Dixie Brands utilizes extensive production and commercial expertise to fast track the launch of its industry-leading portfolio into the Oklahoma market in January 2020.
DENVER, Jan. 15, 2020 /CNW/ - Today, 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, confirmed that, in conjunction with its manufacturer, it will launch Dixie's initial branded product offering into the Oklahoma medical cannabis market by the end of January 2020, meeting its expectation announced in the previous press release related to the Oklahoma expansion. The initial offering will be followed by a full portfolio launch, including Dixie's pioneering CBD brand AcesoHemp, in February 2020.
Dixie, a pioneer in the development of infused-cannabis products since 2010, has built one of the industry's most comprehensive portfolios via a deep R&D and production heritage built over nearly a decade. With over 100 products across more than 15 different product categories, the portfolio represents one of the industry's most extensive 'House of Brands' encompassing both regulated THC and ratio brands in Dixie and Synergy and hemp-derived CBD offerings, including AcesoHemp and Therabis.
Oklahoma is one of the country's fastest growing legal cannabis markets with over 200,000 registered patients driving more than $250 million in regulated retail sales as of October 2019 (source: KUTL, December 4th, 2019). With more than 5% of the state's population now registered as medical cannabis patients, exceeding any other program in the nation, the category was expected to eclipse $350 million by the end of 2019 (Source: Marijuana Business Daily, November 19, 2019). The passing of SQ788 (the bill legalizing cannabis for medical use) provides the opportunity for licensed dispensaries to offer patients both THC and hemp-derived CBD products.
"We are excited to be bringing Dixie's unparalleled portfolio of THC & CBD-infused brands to 200,000 medical patients in the dynamic Oklahoma market" said Chuck Smith, President and CEO, Dixie Brands. "The fact that we are able to bring product to market within 60 days of announcing our licensed manufacturing partner is a testament to the agility and expertise the Dixie Brands team has developed over a decade in business".
The growth of Oklahoma's medical cannabis market to date has been far greater than any other medical market launch. 2019 saw medical patient counts increase eightfold and over 2,000 dispensary licences issued (Source: Marijuana Business Daily, November 19, 2019), providing an exciting early mover opportunity for Dixie's well-established portfolio of brands in this rapidly growing market.
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.
For further information: Media Inquiries, Desiree Rosa, MULTIPLY, [email protected] / 646-499-3306; Investor Inquiries, Andrew Floor, Dixie Brands Inc, [email protected] / 707-294-8392