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

Charges upgraded against mother of murdered Langley girl

Kerryann Lewis now faces first- rather than second-degree murder in the death of Aaliyah Rosa.

WATCH: Farm Country Brewing in Langley City expected to open in summer

Farm Country Brewing is currently under construction and is planned to open in summer 2019.

LETTER: Langley letter writer takes jabs at mayor’s jersey choice

A sports fan chides Langley City’s mayor for sporting an Oilers jersey in Canucks country.

LETTER: Local Liberal MP challenges letter writer’s facts on immigration

The local MP makes the distinction between asylum seekers, immigrants and refugees.

Dr. Keith Lamont, founder of Langley Community Music School, passed away at age 89

Dr. Keith Lamont’s funeral service is on Jan. 20 at the Langley Community Music School

VIDEO: U.S. Congress to probe whether Trump told lawyer Cohen to lie

At issue is a BuzzFeed News report that about negotiations over a Moscow real estate project

Rookie Demko backstops Canucks to 4-3 win over Sabres

Young Vancouver goalie makes 36 saves to turn away Buffalo

UPDATE: Injured firefighter in stable condition

Kelowna fire crews responded to a blaze at Pope’sGallery of BC Art & Photography on Friday

Book a ride on a driverless shuttle in Surrey or Vancouver

Automated vehicle demos are being offered, as the two cities plan pilot projects with the shuttles

Heavy snowfall expected on the Coquihalla

Snowfall warning in effect for the Coquihalla Highway, from Hope to Merritt

Rare ‘super blood wolf moon’ takes to the skies this Sunday

Celestial event happens only three times this century

Arrest made after historic B.C. church hit by arson

The fire at the 150-year-old Murray United Church in Merritt was considered a possible hate crime

Missing man from Crowsnest Pass could be in Lower Mainland

58-year-old Stuart David Duff was last seen on Jan. 6, 2019.

B.C. dangerous offender in court for violating no-contact order, sends letter to victim

Wayne Belleville was shocked to see a letter addressed to him from his shooter, Ronald Teneycke

Most Read