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

Prominent Chilliwack realtor says he doesn’t know how child porn got on his computer

Closing arguments heard in Ian Robert Meissner’s trial for accessing and possessing child pornography

More people in Chiliwack coming in to shelters to get out of the cold

Ruth and Naomi’s went over-capacity this week to accommodate shelter guests coming in from the cold

Q&A with federal Liberal Minister of Infrastructure and Communities

Francois-Philippe Champagne visited the Chilliwack Chamber of Commerce on Feb. 123

Mini Med School events are slated for March

Free info sessions allow attendees a chance to talk face-to-face with local medical professionals

Agassiz break and enter suspect arrested

The Chilliwack man faces charges relating to break and enters throughout Agassiz

VIDEO: Historic night in Red Deer as 2019 Canada Winter Games kicks off

Star-studded Opening Ceremony features athletes from across Canada

Ontario police field complaints over Amber Alert for missing girl, 11, found dead

Some said the Amber Alert issued late Thursday for Riya Rajkumar disrupted their sleep

Man taken to hospital for smoke inhalation, burns after fire at RV park

Firefighters find man suffering from smoke inhalation, burns to face and hands: battalion chief

Northern B.C. First Nation clan says ancient tools found at pipeline work site

Archeologists from the Smithsonian Institute estimate one of the stones found dates back up to 3500 years

Wilson-Raybould resignation stokes anger, frustration within veterans community

Liberals have had three veterans-affairs ministers — Kent Hehr, Seamus O’Regan and Wilson-Raybould

No Center of Gravity festival in Kelowna this summer: organizers

COG organizers said the hope is to return to the Okanagan in 2020

Names keep adding to vaccine petition started by B.C. mom

Maple Ridge mom started campaign to make vaccination a condition of attending school

Eight cases of measles confirmed in Vancouver outbreak

Coastal Health official say the cases stem from the French-language Ecole Jules Verne Secondary

Most Read