Cannara Biotech Enters Cannabinoid-Infused Beverage Product Category

Published: February 8, 2019

Cannara Biotech Enters Cannabinoid-Infused Beverage Product Category

Cannara Biotech Inc., a Montreal-based company that is building a vertically integrated cannabis company focused on cultivation and cannabis-infused products, has entered into a letter of intent with a leading Quebec microbrewery to develop cannabinoid-infused beverages. Following the regulations relating to edibles and beverages coming into effect next October, consumers will be able to purchase a variety of cannabinoid-infused beverages including non-alcoholic beer, kombucha and cider.

“Many of the world’s most successful beverage companies have aggressively invested in Cannabinoid-infused product development underscoring this product category’s market potential,” said Zohar Krivorot, President and CEO of Cannara Biotech. “This agreement also underscores our commitment in building Cannara Biotech into a premium Canadian cannabis company by leveraging our facility’s unique size and flexibility, partnering with industry leaders and supporting these joint ventures with both financial and human capital.”

Cannabinoid-infused beverage sales are forecasted to reach $260 million for North America by 2022, according to Canaccord Genuity. In addition to non-alcoholic cannabinoid-infused beer, this is the first of many partnerships that we intend to use the facility to execute our collaboration strategy to produce edibles, pet-products, cosmetics and other beverages for the Canadian market.

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