Last month, Rich interviewed Emma Andrews, the Chief Commercialization Officer of BevCanna Enterprises Inc. (CSE:BEV) (OTCPK:BVNNF). Since then, BevCanna has had some exciting news, as it recently announced the launch of a new line of cannabis-infused beverages.
Grüv Beverages is a line of easy-to-drink iced-tea beverages with a balanced THC and CBD profile. These are drinks specifically designed to blend iced tea and cannabis in a way that’s both thirst-quenching and relaxing.
According to the press release, the brand “embodies the delight we have in connecting with others and ourselves. It sets the pace for reveling in the moment. It’s a lively and approachable brand—grooving to the music of life.”
Flavors will include herbal, green, and black tea. The products will be available in the US, and in Canada following the legalization of infused products in October 2019.
Let’s take a closer look at BevCanna, and run down the information that investors should know about this on-the-rise cannabis beverage company.
BevCanna Enjoys a Rare Position in the Industry
Zenith Global, a food and drink consulting firm, projects that the market for cannabis-, CBD-, and hemp-infused drinks in the US alone will grow to over $1.4 billion by 2024. The global cannabis-infused beverages market is expected to rise as high as $4.46 billion.
BevCanna has gathered all the necessary ingredients to capture this market before it takes off.
At the start of July, just days after its IPO, the company was awarded a cultivation license from Health Canada. This means that BevCanna will soon be able to seed its 100-acre outdoor cultivation area in the Okanagan Valley. Also on-site is a 40,000-square-foot manufacturing facility with a bottling capacity of 72 million units per year.
In addition, the company has the exclusive rights to a pristine alkaline spring water aquifer. Canada’s government has since halted access to new aquifers like BevCanna’s, meaning the company is positioned to become an industry leader in offering high-quality products.
Prior to the announcement of its Grüv line, BevCanna previewed its upcoming Anarchist Mountain Beverages brand. Deriving its name from the company’s bottling site, Anarchist Mountain drinks will capture the spirit of the Pacific Northwest. The full brand portfolio will include a variety of ready-to-drink, THC-dominant beverages, shots, and powdered drink mixes.
BevCanna Stock Has Skyrocketed, and Still Has Plenty of Room to Grow
Two weeks ago, BevCanna’s stock price sat at $0.315 on the CSE. Today, it opened at $0.72.
According to the company’s business objectives for the second half of 2019, the next six months will be an exciting time for BevCanna. In addition to its brand roll-outs, the company will finish testing water-soluble, powder-based beverages, which will be sold in California.
Also, BevCanna plans to enter into multiple letters of intent with Canadian LPs to manufacture cannabis-infused beverages for initial clients in the Canadian market. These beverages will be white-label products, meaning the purchasing party can brand them as they see fit.
Finally, the company expects to enter into a crop-sharing agreement with an established LP for its 100-acre outdoor cultivation site in the Okanagan Valley.
With these steps in the immediate future, BevCanna is poised for growth just as demand for cannabis-infused beverages is about to explode. It will be exciting to watch the company grow from here.
Featured image: DepositPhotos © JohanSwanepoel