Canadian cannabis producer and distributer Entourage Health Corp (OTCMKTS:WDDMF) has had a good time in the stock markets and the situation continued on Tuesday as the stock jumped by another 4%.
The latest rally took its gains over the course of the past week to as much as 16%. Additionally the company did make a major announcement yesterday with to its subsidiary company WeedMD RX Inc. It was announced that WeedMD signed agreements with Peak Processing Solutions and The Boston Beer Company by way of which it is going to manufacture a non-alcoholic cannabis based beverage. The beverage is expected to be launched in Canada at some point in the fourth quarter of this year.
The agreements that have been signed are going to be in place for a period of five years. The Boston Bear Company and Peak Processing Solutions are going to be responsible for the developments of the beverages.
On the other hand, Entourage is going to be responsible for the supply of CBD rich biomass inputs that are going to be necessary for the beverages. While the market did not quite react positively yesterday, it is going to be interesting to see if the Entourage stock can rebound.