LGC Capital (TSXV:LG) announced it signed a letter of intent with Creso Pharma Limited and Baltic Beer Company Ltd to develop a portfolio of cannabis- and hemp-derived alcoholic and non-alcoholic beverages.
As quoted in the press release:
The new joint venture company will include the following board members: Dr. Miri Halperin Wernli of Creso Pharma, John McMullen of LGC, and Alex Klaos of Baltic Beer Company Ltd, whose role will be to oversee the day-to-day operations of the new entity to ensure product development, growth targets and distribution reach are achieved.
Research and development work has already started in Switzerland, Estonia and the United Kingdom on a premium craft beer range containing unique terpenes mixes mimicking the terpenes of the cannabis plant. Terpenes are essential oils (organic compounds) found in plants that carry flavour and aroma.
The terpenes in the beer will carry the characteristic odour and fragrance of cannabis with the same taste and feel but will not contain THC or CBD or any other cannabinoids. The terpene mixes used to formulate the beers will have the smell and aroma of cannabis but in reality they originate from other plants mimicking the special mixtures. This is a significant advantage as it avoids the issue of regulatory restrictions.