HYTN Cannabis Beverage Get in now - you're going to be sorry when the press release comes out.
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HYTN is a Cannabis Beverage Growth Story in the Making
Earlier this month, we highlighted HYTN Brands as a leading play on the Canadian cannabis beverage market. Unlike Canopy Growth and HEXO, HYTN has been able to execute on previously announced initiatives and is actually selling cannabis beverages in Canada.
During the last year, we have seen a massive increase in the amount of consumer demand for spiked sparkling water and companies like Sam Adams Beer Corporation have reported strong growth because of the vertical. HYTN is focused on a similar opportunity and has already launched a line cannabis-infused sparkling water beverage.
Through a strategic partnership with Zenabis Global Inc. (TSX: ZENA), HYTN has been able to significantly advance its fundamental story and we are bullish on the amount of value that can be generated through the relationship. The goal of the partnership is to launch cannabis-infused sparkling water beverages under the HYTN brand, and this is an opportunity that we expect to be a substantial value driver for both businesses.
According to the agreement, Zenabis will supply the requisite cannabis extracts and provide coast to coast distribution for the operation. The combination of HYTN’s beverage manufacturing expertise with Zenabis’ high-quality cannabis extracts allows for the companies to provide consumers with high-quality cannabis-infused beverages. The first shipment of the initial four flavors of the cannabis-infused sparkling water beverages is expected in the second quarter and we will monitor how the companies are able to execute on this. We are bullish on the amount of value that can be created between the businesses and believe that HYTN is in the early innings of a major growth cycle
Another aspect of the HYTN story that we are excited about is related to the immersive line of products that it has. The immersive side of the business is the company’s phase 2 product and we are favorable on the growth prospects associated with it. Consumers will be able to mix the product which has an infinite shelf life into any non-alcoholic beverage. We find the infinite shelf life factor to be an important aspect of the story and are bullish on how this differentiates the product.
HYTN has visible growth prospects and has been highly focused on penetrating the Canadian cannabis market. When compared to operators like Canopy Growth or HEXO, we believe that HYTN represents a unique opportunity that is positioned to have a first mover advantage on a major market.