Molson enters into joint venture to develop cannabis-infused beverages

Recreational marijuana is set to become legal in Canada on Oct.17

Molson Coors Canada, the business arm of Molson Coors Brewing Co., says it has entered into a joint venture to develop non-alcoholic, cannabis-infused beverages.

Recreational marijuana is set to become legal in Canada on Oct.17, but edible products infused with pot will remain illegal until specific government regulations are rolled out in 2019 at the earliest.

The brewer says the venture with The Hydropothecary Corporation (HEXO) will be a standalone start-up with its own board and management team, with Molson Coors Canada having a 57.5 per cent interest and HEXO holding the balance.

The joint venture is subject to various approvals conditions and is scheduled to close before Sept. 30.

HEXO, based in Gatineau, Que., currently has more than 300,000 square feet of production capacity with an expansion more than three times that size to be completed by the end of the year.

“While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic, cannabis-infused beverages,” said Molson Coors Canada president and CEO Frederic Landtmeters.

“Molson Coors Canada has a unique opportunity to participate in this exciting and rapidly expanding consumer segment,” he said.

“We are excited about this partnership with Molson Coors Canada … as we embark on the journey of building a brand new market,” added HEXO CEO and co-founder Sebastien St-Louis.

The Canadian Press

Like us on Facebook and follow us on Twitter.

Just Posted

County council tweaks meeting times for 2019

Council, Planning and Public Works meetings defined Nov. 6

BREAKING: Calgary Police receive multiple bomb threats

Similar threats received across Canada and the United States

Red Deer Cookies a big hit for Christmas

If you want a change, try chicken lasagna

Mandatory curtailment is a tough call…but what else can Alberta do?

Environmentalists, various levels of government and courts devestate energy industry

County of Wetaskiwin council balks at $5,000 aboriginal course

Councilors concerned about $800 per person charge for certain courses

Cannabis gift ideas for this holiday season

Put the green in happy holidays, now that cannabis is legal in Canada

Some Kotex tampons recalled in Canada and U.S.

In some cases, tampon users sought medical attention “to remove tampon pieces left in the body.”

Sex-assault squad investigated eight incidents at Toronto all-boys’ school

The interim president of a Roman Catholic all-boys school rocked by student-on-student abuse allegations said the football program was cancelled for next year.

Coal power in Canada must disappear by the end of 2029, new regulations say

Canada has significantly cut its dependence on coal largely due to the closure of all coal plants in Ontario.

‘Naive approach’ to China at fault in Meng mess: Scheer

Conservative Leader Andrew Scheer called on the Trudeau government to “unequivocally denounce any type of repercussions to Canadians on foreign soil.”

Omar Khadr ‘a model of compliance,’ wants changes to bail conditions: lawyer

Former Guantanamo Bay detainee Omar Khadr is back in court today to seek changes to bail conditions.

Supreme Court upholds Canada’s right to reargue facts in assisted-dying case

Julia Lamb and the B.C. Civil Liberties Association are spearheading a challenge of the law

Guards injured, money stolen during overnight blast at Edmonton bank

Alberta Health Services said the injuries to the male guard were serious

‘I thought I was dead as soon as I saw the gun’

Keremeos gas station attendant tells story about man with gun coming to store

Most Read