BevCanna Partners With Nextleaf To Produce THC And CBD Infused Beverages

BevCanna Enterprises Inc. BEV BVNNF disclosed Tuesday it has inked a supply deal with Nextleaf Solutions Ltd. OILS OILFF.

Under the deal, Vancouver producer of cannabinoid-infused beverages, will utilize Nextleaf's Rapid Emulsion Technology by OILS THC and CBD concentrate to produce its in-house branded and white-label products.

Nextleaf spent a decade researching and developing a patent-pending emulsion technology designed for cannabinoids to allow the rapid onset of THC, CBD, as well as other cannabinoids.

Melise Panetta, the company's president, said they are "excited" to partner with Nextleaf.

"BevCanna and Nextleaf are working closely together to produce the highest-quality cannabinoid beverages on the market today," she explained.

Panetta was recently tapped to serve as the company's president after working within the CPG sector in several companies, including General Mills GIS, PepsiCo PEP, and S.C. Johnson.

Moreover, last month, BevCanna finalized a months-long process of acquisition of the beverage developer and manufacturer Naturo Group Investments Inc.

Currently, BevCanna runs both companies' joint business, as Naturo became its wholly-owned subsidiary.

The transaction boosted the company's balance sheet by bringing over $55 million in assets.