Friends, at the risk of sounding like I’m constantly repeating myself (link, link, link, etc.), news came earlier this week of another move by both a large, multinational beverage company and a Canadian cannabis company to wade further into cannabis waters. Specifically, multinational beverage company, Constellation Brands, and Canadian licensed producer, Canopy Growth (in which Constellation has a large investment), are going to collaborate with Karma Water to produce and distribute a hemp-based CBD-infused water in the US. (link) (No, the FDA still hasn’t changed its position (link) on the use of hemp-based CBD in foods and beverages.) Look also at the deal announced this morning up in Canada – per a press release, Sundial Growers, a Canadian licensed producer, is buying Alcanna, one of the largest alcohol retailers in Canada. (link)
Separately, Law360 is reporting (link, although may be behind a paywall) that the South Carolina Attorney General’s Office has issued an opinion (available here) that the 2018 Farm Bill most likely didn’t legalize delta-8 THC, a topic on which I recently mused. (link) The opinion, in my, well, opinion, does a fair job of acknowledging that the 2018 Farm Bill language has some gaps, while drawing a conclusion that a federal court would nonetheless likely find that Congress did not intend to legalize the isomer – an outline of the very dispute to which I referred in that recent Musings.
Reader, to be honest, I’m not sure why I’m writing about these stories together. Maybe the point is simply that these are just two of the latest examples of how large consumer goods companies and consumer-focused regulations are slowly shaping the future of the broader cannabis industry.