Joint venture will market BevCanna-infused drinks in Europe
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 maker of cannabis-infused beverages, has entered into a definitive joint venture with Mota Ventures Corp. to exclusively distribute the Vancouver company’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.