Canopy Growth’s pot drinks expected in several provinces this month

Yahoo Finance Canada
Beverage cans are run through machinery during a tour at a Canopy Growth facility that produces cannabis derivatives in Smiths Falls, Ontario, Canada October 29, 2019. REUTERS/Blair Gable
Beverage cans are run through machinery during a tour at a Canopy Growth facility that produces cannabis derivatives in Smiths Falls, Ontario, Canada October 29, 2019. REUTERS/Blair Gable

Quebec’s provincial cannabis retailer expects Canopy Growth’s (WEED.TO)(CGC) long-awaited pot-infused beverages to launch this month. 

A spokesperson for Société québécoise du cannabis (SQDC) told Yahoo Finance Canada product is expected to become available in the coming weeks, but could not offer a more specific date. 

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“The SQDC plans to have a drink from Canopy Growth available during the month of March,” Mathieu Gaudreault wrote in an email on Wednesday. “Unfortunately, I do not have a more precise time frame as of today.”

Canopy, the world’s largest cannabis company by market value, has experienced significant delays in producing pot-infused beverages at scale.

The Smiths Falls, Ont.-based company revealed several THC and CBD-infused beverages last October, including a product designed to be mixed with non-alcoholic beverages at home, and a line of sparkling drinks designed by actor Seth Rogen.

The company said in December that its first batch of beverages, Tweed Houndstooth & Soda, Houseplant Grapefruit, and Houseplant Lemon, would hit the market in January. On Jan. 17, it abruptly delayed the launch, offering few details at the time.

Chief executive officer David Klein told Yahoo Finance Canada on Feb. 14 that he expected beverages to hit store shelves “in a few months.”

A Canopy Growth spokesperson could not immediately be reached for comment on Wednesday.

Meanwhile, other provincial cannabis authorities have provided Yahoo Finance Canada with launch timelines similar to Quebec’s. 

A spokesperson for Cannabis NB, New Brunswick’s provincial recreational cannabis retailer, said he expects Canopy’s drinks to arrive in mid-April.

The Newfoundland and Labrador Liquor Corporation, which distributes recreational cannabis in that province, said it expects Canopy drinks to be available by the end of the month.

Retail chain Fire & Flower (FAF.TO) said its Saskatchewan distribution arm Open Fields is expecting to see Canopy’s beverages in “very late March to early April.” 

More to follow. 

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