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Although recreational cannabis products such as its dried buds and pre-rolled joints are already legal in Canada, edibles and THC-infused drinks won’t be legal until December 16th…And Miller Coors will be launching new products that day.
Here’s the deal…
Last August Miller Coors, makers of Coors Light, formed a joint venture (no pun intended) with Canadian cannabis brand HEXO.
The independent venture, Truss, is being led by former Molson Coors executive, Brett Vye, who steps in as the company’s first CEO and will report to the Truss board of directors consisting of three members appointed by Molson Coors Canada and two members appointed by HEXO, a leading Canadian cannabis producer.
At the time of the deal’s closing Vye promised that Truss would have psychoactive cannabis-infused beverages available for sale when the day they become legal in Canada…
“With the backing of two partners with deep Canadian roots, proven success, and market-leading experience in the respective beverage and cannabis industries in Canada, Truss will hit the ground running.”
“When consumable cannabis is legalized in Canada, Truss will be ready to make its mark as a responsible leader in providing high-quality beverages for the Canadian consumer. We are joining together the extensive experience and excellent practices of each partner to build a powerful foundation for the future.”
And Jay McMillan, HEXO’s Vice President of Strategic development, told Bloomberg that the joint venture is ready…
“We’ll have a very large supply, so we’ll be in a good position to be able to meet the demand of the marketplace and at the same time also ensure that we’re meeting the variety that the marketplace wants.”
“Canada is this great experiment where we can come and establish these high-quality products and be able to see how it works across different demographics, get that feedback from the consumer and then we will move into other jurisdictions, whether that’s into the UK, the US or Latin America.”
In the interview which took place at the World Cannabis Congress held in New Brunswick, Canada, McMillan told Bloomberg that cannabis-infused drinks made by Truss will be superior in quality to those currently available in the US, which often taste like “bong water” and take a long time for the buzz to kick in.
Truss is also looking into selling CBD-infused drinks in the US and plans to be selling an eight-strong drinks range in America by 2020.
