LONDON, April 8, 2019 /HalcyonTV/ -- This June, London will play host to the first official European Cannabis Week, a series of events delving into all aspects of Europe's emerging medical cannabis industries, the CBD boom and the politics and culture of this once controversial plant.
Taking place at various venues across the capital from 23rd to 29th June, speakers will discuss topics including politics, science, health, patient needs, advocacy, investment and culture while networking and enjoying the best the city has to offer.
European Cannabis Week will be the first major showcase of Europe's emerging legal CBD and medical cannabis industries and the first major set of cannabis events in the UK since the government legalised medical cannabis. The series of events will take place against a backdrop of major global policy change, as a number of European governments move to overhaul the continent-wide moratorium on cannabis and WHO re-examines their position on medical cannabis.
While medical cannabis may be the hot topic at the moment, CBD is still firmly on the agenda, as the European Parliament looks at changing its legislation.
Alastair Moore, COO of European Cannabis Week explained the need for such an event:
"Legislation in Europe is changing at a rapid pace and the private sector is evolving to serve the ever-growing demand for medical cannabis. Sixteen European countries have now legalised medical cannabis and with a total market of over 740 million people, Europe will become the largest value cannabis market in the world. European Cannabis Week will drive this growth, bringing together the people, brands and organisations that will shape the emerging European market."
Further information detailing speakers, brands and venues will be released soon. To stay up to date, sign up to our mailer on the ECW website.
To apply for press passes, email email@example.com - Please note that places are limited.
Cannabis Europa London will be the headline event of the week, but media accreditation will be separate.
To apply for a press pass, or for any media-related inquiries please email Press@ecwevents.com
About European Cannabis Week
A first for Europe, a first for London and a first for the cannabis industry. European Cannabis Week is a carefully curated series of events that showcase the depth of talent, opportunity and excitement of the European cannabis industry. The diverse programme of talks and events will explore the culture, politics, health, science and business behind the emergent cannabis industry in Europe, featuring a diverse roster of speakers from across the world. Hosted from June 23rd to 29th the festival takes place in venues across London, a European hub for finance, culture and creativity.
Dixie Brands Expands Industry-Leading Cannabis-Infused Product Portfolio with New Pulled Taffy Product "Dixie Bursts"
DENVER, April 5, 2019 /CNW/HalcyonTV- Dixie Brands Inc. ("Dixie" or "the Company") (CSE: DIXI.U), (OTC: DXBRF), (Frankfurt: 0QV), one of the cannabis industry's leading consumer packaged goods (CPG) companies, has announced plans to introduce a new confectionary product called Dixie Bursts™. The pulled taffy chews will be sold in assorted packages containing Blue Raspberry, Mango and Strawberry flavors. Each individually-wrapped Burst will contain 10 milligrams of tetrahydrocannabinol (THC).
"Dixie has been crafting quality infused-cannabis products for nearly a decade and is constantly seeking new ways to satisfy the evolving needs of our consumers who love to explore new flavors and formats," said Andrew Floor, Dixie's Vice President of Marketing. "We've had a phenomenal reaction to our latest innovation, Dixie Bursts, a hand-pulled taffy which is absolutely bursting with flavor and has a softer texture than the few comparable products in the market today."
Edibles are gaining popularity in jurisdictions where cannabis use is permitted, with sales growth rates outpacing those of dried flower. For example, according to BDS Analytics data for January 2019 in Colorado, one of the most mature cannabis markets in the U.S., sales of both flower and pre-rolled joints declined from one year earlier and now represent less than half of total sales. Sales of ingestibles in the state increased by 17% over the same period, with the candy sub-category growing by 25%.
Many consumers are attracted to a more discrete, portable option for cannabis consumption that does not involve the potential health risks associated with smoking. Packaged edible products offer precise dose control and longer-lasting effects, attributes that appeal to medical patients in particular, and many recreational consumers as well.
