Cronos Group Launches its First Cultured Cannabinoid Product, SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG Gummy
October 20 2021 - 6:00AM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group”
or the “Company”) is pleased to announce the launch of
its SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummy, the
first cannabis edible of its kind in Canada to feature THC and
cultured cannabigerol (“CBG”) from fermentation in a sweet,
delicious gummy for adult consumers. As the only cannabis gummy in
Canada to feature cultured CBG, one of many rare cannabinoids found
in small quantities within the cannabis plant, this gummy is
formulated to deliver a happy and relaxed experience.
SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG gummies
come in a Pineapple Starfruit flavor and feature the same dual
flavor combination and flavor masking technology that have made
SOURZ™ gummies one of the best-selling cannabis edibles in
Canada.
SPINACH FEELZ™ Chill Bliss 2:1 THC|CBG
gummies are now available in the following format in
Alberta, British Columbia, Manitoba, Ontario and Saskatchewan.
- Pineapple Starfruit – (2:1 THC|CBG)
- 10 mg THC & 5 mg CBG per package
- Each package contains 2 gummies
“Today we mark an incredible achievement for
Cronos Group and the cannabis industry at large with the launch of
the first cannabis edible in Canada to feature cultured CBG. This
new product is truly a breakthrough in cannabis innovation,” said
Kurt Schmidt, President and CEO, Cronos Group. “We are delivering
on our ultimate goal to introduce exceptional products that will
unlock the full potential of cannabis and we look forward to
bringing more rare cannabinoids to market under the SPINACH FEELZ™
sub-brand.”
The Spinach™ brand’s breakthrough new platform
and sub-brand, SPINACH FEELZ™, plans to produce a full line of
cannabis products, which will prominently feature rare cannabinoids
in a wide range of product formats, designed to deliver unique and
enhanced experiences made possible through proprietary blends of
rare cannabinoids alongside more common cannabinoids, like THC and
CBD. Each product will be formulated to help adult consumers,
“Feelz. The Way You Want.”
The SPINACH FEELZ™ Chill Bliss gummy is
Cronos Group’s first consumer product created through the Company’s
partnership with Ginkgo Bioworks (“Ginkgo”). Cronos Group and
Ginkgo recently announced the achievement of the first target
productivity milestone in this partnership, with CBG as the first
cultured cannabinoid to be successfully produced at commercial
scale.
For more information and availability, please
visit https://spinachcannabis.com/edibles.
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+™. For more information about Cronos
Group and its brands, please visit: thecronosgroup.com.
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 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 expressions
intended to identify Forward-looking Statements. Some of the
Forward-looking Statements contained in this press release
include the Company’s goal of introducing exceptional products that
will unlock the full potential of cannabis and its intention to
bring more rare cannabinoid products to market; the Company’s
intention to produce a full line of cannabis products prominently
featuring rare cannabinoids in a wide range of product formats; the
Company’s expectations regarding the potential success of, and the
costs and benefits associated with its partnership with Ginkgo; 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 and the Forward-looking Statements are
not guarantees of future performance. A discussion of some of
the material risks applicable to the Company can be found in the
Company’s Annual Report on Form 10-K for the year ended December
31, 2020, the Company’s Quarterly Report on Form 10-Q for the
period ended March 31, 2021 and the Company’s Quarterly Report on
Form 10-Q for the period ended June 30, 2021, each of which have
been filed on SEDAR and EDGAR and can be accessed at
www.sedar.com and www.sec.gov/edgar, respectively. 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:
Media Relations Contact: Emily
Whalen Communications Tel: (416)
504-0004 media.relations@thecronosgroup.com
Investor Relations
Contact: Shayne Laidlaw Investor
Relations Tel: (416)
504-0004 investor.relations@thecronosgroup.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/d640105f-66ad-4479-9ded-0d777b101742
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