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

Yellow Vest movement rallied in Vernon Saturday

Protesters took to the steps of the Vernon courthouse Saturday.

Column: Star Gazing: Binoculars for Christmas

Looking for a Christmas gift for your astronomer?

Christmas wish for Mirielle: love and carpets

Mirielle was born with misshapen back legs and after a tough life on the streets, is looking for a forever home.

Student view: Penticton senior dishes on high school life

Kevin Styba-Nelson is a Grade 12 student at Princess Margaret Secondary School

Vegan chocolatiers set up shop in Penticton

Celine Nativel and David Mullner, of Maison Mulnati French Vegan Chocolates, discuss their craft

Yellow Vest movement rallied in Vernon Saturday

Protesters took to the steps of the Vernon courthouse Saturday.

Shuswap tennis club’s indoor facility construction moving at a smooth clip

Volunteer support has been crucial, opening expected in April 2019.

Yellow Vest movement rallied in Vernon Saturday

Protesters took to the steps of the Vernon courthouse Saturday.

Man dies after falling from B.C. bridge

Intoxicated man climbed railing, lost his balance and fell into the water below

B.C. animation team the ‘heart’ of new ‘Spider-Man: Into the Spider-Verse’

The animators, largely based in Vancouver, ultimately came up with a creative technique that is drawing praise

Light at the end of the tunnel for UN climate talks

Meeting in Katowice was meant to finalize how countries report their emissions of greenhouses gases

Janet Jackson, Def Leppard, Nicks join Rock Hall of Fame

Radiohead, the Cure, Roxy Music and the Zombies will also be ushered in at the 34th induction ceremony

Supreme Court affirms privacy rights for Canadians who share a computer

Section 8 of the Charter of Rights and Freedoms protects Canadians against unreasonable search and seizure

B.C. fire chief pleads with Ottawa for traumatic stress support

Campbell River fire chief Thomas Doherty presented concerns to federal government

Most Read