CANADA – Hemp infused beverages maker BevCanna has signed a an agreement with Higharchy Ventures to develop, manufacture and launch a portfolio of cannabis beverage brands for distribution in Canada.
Under the agreement, BevCanna will manufacture Higharchy’s beverage-related brands, including both in-house and established brands to which Higharchy has or will acquire the Canadian rights.
BevCanna will also be the manufacturer of choice, through first right of refusal for additional products and brands outside of the beverage category – which Higharchy may develop or acquire.
Through the partnership, the companies are seeking to tap into the growing sector especially at a time when cannabis-derived cannabidiol (CBD) infused drinks are expected to disrupt the beverage industry once legalized in Canada in October 2019.
“This partnership is a great opportunity to work closely with another emerging leader in the Canadian cannabis space,” said Emma Andrews, Chief Commercialization Officer at BevCanna.
“We’ll leverage our existing manufacturing expertise and facilities to help Higharchy realize their vision of producing world-class brands and products, and we will in turn benefit from Higharchy’s retail holdings as we launch our own beverage brands in Canada.”
BevCanna will be a preferred supplier through Higharchy’s cannabis retail holdings where regulations permit.
As infused beverages are expected to be legalized in Canada October 2019, BevCanna plans to establish an industry-leading retail education and training program focused on educating store staff on the infused beverage category and responsible consumption.
Health Canada has already granted a research license to the cannabis-infused beverage maker to research the stability and homogeneity of water-soluble cannabinoid infusions in water-based beverages.
Bevcanna also intends to begin stability trials for its two recently announced beverage brands Grüv Beverages and Anarchist Mountain Beverages that will be commercially launched in the Canadian market.
Bevcanna’s partner, Higharchy says that it invests both capital and expertise to the cannabis industry to create and build purpose-led brands that deliver sustainable profitable growth.
“As we grow and shape cannabis brands, our Higharchy team is committed to delivering beyond shareholder value and serving by doing good for both people and planet,” says Matt Christopherson, Higharchy CEO & Founder and a BevCanna board director.
Higharchy’s flagship investment, West Coast Cannabis Store, is set to open in fall 2019 in both British Columbia and Alberta.
The company is currently the largest shareholder in Suprette, a cannabis retailer in Ottawa, Ontario where in its first five months of business, generated over US$7 million in sales.
