BevCanna Signs Definitive Agreement with Higharchy Ventures to Create and Manufacture Cannabis Infused Beverages in Canada

Emerging leader in infused cannabis beverages, BevCanna Enterprises Inc. (CSE:BEV, Q:BVNNF, FSE:7BC), announced today the signing of a definitive agreement with Higharchy Ventures Ltd., a private company incorporated under the laws of the Province of British Columbia (“Higharchy”), to develop, manufacture and launch a portfolio of cannabis beverage brands for distribution in Canada through Higharchy’s growing retail cannabis network. Drinks infused with cannabis or cannabis-derived cannabidiol (CBD) are expected to disrupt the beverage industry as these beverages are projected to be legalized in Canada in October 2019.

“This partnership is a great opportunity to work closely with another emerging leader in the Canadian cannabis space,” said Emma Andrews, Chief Commercialization Officer at BevCanna. “We’ll leverage our existing manufacturing expertise and facilities to help Higharchy realize their vision of producing world-class brands and products, and we will in turn benefit from Higharchy’s retail holdings as we launch our own beverage brands in Canada.”

Under the agreement, BevCanna agreed to manufacture Higharchy’s beverage-related brands, including both in-house and established brands to which Higharchy has or will acquire the Canadian rights. In turn, BevCanna will be a preferred supplier through Higharchy’s cannabis retail holdings where regulations permit. BevCanna will also be the manufacturer of choice, through first right of refusal for additional products and brands outside of the beverage category which Higharchy may develop or acquire.

“At Higharchy, our team brings experience from some of the today’s most respected and loved consumer brands and as a result, intuitively knows the importance and value of building and delivering on consumer-centric experiences,” says Matt Christopherson, Higharchy CEO & Founder and a BevCanna board director. “As we grow and shape cannabis brands, our Higharchy team is committed to delivering beyond shareholder value and serving by doing good for both people and planet.”

Higharchy invests both capital and expertise to the cannabis industry to create and build purpose-led brands that deliver profitable growth and which also contribute to the sustainability and vitality of people, the communities where they live, work and play, and the planet. Higharchy’s flagship investment, West Coast Cannabis Store, is set to open in fall 2019 in both British Columbia and Alberta; is currently the largest shareholder in Suprette, a cannabis retailer in Ottawa, Ontario where in its first five months of business, generated over $7M in sales; and, through a loan provided to Higharchy Brands (US) Ltd., is an investor in Keef Brands – one of the largest infused beverage brands in the United States.