Get the Latest Investment Ideas Delivered Straight to Your Inbox.

News Update

TICKERS: SPR; SRUTF

JV with Moosehead Breweries Readying Cannabis-Infused Beverages for Commercialization
News Update

Source:

Progress has been made in all areas, from testing the product to evaluating distributors.

Sproutly Canada Inc. (SPR:CSE; SRUTF:OTCQB) provided in a news release an update on its development of cannabis-infused beverages through its joint venture with OCC Holdings, a Moosehead Breweries affiliate.

Joint venture CEO Matthew Oland, a former Moosehead senior executive, said his team has made significant pre-commercialization strides regarding the beverages it intends to sell in the Canadian market through Toronto Herbal Remedies Inc. (THR), Sproutly's Health Canada-licensed cannabis producer.

"I am confident in our ability to deliver a great tasting beverage to Canadians that provides a controlled, strain-specific cannabis experience utilizing Sproutly's naturally water soluble cannabinoids known as Infuz20," Oland said in the release.

The joint venture intends for the infused beverages to be flavorful, premium products that deliver a cannabis effect within five minutes and lasts 60 to 90 minutes but that lack any cannabis aroma, taste or sediment. The initial target market is casual and canna-curious consumers.

The joint venture completed work in the areas of brand development, product development, go-to-market strategies, and manufacturing, logistics and operations.

Specifically, for the brand, a name, logo, identity, architecture and strategy for positioning the joint venture in the market were developed. A corporate name was decided, website domains were obtained and website development was started.

Regarding the product itself, testing of various beverage formulations was done to determine ideal characteristics, including flavor profile, sweetness, color, calories, THC dosages and cannabis strain. Packaging and labeling options were evaluated. The joint venture engaged a market research firm to test the brand and product with consumers and identify their preferences.

Work that was completed for taking the product to the market includes presentations to provincial cannabis regulatory agencies and choosing private retailers to help delineate initial launch markets. Commercialization details were decided, such as preferred markets, pricing and product positioning. The joint venture began formulating a marketing plan with assistance from an outside brand and marketing agency.

As for manufacturing, logistics and operations, it was decided that THR will use third party contract manufacturers, or co-packers, to make the product. A number of them were assessed, and discussions with the preferred ones began. Third-party distribution firms were assessed. Discussions with cannabis regulators continued regarding supply chain logistics and distribution.

[NLINSERT]

Disclosure:
1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Sproutly Canada. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this interview, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Sproutly Canada, a company mentioned in this article.




Want to read more about Cannabis investment ideas?
Get Our Streetwise Reports Newsletter Free and be the first to know!

A valid email address is required to subscribe