BevCanna Enterprises Inc (CSE:BEV) (OTCMKTS:BVNNF), the cannabinoid-infused beverage specialist, has an array of goals for the second half of the year, including moving towards the launch of a water-soluble powder beverage line in California, it told investors.
In a corporate update, the group said it was also continuing discussions with multiple Canadian licensed producers for white-label manufacturing of cannabis-infused drinks for the Canada market.
It also aims to form research and development relationships with Canadian and US producers looking to enter the Canadian market with their infused product portfolio.
Last week, BevCanna unveiled a deal with private firm Higharchy Ventures Ltd to make and launch cannabis beverages for sale in Canada amid the potential legalization of the drinks in the country this month.
The group also aims to refine and roll out its in-house brand concepts in Canada and the US, including its first brand -- Anarchist Mountain Beverages and ice tea brand Gruv Beverages.
"Additionally, Bevcanna is in the final development stage for a third product line that will be the catalyst for the launch of the company's water-soluble powder beverage line in California," the firm said in today's statement.
Based in British Columbia, BevCanna has a 130-acre outdoor cultivation site in the fertile Okanagan Valley, along with exclusive rights to a pristine spring water aquifer, as well as a world-class 40,000 sq ft manufacturing facility, with a current bottling capacity of up to 72 million bottles per shift per year.
Recently, the firm finalized the definitive agreement with Clearwater CannGrow to act as contract cultivator at the 130-acre outdoor cultivation site.
Land clearing and plowing, irrigation, equipment purchases, drying facility buildout, planting of a cover crop, and fencing have all begun, it told investors.
Shares eased 1.89% to C$0.52 in Toronto.
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