Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”), announces that it has signed a non-binding Term Sheet with Molecule Holdings Inc. (CSE: MLCL) to produce select cannabis infused beverages for Hill Avenue Cannabis Co., the wholly owned subsidiary of Hill Street created to manage its business in the legal cannabis segment. The Notice of New Product Introduction to Health Canada was filed on October 1, 2020 for the first beverages to be produced by this partnership. This begins the sixty-day notice period wherein the two companies can begin arranging sales and distribution agreements with provincial regulators and independent retailers.

The three year long agreement will include both formulating and manufacturing beverage products using proprietary infusion technologies provided either by Molecule or Hill Street‘s previously announced Joint Manufacturing Partnership with Lexaria Biosciences, once Hill Street‘s Cannabis Processing Facility has been licensed by Health Canada under the Cannabis Act.

Molecule operates a 15,000 sq. ft. state-of-the-art cannabis beverage manufacturing facility located in Lansdowne, Ontario, which has been fully licensed for sales of cannabis 2.0 products including edibles and beverages. It is anticipated that Hill Avenue Cannabis beverages will be available to purchase during the holiday season in select provinces and expanding nationally in 2021.

Terry Donnelly, Chairman & CEO of Hill Street, commented, “We are delighted to expand our manufacturing strategy to include Molecule, given their tremendous knowledge and expertise in beverage formulation, innovation, development, and manufacturing. Their areas of expertise complement ours and we are very much looking forward to working with them to create a portfolio of world class beverages.”

Philip Waddington, President & CEO of Molecule Inc., stated, “Hill Street is a renowned leader in the alcohol-free beverage market. We are pleased and excited to be entering into this partnership with such a reputable company, led by an extremely capable team.”

Hill Street Beverage Co. has been an advocate for healthier alternatives to alcohol since its launch in 2008, gaining distribution in retail stores accounting for over two thirds of all grocery sales in Canada, generating increasing online sales in both Canada and the USA, and producing world class private label alcohol free wine for the most demanding retail clients. Its award-winning beverages have been featured in national media, and the company has presented its vision for alcohol-free and cannabis-infused beverages at conferences around the world during the past three years. The Company is the co-founder of the Cannabis Beverage Producers’ Alliance, which advocates for fair and just legislation for beverages including cannabis and hemp extracts. Hill Street owns a joint manufacturing partnership with Lexaria Bioscience to produce fast-acting, water-soluble, and shelf-stable ingredients made from cannabis extracts for the global Cannabis 2.0 market. Hill Street‘s wholly owned subsidiary, Hill Avenue Cannabis Co., is currently constructing a leading edge cannabis and hemp oil transformation facility to produce these ingredients, which will be used to create the finest edible and topical products including infused beverages, drink mixes, tablets, capsules, water soluble powder to be used as an ingredient in a multitude of products.

About Hill Street Beverage Company Inc. (TSXV: BEER)

Hill Street Beverage Company is the world’s most award-winning company focused on alcohol-free beer, wine, and adult-format beverages. Hill Street‘s brands include Hill Street Craft Brewed Lager, Vin(Zero), and Vintense wines, and have won numerous medals and accolades around the world. Hill Avenue Cannabis, the Company’s wholly-owned subsidiary, will produce and sell cannabis-infused adult beverages and other cannabis products with expected distribution in Canada at licensed outlets in 2020. Check out Hill Street‘s award-winning line-up and order products to be delivered straight to your home at www.hillstreetbeverages.com.

About Molecule Holdings Inc. (CSE: MLCL)

Molecule works with client-partners to engage in the production of cannabis-infused beverages and edibles. We provide the infrastructure, know-how, technology, and licensing for craft producers to create consumable cannabis products. Molecule’s goal is to be the on-ramp for companies wishing to enter into the cannabis beverage and edibles market, but who choose not to go through the significant process of obtaining the required cannabis licences.

For further information:
Terry Donnelly, Chairman and CEO, Hill Street Beverage Company Inc.,
terry@hillstreetbevco.com, (416) 543-4904;

Follow Hill Street on Twitter https://twitter.com/hillstreetbevco
and on Facebook http://facebook.com/hillstreetbevco


Statements in this press release may contain forward-looking information. Any statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Forward-looking statements are often identified by terms such as “may”, “should”, “anticipate”, “expects”, and similar expressions. The reader is cautioned that assumptions used in the preparation of any forward-looking information may prove to be incorrect. Events or circumstances, such as future availability of capital on favourable terms, may cause actual results to differ materially from those predicted, as a result of numerous known and unknown risks, uncertainties, and other factors, many of which are beyond the control of the Company. The reader is cautioned not to place undue reliance on any forward-looking information. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this press release are expressly qualified by this cautionary statement. The forward-looking statements contained in this press release are made as of the date of this press release. The Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as required by securities law.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/65996

News Provided by Newsfile via QuoteMedia

American cannabis sales hit US$17.5 billion in 2020, a research group’s new study shows.

Meanwhile, a Canadian cannabis producer began offering CBD beverages in the US, another move that shows how interested Canadians are in the overall US cannabis market at the moment.

Keep reading... Show less

An Emerging Markets Sponsored Commentary

Some pretty important news out of health and wellness; beverage and natural products company BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC) this week. For those of you following the Company with us, stay tuned.

Keep reading... Show less

As investors continue to prioritize cannabis opportunities in the US, market watchers expect mergers and acquisitions (M&A) to play a role in the future for Canadian companies.

A consolidation trend has been expected in the Canadian cannabis space for some time now based on the size of the market compared to the number of operations in the country.

Keep reading... Show less

The product will include polyphenols known to have significant health benefits.

BioHarvest Sciences Inc. (CSE: BHSC) (“BioHarvest” or the “Company”) has reached an important milestone in its development program of additional Nutraceuticals. The olive-based Nutraceutical product scheduled for market availability in the second half of 2022 will contain the following unique matrix of polyphenols: hydroxytyrosol, trosol, and verbascoside. These compounds are the major polyphenols in naturally grown olives and are responsible for the high antioxidant activity of olives and olive oil. Importantly, the BioHarvest olive-based Nutraceutical product will provide all the benefits of olives and olive oil with a low calorie count per serving.

Keep reading... Show less

Cresco Labs (CSE:CL) (OTCQX:CRLBF) (“Cresco” or the “Company”), one of the largest vertically integrated multistate cannabis operators in the United States, announced today that it will report financial results for the fourth quarter and full year ended December 31 st , 2020 on Thursday March 25 th , 2021 before the market opens.

The Company will host a conference call and webcast to discuss its financial results and provide investors with key business highlights on Thursday March 25 th , 2021 at 8:30am Eastern Time (7:30am Central Time).

Keep reading... Show less