TORONTO, Sept. 05, 2019 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos Group” or the “Business”) right now announced that it has closed its previously announced acquisition of 4 Redwood Holding Group, LLC operating subsidiaries. The transaction offers Cronos Group with a top U.S. hemp-primarily based items platform, like hemp-derived cannabidiol ( CBD) infused skincare and other customer items that are sold on the internet and via retail and hospitality companion channels in the United States beneath the brand, Lord Jones™.
Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer, stated, “this acquisition is 1 of a quantity of new development possibilities that is differentiating our business and our strategic path. We are pleased to have completed this acquisition and appear forward to functioning closely with Rob and Cindy to additional create on their record of innovation and totally capitalize on the platform they have made.”
About Cronos Group Inc.
Cronos Group is an revolutionary international cannabinoid business with international production and distribution across 5 continents. Cronos Group is committed to constructing disruptive intellectual property by advancing cannabis analysis, technologies and product improvement. With a passion to responsibly elevate the customer expertise, Cronos Group is constructing an iconic brand portfolio. Cronos Group’s portfolio contains PEACE NATURALS™, a international overall health and wellness platform, and two adult-use brands, COVE™ and Spinach™. To find out a lot more about Cronos Group and its brands, please stop by: www.thecronosgroup.com www.peacenaturals.com www.covecannabis.ca www.spinachcannabis.com.
This news release consists of “forward‐looking information” and “forward‐looking statements” inside the which means of applicable Canadian and U.S. securities laws. All information and facts contained herein that is not clearly historical in nature may well constitute forward‐looking information and facts. In some situations, forward‐looking statements can be identified by words or phrases such as “may”, “will”, “expect”, “plan”, “anticipate”, “intend”, “potential”, “estimate”, “believe” or the damaging of these terms, or other related expressions intended to recognize forward‐looking statements. Some of the forward‐looking statements contained in this press release involve the anticipated rewards of the acquisition, the capacity of the Business to continue, constant with applicable law, to create, manufacture, distribute and sell hemp‐based items in the United States and internationally, the Company’s intention to create an international iconic brand portfolio and create disruptive intellectual house. Forward‐looking statements are necessarily primarily based upon a quantity of estimates and assumptions that, when regarded affordable by management, are inherently topic to considerable company, financial and competitive dangers, uncertainties (like the application of State and federal law to CBD items and the scope of any regulations by the FDA more than CBD items) and contingencies that may well bring about actual economic benefits, overall performance or achievements to be materially distinct from the estimated future benefits, overall performance or achievements expressed or implied by these forward‐looking statements and the forward‐looking statements are not guarantees of future overall performance. A discussion of some of the material dangers applicable to the Business can be located in the Company’s present Management’s Discussion and Evaluation and Annual Data Kind, each of which have been filed on SEDAR and EDGAR and can be accessed at www.sedar.com and www.sec.gov/edgar, respectively. The forward‐looking information and facts integrated in this news release is produced as of the date of this news release and, except as needed by law, Cronos Group disclaims any obligation to update or revise any forward‐ seeking statements. Readers are cautioned not to place undue reliance on these forward‐looking statements.
Cronos Group Make contact with
Tel: (416) 504-0004
Media Make contact with:
Barrett Golden, Adam Pollack or Mahmoud Siddig
Joele Frank, Wilkinson Brimmer Katcher
Tel: (212) 355-4449