Greenhouse Juice Co. is breaking onto the cannabis scene with its drinkables idea.
The company announced on Jan. 14 it would be creating a line of cannabis-infused drinks. With the help of Canopy Rivers Inc., Greenhouse Juice will have $9 million to invest into exploring cannabis benefits in beverages.
“We look forward to being at the forefront of this new era in plant-based wellness,” said Greenhouse co-founder Emma Knight in a phone interview.
The announcement came shortly after the company’s five-year anniversary.
In 2014, the husband and wife team, along with Hana James, set up the first-of-its-kind cold-pressed juice company in a tiny bungalow in the Summerhill neighbourhood.
Greenhouse now has 15 retail locations across the GTA, and are working on expanding outside of Ontario.
After exploring the benefits of cannabidiol (CBD), a non-intoxicating chemical compound found in marijuana, Greenhouse started looking for a company to partner with that shared their vision. That’s when they approached Canopy Rivers, a Toronto-based investment company pursuing opportunities in the cannabis sector.
“We’re basically looking for best in class companies and then making that investment, and sort of bringing them into the cannabis fold,” Canopy Rivers senior director Karoline Hunter said in a phone interview.
Our latest investment is chock full of #healthandwellness and #cbd! Check it out here: https://t.co/9FiOHTlOoL and welcome @GHJuiceCo to the @CanopyRiversInc portfolio $RIV pic.twitter.com/nEsbeu1TeN
— RIV Capital | Cannabis Investments & Acquisitions (@RIVcapital) January 14, 2019
Following Canada’s legalization of cannabis in October 2018, the founders of Greenhouse Juice Co. decided to follow consumer interest in the health benefits of CBD to create a new line of drinks.
“Exploring the wellness potential of non-psychoactive compounds from the plant, such as CBD, is a natural fit for our company,” Knight said.
According to Health Canada, CBD is being studied for use in therapeutic properties. Unlike THC, CBD does not cause intoxication.
A study by the American-based medical journal Neurotherapeutics found evidence of CBD being a beneficial treatment for people who suffer from anxiety disorders.
The authors also found CBD demonstrates reduction of inflammation and convulsions, as well as relieving nausea, arthritis and pain.
Greenhouse hopes to have a new line of CBD-infused drinks available following the legalization of edibles, expected in October, 2019.