Australian-Swiss cannabis company Creso Pharma (ASX: CPH) has announced its new line of cannabis infused beers and tonics is in production.
The beverages are being developed through Creso's joint venture partners Baltic Beer Company and LGC Capital.
The drinks, which are currently brewing in Creso's newly built European facility, will be sold across Europe and Canada initially with global sales to follow soon after.
The beers do not contain any THC or CBD which are the intoxicating elements of cannabis. Instead they are brewed with terpenes, the natural oils which carry the flavour and aroma of cannabis.
The terpenes are extracted from various plant sources and are introduced to the beer at the post-fermentation stage similarly to how hop extracts are added to regular beer.
LGC Capital is a new entrant into Creso and Baltic Beer Company's joint venture project, and was recently accepted into the partnership by the TSX Venture Exchange.
READ MORE ABOUT CRESO PHARMA ON THE CANNABIS INDEX
Creso co-founder and CEO Dr. Miri Halperin Wernli says the joint venture project is an important part of Creso's plans for growth.
"We see [the venture] as an exciting business partnership that we believe can add significant sales revenues to Creso Pharma over the coming years," says Wernli.
"Europe will be the initial focus for sales, as Europe is the home for the Baltic Beer Company's mutli award winning Viru beer. The company also plans to launch in Canada this summer."
This latest development from Creso follows its announcement in March that it has developed a new product range for the sports and osteoarthritis market.
The product, called cannaDOL, is a cannabidiol-based oral nutraceutical that fulfils the demand for an organic and efficient product to relieve muscle and joint pain in sports people and osteoarthritis sufferers.
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