The company, which is based in British Columbia, specializes in medicinal cannabis products.
Like most cannabis stocks, the Canadian pot producer's shares have lost about half their value since Canada legalized recreational weed use by adults in October.
Stringent packaging seeks to see ingestibles sold in plain, child-resistant packaging that would be required to bear a standardized cannabis symbol, health warning message, and CBD and THC content, along with ingredient lists, nutrition fact tables, and allergens. "Anheuser-Busch InBev produces and distributes numerous world's most iconic beverages and they seemed like an ideal partner for us".
In August, wine, liquor and beer company Constellation Brands announced a $4 billion investment in Canadian pot producer Canopy Growth Corp.
Belgium-based AB InBev has been looking for ways to juice up its sales as consumers increasingly turn to craft beers and microbrews.
The value of venture capital deals in the USA marijuana industry more than doubled this year compared to 2017, according to data from Pitchbook, and private equity investments in cannabis increased by more than one-third.
Earlier this month, Congress passed the 2018 Farm Bill, which allows for the cultivation and more widespread commercialization of industrial hemp - a variety of the Cannabis sativa plant that, according to the bill, contains less than 0.3 percent THC.
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Both companies believe that the legal market for THC and CBD beverages will only thrive if the industry embraces appropriate regulation of adult-use cannabis.
The companies will study non-alcoholic drinks containing cannabidiol, or CBD, which some claim has calming and healing affects, and THC, the cannabis compound known for its psychoactive effects.
The companies used the word "responsible" eight times in their press release and said that they'd decide whether to commercialize any resulting beverages sometime in the future.
The partners intend on investing up to R1.4 billion into the project.
Labatt Breweries of Canada president Kyle Norrington said Labatt was committed to staying ahead of emerging consumer trends. As public support for legalization grows, and growing public support for legalization-shifts that have given investors more confidence about backing companies in the space and enticed big players in the beverage and tobacco industries to make bets on cannabis products.
"Tilray and AB InBev share a commitment to responsible product development and marketing, and we look forward to beginning our work on this important partnership as Tilray continues to pioneer the development of a professional, transparent and well-regulated cannabis industry", Kennedy said.