Koios set to enter the cannabis-infused drinks market

Cannavated, a subsidiary of Canadian functional beverage producer Koios, has signed a licensing agreement with US-based Keef Brands for a line of cannabis-infused beverages.

Koios says that the agreement will allow Keef brands to include the formula of nootropic supplements present in Koio’s range of functional beverages in the cannabis-infused drinks.

According to Koios, the supplements can enhance short-term brain functions and enhance the long-term memory of consumers.

The agreement is effective from 1 July 2018, and the two companies hope to release the line of beverages on 15 September 2018 in Colorado.

A statement from Koios said that the licensing agreement can be extended to Canada and to other US states in the future, providing the beverage complies with all regulations in the markets where cannabis has been made legal.

Koios said that it positioned Cannavated as a separate entity so that its subsidiary could focus on and pursue opportunities in the cannabis industry.

Koios CEO Chris Miller said: “This brings us one step closer to getting our nootropic formula on store shelves and in the hands of consumers, both those who need them for medicinal use or those who are simply looking for healthy alternatives in the recreational space.

“Widespread legalisation of marijuana in Canada, including for recreational use, takes place October 17, and California is ramping up after their recent legalisation of recreational cannabis.

“We are more than ready to meet the emerging needs of this new and quickly growing market.”

Erik Knutson, CEO of Keef Brands added: “We are thrilled to be partnering with an innovator in the functional beverage space and look forward to combining their unique formulations with our infused-beverage expertise and network of distribution.”

Earlier this month, Canada voted to legalise the recreational use of cannabis, which has presented an opportunity for food and beverage manufacturers to enter a new market.

Yesterday, Heineken announced that its Lagunitas brand will release a THC-infused cannabis sparkling water line in California.