Dixie's strategy is to continue to expand its intellectual property portfolio, which is already among the most extensive of any cannabis-infused products company after nearly a decade of commercial sales and innovation. Dixie believes that a broader selection of products will strengthen its brand recognition, increase its attractiveness to dispensaries who prefer to deal with a smaller number of reputable and knowledgeable suppliers, and make it more appealing to current and prospective licensing partners in U.S. states and international markets.
Dixie Bursts will be available in indica, sativa and hybrid oil formulations, with each package containing 10 chews in Blue Raspberry, Mango and Strawberry flavor assortments. Bursts are free of gluten, dairy and nuts and like all Dixie products, they will be sold in child-resistant packaging with clearly marked doses. Dixie Bursts will be available in April in Colorado, and rolled out to additional markets in the following months.
Introducing the Most Accessible Advanced Technology Cannabis Experience
NEW YORK, April 4, 2019 /HalcyonTV/ -- Grenco Science, the pioneer in cannabis vaporization and counter-culture, has partnered with the California-based Old Pal to offer an easily accessible cannabis experience with the newest advanced technology vaporizer, the G Pen Gio. Combining old fashioned cannabis values with advanced technology vaporization, the Old Pal G Pen Gio is available for $25 on Eaze and at select retailers throughout California.
The Old Pal concentrates for the G Pen Gio, exclusive to Grenco Science, will be available in three varieties: Indica, Sativa, and Hybrid. Easy-to-use products like the G Pen Gio are gaining popularity as new consumers navigate the complex world of cannabis brands and gaining momentum over traditional flower purchases, according to a new study from Eaze. The G Pen Gio is a draw-activated vaporizer that features a cutting edge liquid cartridge system for smooth, natural pulls with maximum vapor density. Together, Grenco Science x Old Pal offers a cannabis experience that is easy to access, enjoy and share.
"Partnering our innovative hardware with Old Pal, we will be able to offer the most cutting- edge cannabis experience. Demand is high for the combination of discreet, easy to use, and affordable products. Combining Old Pal with the G Pen Gio, we will more than satisfy the demand with an experience that out performs any other product on the market," says Chris Folkerts, Founder and CEO of Grenco Science.
"Old Pal's alignment with Grenco Science represents the perfect partnership to grow the footprint of the brand as legal recreational consumption grows in popularity and prepares us for expansion into states that have yet to pass legal legislation. Outside of being the lowest cost provider of Gio pods, this partnership allows Old Pal to push our expansion efforts forward and assert both brand's position as multi-state operators," added Brett Fink, Old Pal's Senior Vice President of Business Development.
The launch of Old Pal for the G Pen Gio in California is just the beginning of a long-term partnership between Grenco Science and Old Pal.
About Grenco Science is a leader in engineering advanced cannabis vaporizers, setting new standards in aesthetics, portability, functionality, and user experience. Through proprietary research and development, as well as collaborations with influencers in music, art, and fashion, Grenco Science is transforming the cannabis experience and leading the movement to bring cannabis traditions to the 21st century. Visit gpen.com
ABOUT OLD PAL:
Old Pal is a lifestyle cannabis company focused on the value-oriented segment of the market. Through strategic partnerships within the trade, the brand has secured high quality, dependable production and distribution. With the incorporation of culture-focused design and marketing, Old Pal has defined a much-needed new space within the industry; a space curating an accessible lifestyle beyond stoner culture.
Winner to Appear on Popular Entrepreneur.com Web Series
TORONTO, March 28, 2019 /CNW/ HalcyonTV - O'Cannabiz, Canada's leading business-focused cannabis conference and expo, today announced the "Future of Cannabis" pitch-a-thon taking place on Friday, April 26th at 10:30am at The International Centre in Mississauga.
