TORONTO, June 27, 2022 (GLOBE NEWSWIRE) -- 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.
“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.”
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.
Cronos Group Contact
Shayne Laidlaw
Investor Relations
Tel: (416) 504-0004
investor.relations@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.
For more information and interview requests, please contact Sam Davidson at + 1 970-657-2479 or sam@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.
