGAR and can
be accessed at www.sedar.com and www.sec.gov/edgar, respectively,
and subsequent reports on Form 10-Q. Any Forward-looking Statement
included in this press release is made as of the date of this press
release and, except as required by law, Cronos Group disclaims any
obligation to update or revise any Forward-looking Statement.
Readers are cautioned not to put undue reliance on any
Forward-looking Statement.
For further information, please contact:Anna
ShlimakSVP, Corporate Affairsanna.shlimak@thecronosgroup.comTel:
(416) 504-0004
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