SAN DIEGO, April 17, 2012 /PRNewswire/ -- Medical Marijuana Inc. (OTC: MJNA)
- Medical Marijuana, Inc. (MJNA – OTC PK) has acquired all intellectual property, research and development, formulas and recipes associated with medical cannabis brand, Dixie Elixirs & Edibles, from Dixie Holdings, LLC.
- The two companies have jointly formed marketing and licensing company Red Dice Holdings, LLC to manage and license the intellectual assets of the Dixie Elixirs & Edibles brand and product.
- The acquisition and development is being sponsored and financed by CannaBANK Inc., for a total equity investment of $1,450,000 representing a sixty percent stake in Red Dice Holdings, LLC for Medical Marijuana Inc., and a forty percent position to be held by Dixie Holdings, LLCs.
- Left Bank, LLC d.b.a. Dixie Elixirs & Edibles, LLC (a Colorado LLC), which is recognized by Colorado's Medical Marijuana Enforcement Division (MMED) as a Medical Marijuana Infused Products manufacturer (MMIP) still remains a separate entity and has entered into a licensing agreement with its branding partner, Red Dice Holdings, LLC effective immediately.
- Dixie Elixirs & Edibles manufactures and distributes six carefully formulated product lines consisting of well over 40 medical marijuana infused products including medicated beverages and tonics, cannabis capsules, medicated lozenges and edibles as well as a full line of topicals and salves as part of the Dixie Botanticals line of products (which were recently featured on National Geographic's series "American Weed").
- One of Colorado's most recognized medical marijuana brand's, Dixie Elixirs & Edibles serves over 400 of the state's Medical Marijuana Centers (MMC's) with new distribution points added daily.
- Medical Marijuana Inc and Dixie Elixirs & Edibles are jointly focused on the research and development of several new lines focused on innovative delivery mechanisms for non-THC medical products that deliver the healing properties of Cannabinoids (CBDs).
"Dixie is very excited to bring our brand and products to a national stage by partnering our intellectual property with Medical Marijuana, Inc.'s vision to be the world's premier cannabis and hemp industry innovators," said Tripp Keber, President and CEO of Dixie Elixirs and Red Dice Holdings, LLC. "This is also an exciting day for patients around the country who will now potentially have access to a formula and product that can provide high-quality consistency for those in need of the healing properties of non-smokable medical marijuana. In addition, caregivers in states outside of Colorado looking to deliver a quality and proven edible solution to their patients, can now tap into the investment of time and dollars that we have made in the branding, packaging, extraction processes and product development of our entire line of edibles and botanicals via Red Dice Holdings, LLC."
"While Dixie Colorado continues to deliver consistent, reliable, high-quality products to the thousands of licensed Colorado patients who have come to depend on them, the breadth and depth of resources that Medical Marijuana, Inc. brings to this relationship will allow us together to expand the Dixie product offerings to serve a wider variety of patient needs," said Michael Llamas, President of Medical Marijuana Inc. "Our newly formed LLC, Red Dice Holdings, is one of the many innovations and advancements that we plan to bring to the medical marijuana industry and we look forward to working with Tripp and the entire Dixie team to build a global and sustainable future for patients and caregivers around the world."About Dixie Elixirs
As Colorado's premier THC-infused products company, Dixie Elixirs & Edibles™, based in Denver, CO has been providing alternative medicated relief for patients in Colorado since 2009. Dedicated to providing the strength, taste and discretion required by medical marijuana patients, Dixie Elixirs & Edibles provide a complete line of smoke-free medical marijuana products including Dixie Elixirs™ medicated beverages, Dixie Edibles™ infused edibles, Dixie Scrips™ cannabis and herb supplement capsules, Dixie Botanicals™ all-natural transdermal topicals, Dixie Dew Drops™ concentrated tinctures, and Dixie Tonics™ medicated energy boosts. Dixie Elixirs & Edibles products are sold through licensed medical marijuana centers in Colorado in compliance with CO HB 1284. Find out more at DixieElixirs.com.
About Medical Marijuana Inc (OTC: MJNA)
Our mission is to be the world's premier cannabis and hemp industry innovators, leveraging our team of professionals to source, evaluate, invest in and purchase value-added sustainable companies, while allowing them to keep their integrity and entrepreneurial spirit. We strive to create awareness within our industry, pay homage to the visionaries and activists of the past and present, and provide the platform from which the industry can emerge into a global sustainable economy for all. Medical Marijuana Inc recognizes the vast and unequaled opportunities that exist in the rapidly expanding hemp and medical marijuana industries. The scientific recognition of cannabis has brought legalized marijuana use to the forefront of mainstream discussion, thus opening the door for safe and lucrative investment opportunities.
This press release may contain certain forward-looking statements and information, as defined within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, and is subject to the Safe Harbor created by those sections. This material contains statements about expected future events and/or financial results that are forward-looking in nature and subject to risks and uncertainties. Such forward-looking statements by definition involve risks, uncertainties and other factors, which may cause the actual results, performance or achievements of Medical Marijuana Inc to be materially different from the statements made herein.
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These statements have not been evaluated by the Food and Drug Administration (FDA), products and statements are not intended to diagnose, treat, cure, or prevent any disease
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