Canadian companies gear up for cannabis-infused market before legalization

, Canadian companies gear up for cannabis-infused market before legalization

Canadian companies are getting a head start on the country’s marijuana-infused beverages industry, even before legislation has been introduced to legalize THC-added products.

Companies are turning to cannabidiol, which does not have psychoactive effects and is already legal, to get a leg up on competitors.

Recreational cannabis flower and oil are expected to be legalized in Canada by the end of this summer, while the government has committed to legalizing THC-infused edibles and beverages by mid-2019.

Infused beverages have been getting more attention from executives and investors.

Ontario’s WeedMD and British Columbia-based Phivida formed a “joint venture focused on cannabis-infused consumer products” to prepare for what is expected to grow into a billion-dollar market in the coming years. Their drinks will be infused with CBD.

A former Coke and Molson Coors executive who recently joined Canada’s cannabis industry predicted that marijuana companies will give alcohol firms a run for their money.

Sensing a competitive market, “virtually all alcohol companies are very carefully looking at the cannabis space and looking to partner in some shape or form,” Torsten Kuenzlen said after taking the helm of Alberta-based Sundial Growers.

Last month, Smiths Falls, Ontario-based Canopy Growth said it is working with Constellation Brands, the owner of Corona Beer, on cannabis-infused beverages.

Another Canadian firm heavily invested in infused beverages is Tinley Beverage Co., which is based in Toronto but mostly markets its products in California.

WeedMD is traded on the TSX Venture Exchange under the symbol WMD.

Phivida and Tinley are traded on the Canadian Securities Exchange as VIDA and TNY, respectively.

Canopy’s shares are traded on the Toronto Stock Exchange as WEED.

Matt Lamers can be reached at [email protected]

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4 comments on “Canadian companies gear up for cannabis-infused market before legalization
  1. Bella Dushner on

    I’m one of the people who want marijuana to be legalized, some city have been approved it but some are not and still in the discussion if they will or no. But I think this can be legalized because it has a good effect in our community especially in a medical way. As i read this i know that it can help all of us soon when it is legal in our country. Just saying.

  2. MJ Seeds Canada on

    Ever since I’m a big fan of Marijuana. That’s why I have no hesitation and will fight for the Legalization of Marijuana, and I will never stop until it’s done.

  3. Maxcatski on

    CBD is NOT yet legal in Canada regardless of what the author thinks. There is an exception for legal medical users where all cannabis products are legal including infusions and concentrates.

    Please check your facts and get it straight.

    A legal Canadian medical user

    PS: Good luck with your legalisation efforts, USA, but you will never catch us now. Bwahaha, Canada.

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