Cannabis startups are invited to apply for a chance to pitch a panel of esteemed judges from Canada's top investment funds including Narbe Alexandria, President of Canopy Rivers and Matthew Nordgren, Managing Director, Arcadian Fund and others to be announced. In addition to the opportunity to pitch live at the event, the winner will receive a "Golden Ticket" to appear on the fifth season of Entrepreneur.com's popular Elevator Pitch webcast, which boasts over 40 million viewers.
Sponsored and hosted by Leafwire, the most active social business network in the cannabis industry, the contest offers the next generation of cannabis innovators a once-in-a-lifetime opportunity to transform their vision into reality. With only eight finalists to be selected, and only three-minutes each to pitch, entrepreneurs are now invited to express their interest by sending a pitch deck to firstname.lastname@example.org.
"Leafwire's Pitch Contests have changed lives - the stakes are high,'' said Neill Dixon, President and COO of O'Cannabiz. "We're thrilled to be hosting the Toronto edition of this event and look forward to hearing what ground-breaking ideas are brought forward from the cannabis community".
"We're really excited to be part of O'Cannabiz for the second year in a row." said Peter Vogel, CEO of Leafwire. "The caliber of attendees at these events is top-notch and we're thrilled to be able to give a group of cannabis start-ups the chance to pitch and get exposure to this savvy and experienced group of cannabis professionals."
Click here to learn more about Leafwire's Future of Cannabis Pitch-A-Thon.
Click here for more information about the O'Cannabiz conference and expo.
Click here to apply for media accreditation for this event.
Cision is an official distribution partner of the O'Cannabiz Conference & Expo.
Favorable Regulations Put California at Forefront of Cannabis Delivery Services - Financialnewsmedia.com - News Commentary
PALM BEACH, Florida, March 27, 2019 /CNW/ -- What happens on the west coast of the U.S. has a way of being at the forefront of trends that will sprawl across the nation and the rise of home delivery services for legal marijuana is again one of those subjects. Both Oregon and California at present have authorized these services but it is California that is leading the race due to its more permissible regulatory environment. A recent Forbes article titled "A Tale Of Two Markets: Cannabis Delivery In California And Oregon" said: "Sure, we now have recreational cannabis in common. In certain regions in both states, you can even have it delivered to your home. But that's where the retail cannabis trends in California and Oregon differ most: the home delivery scene. In southern Californian cities, delivery is king. It was king before recreational laws even passed, when medical marijuana patients were able to have cannabis delivered prior to this year. The LA Times reports 128 permits have been issued throughout the state to marijuana retailers allowing them to deliver to homes" Active Companies from around the market with current developments this week include: Driven Deliveries, Inc., (OTC: DRVD), Tilray, Inc. (NASDAQ: TLRY), Newstrike Brands Ltd. (TSX: HIP) (OTC: NWKRF), HEXO Corp.(NYSE: HEXO) (TSX: HEXO), MedMen Enterprises Inc. (CSE: MMEN) (OTC: MMNFF).
An article in The Rolling Stone looked at California's advantage. It headline said: "Weed Delivery Officially Legal In California - Though it had been allowed under temporary regulations, the final rules will make it the only state to fully allow home delivery — no matter the local laws." It continued: "One of the most noteworthy policies allows dispensaries to make marijuana deliveries to any jurisdiction in California, even those municipalities which have passed local laws prohibiting cannabis. The rules guarantee legal protection to the more than 100 state-licensed "non-storefront" delivery companies and their customers in so-called pot "deserts"These approved regulations are the culmination of more than two years of hard work by California's cannabis licensing authorities," Lori Ajax, chief of the state Bureau of Cannabis Control, said in a statement.
Driven Deliveries, Inc., (OTCPK: DRVD) BREAKING NEWS: Driven Deliveries, the world's first and only publicly traded cannabis delivery company, announced today the launch of its new delivery model, Driven Direct. This will allow the Company to work directly with brands and retailers to deliver a broad range of cannabis products directly to consumers.
Driven Direct will be launching with multiple retail partners in California, and will offer delivery throughout the state covering major metro centers and the majority of the population.
