Molecule Signs Agreement with Hill Street Beverage Company Inc. to Produce Cannabis Infused Beverages

Molecule Holdings Inc. (CSE: MLCL) is a Canadian craft-focused cannabis beverage production company. The company announces that it has signed a term sheet with Hill Street Beverage Company Inc. (TSXV: BEER) to produce select cannabis infused beverages for Hill Avenue Cannabis Co., a wholly owned subsidiary of Hill Street created to manage its business in the legal cannabis segment.

Molecule works with client-partners to engage in the production of cannabis-infused beverages and edibles. They provide the infrastructure, know-how, technology, and licensing for craft producers to create consumable cannabis products. Molecule’s goal is to be the on-ramp for companies wishing to enter into the cannabis beverage and edibles market, but who choose not to go through the significant process of obtaining the required cannabis licences.

The three year long agreement will include both formulating and manufacturing beverage products using proprietary infusion technologies provided either by Molecule or Hill Street’s previously announced Joint Manufacturing Partnership with Lexaria Biosciences (CSE:LXX), once Hill Street’s Cannabis Processing Facility has been licensed by Health Canada under the Cannabis Act.

Terry Donnelly, Chairman & CEO of Hill Street, commented, “We are delighted to expand our manufacturing strategy to include Molecule, given their tremendous knowledge and expertise in beverage formulation, innovation, development, and manufacturing.  Their areas of expertise complement ours and we are very much looking forward to working with them to create a portfolio of world class beverages.”

Philip Waddington, President & CEO of Molecule Inc., stated “Hill Street is a renowned leader in the alcohol-free beverage market. We are pleased and excited to be entering into this partnership with such a reputable company, led by an extremely capable team.”