Blueberries Medical has entered a letter of intent (LoI) for a joint venture (JV) with India Colorada to research, develop and commercialise non-alcoholic cannabis-based beverages.

India Colorada is a Colombian craft brewery, while Blueberries Medical is a licenced producer of medicinal cannabis and cannabis-derived products.

Blueberries Medical COO Camilo Villalba said: “As consumer preferences continue to evolve away from the smoked flower and towards healthier and more convenient products, we plan to be on the leading edge of innovating and commercialising these new product segments.

“We believe that our first-mover advantage, combined expertise, and dedication to the highest standards of product quality, will position Blueberries as a leader in this rapidly emerging market.”

“We plan to be on the leading edge of innovating and commercialising these new product segments.”

The new JV aims to be the first to enter the cannabis-containing beverage market in Latin America.

As part of the new partnership, both companies will apply their expertise in the research and development (R&D) to produce beverages containing tetrahydrocannabinol (THC) or cannabidiol (CBD).

The two companies also intend to develop a new product and commercialisation plan by next year.

Blueberries Medical intends to make use of India Colorada’s established and growing distribution channels to sell the newly developed cannabis-based beverages, as well as leveraging its own networks.

The JV firm will also make decisions regarding commercialisation in different countries where CBD-based beverages are permitted.

Last August, Molson Coors Canada and cannabis producer The Hydropothecary Corporation (Hexo) signed a definitive agreement to form a joint venture (JV) for developing non-alcoholic and cannabis-infused beverages for the Canadian market.