Driven Direct's structure will resemble that of Amazon's delivery model. The program is designed to let entrepreneurs run their own local delivery networks featuring the Driven Deliveries logos. Each delivery unit will begin its day at a designated Driven station in California, where packages ordered from local retailers are then picked up by Driven Deliveries Inc. drivers and delivered direct to the consumer. Location-based algorithms will determine which packages are sent to these delivery stations.
The program is critical in addressing the retailers' primary transportation issue: last mile delivery. "Last Mile Delivery" is a term used in supply chain management and transportation planning to describe the movement of people and goods from a transportation hub to a final destination, in this case the consumer. In 2018, the Global Last Mile Delivery market size was $30.2 billion and it is expected to reach $55.2 billion by the end of 2025, with a CAGR of 9.0% during 2019-2025.
"Management is extremely pleased to unveil our new strategic delivery model, Driven Direct," stated Mr. Chris Boudreau, Chief Executive Officer of Driven Deliveries, Inc. "In addition to expanding our relationships with local cannabis retailers throughout the state, this program will allow us to significantly enhance our brand throughout the country's largest legal cannabis market." Read this and more news for DRVD at: https://www.financialnewsmedia.com/news-drvd/
In the industry developments and happenings in the market this week include:
Tilray, Inc. (NASDAQ: TLRY) Recent Developments: The National Association of Corporate Directors (NACD) announced the 2019 NACD Directorship 100, a list of the most influential leaders in the boardroom and corporate governance community. Included among this year's esteemed honorees is Christine St.Clare, a member of the Board of Directors and Audit Committee Chair for Tilray, a global pioneer in cannabis research, cultivation, production and distribution.
"We are thrilled to see Christine St.Clare honored for her achievements and invaluable contributions to the success of many companies, including Tilray, over the course of her impressive career," says Brendan Kennedy, Tilray President and CEO and member of the board. "Tilray is proud to have appointed one of the first majority woman-led board of directors in the cannabis industry and to have established thought-leaders like Christine on our team."
Newstrike Brands Ltd. (TSX: HIP.V) (OTCPK: NWKRF), this week announced that Up Cannabis Inc. ("Up Cannabis"), its wholly-owned subsidiary, has entered into an agreement with Cannabis NB as a licensed producer to supply cannabis.
"We are very excited to announce this partnership with Cannabis NB," said Jay Wilgar, CEO of both Newstrike and Up Cannabis. "Being among the select group of licensed producers that will supply cannabis to the New Brunswick marketplace is a privilege, and we look forward to helping Cannabis NB achieve its goals of providing safe, reliable product to adult-use consumers."
HEXO Corp. (NYSE: HEXO) (TSX: HEXO) closed up over 6% on Tuesday at $6.66 trading over 6.4 Million shares by the market close. HEXO recently reported its financial results for the second quarter of the 2019 fiscal year, the Company's first full quarter following the legalization of adult-use cannabis in Canada. Total gross revenue for the quarter reached $16.2 million, an increase of 144% from the previous quarter.
"This is an exciting time for HEXO as we continue to achieve milestones on the way to becoming a top two cannabis company," said HEXO Corp CEO and co-founder, Sebastien St-Louis.
MedMen Enterprises Inc. (CSE: MMEN.CN) (OTCQX: MMNFF) recently announced that it has signed a binding term sheet for a senior secured convertible credit facility of up to US$250,000,000 (the "Facility") from funds managed by Gotham Green Partners ("GGP" or the "Investor"), an investor in the global cannabis industry. Management believes this is the largest investment to date by a single investor in a publicly traded cannabis company with U.S. operations.
"This strategic partnership with Gotham Green Partners represents another key milestone for MedMen and stems from our long-standing relationship with The Cronos Group and GGP's brand portfolio," said Adam Bierman, CEO of MedMen.
