Canopy Growth, Acreage plan U.S. launch of cannabis-infused beverages in 2021

In this news, we discuss the Canopy Growth, Acreage plan U.S. launch of cannabis-infused beverages in 2021.

(Reuters) – Canadian pot company Canopy Growth Corp WEED.TOCGC.N and Acreage Holdings Inc. ACRGau.CD plan to launch cannabis-infused drinks in the United States next summer, the companies said Thursday.

Acreage plans to launch Canopy’s select THC drinks in the summer of 2021 in the legal adult-use markets of Illinois and California. THC is the inducing psychoactive part of marijuana. (nPn2ncT5ca)

A growing number of companies are seeking to capture more of the cannabis industry in the United States, with recreational use of marijuana by adults now legal in 11 states.[reut.rs/348gywI]

“We see THC infused drinks as a game changer in US cannabis, and we are excited to launch Canopy Growth’s unique drink offerings in our core markets with the greatest growth potential next year,” said Bill Van Faasen, Interim CEO of Acreage Holdings.

In addition to selling products through its own dispensaries, Acreage will also use existing distribution channels through strategic corporate relationships, the companies said in a joint statement.

Report by Shradha Singh in Bengaluru; Editing by Shailesh Kuber

Original © Thomson Reuters

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