Kristen Bell Launches Happy Dance CBD Brand

CANADA: Cronos Group Inc. announced the launch of Happy Dance™, a new, clean, simple CBD skincare brand, co-founded with actress and New York Times best-selling author Kristen Bell. Happy Dance launches with a trio of high-quality, cruelty-free and vegan bath and body care products.

The new Happy Dance collection features a body butter, a coconut melt and a bath bomb, all formulated with Kristen Bell’s favorite clean ingredients and high-quality CBD from full-spectrum hemp extract. These multi-purpose products are infused with delightful blends of plant-based oils and butters in enjoyable textures that are effortlessly easy-to-use. The ultimate head-to-toe body treats, Happy Dance products are perfectly suited for the CBD enthusiast or for someone experiencing CBD for the first time.

“I discovered CBD through the Lord Jones™ brand in 2017 and was blown away by its quality, integrity and consistency. As a working mom, I turned to CBD skincare as a way to turn down the volume of my life and CBD products have since become an essential part of my self-care routine,” said Kristen Bell. “I was inspired to create a line of high-quality, affordable CBD bath and body care products that would reach a wide audience. Having been involved in all aspects of bringing this new brand to life, from the formulations to the packaging, I couldn’t be happier to launch Happy Dance today.”

“After years as a working actress, Kristen Bell understands the importance of taking care of your skin,” said Summer Frein, U.S. General Manager, Cronos Group. “Her passion for the category started with her personal and professional experience as a skincare ambassador and she has since become someone who people look to for personal care advice and expertise.”

The Happy Dance brand is the epitome of good, clean, fun. The full-spectrum hemp-derived CBD product collection launching today features:

  • Happy Dance Whipped Body Butter (200mg CBD) – $30
  • Happy Dance Head-to-Toe Coconut Melt (225mg CBD) – $25
  • Happy Dance Stress Away Bath Bomb (60mg CBD) – $15

“We feel fortunate to be working with someone as authentic, caring and kind as Kristen,” said Kurt Schmidt, President and Chief Executive Officer, Cronos Group. “We have always been committed to improving people’s lives with breakthrough cannabinoid products, which is why we’re incredibly excited to launch an accessible, purpose-driven brand with Kristen Bell, someone we know consumers trust for her integrity and relatability.”

Happy Dance’s commitment to self-care extends not only to its products, but to the community it serves. One percent of profits from sales on the Happy Dance website will benefit A New Way of Life Re-Entry Project, a Black-owned LA-based organization that provides housing, case management, pro bono legal services, advocacy and leadership development for women rebuilding their lives after prison.

“It was essential to me that Happy Dance be a purpose-driven brand that challenged the traditional notion of self-care,” said Kristen Bell. “And when I care for myself, I can better care for others. Happy Dance’s commitment to care extends to those who need it most, which is why we are honored to be partnering with A New Way of Life Re-Entry Project.”

Happy Dance products undergo extensive third-party testing, are vegan and cruelty-free and tested for heavy metals, microbiological contaminants, residual solvents and pesticides. Each product formula is evaluated through clinical testing according to cosmetic industry standards. Every product also features traceable lot codes allowing customers to review product Certificates of Analysis (COA).

For more information, or to purchase Happy Dance products, visit www.doahappydance.com or @happydance.

Altria Becomes Largest Shareholder in Cronos Group, A Leading Global Cannabinoid Company

VIRGINIA: Altria announced the completion of its approximately USD $1.8 billion (CAD $2.4 billion) investment in Cronos Group, a leading global cannabinoid company, following receipt of shareholder and Canadian regulatory approvals.

Altria’s investment represents an approximate 45% economic and voting interest in Cronos Group with a warrant to acquire additional ownership at a price of CAD $19.00 per share, exercisable over the next four years. If exercised in full today, the warrant would increase Altria’s ownership in Cronos Group to approximately 55%. The aggregate exercise price for the warrant is approximately USD $1.0 billion (CAD $1.4 billion).

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Under the terms of the transaction, Altria nominated four directors who were recently elected to serve on Cronos Group’s seven member board: Kevin C. Crosthwaite, Jr., Murray R. Garnick, Bruce A. Gates and Bronwen Evans.

“We’re excited to finalize our investment in Cronos Group and to support their talented team,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “Cronos Group is our exclusive partner in the emerging global cannabis category and represents an exciting new growth opportunity for Altria.”

“We are delighted to close this transaction and kick-off a relationship that we expect to lead to significant growth and value creation,” said Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer. “Altria’s investment and the services they will provide to Cronos Group will enhance our financial resources and allow us to expand our product development and commercialization capabilities and regulatory expertise to better position Cronos Group to compete, scale and lead the rapidly growing global cannabis industry. We look forward to the many opportunities we expect this relationship to create.”

