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Ionic Brands Corp. has announced key appointments in its management team, with Christian Vara serving as Chief Operating Officer and David Croom as Chief Financial Officer. Vara, an experienced entrepreneur, aims to enhance daily operations, while Croom brings over 30 years of diverse financial expertise. Additionally, Macias Gini & O'Connell LLP has been appointed as the new auditors. The company is experiencing significant growth, with operations nearly tripling in size, and is focused on acquiring talent to further institutionalize its strategies for scale and growth.
Ionic Brands Corp. reports Q3-2021 sales revenues of $7.2M, a growth of 146% year-over-year, with unit sales increasing by 11% from Q2-2021.
The gross margin improved to 16.8% despite pricing pressures from biomass oversupply. Adjusted EBITDA loss decreased to ($209K) from ($964K) in Q2-2021. The company faces challenges such as supply chain disruptions and pricing headwinds but anticipates continued growth in revenues and margins moving into Q4-2021.
IONIC Brands Corp. has announced a non-brokered private placement of up to 10 million units at CDN$0.05 each, aiming for gross proceeds of around CDN$500,000. Each unit comprises one common share and one share purchase warrant, allowing purchase of an additional share at CDN$0.07 for three years. Proceeds will fund raw material purchases and general working capital. The offering is subject to standard approval conditions. CEO John P. Gorst highlighted the importance of this funding to maintain full manufacturing capacity amid supply chain delays.
IONIC BRANDS CORP. (CSE: IONC) (OTC PINK: IONKF) has launched 'ZOOTS NRg+CBD', an Energy Shot beverage featuring CBD. This addition to the ZOOTS line aims to expand their footprint nationally, leveraging ZOOTS' strong regional presence. Each 2 oz shot contains 60mg of nano-emulsified CBD, designed for quick absorption, alongside natural enhancers like yerba mate and guarana. Available through select stores in Washington and their direct-to-consumer site, ZOOTS NRg+CBD promises a unique blend of energy and CBD without caffeine jitters.
IONIC BRANDS CORP. has begun trading on the OTCQB Venture Market under the symbol IONKF, enhancing visibility and liquidity for its stock. The move aims to attract U.S. investors while maintaining its presence on the Canadian Securities Exchange as IONC. CEO John Gorst emphasized the importance of transparency and access to financial information. The company focuses on premium cannabis brands and operates in markets including Washington and Oregon. The OTCQB listing requires ongoing reporting and management certification, signaling the company's commitment to regulatory compliance.
IONIC Brands Corp. reported record Q2-2021 revenues of $8.3 million, a 98% increase from Q1-2021, driven by new product launches and the acquisition of Cowlitz County Cannabis brand assets. Total H1 sales reached $12.5 million, exceeding the full-year 2020 revenues by $3.5 million. However, gross profit for Q2 was $1.3 million, reflecting a 16% margin, down from Q1’s 17.3%. Improved balance sheet with $12.9 million in secured debt converted to preferred equity indicates financial strengthening. Future focus remains on enhancing operating efficiencies and reducing costs.
IONIC BRANDS CORP. (CSE:IONC)(OTC PINK:IONKF) reported its monthly performance update for July 2021, highlighting a 2% and 15% revenue increase in flower and concentrate categories compared to June. While there was a decline in wholesale revenue due to biomass oversupply, unit prices rose significantly, reflecting a 53% increase from June. The company aims to stabilize costs and reach profitability by Q3 2021, having completed 90% of its infrastructure investments. CEO John Gorst emphasized a focus on maintaining prices to ensure gross margins despite competitive pressures.
The Wealth365 Summit, the largest virtual trading and investing conference, will take place from July 12 to July 17, 2021. It features over 60 wealth experts including Ralph Acampora and Tom Sosnoff. Notable speakers include John Gorst, CEO of Ionic Brands, and Fabian Monaco, CEO of Gage Growth Corp, updating audiences on their companies. The summit's topics cover stocks, options, cryptos, and early-stage investments. WealthCharts, a key sponsor, will unveil new tools for traders during the event.
IONIC Brands Corp. (CSE:IONC)(OTC:IONKF) announced an update regarding its management cease trade order (MCTO) from the Ontario Securities Commission, initially issued on May 3, 2021, due to delays in filing annual financial statements for 2020. The MCTO has been extended to July 19, 2021, as the company works to complete its first-quarter financial filings. The company confirms no material changes since the last default announcement and intends to provide regular updates as per National Policy 12-203 guidelines. IONIC is focused on premium cannabis products in key U.S. markets.
IONIC BRANDS announced strong proforma financial results for Q1 2021, reporting $4.18 million in revenue, a 153% increase from Q4 2020. This growth is attributed to the acquisition of the Cowlitz County Cannabis asset. Gross profit reached $722,845 with a gross margin of 17.3%. Although gross margin slightly declined, the company expects improvements in Q2 due to increased production efficiency. The firm anticipates revenues in Q2 will rise 50-60% compared to 2020 and aims for positive cash flow in Q3 2021.
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