LGC Capital Ltd. announced that it has formally launched its new joint venture company with Creso Pharma Limited and Baltic Beer Company Ltd. to capitalize on the fast-growing cannabis and hemp-derived beverage markets. The joint venture company - CLV Frontier Brands Pty Ltd. (CLV) - will develop and globally commercialize a premium portfolio of cannabis and hemp-derived alcoholic and non-alcoholic beverages containing various ingredients, seeds, extracts and terpenes from hemp and cannabis plants. The launch of CLV follows the announcement in November 2017 of a binding letter of intent among the three parties and the formation of the joint venture company.

CLV is currently developing an initial premium four-beer range containing unique cannabis terpene mixes as well as other innovative ingredients. CLV also intends to create a vegan line of beverages for consumers who demand this option. These unique terpenes will carry the flavour and aroma of cannabis and will provide a sensual cannabis experience, but will not contain THC or CBD or any other cannabinoids.

Each of LGC, Creso Pharma and Baltic Beer will have a one-third interest in CLV. LGC's involvement in the joint venture is subject to the approval of the TSX Venture Exchange.