Products on shelves within eight weeks of announcing joint venture Initial products to include gummies, flavored Elixirs, pressed pills, mints, tinctures and topical balms Michigan set to become one of the largest cannabis markets in the United States with revenues expected to exceed $750 million by 2020 (source: New Frontier Data) First of four-to-six new U.S. states Dixie plans to enter in 2019
DENVER, March 15, 2019 /CNW/ – Dixie Brands Inc. (“Dixie” or “the Company”) (CSE:DIXI), (OTC:DXBRF), (Frankfurt: 0QV), one of the cannabis industry’s leading consumer packaged goods companies, today announced that it has executed a definitive agreement with Michigan’s Choice Labs (“Choice”) relating to the joint venture licensing agreement of the two companies first announced on February 6, 2019. The companies expect to have a selection of THC-infused products available for sale in Michigan provisioning centers later this month.
“We are completing our initial production runs and will have products on shelves by March 31st, which is within eight weeks of signing our letter of intent with Choice,” said Chuck Smith, President and CEO, Dixie Brands. “This time-to-market is achievable thanks to our proven operating procedures and product formulations, as well as our past experience expanding into new states, and of course, an excellent local partner. We will begin generating sales this month and expect Michigan to be one of our top revenue producing states.”
Dixie initially intends to offer Michigan’s 300,000 medical marijuana patients its THC-infused gummies, flavored Elixirs, pressed pills, mints and tinctures, as well as its THC- and CBD-infused topical balms. The Company will expand its product offering in the state over time to include its flagship Dixie Elixirs beverages and other SKUs drawn from its portfolio of more than 100 products across 15 categories. More information about Dixie’s products is available at www.dixieelixirs.com.