Cannabis Stock News: Dixie Brands (CSE: DIXI.U) (OTCQX: DXBRF) Again Demonstrates Ability to Rapidly Open New Markets with Succesful Oklahoma Launch
Dixie Brands leverages proven production and commercialization platform to deliver accelerated launch into Oklahoma within 75 days of partnership announcement.
DENVER - February 6, 2020 (Investorideas.com Newswire) 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 it has fulfilled its stated objective of launching, in collaboration with its licensed manufacturer, its award-winning gummies and elixirs into the dynamic Oklahoma legal cannabis market by the end of January. The Company will continue to expand production in the coming weeks, deploying one of the industry's most comprehensive portfolios of cannabis-infused products, to include mints, tarts, topicals and concentrates.
With over 2,000 dispensary licenses issued to service more than 235,000 registered medical patients (source: NCV, January 29, 2020), Oklahoma continues to be one of the most dynamic and fastest growing legal cannabis markets in the country. Stash House Distribution, Dixie's licensed distributor in the state, has already opened nearly 550 active dispensary accounts, providing an exciting, early-mover commercial opportunity for Dixie's industry leading portfolio of brands.
"I am incredibly proud of the Dixie team's efforts in opening the Oklahoma market as quickly, efficiently and effectively as we have" said Chuck Smith, President and CEO, Dixie Brands. "We have built one of the industry's most successful 'house of brands' platforms, proven to drive revenue growth for our existing brands and support a dynamic innovation pipeline, but also to attract iconic 3rd party brands looking for a proven multi-market partner, such as Herbal Enterprises, LLC, an affiliate of the AriZona™ brand."
Dixie Brands' ability to quickly and successfully deploy its branded platform into Michigan in early 2019 provided substantial early mover benefits in a similarly dynamic medical market. The company's turnkey production and launch platform established a market leading position for its branded portfolio, driving 80% dispensary penetration and delivering nearly 30% monthly compounded sales growth over the nine months since launch. The growth of Oklahoma's medical cannabis market, to date, has been far greater than even Michigan (Source: Marijuana Business Daily, November 19, 2019), providing an exciting commercial 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.
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