Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON), a renowned Toronto-based cannabinoid company, has launched a novel new product with a high concentration of cannabichromene (CBC).
The company announced the debut of its Spinach FEELZ Day Trip Mango Lime gummies on Wednesday, the first CBC gummy in Canada containing a 3:1 ratio of CBC to THC.
Cronos says it has utilized the Ginkgo Bioworks platform for the product’s organism design and development.
We’re so excited to congratulate @cronosgroup – an innovative global cannabinoid company – for launching a CBC-focused product, the Spinach FEELZ™ THC+CBC Day Trip Mango Lime gummies, utilizing our platform for organism design and development.https://t.co/rMdkRTqp1T
— Ginkgo Bioworks (@Ginkgo) December 7, 2022
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CBC is a non-psychoactive cannabinoid known for its ability to help alleviate pain and inflammation. It is also known for being an efficacious anti-depressant.
Following the commercialization of the CBC product, Cronos will be issuing Ginkgo approximately 489,000 common shares which represents 33 per cent of the total anticipated issuance of common shares associated with the cannabinoid.
“We’re incredibly excited about the potential of CBC, and the Spinach FEELZ Day Trip gummies have the perfect combination of THC and CBC, which offers a unique and differentiated experience,” said Mike Gorenstein, President and CEO of Cronos.
“Our patent pending formulation is its own special vibe. It’s the perfect product to energize your high and lead you on an uplifting adventure or to an impromptu dance party – let it take you on a trip and enjoy wherever you might end up.”
Currently, the product is only available in British Columbia and Alberta but it will make its way to the remaining Canadian provinces in the coming weeks.
“Our project with Cronos is focused on building strains that produce eight target cannabinoids at high quality and purity,” says Ginkgo Bioworks.
Ginkgo also says it is thrilled to be working with Cronos as the Toronto company builds the world’s most innovative cannabinoid platform.
rowan@mugglehead.com
