The Vancouver-based firm develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white-label clients.
The company's business objectives for the upcoming six months include finishing testing its water-soluble, powder-based beverages in the US as well as entering into multiple letters of intent with Canadian licensed producers for white-label manufacturing of cannabis-infused beverages.
The firm is also in the midst of identifying a suitable partner and finalizing a cultivation crop-sharing agreement with an established Canadian licensed producer, in regards to the firm's 100-acre outdoor cultivation site in the Okanagan Valley, British Columbia.
Significant agreement with Naturo Springs
At the end of June, the firm inked an exclusive master lease and services agreement with beverage manufacturer, Naturo Springs. The move gives BevCanna exclusive access to Naturo Springs's alkaline spring water aquifer, which the company will source its water to infuse with cannabidiol and tetrahydrocannabinol for its cannabis-infused beverage products.
In addition to this, the parternship also enables BevCanna to cultivate its own sun-grown cannabis biomass, through leasing 100 acres from Naturo Springs. Bevcanna was recently awarded a hemp cultivation licence from Health Canada and is subsequently pursuing a cannabis cultivation licence.
The biomass and spring water will form the basis of Bevcanna's range of innovative infused beverages for both house brands and white-label clients.
Naturo Springs has also agreed to allocate its 40,000 sq/ft HACCP-approved (hazard analysis and critical control points) bottling facility and warehouse for exclusive use by BevCanna. A standard processing licence has already been applied for on the existing facility, and Bevcanna is in the final evidence submission stage.
"We're incredibly excited to leverage Naturo Springs's unparalleled natural resources, as well as their extensive manufacturing expertise," said John Campbell, chief strategic officer of Bevcanna. "This partnership will support Bevcanna's transformation from an emerging leader into a global force in cannabis-infused beverages and will provide an early-mover advantage within the industry."
Also commercializing in-house brands and formulations
"The scalable infrastructure and assets obtained through this deal will allow us to commercialize our own in-house brands and formulations, and will also work with white-labelling partners across Canada," said chief commercialization officer Emma Andrews. "There's unmatched expertise on our team and untapped potential within the infused product landscape."
Naturo Springs has also obtained preapproval from the Agricultural Land Commission to expand the facility up to 170,000 sq/ft, which will be used for Bevcanna's future growth strategy. The bottling plant's current capacity is 72 million bottles per shift/per year.
Contact Katie Lewis at [email protected]