New Partnership to Focus on Research that will
Guide Responsible Innovation
Today, AB InBev, the world’s leading brewer, and Tilray, a
global pioneer in cannabis production and distribution, announced a
partnership to research non-alcohol beverages containing
tetrahydrocannabinol (THC) and cannabidiol (CBD). The partnership
is limited to Canada and decisions regarding the commercialization
of the beverages will be made in the future.
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the full release here:
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The research partnership combines AB InBev’s deep experience in
beverages with Tilray’s expertise in cannabis products. AB InBev’s
participation will be through its subsidiary Labatt Breweries of
Canada, one of the country’s founding businesses and its leading
brewery, and Tilray’s participation will be through its Canadian
adult-use cannabis subsidiary High Park Company, which develops,
sells, and distributes a portfolio of socially responsible cannabis
brands and products in Canada. Each company intends to invest up to
$50 million USD, for a total of up to $100 million USD.
“Labatt is committed to staying ahead of emerging consumer
trends. As consumers in Canada explore THC and CBD-infused
products, our innovative drive is matched only by our commitment to
the highest standards of product quality and responsible marketing.
We intend to develop a deeper understanding of non-alcohol
beverages containing THC and CBD that will guide future decisions
about potential commercial opportunities,” said Kyle Norrington,
President, Labatt Breweries of Canada. “We look forward to learning
more about these beverages and this category in the months
ahead.”
“We are delighted to be joining forces with a world-leading
beverage company, AB InBev, to research how to create enjoyable
cannabis beverage products. Tilray and AB InBev share a commitment
to responsible product development and marketing, and we look
forward to beginning our work on this important partnership as
Tilray continues to pioneer the development of a professional,
transparent, and well-regulated cannabis industry,” said Brendan
Kennedy, CEO of Tilray.
With strong track records of responsible product development and
marketing in their respective industries, AB InBev and Tilray
believe that the legal market for THC and CBD beverages will only
thrive if the industry embraces appropriate regulation of adult-use
cannabis, including responsible production, marketing, sale and
consumption.
About AB InBevAB InBev is a publicly traded company
(Euronext:ABI) based in Leuven, Belgium, with secondary listings on
the Mexico (MEXBOL:ANB) and South Africa (JSE:ANH) stock exchanges
and with American Depositary Receipts on the New York Stock
Exchange (NYSE:BUD). Our Dream is to bring people together for a
better world. Beer, the original social network, has been bringing
people together for thousands of years. We are committed to
building great brands that stand the test of time and to brewing
the best beers using the finest natural ingredients. Our diverse
portfolio of well over 500 beer brands includes global brands
Budweiser®, Corona® and Stella Artois®; multi-country brands
Beck’s®, Castle®, Castle Lite®, Hoegaarden® and Leffe®; and local
champions such as Aguila®, Antarctica®, Bud Light®, Brahma®, Cass®,
Cristal®, Harbin®, Jupiler®, Michelob Ultra®, Modelo Especial®,
Quilmes®, Victoria®, Sedrin®, and Skol®. Our brewing heritage dates
back more than 600 years, spanning continents and generations. From
our European roots at the Den Hoorn brewery in Leuven, Belgium. To
the pioneering spirit of the Anheuser & Co brewery in St.
Louis, US. To the creation of the Castle Brewery in South Africa
during the Johannesburg gold rush. To Bohemia, the first brewery in
Brazil. Geographically diversified with a balanced exposure to
developed and developing markets, we leverage the collective
strengths of approximately 180,000 employees based in nearly 50
countries worldwide. For 2017, AB InBev’s reported revenue was 56.4
billion USD (excluding JVs and associates).
About Labatt Breweries of CanadaEstablished by John
Kinder Labatt in London, Ontario in 1847, Labatt Breweries is one
of Canada's founding businesses and its leading brewer. The company
today has more than 3,400 employees, six breweries, three
stand-alone craft brewers, and a portfolio of 60 quality beers,
including Budweiser, Alexander Keith's, Labatt Blue, Kokanee,
Stella Artois and Corona. Brands also include ready-to-drink
beverages such as Palm Bay and Mike's Hard Lemonade. As part of the
AB InBev family, Labatt is committed to Bringing People Together
for a Better World, making a positive contribution through multiple
programs that support its communities, promote responsible drinking
and protect the environment.
About Tilray®Tilray (NASDAQ:TLRY) is a global
pioneer in the research, cultivation, production and distribution
of cannabis and cannabinoids currently serving tens of thousands of
patients in twelve countries spanning five continents.
About High Park CompanyBased in Toronto and led by a team
with deep experience in cannabis and global consumer
brands, High Park was established to develop, sell, and
distribute a broad-based portfolio of world-class cannabis brands
and products in Canada, the first G-7 nation to legalize, regulate
and tax for responsible adult consumption.
Cautionary Note Regarding Forward-looking StatementsThis
press release contains “forward-looking statements” within the
meaning of the U.S. Private Securities Litigation Reform Act of
1995 and “forward-looking information” within the meaning of
Canadian securities laws, or collectively, forward-looking
statements. Forward-looking statements in this press release may be
identified by the use of words such as, “may”, “would”, “could”,
“will”, “likely”, “expect”, “anticipate”, “believe, “intend”,
“plan”, “forecast”, “project”, “estimate”, “outlook” and other
similar expressions and include statements relating to the AB InBev
and Tilray partnership, the potential investment of each party and
the possibility of commercialization at some point in the future.
Forward-looking statements are not a guarantee of future
performance and are based upon a number of estimates and
assumptions of management in light of management’s experience and
perception of trends, current conditions and expected developments,
as well as other factors that management believes to be relevant
and reasonable in the circumstances, including assumptions in
respect of current and future market conditions, the current and
future regulatory environment and future approvals and permits.
Actual results, performance or achievement could differ materially
from that expressed in, or implied by, any forward-looking
statements in this press release, and, accordingly, you should not
place undue reliance on any such forward-looking statements and
they are not guarantees of future results. Forward-looking
statements involve significant risks, assumptions, uncertainties
and other factors that may cause actual future results or
anticipated events to differ materially from those expressed or
implied in any forward-looking statements. Please see the heading
“Risk Factors” in Tilray’s Quarterly Report on Form 10-Q, which was
filed with the Securities and Exchange Commission and Canadian
securities regulators on November 14, 2018, and the risks and
uncertainties related to AB InBev described under Item 3.D of AB
InBev’s Annual Report on Form 20-F filed with the Securities and
Exchange Commission on March 19, 2018, for a discussion of the
material risk factors that could cause actual results to differ
materially from the forward-looking information. Tilray and AB
InBev do not undertake to update any forward-looking statements
that are included herein, except in accordance with applicable
securities laws.
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version on businesswire.com: https://www.businesswire.com/news/home/20181219005791/en/
LABATT / AB INBEVMediaTamar NersesianTel:
+1 416 361 5247Email: tamar.nersesian@labatt.com
Aimee BaxterTel: +1 718 650 4003E-mail:
aimee.baxter@ab-inbev.com
InvestorsLauren AbbottTel: +1 212 573 9287E-mail:
lauren.abbott@ab-inbev.com
Mariusz JamkaTel: +32 16 276 888E-mail:
mariusz.jamka@ab-inbev.com
Jency JohnTel: +1 646 746 9673E-mail:
jency.john@ab-inbev.com
TILRAYMediaChrissy Roebuck
(Tilray)Tel: +1 833 206 8161E-mail: news@tilray.com
InvestorsKatie Turner (Tilray)Tel: +1 646 277
1228E-mail : katie.turner@icrinc.com
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