Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) to Develop Non-Alcoholic Recreational Cannabis Beverage through Joint Venture

May 2, 2019 10:57:59
  • As the anticipated legalization of edible cannabis products approaches in Canada, Sproutly is developing an infused beverage lineup by entering into a joint venture with Canadian beer maker Moosehead Breweries
  • The JV creates a standalone company drawing on Sproutly’s water-soluble Infuz2O technology and Moosehead’s decades of beverage market experience
  • The proprietary Infuz2O technology offers the advantage of a controlled rapid-on/rapid-off effect, similar to recreational cannabis use but without being smoked
  • The cannabis-infused beverage market is expected to generate revenues in the billions by 2024 as consumers seek alternatives to alcohol

Sproutly Canada Inc. (OTCQB: SRUTF) (CSE: SPR) (FRA: 38G) will lend its technological breakthrough in naturally produced, water-soluble cannabinoids to a joint venture with one of Canada’s oldest and largest independent breweries to create a line of non‐alcoholic cannabis-infused beverages, anticipating the legalization of edible forms of cannabis in Canada later this year.

The joint venture between Sproutly and OCC Holdings Ltd., an affiliate of Moosehead Breweries Limited, will be structured as a standalone company with its own board of directors and management team. Sproutly and Moosehead are working through the…

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