By Benjie Cooper
YouTube: Lucid’s Vlog
The newly-legalized cannabis market in Canada has attracted a variety of legacy industries and brands that are interested in the possible integration of cannabinoids into products of their own design.
The Coca-Cola Company looked at, then shied away from partnering with Aurora Cannabis to manufacture CBD-infused drinks in October, but Marlboro manufacturer Altria purchased $2.4 billion worth of stock in Canadian cannabis company Chronos earlier this month.
On Wednesday, Canadian cannabis producer Tilray announced that they had signed a deal with Budweiser manufacturer Anheuser-Busch to research and develop cannabis-infused beverages.
Each company is looking invest $50 million into the joint venture which will be run through Anheuser-Busch’s Labatt Breweries of Canada subsidiary and focus on researching drinks infused with tetrahydrocannabinol (THC) and cannabidiol (CBD).
According to MarketWatch, Tilray stock rose more than 10% in after-hours trading following the announcement and added to gains that came after a Tuesday announcement in which the company revealed their global distribution deal with Swiss pharmaceutical giant Novartis AG.
The joint research with Anheuser-Busch will explore topics that the five-year-old Tilray has already delved into such as effect onset time and duration as well as other relevant matters such as packaging, production, and recipe creation.