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Hill Street Beverage Company (TSXV:BEER) to expand its cannabis offerings
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  • The Hill Street Beverage Company (BEER) has outlined its path to growth in the cannabis sector
  • The company will leverage its rights to Lexaria Bioscience's non-pharmaceutical cannabis patents to create new products
  • Lexaria's DehydraTECH technology enhances the performance of fat-soluble drugs and active ingredients
  • The company's subsidiary, Hill Avenue Cannabis Company, will bring a variety of edibles and extracts to market
  • Hill Street is focused on cannabis products and alcohol-free beer, wine and adult-format beverages
  • Hill Street Beverage Company (BEER) is down 5 per cent and is currently trading at C$0.095 per share

The Hill Street Beverage Company (BEER) has outlined its path to growth in the cannabis sector.

The company will leverage its rights to use Lexaria Bioscience's non-pharmaceutical cannabis patents and intellectual property to create a new business space focused on blending bioscience with quality craft.

The company's wholly-owned subsidiary, Hill Avenue Cannabis Company, will bring these products to market. 

The subsidiary will be divided into two units, Hill Avenue Cannabis Brands and Hill Avenue Cannabis Technologies.

Hill Avenue Cannabis Brands will specialize in B2C edibles products for a growing global market.

Hill Avenue Cannabis Technologies will provide DehydraTECH-enabled B2B solutions for both extractors and consumer packaged goods manufacturers. 

Lexaria's DehydraTECH is a drug delivery technology that has been proven to enhance the performance of fat-soluble drugs and active ingredients.

Lori Senecal, Hill Street's co-interim CEO, commented,

"This new direction will position the company to satisfy accelerating global demand for superior commercial ingredients and consumer products. Lexaria's patented DehydraTECH technology is an incredible engine for growth that allows us to continue to build trusted brands and create a new, robust portfolio of revenue generating businesses."

Craig Binkley, Hill Street's co-interim CEO, added,

"These two new units will offer a wide range of expertise covering everything from oil conversion services to help extractors extend shelf life by turning oil into shelf stable powder, to the production and sale of DehydraTECH powder to consumer packaged goods manufacturers for infusion into their products.

We anticipate that our Lucknow R&D Labs in Mississauga, Ontario will play a future role in cannabinoid product R&D, giving us multiple ways to add significant value in the cannabis sector."

Hill Street believes this new strategy will result in higher-margin intellectual property and scaled B2B exposure beyond Canada to a global market.

Hill Street is focused on cannabis products and alcohol-free beer, wine and adult-format beverages. 

Hill Street Beverage Company (BEER) is down 5 per cent and is currently trading at C$0.095 per share as of 2:16 pm ET.

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