Cronos Group Launches Delicious New Dual-Flavor Cannabis Gummies
July 29 2021 - 7:00AM
Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the
“Company”), announces the launch of SOURZ by Spinach™, an exciting
new line of cannabis gummies with bold and unique dual flavor
combinations featuring proprietary flavor masking technology. SOURZ
by Spinach™ gummies were developed by Cronos Group’s experienced
team of professional chefs, food scientists, consumer packaged
goods experts and cannabis leaders. The brand rose to the challenge
of creating a cannabis gummy rooted in the principles of the
confectionery category to deliver an unparalleled taste to adult
consumers.
SOURZ by Spinach™ delivers bold fruit flavor in a distinctive
“S” shaped gummy with a proprietary coating designed to provide a
sour and sweet flavor profile, differentiating the product and
elevating the consumer experience. Each package contains five
gummies with 2 mg of THC in each gummy. SOURZ by Spinach™ gummies
are designed to be shareable and easy to split with friends.
SOURZ by Spinach™ gummies are now available in the following
flavors:
- Peach Orange – (1:1 THC:CBD)
- 10 mg THC & 10 mg CBD per package
- Blue Raspberry Watermelon (Indica)
- 10 mg THC & ≤ 0.1 mg CBD per package
- Strawberry Mango (Sativa)
- 10 mg THC & ≤ 0.1 mg CBD per package
A new survey commissioned by Cronos Group was designed to better
understand the habits of adult Canadian cannabis users and their
consumption of cannabis edibles. Notable research findings showed
that, of the respondents who reported consuming cannabis:
- Almost half (46 percent) agreed cannabis gummies are their
favourite form of edibles to consume, compared with chocolates (35
percent) and beverages (14 percent).
- 89 percent said gummies are amongst their top 3 favourite forms
of edibles.
- 1 in 5 reported they are likely to consume edibles on a first
date.
- 46 percent reported consuming edibles during the pandemic with
15 percent of respondents saying it was their first time trying
cannabis.
- More than a third (38 percent) said they would rather receive
edible gummies than a bottle of wine as a gift.
“SOURZ by Spinach™ gummies are a game-changer in the growing
edibles category and were developed through extensive research and
consumer validation,” said Dr. Todd Abraham, Chief Innovation
Officer, Cronos Group. “At Cronos Group, we’re committed to quality
and breakthrough innovation. We know that taste is a barrier to
entry in the edibles category, so we created a product that
delivers a bold and delicious flavor experience. This product will
be exciting for adult consumers who are familiar with cannabis
edibles as well as those who are new to the category.”
With the current easing of pandemic restrictions, Canadians from
coast to coast are finally enjoying a fun, highly anticipated
summer and SOURZ by Spinach™ gummies are here to fuel summer fun
with friends.
“At its core, SOURZ by Spinach™ gummies were designed to enhance
the experiences people share with their friends,” said Jeff
Jacobson, General Manager of Canada and Europe, Cronos Group. “As
people take steps to safely return to normal life this summer, we
wanted to help bring friends back together by helping them
rediscover the things they love doing in good company. We’re
excited for adult consumers to experience the delicious, bigger,
bolder edible they’ve been waiting for.”
SOURZ by Spinach™ gummies are currently available in Alberta,
British Columbia, Manitoba, Ontario and Saskatchewan. For more
information, 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.
About the ResearchReleased by Maru Public
Opinion with a summary and the data tables posted to its digital
site, the survey was undertaken by the sample and data collection
experts at Maru/Blue. This online survey of 3,023 randomly selected
Canadian adults, aged 19 and older (1,168 of whom have reported
consuming cannabis) was run from July 13 to July 15, 2021. A
probability sample of this size has an estimated margin of error
(which measures sampling variability) of +/- 1.6%, 19 times out of
20. The results have been weighted by education, age, gender and
region (and in Quebec, language), according to Canadian Census
data, to make the sample representative of the Canadian adult
population. Discrepancies in or between totals are due to
rounding.
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 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 and the Company’s Quarterly Report on Form
10-Q for the period ended March 31, 2021, both 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
WhalenCommunications Tel: (416)
504-0004media.relations@thecronosgroup.com
Investor Relations Contact: Shayne
LaidlawInvestor Relations Tel: (416) 504-0004
investor.relations@thecronosgroup.com
A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/0ed2004a-5d2f-4189-b140-dc037fc8a047
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