New York, NY — July 30, 2018 — /D.M.O. Newswire/ – Colorado-based Dixie Brands, one of the most recognized brands in the cannabis industry, is going public up in Canada.
Here’s What You Need to Know About Dixie
- Dixie Brands, Inc. is a marketing, intellectual property and product development company designed to build and manage the expansion of the Dixie product portfolio worldwide.
- What started as a Dixie Elixir beverage in 2010, as part of the legal medical marijuana market in Colorado, has grown to be the first true national consumer package goods company in the cannabis industry.
- Dixie has three portfolio companies under its umbrella: Dixie Elixirs & Edibles, Aceso Wellness (Hemp-derived CBD based human dietary supplement), and Therabis (Hemp-derived CBD based pet food supplement).
- The company currently operates in four U.S. states with an aggressive expansion plan for 2019. Dixie has also executed a license agreement with Auxly Cannabis in May of 2018 permitting Auxly to exclusively produce and distribute Dixie branded products throughout Canada.
Here’s What You Need to Know About Dixie’s Deal
- Academy Explorations Ltd. announced that it entered into a letter of intent with Dixie Brands, Inc. where the parties will complete a business combination by way of a transaction that will constitute a reverse takeover of the Academy Explorations by Dixie.
- The transaction is an arm’s length transaction.
- The resulting issuer that will exist upon completion of the transaction will change its business from mining to the cannabis industry and intends to apply for listing of its common shares on the Canadian Securities Exchange.
- The final structure of the transaction will be determined by the parties following receipt of tax, corporate and securities law advice and is subject to the approval of the CSE.
- Upon the closing of the transaction, it is expected that former shareholders of Dixie will hold approximately 95% of the common shares of the resulting issuer and current shareholders of Academy Explorations will hold approximately 5% of the resulting issuer.
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