TORONTO, Oct. 10, 2024 (GLOBE NEWSWIRE) — Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) (“Cronos”), an innovative global cannabinoid company, is proud to announce that its award-winning brand Spinach® has risen to the best-selling cannabis brand in the Canadian market.1 Spinach’s market share outperformance represents Cronos’ relentless commitment to quality, innovation, and bringing differentiated products to the competitive Canadian adult-use market.
Since launching in November 2018, Spinach has quickly become the preferred choice among new and seasoned adult consumers alike. The success of Spinach is bolstered by its best-selling and breakthrough portfolio of products, including ranking first in both edibles and flower.1
“Our strategy has always been to develop a best-in-class portfolio of disruptive branded products that we can launch in new markets as cannabis regulations open globally,” said Mike Gorenstein, Chairman, President and CEO, Cronos. “Spinach becoming the best-selling brand in Canada is validation of the portfolio we have in market but also our innovation and marketing capabilities. We’re just getting started bringing new disruptive products to market in Canada and expanding our proven portfolio of borderless products to the global market.”
“It’s no surprise to us that Spinach® has secured its position as the number one cannabis brand in Canada, with our focus on elevating the adult consumer experience playing a key role in our success,” said Jeff Jacobson, Chief Growth Officer, Cronos. “The Spinach® brand has redefined the cannabis market, creating products that enhance shared moments with friends, and we’re thrilled by the overwhelming support from adult consumers. We’re grateful for their loyalty and enthusiasm, as we continue to lead the industry. Our emphasis on quality, innovation, and groundbreaking product development remains steadfast, with even more innovative offerings on the horizon under the Spinach® brand.”
For more information and availability, please visit: https://spinachcannabis.com and follow the brand on Instagram at: https://www.instagram.com/spinachwithfriends/.
1 HiFyre Retail Analytics – National Retail Dollar Sales by Brand in Canada – August 2024.
About Cronos Group Inc.
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® and Lord Jones®. For more information about Cronos 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 and court decisions (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 statements about product launches and innovation and the consumer experience with respect thereto; entrance into new markets; growth of Cronos, its brands and its product portfolio; marketing capabilities; market share and market leadership; and Cronos’ intention to build an international iconic brand portfolio and develop disruptive intellectual property by advancing cannabis research, technology and product development. 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, 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, 2023 and the Company’s Quarterly Reports on Form 10-Q for the quarters ended March 31, 2024 and June 30, 2024, each of which has been filed on SEDAR+ and EDGAR and can be accessed at www.sedarplus.ca 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 disclaims any obligation to update or revise any Forward-looking Statement. Readers are cautioned not to put undue reliance on any Forward-looking Statement.
Media Relations Contact:
Emily Whalen
Communications
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Investor Relations Contact:
Anna Shlimak
Investor Relations
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