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BevCanna Enterprises Inc. (CSE:BEV) announced strategic agreements in successive days this week.
On Monday, the British Columbia, Canada-based company announced an exclusive partnership with Nextleaf Solutions Ltd (CSE:OILS) and its IP relating to the creation and sales of products for its portfolio companies, including BevCanna's white-labeled products and house brands.
On Tuesday, the company announced the definitive agreement between the company and Clearwater CannGrow Inc. Per the deal, Clearwater will grow organic outdoor cannabis on 130 acres of land at BevCanna’s Osoyoos, B.C. location. The agreement runs for an indefinite term.
The Nextleaf partnership is expected to increase areas of operation in the lead up to legal Canadian commercial edible sales within the next year. BevCanna previously stated it plans to sell THC and THC/CBD blended sparkling water and iced tea products once sales are legal.
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In a press release, Emma Andrews, BevCanna's Chief Commercialization Officer, discussed how Nextleaf's IP benefits the company's process.
"Their patented extraction and purification process will allow our beverages to be made with odorless, tasteless cannabinoids, resulting in a superior taste and consumption experience," she said.
The Clearwater deal combines BevCanna’s beverage experience across bottling and branding with Clearwater’s cannabis cultivation and operations know-how.
Clearwater expects to bring its expertise to BevCanna’s outdoor cultivation efforts. Joey Bedard-Brunet, Clearwater’s agricultural consultant, will plan and operate the site in accordance with GMP practices.
“Joey’s expertise across a range of agricultural industries strongly complements BevCanna’s manufacturing and branding expertise. Together we’ll be an unbeatable combination,” said BevCanna Chief Strategic Officer John Campbell.
BevCanna expects to produce in excess of 100,000 kg of biomass with yields of more than 10,000 kg of cannabinoids with the agreement in place.
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