Molson brewing pot beer – With the new legislation on legalized marijuana in Canada Molson Coors Canada is looking to manufacture a hybrid cannabis-infused non-alcoholic and regular beer.
Molson Coors Brewing Co. and Hydropothecary Corporation have joined and have branded themselfs as HEXO with a stand alone board and management team. Molson Coors Canada will own 57.5 per cent of controlling interest and HEXO the balance.
The partnership is a first for a major brewer with operations in Canada, where recreational marijuana will become legal on Oct. 17. Though cannabis-infused edibles and beverages won’t initially fall under the provisions of the law, Molson and Hydropothecary expect those products will become legal sometime in 2019.
“We view this as a historic milestone as the Canadian cannabis industry looks for innovative ways to enter the beverage industry,” Beacon Securities analyst Douglas Cooper said in a note. “We expect today’s Hexo/Molson Coors Canada JV to be nothing short of trend-setting for the cannabis industry as a whole.”
Molson Coors feels they with have the jump on other breweries around the world by making the first Pot beer.
The product will be manufactured solely for Canada at the moment and Molson Coors have no plans to sell the Pot Beer to any U.S. States that have also legalized marijuana.
The global market for legal and illegal cannabis is estimated at around US$150 billion, including US$7.8 billion in Canada this year, says Euromonitor International.