MMJ Group Holdings Ltd (ASX:MMJ) investment BevCanna Enterprises Inc (CNSX: BEV) will acquire the right, title and interest to DeeperGreen™, a proprietary water-soluble cannabinoid powder ingredient developed by partner Greener Frontiers.
This follows Canadian-based BevCanna exercising its option to acquire DeeperGreen, which converts extracted cannabis into a fast-acting, tasteless, odorless, water-soluble powdered ingredient.
Proven in testing
DeeperGreen has been proven to be a stable ingredient that when tested with cannabinoids, consistently delivers target concentrations within one batch and from batch-to-batch.
Independent laboratory testing has also confirmed that DeeperGreen precisely infuses granular drink mixes and ready-to-drink water beverages.
BevCanna chief commercialisation officer Emma Andrews said: “DeeperGreen technology expands BevCanna’s ability to produce a portfolio of cannabis infused beverage formats.”
She said: “The addition of a water-soluble powder allows us to offer consumers more variety in methods of consumption, which can now pair with various consumption occasions.
“Powdered drink mixes complement our existing expertise in ready-to-drink products and allow us to expand the innovation pipeline for our house brands, and with white label partners through contract manufacturing.”
Tests have confirmed that DeeperGreen and products infused with DeeperGreen meet the criteria to pass the current Cannabis Compliance Regulations set in California and will allow for reliable water-soluble infusion manufacturing processes and dosing confidence for consumers.
Last month BevCanna entered an amendment agreement to the Cannabis Beverage Joint Development Agreement with Greener Frontiers Corporation, owner of DeeperGreen.
This agreement will see Greener Frontiers continue to provide research and development, and commercialisation services to BevCanna for their lines of powdered and drink-based products.
Greener Frontiers has also agreed to work with BevCanna to explore the application of DeeperGreen as a food ingredient, for future potential commercialisation.
BevCanna Enterprises develops and manufactures cannabinoid-infused beverages and consumer products for in-house brands and white label clients.
Based in British Columbia, Canada, BevCanna has a 130-acre outdoor cultivation site in the fertile Okanagan Valley and exclusive rights to a pristine spring water aquifer.
It also has a world-class 40,000-square-foot, HACCP certified manufacturing facility, with a bottling capacity of up to 72 million bottles per shift/per annum.