Waterloo Brewing secures research license to produce cannabis-infused beverages
Waterloo Brewing Ltd., Ontario’s largest Canadian-owned brewery, today announced receipt of its research license for cannabis-infused beverages and that it is on track to be ready to commercially produce such products for 2020.
George Croft, president and CEO, Waterloo Brewing, said in a release that after an in-depth review of the company’s strategic options, Waterloo Brewing is positioning itself to be a major producer of CIB’s and will “take full advantage of this new and developing beverage category. 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.”