On Wednesday (August 7), Colorado-based Dixie Brands (CSE:DIXI.U,OTCQX:DXBRF) announced plans to partner with drink maker AriZona to create a line of THC-infused beverages.

AriZona’s subsidiary Herbal Enterprises will direct brand and concept design. Dixie will take on the role of developing, formulating and distributing the new AriZona-branded line of THC drinks.

Don Vultaggio, chairman of AriZona, said in a press release that the cannabis market is an “important emerging category” and that his company has “maintained (its) independence as a private business to be positioned to lead and seize generation-defining opportunities exactly like this one.”

The initial partnership will last three years with an option to renew for up to two additional terms of two years each. The deal also gives AriZona the ability to invest up to US$10 million into Dixie in subordinate voting shares at a cost of US$0.59 over two years.

In the press release, Dixie CEO Chuck Smith said that the move will make AriZona one of the most recognized brands to move into the cannabis market.

“This partnership marks a watershed moment for the popularization and expansion of the cannabis sector overall, and is another large step forward for Dixie Brands’ strategy to build a house of famous cannabis CPG brands,” Smith added.

The company has been making strides in beverage technology research to improve its ability to create cannabis-based drinks. Last month, Dixie announced a breakthrough in the solubility and uptake for its upcoming cannabis FUSE drink lineup.

In a previous interview with the Investing News Network (INN), Smith said companies are looking for a way to standardize delivery time for cannabis-based edibles and beverages to build trust with customers.

“In the beverage space, if you drink alcohol you know what happens when you have a couple of glasses of wine … and we want to be able to mimic that experience as close as possible,” Smith told INN.

Dixie has established itself in the cannabis space in the US with a variety of products, which cover everything from THC-infused mints to topical cooling balms. The company also already offers its brand of Elixir beverages in Colorado, California, Nevada and Maryland.

Dixie’s Q1 2019 results point to US$2.2 million in revenue, up 137 percent from US$937,000 in Q1 2018. The Q1 2019 report attributes the growth to a strong sales presence in California and Maryland, stating that the company’s recent moves into new markets, including Michigan, will lead to even more growth in the coming quarters.

Dixie shares rose to C$0.68 on Wednesday’s open after closing at C$0.59 on Tuesday (August 6). The company was sitting at C$0.78 as of 3:10 p.m. EDT on Wednesday.

Don’t forget to follow us @INN_Cannabis for real-time updates!

Securities Disclosure: I, Danielle Edwards, hold no direct investment interest in any company mentioned in this article.

Trulieve to donate $20,000 in scholarship funding and $15,000 to support leadership development

Trulieve Cannabis Corp . (CSE: TRUL) (OTC: TCNNF), a leading and top-performing cannabis company in the United States today announced a new partnership with the Thurgood Marshall College Fund (TMCF), the nation’s largest organization exclusively representing the Black College Community. Trulieve will donate $20,000 to help fund several college scholarships awarded to students who are attending one of the organization’s member-schools as part of Trulieve’s diversity, equity, and inclusion initiatives. The $15,000 in talent funding is earmarked to support TMCF’s internship program, reaching a diverse talent pool of students and alumni from their 47 member-schools to provide immersive experiences at Trulieve.

Keep reading... Show less

The new dispensary expands patient access to Florida’s largest inventory of medical cannabis products

Trulieve Cannabis Corp. (CSE: TRUL) (OTCQX: TCNNF) (“Trulieve” or “the Company”), a leading and top-performing cannabis company based in the United States announced today the opening of a brand-new Florida dispensary, the Company’s 80th nationwide. The new location marks the Company’s first in Tamarac and third in Broward County expanding patient access to Florida’s largest and broadest assortment of high-quality medical cannabis products.

Keep reading... Show less

Revive Therapeutics Ltd. (“Revive” or the “Company”) (CSE: RVV, USA: RVVTF), a specialty life sciences company focused on the research and development of therapeutics for medical needs and rare disorders, is pleased to announce an update on the Company’s U.S. Food & Drug Administration (“FDA”) Phase 3 clinical trial (the “Study”) to evaluate the safety and efficacy of Bucillamine in patients with mild to moderate COVID-19.

With its recent $23 million dollar financing, the Company plans to aggressively expand from 14 clinical sites to up to 50 clinical sites to meet the next enrollment goals for the Study in Q2-2020. The Study is a randomized, double-blinded, placebo-controlled trial and the safety and efficacy data analyzed at each interim analysis timepoint of 210, 400, 600 and 800 completed patients are only made available to the Independent Data and Safety Monitoring Board (“DSMB”) for review and recommendations on continuation, stopping or changes to the conduct of the Study. In the event of any serious safety concerns, the DSMB would be notified to determine any risks and provide its recommendations. To date, in this initial 210 interim point there have been no serious safety concerns that required the DSMB to be notified.

Keep reading... Show less

HempFusion Wellness Inc. (TSX:CBD.U) (OTCQX:CBDHF) (FWB:8OO) (“HempFusion” or the “Company”), a leading health and wellness CBD company utilizing the power of whole-food hemp nutrition, is pleased to announce that its common shares have been approved for DTC full-service eligibility in the United States by the Depository Trust Company (“DTC”) and can now be both traded and serviced through DTC’s electronic book-entry system.

DTC is a subsidiary of the Depository Trust & Clearing Corp. (“DTCC”) that provides clearing and settlement services for the financial markets and settles the majority of securities transactions in the United States. This electronic method of clearing securities speeds up the receipt of stock and cash and thus accelerates the settlement process for investors and brokers, enabling the stock to be traded over a much wider selection of brokerage firms.

Keep reading... Show less

CFN Enterprises Inc. (OTCQB: CNFN) (CFN Media) partners with FMW Media Works LLC to produce a regular series on the global cannabis markets to air on major financial news networks across the US. Initial segment features leading cannabis analyst and US Multi-State Operator (MSO)

CFN Enterprises Inc. (OTCQB: CNFN), owner and operator of CFN Media, the leading media network dedicated to the global legal cannabis, CBD and psychedelics industries, today announced that its inaugural news segment on the cannabis markets, “Cannabis Market Outlook for 2021,” will air on Bloomberg, Newsmax and Fox Business.

Keep reading... Show less