Increasing cannabis taxes in California will have a negative impact: Marijuana businessman
Emeritus of Harborside co-founder and chairman Steve DeAngelo discusses how the increase in marijuana taxes in California will cause some consumers to resort to the black market for cheaper weed.
Pabst Blue Ribbon has jumped on two big trends – cannabis and seltzer.
Continue Reading Below
The 176-year-old American lager beer company announced its newest non-alcoholic beverage, Cannabis-Infused Seltzer.
CORONAVIRUS SENDS POT SALES SOARING AS MORE AMERICANS STAY HOME
“Introducing a different kind of buzz – Pabst Blue Ribbon Cannabis Infused Seltzer with a twist of lemon,” Pabst Blue Ribbon wrote in an Instagram post on Wednesday. “Brought to you by our friends @PabstLabs.”
Pabst Blue Ribbon and Pabst Labs did not immediately respond to FOX Business’ request for comment.
The canned 12-ounce beverage reportedly contains 5 milligrams of THC, which the company considers “a responsible dosage,” according to a report from Food & Wine.
PEPSICO'S NEW DRIFTWELL AIMED AT AIDING RELAXATION AND SLEEP
THC, also known as tetrahydrocannabinol, is the main active ingredient that is responsible for the psychedelic effects of cannabis – the plant where marijuana is derived.
Only 11 states and the District of Columbia have made recreational marijuana use legal for adults over the age of 21 whereas 33 states, Washington, D.C. and four U.S. territories have made medical marijuana legal.
HOW MUCH IS THE BOTTLED WATER INDUSTRY WORTH?
“Until the legal landscape changes, we can’t produce this in-house, but the formation of Pabst Labs, a licensed cannabis operator, involving former Pabst Blue Ribbon employees and cannabis beverage experts, gave us a unique chance to grant the use of our brand to a cannabis savvy group that we could trust to develop an infused drink worthy of the Blue Ribbon,” Seamus Gallagher, a senior brand manager at Pabst Blue Ribbon told Food & Wine.
Cannabis Infused Seltzer is available for purchase in California marijuana dispensaries and can only be shipped to addresses where recreational marijuana is legal when ordered online.
CLICK HERE TO READ MORE ON FOX BUSINESS
A 4-pack costs $24 while a 24-pack costs $120.
The cannabis that is used in the beverage has been grown in California, according to an Instagram post shared by Pabst Labs.
And as a seltzer, the new drink is friendly with most diets thanks to its 25 calories and 4 grams of sugar.
READ MORE ON FOX BUSINESS BY CLICKING HERE
The 2020 seltzer market is estimated to be around $27.59 billion in value, according to market research firm Grand View Research. The firm also forecasts that the market has a compound annual growth rate of 11.8% all through to 2027, and will yield $59.67 billion in revenue by that time.
Source: Read Full Article