Dixie Brands Inc. — a THC and CBD-infusion company based out of Denver, Colorado — commenced trading common shares on the Canadian Securities Exchange (CSE) under the ticker symbol DIXI.U.
Earlier in the month, Dixie formally expanded into Canada by completing a reverse takeover of Academy Explorations Limited and receiving conditional approval for future trading on the CSE.
Dixie Brands has just under 125 million shares outstanding, with 25.7 million currently available to the public.
Originally starting with a THC-infused soda, Dixie now offers 100 different edible or topical cannabis products across the company lineup.
The company’s product lines include elixirs, chocolates, gummies, topicals, tarts, mints and a line called SYNERGY, which includes mints, balms, and tablets and focuses on maximizing the effect of a low dose of combined THC and CBD for the consumer. Products are hand-crafted and the company’s focus is on consistency, quality and accuracy in providing the desired product to each consumer.
The company also offers a hemp-based line that can be shipped to anywhere in the U.S., compared to various products that are primarily available in Colorado.
In addition to the CSE listing, the company announced plans to expand its portfolio further by moving into the health and wellness sector of the cannabis industry, which has become an increasing focus since marijuana was legalized recreationally across Canada in October.
With operations primarily in Maryland, California, Nevada, and Colorado, their business plan for 2019 includes strategies to increase the company’s market reach into other states where marijuana is legalized for either medical consumption or recreational use.
They are also in the process of moving into Australian and Canadian operations via new manufacturing and distribution deals, in addition to the reverse takeover of Academy Explorations.
Chief Executive Officer Chuck Smith issued a press release to investors with these comments on the developments:
“The public listing of our shares is an important milestone for Dixie Brands, providing us more ready access to capital to fund our ambitious growth strategy and achieve our goal of becoming the leading CPG company in the industry.”
Smith added, “We are pleased to offer liquidity to our existing shareholders whose support has been vital to our success to date, and we welcome new investors to take a closer look at the significant opportunities available to Dixie as the cannabis industry’s most recognized brand.”
In related news, Dixie Brands raised $25 million at the beginning of October via a private placement, which the company states will fund operations through 2020.
Dixie has also teamed up with Vincinc Advisors — a company that notably was not on the list of consultants recently blacklisted by the BCSC in an ongoing cannabis stock abuse scheme investigation — to handle communications and outreach with investors.