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Abattis Enters Cannabinoid-Infused Beverages Market in a Big Way -- CFN Media(January 23, 2018)
SEATTLE, WA, Jan. 23, 2018 (GLOBE NEWSWIRE) -- CFN Media Group ("CannabisFN"), the leading creative agency and media network dedicated to legal cannabis, announces publication of an article discussing plans for Abattis Bioceuticals Corp. (CSE: ATT) (CNSX: ATT) (ATT.CN) (OTCQB: ATTBF) to introduce cannabinoid-infused beer through a new partnership with a premier Vancouver-based craft brewery.
The Canadian cannabis industry is expected to reach C$22.6 billion over the coming years, according to Deloitte, driven by the legalization of recreational marijuana nationwide. While cannabis flower has garnered the most attention, cannabis-infused products are quickly becoming the most promising area for investment and development. These products are expected to be legalized by the federal government over the short-term.
Constellation Brands Inc.’s acquisition of a 9.9 percent stake in Canopy Growth Corp. for C$245 million (US$191 million) underscores this interest. Constellation Brands is one of the largest beverage companies in the world with $7.3 billion in fiscal 2017 revenue - as well as the owner of iconic brands like Corona beer - and CEO Rob Sands hopes to eventually release cannabis infused beverages. Abattis may well beat them to the punch.
There has been a longstanding interest in cannabinoid-infused beer, wine, and spirits. In fact, hops and cannabis are members of the same genus and have a similar molecular structure. There are several brands popping up in Colorado and other states that have recently passed laws legalizing cannabis products.
In addition to beer, wine, and spirits, many companies have already brought cannabis-infused products into the beverage industry. Catapult Coffee Pods provide cannabis-infused coffees; Legal by Mirth Provisions provides cannabis-infused cold tonics; Lift by Dixie Elixirs provides cannabis-infused energy drinks; and, Canna Cola launched a cannabis infused soda pop - and there are countless other examples across product categories.
Abattis Enters the Market
Abattis Bioceuticals recently announced a partnership with Faculty Brewing Co, a Vancouver-based craft brewery, to develop a hemp-infused, cannabinoid-rich, THC-free craft beer that will compete in this exciting new market. In addition, the move could create a proof-of-concept that the company could replicate with other brewers as well as across many other beverage markets, including coffees, sodas, and energy drinks.
“Our exciting partnership with Faculty Brewing positions us as one of the first Canadian companies to secure an agreement for research and development, analytical and regulatory services relating to a hemp- and cannabis-infused beverage,” said Rob Abenante, President and CEO of Abattis. “By aiming to develop a line of functional beers, each based on a different type of hemp extract, we hope to have a product that is compliant and market-ready.”
The company contracted Northern Vine Labs to provide cannabinoid-rich, THC-free, hemp extract and to carry out the research, development, and analytical testing. As a licensed dealer, Northern Vine Labs has the ability to import/export cannabis and cannabis oils, as well as to conduct certain activities related to developing cannabis products. The lab is co-owned by Abattis and Emerald Health Therapeutics Ltd.
Please follow the link to read the full article: http://www.cannabisfn.com/abattis-enters-cannabinoid-infused-beverages-market-big-way/
For more information, visit the company’s website at www.abattis.com.
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