Clean Lineage CBD Brand 'Spills' into Beverage Category with Their Latest Innovation
BOULDER, Colo., March 26, 2019 /PRNewswire/ HalcyonTV-- Weller, an innovative pioneer in CBD-infused food and beverage products, announced today that their high-quality CBD Sparkling Water will be available for purchase in April.Exhibited earlier this month at Natural Products Expo West, Weller's CBD Sparkling Water line offers three fresh flavors: Watermelon, Black Cherry and Tangerine which is infused with 25MG of CBD (cannabidiol) broad-spectrum hemp extract per can. Weller's CBD Sparkling Water is made with clean, simple and sustainably-sourced ingredients to help promote a clean and healthy lifestyle.
Weller is on a mission to bring ground-breaking products to the market that will change the way consumers can access the power of CBD through simple, delicious, functional food and beverage products. Founded by natural food industry veterans Matt Oscamou, founder and CEO of Frontier Snacks, and John Simmons, founder and CEO of Third Street Chai, Weller's mission is to provide ground-breaking products that will change the way consumers access the power of CBD through their simple, delicious, functional snacks and beverages. Made with all-natural ingredients, Weller's CBD Sparkling Water (MSRP: $4.99/can) feature zero-calorie, zero-THC, balanced flavors for a crisp taste. Weller's CBD Sparkling Water beverages are also non-GMO, gluten-free, dairy-free and vegan and join their current roster of popular CBD-infused products such as the CBD Coconut Bites (available in three delicious flavors: Dark Chocolate, Caramel and Original) and the CBD "Barista Blend" Drink Mix (available at wholesale and at www.welleryou.com)
"Our company has always strived to provide our customers with high-quality, better-for-you products and empowering them to live a healthy lifestyle," said John Simmons, Co-Founder of Weller. "With our line of CBD Sparkling Water, consumers are able to enjoy the full benefits of CBD in a convenient, refreshing new way suitable for any occasion."
Beginning in April, Weller's CBD Sparkling Water will be available online through the brand website along with natural and conventional retailers including Lucky's Market, Lassens, Wegmans, and other independent retailers. For a complete list of products or more information on Weller, visit www.welleryou.com.
"The High End" is now open in Barneys New York Beverly Hills, featuring an exclusive partnership with luxe cannabis brand Beboe, and a wide selection of luxury accessories and wellness products.
LOS ANGELES, March 21, 2019 /PRNewswire/ HalcyonTV-- Barneys New York, the luxury specialty retailer, today announced the opening of "The High End", its luxury cannabis lifestyle and wellness concept shop, in its Beverly Hills flagship store. With the launch of The High End, Barneys New York is the first major retailer to introduce a cannabis lifestyle shop.
"Many of our customers are incorporating cannabis into their lifestyle, and The High End meets this new need in a way that only Barneys New York can," said Daniella Vitale, Chief Executive Officer & President, Barneys New York. "We are thrilled for customers to visit The High End and its extraordinary selection of products. It's an experience they can't get anywhere else."
Select products featured in The High End will also be available on Barneys.com starting March 29. Following the opening in Beverly Hills, Barneys New York plans to expand The High End to additional locations in the near future.
The High End features an exclusive partnership with upscale cannabis company Beboe, and an extensive selection of accessories and lifestyle products. This includes a range of elevated wellness products and rare items across home, jewelry, beauty and more. Guests will be able to experience a selection of custom blown glass pipes, luxury rolling papers, one-of-a-kind vintage ashtrays, accessories including sterling silver grinders, and CBD-infused beauty.
At The High End, Barneys New York Beverly Hills customers can learn about luxury cannabis company Beboe's distinct offerings. The collaboration includes an exclusive special edition silver Beboe vaporizer pen in celebration of the project. Customers who visit The High End can speak to Beboe representatives about its products, and purchase from Beboe through the white glove delivery service, Emjay.
The High End is located on the fifth floor of Barneys New York Beverly Hills.
