Oregon-based cannabis oils rocket Golden Leaf Holdings (
CSE:GLH,
Forum) has announced a big deal in the marijuana world, entering into
a definitive and exclusive agreement to distribute Dixie edibles, tinctures and topicals in Oregon.
Having started in Colorado back in 2010, Dixie is one of the stonking great boss monsters of the US marijuana world, and recently announced intentions to expand into new US states with local partners.
The deal will see Golden Leaf creating Dixie products under license in Oregon, and distributing them on a wholesale basis across the state. While the deal not only brings GLH significant profit potential, it also legitimizes them as a big time player in the space, and opens the possibility of sending products back the other way through Dixie distribution channels.
“Today marks an important milestone for Dixie Brands,” said CEO Tripp Keber in a news release. “The partnership between our organizations, and the complementary nature of our brands will bring great alternatives to Oregon patients and dispensaries.”
Golden Leaf debuted on the CSE in mid-October at $0.45, and quickly jumped to the $1.25 range in a matter of weeks. Today’s news saw profit taking that rolled it back to $1.15, putting the firm at a $70.4m market cap.
Oregon lawmakers moved the state to recreational marijuana use in October, expanding the potential user base of Golden Leaf products by hundreds of thousands.
To hear an interview with Golden Leaf CEO Don Robinson, click here.
--Chris Parry
https://www.twitter.com/chrisparry
FULL DISCLOSURE: Golden Leaf is a Stockhouse Publishing marketing client. The author is a consultant to the company and owns GLH shares.