Feb 5 – 2019: Dixie Brands Inc. is entering into a joint venture with Choice Labs based in Jackson, MI. This partnership will allow Dixie Brands Inc. to sell their unique brands of tinctures, mints, pressed pills, gummies, topicals and Elixir beverages in what is currently the second largest state cannabis market in the United States. There are currently more than 300,000 medical marijuana patients in Michigan and, if all goes as planned, Choice will be able to offer Dixie products to Michiganians by the end of March.
Dixie Brands Inc. is not a company that is new to the cannabis space. They entered the industry all the way back in 2009, and despite already being an extraordinarily successful organization, they are right now working feverishly towards creating new and potentially profitable expansion opportunities.
Dixie’s main business revolves around the creation of THC-infused products such as sodas and gummies, and they currently hold a market cap of $126 million.
An example of their expansion work comes from an announcement they made last week regarding their movement into the Latin American market. Dixie announced last Wednesday that they had signed a letter of intent to create a joint venture with Khiron Life Sciences Corp. Khiron is based out of Latin America and has market access to 75% of Latin American 620 million person population. Through this joint venture, Dixie will be able to bring more than 100 of its products into a market that is ripe for cannabis. Mexico is close to legalizing cannabis for medicinal use and places like Argentina and Chile already allow the medical use of cannabis.