The cannabis beverage space is welcoming new players ahead of the legalization of edible and infused products in Canada next month.
RavenQuest BioMed (CSE:RQB,OTCQB:RVVQF) announced on Monday (September 16) it signed a joint venture agreement with the BC-based Not-So-Gentle Tea Company to develop a line of tetrahydrocannabinol- (THC) and cannabidiol-infused (CBD) tea products to be sold in Canada.
In a press release, RavenQuest CEO George Robinson said his company plans on leveraging Not-So-Gentle’s established brand with the engagement from the company’s existing customer base.
“As Canada’s legalization of edibles and beverages draws near, specialized tea is a great initial foray into the beverage segment because many recreational stores have limited space for bottled inventory,” Robinson said.
The executive added the lines of THC- and CBD-infused teas will offer consumers a “discreet” way to access cannabis beverages.
The BC-based licensed producer currently has production facilities in Markham, Ontario, and Edmonton, Alberta, the former of which received the company’s first cannabis sales license from Health Canada in May this year.
BevCanna Enterprises (CSE:BEV) also announced a move into the cannabis-infused drink space on Monday. The BC-based cannabis beverage company said it was entering a supply agreement with Nextleaf Solutions (CSE:OILS,OTCQB:OILFF) to access the company’s portfolio of high-quality cannabinoid-rich distillates.
Nextleaf is giving BevCanna exclusive rights to use its water-soluble cannabinoids to develop and sell branded BevCanna products as well as drinks made for third parties.
Product commercialization is set to launch within 12 months of the legalization of edibles in Canada; the agreement will extend to three years after October 17, when edible legalization is set to go into effect, with a subsequent five year renewal period.
Dixie Brands also came out with a partnership between itself and drink maker AriZona Beverages to create a line of THC-infused beverages last month.
Cannabis drinks are setting up to be a lucrative space in the industry. A June report from Deloitte projected the cannabis-infused beverage market could rake in C$529 million in Canada. Globally, the cannabis drinks market is expected to reach US$4.46 billion by 2025, according to a report from Zion Market Research.
While edible products are set to be legalized next month, customers won’t be able to purchase them until mid-December, according to Health Canada.
Shares for RavenQuest saw a bit of fluctuation during the trading day, dropping to C$0.38 by mid-morning after opening at C$0.40. As of 12:30 p.m. EDT, prices were back at C$0.40.
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Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: BevCanna Enterprises and Nextleaf Solutions are clients of the Investing News Network. This article is not paid-for content.
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.
Numinus Bioscience adds Ketamine and LSD to licence to produce, assemble and sell a wide variety of psychedelic compounds
Numinus Wellness Inc. (“Numinus” or the “Company”) (TSXV: NUMI ), a global leader in supporting and expanding the safe, accessible and evidence-based use of psychedelic-assisted psychotherapies (PAP), has received new amendments under Canada’s Controlled Drugs and Substances Act that enhance the Company’s ability to lead psychedelics research and support the global psychedelics sector.
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 email@example.com, or