The two companies are cooperating with a similar project in Canada, too. In a press release today, Molson Coors Brewing (NYSE:TAP) announced it has completed a deal which will see it launching Truss CBD USA, a joint venture in Colorado making non-alcoholic CBD beverages. Its partner for the planned enterprise is HEXO Corp (NYSE:HEXO), a…
In a news release today, Molson Coors Brewing( NYSE: TAP) revealed it has actually completed a deal which will see it launching Truss CBD USA, a joint venture in Colorado making non-alcoholic CBD beverages. Its partner for the planned business is HEXO Corp( NYSE: HEXO), a significant licensed customer cannabis producer from Canada which has stayed in business since2013
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Truss CBD USA will run as a largely independent entity, complete with its own executives, board of directors, and marketing department. CBD or cannabidiol, a non-psychoactive extract of hemp, does not contain THC, and is legal in the state of Colorado where Truss CBD USA will be based. CBD is presently a trend product appearing in items from shimmering sodas and lattes to lotions and brownies.
Image source: Getty Images.
The potential Colorado CBD beverage business is really the second partnership in between Molson Coors and HEXO.
Truss CBD U.S.A. will run as a stand-alone brand, with Molson Coors owning a bulk stake. Its CBD drinks will be produced and offered specifically inside Colorado’s borders to avoid running afoul of CBD’s status as an illegal drug elsewhere in the U.S.
Molson Coors will keep itself devoid of legal entanglements by producing no CBD drinks at any of its own facilities. HEXO CEO Sebastien St-Louis states the new brand features “the leadership of Molson Coors, Powered by HEXO” which he is delighted by its capacity.
position in any of the stocks discussed. The Motley Fool recommends HEXO. The Motley Fool has a disclosure policy“>
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