Cannapany on January 20, 2020 No Comments
The company wants to spend a little more time refining its products before they hit the market
Just when Canadians were ready for cannabis-infused beverages from Canopy Growth. to make it to the market, the company has announced that the launch of these products will be delayed. This Smith Falls-based company released to the press on January 17 the news and, according to the information provided, “the scaling process is not complete.” Canopy Growth plans to enter the beverages market with 13 different products.
“In order to deliver products that meet our customer’s high standards, we are electing to revise the launch date while we work through the final details,” said CEO David Klein in the statement. Canopy Growth is behind popular brands like Tweed, Tokyo Smoke, Doja and Van der Pop, and has leverage on the drinks business as it has the support of beverage company Constellation Brands Inc., which made a $5 billion investment last year. Constellation is the owner of popular brands such as Corona beers, Robert Mondavi and Kim Crawford wines and premium spirits from SVEDKA Vodka and Casa Noble Tequila.
The intention of this Canada-based company was to have everything ready to start selling these drinks in January as part of Cannabis 2.0 in Canada. The initiative allows cannabis-based products like edibles and extracts in sort of a second wave after legalizing the plant back in October 2018. So far, it hasn’t been clear when the new projected date for the launch will be, but the license was granted in November last year. According to what the company claims, this will not impact the total revenue for this 2020 financial year.
Congratulation!