 

 

MJ – The ETFMG Alternative Harvest ETF Surpasses $1 Billion In Assets

NEW JERSEY: ETF Managers Group (ETFMG) announced that the ETFMG Alternative Harvest ETF, better known as MJ, has officially joined the “billion dollar club.”  After less than 14 months of trading on the NYSE the Fund achieved an impressive milestone by passing $1 billion in assets under management on February 4, 2019.

MJ is now the largest cannabis ETF in the world and remains the first and only U.S. listed ETF to target the global cannabis industry directly. The Fund provides investors unrivaled exposure to this constantly evolving sector which continues to see medicinal advancements, regulatory changes and M&A activity, highlighting the long-term, outsized investment opportunity in the cannabis industry.

Despite elevated market volatility in 2018, MJ managed to retain and grow assets by 9,600% within its first year. After a nearly 9-million-dollar dividend distribution (equivalent to a 1.36% yield per share)* for the quarter, investors that held MJ throughout Q4 of 2018 were essentially paid to own the fund as the income exceeded the total expenses of owning it.

Sam Masucci, CEO and Founder of ETFMG said “When we launched MJ I talked about how at ETFMG we look to impact the ETF industry evolution with products that innovate and provide investors exposure to new markets, in fact 75% of our products are first to market. MJ is not only proof of our ability but also as to the power of the ETF wrapper and that thematic products can have a place in the average investor’s portfolio while generating significant returns.” Sam continued by saying “…the tremendous success seen in the global cannabis industry shows no signs of slowing down and we are proud to be a part of it with MJ.”

As of Tuesday, February 5, 2019 MJ is up 46.6% YTD due in large part to the performance of three of the largest holdings within the fund.

  • Cronos Group (CRON has a positive 121% return this year, in large part due to the M&A news involving tobacco giant Altria (MO).
  • Canopy Growth (CGC), one of the largest ($16b in mkt cap) innovators in the cannabis space, up 85%.
  • Cannabis conglomerate Aurora Cannabis (ACB), with a return of 62% since 12/31/18.

Altria to Make Growth Investment In Cronos Group

Altria to Invest USD $1.8 Billion (CAD $2.4 Billion) for 45% Ownership Interest in Leading Global Cannabinoid Company with Warrant to Increase Ownership to 55% Over Next 4 Years

VIRGINIA: Altria Group today announced that it has entered into an agreement to acquire newly issued shares in Cronos Group, a leading global cannabinoid company, headquartered in Toronto, Canada. The transaction represents a 45% equity stake in Cronos Group, at a price of CAD $16.25 per share, for an aggregate investment by Altria of approximately USD $1.8 billion (approximately CAD $2.4 billion).

As part of the agreement, at closing, Altria will have the right to nominate four directors, including one independent director, to serve on Cronos Group’s Board of Directors, which will be expanded from five to seven directors. The agreement includes a warrant to acquire an additional ownership interest in Cronos Group at a price of CAD $19.00 per share exercisable over four years from the closing date. If exercised in full, the warrant would increase Altria’s ownership in Cronos Group by 10% to approximately 55%.

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“Investing in Cronos Group as our exclusive partner in the emerging global cannabis category represents an exciting new growth opportunity for Altria,” said Howard Willard, Altria’s Chairman and Chief Executive Officer. “We believe that Cronos Group’s excellent management team has built capabilities necessary to compete globally, and we look forward to helping Cronos Group realize its significant growth potential.”

“Altria is the ideal partner for Cronos Group, providing the resources and expertise we need to meaningfully accelerate our strategic growth,” said Mike Gorenstein, Cronos Group’s Chairman, President and Chief Executive Officer. “The proceeds from Altria’s investment will enable us to more quickly expand our global infrastructure and distribution footprint, while also increasing investments in R&D and brands that resonate with our consumers. Importantly, Altria shares our vision of driving long-term value through innovation, and we look forward to continuing to differentiate Cronos Group in this area.”

This investment positions Altria to participate in the emerging global cannabis sector, which it believes is poised for rapid growth over the next decade. It also creates a new growth opportunity in an adjacent category that is complementary to Altria’s core tobacco businesses.

Altria expects its investment to help Cronos Group accelerate its growth strategies and its R&D and intellectual property development. Additionally, Altria will provide expertise to help Cronos Group thrive in the growing global cannabis market. These services may include regulatory affairs, regulatory science, compliance, government affairs and brand management.