Dixie Brands finalizes entry into the rapidly growing Oklahoma market
- Oklahoma is one of the country's fastest growing legal cannabis markets with 1,700 approved dispensary licenses serving over 200,000 registered patients as of October 1, 2019 (source: The Oklahoman)
- Second new U.S. state Dixie has entered in 2019, expanding its footprint to six states
- Licensed partner will manufacture and distribute legally approved products from Dixie's portfolio of more than 100 cannabis-infused products spanning 15 categories
- The agreement is expected to be generating revenue via products on shelf as soon as January 2020
DENVER, CO, Nov. 19, 2019 /CNW/ - Dixie Brands Inc. ("Dixie" or "the Company") (CSE: DIXI.U), (OTCQX: DXBRF), (Frankfurt: 0QV), one of the cannabis industry's leading consumer packaged goods ("CPG") companies, today confirmed that it is entering the Oklahoma medical marijuana market through a manufacturing and licensing agreement expected to see product in market in January 2020.
Pursuant to the agreement, Dixie will work in conjunction with its licensed manufacturing partner, who has requested to remain confidential at this time, to use Dixie's intellectual property and proprietary formulations, proven 'GMP' (good manufacturing practices), quality control procedures and associated trademarks in the state of Oklahoma. Initial products will include Dixie's award-winning gummies, mints, topicals and the flagship elixirs.
The decision to enter the Oklahoma market with an established manufacturer as opposed to Globus Holdings, Dixie's original licensee, was a difficult one due to the positive working relationship developed between the two companies. Ultimately however, the decision was made based on a combination of a broader distribution opportunity and an ability to bring products to market more quickly.
"We are excited to enter into this agreement with such a well-established partner to introduce Dixie products to Oklahoma " said Chuck Smith, President and CEO, Dixie Brands. "The state has embraced legal cannabis over the past year, and we have high expectations for our comprehensive portfolio of award-winning products within such an established distribution network offering real speed to market".
Oklahoma legalized medical cannabis in October 2018 and has proceeded to quickly and efficiently license medical marijuana patients and industry participants. According to the Oklahoman, the state has approved more than 200,000 patients, and according to the Oklahoma Medical Marijuana Authority, nearly 1,700 dispensaries.
Following the Oklahoma launch, Dixie will operate in six U.S. states, compared to four states at the end of 2018.
ABOUT DIXIE BRANDS, INC
Dixie Brands Inc. is leading the CPG cannabis industry by championing freedom of choice for consumers around the world. Through its licensed partners, Dixie has been perfecting the art and science of creating award-winning THC and CBD-infused products for nearly a decade. A true multi-state operator currently in California, Colorado, Maryland, Michigan and Nevada, Dixie is set to expand internationally, including Canada and Latin America. Dixie's relentless commitment to product innovation from fun to functional has earned the brand a place as one of the industry's most recognized consumer brands. Dixie's portfolio features over 100 products across more than 15 different product categories representing the industry's finest edibles, beverages, tinctures, topicals and connoisseur grade extractions, as well as world-class CBD-infused wellness products and pet supplements. To find out more about Dixie's innovative products, visit www.dixiebrands.com.
SOURCE Dixie Brands, Inc.
Media Inquiries, Desiree Rosa, MULTIPLY, [email protected] / 646-499-3306; Investor Inquiries, Andrew Floor, Dixie Brands Inc, [email protected] / 707-294-8392
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