In a press release today, Molson Coors Brewing (NYSE:TAP) announced it has completed a deal which will see it launching Truss CBD USA, a joint venture in Colorado making non-alcoholic CBD beverages. Its partner for the planned enterprise is HEXO Corp (NYSE:HEXO), a major licensed consumer cannabis producer from Canada which has been in business since 2013.
Truss CBD USA will operate as a largely independent entity, complete with its own executives, board of directors, and marketing department. CBD or cannabidiol, a non-psychoactive extract of hemp, does not contain THC, and is legal in the state of Colorado where Truss CBD USA will be based. CBD is currently a fad item appearing in products from sparkling sodas and lattes to lotions and brownies.