An international beverage joint venture spearheaded by Australian-grown medical cannabis company Creso Pharma (ASX: CPH) has announced the imminent launch of a range of hemp-based beers and adult soft drinks into select markets worldwide.
The JV between Creso Pharma, LGC Capital and UK-based Baltic Beer Company is currently fermenting two bespoke beers at an advanced research and development facility in Estonia, under the newly-created brand Old Boy Mary Jane (OBMJ).
The beers – OBMJ Ghost Bog Hazy IPA and OBMJ Improper Kolsch – are scheduled for packing and shipment next month to UK distributors.
Discussions have also commenced with distributors in Australia, Canada and Israel.
Additional beer distribution partners have been identified in Europe, far East Asia, Central and Latin America, Africa and New Zealand.
The adult soft drinks, which are still in the development process, will be juice-based and marketed under the newly-created Gypsy brand.
Like OBMJ beers, Gypsy drinks will contain various terpene blends and be offered in soft drink, sparkling and tonic water varieties.
Gypsy drinks are scheduled for recipe testing at month end.
Creso Pharma has been utilising advanced science and technology to develop, register and commercialise innovative cannabis and hemp-derived products since listing on the ASX in 2016.
The Creso Pharma JV was formed in 2017 to produce beers and adult soft drinks containing unique terpene blends, which carry the aroma and flavour of cannabis but are not derived from the plant and do not contain tetrahydrocannabinol (THC), cannabidiol (CBD) or other cannabinoids.
Terpenes declared safe for use
Terpenes are extracted from various plant sources, all of which are food-grade, 100% natural and non-genetically modified ingredients.
They are introduced to the beer at the post-fermentation stage in much the same manner as hop extracts are added.
Creso Pharma has previously confirmed that the terpenes used in OBMJ beers are pure, not contaminated with any other ingredient and are recognised by the US Food and Drug Administration as being safe for human consumption as flavouring and food additive ingredients.
Additional international regulatory bodies also classify terpenes as safe.
By midday, Creso Pharma’s share price was steady at A$0.715.