IGNITE Announces Completion of Private Placement of 2,000,000 Shares

Rhea-AI Summary

IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX:BILZF) has successfully closed a private placement, selling 2,000,000 subordinate voting shares to Brisa Max Holdings VI LLC for a total of $2,860,000. This funding is expected to bolster the company's operations in various sectors, including CBD and nicotine products, performance drinks, and spirits. The company emphasizes its growth potential while cautioning investors about risks, including the impacts of COVID-19 on business operations. Forward-looking statements are included in the release, advising readers to consider potential uncertainties.

Positive

• Raised $2,860,000 through a private placement to support company operations.
• Successful subscription of 2,000,000 subordinate voting shares indicates strong investor confidence.

Negative

• Forward-looking statements highlight uncertainties related to COVID-19 impacts on operations and business plans.

VAUGHAN, Ontario--(BUSINESS WIRE)-- As previously announced on September 7, 2021, IGNITE International Brands, Ltd. (CSE:BILZ, OTCQX: BILZF) (“IGNITE” or the “Company”), a global consumer packaged goods company, is pleased to confirm that the subscription of 2,000,000 subordinate voting shares by way of private placement to Brisa Max Holdings VI LLC closed yesterday raising $2,860,000 for the Company.

About IGNITE

IGNITE is a global consumer premium brand, operating in several market segments. IGNITE product categories include CBD products, nicotine and synthetic nicotine vape products, premium performance drinks named ZRO, apparel, and spirits featuring tequila and a premium vodka. The IGNITE THC product line was introduced in Canada in 2020.

Shares of IGNITE are listed on the Canadian Securities Exchange (CSE) under the symbol “BILZ” and quoted in the United States on the OTCQX under the symbol “BILZF”.

Further information on IGNITE can be found on the Company’s website at www.ignite.co.

CAUTIONARY STATEMENT REGARDING FORWARD‐LOOKING INFORMATION

This news release includes certain “forward‐looking statements” under applicable Canadian securities legislation, including the closing of the private placement and the expected closing date. Forward‐looking statements are necessarily based upon several estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward‐looking statements. Such factors include, but are not limited to: general business, economic, competitive, political and social uncertainties; the effects and impacts of the coronavirus disease (COVID‐19) pandemic, the extent and duration of which are uncertain at this time on IGNITE’s business and general economic and business conditions and markets; the ability of IGNITE to give effect to its business plan. There can be no assurance that any of the forward‐looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward‐looking statements. The Company disclaims any intention or obligation to update or revise any forward‐looking statements, whether because of new information, future events or otherwise, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210909005329/en/

Paul A. Holden, General Counsel

Tel: 416-407-1795

Email: paul.holden@ignite.co

Source: IGNITE International Brands, Ltd.

FAQ

What is the recent funding announcement for BILZ?

IGNITE International Brands announced a private placement raising $2,860,000 by selling 2,000,000 subordinate voting shares.

How will the funds raised by BILZ be used?

The funds raised will be used to support IGNITE's operations across its various product segments.

What is the stock symbol for IGNITE International Brands?

The stock symbol for IGNITE International Brands is BILZ on the Canadian Securities Exchange.

What risks did IGNITE mention in its press release?

The press release indicated risks related to COVID-19's potential effects on business operations and market conditions.