The maker of Budweiser is teaming up with Tilray to explore marijuana-infused beverages

Budweiser on FacebookBudweiser is going after millennial beer drinkers.
  • Tilray shares jumped as much as 18% late Wednesday after the cannabis producer announced a partnership with AB InBev to research non-alcohol beverages containing THC and CBD.
  • The partnership between the two companies would be limited to Canada, according to a statement from Tilray.
  • Follow Tilray’s stock price here.

The cannabis producer Tilray jumped 18% late Wednesday after the company announced a partnership with AB InBev, the maker of brands like Budweiser and Bud Light, to research non-alcoholic beverages containing THC and CBD.

The partnership between the two companies would be limited to Canada, according to a statement from Tilray, with each company intending to invest up to $US50 million, for a total of up to $US100 million.

The announcement came one day after Tilray said it was partnering with Sandoz AG, a division of Swiss drug giant Novartis AG, to increase the availability of its medical-cannabis products around the world.

Tilray shares were up 252% since the start of 2018.

This story is developing…

Tilray shares.Markets InsiderTilray shares.

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