Latest news for Molson Coors Canada (OTC:MXGBF) Stock

Molson Coors Canada

Molson Coors Canada Inc is a large global brewer and distributor of beer and other malt beverages. Its brands include Coors Light, Miller Lite, Molson Canadian, Carling, Staropramen, Coors Banquet, Blue Moon, Vizzy, Leinenkugel, and Creemore. Its two segments are the Americas and EMEA&APAC segments. Americas segment operates in the U.S., Canada and various countries in the Caribbean, Latin and South America and the EMEA&APAC segment operates in Bulgaria, Croatia, Czech Republic, Hungary, Montenegro, the Republic of Ireland, Romania, Serbia, the U.K., various other European countries, and certain countries within the Middle East, Africa and Asia Pacific. Its breweries are located across the U.S., Canada, and Europe, with the majority of the company's revenue generated in the Americas.

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As several major food makers are champing at the bit to cash in on the CBD food and drinks craze, it seems the FDA is still not down with the program.

FDA Says No Way To Food Companies Wanting To Get On The CBD Gravy Train

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Hexo&#39;s Joint Venture Truss Beverage To Launch 15 New Cannabis-Infused Beverages

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As several major food makers are champing at the bit to cash in on the CBD food and drinks craze, it seems the FDA is still&nbsp;not down with the program.

While all products containing CBD, or cannabidiol, are illegal under the FDA&rsquo;s rules and regs whether they&#39;re&nbsp;part of food, bubbly drinks consumed on the Pickleball court or dietary supplements, the FDA is inordinately strict about CBD-laced food and justifiably&nbsp;<a href="https://www.benzinga.com/markets/cannabis/22/05/27228065/fda-warns-about-thc-copycat-edibles-children-in-serious-danger">abhors&nbsp;&ldquo;copycat&rdquo; candy edibles</a>&nbsp;containing THC.&nbsp;

The agency&nbsp;<a href="https://www.benzinga.com/markets/cannabis/21/12/24431750/bipartisan-bill-urges-fda-to-regulate-hemp-derived-cbd-foods-usda-amends-hemp-insurance-coverage">recently warned Congress</a>&nbsp;that any attempts to legalize CBD in food products would put public health at risk. Shortly after, a&nbsp;bipartisan group of House members&nbsp;<a href="https://www.benzinga.com/markets/cannabis/22/09/28887845/fda-and-its-completely-inadequate-response-to-hemp-law-request-and-lack-of-cbd-regulations-heres">sent a letter to the&nbsp;FDA&nbsp;commissioner</a>&nbsp;to&nbsp;complain&nbsp;about the agency&#39;s&nbsp;&ldquo;completely insufficient response&rdquo; to their bill, which called for hemp-derived CBD to be permitted and regulated as a food additive.&nbsp;

<h3>Enter Food And Beverage Companies: Who Can Blame Them?</h3>

The FDA&rsquo;s position to allow or not to allow&nbsp;CBD in food and beverages could have huge implications for a particular $1 trillion market, that is to say: food.&nbsp;

Several major food and drink makers, like Molson Coors (OTCPK: MXGBF), have&nbsp;<a href="https://www.benzinga.com/markets/cannabis/21/01/19243852/molson-coors-cbd-drink-could-be-a-stepping-stone-to-thc">launched their own lines of CBD-infused</a>&nbsp;products. And many more, from Anheuser-Busch&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BUD#NYSE">BUD</a>)&nbsp;to Mondelez International&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MDLZ#NASDAQ">MDLZ</a>)&nbsp;are all eager to do the same.&nbsp;

However, food companies are having to cool their jets until they get the go-ahead from the FDA, said&nbsp;Roberta Wagner, vice president of regulatory and technical affairs for the&nbsp;Consumer Brands Association, which represents food makers like General Mills (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GIS#NYSE">GIS</a>), Hostess (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TWNK#NASDAQ">TWNK</a>)&nbsp;and Campbell&rsquo;s Soup&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CPB#NYSE">CPB</a>).

