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Thursday, Jun 30, 2022
Mugglehead Magazine
Alternative investment news based in Vancouver, B.C.


Canopy’s BioSteel signs 4-year partnership with Athletics Canada

The sports drink provider will have a ‘prominent presence’ through the end of 2025

Canopy's BioSteel signs 4-year partnership with Athletics Canada
Image via BioSteel

Canadian weed giant Canopy Growth Corp.‘s (TSX: WEED) (Nasdaq: CGC) BioSteel will be Athletics Canada’s official sports drink provider for the next four years.

In a statement Friday, Athletics Canada — the national sport governing body for track and field, para-athletics, cross-country running and road running — says the multi-year partnership will run through the end of 2025, during which the sports drink company will have a “prominent presence.”

Under the agreement, BioSteel will provide products to the sporting organization’s hubs in Toronto and Victoria, as well as all Athletics Canada events.

The Athletics Canada community will be soon able to access a discount on BioSteel products, and the sports drink provider will supply a product prize pack to a monthly winner.

A fundraising program for athletics clubs across the country will be announced by the partners soon, Athletics Canada says.

Athletics Canada and BioSteel first struck a partnership in 2017.

“We are extremely pleased to renew with BioSteel, a trusted brand in sport circles and households alike,” Athletics Canada CEO David Bedford says.

The sports drink company has also partnered with NBA teams in major North American cities, as well as USA Hockey, U.S. Soccer and individual athletes.

Read more: Miami Heat latest to make Canopy’s BioSteel team’s official drink

Read more: Canopy’s BioSteel now official drink of LA Lakers

In November, BioSteel signed a collegiate athlete deal with women’s basketball freshman Azzi Fudd, who became a brand ambassador and partner.

BioSteel was founded in 2009 by Michael Cammalleri, a former NHL player, and business partner John Celenza with a focus on nutritious, sugar-free drinks. In 2019, Canopy bought a majority stake in the sports drink firm.

Canopy stock rose nearly 11 per cent on Wednesday to $12.48 on the Toronto Stock Exchange.


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