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.
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.
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