The FDA&rsquo;s hardline CBD food&nbsp;stance contrasts with the agency&rsquo;s approach toward CBD in dietary supplements.&nbsp;Many professionals agree that&nbsp;there is woefully insufficient research on the health risks of adding CBD to food and all things cannabis for that matter.&nbsp;

<h3>But Still...</h3>

&ldquo;They seem to concede that there should be a pathway for dietary supplements, but they seem opposed to food and beverages,&rdquo; said Jonathan Miller, the general counsel of the Hemp Roundtable.

Wagner, per STAT, agrees.&nbsp;&ldquo;Our members want a regulatory pathway established for CBD &hellip; before they&rsquo;re ever going to start introducing those products to the marketplace.&nbsp;They&rsquo;re just not going to take the risks when the FDA has come straight out and said CBD is not allowed for use in conventional foods.&rdquo;

A regulatory path&hellip;isn&rsquo;t that what everyone involved in this wild and crazy&nbsp;industry wants?&nbsp;

Photo: Benzinga creation,&nbsp;Wikipedia Commons

&nbsp;

Truss Beverage Co. a joint venture between affiliates of Molson Coors Canada (OTCPK:MXGBF) and HEXO Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/HEXO#NASDAQ">HEXO</a>), is expanding its portfolio with 15 new cannabis beverages for summer. 

Hexo&rsquo;s Joint Venture Truss Beverage To Launch 15 New Cannabis-Infused Beverages

&quot;Consumers are looking for other adult-beverage options to alcohol, particularly for social occasions, and are turning to cannabis beverages as a great alternative,&rdquo; stated Dave Schlosser, president and CEO of Truss Beverage Co. &ldquo;With many eager to get out and socialize this summer, this is a critical time for the category and we&#39;re excited to see where it takes the business.&rdquo;

Consisting of summer-inspired flavors, the new products are a result of consumer-driven insights, including requests for less sugar and more high-dose beverages (10mg of THC). In addition to launching the XMG ALT line extension in April, new products are:

<ul>
	<li>
	Little Victory Celtzer Lime, Little Victory Celtzer Raspberry, Little Victory Sparkling Peach (the Little Victory Celtzers will be available as a Mixer 4-pack in Ontario only)
	</li>
	<li>
	Bedfellows Sour Razpaartner, Bedfellows Doppelr&auml;dder, Bedfellows Passionfruit Pals
	</li>
	<li>
	XMG Blue Raspberry, XMG Lemon Iced Tea
	</li>
	<li>
	XMG Sodas, featuring a line-up of four flavors: Cream Soda, Root Beer, Orange Soda and Cola
	</li>
</ul>

&ldquo;When developing our offerings, we tapped into summer beverage trends and formats that are already familiar to consumers,&rdquo; stated Lori Hatcher, head of commercial at Truss Beverage Co. &ldquo;The Little Victory Celtzer is a cannabis-infused (non-alcoholic) twist on the classic summer seltzer with zero sugar and zero calories, while the new additions to the Bedfellows portfolio were inspired by traditional radlers, pale-ales and sours, and are the first of their kind in Canada.&rdquo;

The new products from the Truss Beverage Co. portfolio will continue to roll out at authorized local cannabis stores and online retailers this summer. Product availability differs per province. 

Photo: Courtesy of Truss Beverage Co.

Related News

<a href="https://www.benzinga.com/markets/cannabis/21/11/23832539/molson-coors-hexo-truss-two-roots-collaborate-new-cannabis-infused-drink-headed-for-the-shelves">Molson Coors, HEXO, Truss &amp; Two Roots Collaborate: New Cannabis-Infused Drink Headed For The Shelves</a>

<a href="https://www.benzinga.com/markets/cannabis/21/04/20621085/molson-coors-hexo-cannabis-jv-truss-beverage-to-launch-six-new-products-this-summer">Molson Coors, HEXO Cannabis JV Truss Beverage To Launch Six New Products This Summer</a>

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