fbpx
QQQ
-2.71
348.05
-0.78%
DIA
-5.86
344.51
-1.73%
SPY
-7.07
429.04
-1.68%
TLT
+ 2.69
140.35
+ 1.88%
GLD
-0.87
166.72
-0.52%

Cronos Group Encourages Responsibility In Cannabis Industry, Introduces Marketing Code

May 10, 2021 12:15 pm
Share to Linkedin Share to Twitter Share to Facebook Share to Print License More
Cronos Group Encourages Responsibility In Cannabis Industry, Introduces Marketing Code

 

Cronos Group Inc. (NASDAQ:CRON) (TSX:CRON) released a Marketing Code addressing the issue of targeting young people who are below the legal age for adult-use cannabis consumption.

Kurt Schmidt, President and CEO of the Toronto-based Cronos Group, emphasized a need for standards and principles that will elevate industry practices.

To that end Cronos plans to promote the following principles:

  • Advertising will be directed toward adults.
  • The emphasis will be on responsible consumption of cannabis, including imagery featuring only adults.
  • Adult-oriented design of brand websites and social media.
  • Promotion of responsible cannabis consumption on adults-only marketing events.
  • Transparency and education, in addition to the substantiation of claims.

“As policymakers consider how to best regulate a federally legal U.S. cannabis market, we believe these principles reflect the sort of policies necessary to support a trustworthy industry,” Schmidt said on Monday.

Anna Shlimak, Cronos Group senior vice president of corporate affairs, said the company intends to work with its industry counterparts to introduce and advance the measures in the future.

“We will also be engaging with policymakers and regulators to share the expertise we’ve developed through operating in the strictly regulated Canadian market for close to a decade,” Shlimak added.

Photo by Kym MacKinnon on Unsplash

For the latest in financial news, exclusive stories, memes follow Benzinga on Twitter, Facebook & Instagram. For the best interviews, stock market talk & videos, subscribe to our YouTube channel.


Related Articles

Cronos Group Shares Slightly Up After Announcing Purchase Of 10.5% Stake In PharmaCann For $110.4M

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) is poised to acquire a stake in PharmaCann for approximately $110.4 million. read more

Cronos Group, Ginkgo Bioworks Modify Agreement To Speed Up Commercialization of Cultured Cannabinoids

Cannabinoid company Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) is amending its previous partnership agreement with Ginkgo Bioworks, Inc., a company involved in cell programming. read more

Cronos Group Posts Earnings Report, Rolls Out 'Happy Dance' At ULTA Beauty Stores

Cronos Group Inc. (NASDAQ: CRON) (TSX: CRON) released Friday its fourth quarter and full-year 2020 financial results with a yearly net loss of $75 million, compared to a net income of $1.1 million in 2019. read more

Cannabis Stocks Quiet After Report 'Maine Lawmakers Approve Bill To Decriminalize All Drugs'

https://www.marijuanamoment.net/maine-lawmakers-approve-bill-to-decriminalize-all-drugs-on-50th-anniversary-of-nixons-war-on-drugs/ read more