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

Sound of Prince Rupert’s cherry trees to be played around the world

Salvaged wood from chopped sakura trees is being crafted into taiko drum sticks

The Postmen collect 45 boxes of supplies for wildfire relief

Prince Rupert donations of food, water and toilet paper to be delivered to Burns Lake first

Coastal police unit operating with half its members

RCMP report to Port Edward council reveals low numbers on the coastal force

In Our Opinion: How to lose an ammonia tank— ask the city

How did a 68kg cylinder of ammonia remain unseen after multiple audits and assessments

Donation drop off tonight for B.C. wildfire victims

The Postmen have set up a three-day depot at the Moose Hall in Prince Rupert for disaster relief

This Week Podcast – Episode 98

From the Prince Rupert Golf Club, catch up on sports, entertainment and news highlights

The Northern View 2018 Readers Choice

Vote online or at the Prince Rupert office before noon on Sept. 7

Red Cross now accepting donations for those impacted by B.C. wildfires

The Canadian Red Cross is asking for help now and in the weeks and months ahead.

B.C. program to educate parents reduces ‘shaken baby syndrome’ by 35%

Period of PURPLE Crying was launched nearly a decade ago

B.C. golfer, just 23, scores the rare albatross

Six-million-to-one shot a first for the Terrace club

Fredericton widow swears at Trudeau during condolence call

Widow of man killed in Fredericton shooting says she swore at Trudeau during condolence call.

Tim Hortons promises leaky lids on coffee cups to be phased out

Tim Hortons looks to rebuild its brand with better lid, new marketing campaign

‘There’s been a lot of devastation:’ man whose family lost homes in B.C. fire

The provincial government declared a state of emergency Wednesday as more than 550 wildfires burn in every corner of B.C.

Capsized tug now out of the water at the mouth of B.C.’s Fraser River

The 19-metre-long George H. Ledcor capsized late Monday.

Most Read