News broke yesterday that Aurora, one of the leading names in Canada's fledgling cannabis sector, has been in talks with Coca-Cola on the development of cannabis-infused beverages, a revelation that caused Aurora's stock to jump over 16 per cent in Monday's trading.
The CBD drinks would likely aim to ease inflammation, pain and cramping, the BNN report said https://www.bnnbloomberg.ca/coca-cola-in-talks-with-aurora-to-develop-cannabis-drinks-sources-1.1138528#_gus&_gucid=&_gup=twitter&_gsc=gQCuZEQ.
The Coca-Cola Company says that it's "closely watching" the growth of the use of a non-psychoactive element of cannabis in wellness drinks.
Coca-Cola is the latest in a growing line of drinks companies to have shown an interest in the production of cannabis drinks.
"The space is evolving quickly", Coca-Cola said.
It says it hasn't made any decisions about using it in coke products.
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The companies declined to comment on the report but acknowledged their interest in that segment of the cannabis market. Tilray jumped 6.8 percent, adding to its 40 percent gain last week; Cronos rose 3.1 percent and Canopy's USA shares climbed 2.9 percent.
Constellation Brands, a giant spirits company that counts Corona beer among its labels, bought a multibillion-dollar minority stake in Canopy Growth, a Canadian medical marijuana producer.
Aurora is Canada's third-largest cannabis maker, with a market value of C$8.7 billion.
Shares of the company, Aurora Cannabis Inc., closed up almost 17 percent on the Toronto Stock Exchange after the report.
The beverage giant wants to develop the drink to relieve consumer pain, not intoxicate them, according to Canada's BNN Bloomberg. CBD, or cannabidiol, is the chemical in the pot plant often used for medicinal purposes, and doesn't produce the high that comes from THC, or tetrahydrocannabinol.
On a potential Coca-Cola deal, Booth says, "Coca-Cola would be a great partner but we can't comment on speculation as of this time".