Second Cup hopes to sell CBD beverages in its cafés

A Hemisphere Cannabis Co. storefront. (Hemisphere Cannabis, via Instagram)

Second Cup Coffee’s parent company is planning to open up to 30 cannabis shops across Canada by 2022, saying it also hopes to sell CBD beverages in its cafés.

Steven Pelton, CEO of Aegis Brands — the parent company of Second Cup and Bridgehead Coffee — said that the firm’s new Hemisphere Cannabis Co. is uniquely poised for growth.

“The ability to leverage our premium real estate across Canada – and to convert Second Cup locations to Hemisphere locations only as licenses are approved – is truly unparalleled,” Pelton said in a news release that marked the opening of its second Toronto cannabis store.

The company is looking for a cannabis partner to co-produce a branded line of cannabis products for its Hemisphere stores. The company is also actively exploring the production of THC and CBD beverages, subject to cannabis marketing regulations.

“Our goal, pending future deregulation of CBD, is to make Second Cup the first national coffee chain to sell CBD beverages in our cafés,” Pelton said.

Aegis Brands share price was unchanged Friday, remaining at $0.86. Shares for the $19.7-million company by market cap have a 52-week low of $0.70 and a 52-week high of $1.76