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Tuesday, Jul 5, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.

Industry update

Canopy launches its first THC-infused drink nationwide

After 2 month delay, cans of Tweed Houndstooth & Soda set to hit shelves this week

canopy cannabis beverage

Self-isolating Canadians can kick back on their own couches and finally try Canopy Growth Corp.’s (TSX: WEED) THC-infused drink, which hits the nation’s shelves this week.

The pot giant announced Monday it began shipping its Tweed Houndstooth & Soda cans to provincial wholesalers and private retailers late last week.

Canopy said shipments started March 11 and online and brick-and-mortar availability will vary depending on provincial distribution systems.

Quebec’s SQDC online platform is the first provincial retailer to list the drink on its website.

Tweed Houndstooth & Soda comes in a 355 millilitre can with 2 milligrams of THC and less than 1 milligram of CBD.

Read more: Canopy deepens ties with Constellation with two new board appointments

Read more: Canopy blamed shutdown on government regs. It’s probably right

Canopy launches its first THC-infused beverage nationwide

Canopy announced 13 cannabis-infused drinks last October, which were intended to reach the market early January. But due to delays, the company released the first can of the lineup in March. Press photo

Canopy has been ramping up for the release of its cannabis-infused-beverages since 2.0 products were legalized October 2019.

However, the company announced in the middle of January 2020 it had to delay the launch of its weed-infused drinks “due to issues scaling up its beverage production facility,” in Smith Falls, Ontario.

The Canadian producer invested heavily in developing cannabis-infused beverages since Constellation Brands, Inc. (NYSE: STZ) bought a 37 per cent stake worth $5 billion in Canopy, August 2018.

In late October, the company announced 13 different cannabis beverages it plans to bring to market. Ten of them contain less than 2.5 milligrams of THC, as Canopy said they are targeting casual or first-time cannabis consumers.

But three of the products contain 10 milligrams of THC — the highest level allowed under Health Canada’s rules per edible or drink package.

Canopy did not provide a timeline on future product releases.

Only three other Canadian licensed producers have infused beverages on the market today, which include Tilray, Inc. (NASDAQ: TLRY), Valens GroWorks Corp. (TSX: VLNS), and TerrAscend Corp. (CSE: TER).

Read more: From ‘Deep Space’ to ‘Beans & Bud: Canopy Growth unveils 16 cannabis-laced drinks and chocolates

Top image via Canopy Growth


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