Hemp-derived cannabidiol (CBD) manufacturer Abacus Health Products (CSE:ABCS,OTCQX:ABAHF) has scored an endorsement deal with former NFL player Rob Gronkowski, the company announced on Tuesday (August 27).
In a press release, the company confirmed Gronkowski will act as a spokesperson for its CBD recovery products. He will participate in the marketing of new products, and Abacus also teased that Gronkowski could help in the development of new CBD items.
“(Gronkowski’s) passion for living life to the fullest while maintaining a healthy, natural, and pain-free lifestyle aligns perfectly with the mission of our company,” said Perry Antelman, CEO of Abacus.
Shares of the CBD producer jumped following the announcement. They opened at a price of C$7.37, and, as of 12:48 p.m. EDT, had increased in value by 4.9 percent to C$7.40.
— Rob Gronkowski (@RobGronkowski) August 27, 2019
In a statement, Gronkowski said after his retirement he started exploring options to treat his pain from playing football. Gronkowski began his professional career in the NFL in 2010, and suffered a variety of injuries during that time. Gronkowski officially retired from the NFL in March after playing his entire career with the New England Patriots. The tight end won three Super Bowls with the Patriots.
“During my career, I pushed myself while recovering from nine surgeries and countless injuries,” said Gronkowski. “I was in near constant pain and needed to make a change.”
During a press conference, Gronkowski said he is now pain free thanks to CBD products, and asked major sports leagues to update their policies on the drug.
Other retired NFL players have come forward with support for the marijuana industry as a way to manage pain from playing the sport. However, the football league continues to evaluate the drug without committing to a change in its ban on marijuana products.
Business opportunities for athletes in the cannabis industry have also flourished. Ex-NFL player Tiki Barber acts as the chief business development officer for Grove Group Management, a private equity and venture capital firm he helped launch in 2018.
Abacus currently promotes two brands with different lines of pain management products: CBD Medic and CBD Clinic. The first line also contains a line of skincare products.
As part of an investor deck, the company confirmed it has secured distribution channels with national retailers in the US.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
CanBud Distribution Corporation Closes 2M Second and Final Tranche of its Oversubscribed Private Placement Offering
CanBud Distribution Corporation (CSE: CBDX) (FSE: CD0) (“CanBud” or the “Corporation”) is pleased to announce that it has closed the final tranche of its oversubscribed non-brokered private placement for aggregate gross proceeds of approximately $4,730,000 (the “Offering”).
The Corporation issued a combined total of 39,409,346 units (each a “Unit“) at price of $0.12 per Unit, with each Unit comprised of one common share in the capital of the Corporation (each a “Common Share“) and one common share purchase warrant (each a “Warrant“). Each Warrant entitles the holder to purchase one additional Common Share at an exercise price of $0.22 within 24 months of the closing of the Offering (the “Warrant Term“), provided, however that if the closing price of the Common Shares on the Canadian Securities Exchange (the “CSE“) (or any such other stock exchange in Canada as the Common Shares may trade at the applicable time) is $0.25 or greater per Common Share for a period of five (5) consecutive trading days at any time after the closing date of the Offering, the Corporation may accelerate the Warrant Term such that the Warrants shall expire on the date which is 30 days following the date a press release is issued by the Corporation announcing the reduced warrant terms.
Thoughtful Brands Inc. (CSE:TBI)(FSE:1WZ1)(OTCQB:PEMTF) (the “Company” or “Thoughtful Brands) announces that the letter of intent with Franchise Cannabis Corp. (“FCC”), previously announced in January, has been terminated. The previously announced European joint venture with FCC will continue and allow the Company to launch and tailor its products to European consumer demands
In connection with termination of the merger transaction with FCC, the Company has agreed to pay FCC $100,000 in cash and to issue FCC 5,000,000 common shares of the Company at a deemed value of $0.05 per share. The common shares will be subject to a four-month-and-one-day statutory hold period in accordance with applicable securities laws.
Mergers and acquisitions (M&A) in cannabis space have helped boost the industry to new levels.
Strategic sale of non-core assets by Lobe adds non-dilutive capital and shareholder value
Lobe Sciences Ltd. (CSE: LOBE) (OTC Pink: GTSIF) (“Lobe” or the “Company”) is pleased to announce, further to its press release dated February 23, 2021, that it has completed the sale to Ionic Brands Corp. (“Ionic Brands”) of Lobe’s non-core cannabis assets relating to Washington-based Cowlitz County Cannabis Cultivation Inc. (“Cowlitz”) held by Lobe’s subsidiary vendor, Green Star Biosciences Inc. (the “Transaction”).
Seattle Area Grocery Chain Metropolitan Market to Begin Carrying KOIOS and Fit Soda on March 22, 2021
Adding to its existing presence on the west coast of the United States, all five KOIOS™ flavours and all four Fit Soda™ flavours will be carried in Metropolitan Market stores beginning on Monday, March 22, 2021. Serving the Seattle-Tacoma area (population 3.87 million), Metropolitan Market is one of five chains under its parent firm Good Food Holdings, which has a total of 51 stores in California, Oregon, and Washington State.
Koios Beverage Corp. (CSE: KBEV; OTC: KBEVF) (the “Company” or “Koios”) is pleased to announce that beginning on Monday, March 22, 2021, Koios’ entire line of canned beverage products will be sold at all locations of Metropolitan Market, an urban format supermarket chain in the Seattle-Tacoma area of Washington State. In Q1 2021, the Company announced multiple placements of its beverage products with regional grocers in markets on the west coast of the United States including Market of Choice in Oregon Jensen’s in Southern California and major natural grocery chain Sprouts Farmers Market which has a substantial west coast presence with over one third of its locations (360+ stores across 23 states) in California as well as Washington State 1 . The Company has also recently announced other developments relating to its expansion efforts being undertaken in 2021 such as an in-house beverage canning facility and distribution agreements with regional and national wholesale partners.