- BevCanna is rapidly increasing its footprint within the Canadian functional beverages market
- The company has recently entered into a sales service agreement with Velvet Management Inc., Canada’s leading cannabis sales agency
- BevCanna has also separately announced that its highly sought-after products will now be distributed by the British Columbia Liquor Distribution Branch, Canada’s fourth largest provincial cannabis product retailer
- The moves bode positively for BevCanna in consolidating its position as a preeminent white label partner operating within the Canadian cannabis market
BevCanna Enterprises (CSE: BEV) (OTCQB: BVNNF) (FSE: 7BC), a diversified health & wellness beverage and natural products company developing and manufacturing a range of alkaline, plant-based and cannabinoid beverages and supplements for both in-house brands and white-label clients has recently announced a series of new corporate developments, designed to further broaden its commercial prospects moving forward.
BevCanna announced that it had recently entered into a sales service agreement with Velvet Management Inc., Canada’s leading cannabis sales agency. Shortly thereafter, the company simultaneously revealed that it had signed a number of product purchase agreements with the British Columbia Liquor Distribution Branch (“BCLDB”), a testament to BevCanna’s rapidly expanding distribution network across Canada. This agreement comes on the heels of two similar agreements with Alberta Gaming and Liquor Commission (“AGLC”) and Ontario Cannabis Store (“OCS”).
Functional drinks and drinks based on plant derivatives — including those containing cannabis- or hemp-derived ingredients like cannabidiol (“CBD”) or tetrahydrocannabinol (“THC”) — have rapidly established themselves as one of the fastest-growing verticals within the North American beverage industry, with a recent study forecasting the global cannabis drinks sector to triple in value to $5.8 billion by 2024. While a number of large global brands, including AB InBev and Molson Coors have recently announced plans to produce CBD-containing products, there is no doubt that the cannabis drinks market remains largely untapped (https://cnw.fm/0bJfz).
A recent report by industry think-tank (https://cnw.fm/wGJAS), Expert Market Research, elaborated on the potential within the North American cannabis beverage market:
“Cannabis consumers are shifting their interest from smoking cannabis to other ways, like beverages, tinctures, chocolates, and other edibles,” the report noted. “Consumers are willing to consume concentrated and cannabis-infused products, which successively is anticipated to support the market growth. Cannabis beverages are predicted to exchange other marijuana-infused consumables, like chocolates, cookies, brownies, and confectionaries like gummies and candies, which are considered to be not healthy. This factor is predicted to spice up the demand for cannabis drinks over the forecasted period.”
BevCanna has sought to leverage the ongoing growth within the sector through its full-service white label beverage manufacturing solution, enabling the company’s partners to efficiently and economically gain access to the burgeoning Canadian functional beverage market. BevCanna possesses a 40,000 square-foot beverage manufacturing facility which is HACCP-certified, with capabilities including blow-molding, dosing, carbonation options, filling and capping, pressure-sensitive and shrink-sleeve label applications, flash pasteurization, QA testing, and packing/palletizing for shipment. Moreover, through its distribution network featuring over 3,000 points of retail distribution across Canada, BevCanna enables its partner brands to rapidly expand their geographical footprint within the Canadian market.
BevCanna recently partnered with Velvet Management, a premier full-service cannabis marketing agency that represents Canadian Licensed Producers, at all levels of selling and marketing, to government buyers and private retailers (https://cnw.fm/F0LiR).
“Engaging Velvet, a leading agency in the Canadian market, will accelerate our sales penetration nationally and build awareness through its substantial network of retailers,” said Melise Panetta, President of BevCanna.
The company shortly followed up on the Velvet Management tie-up news with the announcement of a collaboration with the British Columbia Liquor Distribution Branch, Canada’s fourth largest provincial distributor in terms of cannabis sales, boasting over $1 billion on an annual basis (https://cnw.fm/ovLGQ). The BCLDB has recently revealed that it will carry Keef Brands’ popular Bubba Kush Root Beer and Orange Kush Classic Soda products within their retail network, a move that will be decidedly beneficial for BevCanna, with the company acting as the exclusive manufacturer of Keef Brands products in Canada. (As already mentioned above, this comes on the heels of two similar agreements with AGLC and OCS).
For more information, visit the company’s website at www.BevCanna.com.
NOTE TO INVESTORS: The latest news and updates relating to BVNNF are available in the company’s newsroom at http://cnw.fm/BVNNF
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