Hexo Corp (TSX: HEXO) (NYSE: HEXO) has seen its joint venture with Molson Coors Canada, Truss Beverages, begin to roll out its cannabis infused beverage products. The venture this morning announced five new brands under which it will sell product to consumers, each with their own characteristics.
The venture has evidently taken pride on having the “largest portfolio” of cannabis brands in the country, something that the company refers to as “leading the cannabis beverage category.” The five new product lines are said to “take the industry to new heights,” based on its wide portfolio.
The five product lines introduced by the company this morning include:
- Little Victory – The firms line of sparkling beverages
- House of Terpenes – Truss’ line of sparkling tonics that is to “celebrate the flavor of cannabis”
- Mollo – Described as “crisp” beverages
- Verywell – Beverages focused on self care
- XMG – A line up of bold and “intensity flavoured” beverages
The company then provided statistics on the beverage industry within the cannabis sector, identifying that a survey conducted found that 71% of Canadians surveyed of legal age identify smoking as the primary barrier to cannabis, with 43% of consumers that have tried beverages identifying they did so as a means of enjoying cannabis without smoking.
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Dosages of CBD and THC were not provided on an individual basis for each line of product, however the company indicated that “many” have dosages between 2.5 mg and 5 mg per beverage.
Product rollout is expected to continue over the next several months.
Hexo Corp last traded at $0.71 on the NYSE.
Information for this briefing was found via Sedar and Hexo Corp. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
