Waterloo Brewing is getting in on the booming cannabis industry.
On Wednesday the company announced they have secured a research license from Health Canada to begin development on a new cannabis-infused beverage (CIB).
"The cannabis market has garnered a great deal of investor interest and after an in-depth review of our strategic options, the company is positioning itself to be a major producer of CIB's and to take full advantage of this new and developing beverage category," said President and CEO George Croft in a press release. "We plan to be the production partner of choice for the beverage cannabis business."
Waterloo Brewing believes they’re uniquely qualified to launch this kind of product.
“We have the equipment, the scale, the technical know-how and the speed to be able to pull this off in this extremely tight timeframe,” said COO Russell Tabata in the release.
Waterloo Brewing is planning to have the new product in stores as soon as 2020.
