AriZona Beverages will lend its name to a line of THC-infused solutions, announcing nowadays that it has signed a letter of intent for a 3-year partnership with cannabis solutions maker Dixie Brands Inc.
Speaking with BevNET, Dixie CEO Chuck Smith mentioned the partnership — which at the finish of its term can be renewed two instances for up to 4 years — is most likely to generate a selection of THC-infused solutions below the AriZona name, beginning with vape pens and gummies.
Smith mentioned that although AriZona is most identified for its beverages, the business decided to concentrate 1st on vape pens and gummies in order to “speak to the broad base of shoppers in the cannabis sector nowadays.” He noted that gummies are the biggest promoting infused solutions in the cannabis market place although vapes are the biggest promoting concentrate solution. He added that cannabis-infused beverages is a developing segment and that Dixie has “a terrific opportunity” to generate AriZona branded THC drinks “down the road.”
As element of the agreement, AriZona may possibly obtain up to $10 million in shares of Dixie Brands by way of the workout of warrants valued at $.59 per share for a term of up to 24 months from signing the partnership. Dixie Brands, which is headquartered in Colorado, is a publicly traded business on the Canadian Stock Exchange.
Published: August 07, 2019