Joint venture will market BevCanna-infused drinks in Europe
The JV with Mota Ventures will initially launch the LEV line of lightly sparkling fruit-flavoured CBD-infused spring water beverages and water-soluble powders
VANCOUVER — BevCanna Enterprises Inc., a Vancouver-based manufacturer of cannabis-infused beverages, has entered into a definitive joint venture with Mota Ventures Corp. to exclusively distribute BevCanna’s hemp-derived cannabidiol (CBD) products in the European market.
The agreement will initially launch the LEV line of lightly sparkling fruit-flavoured CBD-infused spring water beverages and water-soluble powders. The beverages will also utilize BevCanna’s proprietary method of nano-delivery of cannabinoids. The technology produces a rapid onset time for the cannabinoids.
Additional products will be launched over the life of the five-year agreement.
BevCanna and Vancouver-based Mota, a CDB company, will share equal ownership in the joint venture.
In addition to capital, BevCanna will contribute proprietary brands, product formulations, formulas for nano-encapsulated water-soluble powders, and marketing and manufacturing expertise. Mota will provide manufacturing, marketing and distribution infrastructure in the European market.
“We’re eager to launch our CBD products in the European market,” said John Campbell, chief strategy officer of BevCanna, in a prepared statement. “Infused beverages are a great way to enjoy cannabidiol in a familiar, appealing consumption format, while also being non-carcinogenic and more socially friendly than other formats. We’re also excited to employ our proprietary nano-technology in our beverages, which is more bioavailable and produces a rapid onset time.”