Is every little thing going to be alright for fans of cannabis-infused drinks? New Age Beverages, which sells CBD-based teas and sparkling waters, announced a deal Wednesday to begin making (Bob) Marley-branded cannabis beverages.
We’re taking this iconic Bob Marley ‘don’t you worry feeling’ and bottling it. Cannabis-infused beverages and Bob Marley are a match made in heaven,” said Brent Willis, CEO of New Age Beverages (NBEV).
The company already sells Marley-branded organic cold brew coffees and yerba mate drinks. So getting into CBD, the nonpsychoactive component found in cannabis, was a natural extension.
Willis told CNN Business he had been working with Docklight, a firm owned by Peter Thiel-backed Privateer Holdings that has the license for Marley-branded cannabis products, on a deal for several months. The two companies will share the profits from the new Marley CBD drinks.
The drinks will be available first in Colorado, Oregon, Washington, and Michigan — where recreational cannabis is legal. And Willis has high (sorry) hopes for them.
That may be true. But investors weren’t jamming to the Marley news. Shares fell 6% Wednesday — although they are still up nearly 30% this year on hype about legal cannabis.
