AriZona Drinks will lend its identify to a line of THC-infused merchandise, saying right now that it has signed a letter of intent for a three-year partnership with cannabis merchandise maker Dixie Manufacturers Inc.
Talking with BevNET, Dixie CEO Chuck Smith mentioned the partnership — which on the finish of its time period could be renewed two instances for as much as 4 years — is more likely to produce a wide range of THC-infused merchandise underneath the AriZona identify, beginning with vape pens and gummies.
Smith mentioned that whereas AriZona is most identified for its drinks, the corporate determined to focus first on vape pens and gummies with the intention to “converse to the broad base of shoppers within the cannabis business right now.” He famous that gummies are the most important promoting infused merchandise within the cannabis market whereas vapes are the most important promoting focus product. He added that cannabis-infused drinks is a rising section and that Dixie has “an important alternative” to create AriZona branded THC drinks “down the street.”
As a part of the settlement, AriZona might buy as much as $10 million in shares of Dixie Manufacturers by means of the train of warrants valued at $0.59 per share for a time period of as much as 24 months from signing the partnership. Dixie Manufacturers, which is headquartered in Colorado, is a publicly traded firm on the Canadian Inventory Alternate.
Revealed: August 07, 2019
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