Ionic Brands Announces Private Placement for Purchasing Q1 Inventory Ensuring Manufacturing Capacity
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VANCOUVER, BC / ACCESSWIRE / November 25, 2021 / IONIC Brands Corp. (CSE:IONC)(FRA:IB3)(OTCQB:IONKF) ("IONIC BRANDS" or the "Company") is pleased to announce it is undertaking a non-brokered private placement of up to 10,000,000 units (the "Units") at a price of CDN$0.05 per Unit for gross proceeds of up to approximately CDN$500,000 (the "Offering"). Each Unit will consist of one common share of the Company (a "Share") and one Share purchase warrant (a "Warrant"). Each Warrant will entitle the holder to acquire one additional Share at a price of CDN$0.07 per Share, for a period of three years from the date of issuance.
The Company may pay finder's fees and/or commissions to eligible persons in connection with the Offering in accordance with applicable securities laws and the policies of the Canadian Securities Exchange (the "CSE").
The net proceeds of the Offering will be used for raw material for inventory builds and general working capital purposes.
In accordance with applicable securities laws, all securities issued under the Offering will be subject to a four month and one day hold period from the date of issuance. Closing of the Offering is subject to certain conditions customary for transactions of this nature, including, but not limited to, the receipt of all necessary approvals, including the approval of the CSE.
No securities regulatory authority has either approved or disapproved of the contents of this news release. The securities of the Company have not been, nor will they be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold in the United States, or to or for the account or benefit of any person in the United States, absent registration or an applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any common shares in the United States, or in any other jurisdiction in which such offer, solicitation or sale would be unlawful.
Ionic Brands, Chairman, and CEO, John P. Gorst stated, "With supply chains backed up as far out as they are, this funding will allow us to purchase raw materials ahead of projected delivery times ensuring that we can keep our manufacturing plant at full capacity."
About IONIC BRANDS CORP.
The Company is focused on building a multi-state consumer-focused cannabis concentrate brand portfolio focusing on the premium and luxury segments. The cornerstone Brand of the portfolio, IONIC, is one of the top five vaporizer and concentrate brands in Washington State along with Zoots portfolio of high quality edibles, and has aggressively expanded throughout the West Coast of the United States. The brand is currently operating in Washington and Oregon with licensing agreements in Illinois and Massachusetts. IONIC BRANDS' strategy is to be the leader of the highest-value segments of the cannabis market and expand nationally.
On behalf of IONIC BRANDS CORP.
Chief Executive Officer & Chairman
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CAUTION REGARDING FORWARD-LOOKING INFORMATION
Certain statements contained in this news release may constitute forward‐looking information. Forward‐looking information is often, but not always, identified by the use of words such as "anticipate", "plan", "estimate", "expect", "may", "will", "intend", "should", and similar expressions. Forward‐looking information involves known and unknown risks, uncertainties and other factors that may cause actual results or events to differ materially from those anticipated in such forward‐looking information. The Company's actual results could differ materially from those anticipated in this forward‐looking information as a result of regulatory decisions, competitive factors in the industries in which the Company operates, prevailing economic conditions, changes to the Company's strategic growth plans, and other factors, many of which are beyond the control of the Company. The Company believes that the expectations reflected in the forward‐looking information are reasonable, but no assurance can be given that these expectations will prove to be correct and such forward‐looking information should not be unduly relied upon. Any forward‐looking information contained in this news release represents the Company's expectations as of the date hereof, and is subject to change after such date. The Company disclaims any intention or obligation to update or revise any forward‐looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
The Canadian Securities Exchange has not in any way passed upon the merits of the Offering proposed herein and has neither approved nor disapproved the contents of this press release.
SOURCE: IONIC Brands Corp.
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