Truss Beverage, a cannabis drinks joint venture (JV) between Molson Coors Brewing Company (NYSE:TAP,TSX:TAP) and a Canadian marijuana producer, has unveiled its line of products.
On Thursday (October 17), Truss confirmed to the market that it will partner with Flow Alkaline Spring Water to launch a line of cannabidiol (CBD) water.
“We know CBD products are in high demand in Canada, especially within the growing self-care space. The Truss product portfolio will include a range of products with CBD, THC or both,” Brett Vye, CEO of Truss Beverage, said in a statement.
The line of drinks from Truss made in partnership with Flow Alkaline Spring Water represents only a portion of the total offerings from the JV.
“With more than 80 percent of the Truss portfolio of products being low-to-mid level dose, we’ll offer safe, consistent and unique beverages for every adult consumer and a full range of occasions,” Vye said.
The announcement was made on the same day that edibles and infused cannabis products were legalized in Canada.
These products, including the newly announced Truss drinks, won’t become available until mid-December due to regulation standards in Canada.
Health Canada, the country’s federal agency overseeing the marijuana industry, has put in place a 60 day review period for new cannabis products. This means any new products will be available for sale on December 17 of this year at the earliest.
“It is expected that a limited selection of products will appear gradually in physical or online stores, and no earlier than mid-December 2019,” Health Canada said in June.
Cannabis-infused drinks have gained the collective attention of investors as several producers have placed heavy bets on the popularity of this product category.
“Big alcohol and beverage companies are very interested and believe that there’s something there that matches their product line,” Elliot Johnson, chief investment officer and chief operating officer with Evolve Funds Group, previously told the Investing News Network.
“I think the larger licensed producers that can … will have a portfolio of products, and different brands will speak to different consumers,” said Emma Andrews, chief commercial officer of BevCanna (CSE:BEV).
Shares of HEXO in Toronto and New York jumped 17 percent in value on Thursday to close at C$2.89 and US$3.81, respectively. Molson Coors also rose to close the trading session at a price of US$57, representing an increase of 1.21 percent.
Overall, marijuana stocks noticed a boost on Thursday thanks to the second phase of legalization.
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Securities Disclosure: I, Bryan Mc Govern, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: BevCanna is a client of the Investing News Network. This article is not paid-for content.
The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.
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.
BioHarvest Sciences Inc. Unveils the Unique Polyphenolic Content of Its Upcoming Olive-Based Nutraceutical
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.
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).
Canopy Growth to Participate in BofA Securities Virtual Consumer & Retail Technology Conference on March 11, 2021
Canopy Growth Corporation (TSX: WEED) (NASDAQ: CGC) (“Canopy Growth” or “the Corporation”) announced today that EVP & CFO Mike Lee will be participating in a fireside chat at the BofA Securities Virtual Consumer & Retail Technology Conference on Thursday, March 11, 2021 at 9:30am ET .
Hill Street Beverage Company Inc. (TSXV: BEER) (“Hill Street” or the “Company”). The Company announces that further to its press release dated March 2, 2021, it has obtained TSX Venture Exchange approval to extend the closing date of its previously announced private placement of units (“Units”) until April 7, 2021. Each Unit is comprised of one (1) common share and one (1) warrant, exercisable for one common share at price of $0.11 per share, for a period of three (3) years from the date of Closing. The Company applied to extend the date of closing to allow a greater number of interested investors to participate.
For more information regarding the Company or the offering, please contact firstname.lastname@example.org, or