Abacus Health Products Inc., marking its entry into the larger market of ingestible CBD products, announced an agreement with Rob Gronkowski (Gronk), three-time professional football champion.
The agreement includes a commitment by Gronkowski to support the company’s products in a manner that Abacus believes will meaningfully increase awareness with consumers and retail buyers as well as collaborate with the company in the development and marketing of new and innovative products.
The partnership with Gronkowski offers Abacus a unique position from which to communicate the value of CBDMEDIC pain relief products to consumers. Additionally, Gronkowski’s health-conscious lifestyle is an excellent fit for the planned launch in 2020 of a new nutrition & wellness brand which will mark Abacus’ entry into the larger market of ingestible CBD products.
“I’m excited to partner with Abacus — a company that I truly believe in, and start a new chapter of my career as an advocate for CBD in recovery,” Gronkowski said. “During my career, I pushed myself while recovering from nine surgeries and countless injuries. I was in near constant pain and needed to make a change. Once I retired, I looked for better and more natural ways to recover and discovered CBDMEDIC. These products have helped me safely manage pain better than anything else I’ve tried. Building on my own experience with CBDMEDIC for pain, I’m inspired to work with the company to introduce new CBD products to the market.”
“We’re proud to partner with one of the football’s greatest tight ends of all time,” said Abacus CEO Perry Antelman. “Gronk’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. Abacus is focused on providing safe, natural, and effective relief for millions of Americans in need of recovery.”
The agreement with Gronkowski and related agreements include payment of an upfront fee, royalties to be derived from a new sports-oriented nutrition & wellness brand that is planned to be launched, and an issuance of 302,835 subordinate voting shares in the company and warrants to acquire 35,666 subordinate voting shares at a price of US$15.00 per share. Additional warrants are issuable on an annual basis during the term of the agreement.
Photo courtesy Abacus Health Products
