Marijuana for recreational use will be legal this October, but that doesn’t mean it’ll be available in every form. While smoking cannabis will be permitted, consumers won’t be able to eat food or drink beverages containing marijuana just yet. Edibles were not included on Bill C-45 and the earliest that we’ll see that form of marijuana becoming legalized will likely be sometime next year.
Edibles are a big segment of the industry. Colorado’s pot sales have been taking off as edibles, gummy bears in particular, have been very popular among consumers. Companies have taken notice of this, and U.S. beer giant Molson Coors Brewing Co (NYSE:TAP) want to get in on it. In anticipation of growing demand for cannabis-infused beverages, the big brewer has been in talks with multiple different cannabis companies to try and work on a new product, including Aphria Inc (TSX:APH) and Aurora Cannabis Inc (TSX:ACB).
Although it may not be legal at the federal level in the U.S., there’s definitely a lot of demand once it will be, and Molson wants to be ready for when that happens. For a company that has been struggling to grow its sales, it will be a great opportunity for Molson to offer a new product that could be a big hit with cannabis users. The big question is when it’ll be able to offer it, but at this point it seems that it’s only a matter of time.
Green Organic Dutchman Holdings Ltd (TSX:TGOD) stock has been soaring in price, and a big reason for that is because it obtained a license for a technology that will make it easy for them to infuse cannabis into food and beverages. The hype around edibles is real, and stock prices could continue to climb.