ABOUT BARNEYS NEW YORK
BARNEYS NEW YORK (Barneys) is a luxury specialty retailer renowned for having the most discerning edit from the world's top designers, including women's and men's ready-to-wear, accessories, shoes, jewelry, cosmetics, fragrances, and gifts for the home. Barneys' signature sense of wit and style is manifested in its creative advertising campaigns, original holiday themes, and celebrated window displays. Founded as a men's retailer in 1923 in downtown Manhattan, it became an international arbiter of high style for both women and men in the 1970s, renowned for discovering and developing new and innovative design talent. Today, Barneys New York operates flagship stores uptown on Madison Avenue and downtown in Chelsea in New York City, as well as additional flagships in Beverly Hills, Chicago, Seattle, Boston, San Francisco, and Las Vegas, along with a preeminent luxury online store, Barneys.com, as well as 14 other stores and outlets across the United States. For more information about Barneys New York, please visit www.Barneys.com and explore its luxury content site, The Window, for an insider's look into the Barneys world: a behind-the-scenes visit with exciting designers, fashion, events, and the Barneys team.
Beboe is the Los Angeles-based leader in luxury cannabis. Founded in 2017 by friends and cannabis growers Scott Campbell and Clement Kwan, Beboe's mission is to destigmatize legal cannabis through heightened experience and education. With sleek packaging and social dosing, Beboe offers the sophisticated cannabis consumer an experience unlike any other on the market. In 2017, Beboe launched cannabis vaporizing pens and edible pastilles, each curated with a unique blend of THC and CBD. In Fall 2018, Beboe launched a CBD-only blend. Beboe. Each product is dosed to complement individualized social settings - ranging from afternoon tea to dinner parties to weddings - so cannabis can be safely and stylishly incorporated into every aspect of a lifestyle. In addition to developing quality-driven product, Beboe remains at the forefront of the industry through education and advocacy. Beboe is the inaugural brand from For Success Holding, a portfolio of cannabis brands co-founded by Campbell and Kwan in late 2014. For Success Holding endeavors to create a conglomerate of products, brands and experiences for today's cannabis consumer. Beboe THC/CBD blend products are sold through licensed distributors and delivery services throughout California and Colorado, and CBD products are available online and through select retailers. In 2019, Beboe entered into a definitive agreement to be acquired by Green Thumb Industries Inc. For more information, please visit www.beboe.com.
CBD Beverages--Possible Next Big Disruptor in the Drinks Industry English - CannabisNewsWire Editorial Coverage
DENVER, March 20, 2019 /CNW/ --Drinks infused with cannabis-derived cannabidiol (CBD) are in a prime position to bring disruption to the beverage sector.
To view an infographic of this editorial, click here.
The Changing Beverage Space
Beverages are among the most trend-driven of all food industry products with continuing innovations in packaging, flavors and formulations being made to drive consumer interest. Decades ago, store shelves consisted of a few cola and fruit-flavored drinks. Since then, there have been introductions of enhanced fruit juices, bottled iced teas and more recently energy drinks, which created an entirely new drink category. Consumer tastes have grown considerably as well, especially when considering the popularity of the fermented tea drink kombucha.
Now a fresh wave of innovation is on the cusp of altering the beverage industry. The growing interest in hemp-derived CBD as a health supplement along with the legalization of marijuana for medical and recreational use in several jurisdictions has led manufacturers to explore new products and expand their consumer base. This has led to the creation of a new product category — CBD-infused beverages.
The Rise of CBD Beverages
Few companies currently have a strong focus on CBD drinks. However, among those looking to take advantage of this market is Phivida Holdings Inc. (CSE: VIDA) (OTC: PHVAF). Through its Oki brand of active-hemp, extract-infused waters and iced teas, Phivida is targeting health-conscious consumers who are looking for newer ways to enhance their well-being. Backed by its own market research, Phivida expects that introducing an attractive beverage formulated with the flavors and features most desired by this segment will have strong market acceptance.
