Moosehead Breweries High on Cannabis-Infused Drink Deal

Article by Bobbi-Jean MacKinnon, CBC News

New Brunswick Moosehead Breweries high on cannabis-infused drink deal Social Sharing Facebook Twitter Email Reddit LinkedIn Brewery announces joint venture with Sproutly Canada to develop line of non-alcoholic 'rapid onset' beverages Bobbi-Jean MacKinnon · CBC News Andrew Oland, CEO of Moosehead Breweries, said the 152-year-old company is 'very selective' about new business opportunities and excited about entering the cannabis beverage market with Sproutly Canada. (CBC)

New Brunswick-based Moosehead Breweries Ltd. is getting into the cannabis-infused beverage business, teaming up with Sproutly Canada Inc. to develop a line of non-alcoholic “rapid onset and offset” drinks.

Moosehead, the oldest and largest independently owned brewery in Canada, announced the joint venture with the cannabis company on Tuesday.

They have entered a “definitive agreement” to develop, produce and market all-natural cannabis-infused beverages using Sproutly’s naturally produced water-soluble cannabinoids known as Infuz2O.

With Sproutly’s technology and Moosehead’s experience developing products, the goal is a beverage that tastes good and provides an “immediate and controllable cannabis experience,” Moosehead CEO Andrew Oland said in a release.

The “experience” would take effect in about five minutes and last up to 90 minutes — similar to traditional flower cannabis, the release said.

Matthew Oland, a senior Moosehead executive who will serve as CEO of the joint venture, described it as a “game changer for the sector.”

The legalization of edibles is expected in Canada by Oct. 17. Ottawa has finished a consultation process for its proposed rules but has not yet released the final version.

Moosehead and Toronto-based Sproutly expect to form the new standalone beverage company by May 31.

No information about how soon the new products will be available has been released.

More details soon

They will be sold through provincially regulated and permitted online and retail storefronts, but Oland declined to say where.

Read the full article here.

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