BevCanna Enterprises Inc. announced that it has entered into a definitive joint venture agreement with Mota Ventures Corp., to exclusively distribute BevCanna's hemp-derived cannabidiol (CBD) products in the European market. The Joint Venture will initially launch BevCanna's "LEV" line of fruit-forward lightly sparkling CBD-infused spring water beverages and water-soluble powders. The beverages will also utilize BevCanna's proprietary method of nano-delivery of cannabinoids, a unique technology that produces a rapid onset time for the cannabinoids.

The JV will launch additional products over the life of the five-year agreement. Under the agreement, BevCanna and Mota have agreed to share equal ownership in the Joint Venture and be jointly responsible for developing and funding its operations. In addition to capital, BevCanna has agreed to contribute proprietary brands, product formulations, formulas for nano-encapsulated water-soluble powders, and marketing and manufacturing expertise to the Joint Venture.

Mota has agreed to provide manufacturing, marketing and distribution infrastructure in the European market.