logo-loader
viewHill Street Beverage Company Inc.

Hill Street Beverage talking with third-party canning and bottling services following canceled acquisition of OneLeaf Cannabis

The company said it believes working with third-parties to produce its cannabis-infused beverages will prove to be in shareholders' best interest

Glass of beer with a cannabis leaf in it
On October 1, the due diligence period for the proposed acquisition of OneLeaf expired, and the companies chose not to proceed with the deal

Hill Street Beverage Co (CVE:BEER) (OTCMKTS:HSEEF) told investors that it expects to come to an agreement with one or multiple third-party bottling and canning services following the cancellation of its proposed acquisition of OneLeaf Cannabis Corp on October 1. 

In a statement released Monday, the company said it believes working with third-party companies to produce its cannabis-infused beverages will prove to be in the best interest of shareholders.

“We believe this avenue to produce our cannabis infused products will prove to be the best use of capital in a fast-moving industry where fundamental regulatory changes, coupled with changes in available suppliers, technologies, and services are likely to occur on a regular basis,” the company added.

READ: Lexaria Bioscience, Hill Street Beverage sign 10-year joint manufacturing partnership for DehydraTech products

The Toronto-based company said it expects to announce an agreement in the near future with one or more such service providers to accelerate the launch of its cannabis beverage products. 

Edible cannabis products became legal in Canada on October 17, and the sale of cannabis beverages is expected to begin in Canada in December — the earliest a product could hit the market following the required 60-day Health Canada notice period.

On October 1, the due diligence period for the proposed acquisition of OneLeaf expired, and the companies chose not to proceed with the transaction.

Contact Andrew Kessel at [email protected] 

Follow him on Twitter @andrew_kessel

Quick facts: Hill Street Beverage Company Inc.

Price: 0.06 CAD

TSX-V:BEER
Market: TSX-V
Market Cap: $5.78 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Hill Street Beverage Company Inc. named herein, including the promotion by the Company of Hill Street Beverage Company Inc. in any Content on...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Full interview: Hill Street Beverage signs cannabis co-packing deal with...

Hill Street Beverage (CVE: BEER) CEO Terry Donnelly joined Steve Darling from Proactive Vancouver to discuss their new co-packing agreement with a new company called Peak Processing Solutions. Donnelly telling Proactive how this deal came about why it needed to happen. Donnelly also talked...

1 day, 18 hours ago

2 min read