Molson Coors joins Quebec-based cannabis company for infused beverages

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Molson Coors is the next major beer company in line to develop a non-alcoholic, cannabis-infused beer.

The brewing company announced Wednesday that it has partnered with Quebec-based cannabis company Hexo to create the beverages.

The Hydropothecary medical marijuana company recently renamed itself Hexo but will go by the Hydropothecary moniker for its already established medical line of products. Hexo will be used for their recreational products.

The yet to be named joint venture between the two organizations will operate as a standalone company with its own board of directors and management. According to a press release, Molson Coors will control 57.5 per cent of the company while Hexo will own the rest.

“There are some cannabis-infused drinks out in some of the illegal markets in the U.S.” said Sébastien St-Louis, founder and CEO of Hexo. “But nothing has ever been attempted to the level of quality that we’re designing here in this partnership.”

The regulatory framework for both edible and drinkable cannabis won’t be in place until likely the middle of 2019, but both companies are confident that they will be able work through the transition.

“We care a lot about responsibility, have always done so in the space of alcohol [and] will continue to do so in the space of cannabis,” said Molson Coors president and CEO Frederic Landtmeters. “One of the things that has impressed us … with Hexo is they really share that value.”

“While we remain a beer business at our core, we are excited to create a separate new venture with a trusted partner that will be a market leader in offering Canadian consumers new experiences with quality, reliable and consistent non-alcoholic cannabis-infused beverages.”

It’s expected that the deal between the two companies will be finalized by the end of September.

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