TORONTO — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos” or the “Company”) is pleased to announce the launch of the first of what is expected to be a range of products, in partnership with Geocann, which will utilize the advanced VESIsorb® delivery system. This technology provides better bioavailability and faster absorption. VESIsorb® formulations have set the industry benchmark in peer-reviewed published studies, delivering superior pharmacokinetic performance, including fast absorption, higher plasma concentration, and greater area under the curve.
Related: Cronos Group and Ginkgo Bioworks Announce Achievement of THCV Equity Milestone
“We are committed to bringing breakthrough innovations to the market, providing consumers with differentiated and high-quality products,” said Mike Gorenstein, Chairman, President and Chief Executive Officer, Cronos. “Working with Geocann’s technology enables us to expand our product offering to bring consumers a fast-acting cannabinoid product with a quicker onset than previously available, along with improved efficacy, helping enhance and differentiate effect and experience.”
Related: Cronos Group Chief Innovation Officer Dr. Todd Abraham to Retire
VESIsorb® is the leading delivery system innovation for dramatically improving the bioavailability of difficult-to-absorb ingredients, like cannabinoids and terpenes. This patented technology has been shown to have faster absorption in both well-designed pilot and peer-reviewed published studies. Geocann is the exclusive supplier of the VESIsorb® delivery system for cannabinoids, terpenes, and flavonoid formulations, and is well-recognized for its substantial investments in research and product development in order to meet the needs of the marketplace.
“As leading companies in our respective sectors, Geocann and Cronos are uniquely positioned to set new industry benchmarks for the performance of cannabinoid products,” Jesse Lopez, Chief Executive Officer and founder of Geocann, said. “Most importantly, Geocann is proud to support the innovative brands under the Cronos umbrella.”
The first VESIsorb® formulated product the companies have launched together are the CBD Gel Capsules by Lord Jones®. The companies look forward to collaborating in the future on innovative products and formulations.
About Cronos
Cronos is an innovative global cannabinoid company committed to building disruptive intellectual property by advancing cannabis research, technology and product development. With a passion to responsibly elevate the consumer experience, Cronos is building an iconic brand portfolio. Cronos’ diverse international brand portfolio includes Spinach®, PEACE NATURALS®, Lord Jones®, Happy Dance® and PEACE+™. For more information about Cronos and its brands, please visit: thecronosgroup.com.
About Geocann
Geocann is a global cannabis organization that combines clinically-researched cannabinoids and terpenes with technologically-advanced drug delivery system technologies that increase absorption and bioavailability for maximum health benefits. These product formulations offer novel solutions that address unmet marketplace needs and provide unmatched competitive advantages that are backed by a robust body of clinical studies and proprietary scientific evidence. Geocann owns a robust intellectual property portfolio, including the worldwide exclusivity for cannabinoids, terpenes, and flavonoids formulated with the VESIsorb® drug delivery system technology platform. For more information, please visit www.geocann.com.
Forward-looking Statements of Cronos Group Inc.
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 companies’ launch of a range of products and future collaboration on innovative products and formulations and Cronos’ 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, 2021 and Quarterly Report on Form 10-Q for the period ended March 31, 2022, both have which 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.
- Commentary: It’s time for Biden to keep his promises on cannabis
Paul Armentano, the deputy director of the National Organization for the Reform of Marijuana Laws (NORML), calls on President Joe Biden to live up to the pledges made during his campaign regarding cannabis legalization. - Unofficial totals show Missouri cannabis legalization initiative short
An initiative to legalize recreational marijuana use in Missouri will need help if it is going to be on the November ballot. Reports from every county in the state show the petition is short of its goal in two of the six congressional districts needed to qualify for the ballot. - Fate of Missouri cannabis initiative unclear as signature count continues
Whether Missouri voters will get a chance to legalize recreational marijuana in November is still in question. The latest incomplete tabulations show the Legal Missouri 2022 initiative is short of the necessary signatures in four of the six Congressional districts necessary to make the ballot. - ACLU of NV suit to deschedule cannabis statewide survives challenge
A legal effort by the ACLU of Nevada to force the Nevada Board of Pharmacy to remove cannabis from its Schedule 1 of controlled substances will proceed, Clark County Judge Joe Hardy ruled Wednesday when he denied the board’s motion to dismiss the ACLU’s lawsuit. - Advocates, parents ‘beg’ Nebraskans to seek out and sign petition to legalize medical cannabis
Advocates for legalizing medical marijuana switched Wednesday from urging Nebraskans to sign their petition to begging them as a July 7 deadline looms to submit signatures to qualify for the ballot in November. - Iowans launch cannabis reform campaign aimed at showing public support
Robert “Lewy” Lewis of Windsor Heights has been in pain since 1974, when he had spinal surgery at the age of 21. To repair a blockage in his spine, surgeons removed eight inches of his vertebrae and then sewed them back on, using about 300 steel stitches. - Big Apple Cannabis: CWCB Returns to New York City for Eighth Year
“No one seems to have gotten it right.” Mayor Eric Adams told a Friday afternoon crowd, of legal cannabis in America. “This is our chance to get it right.” New York City’s mayor addressed attendees of the 2022 Cannabis World Congress & Business Expo (CWCBExpo) on the second day of the three-day event. Adams stressed the social equity focus of New York’s cannabis program. - Nebraska medical cannabis backers file legal challenge to petition process
Supporters of medical marijuana in Nebraska have launched a legal challenge to the state’s requirement that 5% of registered voters in at least 38 counties sign a petition to get the measure before voters on the ballot. - N.J. lawmakers seek to curb cannabis use
As New Jersey nears the end of its first month of legal recreational marijuana sales, lawmakers have introduced a series of bills aimed at restricting what types of workers can use cannabis off the job. - Missouri House votes to require disclosure of medical cannabis ownership records
The Missouri House voted overwhelmingly Tuesday to require state regulators to disclose ownership information for businesses granted medical marijuana licenses that the state has withheld from public view.