Waterloo Brewing Ltd., Ontario's largest Canadian-owned brewery, yesterday announced receipt of its research license for cannabis-infused beverages. The Company is on track to be ready to commercially produce such products for 2020.
"The cannabis market has garnered a great deal of investor interest and after an in-depth review of our strategic options, the Company is positioning itself to be a major producer of CIB's and to take full advantage of this new and developing beverage category," stated George Croft (photo), President and CEO, Waterloo Brewing. "We plan to be the production partner of choice for the beverage cannabis business."
"We believe that due to technical infrastructure issues related to the licensing and commercial production of cannabis-infused beverages, we will be one of the few beverage production facilities capable of producing these products," said Russell Tabata, Chief Operating Officer. "We have the equipment, the scale, the technical know-how and the speed to be able to pull this off in this extremely tight timeframe," added Mr. Tabata.
"Cannabis-infused beverages is an unprecedented growth opportunity with an estimated market value of $1.5 billion," concluded Croft "and we are now in a highly advantaged position to deliver significant value for our investors."