Molson Coors Canada, the business unit of Molson Coors Brewing Company announced Wednesday that it has entered into a joint venture to develop non-alcoholic, cannabis-infused beverages for the Canadian market following legalization.
The brewer says the joint venture with Canadian cannabis producer The Hydropothecary Corporation (HEXO) will be structured as a standalone start-up with its own management team, with Molson Coors Canada having a 57.5 per cent controlling interest and HEXO having the remaining ownership interest.
Recreational cannabis is set to become legal in Canada on October 17, 2018 – however, edible pot products will remain illegal until the federal government rolls out regulations some time in 2019.
Gatineau, Quebec-based HEXO currently operates with more than 300,000 square feet of production capacity with an additional 1,000,000 square feet of expansion set to be completed by the end of the year.
