A report on BNN Bloomberg Television said Coca-Cola was in talks with Aurora Cannabis to develop a CBD-infused drink. The news sent shares in the Canadian cannabis producer up by as much as 23%, to $8, in early Monday trading.
Coca-Cola, described in the report as the world's largest beverage producer, was continuing negotiations with Aurora Cannabis. A source familiar with the discussions said the two companies were nearing an agreement.
Another source told BNN Bloomberg that Coca-Cola had also held preliminary discussions with Canadian cannabis producer Aphria, although those talks had not progressed.
The companies decline to discuss a potential deal
Coca-Cola spokesman Kent Landers declined to comment specifically on Aurora Cannabis. In an email to BNN Bloomberg, however, he said the company was closely following the growing use of non-intoxicating CBD in functional wellness drinks around the world, as were many other beverage businesses.
Aurora Cannabis spokeswoman Heather MacGregor also declined to discuss a possible Coca-Cola agreement. She did confirm that the company was interested in opportunities in the CBD drinks market.
MacGregor explained that the company did not normally announce business development initiatives before they were finalized, while acknowledging its responsibility to shareholders to consider relevant opportunities.
