[1 August/CNBC]

According to Molson Coors, its Canadian unit is entering into a deal that will develop cannabis infused beverages in Canada. The company will team with The Hydropothecary Corporation to create a joint partnership. Marijuana use will become legal in Canada later this year. CEO of Molson Coors Canada, Frederic Landtmeters, said Canada was breaking new ground in the cannabis sector and it had an opportunity to participate in the expanding consumer segment. Molson Coors Canada would have a 57.5 percent interest in the venture. Molson Coors reported second quarter sales fell to USD3.085 billion from USD3.091 billion a year earlier.