Molson Coors Brewing Company said that its Canadian business unit has entered into an agreement to develop cannabis-infused beverages, following legalization. Marijuana use in Canada will become legal later this year.
Molson Coors Canada is teaming with leading Canadian cannabis producer, The Hydropothecary Corporation (HEXO), to form a joint venture, to pursue opportunities to develop non-alcoholic, cannabis-infused beverages.
The joint venture will be structured as a standalone start-up company with its own board of directors and an independent management team. Molson Coors Canada will have a 57.5 percent controlling interest in the JV, with HEXO having the remaining ownership interest.
The new company will combine the proven beverage experience of Canada’s leading brewer with a recognized innovator in the fast-growing cannabis sector to explore the highly anticipated consumable cannabis market, which is expected to be legally permissible in Canada in 2019.
Closing of the transaction is expected before 30 September 2018.
Molson Coors Brewing Company said that its Canadian business unit has entered into an agreement to develop cannabis-infused beverages, following legalization. Marijuana use in Canada will become legal later this year.
Molson Coors Canada is teaming with leading Canadian cannabis producer, The Hydropothecary Corporation (HEXO), to form a joint venture, to pursue opportunities to develop non-alcoholic, cannabis-infused beverages.
The joint venture will be structured as a standalone start-up company with its own board of directors and an independent management team. Molson Coors Canada will have a 57.5 percent controlling interest in the JV, with HEXO having the remaining ownership interest.
The new company will combine the proven beverage experience of Canada’s leading brewer with a recognized innovator in the fast-growing cannabis sector to explore the highly anticipated consumable cannabis market, which is expected to be legally permissible in Canada in 2019.
Closing of the transaction is expected before 30 September 2018.
No comments:
Post a Comment