Canadian cannabis producer Tilray is partnering with Anheuser-Busch - makers of Budweiser - to research marijuana-infused beverages.
The two companies have committed $50 million each to research both drinks infused with marijuana's psychoactive compound THC and the non-psychoactive ingredient CBD. But people who are dying to drink some Bud Green shouldn't get their hopes up as Tilray Chief Executive Brendan Kennedy says they will not be developing any commercially available products as of yet.
"For us, it's early days in this industry and research feels like the right place to start," Kennedy told MarketWatch following Wednesday's big announcement.
However, Kennedy did say that at some point, they do intend to create "iconic and responsible cannabis infused beverages and brands."
With the Canadian government's recently proposed regulation on marijuana edibles, which are expected to be legalized sometime next year, it seems likely that Tilray and Anheuser-Busch are aiming to get some products ready for the market when it launches. And for now, at least, this will be a strictly Canadian partnership, as Tilary will be working directly with Anheuser-Busch subsidiary Labatt Breweries of Canada.
The announcement comes after several other prominent beer-makers have made their own moves towards the canna-beverages space. Back in August, Corona makers Constellation Brands announced a $5 Billion investment in the Canadian cannabis producer Canopy Growth, and Molson-Coors has also hinted at plans to enter the market.