Molson Coors & HEXO Corp Expand Partnership with Joint Hemp Venture in Colorado

From Molson Coors:

GOLDEN, CO & MONTREAL-Molson Coors Beverage Company & HEXO Corp have formed a joint venture to explore opportunities for non-alcohol hemp-derived CBD beverages in Colorado. Established in Colorado, the joint venture (“Truss CBD USA”) will be majority owned by Molson Coors and will operate as a standalone entity with its own board of directors, management team, resources and go-to-market strategy.

“I am thrilled with the opportunity to bring those learnings to Colorado, under the leadership of Molson Coors, Powered by HEXO.”

“CBD beverages are a growing segment within the non-alcohol beverage category and this JV provides us an opportunity to build capabilities in Colorado,” said Molson Coors president of emerging growth Pete Marino. “We chose Colorado because of its established regulatory framework for CBD and we plan to approach any opportunities in full alignment with our commitment to commercial responsibility, transparency and compliance.”

Exploring hemp-derived CBD beverages is part of Molson Coors’ strategy to grow beyond the beer aisle with wine and spirits and non-alcohol drinks. Molson Coors and HEXO have another joint venture to produce non-alcohol cannabis-infused beverages for the Canadian market called Truss Beverages (“Truss”). Truss has been preparing for launch, including completion of product formulations, branding and construction of a cannabis beverage production facility in Belleville, Ontario. Truss is expected to launch its first beverages in Canada later this year.

“Molson Coors and HEXO have already built a great partnership in Canada that we believe will produce some of the best adult non-alcohol beverage brands in the Canadian market,” added Sebastien St-Louis, CEO and co-founder of HEXO. “I am thrilled with the opportunity to bring those learnings to Colorado, under the leadership of Molson Coors, Powered by HEXO.”

All production and distribution for Truss CBD USA will be kept within Colorado state lines since it is one of a few states that has an established regulatory framework for hemp-derived CBD in food and beverages. No hemp-derived CBD products will be produced at Molson Coors facilities.

Overview of Molson Coors Beverage Company

For over two centuries Molson Coors has been brewing beverages that unite people for all of life’s moments. From Coors Light, Miller Lite, Molson Canadian, Carling, and Staropramen to Coors Banquet, Blue Moon Belgian White, Saint Archer Gold, Leinenkugel’s Summer Shandy, Creemore Springs and more, Molson Coors produces some of the most beloved and iconic beer brands ever made. While the company’s history is rooted in beer, Molson Coors offers a modern portfolio that expands beyond the beer aisle with sparkling cocktails, hard coffee, canned wine, kombucha, cider and more.

Molson Coors Beverage Company is a publicly traded company that operates through Molson Coors North America and Molson Coors Europe, and is traded on the New York and Toronto Stock Exchanges. The company’s commitment to raising industry standards and leaving a positive imprint on our employees, consumers, communities and the environment is reflected in Our Beer Print and our 2025 sustainability targets. To learn more about Molson Coors Beverage Company, visit www.molsoncoors.com.

Overview of HEXO Corp

HEXO Corp is an award-winning consumer packaged goods cannabis company that creates and distributes innovative products to serve the global cannabis market. The Company serves the Canadian adult-use markets under its HEXO Cannabis and Up Cannabis brands, and the medical market under HEXO medical cannabis. For more information please visit hexocorp.com.