Like so many real people in the world, Homer Simpson, everyone's favorite lovable beer-drinking cartoon dad, sure loves his beer. Abattis Bioceuticals (CSE:ATT)(OTCQB:ATTBF) thinks consumers are going to love beer infused with hemp, a variety of cannabis.
Before you go thinking people are going to get stoned on beer like they do smoking marijuana, understand that the beer has no THC (tetrahydrocannabinol) in it, the cannabis constituent responsible for the psychotropic effect. The plan is to infuse the beer with other "high-free" cannabinoids found in cannabis that are believed to have medical benefits.
To make it happen, Abattis, a Vancouver-based life sciences a biotech company specializing in cannabis technologies, has partnered with Faculty Brewing. The company says it is one of the first Canadian companies to secure an agreement to move forward with developing functional, cannabis- and hemp-infused beers, which it expects to have ready for markets once Health Canada releases its new guidelines on beverages involving cannabis.
Northern Vine Laboratories, a licensed cannabis dealer co-owned by Abattis and Emerald Health Therapeutics (TSX-V:EMH)(OTCQB:EMHTF), has been contracted to provide cannabinoid-rich, THC-free hemp extract for the requisite research to make the new brew.
Shares of CSE-listed ATT are up three cents, or 4.9%, to $0.64 in Monday trading following the news. U.S.-listed shares are doing slightly better, rising 6.3% to 51 cents as the trading day enters its last half-hour before the closing bell.
