Coca-Cola looking at cannabis health drink

Coca-Cola looking to enter cannabis drink market with a new

The beverage giant's interest is another indication of the growing acceptance of cannabis by established companies.

Shares of Aurora were up almost 17 percent on the Toronto Stock Exchange on the report.

"The space is evolving quickly", Coca-Cola said. "No decisions have been made at this time", stated Ken lander for the BNN Bloomberg.

Aurora has also expressed interest in cannabis drinks. Tilray was up about 7% while Canopy Growth and Cronos Group were both up about 2%.

Coke's possible foray into the marijuana sector comes as beverage makers are trying to add cannabis as a trendy ingredient while their traditional businesses slow.

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Coca-Cola's potential foray into marijuana beverages follows a two investments by Constellation Brands, the conglomerate behind drinks like Corona and Svedka, totaling more than $4 billion, into Canopy Growth, the largest publicly traded marijuana firm.

Coca-Cola has already been diversifying as consumption of soda continues to decline. Presumably the company will be releasing a joint product.

Aurora was up more than 15% in early trading Monday following the report. Cannabidiol or CBD is one of hundreds of molecules found in marijuana plants, and contains less than 0.1 percent of tetrahydrocannabinol (THC), the psychoactive component that makes people high. There are no guarantees of any deal between Aurora and Coca-Cola, according to the report.

Even though the talks between Coca-Cola and Aurora Cannabis are not confirmed, Aurora's stocks soared due to the news breaking, jumping as much as 23 percent on Monday in NY to nearly $10. It has been used to treat epilepsy and other maladies.

Big corporate names have inched into the marijuana industry since Canada approved recreational use, seeing the country as a production base and testing ground until U.S. Federal Law changes. The BI Canada Cannabis Competitive Peers Index has more than doubled in the past 12 months, though has dropped 24 per cent in 2018 on concern that the stocks are overvalued.

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