Coca-Cola denies reports they are looking at making cannabis-based drinks

Cannabis seedlings at the new Aurora Cannabis grow facility are seen in Montreal Friday Nov. 24 2017. THE CANADIAN PRESS  Ryan Remiorz

The potential product tie-up, reported by Canadian financial channel BNN Bloomberg, could help Coke's efforts to overcome sluggish demand for its sugar-heavy sodas by diversifying into coffee and health-focused drinks. If this partnership ends up being true, this would mark the first entry of a major manufacturer of non-alcoholic beverages into the market for cannabis-related products, in an industry where alcoholic beverage companies have been flocking.

"Aurora has expressed specific interest in the infused beverage space, and we intend to enter that market", it said.

Aurora shares spiked as much as 19 per cent in early trading.

Coke said in a statement Monday that it is "closely watching" the growth of CBD, a non-psychoactive component in marijuana, as an ingredient in what it called functional wellness beverages.

Coca-Cola is considering a move into the growing market for cannabis-infused drinks.

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If that timetable slips, it would become increasingly hard for Republicans to schedule a vote before the November 6 elections. The Democratic members of the committee are reportedly not planning on being in attendance to participate.

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Bloomberg says Molson Coors Brewing is starting a joint-venture with Quebec-based Hydropothecary Corp., and Diageo, PLC, maker of Guinness is looking at a possible deal with at least three Canadian cannabis producers.

Aurora was up more than 15% in early trading Monday following the report. There are no guarantees of any deal between Aurora and Coca-Cola, according to the report. It has been used to treat epilepsy and other maladies.

Coke and Aurora would likely develop beverages that will ease inflammation, pain and cramping, the BNN report said https://www.bnnbloomberg.ca/coca-cola-in-talks-with-aurora-to-develop-cannabis-drinks-sources-1.1138528#_gus&_gucid=&_gup=twitter&_gsc=gQCuZEQ, citing sources familiar with the matter.

Aurora is Canada's third-largest pot company, with a market value of $8.7 billion.

Canada is in the process of legalizing recreational use of marijuana. The BI Canada Cannabis Competitive Peers Index has more than doubled in the past 12 months, though has dropped 24 per cent in 2018 on concern that the stocks are overvalued.

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