fbpx Cannara Biotech enters cannabinoid-infused beverage product category

Cannara Biotech enters cannabinoid-infused beverage product category

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Montreal-based Cannara Biotech Inc. has entered into a letter of intent with a leading Quebec microbrewery to develop cannabinoid-infused beverages.

Once consumers are able purchase edibles and beverages—with related regulations expected to take effect in October—they will have access to “a variety of cannabinoid-infused beverages, including non-alcoholic beer, kombucha and cider,” notes a statement from Cannara Biotech, which is building a vertically integrated cannabis company focused on cultivation and cannabis-infused products.

The agreement “underscores our commitment in building Cannara Biotech into a premium Canadian cannabis company by leveraging our facility’s unique size and flexibility, partnering with industry leaders and supporting these joint ventures with both financial and human capital,” says company president and CEO Zohar Krivorot.

Cannara Biotech is building the largest indoor cannabis cultivation facility in Quebec, measuring 625,000 sq. ft. less than 45 minutes from Montreal.

“In addition to non-alcoholic cannabinoid-infused beer, this is the first of many partnerships that we intend to use the facility to execute our collaboration strategy to produce edibles, pet products, cosmetics and other beverages for the Canadian market,” the press release states.

Canaccord Genuity forecasts that cannabinoid-infused beverage sales will reach $260 million for North America by 2022, the statement notes.


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