Shares of the company, Aurora Cannabis Inc., closed up almost 17 percent on the Toronto Stock Exchange after the report.
This is widely being interpreted as yet another indication that cannabis-related products are being seen as more legitimate in mainstream culture.
According to Bloomberg, the beverage giant is in the market for some wellness guru approved CBD, the marijuana extract that treats pain and anxiety, but doesn't actually get you high. It is believed by many to have anti-inflammation and pain-relieving properties, and numerous CBD-infused products have emerged recently.
Brett Kavanaugh: Donald Trump doubts sex assault allegations against Supreme Court nominee
Patty Murray saying Thursday that Republicans should be "ashamed" for pushing forward without a fair investigation. Republicans hope to have Kavanaugh confirmed by October 1, the start of the next Supreme Court term.
Aurora Cannabis Inc. today is responding to a request from the Investment Industry Regulatory Organization of Canada ("IIROC") regarding media reports with respect to potential partnerships with multiple beverage companies. "No decisions have been made at this time".
Canada is set to legalize cannabis on 17 October after both houses of Parliament voted to make the drug available for recreational use.
Marijuana will become legal across all of Canada on October 17, and cannabis companies have flocked to that country recently to raise money and start businesses there, according to the Associated Press.
Coca Cola's statement shows the company has learned from its past missteps picking up on new drink trends, said Ali Dibadj, a senior analyst at AllianceBernstein with an expertise in US beverage and snack food companies. She said she would not be surprised to hear of a similar deal by PepsiCo for its Gatorade drink. "It's going to be more of the "recovery drink" category", the source added.
"I think you have to be very, very careful with this as a large brand".