Breakthru Beverage Group, which is co led by the NHL’s Chicago BlackHawks Chairman Rocky Wirtz, has said it would be investing $9.2 million into CannTrust, a Canadian marijuana producer.
The company has signed a letter of intent to become the exclusive distributor for CannTrust.
In a memo to Breakthru employees on Monday, Wirtz said his family supported the investment and stated, “To us, this venture is a strategic business decision, not reflective of any personal feelings but instead, focused around an opportunity to be at the forefront of shaping a socially-responsible model for this emerging market.”
Wirtz has said that the company will establish a new sales brokerage firm and work with the provincial control boards in Canada to distribute CannTrust’s products, as is it does with alcohol. He also pointed out that Breakthru’s interest in recreational marijuana is only limited to Canada. Canada is just weeks away from recreational marijuana becoming legal on October 17th.
“We have a nano-technology that enables us to produce cannabis-infused beverages neutral in taste, and clear as water. This technology will position us to be a leader in Canada, and in future markets globally,” CannTrust President Brad Rogers stated.