BNN Bloomberg is reporting that the Coca-Cola Company (NYSE:KO) is in “serious talks” with Canadian Licensed Producer Aurora Cannabis to develop cannabis-infused drinks, according to sources close to the discussions. The iconic beverage brand hopes to partner with Canada’s number two cannabis company in the CBD market, a non-psychoactive cannabinoid commonly found in marijuana and hemp plants.
If true, the talks could represent the most significant deal in the history of the cannabis industry.
“They’re pretty advanced down the path [of doing a deal],” Bloomberg’s source was quoted as saying, adding that the two companies were looking at drinks in the recovery category.
However, following the news, the Coca-Cola Company released a statement of their own, stating that, as of now, they were only exploring their options.
#BREAKING: THE COCA-COLA CO. IN TALKS WITH AURORA CANNABIS: SOURCES
— BNN Bloomberg (@BNNBloomberg) September 17, 2018
“We have no interest in marijuana or cannabis,” read the company’s short and terse sounding statement. “Along with many others in the beverage industry, we are closely watching the growth of non-psychoactive CBD as an ingredient in functional wellness beverages around the world. The space is evolving quickly. No decisions have been made at this time.”
While nothing can be confirmed, it wouldn’t be the first time that Aurora Cannabis was accused of leaking information before a deal was signed (Newstrike Resources anyone?). Moreover, the leak sent shares of Aurora surging in early morning trading, with stock prices jumping 16 percent on Monday, holding at US$7.61 as of Monday afternoon. Meanwhile, Coca-Cola saw prices jump as well.
It’s clear by their statement that the Coca-Cola Company isn’t happy with the rumors that have been swirling around on Monday, but whether or not that scuttle a potential deal remains to be seen.
More on this story as it breaks.