Molson Coors wants to sell THC beer in Canada

Molson-Coors is taking a close look at the possibility of bringing a cannabis-infused beer to the Canadian market. The company hopes to make up for declining beer sales by targeting the cannabis enthusiast market.

A source close to the case said to Bloomberg that the brewer is looking for «a quality product that won't embarrass them» and enough cannabis to develop a large-scale beverage.

Molson would like to develop a fast-acting cannabis drink that can mimic the effect of a beer or two in 15 to 20 minutes.

Molson-Coors CEO Mark Hunter also said the company was exploring the risks and opportunities of entering the cannabis business in Canada, according to Fortune.

Molson isn't the first alcohol company to take a close interest in the cannabis business. Last year, Constellation Brands, U.S. distributor of Corona, invested in Canopy Growth, Canada's largest cannabis producer.

Earlier this year, the University of Ontario has awarded a grant of 300000$ to develop a THC beer.

Alcohol brands are taking a keen interest in the cannabis business as sales plummet in states where it is legal. Developing weed-based beverages could help offset this decline, while attracting new customers.

«It's a disruptive industry and an opportunity for a lot of different companies,» explains Mike Gorenstein, CEO of Canadian cannabis producer Cronos, without revealing whether his company is currently in discussions with Molson.

Molson covered 33% of the Canadian beer market in 2017, compared with 40.5% in 2008.