Kitchener, Ontario – Waterloo Brewing, the trade name of Brick Brewing Co. Limited (“Brick” or the “Company”) (TSX: BRB), Ontario’s largest Canadian-owned brewery, announced it has partnered with Cannabis Compliance Inc. to secure its research license and standard processing license for cannabis-infused beverages from Health Canada. The Company is on track to be ready to commercially produce such products for October 2019 when the legal retail market is expected to open.
“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 advantage of this new and developing beverage category,” stated George Croft, President and CEO, Waterloo Brewing. “We plan to develop and grow our own brands and be the production partner of choice for any cannabis company wanting to be ready for the cannabis-infused beverage market by October 2019.”
“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 ready for the upcoming October 2019 legalization date,” 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 beer and beverages is an unprecedented growth opportunity with an estimated market value of $1.5 billion,” concluded Croft “and we expect to be in a highly advantaged position to deliver significant value for our investors when the infused beverage market opens for business.”