Driving the growth of this new segment is the rocketing popularity of CBD as a health supplement. One of the many active ingredients in cannabis, CBD doesn't produce a high in users, unlike cannabis' more famous constituent, THC. While research into CBD is in its early stages, consumers are increasingly looking for products containing CBD to address a variety of health issues such as anxiety, pain, and immune health. This has been aided by the passing of the Farm Bill in December 2018 which legalized hemp — defined as a variety of the cannabis plant that contains less than 0.3 percent THC — and allows its production and sale in all 50 states. For companies such as Phivida, which process the hemp plant into their products, this has provided them with a significantly large market to grow into.
Launching into the CBD-infused Drink Market
Chances are that, within a decade, every store may have a CBD-infused drinks section. But currently, companies are entering new territory and strategizing the best steps that will lead to success.
A critical step some are taking is to reach into the established beverage industry to tap into seasoned expertise and leverage previous success. For example, hemp-derived CBD supplement producer Charlotte's Web Holdings Inc. (OTC:CWBHF) (CSE:CWEB) recently recruited former Coca-Cola executive Eugenio Mendez as its chief growth officer. The company has stated its strategy is to expand into new segments, and Mendez could provide vital experience for a move into beverages.
For Phivida, that process also started with finding the right people to manage the project. Last March, Jim Bailey and Mike Cornwell stepped in as new management at the company. Veteran executives from Red Bull, they brought with them large beverage company expertise in product formulation, package design, product distribution and marketing. Coming from the last company to truly innovate and trigger a widespread disruption in the beverage industry, the two executives look well-equipped to repeat that achievement at Phivida.
Another key step is designing a beverage that will have the most consumer appeal. To align with the sentiments of their target consumers, Phivida's Oki brand flavored waters and iced teas contain non-GMO, natural and organic ingredients; are plant based and vegan friendly; and are packaged in sleek 100 percent recyclable glass containers. The flavor line-up, which includes Watermelon Relax and Lemon Ginger Harmony, are aligned with the current preferences of the health-conscious consumer. Phivida's surveys have resulted in product testing scores as high as 80 percent from its sample group of 1,200 individuals for its OKI beverage.
The new leadership team has also put in significant effort to ensure that Oki has the distribution channels necessary to reach consumers. Company officials have been working with one of the nation's largest grocery distributors and meeting with both national and regional chains to secure retail contracts. Several retail contracts are in development, and Phivida expects Oki to be available in more than 1,000 outlets by the second quarter of this year.
Beer Makes Its Cannabis Move
So far, one of the most significant moves by the beverage industry into cannabis has been made by Constellation Brands Inc. (NYSE:STZ). The company behind brands such as Corona beer and Svedka vodka has taken an active interest in the cannabis sector. Through two rounds of investment over the past two years, Constellation has provided $4 billionto Canopy Growth Corp. (NYSE:CGC), one of Canada's largest and most successful cannabis companies. This investment provides Constellation with one-third ownership of Canopy Growth and the potential to take that investment further.
Unsurprisingly, there has been a lot of speculation about how this money will be spent. Canopy Growth has been using its increased financial clout to expand its business from Canada into the United States. Canopy is establishing a production facility in New York state that, for now at least, will produce industrial hemp from which CBD can be extracted.
In another team-up between a brewer and a Canadian cannabis company, Molson Coors Brewing Company (NYSE:TAP) announced last summer that its Canadian arm would be working with the Hydropothecary Corporation on a joint partnership to produce cannabis-infused drinks in anticipation of the expansion of that country's cannabis legalization. Cannabis beverages and edibles are expected to be made available by October 2019, and Molson will be positioned to serve that new sector once it is made legal.
The market for both CBD- and THC-based cannabis drinks has barely begun to take shape, but given the dramatic growth in the popularity of cannabis, it could become a major disruptor for the beverage industry over the next few years.
For more information about Phivida Holdings, please visit Phivida Holdings Inc. (CSE:VIDA) (OTCQX:PHVAF).