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BevCanna Enterprises Inc

BevCanna Enterprises launches Grüv Beverages, a range of CBD-infused iced tea drinks

The new line will be available initially in the US and in Canada following the legalization of infused products in October 2019

BevCanna Enterprises Inc - BevCanna Enterprises launches Grüv, a new line of CBD-infused iced tea drinks
Grüv will be available in a 375ml ready-to-drink beverage

BevCanna Enterprises Inc (CSE:BEV) is expanding its product line of cannabis-infused beverages with the launch of a new label, Grüv Beverages.

The new line encompasses a range of CBD-infused iced tea beverages, Vancouver-based BevCanna said in a statement on Monday.

Shares of BevCanna shot up 18.8% on Monday, reaching C$0.76 by midmorning in Toronto.

READ: BevCanna study finds more than 70% of Canadian consumers would buy CBD-infused beverages

Grüv was developed in response to BevCanna’s recently completed North American-wide consumer study, which focused on product and consumption preferences within the cannabis-infused beverage market.

“Iced tea was among the top five performing concepts, among 25 product concepts tested,” said Emma Andrews, chief commercialization officer at BevCanna. “We are also choosing to launch this brand with a balanced THC and CBD profile (1:1 ratio), in order to provide consumers with a mild, yet effective cannabis experience.”

The new line will be available in the US, one of the first to be launched by BevCanna in the country. The company expects to sell into Canada following the expected legalization of edibles and infused products in October 2019.

Grüv will be available in a 375ml ready-to-drink beverage, with 5mg of THC and 5mg of CBD infused in an alkaline spring water base. Powdered drink mixes are also in the pipeline, BevCanna said.

--Updates share price--

Contact Angela at [email protected]

Follow her on Twitter @AHarmantas

Quick facts: BevCanna Enterprises Inc

Price: $0.49

Market: CSE
Market Cap: $22.3 m
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