Dixie Brands Inc. Looks to Go Public in Canada
On September 28, 2018 Dixie Brands, Inc. signed a definitive merger agreement in connection with its proposed public listing on the Canadian Securities Exchange (CSE). Pending approval from the CSE, Dixie Brands Inc. will complete a reverse takeover of a Canadian public company, Academy Explorations Limited. Both Academy Explorations Limited and Dixie have received board and shareholder approval for the RTO. As a result, Dixie will boast the largest global footprint of infused product manufacturing and distribution facilities of any brand in the cannabis space.
Simultaneously with the finalization of the documents in connection with the RTO, Dixie closed its Series C fundraising round of approximately $25 million. The Series C round was originally offered as a non-brokered private placement for $20 million, however, due to positive investor demand, Dixie increased the maximum offering amount to $25 million with board and shareholder approval.
“The Federal legalization of marijuana in Canada is further proof that cannabis is no longer a fringe conversation or product. By going public on the CSE, we’re investing in Dixie’s future for continued growth with a focus on quality, product innovation and scale,” says Dixie CEO Chuck Smith. Dixie is currently operating in four states (Colorado, California, Nevada, and Maryland) and has international distribution and manufacturing partners in Australia and Canada. Dixie plans to expand into four to six additional states in 2019 through partnerships with licensed and regulated producers in each state. Already the owner of the largest award-winning, THC-infused product line in the industry, Dixie has recently expanded its hemp-based offerings by introducing Aceso Wellness, a human dietary supplement line, and Therabis, a pet food supplement portfolio, at the end of 2016.
Dixie started with a single product, the Dixie Elixir, a THC-infused soda, and now offers more than 30 different categories across more than 100 individual products – one of the broadest THC product lines in the industry. The award-winning company is a trailblazer in the rapidly expanding and evolving cannabis landscape. Brands that are distributed under the Dixie Brands umbrella include:
Dixie, our namesake line that includes premium and award-winning THC-infused beverages, confections, concentrates, tinctures, and topicals
Synergy, a variety of THC-infused products which also harnesses the benefits of CBD, the cannabinoid most often hailed for its antianxiety and anti-inflammatory benefits
Mindset, an array of connoisseur-grade combustible cannabis products including concentrates, pre-rolls, and flower
Dr. Stash, a price-centered brand that focuses on scalable products that have the ability to quickly be brought to market
In 2016, Dixie launched two new standalone brands to harness the benefits of CBD, a non-psychoactive compound found in hemp that is commonly hailed for its anti-anxiety and anti-inflammatory benefits: Therabis and Aceso Wellness. Both the Aceso and Therabis brands have been sold through traditional retail and online since their inception.
Aceso, a suite of “hemp 2.0” products designed to provide general wellness and relief from minor aches and pains as well as combat mild-anxiety
Therabis, an all-natural hemp-based pet supplement formulated in conjunction with an experienced veterinarian and designed to provide pets with relief from itching and mild-anxiety as well as providing greater joint mobility